Allocate a percentage of revenue to profit from "summary" of Profit First by Mike Michalowicz
When you allocate a percentage of revenue to profit, you are ensuring that your business is consistently setting aside money for the future. By taking a portion of your revenue and designating it as profit from the start, you are prioritizing the financial health of your business. This practice forces you to focus on profitability as a key metric for success. Setting aside a percentage of revenue for profit is a proactive approach to financial management. Instead of waiting until the end of the year to see if there is any money left over, you are making a conscious decision to allocate funds for profit from the very beginning. This ensures that profit is not an afterthought, but a priority in your business oper...
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