There is a dirty little secret in the entrepreneurial world: you can have a business with great sales and topline revenue, and very little or no profit. Year after year, you can plow money back into the business to grow it, thinking that one day, it will pay off. But, sadly, for many entrepreneurs, one day never comes. That’s why, when Mike Michalowicz’s new book, Profit First, came out last week, I got so excited! Profit First will change how you manage the finances in your business…for the better. Profit First will make your business instantly profitable. Even better, when you implement Profit First for the long-term, it will solve so many of the problems that keep us business owners awake at night.
As many of you know, I implemented Profit First in my own business last year, and I’ve helped several of my clients implement it as well— with some exciting results. So I have been eagerly awaiting the release of Profit First to be able to share it with more business owners. Good news…it’s finally out!
It was great to finally get to read the book in its entirety. As I was reading, I thought of one client after another who could benefit from implementing Profit First in his or her business. It occurred to me that there are at least 10 BIG questions and financial problems that Profit First can solve for business owners.
Here are the top 10 problems that Profit First can solve for you in your business:
Laying awake at night worrying about cash flow
Drowning in debt
Feeling overworked, yet uncertain if you can afford to hire
Difficulty meeting payroll as sales fluctuate, and questioning if you are overstaffed
The emotional roller coaster that comes from the peaks and valleys in cash flow from month to month
Putting everything you have back into the business. When does your business take care of you?
Questioning if you should sell equipment to free up cash
Not paying yourself enough and resenting your business for eating up all of your resources
Going year after year without taking a vacation
Getting hit with a huge tax bill after a good year and a significant increase in sales
If you find yourself laying awake at night worrying about any of these problems, I encourage you to pick up a copy of Profit First and start reading. The answers are there for you!
When should you start implementing Profit First? Now! It doesn’t matter how good or bad your current cash flow position is, you will benefit from Profit First. Profit First is all about implementing healthy cash management habits in your business. You start slowly.
If you want a preview of the first 5 chapters of Profit First, I’ve got those here as a special gift for you. Please share this with other business owners. Let’s put PROFIT back in business!
Small steps, taken consistently in the right direction, lead to BIG change.