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  • Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine (Entrepreneurship Simplified)
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Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine (Entrepreneurship Simplified) Hardcover – February 21, 2017

by Mike Michalowicz (Author)
4.8 out of 5 stars (9,648)
#1 Best Seller in Theory of Economics
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Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability.

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 achieving 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.
Read more
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  1. Part of series
    Entrepreneurship Simplified
  2. Print length
    224 pages
  3. Language
    English
  4. Publisher
    Portfolio
  5. Publication date
    February 21, 2017
  6. Dimensions
    6.18 x 0.79 x 9.21 inches
  7. ISBN-10
    9780735214149
  8. ISBN-13
    978-0735214149
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From the Publisher

Profit is not an event. Profit is a habit. Mike Michalowicz

THREE STEPS TO PERMANENT PROFITABILITY

Image for Profit First by Mike Michalowicz. It shows a money bag turning into dollar bills.

CHANNEL BEHAVIOR

Most entrepreneurs run their business via “login and see what you’ve got - bank balance accounting.” If you do that, too... congratulations! Profit First was made for you.

Profit First is a cash management system that works with your bank accounts. The do-it-yourself process pre-allocates money to its intended use before you spend it. When you log into your bank, you will know what money is available for what purpose.

Image for Profit First by Mike Michalowicz

REMOVE TEMPTATION

Just like the 401k has been the greatest personal savings mechanism in US history, Profit First leverages the same “pay yourself first” principle. First, your business will deduct its profit and transfer the money away from your primary bank to prevent the business from “borrowing from it.”

With the temptation to run your business from its profits removed, you will automatically operate your business in a fiscally sound manner.

Image for Profit First by Mike Michalowicz. It is a drawing of a flower in a person's palm

REWARD QUARTERLY

As profit accumulates, the owner(s) of the business will take a quarterly profit distribution. The profits are not “plowed back” or “reinvested” into the business - or they should be reclassified as expenses. Instead, the profits are used to reward the owner(s).

Some businesses have debt, of course. Using the Profit First system, portions of profit distributions can be used to pay off chunks of debt, but some must remain to reward the owner(s). With Profit First, you win. Every quarter.

Image of author Mike Michalowicz

ABOUT MIKE MICHALOWICZ

After building and selling two multi-million dollar businesses, Mike Michalowicz (pronounced mi-‘kal-o-wits) started his third company and... lost his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Mike has devoted his life to the research and delivery of innovative entrepreneurial strategies to his readers.

Mike is the creator of Profit First, which is used by over one million companies across the globe to drive permanent profit. He is also the creator of Clockwork (small business systems), Fix This Next (small business strategy), Get Different (small business marketing), The Pumpkin Plan (small business growth), and All In (small business teams).

If there will ever be a patron saint for entrepreneurs, Mike Michalowicz is a contender —Simon Sinek

Mike Michalowicz is the authority on small business success

Mike Michaelowicz is a brilliant business mind. — Sally Hogshead

Fix This Next
Get Different
Clockwork
The Pumpkin Plan
All In
Customer Reviews
4.7 out of 5 stars 574
4.6 out of 5 stars 268
4.7 out of 5 stars 248
4.7 out of 5 stars 1,712
4.7 out of 5 stars 158
Price EUR 19.00 EUR 17.13 EUR 26.43 EUR 16.63 EUR 24.48
YOUR GUIDE TO ENTREPRENEURIAL SUCCESS I want to do the RIGHT things! I want to MARKET better than ever! I want to get my TIME back! I want to GROW fast and strong! I want to LEAD an unstoppable team!

