Profit First by Mike Michalowicz

• The rules for running a profitable business are not complicated, yet most entrepreneurs and small business owners don’t know about them, don’t follow them, or don’t understand them.
• Profit First is a simple accounting system that every small business owner can implement immediately to get from startup to profitability faster.
• No more running on fumes, no more wait and see, no more hoping. Just follow four simple rules, and you’ll never have to worry about managing a profitable business again.
• Profit First is the first book to quantify what percentage of money flows through a business should be directed back into the business as profits.
• Furthermore, it explains how to make sure the money that goes into the business is invested in the right way. For example, it explains the difference between assets and expenses, the significance of cash flow and how to differentiate between the cost of doing business and the price to the customer.
• Profit First will enable small business owners to take a leap of faith and invest a large portion of their profits back into their business rather than paying taxes, building up cash reserves or paying off debt.
• This leap of faith is the most important shortcut to generating long-term profits and growth for a small business.