If you're an entrepreneur struggling to make your business profitable—or just starting out and want to avoid common financial pitfalls—Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz might be the most important book you read this year.

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1. Know Your Business

2. Grow your Business

3. Increase Profit - Increase Revenue

4. Increase Profit - Decrease Expense

5. Get Paid Faster - Accounts Receivable

6. Stay Current with Vendors - Accounts Payable

7. Decrease Tax Burden and Penalties