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In this episode, Tara Bryan discusess the power of certification programs and how they can elevate your business. She breaks down what a certification program is, why it's a great way to scale your proprietary framework, and how to develop one that benefits both you and your customers. Tara shares real-world examples from industry leaders like Mike Michalowicz (Profit First) and Donald Miller (StoryBrand), who have successfully scaled their businesses using certification programs. Tune in to discover how you can turn your signature methodology into a scalable asset that extends your impact far beyond your immediate reach.Key Topics Discussed:What is a Certification Program?Definition and overview of certification programsHow they allow others to leverage your framework for their own businessesThe Value of a Signature Framework:How creating a signature methodology or framework is the foundation for any scalable certification programThe importance of intellectual property and packaging it for scalabilitySteps to Develop a Certification Program:Start by defining your core outcomes and skillsCreate a predictable success path (framework)Test your framework through a beta experienceBenefits of a Certification Program:Elevates your brand and expertiseAllows you to serve more clients without being the bottleneckProvides a scalable revenue sourceAction Steps:Start by developing your signature methodology or framework.Test your framework in a live environment to ensure it's delivering consistent results.Consider turning your framework into a certification program to scale your business and impact.Resources Mentioned:Profit First by Mike MichalowiczStoryBrand by Donald MillerWant to Learn More?If you're interested in exploring how to build your own certification program or need help developing your framework, schedule a call with Tara at https://taralbryan.com/step/15-learn-to-scale-call/.Mentioned in this episode:https://taralbryan.com/step/15-learn-to-scale-call
Rob Taylor is a growth and sales advisor and the founder of the Dads in Business community. Dads in Business is a supportive network of content, resources and community to help busy dads better manage themselves, their family and their business. Rob is also a husband and the father of four children. In our conversation today we discussed:* What to do when they don't teach Dad in school* Robs journey to create Dads in Business* The feeling of loneliness that Rob experienced after becoming a Dad for the first time* How to fight off the “Should Gremlins”* Where Dads can learn about fatherhood with such limited resources* Some of the most impactful conversations he's had on Dads in Business* Balance and boundaries—Where to find Rob Taylor* LinkedIn: https://www.linkedin.com/in/robtaylorofficial/* YouTube: https://www.youtube.com/@dadsinbusinessWhere to find Adam Fishman* FishmanAF Newsletter: www.FishmanAFNewsletter.com* LinkedIn: https://www.linkedin.com/in/adamjfishman/* Instagram: https://www.instagram.com/startupdadpod/—In this episode, we cover:[1:46] Welcome[2:16] Dads In Business[13:07] Example of oldest son's questions[14:03] Rob's wife & four kids[17:50] Decision to start a family[19:48] “Should” gremlins[22:48] Combatting “should” gremlins[25:45] Earliest memory of becoming a dad[27:04] What does “teaching dad” mean to you?[33:39] Most surprising thing about becoming a dad?[35:54] Dads in Business most impactful moments[39:57] Memorable story of DIB impact[42:45] How has Rob's parenting style evolved[45:54] Mistake as a dad?[46:57] What's next?[49:05] Follow along[50:11] Lightning round[56:36] Thank you—Show references:Dads In Business LI: https://www.linkedin.com/company/dads-in-business/Dads In Business Podcast: https://www.youtube.com/channel/UC3NsyHEWffBfu5gNpU2x-OwDads In Business TikTok: https://www.tiktok.com/@dadsinbusinessDads In Business Website: dadsinbusiness.co.ukBook Of Dad: https://dadsinbusiness.co.uk/the-book-of-dad/Deck Of Dad: https://dadsinbusiness.co.uk/dad-deck/WWE: https://www.wwe.com/Undercover Billionaire: https://www.discovery.com/shows/undercover-billionaireCereal Dad Preneur: Put Your Family First While You Build An Empire And Create Wealth by Matt Smith: https://www.amazon.com/Cereal-Dad-Preneur-Family-Empire-ebook/dp/B08GRXW2QBGrant Cardone: https://grantcardone.com/Mike Michalowicz Profit First: https://mikemichalowicz.com/profit-first/Dads in Business Podcast - Sleep Fitness: Transforming Men's Health Performance: youtube.com/watch?v=nRDh4Nn3pw4Inside Out: https://www.imdb.com/title/tt2096673/Die Hard: https://www.imdb.com/title/tt0095016/?ref_=fn_al_tt_1—For sponsorship inquiries email: podcast@fishmana.com.For Startup Dad Merch: www.startupdadshop.com Production support for Startup Dad is provided by Tommy Harron at http://www.armaziproductions.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit startupdadpod.substack.com
Mike Michalowicz (Profit First) is a best selling author, speaker, and business guru who helped me make my business more profitable. Ron Saharyan keeps finding out he has siblings he's never met. It's a fun convo.
Are you drowning in administrative tasks in your private practice? Do you feel like there's never enough time to focus on what you love most? Then you have to tune into this episode to discover my top three time-saving systems for therapists and learn how to implement these strategies to reclaim your time and boost your practice's efficiency.Join me as I dive into the game-changing strategies that can streamline your financial management, client payments, digital marketing, therapy notes, and more. You'll learn how to implement the Profit First system to manage your finances efficiently, why collecting payments upfront is crucial, and how to create a digital marketing plan that actually works for YOU. Plus, I'll share my secret to staying on top of case notes without feeling overwhelmed. Don't miss out on these essential tips that will free up your time and allow you to focus on what truly matters - your clients and your passion for therapy. Let's transform your private practice together!Topics covered in this episode:Implementing the Profit First system for efficient financial managementThe secrets to creating a digital marketing routine that feels less like a chore and more like a charmCreating a schedule for your financial and marketing tasksMy personal strategy for staying on top of therapy notes and AI tools that might just make note-taking a breezeConnect with Felicia:Get my freebie & join the email list: The Magic SheetsInstagram: @the_bad_therapistWebsite: www.thebadtherapist.coachFacebook group: Healing MoneyResources from this episode:Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz Profit First for Therapists: A Simple Framework for Financial Freedom by Julie HerresSurferUphealSimplePracticeTherapyNotesRelated episodes:Profit First for Therapists: How to Grow Your Wealth [Ep 59]Quote:"The whole point of having a private practice is that you can make it into the practice you want it to be." -
Home Service Business Coach helps busy Home Service Business Owners get off the truck and build their business to fit their ideal dream lifestyle. We do this with the creation and implementation of simple systems. The result of the program is more freedom, income, & time for the Business Owner. To learn more on how this can benefit you and your business, head on over to www.homeservicebusinesscoach.comFree Resources For You:Join our FREE Home Service Business Coach Community!Free Trial and 20% OFF with JobberBook Your Free Call With Our TeamFollow Us On InstagramYoutube ChannelEmail Our Team : info@homeservicebusinesscoach.com
Home Service Business Coach helps busy Home Service Business Owners get off the truck and build their business to fit their ideal dream lifestyle. We do this with the creation and implementation of simple systems. The result of the program is more freedom, income, & time for the Business Owner. To learn more on how this can benefit you and your business, head on over to www.homeservicebusinesscoach.com
Each year, roughly four million books are published. Four million. Considering that staggering number, how can an author hope to make it—make a living, make their mark, make a difference? First and foremost, by avoiding the “better business card” and other shortcut approaches to writing and publishing a book. In their podcast, Don't Write That Book, writing partners Mike Michalowicz (Profit First, Clockwork, The Pumpkin Plan, and more) and AJ Harper (Write a Must-Read) offer a rare behind-the-scenes look into what it really takes to write a must-read book—and sell the heck out of it. Building on their decades of experience in publishing, Mike and AJ share frank conversations and deep dives about every aspect of authorship in the hopes of inspiring you to write a better book—the book you were called to write.Subscribe now and listen now on Apple Podcasts, Google Podcasts, Audible, Spotify, or Pandora.
Mike Michalowicz had founded and sold two multi-million dollar companies by his 35th birthday and was confident that he had it made. After he became a small business angel investor, he lost his entire fortune due to a series of bad business decisions. Mike decided to start over, find a way to grow healthy and strong businesses, and eliminate entrepreneurial poverty. In this episode, Mike will break down his Profit First framework. He will also give the rundown on how to create and manage a profitable business. Mike Michalowicz is the entrepreneur behind three multimillion-dollar companies and is an author of business books for entrepreneurs and small business owners like Profit First, Clockwork, The Pumpkin Plan, Fix This Next, and Get Different. Mike is a former small business columnist for The Wall Street Journal and regularly travels the globe as an entrepreneurial advocate. He became a business author with a clear mission: Eradicate entrepreneurial poverty. In this episode, Hala and Mike will discuss: - Why profits should come first - The Profit First Formula - How Parkinson's Law applies to profiting - Why you should split your money into small chunks - Target Allocation Percentages (TAP) - The way to handle business debt - Why constrained spending brings natural innovation - Why all revenue is not the same - The most effective marketing strategy for small businesses - And other topics… Mike Michalowicz is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and business makeover specialist on MSNBC. Mike is a popular main-stage keynote speaker on innovative entrepreneurial topics; and is the author of Get Different, Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan, and The Toilet Paper Entrepreneur. Fabled author Simon Sinek deemed Mike Michalowicz “…the top contender for the patron saint of entrepreneurs.” Resources Mentioned: Mike's Website: https://mikemichalowicz.com/ Mike's LinkedIn: https://www.linkedin.com/in/mikemichalowicz/ Mike's Twitter: https://twitter.com/MikeMichalowicz?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor Mike's Instagram: https://www.instagram.com/mikemichalowicz/?hl=en Mike's Facebook: https://www.facebook.com/MikeMichalowiczFanPage Mike's Podcast The Entrepreneurship Elevated Podcast: https://mikemichalowicz.com/podcast/ Mike's Blog: https://mikemichalowicz.com/blog/ Mike's Book Profit First: https://mikemichalowicz.com/profit-first/ Profit First Instant Assessment: https://s3.amazonaws.com/ProfitFirst/PF-InstantAssessment.pdf LinkedIn Secrets Masterclass, Have Job Security For Life: Use code ‘masterclass' for 25% off at yapmedia.io/course. Sponsored By: Shopify - Sign up for a $1 per month trial period at shopify.com/profiting More About Young and Profiting Download Transcripts - youngandprofiting.com Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Episode Title: Exploring What It Means To Become A LifeonaireEpisode summary: Jason has endured a lot to get where he is today. He became injured after a motorcycle accident in his 20s. He suffered from a dislocated hip bad enough to cut off blood to the bones and cracked some of his vertebrates. His doctor told him that with his hip being this damaged, he's going to need a fusion, which may lead to multiple hip replacements due to his age. & if he was lucky enough not to need the hip replacement, he'll suffer with arthritis and have to take medications for the rest of his life. This accident lead to one of the biggest lessons in Jason's life. He learned to never listen to anyone tell you what you can or cannot do. Jason was persistent and did his own thing to help control his mind and tell his body what to do. But these lessons taught Jason that he not only does have control over his body, but he can accomplish anything he puts his mind to. And you can too. Guest Name & Bio: Jason is the CEO of Lifeonaire. Lifeonaire's mission (going on 15 years now) is to help people create lives and businesses they love, so it feels like this would be a great match for your show. Jason speaks all over the country sharing and empowering others, and hosts our own Lifeonaire Show podcast which has had guests like Mike Michalowicz (Profit First), Bob Burg (Go-Giver), Frank McKinney, Mindy Jensen and Scott Trench (BiggerPockets) and many others on.Contact Info: Facebook: https://www.facebook.com/jasonwojoLinkedIn: https://www.linkedin.com/company/lifeonaire/Instagram: https://www.instagram.com/therealjasonwojo/Website: https://lifeonaire.com/Thank you for listening!Please subscribe on iTunes and give us a 5-Star review! https://podcasts.apple.com/us/podcast/the-mindset-and-self-mastery-show/id1604262089Listen to other episodes here: www.TheMindsetAndSelfMasteryShow.comLearn more about your host: www.NickMcGowan.comWatch Clips and highlights: www.youtube.com/channel/UCk1tCM7KTe3hrq_-UAa6GHAGuest Inquiries right here: www.TheMindsetAndSelfMasteryShow.comShare your thoughts here: nick@nickmcgowan.com- Your Friends at “The Mindset & Self-Mastery Show”
