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INSIDE This Issue The Most Exhausting Summers of My Life page 1
How History Can Help You Understand COVID-19 Data
The GoodWork of the Recovery Centers of Arkansas page 2
The Rising Cost of COVID-19 Take a Break page 3
What Small-Business Owners Can Learn From ‘Profit First’ page 4
MANAGE CASH FLOW WITH ‘PROFIT FIRST’
R unning the day-to-day operations of a business while also managing the money can be difficult to juggle for many small-business owners. Even if they have systems and processes in place, these methods don’t always work as well as they should and can easily become difficult to navigate. When you hit this kind of wall, it can be hard to keep your focus on growing a profitable business. Enter Mike Michalowicz and his book “Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine.” The book was published in 2014 but was updated in 2017. It’s been a huge hit, garnering rave reviews from the business world due to its simple yet innovative profit-first formula. The book has been so successful because Michalowicz has faced these types of challenges before, and he used these experiences to develop principles that make life (and business) that much easier for small-business owners. You’ll get the scoop on Michalowicz’s profit-centered approach and how his innovative system flips traditional accounting on its head, making money management more streamlined. If you find yourself struggling to manage the Mike Michalowicz Shares What You Need to Know
financial side of your business, then he has you covered. His tips are especially useful for businesses that have cash flow that varies from month to month or that have a peak season. Michalowicz’s insight is even more valuable in the wake of the COVID-19 pandemic, as business owners and entrepreneurs everywhere look to get back on track in the second half of 2020, boost their businesses, and recover lost profits.
If you’re a seasoned business owner and are already money-minded and exceptionally organized, this book will likely serve as a quick refresher, but if you’re a startup business owner and want to improve your accounting systems and catapult your profits, then “Profit First” is just what you need.
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