The 7 Bank Accounts Your Business Should Have

The 7 Bank Accounts Your Business Should Have

Why should you have 7 bank accounts for your business? What should each account be designated to? Mike Michalowicz, author, entrepreneur, and business makeover specialist, says that every business owner should have 7 bank accounts. He asserts that having your money organized into several designated accounts works better than having spreadsheets or financial software. Here’s how each of your bank accounts should be used.

The 4 Poverty Remedies From The Bottom Billion

The 4 Poverty Remedies From The Bottom Billion

What poverty remedies can the West provide to developing nations? What mistakes do Western countries often make when trying to provide aid? In his book The Bottom Billion, economist Paul Collier proposes four ways the West can assist poor nations. His suggestions are foreign aid, military intervention, laws and charters, and trade policies. Let’s look at each one of Collier’s poverty remedies in detail.

Profit First: Review, Background, and Critical Reception

Profit First: Review, Background, and Critical Reception

Looking for a Profit First review? How was the book received by readers and critics? Mike Michalowicz’s Profit First criticizes traditional business accounting methods by claiming that they are unintuitive, and that their unintuitive nature leads many entrepreneurs to failure. He then outlines an alternate accounting system, which he calls the Profit First method. Here’s a review and background of Profit First by Mike Michalowicz.

Profit First: Book Overview (Mike Michalowicz)

book summary

What is the Profit First method? Why is the Profit First method better than the traditional business accounting method? In the Profit First method, a percentage of income is set aside as profit before any expenses are calculated. This allows an entrepreneur to do their business accounting in a simple and intuitive way, and to increase their business’s profitability and stability. Here’s an overview of the book Profit First by Mike Michalowicz.

Crunchyroll and Funimation: Is the Merger a Mistake?

Crunchyroll and Funimation: Is the Merger a Mistake?

What does the Crunchyroll and Funimation merger mean for the two streaming services? Should you be worried or excited about the future of anime streaming? Over the past few years, Sony managed to acquire two of the top anime streaming services: Crunchyroll and Funimation. Inevitably, Sony has finally begun to merge the two competing services into one platform. Here’s what you need to know about the Crunchyroll and Funimation merger.

How to Lower Labor Costs: Keep, Improve, or Remove

How to Lower Labor Costs: Keep, Improve, or Remove

Do you monitor your labor costs? How can you reduce your labor costs without compromising the business? According to Mike Michalowicz, the author of Profit First, you should manage your labor costs like you manage your other expenses. He provides three guidelines for increasing labor efficiency and explains how to determine the number of employees you should have based on your company’s revenue. Here’s how to lower labor costs using Michalowicz’s “keep, improve, or remove” framework.

The Real Cost of a PS5: How Scalpers Own the Market

The Real Cost of a PS5: How Scalpers Own the Market

Why are PlayStation 5s so hard to get right now? How are online scalpers contributing to the PS5 problem? The PS5 was released in November 2020. However, a large portion of the gaming community has yet to get their hands on one. This is due to a number of factors: COVID, the microchip shortage, and most frustratingly, scalpers. Here’s how PS5 scalpers are contributing to the console shortage.

How to Manage Your Finances: The Profit First Method

How to Manage Your Finances: The Profit First Method

Do you want to learn how to manage your finances? How can you apply the Profit First method to your personal finances? The Profit First method was created by entrepreneur Mike Michalowicz to help businesses succeed in the long term. However, the three principles of the Profit First method can be applied to your personal finances to help you get out of debt and save money. Keep reading to learn how to manage your finances and increase your financial stability by following Mike Michalowicz’s Profit First method.

How to Get Out of Business Debt: 3 Steps to Freedom

How to Get Out of Business Debt: 3 Steps to Freedom

How common is business debt? What are some things you can do to reduce your company’s debt burden? Studies show that 79 percent of all U.S. small and medium companies are in debt, and that 58 percent of all U.S. small and medium companies are over $50,000 in debt. According to Mike Michalowicz, the author of Profit First, pulling out of debt begins with ruthlessly cutting your expenses. Here’s how to get out of business debt in three steps, according to Michalowicz.