Erika Jones, CFO, CCTAProfit First Professionals · Certified Fractional CFO and Profit First Professional

Profit First Myths| Profit First Doesn't Work

20 Apr 2021 · 1 min

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1:01

In this brief video, Profit First author Mike Michalowicz confronts the common myth that the Profit First system doesn’t work. He cites that over 500,000 companies have adopted the method and that thousands of case studies support its effectiveness. Michalowicz advises listeners to challenge skeptics by asking about their personal implementation experience—if they lack experience, their criticism is irrelevant; if they have tried it, their outcomes (whether success or failure) become valuable learning opportunities. The core message is to focus on real‑world evidence and to use skeptics’ experiences to inform one’s own application of Profit First.

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Hi, I'm Mike Michalowicz, the author of Profit First. I'm here today with you to bust myths. In fact, a common myth is that profit first simply doesn't work. I'm happy to report over 500,000 companies have implemented profit first, and that's growing daily. We've actually have thousands of case studies and reports also. And here's how you deal with someone that says, profit first doesn't work. Ask them, say, what's been your experience implementing it? You see, as an author, so many people came to me when I first started out and said, being an author will never work. You'll never make any money doing that. Well, that's a lie. So here's the technique I used. When someone says, it doesn't work, I ask that naysayer, what's been your experience implementing it or doing it? If they have no relevant experience, their feedback is irrelevant. If they've done it and failed, well, I want to learn from that. If they've done it and been successful, I want to learn from that, too. If it's people who've actually done it that I want to learn from and navigate my own success. So next time you hear someone say, profit first doesn't work, ask them, have you done it?