Real Estate Guru, Book & Course Reviews & Discussions

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Matthew Cervoni
  • Accountant
  • Lexington, KY
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Looking for a good book to follow "The E-Myth"

Matthew Cervoni
  • Accountant
  • Lexington, KY
Posted Jul 8 2022, 12:50

I just finished "The E-Myth" and could relate to so many examples the book gave over this last year. My bookkeeping business helping real estate investors, agents, wholesalers, and contractors (shameless plug) is growing like wild fire and I want to make sure I'm working ON my business instead of IN it - easier said than done!

Anyways, I'd like to keep exploring the topic of successfully scaling and I've heard Brandon Turner talk about the book "Traction" by Gino Wickman - any thoughts?

Also, does anyone have any other recommendations? 

Lexington-Fayette, Kentucky

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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
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JD Martin
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied Jul 8 2022, 13:08

AntiFragile and How the Mighty Fall are two that I've read in the not too distant past that I thought were good.

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Chris Seveney#2 House Hacking Contributor
  • Investor
  • Northern Virginia
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Chris Seveney#2 House Hacking Contributor
  • Investor
  • Northern Virginia
Replied Jul 8 2022, 16:37

@Matthew Cervoni

Before even reading your post traction was already what I was going to recommend

Another great book is what got you hear won’t get you there.

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Matt Browning
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Matt Browning
Replied Jul 27 2022, 20:46

I’ve only read Profit First, but a lot of people love Mike Michalowick’s books! He’s a very funny read, but has some great takes on structuring for profitability. 

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Andrew C.
  • Investor
  • SE Wisconsin
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Andrew C.
  • Investor
  • SE Wisconsin
Replied Jul 27 2022, 21:18

oi. re: Profit First....  I am not a CPA, so you know...just my opinion. But the assertion that you need lots of accounts to separate and budget funds, like my grandparents used to do with cash and baby food jars, is ridiculous. The world has invented piles of software and tools to make budgeting and managing money that avoids that nonsense and the cash-flow management challenges of having a huge number of accounts. Secondly, everyone I've met who's enamored with ProfitFirst seems to miss the point that you can't just 'declare' an amount of profit and that's it - provided you want to actually pay your bills. Wishing doesn't make it so. The point of the book, if there is one, is that doing so may force you to spend less and that may increase your profit. Or, you could just budget and be disciplined about it.

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Matt Browning
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Matt Browning
Replied Jul 29 2022, 05:46
Quote from @Andrew C.:

oi. re: Profit First....  I am not a CPA, so you know...just my opinion. But the assertion that you need lots of accounts to separate and budget funds, like my grandparents used to do with cash and baby food jars, is ridiculous. The world has invented piles of software and tools to make budgeting and managing money that avoids that nonsense and the cash-flow management challenges of having a huge number of accounts. Secondly, everyone I've met who's enamored with ProfitFirst seems to miss the point that you can't just 'declare' an amount of profit and that's it - provided you want to actually pay your bills. Wishing doesn't make it so. The point of the book, if there is one, is that doing so may force you to spend less and that may increase your profit. Or, you could just budget and be disciplined about it.


 I don't think the book is really intended for small business owners who have a great feel for budgets and accounting. It's for business owners who kept a pulse on their business, and maybe even personal finances, by just checking the bank account. If there is money, let's spend it. If the account is low, we'd better stop spending. 

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Andrew C.
  • Investor
  • SE Wisconsin
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Andrew C.
  • Investor
  • SE Wisconsin
Replied Jul 29 2022, 07:22
Quote from @Matt Browning:
Quote from @Andrew C.:

oi. re: Profit First....  I am not a CPA, so you know...just my opinion. But the assertion that you need lots of accounts to separate and budget funds, like my grandparents used to do with cash and baby food jars, is ridiculous. The world has invented piles of software and tools to make budgeting and managing money that avoids that nonsense and the cash-flow management challenges of having a huge number of accounts. Secondly, everyone I've met who's enamored with ProfitFirst seems to miss the point that you can't just 'declare' an amount of profit and that's it - provided you want to actually pay your bills. Wishing doesn't make it so. The point of the book, if there is one, is that doing so may force you to spend less and that may increase your profit. Or, you could just budget and be disciplined about it.


 I don't think the book is really intended for small business owners who have a great feel for budgets and accounting. It's for business owners who kept a pulse on their business, and maybe even personal finances, by just checking the bank account. If there is money, let's spend it. If the account is low, we'd better stop spending. 


 seems like there's better methods than that. Even, say, a YNAB subscription.