Childfree Life by Design

Profit First (Book Club)

Dr. Jay Zigmont, CFP® & Bri Conn Episode 75

Profit First by Mike Michalowicz tackles a common blindspot in businesses: financial clarity with a focus on making profit a priority from day one. By allocating funds for profit upfront, businesses ensure financial stability and sustainable growth, debunking the myth that profit is a dirty word.

 

Bri introduces the five foundational accounts recommended by the book: income, profit, owner's pay, taxes, and operating expenses. These accounts provide a clear framework for financial management, empowering entrepreneurs to thrive without compromising profitability.


Join Dr. Jay and Bri as they unravel the secrets to building a successful business while keeping profit at the forefront. Join next month for a review of Your Money or Your Life by Vicki Robin & Joe Dominguez.


Resources:

+ Profit First by Mike Michalowicz

+ Your Money or Your Life by Vicki Robin & Joe Dominguez

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Disclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.