AJ Harper is an editor and publishing strategist who helps authors write foundational books that enable them to build readership, grow their brand and make a significant impact on the world. AJ is a writing partner to business author, Mike Michalowicz. Together they've written six books, including Profit First, The Pumpkin Plan, Clockwork, and their latest, Fix This Next. Through her Top Three Book Workshops and Retreats, AJ empowers authors with insider publishing knowledge and guides them through the book development, writing, and editing process. Along with Mike Michalowicz (Profit First) and book launch expert, Amber Vilhauer, AJ is the co-founder of AuthorUpLive, a one-of-a-kind book launch workshop. As a ghostwriter and developmental editor, AJ has worked with newbies to New York Times bestselling authors with millions of books sold. Her author's books have received national and international recognition, including multiple awards each year, starred reviews from Publishers Weekly and Booklist, and inclusion in “Best of” lists in Publishers Weekly and Kirkus Reviews. AJ is the Head Writing Coach for Heroic Public Speaking, the premier public speaking training program founded by Michael and Amy Port, and developed their online speech development curriculum. She is part of the coaching team for TEDx Cambridge, one of the longest-running and largest independently organized TED events in the world. AJ lives with her wife and son in New York's Lower Hudson Valley.Here's a glimpse of what you'll learn:AJ Harper's formative Gen X years in librariesHow her son inspired her to turn away from theater into freelance writingThe particular skill set that a good ghostwriter needsWhy fast publishing is a discredit to authorsWhy a learning disability won't stand in the way of someone writing a good bookThe different editors at each stage of the editing process and what they doWhy a good nonfiction book really needs to consider the reader and what they needHow to tell a really good book recommendation from a perfunctory oneWhat trade review publications to trustAJ's seventeen-item checklist that walks you through up-leveling your manuscriptAll the books AJ would recommend in a specific situation and whyIn this episode…AJ Harper is a current editor and publishing strategist who teaches workshops to help authors write transformational books and is the head writing coach for Heroic Public Speaking. AJ understands writing and books so the title of this episode, Write Better Books, is exactly on point and she leaves Martin and listeners with a lot to ponder.Inspired to write by the character of Jo March in Louisa May Alcott's “Little Women”, AJ eventually went freelance in the world of ghostwriting where she says her theater background helped her find author's voices. What she also learned about the nonfiction genre is that people want to be moved to make a change. To that end, she considers a book's promise to a reader as a sacred contract. In this episode of What CEOs Talk About, host Martin Hunter receives amazing writing encouragement from guest AJ Harper. AJ assures Martin that his dyslexia would not prevent him from writing a great book and explains the various editors and what they give to a book's journey to print. AJ advises on how to find connection with your reader, why editors are there to discuss your motivations with you, and what book recommendations to trust. Dive into this episode and prepare to be inspired.Resources mentioned in this episode:URGEOContact email: info@urgeo.comMartin Hunter on LinkedInAJ Harper websiteAJ Harper LinkedIn‘Write A Must Read' by AJ HarperMichael PortTim Ferriss booksRyan Holiday booksSimon Sinek books‘Love Medicine' by Louise Erdrich‘Intuitive Editing' by Tiffany Yates Martin‘Illusions' by Richard Bach‘The War of Art' by Steven PressfieldSponsor for this podcast...This podcast is brought to you by URGEO.URGEO is the Latin for urge: A strong desire to drive change, stimulate thought, incite feeling, and encourage action. Martin Hunter and his team provide liberation for the CEO and Board of a company through their fractional COO services.URGEO's fractional COO services help to move you through growing pains so that your company can flourish and improve its profits.They have worked with a multitude of companies in SaaS, CPG, mining, and transportation, from start-ups to large multinational corporations. They specialize in helping companies avoid roadblocks and stay on the right strategic and operational track for growth.If you are a visionary and want an integrator to get everything done for you, then you need toget in touch with URGEO today.To learn more about their services, visit https://www.URGEO.com or email them directly at info@urgeo.com
Penelope Jane Smith is the premier financial freedom coach for women entrepreneurs and the go-to expert for some of the biggest names in the conscious business industry. She is an acclaimed international speaker and certified trainer with over 20 years of teaching experience, and the author of the Little Book of Prosperity. Through her signature programs, like Financial Freedom 101, she has helped thousands of entrepreneurs from all over the world to create more ease, peace and freedom around money. In this episode you will learn about how: What financial freedom means to her Biggest business mistake was now knowing how to manage cash flow How she supports people to be financially independent How to buy assets that will give you direct income or grow over time How to made $52,000 in her first 2-day event Why passive income is important How to generate passive income and why it takes years to grow What are some of the hot industries that she sees women getting into Creating systems for your business (SYSTEMS = Save yourself time, energy and money.) What it means to be a wild woman. What it means to be a wild woman: Living life on your own terms and not conforming to traditional ideas of how women should be, dress, talk or act. Mentions: Fix This Next by Mike Michalowicz Profit First by Mike Michalowicz Run like Clockwork by Mike Michalowicz ------------- Got a minute? Would love a review! Click here, scroll to the bottom, tap, and give me 5-stars. Then select "Write a Review." Make sure to highlight your favorite bits. Subscribe to level up your business Subscribe here. ------------- Connect with Penelope Jane Smith @PenelopeJaneSmith Real Prosperity Inc Connect with Renée Warren @renee_warren @we.wild.women www.wewildwomen.com
Aimee is one of the most candid interviews I have done yet. When I saw her impressive resume I will admit to feeling a little intimidated. Then she came on and the first question she asked was "how is my hair? We've been travelling and I was worried I wouldn't be here on time.." and laughed. I laughed with her, relieved - and we then proceeded to meet as women, as mothers, as business owners -- and shared space, ideas and stories, candidly. I am so excited to share this interview with you. Aimee has some incredible financial nuggets for any woman, but especially the entrepreneur. ** “I believe there are three basic fundamental tenets in life. You are enough, you are loved and you are worthy.” - Aimee LaLiberte “We are always worthy and if we can just love ourselves unconditionally, regardless of what the results in the business are, those are completely separate. That is an invitation for anyone to become the next version of themselves.” - Aimee LaLiberte “The bottom line on your income statement, the amount of money that is in your bank account, that has nothing to do with you as your worth, as a human being. That is just your birthright. You are worthy, you are always worthy. The number is neutral, your thoughts around it are what creates everything else.” - Aimee LaLiberte Connect with Aimee LaLiberte: https://www.myvirtualcfo.co/ https://www.facebook.com/myvirtualcfo https://www.linkedin.com/in/alaliberte/ https://www.instagram.com/myvirtualcfo/ Book: **As an Amazon Associate I earn from qualifying purchases** Mike Michalowicz - Profit First https://amzn.to/3nsEhTd Mike Michalowicz - Profit First (Kindle) https://amzn.to/3nCmtFD ** “20 years ago I survived a sexual assault from my boyfriend. 13 years ago I decided not to kill myself. 10 years ago I was left with 350 k worth of bad debt. 8 years ago I went into consumer proposal to fix that. 6 years ago I welcomed my beautiful daughter into the world. 4 years ago I left my marriage to fall in love with myself. 2 years ago I allowed myself to heal and reconnect with my feminine; AND rebuilt my life as I moved into my own tiny home and found my lifetime love. This year, I started my podcast and welcomed my second baby earth side." Candice is a self proclaimed master manifestor and personal development junkie who loves to engage in interesting conversations with other influencers and entrepreneurs. Her favourite conversations are the ones that take courage to engage in. (Check out her podcast, Create the Ripple Podcast wherever you stream your podcasts for more of that!) She spends her time living - in a tiny home (250 sq ft), traveling with her daughter - speaking - on her podcast and on stages, and sharing candidly with other women how to find love after betrayal, to trust themselves, to speak up for themselves and set powerful boundaries. After a narcissistic and abusive romantic partner cheated on her with multiple women and left her (and the country) with significant unexpected bad debt and ruined credit, Candice was forced to rebuild her life, her credit and her trust in herself. Over the next few years Candice navigated the challenging world of foreclosure court, filing for financial proposals and divorce. During these times she adopted a minimalist lifestyle, leaned on her personal network and practiced radical personal forgiveness, acceptance and responsibility. The journey was not without its impact and Candice shares powerfully about dealing with anxiety, depression, shame and learning to let go. Now debt free, financially stable and in a safe committed relationship, Candice loves her minimalist lifestyle for the beauty and freedom it offers her. She knows the power of a good thrift store shop and loves her wardrobe! She has learned the power of saying no, listening to your own heart and speaks openly about subtle abuse as it occurs in relationships. She's become a voice for listening to your own truth and speaking it powerfully. She knows how to save money, make money online and in creative ways to balance the books as a single mom and yet live your biggest and best life. Candice can never resist the urge to take off her boots to walk barefoot into a clear mountain lake or stream. When she is not connecting or writing, she can be found disappearing into the backcountry trails of Canada with her life-love Mark and losing herself exploring waterfalls and mountain trails. She is a quiet introvert who adores eating clean foods and reading a great book. Curious to know more? https://linktr.ee/CandiceSmiley Modere.com or Modere.ca: 5579027 BIOCELL LIFE SAVE $10.00 CODE: https://www.modere.ca/ProductDetail/liquidbiocell-life-ca/?referralCode=5579027 DISCLOSURE: I USE MY WEBSITE, MAGAZINE AND SOCIAL MEDIA PLATFORMS TO CREATE THE INCOME THAT SUPPORTS MY LIFESTYLE. WHEN YOU FOLLOW ME POSTS/ARTICLES/PAGES/ESSAYS MAY CONTAIN AFFILIATE LINKS, MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. PLEASE READ MY DISCLOSURE FOR MORE INFO Musique credit Tiffany Sparrow and Chinmaya Dunster www.tiffanysparrow.com www.sparrowharmonix.com/#music Special thank you to Angel Carrola Hennig for making this podcast happen @faithinsmallhands @angelcarrolahennig
On this podcast episode, Mike Michalowicz and I discuss the profit first formula for real estate investing. We also talk about Mike's new book "Get Different" and how you can apply the marketing strategies to increase your income in your business. Check it out! Timeline: 0:00 Prelude 0:30 Introduction 1:24 About Mike Michalowicz 5:10 What obstacles will entrepreneurs face when paying themselves first? 9:03 Step by step process to profiting first 12:27 What's “Get Different” about? 15:11 How do you feel about pattern interrupts? 17:25 How to get a copy of Get Different? 18:54 What's your favorite type of pizza? 19:38 How to contact Mike Michalowicz? 20:06 Last words from Mike 20:25 Closing comments
On this podcast episode, Mike Michalowicz and I discuss the profit first formula for real estate investing. We also talk about Mike's new book "Get Different" and how you can apply the marketing strategies to increase your income in your business. Check it out! Timeline: 0:00 Prelude 0:30 Introduction 1:24 About Mike Michalowicz 5:10 What obstacles will entrepreneurs face when paying themselves first? 9:03 Step by step process to profiting first 12:27 What's “Get Different” about? 15:11 How do you feel about pattern interrupts? 17:25 How to get a copy of Get Different? 18:54 What's your favorite type of pizza? 19:38 How to contact Mike Michalowicz? 20:06 Last words from Mike 20:25 Closing comments
What if you could guarantee that growth in your business would last? Mike Michalowicz has developed a strategy to do just that over the course of his time selling two multi-million dollar businesses and now leading two new multi-million dollar ventures. He is sharing his genesis story, his losses on the way to success, the business hierarchy of needs from his best-selling book Fix This Next, and the Profit First Methodology showing where sales and profit come into play in your business. Mike is a former small business columnist for The Wall Street Journal and business makeover specialist on MSNBC. Mike is a popular main stage keynote speaker on innovative entrepreneurial topics; and is the author of Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur. Get your copy of Mike’s book Fix This Next from our sponsor, Direct Clicks, Inc. here: https://www.directclicksinc.com/club-capital-michalowicz (https://www.directclicksinc.com/club-capital-michalowicz)
