"Mikchael Michalowicz (born September 19, 1970) is an American author, entrepreneur, and lecturer. He is the author of the business books Clockwork (releases August 2018), Profit First Revised & Expanded (February 2017), Surge (May 2016), Profit First (July 2014) , The Pumpkin Plan (July 2012) and The Toilet Paper Entrepreneur (September 2008), is an advocate of a business philosophy by the same name, and is a former small business columnist for The Wall Street Journal. He is the ""Business Rescue"" segment host for MSNBC's Your Business. He hosted the reality television program called Bailout!.
Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability. Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that: · Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances. · A small, profitable business can be worth much more than a large business surviving on its top line. · Businesses that attain early and sustained profitability have a better shot at achieiving long-term growth. With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of.