In the beginning – profit!

marketing management kotler 15th edition

What can you do to perceive your business or work as a source of wealth, and not as a monster devouring all your time and energy? 7 tips from Mike Mikalowitz, the best-selling “Profit First”.

  1. Assess your business: Calculate the share of top expenditures in income for 12 months.
  2. Open several accounts for the accumulation of funds, including: for profit, for rewarding yourself; for taxes; for operating expenses.
  3. Train yourself to set aside 1% of any income to an account for accumulating profits.
  4. Reduce costs as much as possible by looking for free or cheaper alternatives to services you regularly use. Praise yourself for every amount you save.
  5. Distribute receipts and pay bills twice a month on the 10th and 25th.
  6. While improving your financial condition, avoid the temptation to significantly improve your standard of living.
  7. Move towards the desired indicators gradually and with discipline, do not take sudden steps.

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