How to Start a Profitable Business? Apna Karobar | Profit first book summary

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00:00 - Valentine’s Day Night (Mike story)
01:42 - 4 Key principles for any business
03:27- The old formulae trap
04:09 - Parkinson Law
04:47 - Primacy Effect
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07:26 - No. 1 Use smaller plate
09:50 - No.2 Serve Sequentially
11:36 - No. 3 Remove Temptation
12:49 - No.4 Enforce a Rythm
14:59 - Businessman Amit Example for 6 steps
14:44 - step 1 Create five checking accounts
15:34 - Step no 2 Find your allocation percentage
16:16 - Step no 3 Establish Target
16:52 - step no.4 Allocates fund
17:35 - Step no.5 increase profit gradually
18:02 - Step no.6 move profits to separate banks

Profit First" by Mike Michalowicz offers a new approach to managing business finances. The book challenges the traditional method of subtracting expenses from revenue to calculate profit and instead advocates for a system where businesses prioritize profit first.

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