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There are a lot of crappy business books on shelves. There, I said it. And I meant it. Reading an amazing book about business can be a game changer, but, unfortunately, I am so hesitant to try them because I’ve been burned too many times.
Have you ever felt that? The excitement of buying a book that everyone has hyped up as the one thing that will change everything, yet it is nothing but a dud. And you’re stuck wondering if the problem was you or the book. (If you’re anything like me, you automatically assume you are the problem.)
But, honestly, my friends, I don’t think we are the problem. I think the problem lies with the books that offer fluff without anything to back them up. Books that proclaim to solve a problem when the true problem is that they start collecting dust once you stop reading halfway through.
There is one business book that I’ve read that is such a game changer that I recommend it to everyone. Everyone. I truly believe that Profit First by Mike Michalowicz has something for everyone.
(And, in case anyone is wondering, this post isn’t in any way sponsored or affiliated with the book. I bought it with my own money and don’t get any kickback if you go ahead and buy it. Just, do me a favor, and buy it from an Indie bookstore. Amazon doesn’t need your money.)
At first glance, Profit First might seem like a boring book about accounting minutia for folks who are making way more money than you. I’ll admit, I’m guilty of think that about myself. Before even starting the book, I found myself thinking ‘Profit? What profit?’. And that line of thinking was 100% true. I knew that my business should be making enough money to cover expenses, pay me, and have some leftover, but I had no idea how to figure that out.
How was I supposed to save money when I wouldn’t even know what my expenses might be?
How much should I be putting away for taxes?
How do I know when expenses are getting too high and I should try to cut back?
How do I manage my money to ensure that I am actually able to pay myself?
All of these were questions that I had that I felt like I couldn’t answer. Even the thought of Googling them felt like too much because then I would have to read through tons of hits (some good, some bad, and some mediocre) to try to piece together answers.
Thankfully, Profit First has all of that information and more. But the best thing that the book has is a table that will help you figure all of this stuff out based on the amount of money that your business is bringing in. You read that right. No guesswork. No wondering. The core of this book’s philosophy is based on a number that you can figure out and then apply to your business.
On top of that, Mike has strategies for getting your business back on track if you feel like you’re so far away from the book’s philosophy that you don’t even want to try.
Before you go any further, I do want you to know that I had moments of overwhelm while reading the book. There is so much in it to digest and implement that it can seem impossible. I promise you, it isn’t.
When I first started the book, my numbers were totally out of whack and I thought that I would never be able to start meeting his goals, never mind using his system on a consistent basis. But, I’m here, almost a year later, to tell you that I’ve been consistently following his steps without any issues. I still am not quite where I should be, but I’ve made huge strides and I have a tangible way to measure my progress.
In a sea of business books that may or may not be great, I promise that Profit First is the real deal. It will not only transform how you think about your business finances, but also give you the steps to make actual change. Mindset is great, but it needs to come with action. This book will offer you both and is written in a way that you can implement it no matter how big or small your business is.