Before you can judge Patrick for his inability to explain Profit First, it's a better idea to ask the author. Mike Michalowicz gets his formal introduction to the pest control industry in this extended interview. Hear how Mike leverages human nature to establish predictable profit. Sales - Expenses = Profit. True, but Mike creates a cash management tool by flipping the traditional GAAP formula. Pre-Profit First, Mike struck it rich in his early 30's. As a new angel investor with a nice ride, Mike hit rock bottom in more ways than one. With raw emotions, he recalls the events that inspired his best seller. Writing became therapeutic as he began his 'journey to eradicate entrepreneurial poverty'. Revisiting his experience with depression, Mike recommends mental therapy. He even gives a poor man's version to help recover. Don't sit-back while Mike preaches on plowback pain and pleasure. Is there a better segue than hearing Mike advocating on profitability before selling? Paul counters by asking about ROI. What if your own business is the best vehicle to put capital to highest and best use? Hear how Profit First-adopted companies compare to the control. Windup the clock. Paul pulls another Michalowicz book, Clockwork, off the shelf for the session's 1st OT. Swooping in and saving the day as a superhero manager leaves a wake of damage. What can an owner taking a four-week vacation do for the business? Do you find yourself carrying the burden to provide jobs as an entrepreneur? By working in the business, are you taking jobs from your employees? The prolific author is releasing another book this year, Get Different. He gives an example of unique marketing as opposed to getting lost in the sea of industry best practices. Does Dad approve? Paul inquires about Mike's habits to produce these books. Mike goes onto share income generated from writing and distribution breakdown. Mike gives input on mainstream publishers vs self-publishing vs hybrid options. Is that Dad whispering in your ear, or Mike narrating another book for Audible? Dylan joins Paul and Patrick to recap the dynamic interview. The lines get blurred between private life and business life. Paul retells stories of those that have cashed out but hold onto regrets. Dylan opens up about his similar struggle with depression. He shares his success habits and the personal growth he's found through journaling. Dylan explores the subconscious mind, and how he utilized consistent habits as opposed to willpower. Co-Produced, Edited, and Mixed by Dylan Seals of hdaudiopost.com
One of the reasons why most businesses are struggling is that they don’t have a business model that can achieve the revenue that is necessary to pay for the things they are desiring. In today's Better Wealth Episode, I had the pleasure of interviewing Amber Dugger, founder of Profit For Keeps. Listen as she discusses her journey from corporate America to becoming a health coach to becoming a globally known finance coach. Amber and I dive into several different topics, ideas, and favorites. I ask Amber to share with us several efficiency hacks for obtaining greater cash flow, and she lists her 5 key principles for a profitable and sustainable business (Revenue Goal, Revenue Forecast, Personal Spending Plan, Plan to Achieve, and Develop Aged Money). Listen as she defines better wealth, she shares with me her top 4 books and I also spring on Amber a health question which she shares her special health tip that has changed her life. #BETTERWEALTH Guest Bio: Amber Dugger is the founder of Profit For Keeps, a system developed for online entrepreneurs to end the stress and anxiety around numbers. It is a holistic system combining personal finance and business cash flow strategies using Profit First and YNAB (You Need a Budget). She has helped hundreds of coaches implement this system and has helped thousands more calculate revenue goals that actually make sense! She is a certified health coach from IIN and worked in corporate finance for 15 years before venturing out on her own in 2015 and thrives on being location independent. She loves traveling, wine, bicycles, knitting, and a good cup of tea (if in England) and coffee (if in Italy). Sweet Life, Purposeful Money is a high vibe community of virtual service-based entrepreneurs seeking a group to up-level their money game. Join in the fun here! (http://www.amberdugger.com/community) Website - (http://amberdugger.com/) Amber's Social Media - Facebook Group Sweet Life, Purposeful Money (https://quaxel2.net/v1/t/c/b1ad1e65-0dab-76e2-8458-b2e4f5fa2d4c/gm%3Af485e6b4-f02c-48ea-b437-4e71556434a7/mariah%40betterwealth.com/?https%3A%2F%2Fwww.amberdugger.com%2Fcommunity=) -Instagram - (https://quaxel2.net/v1/t/c/b1ad1e65-0dab-76e2-8458-b2e4f5fa2d4c/gm%3Af485e6b4-f02c-48ea-b437-4e71556434a7/mariah%40betterwealth.com/?https%3A%2F%2Fwww.instagram.com%2Fprofit.with.amber=) -Facebook Page -https://www.facebook.com/profitwithamber/ (https://quaxel2.net/v1/t/c/b1ad1e65-0dab-76e2-8458-b2e4f5fa2d4c/gm%3Af485e6b4-f02c-48ea-b437-4e71556434a7/mariah%40betterwealth.com/?https%3A%2F%2Fwww.facebook.com%2Fprofitwithamber=) Freebies for listeners - Free profitability and revenue calculator: (https://quaxel2.net/v1/t/c/b1ad1e65-0dab-76e2-8458-b2e4f5fa2d4c/gm%3Af485e6b4-f02c-48ea-b437-4e71556434a7/mariah%40betterwealth.com/?https%3A%2F%2Famberdugger.com%2Fcalculator=) Amber’s Favorite Books: Psycho-Cybernetics by Maxwell Maltz (https://www.psycho-cybernetics.com/) The Big Leap by Gay Hendricks (https://www.goodreads.com/book/show/6391876-the-big-leap) The Soul of Money by Lynne Twist (https://soulofmoney.org/) Tapping Into Wealth by Margaret M. Lynch (https://tappingintowealth.com/book/) Mike Michalowicz - Profit First (https://mikemichalowicz.com/profit-first/) The best ways BetterWealth can serve you: Visit our Website - (https://betterwealth.com/) Take our Free Self Assessment & Schedule a Free Guided Assessment Check out BetterWealth University Get a Free Book “The AND Asset” (https://order.andasset.com/book) Work with us directly Contact Us - (mailto:info@betterwealth.com) Review, Subscribe and Share If you like what you hear please leave a review by clicking here (https://itunes.apple.com/us/podcast/better-wealth-with-caleb-guilliams/id1406521737?mt=2) Make sure you’re subscribed to the podcast so you get the latest episodes. Subscribe with Apple Podcasts...
In this episode, self-made millionaire Mike Michalowicz shares six books that he wrote designed to help the everyday entrepreneur avoid the most common pitfalls and experience massive success in their business. For a full list of recommended books, check this out: https://ebooksurvivalkit.com▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬❓ WHO IS IT?...
In this episode, Jim Oliver and Mike Michalowicz discuss: How losing everything Mike had was the impetus that made him begin researching what makes entrepreneurs successful. How to avoid the trap that business owners face of living crisis to crisis. Mike’s latest book, Fix This Next, and other resources that he provides for entrepreneurs. Key Takeaways: Profit First is the pay yourself first principle applied to business. Don't do the work - delegate the work. The biggest challenge a business owner has is knowing what their biggest challenge is. “I'm not saying entrepreneurship isn't hard work, but it is successful when you do smart work.” - Mike Michalowicz About Mike Michalowicz: Mike Michalowicz is the entrepreneur behind three multimillion-dollar companies and is the author of Profit First, Clockwork, The Pumpkin Plan, and his newest book, Fix This Next. Mike is a former small business columnist for The Wall Street Journal and regularly travels the globe as an entrepreneurial advocate. Book References: Fix This Next by Mike Michalowicz Profit First by Mike Michalowicz Connect with Mike Michalowicz: Instagram: Mike Michalowicz Facebook: Mike Michalowicz Website: Fix This Next & MikeMichaolwicz.com Connect with Jim Oliver: Facebook: CreateTailwind & Jim Oliver Website: CreateTailwind.com YouTube: Create Tailwind LinkedIn: Jim Oliver
092: How to Start Profit First with No Profit with Michele Williams On the podcast today, we are going to tackle excuses that I hear sometimes. "I cannot do Profit First because I don't have enough profit. I'll get to that later when I am profitable." What if I told you that not doing PF before having profit could be the problem. Listen in today to learn how to save your profit before you have any. Ok, Let's just get this out on the table early. I am a certified Profit First coach and have been since 2015. This method of managing your money works. I also have facilitated the Financial Peace education from Dave Ramsey. I serve creatives – like you – and my focus is to help you create and maintain profit in your company so that you can have a sustainable business. Let's talk about how to create a profit first strategy even if you don't yet have a penny of profit. Topics Mentioned: •Working within constraints •Profitability mindset and habits •Building the business for the future •Strategic debt Define Profit To begin, let's define profit. Profit is the money that we set aside with intention, to make our businesses sustainable. This might be a slightly different definition from what you have learned in the past. Maybe you heard something along these lines: profit is what is left over after all the bills have been paid. But this definition is inherently flawed. If we wait until all spending is done to recognize profit – then we are considering profit an afterthought to doing business. Yet, we all go into business with some idea of making a profit. If that is the case, why would we not plan for profit from the beginning and set it aside to protect it as the business is growing? Have you ever heard of Parkinson's Law? This is the law that says work expands to fill the space available for completion. Money does the same. In simple terms, the more money we make the more we spend. In the discussion of time – let's say you have two weeks to get something done. In most cases, you will complete the work right before it is due. If you had two days, the same would hold true. If there are limits to our resources, we normally adapt and work within those constraints. By not limiting our expenses and letting profit be a left-over – we are setting ourselves up for disappointment. Because expenses tend to expand if not seriously controlled to gobble up any and all profits we have. Shiny objects – anyone? So, going forward, we will consider profit as a percentage of our Real Revenue (or gross profit) that we want to preserve for our company's sustainability. Keep in mind, as we discuss profit in a PF model, we are not talking net profit on your Income Statement. We are looking at company profit as separate from any owner's benefit, including salary and owner's draws. This profit is company sustainability. We will distribute it at given times, but it is meant to support the company, not just the owner. Have a Profit Mindset It is important to focus on profitability from the start. While our company's profit may not be as high as we want it to be when we begin, we do need to start with the mindset that it is important, will be made and saved. I love what Dave Ramsey says, "We have to love saving more than spending." Zig Ziglar put it like this, "If you do the things you need to do when you need to do them, then someday you can do the things you want to do when you want to do them." Our mindset controls all that we do. I am not talking Pollyanna thinking, but seriously taking our thoughts captive and asking hard questions. Are these thoughts truthful? Am I setting myself up for success or failure, depending on my thoughts? Our actions stem from our belief systems – and they are not always in alignment with what we say we want. Making a clear decision to make and save profit in a company is a huge first step. Then following through with action is what will ultimately create the success we are working for. What do you believe about profits? What do you think you should do with profits? How much do you think is enough? All of your answers are guiding your decision making, even if you are not consciously aware of it. Even before you earn your first dollar, you can decide what you believe about money. Money is not good or bad. It is amoral. What we choose to do with money is where morality comes into play. I can tell you this. I cannot give away money I don't have. I cannot invest money I don't have. I cannot leave a legacy I don't have. Decide early on to be profitable and to do what it takes in your business to make that happen. This may mean growing quickly or slowly. It may mean hiring or firing. It just means you have to be willing to take a long hard look and be intentional in your choices. Even when you are profitable at the level you desire; you are still working on your profitability mindset. Decisions come into play with efficiencies and competitors' advantages, which can reduce our profitability even if we change nothing. This work is never done. Start early and keep reviewing your mindsets around money and profits. Create Profit Habits From the Beginning Habits are so much easier to create with small amounts of something than when you have a windfall. Want to start a new 401k habit? It is easier to put in 3 or 6% than 15%. But if you choose to start with 3-6%, you can gradually increase to 15% or more without the shock. Starting profit saving behaviors when you begin your business is the same thing. Set up a framework of decision making and activity that allows for your current and future success. How do we do that? I have my clients