PROFIT FIRST by Mike Michalowicz | Core Message

[@pieEdgara]

Best summary of this book. Especially because you use examples from other books like Atomic habits and everything makes so much more sense now.

[@kuunami]

I see the power of this system. It forces you to spend responsibly and look for ways to reduce costs.

[@AhmetKaan]

*Don't be afraid to start all over again.* *This time you are not starting from scratch.* *You are starting from experience.* 📚

[@wrjackson02]

This is great advice!

[@ascendwithemily]

Deep x

[@ascendwithemily]

✊️✊️✊️

[@michaelboulware1240]

People need to apply this procedure to their personal budgets as well

[@DemetriPanici]

*”When something is important enough, you do it even if the odds are not in your favor.” - Elon Musk*

[@charlierhea3712]

Solid video. Easy to understand. Simple. Clear. Keep up the great work!

[@AhmetKaan]

Work as hard as possible in one thing and see what happens. _~Jordan Peterson_ *I wish you the best in your life my friend. I am cheering for you...* 🙂

[@sdobier]

I read this book a few years ago and wanted a quick summary of it. Thank you! Your visual aids and analogy are great!

[@NathalieLazo]

Dear lovely person that's reading this, we may not know each other but I wish you all the best in life! ✨ I believe in you! Love - Nat ❤️

[@dapro2021]

Right back at ya! Much success to you!

[@pintooo1359]

Wow! This is so valuable. Thank you so much Productivity game.

[@m.ahmed.y1723]

Honestly it changed the way I look at life

[@saeedakhtar0107]

Nathan wow, that was awesome. Thanks a million. Stay blessed 🤗👍

[@africalib78]

This was extremely helpful! I read the book and still had a very difficult time understanding the concept. This nailed it! I know exactly what to do now! Thank you so much! I appreciate you!

[@30p77]

me to

[@Luisasalon]

Excellent summary. Thank you.

[@floristoorenburg8947]

Thank you for the explanation! It was very clear to me and it motivates me to read the book.

[@JeromeFe]

Nathan you are the best summary presenter! Thanks for your great service & contribution!

[@idlestation]

Really glad I watched this. Thanks again for another amazing summary!

[@mangowolf5]

Wow I didn't know that Parkinson's law applied to money or food! I always thought it applied to time, but now that I think about it - it does apply to other aspects of life.

[@gengkia]

this video comes just in time! Thanks for your summary!

[@ascendwithemily]

Great review. Great presentation. Great narration. Thank u!

[@janmichaelmanuel3576]

Very well summarized. Subscribed.

[@Mynameisjoof]

Nice summary! Saved me hours of reading

[@lisaewell6377]

Thank you! 1st time I've found you and have already subscribed!🎉

[@AmityChrisCollins]

LOVE YOUR VIDEOS. Thanks for making such great summaries.

[@schuylerbrock]

Super helpful. Thank you!

[@TheGratitudeMan]

Wow... thats so organised way of implementing Profit First... Thank you for sharing especially the 1 Page Summary :)

[@TheMsShininglight]

Notes and Vocabulary: Sales Revenue Capital Profit Expense Budget Operating budget Lose a smaller plate= constraint your operating budget

[@TheMsShininglight]

The 4 business accounts: Operating expenses: rent, supplies; software, marketing, staff We are more resourceful when we need to be: force yourself to do with a smaller budget: how can we do this with 1/3 of the cost

[@TheMsShininglight]

Serve sequentially

[@TheMsShininglight]

Profit= nutrient dense salad : peace of mind (emergencies), highly rewarding, clear metric. Even if "you can't take profit" start small like 1%

[@TheMsShininglight]

3. Remove temptation

[@TheMsShininglight]

4. Enforce a rhythm: One minute scan of 5 bank accounts on 1st and 15th of each month: income, opex, comp, tax, profit

[@dswain1981]

Really useful Nathan, thanks for your ongoing efforts. 👌

[@mrsandlesseasttn7780]

Thank you for the summary! I need to do this. I have a 300k business but once the smoke clears there is very little left for myself.

[@prathmeshgawai56]

Great summery Nathan! Keep it up!

[@dr.denniskeenan6584]

Thank you. Very good.

[@TamarasAmazingArtAdventures]

Gee, thanks for this summary! So helpful.

[@chris.asi_romeo]

Great video. 💯👏👍 Explained well

[@LazyDayPool]

Very Useful!

[@guntherhofer1424]

like so often, great job Mr.

[@TipTopPets-bn9sv]

Well done. That was good, i am doing similar atm and this will help streamline it

[@lisabasham9226]

Serendipity- I’m in the 10k small business program and this book was brought up as a must read in one of our group discussions. Feel very pleased to have been able to so quickly get this overview. Thank you!

