I love efficiency! And in general an envelope system is a great way to do that...but with actual physical envelopes, it gets a little cumbersome.
This year, I implemented Profit First in my business as I read this book. It was one of the first books I read.
I love the siplicity & actionable steps that Mike provides. Some people have complained that there's nothing ground-breaking here but I tend to disagree.
Most people I've worked with as a small business systems consultant need a little help organizing most parts of their business. That includes their money. Whether they're just starting out or have been in business nearly 10 years, some haven't quite figured out how to manage the money in a way that allows them to have some left over at the end. And at the same time, removes the hassle of physical money management (envelopes and cash). Each account makes your numbers visible at a glance!!!
This book gives you a system to do just that. Turning a money gobbler into an organized set of pre-assigned buckets for each of your business dollars.
For someone who loves both numbers and systems, the Profit First method has given me both. Got to say that having the ability to actually draw a profit in the first quarter this year and KNOWING what that amount should be has been powerful! The emotional ups and downs of running your own business can be challenging. And seeing that profit account grow gives you something to look forward to as you work through the good and the rough days of owning a business!
Mike provides guidelines for how to handle the lingering questions about managing the $$ that come up for a lot of business owners. I've shared this book with multiple business owners since reading and implementing it in my own business.
If you're in a spot where you're unsure about how to organize your business finances or haven't taken a profit distribution in years, or haven't ever even had a profit to speak of, this book is a great place to get started!!
Definitely worth reading! Really glad I implemented it!
I've even started using this as a client gift during my process and systems work with clients. And so far, everyone I've sent it to has given it rave reviews as well.
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
4.8 | 9,173 ratings
Price: 15.75
Last update: 01-07-2025
Top reviews from the United States
Sam
A Simple System that WORKS!!! Definitely worth the read!
Reviewed in the United States on April 18, 2022
Javion J. Saunders
A Game-Changer in Business Finance
Reviewed in the United States on December 8, 2023Nic Natarella
It is THAT easy.
Reviewed in the United States on April 22, 2024