that are either new in their business or just starting to begin by allocating 1% of their Gross Profit each allocation period to company profit. Just 1%. Small amounts add up quickly. When we can do 1%, we try to stretch to 2% and so on. Just getting into the habit of moving money into the profit bank account at 1% works that profit saving muscle in our business. The more we do it, the stronger we get. The more excited we get – and we begin looking for ways to build up more and more profit while exceeding the product and service offerings. Even when we have debt to pay off, we use the profit account as a pass-through. This shows us clearly what could be profit if the payments were made to us instead of to debt reduction. And we are already in the habit of saving for profit when the debt goes away. If we pay off debt without seeing it as spending our profit, then we can easily assume we never had that money and allow future expenses to eat it up. Going into a profit account then out to pay debt is clear, and a very direct correlation is made about what our money is being spent on. Measure What Matters You have probably heard it said that you get what you inspect, not what you expect. Make a plan to measure what matters – and profit matters. Dave Ramsey says, "You will either learn to manage money, or the lack of it will always manage you." There are two ways I love to manage money. The first is by creating a budget for my company. A created plan in advance of how my money will be spent to attain the goals I have set forth. Then I love each month to measure to that budget to see if I am on track to meet my goals. John Maxwell said, "A budget is simply telling your money where to go instead of wondering where it went." Here is a good indicator that you don't know where your money went. Look at your P and L and see the net profit at the bottom. Recognize that money is not in your bank account or on your balance sheet and wonder where it is. That is an indicator that something is not being measured accurately. Again, starting with smaller amounts of money and being clear on what it is allocated for and how it will be spent will help you stay in line – and in alignment with your values and goals – as sales increase and more money comes in to be managed. Decide About Debt Make a decision before you begin with regard to debt. Is this something you want to have in your company? How much is too much? What will you allow debt to be created for – and what is an immediate no? How will debt be managed? It is easy, in our environment today, to take on more debt than we need to. We are offered loans and credit cards in the mail on a consistent basis, and these can easily be alluring if we have a dream but no current funds to make it a reality. Debt can work, but it has to be extremely strategic. Otherwise, it is a set of weights on our shoulders that keep us from moving forward. Debt can keep us from being able to react swiftly or nimbly. And remember this – it has to be paid back. It is not free money. Mike Michalowicz says this, "well-dressed poverty is still poverty." We must decide to consistently spend less than we make to stay out of debt. Our company needs to be able to live within its means. Otherwise, debt will be our burden and will control our ability to grow with peace and ease going forward. To be truthful, implementing a money management strategy like Profit First is more about what you believe, followed by action to show those beliefs. Any new system or strategy can be difficult. But when thought about in advance and decision making is done prior to being in the heat of the moment, your way forward will be most clear. I have built a business and worked hours upon hours to make no money. It is a terrible feeling. I have also planned for profit from the start and been much less stressed. And I like this way better. No matter where you are right now – with an idea for a business or 30+ years in, you can move forward. If you are making tons of profit and don't know what to do with it – call me. If you know that there can be a better way – call me. I am telling you – It is never too early or too late to do business better! Start now. Don't wait. Decide today to manage your money, so the lack of it doesn't manage you. I am happy to assist. Because what seems simple is not always easy. Go to ScarletThreadConsulting.Com and sign up for a discovery call and let's see how we can move your business forward to be as profitable as possible. I will end this podcast like I have every other one before with a reminder that profit doesn't happen by accident. Key Thoughts: Create a business that is profitable and to plan for that from the very beginning, set some aside to protect it as the business is growing. - Michele (03:30) We're not just building the businesses we have today. We're building the businesses we want to have tomorrow. - Michele (11:44) Make a plan to measure what matters and profit matters. - Michele (14:49) To stay out of debt, we have to love saving more than spending. - Michele (18:00) Contact Michele Email: Team@ScarletThreadConsulting.com Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: All Roads Lead to Profit, Episode 004 with Mike Michalowicz Profit First by Mike Michalowicz Financial Peace by Dave Ramsey
Hi, I'm the Profit Answer Man! I help small business owners simplify their financial reports so that they can make more informed business decisions with fewer hassles. Schedule your free, no-obligation intro call: https://bookme.name/rockyl/lite/intro-appointment-15-minutes More about making profitability simple: http://profitcomesfirst.com/ Email: rocky@profitcomesfirst.com Profit Answer Man Facebook group: https://www.facebook.com/groups/496018144624882/ My podcast about living a richer more meaningful life: http://richersoul.com/ Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
Mike Michalowicz (Author of Profit First - www.mikemichalowicz.com) sits down to talk with John about small businesses, mental health and stress in a Covid-19 landscape and his upcoming book - Fix This Next (www.fixthisnext.com)
I was happy to catch up with Mike Michalowicz, 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. He 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. If you've listened to his audio books, you'll be pleased to know that he's just as nice and personable in the "real" world. Note: I've got him tape (well, digital audio) saying that he'll be back to talk about his next book, Fix This First. We covered that for a couple of minutes at the end of the interview. Stay tuned. And if you have questions for Mike when he returns, send them to me! Mike's new book, Fix This Next, will be coming out in April. Mike's Links: http://www.mikemichalowicz.com/ https://www.facebook.com/MikeMichalowiczFanPage/ https://twitter.com/MikeMichalowicz https://www.instagram.com/mikemichalowicz/ :-)
One of the most challenging aspects of being a speaker is avoiding the feast or famine financial rollercoaster. Our guest today has advice on how to leave the rollercoaster ride at the amusement park, and keep your bank balance on an even keel. Mike Michalowicz first joined us on episode 119 and today he's back to talk about the financial side of speaking. Mike is an entrepreneur, well-known keynote speaker and best-selling author who has written several books including Profit First and his latest, Clockwork. His strategies have had a big impact on my life and on this edition of The Speaker Lab you'll get a taste of why. Join us for episode 254 with Mike Michalowicz. THE FINER DETAILS OF THIS SHOW: What is "the drip"? How does he approach quarterly tax estimates? What are we actually taxed on? How much should you reserve off your fees for tax liabilities? Can you own your content and have someone else deliver it? How he has specialized his Profit First content for different verticals. When does it become about the product and not the speaker? How do you know what size business is appropriate for you? And so much more! EPISODE RESOURCES Mike Michalowicz's website The Entrepreneurship Elevated Podcast Clockwork, by Mike Michalowicz Profit First, by Mike Michalowicz Mike Michalowicz on Twitter Episode 119 of The Speaker Lab The Speaker Lab on YouTube Got questions? Send them in here Email me! Subscribe on iTunes, and leave us a rating or review
“I see the new building, and the delivery trucks and all of the promotions she is running around town, she must be killing it with her business!” You and I have both said it at some point. We declare, “they are making money hand over fist!” when we see that promotion or branding somewhere in town. It all looks so easy...just show up, money rolls in, people love working there and all is perfect. That is rarely true. Chaos is more consistently the norm for most business owners who are swimming in decisions, directions, confusion, and success swings just trying to hold it together while keeping a pristine, branded exterior. Certainly there is a lot to continually think through day to day so here are three things that are important to monitor on a regular basis in your business, in fact we monitor them weekly in our business. We call them the ABC’s and they make up the “Level Two Dashboard”. You may ask, “what is the Level One Dashboard?” It is actually just the “A” of the ABC’s I am about to share. Here are the ABC’s of what you can be monitoring weekly or every-other-weekly in your business. Accounts Darryl Lyons (author of Small Business Big Pressure) and I were having a conversation about financial elements in every business that must be tracked regularly and he surprised me with the simplicity of one of his points-- watch your cash accounts. Darryl mentioned that he reviews his cash accounts once per week. Eyeballs on your cash weekly will allow you to watch it barometrically, checking for any major spikes or dips. It’s not a line by line drill down on isolated spending on things like $4.22 smoothie purchases, but instead a high level look to see the overall flow of your cash. You need to see how the cash actually flows. Minor shifts are expected, but when the numbers climb or fall at a serious grade, that is when you know it is time to dig. Was there a big bill due? Did a massive check come in? Is money leaking? One business owner we met with years ago was completely (and I mean completely) in the dark as to the amount of cash in his business accounts. His rationale, “they will tell me when it gets to low.” Not a good strategy. Once per week or every other week, take a look at your cash accounts (yep, plural, “accounts”...go read Mike Michalowicz’ Profit First and IMPLEMENT). Bookkeeping Most businesses have some form of payables (what you owe) and receivables (what you are owed). Once per week or every other week it is good to know what these are. For some of you it is easy to pinpoint how much you owe through a statement or a spreadsheet, for others it is more difficult. Either way, you have no excuse to not know payables like monthly subscriptions, vendor and subcontractor payments, facilities payments, payroll, and others. Knowing this general payout will allow you to know what will be coming out of those accounts that you have already taken a look at over the coming weeks. So instead of your account having $10,458...it actually has that PLUS whatever will be coming in over the coming weeks MINUS what will be going out over the coming weeks. A simple “Aging” or “Receivables” report within your bookkeeping software will allow you to see what should be coming in by way of payments to the business. On a basic spreadsheet you can a section showing all of your account balances, and then a section showing what you owe and what receivables you have outstanding. We actually run this calculation every week: Total Cash in our Accounts +Receivables -Payables -Tax Account = What the real time cash position IF we collected ALL receivables and PAID all payables It’s just a number that is nice to know. Customers Finally, it is crucial to monitor your customer engagement with Existing Customers Non-Yet Customers Past Customers This is where you track important metrics around marketing, engagement, and communication. An Attorney may monitor: Existing Customers: number of cases won, gifts sent Non-Yet Customers: number of phone calls received to appointments set Past Customers: number of follow up calls placed A Contractor may monitor: Existing Customers: weekly updates sent, special events delivered Non-Yet Customers: number of website leads, number of follow up appointments Past Customers: past customer “Happy Hour” participants Whatever metrics are important for your particular business is what you will track. For Business On Purpose we track things like Podcast Downloads, Book Sales, 1-on-1 phone calls, and Coaching Hours among other items. Is it possible to know every nook and cranny of your business? It is a challenge because business is dynamic, constantly changing and flowing. Monitor the ABC’s of your business-- Accounts, Bookkeeping, and Customers and review them weekly and you will begin to punch chaos in the mouth. THAT is when you know you are “killing it”. Scott Beebe is the founder of Business On Purpose and the host of The Business On Purpose Podcast. He can be found at mybusinessonpurpose.com.
My guest today is so very highly anticipated. I've been a fan of Michael since I was first introduced to his work through his book, Profit First. Michael's personal mission is to eradicate entrepreneurial poverty and he does that first and foremost through his best selling books including, Pumpkin Plan, Surge and The Toilet Paper Entrepreneur. He is the founder of Provendus Group, a consulting firm that utilizes his business growth methodologies. He hosts the Profit First Podcast and he has been featured in the Wall Street Journal, Box Pro Magazine, Entrepreneur and Harvard Business Review.
