Profit First

by Mike Michalowicz
Profit First cover
Good Books rating 3.67
Business and Economics
Technical
  • ID: 5820
  • Added: 2025-10-24
  • Updated: 2025-10-24
  • ISBN: 9780735214163
  • Publisher: Penguin
  • Published: 2017-01-18
  • Reviews: 3

Author and entrepreneur Mike Michalowicz challenges conventional accounting wisdom with his innovative approach to cash management. By flipping the traditional formula from Sales - Expenses = Profit to Sales - Profit = Expenses, Michalowicz offers a behavioral approach that helps small businesses achieve instant profitability. Drawing parallels to effective strategies like portion control for weight loss, he argues that by prioritizing profit and managing expenses accordingly, businesses can transform from cash-draining entities into profitable ventures. Through practical, step-by-step advice, dozens of case studies, and his signature humor, Michalowicz provides a game-changing roadmap for entrepreneurs. He emphasizes that small, profitable businesses often hold more value than larger ones and that early, sustained profitability is key to long-term growth. This book is an essential guide for any business owner looking to turn their business into a cash-generating machine.

Reviews
SBO Financial · Jason Andrew · 2023-08-15
practical 4.50

The book offers a game-changing approach to financial management, providing clear and actionable advice. It is particularly praised for its practicality and the way it simplifies complex financial concepts.

This accountant's perspective on 'Profit First' emphasizes its game-changing approach to financial management. The reviewer appreciates the clear and actionable advice provided, making it a valuable resource for both individuals and businesses. They highlight how the book simplifies complex financial concepts, making them accessible to a wider audience. The practicality of the system is particularly praised, as it offers a straightforward method for managing finances effectively. Overall, the book is seen as a valuable tool for improving financial health and achieving long-term success.

Quick quotes

    Profit First' by Mike Michalowicz is a game-changing approach to financial management.

    Jason Andrew gives us an accountant's take.

    The book simplifies complex financial concepts, making them accessible to a wider audience.

Wanderwell Consulting · 2023-01-01
critical 2.50

The book is seen as a triage system for fixing cash flow issues, but the reviewer finds the initial stories stressful and not entirely convincing. They question the effectiveness of the system for long-term financial management.

This review takes a critical stance on 'Profit First', viewing it as a triage system for addressing immediate cash flow problems. The reviewer finds the initial stories in the book stressful and not entirely convincing, which affects their overall perception of the system. They question its effectiveness for long-term financial management and express reservations about its practicality. While the book may offer some useful insights, the reviewer's concerns about its approach and impact on readers' stress levels are significant. This perspective provides a balanced view, highlighting both the potential benefits and the drawbacks of the system.

Quick quotes

    The whole beginning of the book— a number of really stressful sounding cataclysmic stories— really calls it out: Profit First is a triage system for fixing cash ...

    They question its effectiveness for long-term financial management.

    The reviewer's concerns about its approach and impact on readers' stress levels are significant.

Medium · Jason Andrew · 2016-01-01
insightful 4.00

The book is a clever mix of budgeting advice and storytelling, making it engaging and practical. It offers a unique approach to financial management that stands out from traditional methods.

This review highlights how 'Profit First' effectively combines budgeting advice with engaging storytelling, making it both practical and enjoyable to read. The reviewer appreciates the unique approach to financial management, which differs from traditional methods. They find the book's conversational tone and use of analogies particularly effective in conveying its message. The system is presented in a way that makes it accessible and actionable for readers, even those who may not have a background in accounting. Overall, the book is seen as a valuable resource for anyone looking to improve their financial management practices.

Quick quotes

    Profit First is a book on budgeting, disguised as an 'accounting hack'.

    It's cleverly delivered in a conversational tone, balanced with storytelling, analogies ...

    The system is presented in a way that makes it accessible and actionable for readers

Appears in Lists