Editorial Reviews

Review

Praise for Profit First

“Quit being a slave to your own business and start making some serious money. Follow Mike’s counter-intuitive advice and put profits first.”
--VERNE HARNISH, author of Scaling Up

“Profit First is a brilliant smack-upside-the-head revelation for entrepreneurs. Most small businesses look pretty good on the outside, yet actually struggle to stay afloat. With fascinating stories and wit, Michalowicz shows how to remove your nose from the grindstone, climb out of the quicksand, and build a business that loves you back.”
—SALLY HOGSHEAD, author of Fascinate

“Profit First may arguably be one of the greatest ‘hacks’ of all time. Apply the pay-yourself-first principle to your business and watch the profits roll in.”
—CHRIS GUILLEBEAU, author of Born for This and The $100 Startup
 
"Profit First is a game-changer. I implemented the system into both of my businesses and increased profits by 21%. If you want to turn a profit and grow your business, you need this book."
—MICHAEL PORT, author of Steal the Show
 
"Profit First completely transformed how I handle business banking. I hadn't even finished the book before immediately putting a four-account distribution system in place for new income: operating expenses, owner expenses, taxes and profit. Mike's system moved me from break-even to profitable within a month. This book is a must-read for businesses large and small."
—JENNY BLAKE, author of Pivot
 
“Twenty-five percent of small businesses have two weeks or less of cash in the bank. Seventy-five percent of businesses have a month or less of cash in the bank. Profit First disciplines show you the roadmap to avoid becoming a statistic. This book has the potential to change the next 20 years of your small business life.”
—DAWN FOTOPULOS, Associate Professor of Business, The King’s College NYC; author of Accounting for the Numberphobic
 
“Profit First is a revelation. I only wish I knew about this system when I started my first business.”
—JOHN JANTSCH, author of Duct Tape Marketing and SEO for Growth

“Entrepreneurs commonly confuse cash flow with profitability. Profit First makes the process so radically simple that you no longer have an excuse not to be profitable AND have cash flow!”
—GREG CRABTREE, author of Simple Numbers, Straight Talk, Big Profits

“Not only is Mike one of the most innovative small business authors of our time, his Profit First system—simple to apply and impactful in its results—can be the difference between constantly walking the financial tightrope or being predictably profitable. And a predictably profitable business is not only less stressful and more gratifying, it allows you to focus on what really matters… serving your customers!”
—BOB BURG, coauthor of The Go-Giver and The Go-Giver Leader

"Why are so few businesses actually profitable for their owners? Profit First turns accepted wisdom on its head and shows the real reason business owners struggle with the bottom line. This book shows you how to take home more money almost immediately."
—DORIE CLARK, author of Stand Out

“Finance is the top headache of an entrepreneur. Profit First is a must-read to avoid bankruptcy for great business ideas. Clever, easy to implement and absolutely effective (plus you will enjoy reading it).”
—SOFIA MACIAS, author of Pequeño Cerdo Capitalista

“Entrepreneurs and small business advisors finally have a practical toolkit for increasing profitability! Everyone who touches the small business world should read and apply these game-changing principles.”
—JOE WOODARD, CEO of Woodard Events and Woodard Consulting

“I took the pledge and started implementing the Profit First system after reading Chapter One. By the time I was halfway through the book my business had already turned a profit.”
—BARRY MOLTZ, author of How to Get Unstuck

About the Author

MIKE MICHALOWICZ launched and sold two multi-million dollar companies and is co-founder of Profit First Professionals, a membership organization of accountants, bookkeepers and business coaches who teach the Profit First method. He is a former columnist for The Wall Street Journal, is a popular speaker and has shared his insights on business and entrepreneurship at TEDx, creativeLIVE, INCmty and others. He is the author of The Pumpkin Plan and The Toilet Paper Entrepreneur. His columns have appeared in Entrepreneur Magazine, Open Forum, and Harvard Business Review.