Donnie: Alright was this is going to be an amazing episodes we are going to sit down with mike Michalowicz, We didn’t spend whole lot of time on a back story, we just started jumping in a lot of the philosophy of business, entrepreneurism and there wasn’t any flop, it was a pretty cool conversation, I really enjoyed and I know a lot of you guys asked for me to get him on the show you could more of an intimate conversation with him so I think you are really going to enjoy this one. And this show has been for a quite few episodes now, is brought you by point blank safety services, so Stacy and Mike are doing awesome and amazing things for the freeways and highways and everything they do by protecting the constructions workers, drivers and just keeping everybody safe while helping police officers that we know aren’t just paid enough to do what they do and put their lives on the line every day for us, so they are really helping this police officers not only protecting us in the afterhours but protect their families financially by giving them additional jobs and work they can do on a regular basis, these guys are doing just tremendous work. And I love that they have taken their business success and turned it out over to the nonprofit they started which is called … family fund you know that organization is giving scholarships and is helping out the families of fallen officers, you know it’s really cool to see a company remember really where they came from and really giving back to the community as a whole, so do me a favor guys, go follow them on Facebook, go them out on Instagram, check out their website, send them messages and let them know Donnie sent you , you can find almost everything that they are at either at … family fund or point safety in almost all platforms, say hi to them, I couldn’t do this show without them. So I know a lot of you guys have been harassing me about get mike on the show, so I’m bringing on Mike Michalowicz and this going to be a lot of fun, we already smoke and joke about two Polish guys on a podcast, what could be wrong? But this is going to be interesting, I’m Donnie Boivin this is Donnie’s success champions, mike tell us your story brother, welcome to the show! Mike: Donnie thank you for having me, I’m an author, I’m excited to be here and I’m on a missing to eradicated entrepreneur poverty, there are so many elements I struggle with entrepreneurship and some many fellow entrepreneurs struggle with and my goal is to fix that for all of us. Donnie: I love the whole phrase, entrepreneur poverty, because that was my business for a long time you know. Mike: Well you know what it is, Donnie when you started your business I suspect is the same as I started mine and everyone listening, you star your business and his friends who never own a business, they look at you and they who “oh you started a business, you are millionaire and you sit in the beach and all you do is sit and all you do is drink margaritas” There is this perception as that if you are business owner, you are wealthy and you got all the time in the world, the reality is the opposite, so we have no time, we work our ass off, we sacrifice family, we don’t go on vacations anymore and we make no money! As the general population we are struggling financially, so there is this gap and I called entrepreneurial poverty and so my mission is to resolve that, to make us what we are envisioned to be and when you have wealth and you have time you can be of impact you can serve others, I mean we need to do this. Donnie: No I love this, because Ii think there is one more twist on that whole entrepreneurial jump, because if they don’t think are automatically super wealthy the other questions is, what the hell do you actually do for a living? Laugh Donnie: So you are not only battling how much money you are supposedly making and all this freedom that you have, you know my wife, people still ask her, what does Donnie do? And she’s like, he kind of does this podcast, speaking, I don’t know what he does. Mike: Is fine, so when I sold my first company I go proud, I came home to my dad and said “Dad I sold my business” and told them what happened, and he goes “congratulations, so you are gonna have a really job now” and I’m like what? And he’s “yeah because your security and all that” And I love my parents, they have been extraordinary to me, they love me, both of them tho are in trap in their perception of what success is, get a job, stick to a job for entirety of your life, and I think we are surrounded by that perception, spouse, have other perceptions, as entrepreneur the rule is to break the rules, to challenge industries, to bring in our concepts, is new to everyone, Everyone’s is like “what the F are you doing?” is not comprehensible. Donnie: You know is all interesting, I don’t about you, but when I launched my business, it took me a long time to realize that I spent so long as an employed so when I launched a business I kept constantly trying to almost create a job for myself vs a company and I get lost in the business because it was so hard to make that shift, that is why I tell people that entrepreneurs a made not born because you get punched in the face a lot by life to start figuring things out, was that kind of the same thing to you or you just stepped in gold and riches fell from the sky? Laugh Mike: Oh of course that was exactly my journey! I started the business and people where throwing money at me like what= Is this real? NO! No of course, my first business was in computers system, I was a computer guy and I open the door. Donnie: Where’s your pocket protector I don’t see it? Mike: Yeah well yeah, actually Donnie that’s what happens , I made a few phone calls and said I started a business and the money will flow in, I called a few people and they were “Oh congratulations, but I’m already taking care of” I said what? You know! I’m your friend! “No, I’m taking care of” and at the end of the day of and they didn’t mean, the holy crap moment kicked in, I think, in the beginning stages, and actual motivators for us entrepreneurs is fear, the first few years of my business I was terrified and what that terror does is kept me awake, I would wake up at 4 in the morning and get to work whatever it takes and I worked until midnight and repeat the process all over again because I was scared I was desperate as parent, the challenge tho is that fear in certain point becomes detrimental it gives you energy but it also gives you stress and start breaking you down, so illness kicks in or exhaustion so of course is a flip side, you don’t want to live in fear for the entirety of your life, use it as a spark and the over time you need to convert that idea was to confidence and when I started to get a bit of a routine I started to see some results, I said ok I’m gonna trying and repeat on that and I started to focus on what was working and doing more of what was working. Mike: But of course for none of us, you don’t start a business and the money falls in your laps and if it does, you are lottery winner but is actually a curse because then you believe that you don’t need and effort to make this money and so I think when you see on the cover of Ink Magazine “Oh started a business when she was 23 years old and by 24 is a billionaire” In many cases that becomes detrimental because they don’t understand the real journey of an entrepreneur, which is the struggle on the valley to get to the peaks. Donnie: Yeah Jim Ron when back to as far as motivational speakers go, he’s got a great phrase, he said, the first thing you done when you are handed a million dollars is you mentally have become a millionaire because most people will go through that ride and journey to whatever success they get through and is all those lessons that mold and prepared them for that success and I looked on people that entrepreneur is the new multilevel marketing thing because people go into multilevel marketing or neuro marketing and they are like “Oh Imma be a millionaire tomorrow you know, this I the greatest thing, I can sleep whenever I want t and do all that” so they launch businesses thinking along the same lines and I was just guilty of it, when I launched my business I thought the heaven was going to open up and everybody was going to be “Finally Donnie show up, let’s make a lot of money together” not knowing that you have to learn to run a business before you can try to find any sort of success but is a really interesting twist that how much you have to personally evolve along that journey to become a better version for yourself Mike: Holy F and true, and I love it you called the multilevel marketing but I sort of had a sentiment of it about a year ago kicked in, everything I talked about is entrepreneur and entrepreneurship and all the books I write, everything’s is of the entrepreneur, I’m sort started to becoming convinced that the word entrepreneur I a dastardly term now, I think is actually hurting us because entrepreneur has been equated to hustle and grind and I hate those terms, I hate them, so I understand the sentiment tho, I understand hustle and grind means you gotta make effort, like when I started my businesses fear was my motivator, I had to hustle and grind, here is the problem I think people are interpreting that entrepreneurship is perpetual hustle and grind and ten years into you belter be grinding out, in twenty years you better be grinding harder, you gotta carry this business on your back and this is the antithesis of what entrepreneurship is, the true definition is identifying n opportunity, taking a risk to make it happen and the choreographing all these resources, people, technology and even your clients to make that vision a reality, is not doing the work is the choreographing of other resources. I tell people, I was speaking yesterdays at an event and I’m on a room as an entrepreneur and I say yeah I got a challenge for you, when you are at a dinner party and someone ask you got you do, what do you say? And often is “I’m an entrepreneurs that does X” What about we don’t use the word entrepreneur anymore, and not even business owner because is the same thing, what if you call yourself a shareholder in a business, just by changing that label people are “what the what? Donnie: If somebody hit’s me that I would be like “what?” Mike: You know many people are shareholders, I own some stock, I’m in mutual funds, I’m a shareholder, no do I go to these companies and hustle to make successful? No, Do I do anything in the business? No! I do row when it comes to share holder boats and stuff, I do give I some directions as shareholder but I’m not actively participating in it, when we use the label entrepreneur we are saying that we actively work our asses of inside the business and I think we use the term shareholder is shocks ourselves back to reality, that our mission is to vote maybe through some action but. Donnie: Wait you should make a book out of this. Mike: How should I call it? Donnie: I don’t but something along the lines of start calling yourself a shareholder I think because is a cool philosophy. Mike: Is funny, so I may have a title now called “entrepewhore”. Laugh Mike: My publisher I told him and probably nah I don’t think so but maybe, because I think we bastardize ourselves so much we got to change our label if we change our label we change our behavior, is hard to change our behavior first still holding all labels Donnie: I agree with that, I got a funny book too, it’s called, “that’s not how you journal jackass”, so I got one of those too, is an eBook is free. Here is what I do, when I launched my business I had no idea how to call myself, I really didn’t think I was an entrepreneur because I think in true to my opinion, are the craziest sons of a bitch on the face of the earth because you got to be jut that shit crazy nuts to go launch a business, so I was warping my head around that I more this business owner that wanted to create this one business, this one company , this model and take it through, wasn’t it really worried about even a legacy type thing, I just wanted to get to that freedom state and I never been hung up on titles and such and people keep asking me, what do you put on a business card, my name? I didn’t know what to actually put in there, but it evolved, now is says business owner, I think I out CEO in one point but I’m like, Am I a CEO? I got virtual assistants but I don’t really have employees so am I a really a CEO? You know, but you dance with all this thought processes and I really love this whole idea of your shareholder because it really makes you shock your own system to reinvent how you position yourself in the market place. Mike: You know this plays out to employees too, my company is tiny we have 13 employees, I am number 14, we were a micro business and I used to give my colleagues big titles, so I bring someone on and maybe call them the CFO or the office manager and what I found is this that they just like me started believing the title as like who they are, so I had a person who has not even a degree in accounting, she was part time, but she was handling our number so instead of calling her the internal booking person I said we are going to call you the CFO, she went online and found that instead of paying $30.000 that’s what we were paying for that a typical CFO makes a $125.000 so she came back to me literally and said Mike I’m being so freaking underpay I’m being a CFO for this organization I’m not on 125.000 you are ripping me off, and I’m look whoa is just a title and she is no all CFO’s make that and my response was, you can’t got to Ford or GE and say I want to be your CFO and 125, is just a title , didn’t matter she quit, she couldn’t comprehend that, what I realize is that once we star owning a title that becomes who we are, is not just true for us the entrepreneurs, it’s true for all the humanity, if we call ourselves stupid then you become stupid if you say I’m lazy you will become lazy, if you say I’m driven you will become driven, but you have to keep on repeating enough times until you actually believe it to comply with that title otherwise we can’t own that title. So be very judicious in how you use titles is kind of the lesson here. Donnie: Yeah I love it, so Kevin is known to build all the automation to backing up my stuff, he put under the title of my first email campaign “founding badass of success champions “ and I’m like ok I take that, so if you are going yourself a tittle that you want to step into , you know that you want to own, like “founding badass” or something else along those lines, but is interesting I can see that, going through my career there was part that wanted to be a sales manager and I got sales manager and I’m said “fuck, I don’t want to be a sales manager” so there is a lot to be said in those roles, in corporate America structure formality, there’s a lot of responsibility in owning certain titles. Mike: Totally is, I think as a small business owner I aspired, not anymore, I aspired to be the big company, I wanted to have a billion dollar corporation, I wanted to be the CEO of Amazon after Jeff retire I wanted to take over, so I wanted to make my own version so I said if I want be that I have to act as if, that’s a popular term, act as if, so I’m gonna start using those tittle right now, but in the outside world that’s kinda of a shame, if I call myself the CEO and I walk in with my little company, people are like, who many people report to you? But none is only a couple of virtual people, are you really a CEO? O are you an entrepreneur that’s is starting in bootstrapping, so there is a risk there too, theirs is this disconnect and if we package ourselves in the wrong way is dangerous in fact our business … no titles whatsoever, because I do know that I go into a sales situation, sometimes it helps to say that I’m the owner and sometimes it helps to say that I’m the sales guy and being the owner is actually a detriment so I think a title is just a thing of conversation in what e aspire to have but also have to see the outside perception around titles. Donnie: I got other question because I know my followers have been counting on me and I got a lot of people that followed your book First, it was the first book that I read of yours and horrible book by the way. Laugh Mike: Worst book of all the time, hey at least I got a ranking somehow. Donnie: Hey you put profit in there; at least it has to sell one book. Mike: Right! I should have put an F bomb because that seems to be the popular