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. Just as the most effective weight loss strategy is
to limit portions by using smaller plates, 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 achieiving long-term growth.

With
dozens of case studies, practical, step-by-step advice, and his
signature sense of humor, Michalowicz has the game-changing roadmap for
any entrepreneur to make money they always dreamed of.