Category

Profit First

No. 1 Lesson Apollo 13 Can Teach Business Owners About Profitability

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Humans can accomplish amazing things with limited resources — as the Apollo 13 mission taught us.   The mission was to land on the moon, but an explosion in one of the oxygen tanks forced the crew to return to Earth as quickly as possible with no moon landing. Losing one oxygen tank meant that at some point before the shuttle made it back to…

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Diet Your Way to Healthy Cash Flow

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Microgym owners, you are in for a treat because you have an advantage over other business owners: You understand fitness, health and losing weight better than anyone.   It just so happens that in “Profit First,” Mike Michalowicz uses the analogy of healthy eating to explain the Profit First core principles. This is like getting a head start to first place on the podium!  …

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Accounting System a Mess? Fix it Fast!

By Accounting, Profit First No Comments

Mindset Change   “Accounting is a necessary evil.” Geez! That sounds like a prison sentence where you are stuck having to do something even though you hate it. We can never get excited about something if we think it’s evil. Accounting is necessary. Not evil. When it’s approached properly… Your accounting efforts will produce financial statements that give you insights into your cash flow. It…

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