Product details

  • ASIN ‏ : ‎ 073521414X
  • Publisher ‏ : ‎ Portfolio
  • Publication date ‏ : ‎ February 21, 2017
  • Edition ‏ : ‎ Reissue
  • Language ‏ : ‎ English
  • Print length ‏ : ‎ 224 pages
  • ISBN-10 ‏ : ‎ 9780735214149
  • ISBN-13 ‏ : ‎ 978-0735214149
  • Item Weight ‏ : ‎ 14 ounces
  • Dimensions ‏ : ‎ 6.18 x 0.79 x 9.21 inches
  • Part of series ‏ : ‎ Entrepreneurship Simplified
  • Best Sellers Rank: #1,441 in Books (See Top 100 in Books)
  • Customer Reviews:
    4.8 out of 5 stars (9,648)

About the author

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Mike Michalowicz

Mike Michalowicz

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By his 35th birthday MIKE MICHALOWICZ (pronounced mi-‘kal-o-wits) had founded and sold two multi-million dollar companies.

Confident that he had the formula to success, he became a small business angel investor… and proceeded to lose his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies to you.

Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. He is the author of Fix This Next, an instant Wall Street Journal Bestseller, The Pumpkin Plan, Surge and The Toilet Paper Entrepreneur. His newest book, Get Different, teaches entrepreneurs how to creating marketing that can't be ignored.

Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and business makeover specialist on MSNBC. Mike is a popular main stage keynote speaker on innovative entrepreneurial topics; and is the author of Get Different, Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur.

Fabled author, Simon Sinek deemed Mike Michalowicz “…the top contender for the patron saint of entrepreneurs.”

Mike is also a guest lecturer for collegiate entrepreneurial programs such as Babson, Boston College, Columbia, Copenhagen Business School, Emerson, Harvard, Penn State, Pepperdine and Princeton. His books are in the core curriculum for entrepreneur students at Pepperdine, Carnegie Mellon, Stanford University, and universities across the country. His books have been translated into over 27 languages.

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Customer reviews

4.8 out of 5 stars
9,648 global ratings

Customers say

Customers find this audio book to be a must-read for business owners, providing valuable financial advice and accounting structure for both businesses and personal finance. They appreciate the revolutionary information and find the concepts easy to understand, with one customer noting the philosophy is more fluid than other business books. Customers value the cost-effective approach, with one mentioning how it helps reduce expenses.
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695 customers mention content, 678 positive, 17 negative
Customers find the content of the book excellent, describing it as a must-read for business owners.
Great book! I am using this wonderful book to take control of my business and myself and change my relationship to how I do my finances.Read more
Alround great read. Very happy with the book, great for a new business owner to get started on the right footRead more
I am so thankful that Selena Soo emailed her list about this amazing book....Read more
Love it. Excellent book. Changed the way I do my banking and money management. Already saving more money because of the concept in this book....Read more
247 customers mention informative, 238 positive, 9 negative
Customers find the book informative, describing it as revolutionary information, with one customer noting that the advice and insight are priceless.
Great information! Wish I had this years ago. A plan for how to use your top-line revenue so you stay in business....Read more
...business, he makes the book sounds like frictional, but very informative and easy to understand....Read more
Great advice!Read more
...I am so incredibly impressed with how insightful and actionable these principles are. This is the best business book I have read in years!...Read more
9 customers mention financial management, 9 positive, 0 negative
Customers appreciate the financial management approach of the book, praising its accounting structure for both businesses and personal finance. One customer notes how it positively transforms finances, while another mentions how it helps take control of money.
...Profit First is the cash envelope system for businesses and I believe it will alleviate some of the cash stress in my business like I saw in my...Read more
...You can build a profitable business and, as an owner, ensure you are prioritized with owner's compensation and profit payouts!...Read more
...So, yes, I am a business! This book absolutely changed the way I work with my business finances and I'll never go back....Read more
Profit First just makes sense. Great book, although I hate reading so I listened to the audible version....Read more
5 customers mention concepts, 5 positive, 0 negative
Customers appreciate the concepts of the book, with one noting that the philosophy is more fluid than other business books.
Profit First shares some powerful, yet simple, principles that will positively transform the finances of any size business....Read more
...We have yet to implement it in our business, but it makes so much sense. It's simple. Put your profit first....Read more
...This book is worth keeping and reviewing. His philosophy is more fluid than other business books I've read, and I greatly appreciate that approach.Read more
Especially if you own your own business! The whole idea makes perfect sense....Read more
5 customers mention cost-effective, 5 positive, 0 negative
Customers find the book cost-effective, with one mentioning it helps reduce expenses and another noting it's worth keeping and reviewing.
...Mike is all about showing you the money. We have yet to implement it in our business, but it makes so much sense. It's simple. Put your profit first....Read more
...This book is worth keeping and reviewing. His philosophy is more fluid than other business books I've read, and I greatly appreciate that approach.Read more
The biggest benefit from reading this book has been to greatly reduce my expenses and train me to spend less over time. That means more profit....Read more
...Its not for the faint of heart, but I promise, it will be worth it....Read more
⭐️⭐️⭐️⭐️⭐️ Game changer for small business owners!
5 out of 5 stars
⭐️⭐️⭐️⭐️⭐️ Game changer for small business owners!
I started reading Profit First earlier this year, and it completely transformed how I handle money in my business. After finishing the book, I worked with my bookkeeper to set up all the accounts Mike recommends—and for the first time, I’m consistently setting aside profit! My OPEX dropped, my awareness skyrocketed, and I finally feel in control of my finances instead of overwhelmed by them. I’m even working on applying the same system to my personal life now. If you’re a small business owner who’s tired of wondering where the money goes, this book will give you structure, clarity, and peace of mind. Highly recommend!!!
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Top reviews from the United States

