Profit First

“Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine” (buy from amazon) by Mike Michalowicz is a must-read for small business owners, entrepreneurs and financial managers looking to improve their bottom line. The book provides a step-by-step guide on how to effectively manage cash flow and increase profitability by prioritizing profit over sales. Michalowicz argues that the traditional accounting method of paying bills first and then trying to allocate what’s left to profit often results in businesses operating in a constant state of deficit. He advocates…