Profit First
Book description
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,…
Why read it?
1 author picked Profit First as one of their favorite books. Why do they recommend it?
Profit First is a banking system that accounts for the inevitable human error of “ooh, there is money in my account, I can afford that”.
This book helped me set my businesses up so that I was actually able to keep some of the income that was coming in from them, rather than continually getting to the end of the month and wondering where the revenue I had generated went.
This is a must read for self-employed and small business owners, and a solid read for personal finances too!
From David's list on service members who want to achieve financial freedom.
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