books now, the subtle art of F’ing and I should put like F profit or something. Donnie: You know I’ve been getting a lot of the guys out of the UK right no on the podcast because they are really trying to make a push, they are calling it “the UK invasion” where a lot of the UK speakers are trying to come to the US and is so funny when they come to the podcast because I cursed a lot but those dudes say cursing to a whole other level. Mike: The brits do? Donnie: Oh my god yeah! And I have to forward warning because there a couple words they throw around like candy and I’m like, ok look, this is a US based primary show, I mean it plays in almost a 100 countries now but you got to be careful with the certain couple of words, the F bomb fine, but there are some other words they can’t just bring to the table! But profit first, that and pumpkin plan I think two of the two books of yours that get thrown around the most, at least on my circles, is profit first the first book out of the collection. Mike: So I’ve written 5 books, technically 6 as profit first has been re-released as revising expanded so that counts too, so I wrote this book of toilet paper entrepreneur. Donnie: Oh I remember that! Mike: Kind of a spit on the face of traditional authorship and it was my angry teenage years but it worked, it worked to put me on the map, at least with the publisher and it built a small … The pumpkin plan was my first kind of mainstream book and profit first was the break through. Donnie: That’s the one that really put you on the map, I’m in forward Texas, you know my hometown and I know there is a little workshop group to get together and discussed that book- Mike: Oh that’s awesome I love to hear- Donnie: And the content and everything is out of that, but I’m curious, when you wrote that book was that philosophy for your business? Or something you were attempting to do and you thought it would be the breakthrough for other people if you took on the same thing. Mike: No, it was purely for me, here’s interesting when you hear the resume of an entrepreneur like me I share the highlights, got a company, sold it, the thick of the story for most entrepreneurs is the struggle, the entrepreneur poverty and I have evaporated all the wealth I’d accumulated in some priors businesses that were dealing with debt, I was able to sell them pay off the debt and make money and never really understood profit, I started this 3rd business that … my resume I evaporated everything I had, lost my house over it, lost possessions, did not loss my family, that’s one thing, they stood by me, went through depression for a couple years, from 2008 to 2010, the highest level was called functional depression, you are a drinker and stuff and during that phase I realized that I fundamentally didn’t know the most basic elements of entrepreneurship, profits is one, I realized all the things I was doing was misunderstood, and profit what I realized is that we have been told profit is the bottom line or were you rent, every book I read is profit comes last, and I realized omg I’ve been putting profit last, I didn’t consider it until once a year I looked at profit and I’m like “Dammit, maybe next year”. Donnie: Wait so your business is supposed to profit? I’m confused by that. Laugh Mike: That’s what my old accountant said,” you don’t want to profit, hey congratulations you got nothing left” And I’m like “what?” Donnie: Hey that’s the whole reason I’m in business. Mike: And that made no sense, and entrepreneurship is not a parent child relationship, I call it BS on that, we often say hey I started a business I gave life to it is my child and one day I will nurture it and it will come back and feed me, no, is more of conjoint twins, as the business goes we go and as we go the business goes so if I’m struggling at home my business is going to struggle and if I’m going struggling on business my home is going to struggle, especially the finances, pour finances are in so last step, so I say I really gotta resolve this and I realize that is human nature when something comes last is insignificant , so profit can’t be last, profit has to be first, and the exclusion of course says, make profit to have it, every time you sell take a predetermined percentage of that money, is profit, hide it away in your business, repeat day in and day out and you will assure profitability. Donnie: Is awesome, is one of those book, at least it was for me when I read through it, it just made sense, because same thing, school hard … somebody could tell me the stove is hot three times and still touch twice to just to make sure. Laugh Donnie: But it’s one of those book that when you read you are like “ok that make sense to me why I don’t do it”? So I started to employing some of the principals of the company and the being typical growing up financially foolish, “oh we are hitting a down turn, let’s just pull form the profit pile we have already put into the business” and you are like ok that’s not the whole principles of the book but it was a fun read, what did the success of that book do for your business, you company, what evolved or changed for you? Mike: That’s an interesting question, there’s a couple of realizations, when the book hit, so it came out 4 years ago and 2 years ago I did the re-release and it hit right away, is funny how ego is, I got like omg all this main stages, Seth Golden move here comes Mike “Polish” Michalowicz. Donnie: Because you got that name that belongs in light. Mike: Right, exactly, when you hit the movie theatre and my name is two lines.. Donnie: Or is turned down on the edged Mike: I think the better one is a limp penis of an A, So first my ego is move over Seth Golden, here comes the new main stager and it was like deadly silence, I’m like for how long? The book is so popular and went on for a year like this and my agent who I spoke to me was “get ready for the pumped up fees” nothing, and so I was like I guess it takes more than just a popular book, and yea about a year ago also did … is not move over Seth Golden but is oh you are speaking Seth Godin is coming after you. So that happened, so I realize is when a book hits it takes time for it to start playing out in other facets which is speaking but I think that satisfies my ego and I love public speaking and is a joy. Donnie: Look, nobody writes a book without waiting a little bit of that ego. Mike: I call it C list celebrity. Donnie: So if there’s another alphabet out there I am in that I alphabet. Mike: I put myself in position C , what’s funny that means that if I walk through an airport none knows who I am, except one person every like 3 or 4 airport checks will say “AAAAA” and you get one fan that comes and say “ARE YOU MIE MICHALOWICZ?” actually one person came up and said “ARE YOU TONY HAWK?” And I’m like fuck no, but somebody will say that, and I’ll be like who is this guy, is very weird. Donnie: You next book you just gotta put your picture on the cover that is all. Mike: I will put a Tony Hawk picture, be my strange brother tony hawk. Is this kind of weirs moments when none knows who I am but one person who just happens and lose their shit but everyone else is confused by and everyone’s like why? Who’s this guy? Is he a doctor? Did he save your life? But the bigger thing is I’m on my mission to eradicated entrepreneurial poverty now we get the metrics in place, and I get emails actually I can see we get two since we started the interview, I get emails in 3-4 5-6 hour now of people saying, because I actually ask people to email me on the book, I say emails if you commit to this and they are coming constantly now and I can see I can measure the changes having in business and that is the greatest joy of my life, If I am ever down, for me is just log in the email now and sit there for an hour and everything is ok Mike, you are not looser. Donnie: I wanted people to hear that last phrase you said, everybody’s chasing something you know and I had a lot of coming even this morning with the couple guys I was talking to, they were liken men I could just have this happen to my life, life would be X, and I keep telling life is never X, life is right now, is that time you need to embrace you don’t need some sort of trigger mechanism to be catapulted to the next version of your life and I love the fact that you were humble enough to say that there are days like, this day sucks, this day is horrible and you gotta go look in the email to make sure life is on the same path and track, because is good for people who aren’t even in the first level on the alphabet list, you know you got the C list rockstar status to hear those kind of things because they are a lot of people, I know fans of the show I know were like “holy cow is Mike Michalowicz, he’s got “Profit First” and this and the other and they put you into rockstar status and often times when people put people on that rockstar status they gave them like the super power feed of strength and everything else, like nothing ever happens to them they are always killing it and crushing it and I really appreciate that humility you speak through. Mike: I want to speak that because I think is so important, I believe when we see someone as in a better position we put them on a pedestal, we look up to them, really that is a form of envy and I think is really damaging to ourselves, if you say “oh this guy is better than me, I wish I liked him” but in the same we are saying “I’m less than” and when we see ourselves as less then we want to disassociate, we actually one to pull someone down, as human nature say, well that person is not observing, Michalowicz they guy that probably got myself in driving, you pull in down, pity is just as damaging, pity is where you see yourself here and then there’s this homeless person in the street and “Thank god is not me” that causes a voidance when we move around them, both are form of dissociation an so I think they are very damaging. I don’t think we should ever use the term look up towards someone or look down to someone, I think we should always say look over, as cheesy as it is I’m big on like totems and this things you can see as the infinity circle and is my reminder that all of us are on the exact same path, no one is front or behind each other, we are on different positions of the path and we have just much to learn from someone who’s in the deepest struggles as someone that we perceived is having the greatest successes, all of them are learning experiences and we can call from each other but if we look up or look down we disassociate, I think we need to say Donnie I look over to you I want to learn from you, tell me your secrets, Mike I look over to you, so I say never look up, never look down. Donnie: I love that, I never heard it put in that perspective but you know Richard Branson when he takes people out to his private island , one of the first things he asked to everybody out there is, teach me something and I’ve always been fascinated by it because you got Richard Branson, one of the wealthiest man in the world , one of the most cool CEO, at least that is the brand he puts in the market place, a whole part of that is true but the fact that everybody comes back from me to the island going “Richard Branson asked me to teach him something” and I’m always curious to say, what could you teach as Richard Branson and I think a lot of those pull some random shit out their ass but “I taught Richard Branson” Really? Really!? Mike: I never heard that story I love it and I think it speaks therefore to great intelligence because I bet you, we all got something to teach as much as he teaches us, I don’t think he is more successful than a brand new startup entrepreneur, by certain definitions, the wealthy accumulated, the exposure he’s gotten, I don’t know and this is no judgment, I don’t know what his family is like , I don’t know what is balance is like, I don’t know his contribution to society is like, I don’t know, I also think that we hold people to a higher celebrity ship when they have broader impact as oppose to deep impact and I think most of us are designed for deep impact, Let me use doctor Oz because that example come to mine, Initially he was a cardiovascular surgeon with very deep impact, he saved some people’s life forever, he gave people not 6 more hours of life but 60 more year of life because of his work, he then made a choice to go broad meaning he went on Oprah he started to talking about health and then the guys is Impacting many people, the difference is , Doctor Oz now has a very broad impact but is very shallow you see him on tv shows and eat your vegetables is the lessons, when we worked as a cardiovascular surgeon, now he’s got a very deep impact, I think is a choice and I don’t think is one is better than the other, the shame is we hold up to celebrity ship people with only broad impact, it’s the famous football player, the famous movie start or the famous author like Malcom Gladwell, someone I exalt but never met Malcom Gladwell he just had an impact in some many people and is a name other people recognize I think is equal regardless of what we do of significance and people that are going for deep impact, I guess the lesson here is don’t aspire to be broad, aspire to be who you are call to be, if it’s deep go deep, if it’s broad is broad if it’s something else do it, just speak truly to yourself, they are all significant. Donnie: Man I love that, is such a powerful message because most people in my belief that have hit a celebrity status they are really good at one thing. It comes down to … marketing, I tell people all the time Tony Robbins, one of the biggest motivational speaker of the world and I ask people all the time and they are like omg is Tony Robins, Tony Robins, he’s done amazing things I’m not knocking down for anything but I ask people all the time, What’s Tony’s job? “Oh he is the CEO of the company blah blah blah” and I mean no he is not, and they look at me like “ what do you mean?” He is the face of the company, Garyvee, he is the face of the company and even Mike Michalowicz a C list celebrity is the face of the company, now all that to say is not meaning they are not making decisions, they are not having vision but they are the PR machine their job is to build brand new awareness for the company is the broad stroke. Mike: Is like a band, the front man is the one who everyone knows and is constantly with the groupies but the drummer and the bassist and the keyboardist who’s behind the curtains sometimes they are the ones collectively that need to make the music and I think that is what this organizations have, I think we can positon ourselves as the spokesperson and we will get all the accolades, I think the day I sort believe in that, over. Donnie: Have you seen bohemian rhapsody yet? The movie? Mike: Yeah. Donnie: I love the whole scene where the lead singer of Queen, can’t remember his name. Mike: Freddie Mercury. Donnie: Yes Freddie Mercury, thank you, that he hits all the fame and he goes out of his own and launches his own band and he’s trying to create the music and it all fails and he goes back to his guys and he goes “they did everything I told them to do” and I’m like that’s it! And he goes “They weren’t pushing back they did everything and the problem is I don’t know how to do all the stuff that you are great that” Mike: I think a great leader recognizes that , as a spokes persons you gotta be careful about being inauthentically humble, I see that too, and is like “oh is not me is not me” and declining as is actually discrediting the people who are fans of you, you can’t do that, the same thing you can’t say “this is all me” because you discrediting the people collectively making the product or the service that you do, so is a fine balance, I also think for the rest of the band, like Freddie mercury was the recognize brand and you have Brian May and then two guys like what was their names? That’s an ego check for them too but they are just as important. Donnie: Even if Freddie would have made it in a solo type carrier thing, even then he still has a band behind him. Mike: Even that is true. Donnie: The craziest thing about this whole ride and journey, I know the good things I’m good at, I’m really good on podcast, really good on interviews, well talking on stages but here is the thing I suck at the accounting side of things, I should read you book again “profit first” maybe probably help me out a little bit, but it’s a lot for entrepreneurs, business owners, whatever screwing tittle you want to give