[@kombinatsiya6000]

Good luck with your business!

[@chantellecampbell8709]

Hi Lisa, what group are in you ?

[@lisabasham9226]

@@chantellecampbell8709 oh my goodness I think cohort 25

[@vb8682]

Also read, The Richest Man in Babylon

[@MrAnthonyKennedy1]

Thank you!

[@សេវាប្រឹក្សាយោបល់គ្រួសារ]

Love this book

[@mielpowell]

Great video! In regards to the 5 bank accounts, are all 5 accounts owned by the business or would the Comp or Owner account be your personal bank account?

[@olivedrab]

Does Mike make any mention on business partners in the book? Does this affect % split in any way?

[@IAMtheempress21]

This was awesome. Im reading the book and this is so much easier and faster lol. Do we open up the other accounts still as business accounts, correct? Business profit account, business OPex acct and etc? I read to get an account that doesnt charge monthly fees.

[@Tomplanmytrip]

Great job. Thanks ;)

[@JTCJTC-vj3ke]

Thumbs up and Subscribed. 👍

[@GoldAndSilver988]

How would this work for a one-man business selling books on Amazon?

[@blancalezama409]

Thank you Nathan. I appreciate the work you do for us...

[@HameedUnfiltered]

I think you should increase your volume a little bit.

[@AZMerf]

Scarcity drives innovation.

[@Caution2TheWind1]

Super practical

[@alakshmikishore605]

Phenomenal

[@cesarzunigany]

So if you create so many check accounts how do you avoid fees.

[@alvinbernardo9551]

I hope you will create for business adventures

[@JTCJTC-vj3ke]

Please do Traction by Gino Wickman Thanks in advance!

[@acextensionsinc]

🙏🏼✨🙏🏾 3:30

[@SaiKrishna-rq6pj]

Please make video on power book

[@coachkenny]

just implemented this in my business.

[@shantanukulkarni8883]

An year later, how did it go? Did it really work?

[@tysia422]

Could you tell me more about what it is COMP?

[@miriamnawagamuwa3835]

Salary

[@MarufHossenRAJSHAHI]

Great 👌

[@johnv1176]

May you be brilliant

[@evelic]

Dope.

[@1991xwx]

The pdf link isn’t for Profit First

[@dattrax7]

Thank you for the chart of his findings of the two tiers sizes of healthy businesses' allocation buckets. Much appreciated.

[@trureality7196]

I would like more insite

[@DehleezRealEstate]

What to do with that profit money??

[@Bacrenfencing]

Sooooo I need 7 bank accounts (each costing a monthly fee) and start allocating to each of them.................makes complete sense 🙄 Can you imagine doing your tax return and having to deal with 7 bank accounts......not for me I'm afraid

[@eriii23]

The link for PDF file doesn't work :)

[@ProductivityGame]

Should work now. Please try again

[@newupdate8227]

👍 😎 nice

[@janmichaelmanuel3576]

Profit first in a nutshell

[@mrrishiraj88]

🙏👍👍

[@etc_638]

🙏""Wating for that kinds of who brother support me ""😭😭😭🙏🙏🙏.........

[@AberrantArt]

This only works if there's a profit

[@waytogo11]

There's always Profit in Profit first

[@AberrantArt]

@waytogo11 lol not sure you understand what I mean. If the business is not making sales and the expenses are higher than the income, there's no profit. Example: my lemonade stand cost me $20 a day for lemons, cups and ice etc. If I don't sell he lemonade at the right price or simply don't sell much lemonade, there's no profit.

[@geoffl]

lots of feel good comments. No proof this actually works.

[@princethomas1566]

Money is an issue that everyone has for a better and luxurious life Life was hard for me until I started trading bitcoin and am now earning $18,435 per week..

[@olianderson710]

I make huge profits on my investment since I started trading with Mrs Christiana Robert, her trading strategies are top notch coupled with the little commission she charges on her trade......

[@tonyhooyer8997]

This is not the first time I am hearing of Mrs Christiana and her amazing trading skills but I have no idea how to get to her.

[@sandraken5250]

with the consistent weekly profits I'm getting investing with Mrs Christiana,there's no doubt she is the most reliable in the market. such a genius.....

[@brandonturk9796]

Don’t doubt Expert Christiana Robert she has brought me out of wrenches and to a better living option and I encourage newbies to trade with her

[@albertpitts417]

@@tonyhooyer8997 message 👆🏼

[@Rainy_Day12234]

Profit is a metric for wealth creation. If you can’t make a profit in business you’re not creating value for society.

[@vonbayernDE]

At first i was thinking. Ahhh... another reduce your cost/bootstrap advice. But is actually profound and more than that. Take 1% profit.

[@puneetjindal6426]

U block me destroy my career harmzaade.. Tum sab mere liye Mar Gaye..