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Book Quote from Profit First by Mike Michalowicz
We assume that multimillion-dollar companies are turning big profits, but it’s rare to find a truly profitable business.
Book Quote from Profit First by Mike Michalowicz
A lack of profitability is consistently the major reason cited for business discontinuation.
Book Quote from Profit First by Mike Michalowicz
The old, been-around-forever, profitless formula is: Sales – Expenses = Profit The new, Profit First Formula is: Sales – Profit = Expenses The math in both formulas is the same. Logically, nothing has changed. But Profit First speaks to human behavior—it accounts for the regular Joes of the world, like me,
Book Quote from Profit First by Mike Michalowicz
Putting your nose to the grindstone is a really easy way to cover up an unhealthy business. We think that if we can just work harder, longer, better—if we can just hold out—something good will happen one day.
Book Quote from Profit First by Mike Michalowicz
Small, repetitive, continuous actions, chained together, build momentous momentum.
Book Quote from Profit First by Mike Michalowicz
Profit is not an event. It's a habit.
Book Quote from Profit First by Mike Michalowicz
A financially healthy company is a result of a series of small daily financial wins, not one big moment. Profitability isn’t an event; it’s a habit. WHY
Book Quote from Profit First by Mike Michalowicz
All revenue is not the same. If you remove your worst, unprofitable clients and the now-unnecessary costs associated with them, you will see a jump in profitability and a reduction in stress, often within a few weeks. Equally important, you will have more time to pursue and clone your best clients.
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