yourself, founding badass, is knowing your lane and knowing what you are good at and finding the right people that geek out on the stuff you suck at, is like I’ve got people that do some video editing for me, they freaking love that stuff, I’ve got people that do automated email for me, the gal who does some of the writing for me I call her a magician every Tim, I don’t know how she takes all the crap I put together spins it up and turns it into a master piece, she’s just got gift and a talent for it, but a lot of that is a humbleness for an individual to go “ok this is my lane, this is what I’m good at, how do I get other people to come along for that ride to pick up the slacks for me”. Mike: There is this thing I call the super hero syndrome when we first start a business we have to do everything, you have to do the accounting, you have to do marketing, there is no one else there, you have to, and we start believing wow I can do anything and then we start superheroing in swiping in when there’s problem oh I will fix this I will fix that, and the trap is, when we bring on employees we actually interning with their progress, they start doing something and we swop in we fix it we resolve, disabling them from doing the work themselves, plus we leave often awaken destruction behind us, entrepreneur like myself are known to fix the 5% of the problem, the big part that is noticeable and 95% like we can skip that and there is this shattered destruction behind us that needs to be swooped and cleaned up, I found that I can’t change my ego, I can’t tell “I’m just going to be mister Mike humble and everything is fine” what I did find is that I can rechannel my ego, I used to be very proud of being the superhero, the savior of my business, and now I use the term supervisionary and what that means to me is that I’m clear of where I want to take this organization but I am also as importantly clear about where my individual colleagues want to go with their lives and then my job is ok “how can I help Amy and Mike and Ron and Kelsey to achieve what their vision is personally and have that aligned the business” and I put more significance on that than being a super hero, now my ego is being filled, hey! I’m doing what I meant to do and the interesting is what I revert to being a super hero because I revert to that often and I say oh I fix this and I swipe in again, I realize that is a step down in where I see myself and put negative context around and I’m less likely to do it, before I thought if I had to remove myself form the business and no longer be the super hero I saw that as a step down so when I reverted back to this super hero role I was stepping up and therefore be stuck in it, so the goal is to put more significant to something else and it will naturally pull us put of doing the stuff that is actually not helping our business. Donnie: Yeah that’s a really interesting thought, I don’t have kids but I will say the next statement with that in front me, but often times, people that went through a rougher childhood, maybe didn’t have all the things they wanted as a kid and by the time they have kids they spoil they hell out of them because then have become success and the kids don’t learn the grind and drive that they learned to get and find the success, they hit the workplace and everything else and they will be a bit lost, entrepreneurs do the same thing with the employees, when you are taking care of the problem you are taking out he learning they need to evolve, I ran into this all the time in the creative side of things and Think this is probably the biggest screw that entrepreneur s have is they have a creative vision of their brand, their image, their everything else and when they try to explain to somebody else that other person doesn’t grasp their visions of what those color schemes or whatever else side of the businesses so they are like “Oh I screw up I will do this myself” Mike: I was talking to this guy Scott Alfred, I actually put him in one of my books, he said an entrepreneur would tell to an employee “hey we need to cook food here, get something that will cook food here” and they come back with sticks and rocks to spark a f ire and we are pissed of Like” Don’t you understand? I wanted a Viking?” and the employee is like “Oh I’m so sorry” but the reality is that we didn’t communicate what we wanted, they did the job, In other times they want the Viking and we just wanted sticks and rocks. So I think first of empowering them to make decision but also giving them the freedom that if they don’t comply to our vision to realize that maybe is not their fault, maybe we didn’t communicated well or maybe their vision for that thing is actually better than ours, maybe sticks and rocks is better, is this clinginess we have to what we have a personal vision or mission, how we see things in our mind and we can get upset when people don’t see what we see but we are often to communicating well at all. Donnie: Well and I would also add in there that I think, I want to speak for myself, there were a lot of times along this journey so far that I wanted somebody to swop in and take care of that problem for me, If this was an issue or problem and I wanted to go like “hey this is now yours” and take it completely of my plate and when it comes back and not what I had in vision and I am like “What the hell -” Mike: “ - Are you an idiot” Donnie: Right! Mike: That is called abdication; so many people think you are doing delegation when they are doing abdication. Donnie: Thank you I just added a whole new word today. Mike: Big word, I wanted to drop it, sort of finding where to use it. Laugh Donnie: You have been waiting the whole episode just to use that one. Mike: So I just thought of blurring it out if you didn’t have a question, but abdication is simply point someone and say you take care of this and that is the entire instruction said, and entrepreneurs are notorious for to scenarios, either micromanagement where is total control, here’s step 1, step 1.a - 1.b, or abdication which is the polar opposite and both of them are extremely ineffective, both of them prohibit growth to the organization. Donnie: So how does an individual doesn’t go to the extreme of both of those and actually find that happy medium combination because I’m guilty of both, Because sometimes I’m like “ok I have to tell them what to do or they are not going to figure it out so let’s roll out the power point and walk you through the 500 steps because I need it to get done” but other times I’m just off it, so how do I find the happy medium between those two? Mike: Is simply, you ask the employee, you say listen I want you to achieve certain results in the organization, I know you want to achieve these results, I will give you information, I need to know form you exactly what is enough information to give you direction or when am I going to the field that is too much, where’s actually hurting your creativity, I need the reverse too, if I’m giving just giving you way too little and you can’t achieve the visions that Ii have I need to know them too, is communication, is asking, shockingly we don’t do that often, is that you sit down the first day of the job and say “your job is to tell me when I’m not telling you what you need to know about me” that doesn’t make sense, is constant communication. Our little company we are going to a company retreat to Nashville Tennessee, literally next week and the whole thing is about communication, we are just going to sit there, have a talk, build a report, we have half day to set and learn from each other’s stories, because I know to grease the wheels of this organization is the communication and trust among each other is the ability of my colleague who I write her paycheck out to come back at me and say Mike you’re being an ass about so and so and not feeling threaten or in risk, that will only happen if we have a true connection beyond functional connection, if we have a human connection, I think there is where the answer comes. Donnie: And I love that, I think some people when they go into business they are looking for the pedestal, they are looking for people to look up to them and be that guy and I think that was a hard lessons for me because I know that was a part of my struggle as well is that I wanted people to seem me in a certain way which put me in this weird situation on how I was dealing with vendors and stuff until one of my mentors and coaches said dude, knock it off, but the whole thing is realizing that you are not superman, you are not creating something that hasn’t been created before, you are just repackaging somebody else’s shit up into a better more usable consumable product and format Donnie: I love the fact you are taking your employees in things like retreats and stuff, is that something you did out of the gate with your company or is that something you evolved into. Mike: Well we got it out the gate but is also something you have evolved into, well we had it out the gate but we’ve also evolved into, like going into Nashville is because we’ve had quarter after quarter of profitability that’s grown and we actually set an account called the retreat account so the firs retreat we went to Starbucks because we couldn’t afford lunch, me and my partner we jut said hey let’s just hang out before we get back to go back to work is something evolves, but what I did, recently I did the 4 week vacation, is something I wrote about in one of my book, so if you are going extract yourself from your business for 4 weeks, full disconnect and the business can grow or operate in your absence, you’ve proven the business can likely run into perpetuity in your absence. Donnie: I think that across the world every entrepreneur that just go and take this big gasp because they know way their business functions if they are gone. Mike: Which is a major problem, if you’re carrying the business on your back, and everyone will take the 4 week vacation or over, when get sick or die, so it’s going to happen, we are going to make it delivered so we are prepared for. The funny thing is that I’ve been presenting this concept around the world, when I was in Europe talking about this, we did this, literally yesterday, I flew back form BMW as there yesterday, all august, Germany shuts down and BMW ain’t going out of business, we need to do this for small businesses and so I went for 4 week vacation last year and when I did is not that business was perfect, I put a lot of structure in place to make it happen but there were some problems, one of the problems I realized is internal communication, I’ve become this choke point, when people have questions they come to me a group of come to me to see what’s Mike’s decision but they weren’t making laterally and internally, well I’m absence they were forced to, but there were some uncomfortable things like this person doesn’t really know the other person should approach them? Even if they went only 14 people, so that’s why we are doing this retreat, is all about just building report, we are going to do some cooking sessions together, we are going to have some wine together, we are just going to talk about our lives together, we are going to talk about our struggles and challenges, just to have that human connection, I really believe it greases the wheels. Donnie: Love it, I don’t why this popped to my head but I have strange question for you, what is your actual business? Mike: I don’t freaking know, laugh, I am a full time author, I write books, that’s what I do, so people think you can’t make any money out it, which is total bull, you can become very wealthy as an author if you do it right, the lessons here is I interviewed Tim Ferris on how to be an author a long time ago, he isn’t talking to me now, and he said of course you can make money, before that I was talking to people about being an author, and they said you make no money is horrible, and I said what has been your experience? I’ve never written a book, I don’t know, don’t trust people that haven’t done it, trust people who’ve done it, people that have failed learn why the fail and then learn and then I have talked to people who have been successful and find out the difference and go for the ones who are successful, I have a license: profit first, the pumpkin plan, clockwork, I have a new book coming out, to other companies and they pay me override of revenue so I have a constant revenue stream from all these different companies. Donnie: What do you mean by license, like program? Mike: Yes the program is called run like clockwork that teaches the clockwork system, they pay me a license in fee in front and 15% override … processionals for accountants. Donnie: You have accountants around the world. Mike: Yes over 350 and now and I license this organization but also in the case In that case I took an equity interest but the other two companies I don’t have any equity just the license in fee they pay me. So one of those things as people run their journey, one of the things I had to do was to turn to the people that has done it before , and realize somebody else had cut the trail, go learn from them and get advice from them along the way. Donnie: I gotta tell you man, this has been one hell of a ride I had no Idea about what you and I we were going to get into tonight and actually it has been kind of fun. Mike: Yeah on the recap my head says oh we talk about entreprewhore, you learned a new word abdicated. Donnie: Dude, don’t do the spelling bee on me, if you ask me to spell abdicate. Mike: I don’t know how to spell it I think it starts with an A Donnie: We talked about C level celebrities in there somewhere I am sure. Laugh Donnie: So that’s awesome, but dude I really appreciate the job done here, here’s how I like to wrap up every show and I do stump some people over this so get ready… Mike: 17 INCHES. Laugh Mike: Take it right? What’s the question? Laugh Donnie: I don’t want ask what 17 inches is! Now if you were going to leave the champions who listen to this show, people from all over the world, business owners, entrepreneurs, people who are trying to make the next movement in their life, if you were going to leave them with a quote a phrase a mantra or a saying, something they can take with them on their journey, especially when they are stack up against it and goring through what would be that quote or phrase you would say? Mike: So, I have it above my desk, Oscar Wilde says: Be yourself, everybody else is already taken. Donnie: Oh I love it is one of my favorite quotes from all time, didn’t know it came from Oscar Wilde, I saw it on a meme on Instagram and I thought “Oooh is brilliant”. Mike: Actually I went to Ireland, not specifically for this, but visited statue from him, visited his own home. Donnie: Where ahead in Ireland? because we were just there last year. Mike: Outside Dublin Donnie: Oh no kidding, Dublin was my least favorite city. Mike: Did you see the “Stiletto in the ghetto” the big spike in the middle of the city? Donnie: No we didn’t see that. Mike: I would say it was my least favorite too because is like any other metropolis. Donnie: That’s what my wife and I kept saying, is that if you go to Ireland go to Dublin and I would not knock in Ireland would no knock in Dublin by any means. Mike: No Omg. Donnie: Is like any other big city. Mike: The people in Ireland I would argue are the nicest people, India is number 2 but Ireland is number 1. Donnie: Did you do the breakfast thing? Mike: Yeah! Donnie: Dude I wanna tell you the nicest people, they were so genuine, and the breakfasts were insane. Mike: Insane, blood pudding. Donnie: And the two different styles and all that, so awesome, but look man I really appreciate what you doing, thanks for joining out and looking forward to many big things coming. Mike: Thank you! END OF INTERVIEW Donnie: Wow, what a fun episode, got to tell you, when you see one of these guys and hit some of the celebrity status and maintain this cool level of humility like Mike did all the way through this is just a fun thing to see is a great conversation you are part of. If you like those rise together authentic style conversations o a regular basis you really need to come and hang out with us in our Facebook group “success champions”, daily we are putting cool inspirational stuff or having awesome stories and we helping other rose and go together, so come hang out with us, just go to Facebook type In “success champions” look forward in groups join up and come tell us hi, we will be glad to have you there, if you got any value of this show whatsoever do me a favor, rate it, review it, share it with at least one fiend that would get value out of it, it would mean everything to me to get more people sharing and listening to these stories and ratings and reviews mean everything, so wherever you are listening this podcast, leave a rating leave a review, share it with a friend I really appreciate you guys, thank you for being a champion, thank you listening this show, keep on rolling shit up and keep going baby! Facebook https://www.facebook.com/MikeMichalowiczFanPage/ Instagram https://www.instagram.com/mikemichalowicz/ Twitter https://twitter.com/MikeMichalowicz Success Champions https://www.facebook.com/groups/SuccessChampion Music by Freddy Fri To book Freddy Fri or for more information -- freddyfrimotivation@gmail.com Follow Freddy Fri Motivation for WEEKLY MOTIVATIONAL VIDEOS and other content: Website -- http://www.freddyfri.com Twitter -- https://twitter.com/realplayya1000 Facebook -- https://www.facebook.com/FredWins/ Instagram -- http://instagram.com/freddyfrimotivation LinkedIn - https://www.linkedin.com/in/freddyfri/
