Episode
Profit First by Mike Michalowicz | with guest Sabrina Chevannes
- Podcast
- Business Book Club
- Published
- Feb 23, 2026
- Duration seconds
- 1719
- Processing state
not_requested- Canonical source
- https://www.linkedin.com/in/sam-brown-572215181/
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Summary
If you are tired of looking at your bank account and wondering where all that top-line revenue went, this episode is for you. Mike Michalowicz built and sold multiple million-dollar companies before writing Profit First , a system now used by over 600,000 businesses to grow leaner and more profitable. Joining me to unpack these principles is Sabrina Chevannes , founder of the award-winning No BS Agency and the n0bs.com community for ambitious entrepreneurs. As an international chess master and competitive poker player, Sabrina knows strategy, risk, and how to win. Today, we discuss how to use human psychology to stop overspending, how to audit your business to find hidden cash bleeds, and the specific bank account structure Sabrina uses to guarantee a profit every single month. Key Takeaways & Timestamps 00:00 – Introducing Profit First and why top-line revenue is a vanity metric. 02:09 – The Formula Flip: Why changing your accounting from (Revenue - Expenses = Profit) to (Revenue - Profit = Expenses) changes everything. 05:26 – The Software Audit: How Sabrina saved tens of thousands of pounds by cutting "essential" subscriptions and zombie software. 08:42 – Parkinson's Law of Money: Why your business expenses will always expand to consume the exact amount of cash sitting in your operating account. 12:09 – The "Pocket" System: The exact 4-account bank structure (Profit, Tax, Owner's Pay, Opex) to protect your money from yourself. 15:09 – Building the Habit: Why you need to schedule your financial transfers on the 10th and 25th of the month as a non-negotiable meeting. 18:04 – The 1% Rule: Why starting with just 1% allocated to profit builds the psychological momentum you need to scale. 20:33 – The No BS Community: Sabrina explains why she built a community for foun…