  • remnarc
    5.0 out of 5 stars Game-Changer for Small Business Finances!
    Reviewed in the United States on March 14, 2025
    Format: HardcoverVerified Purchase
    Profit First is hands down one of the most impactful books for entrepreneurs and small business owners. Mike Michalowicz breaks down financial management into a simple, actionable system that ensures you pay yourself first—rather than waiting to see what's left over.

    The biggest takeaway? Stop running your business check-to-check and start prioritizing profit. The step-by-step approach makes budgeting easy to follow, and the psychology behind the method is eye-opening. Implementing Profit First has helped me gain control over cash flow, reduce financial stress, and actually see my business grow sustainably.

    If you're struggling to make sense of your business finances or feel like you're working too hard for too little return, this book is a must-read. Practical, engaging, and truly transformative!
    10 people found this helpful
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  • Brent
    5.0 out of 5 stars A Financial Revolution for Business Owners and : MY 2nd Copy!!
    Reviewed in the United States on September 26, 2023
    Format: HardcoverVerified Purchase
    Mike Michalowicz's "Profit First" introduces a groundbreaking concept that flips traditional financial wisdom on its head: prioritize profit first. In a world where businesses typically emphasize revenue and expansion, this book campaigns a refreshingly unconventional approach—a perspective most entrepreneurs desperately need.

    WHY NOT PAY YOURSELF FIRST?????

    Michalowicz's engaging storytelling, enriched with real-life examples, simplifies finance and makes it accessible to all readers. The book's central focus is change in your approach to finances and how you think about your money. The system reshapes the reader's financial mindset, promoting disciplined money management. Prior to using this in business, I applied the system to my Personal/Professional Career and financials. BOOM!!! I had to personally reach out to Mike, this is powerful stuff!!

    The core takeaway is the "banking" system, without giving away too much. This approach compels business owners to allocate funds thoughtfully, breaking free from the paycheck-to-paycheck cycle, even within their businesses.

    "Profit First" isn't just a book; it's a financial EXPLOSION kit. It challenges the hear say and presents an unconventional approach to financial growth. The message is clear: prioritize profit, and your business will reward you with resilience and prosperity.

    "Profit First" ensures sustainable expansion. It shifts the focus from revenue to profit—a transformative concept in the world of business.

    The Profit First formula is straightforward yet profoundly impactful—a testament to the idea that the most effective solutions are often the simplest ones.

    In summary, "Profit First" is a revolutionary habit building process of financial management, offering a roadmap to lasting profitability and resilience.

