Speaker (Mark Simpson) warns about seasonal revenue misperception — celebrating summer revenue then struggling in winter — and recommends the book 'Profit First' by Mike McCallowitz as a guide to set money aside and improve cash stability. The excerpt is an informal recommendation to listeners to check out the book and adopt a practice of allocating profit/reserves.
One of the things, and I've made this mistake myself, which is I see revenue coming in in the summer, and I'm like, ah, times are great. This is fantastic. And then in the winter, I'm like, banging my head, just, oh, God, what can we do to get more. More revenue? And after reading, there's a great book by Mike McCallowitz called Profit First, I now am very much like, put money aside, make sure I do this. And that's got rid of it to a degree. But I'm sure there's going to be a lot of people, and for everyone listening, go and check out that book, profit First. But.
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