Profit First - Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Key Facts and Insights from "Profit First"

1. Flipping the Formula: The standard formula for business is Sales - Expenses = Profit. This book flips that formula to Sales - Profit = Expenses. By taking profit first, businesses are forced to adapt to what's left for expenses.
2. Profit is a Habit, not an Event: Profit should be designed into a business from its inception, rather than being considered a future event that may or may not happen.
3. Small Plates Principle: Inspired by the principle of portion control in dieting, Michalowicz suggests businesses should utilize smaller operating expense accounts to prevent...

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