    BUY THE BOOK & TAKE ACTION, OTHERWISE YOU HAVEN'T DONE ANYTHING TO BETTER YOUR PUMP!!
    16 people found this helpful
    Helpful
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  • AlexS
    5.0 out of 5 stars A Refreshingly Simple Way to Think About Profit
    Reviewed in the United States on March 13, 2026
    Format: HardcoverVerified Purchase
    I’ve read a lot of business books about money, but this one finally made it click. Mike Michalowicz explains why the traditional formula of sales minus expenses equals profit doesn’t work for most small business owners. Instead, he flips it so profit comes first, which sounds simple but completely changes how you run a business. The envelope-style system for allocating money is surprisingly practical. I started applying it to my business accounts and immediately felt more in control of my cash flow. If you’ve ever wondered where all your money goes at the end of the month, this book is a great place to start.
    Helpful
     Report
  • SanDiegoMama
    5.0 out of 5 stars Profit First Made a Difference
    Reviewed in the United States on October 16, 2018
    Format: KindleVerified Purchase
    Update: May 11, 2019 ***

    I was just browsing Amazon and came across this book again. I thought it would be helpful to give an update. My first review was probably October 2018. The advice / method in the book really worked for us and it has helped us so much that I tell every business owner about the method.

    I went back and reread the book in December to make sure we were doing it right. We were but we tweaked some things in Feb. (Like I take profit out every month - 100% of what I saved) We still do our cash flow and pay bills 3 times a week - doesn't work for us to do it 2 times a month. Too many bills since we do a lot of manufacturing. Although we are now starting to get ahead of bills by a week or two so when that happens we reduce how often we sit and do cash flow and pay bills.

    We started out doing 3% profit and now were are up to 8.5%

    For the first time ever I wasn't angry about paying taxes. Having a separate account to save for that is brilliant. We save for end of year taxes, payroll taxes and estimated taxes. We had $8000 or $9000 extra in the account after April 15 so we moved that money to pay off our Line of Credit (taken out a few years ago when we owed so much in taxes and had not saved)

    I don't wake up with the sick feeling every day wondering if enough money is coming in to pay the bills.

    We made some other changes to stop the roller coaster since we do manufacturing we get a lot of money in and then a lot of money out.

    We pay payroll every week - not every 2 weeks.
    We moved other things to pay once a week instead of every month or 2 weeks. Just
    helps us (having payroll taxes in another account that is saved for helps as well since that was a big expense once a month)

    Personally we also set up accounts differently. I pay my car payment once a week (1/4th of a payment), my line of credit also once a week. I also put in 1/4 of my mortgage into a savings account since they only let me pay them once a month. All of that reduces strain and the roller coaster balances.

    Union bank is trying to charge me fees for so many transfers per month. I've been in talks with them as I'm not happy that they are charging me when it is in between my own accounts and it isn't a cost to them however since we are far more stable and profitable now, I am starting to reduce how often I transfer the funds out of income into Profit 1, Taxes, Sales Tax, Profit 2 (college account) and then to Operating expenses. It was every day before but now we are getting down to 2 times a week.

    Hope this helps! By the way, I'm still shocked it works or makes a difference. I thought we were frugal before so I'm not sure how we are seeing more profit but we are.
    ______

    My husband and I have had a business for over 14 years. We first read and started implementing the plan in the book about 2 weeks ago. I found the book helpful. Some solid new ideas that I've not read anything else. It did help us to pull out taxes and a small amount of profit first before putting the rest into an operating expense account. We used to take an owners draw when we had a large positive swing in cash flow. Later we'd be scrambling to pay payroll or sales tax . Now I feel like I have a bit more control over our income and expenses. Basic premise is about changing human behavior. When you make more you tend to spend more. You wonder where the cash went at the end of the year and you're upset that you owe a lot in taxes and dont' have the money. Overall I feel like we have a better pulse on our cash flow and can do something immediately if we notice that it has dropped too far. The Author recommends doing bills on the 10th and 25th. I think that might work for us in 6 months or a year but for now 2 times a week is better while we get things back under control. Hope to finally get into a habit of once a week in the next month. We pay ourselves and our employees once a week now because it made cash flow more even and our employees appreciate seeing a check once a week too.

