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What the Heck is Profit First?

Mike Michalowicz

What the heck is Profit First?” An entrepreneur was explaining the system to a friend, and the concept of taking profit first before all else was confusing. The system is based on the principle that profits should be allocated first, rather than being an afterthought or a leftover.

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Bold Titles to Increase Customers

Mike Michalowicz

One of the first steps in building a profitable business is to attract your audience. How do we differentiate ourselves in this current climate to make our business stand out, increase customers and create that truly profitable business? What can we do to make them choose us? Take this magazine cover for example.

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How to Keep Your Job As Your Company Grows

Steve Blank

If you’re an early employee at a startup, one day you will wake up to find that what you worked on 24/7 for the last year is no longer the most important thing – you’re no longer the most important employee, and process, meetings, paperwork and managers and bosses have shown up. Here’s what I wish I had known.

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The Profit First Formula Explained

Mike Michalowicz

Man, do I get hassled about the Profit First formula. However, using the GAAP as your primary accounting method is the wrong way to grow a hugely profitable business. The GAAP (Generally Accepted Accounting Principles) formula for determining a business’s profit is Sales – Expenses = Profit.

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Why Tim Cook is Steve Ballmer and Why He Still Has His Job at Apple

Steve Blank

What happens to a company when a visionary CEO is gone? He tripled Microsoft’s sales to $78 billion and profits more than doubled from $9 billion to $22 billion. Most often innovation dies and the company coasts for years on momentum and its brand. Rarely does it regain its former glory. Here’s why. How to Miss the Boat – Five Times.

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Why Tim Cook is Steve Ballmer and Why He Still Has His Job at Apple

Steve Blank

What happens to a company when a visionary CEO is gone? He tripled Microsoft’s sales to $78 billion and profits more than doubled from $9 billion to $22 billion. Most often innovation dies and the company coasts for years on momentum and its brand. Rarely does it regain its former glory. Here’s why. How to Miss the Boat – Five Times.

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Organizing Your Cash Flow with Mike Michalowicz

Mike Michalowicz

But when you clean out your closet, man, does that feel good or what? Heck, it’s even color-coordinated at first. No surprise here but I like to review my accounts on the regular, and you better believe I implement Profit First. Profit account: Allocate a percentage of your income (e.g.,

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