Profit First, The Storage Stud POV

Recently, someone asked Fernando how he handles his money management or cash flow management not only for his personal income but with the multiple businesses that he runs as well.

There is a great book that he would like to recommend and it’s called “Profit First” by Mike Michalowicz.

According to him, the basis of Profit First is number one, you have to take a profit. As opposed to what most entrepreneurs do they spend first and then just see if there are some profits left.

This book focuses on profit first and then compute all expenses to see how much will be placed in operating expenses. If you are not making enough to sustain what you need in the operating account then you must realize that there is something wrong with your system and you need to fix that.

There are levels of profit first. How it works is you set up multiple bank accounts for each business or for each venture even for your personal life as well. It goes all the way from a start-up that is not making any money or revenue all the way up to an F-class business that’s making $50million in real revenue per year.

If you continue watching this video you’re going to have a vivid idea of what is Profit First. Listen to Fernando as he further discusses the details of this book.

Profit First, The Storage Stud POV

Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,

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