    Dont' expect the author to be. an accounting genius - you'll be disappointed however the ideas he has come up with do seem to help. It is about human behavior and changing it by putting some checks and balances in place.
    41 people found this helpful
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  • Arabella
    5.0 out of 5 stars Profit and Cash flow tips for business owners
    Reviewed in Australia on January 19, 2024
    Format: HardcoverVerified Purchase
    Mum bought this book and she reckons it’s pretty good.
    It’s a cash flow system for people who love business but need some help setting up a cash flow system to help them maximize the profit from the business they love running without causing them stress.
    Worth a read for small and medium business owners.
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  • Vicky Quinn Fraser
    5.0 out of 5 stars A tough wake-up call for business owners – and a simple system to improve and thrive
    Reviewed in the United Kingdom on January 18, 2019
    Format: HardcoverVerified Purchase
    Oooof. This book made me take a long, hard look at my finances and I did not like what I saw.

    Some books are life-changing, and I think this is one of them. I loved it. Because, like many business owners, I often don’t really know what’s going on with my numbers... and that’s a problem.

    Maybe this sounds familiar to you: “You’ve done great! You’ve made a profit of [lots of moolah] after taxes and expenses!” And you do a little jig, because how cool is that?

    Only... where is that money? It’s certainly not sitting in a fat pile in your bank account, is it? So you look at your accountant, perplexed, and say, “Wait. I’ve made all that profit... but where is it?”

    “Oh, it’s gone,” she says airily. “You’ve spent it.”

    “What? How can it be profit then?”

    At which point your head explodes.

    Well, this is the book you need to read. It helped me understand exactly what's going on.

    The author has been in exactly our position – and much, much worse. He’s gone from millions in the bank to his last few quid – then lost that. And he’s been as confused as the rest of us.

    So he wrote this book to come up with a system that works for real humans. Because (sorry accountants!) most of us business owners do not and will not ever think like accountants. We will not sit for hours poring over statements and spreadsheets and profit and loss calculations. We just won’t.

    So the author came up with the Profit First system. My accountant tells me it’s the accounting system under another name, but that’s the point. He uses normal-people words, ideas, and examples. He takes accounts and puts them in a format I can understand – and gives me a system I can not only understand but will actually use.

    When you’ve read the book, do the things the author tells you to do. Do the instant assessment of your business. It’ll hurt, but only briefly – then you can start to fix things. This is one of those things you won’t want to do because it’s scary. But once you face the music and know exactly what’s what, it’s like a huge weight has been lifted.

    This is a beautifully simple book that takes a complicated subject and makes it easy to understand for those of us who can't get their heads around traditional accounts.
    2 people found this helpful
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  • PokemanGX
    5.0 out of 5 stars Very good book in profit management!
    Reviewed in Japan on March 8, 2026
    Format: HardcoverVerified Purchase
    Nice read very informative
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  • Leen
    5.0 out of 5 stars Besonders hilfreich und gleich unterhaltsam
    Reviewed in Germany on September 13, 2022
    Format: HardcoverVerified Purchase
    Dank der Sichtweise und genauer Vorgehensvorschläge von Mike im Buch konnte ich nach jahrelangem Ausprobieren, Schimpfen und Stressen mein Unternehmen finanziell gesund pflegen! Und das ist auch gar nicht schwierig mit den vielen Ansätze aus dem Buch, ich war nur als nicht BWL-er nicht darauf gekommen. Absolut empfehlenswert!
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  • Amazon Customer
    5.0 out of 5 stars Nice
    Reviewed in the Netherlands on October 8, 2023
    Format: KindleVerified Purchase
    Great system to use for starting companies. I enjoyed Reading this book. IT was very clear and easy to read
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