Episode 138: Profit First With Mike Michalowicz

Mike is the author of Profit First, Surge, The Pumpkin Plan, and his newest release Clockwork. By his 35th birthday, Mike had founded and sold two companies – one to private equity and another to a Fortune 500. Today he is running his third multi-million dollar venture, Profit First Professionals.

Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Over the years, Mike has traveled the globe speaking with thousands of entrepreneurs, and is here to share the best of what he has learned.

 

Biggest Takeaway You Don’t Want To Miss

Here’s what everyone should do immediately, just these two simple steps. First, set up one savings account and call it “profit.” Step two, allocate 1% of your income into that profit account. The magic will start to happen because you’re literally taking your profit first. Start today, start slow and you’ll grow into the full system over time.

 

Show Highlights

  • Mike lost two million dollars in two years, what was that experience like? [3:20]
  • Why do most entrepreneurs struggle to ever make a profit? [7:15]
  • What is GAAP’s “Frankenstein Formula?”? [11:20]
  • What lessons did Mike learn from health and fitness experts? [13:50]
  • What are TAPs? Are they the starting point or end game? [18:30]
  • What numbers should business owners be looking at and doing, every quarter?[20:50]
  • What is Mike’s newest book, Clockwork, about? [22:20]

 

Special Offer

Get a free copy of Mike’s book “Surge” at https://www.mikemichalowicz.com/get-surge-free/

 

Links

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