Profit first

The author of the classic book presents the Pumpkin Strategy as a simple and exceptional solution for cash management, helping small businesses escape the cycle of destruction and achieve immediate profitability. Traditional accounting uses the logical formula (even if incorrect): sales - expenses = profits. The problem is that companies are managed by humans, and humans are not always logical. Successful entrepreneur Mike Mikalovich developed a behavioral approach to accounting to reverse the formula to: sales - profits = expenses. Just as the most effective weight loss strategy involves reducing food portions with smaller plates, Mikalovich explains that by reaping profits first and allocating only what remains to expenses, businessmen will transform their companies from money-consuming monsters into profitable milk-producing cows. Book information: Author: Mike Mikalovich Translation: Tasneem Al-Munjid Publication Year: 2023 Publisher: Aseer Books Number of Pages: 224 Cover Type: Paperback