Read to Lead: "Profit First" by Mike Michalowicz
Time for Book Club!
Event Details
Our next Read to Lead book club will be all about your store's bottom line! We'll be reading Mike Michalowicz's "Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine." The discussion will be led by Erin Matthews, owner of The Last Word in Mt. Airy, MD and vice-president of the board for NAIBA.
The two hour discussion is $35 and includes a copy of the book which we will mail to you in advance. We'll meet at 3:00 pm ET / 2:00 pm CT / 12:00 pm PT. A Zoom link will be sent when you register.
Our PBS instructors swear by this book and process, and we're happy to bring the book AND their experience to you!
About the Book
Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical.
Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows.
Using Michalowicz's Profit First system, readers will learn that:
· Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances.
· A small, profitable business can be worth much more than a large business surviving on its top line.
· Businesses that attain early and sustained profitability have a better shot at achieving long-term growth.