Profit First Method Articles

The 'Profit First' Method Part 2: Setting Up Your Bank Accounts

Profit First, developed by [Mike Michalowicz](https://mikemichalowicz.com/profit-first/), uses separate cash accounts to make profit, owner compensation, taxes and operating spending visible. Its behavioral idea is to reserve profit before expenses absorb the available money. Moving cash between accounts does not change accounting profit, create additional cash or eliminate obligations already owed.