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Business · Book
Profit First
By Mike Michalowicz
Human Upgrade Score92/100
A practical cash-flow system that flips the GAAP formula. Take profit first, then run the business on what's left. Simple, ruthless, effective.
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Score Breakdown
Impact93
Practicality92
Timelessness91
ROI92
Re-read Value90
Lawrence's Take
"This system saved me from the classic entrepreneur trap: lots of revenue, no profit."
5 Key Takeaways
- Sales − Profit = Expenses. Always pay yourself first.
- Use multiple bank accounts to force allocation discipline.
- Parkinson's Law applies to money — capacity expands to consume it.
- Small, consistent profit beats hoping for a big quarter.
- Cash-flow clarity removes more stress than revenue ever will.
3 Action Steps
- Open 5 bank accounts: Income, Profit, Owner Pay, Tax, OpEx.
- Transfer 1% of every deposit to Profit starting this week.
- Do a quarterly profit distribution — actually take the money.
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