Everything expands as we grow our income, and often—despite having a large or comfortable income—it can seem like you’re still barely breaking even and constantly struggling to get ahead. Mike Michalowicz is an author, speaker, and massively successful entrepreneur who helps people and businesses with innovative strategies and his famed “Profit First Formula.” He joins the show today to share where he and other business owners went terribly wrong and how to build a more solid financial future. You can find show notes and more information by clicking here: https://bit.ly/2WoVUrd
How are you showing up as a parent and an entrepreneur? Today, we have a special Mother's Day edition of the podcast as Dr. Sabrina and returning guest, Danielle Hayden, talk about two of their favorite topics: entrepreneurship and kids. Work ethic, relating to money, values, tough choices, curve balls thrown into life plans... Danielle and Dr. Sabrina share their experiences running successful businesses and raising kids. They agree that parenting as an entrepreneur is difficult and a lot of fun. Tune in now, to find out more! Danielle Hayden has a master's degree in accounting and financial management and she's a licensed CPA in the state of Ohio. Danielle found, at the beginning of her career, that as well as crunching numbers, she also had a passion for helping creative entrepreneurs understand their finances so that they can grow their businesses. In her free time, Danielle enjoys the outdoors with her kids and checking out local wineries and breweries. Show Highlights: Danielle talks about what it's been like for her, as a mother, running a successful business. Why Danielle wanted to start her business. Danielle's kids were quite young when she started her business and it's been fun to include them in the business as they have grown older. Danielle is really intentional about focusing on her work when she sits down at her desk. Danielle puts her phone down and really tries to be present when she's with her kids. Dr. Sabrina shares how she is with being present with her kids and keeping her business moving at the same time. Keeping boundaries in place but not being rigid with them. Danielle explains to her kids what she needs to do in order to be successful in her business. And that she's willing to go the extra mile to give her clients excellent service. Finding a way to show your kids that a business can support life, not the other way around. Why Danielle feels that, as parents who are entrepreneurs, we have a responsibility to run a more profitable business. Dr. Sabrina shares her 'aha' moment when she realized that she had to make her business more profitable. How implementing the Profit First system really helped Dr. Sabrina. How Danielle used the techniques of financial analysis in her business to make it more profitable. The turning point for Danielle, when she really knew that she needed to have a profitable business. Successfully blending two different business models can really be a challenge! Danielle talks about her Profit Planner book that is launching today. Danielle and Dr. Sabrina share what they are teaching their children about money. Teaching your kids about work ethic, how to earn money, and how to spend it wisely. Teaching kids how to balance their time and how not to overcommit. Danielle encourages her kids to debate. Training your kids to be 'A' Players. Resources: Listen to Danielle’s interview in Episode 31: Don’t Let Your Money Blocks Stop You From Making Good Decisions Profit by Design Facebook group Email: sabrinaandmike@profitbydesignpodast.com www.howtohirethebest.com is Dr. Sabrina’s free masterclass Get Dr. Sabrina’s Profit First Starter Kit Would you like to join a community of entrepreneurs setting our businesses up to support our lives and not the other way around? Check out Breakthroughs on The Bayou 4 Week Vacation™ Legacy Retreat at www.4WeekVacation.com If you're interested in being a part of the retreat, all the information is available at www.4weekvacation.com. Apply soon, as space is limited! Get Dr. Sabrina's free 4 Week Vacation™ Jump Start Guide: www.4weekvacation.com To get your copy of Danielle's Profit Planner, go to www.profitplannerbookkeeping.com. Use the code Profit by Design to get 15% off. You can also go to Facebook, to Profit Planner LLC (www.facebook.com/profitplannerllc) Or to Instagram @profitplannerbookkeeping Books Mentioned: The Pumpkin Plan by Mike Michalowicz Profit First by Mike Michalowicz
After ten years of working in personal finance, Gina Horkey wanted a change. She loved writing short stories and thought why not give copywriting a try. Just six months later she was making $100 an hour and getting ready to quit her job, sell her practice, and start working from anywhere. Gina is the founder of Horkey HandBook, a website geared towards helping others find or become a kickass virtual assistant. Her background includes making a living as a professional writer, an online business marketing consultant, and a decade of experience in the financial services industry. She’s also proud to be a married, millennial mama to two precocious kiddos from Minnesota. Sitting in traffic twice a day should be a thing of the past. Listen in as Gina talks with the guys about how to hire or become a badass virtual assistant, the 3 skills that every great VA should have, and her method to instantly increase ROI by contracting a new team member. Get even more insight about becoming or hiring virtual team members in our conversations with Moe Abbas and Josh Bartlett. “You get paid to learn, it's basically what it comes down to... you get to be the person behind the curtain looking around and it's amazing!” -Gina Horkey Some Topics We Discussed Include: How to find or become a badass virtual assistant Why working online is more legit now going to an office What salaries different VAs are making The right way to pitch yourself to businesses A method to safeguard from Scope Creep 3 skills that make for the best virtual assistants The right time to start contracting team members Rules to follow before making a new hire The tasks every business owner needs to hire for Why emotional tasks are the biggest drag on profit A system to instantly increase ROI by hiring a VA An onboarding process to maximize your new VA Contact Gina Horkey: Horkey HandBook Virtual Assistant Finder Connect on Facebook And on Twitter References and Links Mentioned: Hustle & Flowshorts – Our new daily podcast! GenM (Sponsor) – Find marketing apprentices for $50/mo Free Evergreen Traffic Playbook The Perpetual Audience Growth Course – Learn how to drive consistent, high-quality traffic day in and day out loom Help Scout LiveAgent CloudApp Snagit Trello Notion Start. by Jon Acuff The 4-Hour Workweek by Timothy Ferriss Clockwork by Mike Michalowicz Profit First by Mike Michalowicz Work Less, Make More by James Schramko Anything You Want by Derek Sivers Moe Abbas: Done For You Marketing Help For $50 Per Month Josh Bartlett: How To Build A Solid Team And Create Rabid Fan Customers
Entrepreneurs don't often think of themselves as leaders. Thinking like a leader will help you think bigger and step into creating the impact you want on your community and in the world. When you think of people like Elon Musk, Richard Branson and Oprah Winfrey, do you really think of them as business owners? They are leaders. There's a latent leader in you waiting to come out! The Talking Stick is in your hands now. Let us hear from you. Be part of the conversation - Join our community Facebook group, Creative Warriors Unite, at www.joinwarriors.com and share your feelings and continue the conversation. Mentions- Sharon Spano Time and Money episode Mike Michalowicz Profit First episode Contact Jeffrey - Website Coaching support My book, LINGO: Discover Your Ideal Customer's Secret Language and Make Your Business Irresistible is now available! Watch my TEDX LincolnSquare video and please share! Resources - Have Your Website Brand Message Reviewed! Is your website and are all your marketing materials speaking the right LINGO of your ideal customers? Often it's not which is why you're not converting traffic and leads to clients and attracting your most profitable customers. Fill out the simple LINGO Review application and I'll take a look at your website. If I have suggestions for you to improve your brand message (I almost always do), we'll set up a complimentary 30-minute call to discuss. A select number of websites are also chosen for my LINGO Review Video Series. Fill out the application today and let's get your business speaking the right LINGO! Music by Jawn
We’ve been told that profit comes last. At the end of the quarter, the year, and so on. But it shouldn’t. Learn how to put profit first in your shop in our today’s episode
Do you get all fired up after discovering a new system for your business only to find that you lack the confidence to implement the necessary changes? After listening to the previous podcast, with Vicky Suiter from The Profit Bleed, Mike was triggered with some familiar, yet uncomfortable feelings. In today's episode, Mike and Dr. Sabrina explore what to do to prevent feelings of failure and resistance to change. Listen in and find out how to build the confidence you need to implement new systems in your business. On today's Profit by Design, Mike and Dr. Sabrina are building on the topics from the previous two episodes. They got lots of great feedback from you, the listener, for both episodes! The concept of breaking even to thrive, and really thriving, not just surviving, in episode 21, struck a chord with many of you, so today Mike and Dr. Sabrina will be delving deeper, and taking a closer look at how you can ensure that you thrive in your business. They also talk about the new program they're developing to support entrepreneurs in designing a lifestyle business. Their ideas are being fleshed out in the conversation right here, on the Profit by Design podcast with input from listeners. Listen in to find out more. Dr. Sabrina's free 4 Week Vacation Jump Start Guide: www.4weekvacation.com While you're there check out the 4 Week Vacation Retreat which is coming up in a few weeks. Please help us get discovered by leaving an honest review in iTunes! If you do, (or if you've done so any time previously) your name will be entered into a drawing to win a book- The Pumpkin Plan by Mike Michalowicz, on the 25th episode. Show Highlights: Mike talks about a feeling he had that was triggered by the previous podcast, with Vicki Suiter from The Profit Bleed. He explains the fears that came up for him. Mike discusses the importance of entrepreneurs building up their confidence to break through their barriers. Getting all fired up after reading a book, and then lacking the confidence to implement what you have read brings about resistance to change. Why the resistance comes in. Mike explains why it’s important to make a commitment to the change--even on the days it feels like an uphill battle. What it looks like in our business when we're losing our confidence. The difference between implicit and explicit knowledge, and why drawing on implicit knowledge is so helpful in moving change forward. When we're trying to implement new systems in our business, we can benefit by drawing on the collective wisdom of the people who have already been there and done that to guide us through the rough spots. The psychology of the change process. Mike and Dr. Sabrina are launching a new program later this year, to create a group of entrepreneurs to work on their systems together and to establish goals and move towards them. The Two Week Look Ahead resonated with Mike. How Dr. Sabrina implemented a Two Week Look Ahead in her business. The benefits of having a tool to create clarity in your business. Be thinking about what your business is doing for you. Mike and Dr. Sabrina invite your feedback as they develop their program. If you're doing a Two Week Process, or something similar, and you have a set agenda that you take your team through, please leave us some feedback on the Profit by Design Facebook group about what you are including in your agenda. Mike would love to hear from anybody struggling with the implementation of systems. Links and Resources: Profit by Design Podcast: www.profitbydesignpodcast.com Profit by Design Facebook group Email: sabrinaandmike@profitbydesignpodast.com Books mentioned in the episode: The Pumpkin Plan by Mike Michalowicz Profit First by Mike Michalowicz Traction by Gino Wickman The Profit Bleed by Vicki Suiter How To Hire the Best by Dr. Sabrina Starling
This episode is a mashup of our top segments from 2018! Featured in this episode in order are Jim Marmon of Statement Lawncare, Matt Service Industry Marketer, Mike Michalowicz Profit First, Zach Miller Keener Corporation, Brandyn Terrazas Terrazas Lawn and Tree, Brian Horn Lawn & Landscape Magazine.————————————————————————————————————————————————Thanks to our sponsors JOBBER Jobber is a software that helps home service businesses Quote, schedule, invoice and get paid faster! www.getjobber.com EVERGROW Marketing - A digital marketing agency specific to the Green Industry.———————————————————————————————————————————————— Because of you we keep pushing! Let us know how we can better serve and add value to you! Send us your questions or discussion topics to @lawncareleaders via Instagram or email us at lawncareleader@gmail.com
012: PRIORITIES ARE INTEGRAL TO CREATING A FINANCIAL PLAN WITH VALERIE LEONARD Valerie Leonard is an award winning Financial Advisor receiving awards from Forbes, Investment News, Birmingham Business Journal and many more. Valerie’s mission is to help people be the best they can be by making the most of their financial resources and time. She is the co-founder of Grinkmeyer Leonard Financial in Birmingham, Alabama. TOPICS MENTIONED: Budget Financial Plan Insurance Priorities THOUGHTS FROM VALERIE: Sometimes debt is important in order to grow. My ideal client is someone that can value my advice and prioritize his or her financial goals and plan to work hard at it. My goal behind the Women and Cents events and my social media feed is to empower women and educate through it. It is extremely important to start with priorities and work backwards to set the financials in line to create the budget. We have the ownership and decision making with our budget. It is important to have quality time with clients and to give quality in order to maintain relationships. My profit goal is to improve the structure and accountability with my business. It is important to identify clear and measurable goals that are achievable. It is beneficial to show your work to your clients and let them know how much you really care and how much you’ve down for them. Identify the values and point those out to your clients. BOOKS: Clockwork by Mike Michalowicz Profit First by Mike Michalowicz Good to Great by Jim Collins Secret Service by John DiJulius SOCIALS: Facebook Group, Wisdom and Cents, https://www.facebook.com/wisdomandcents/ Valerie’s blog, https://northsideofaverage.grinkmeyerleonard.com/
In this episode we're going to talk through the top 5 books that I believe all businesses should read. Money is a big deal. More important than subscribers or exposure or my hair. It's also something that many funnel business completely fail to educate themselves on. We have a plan for our time, life, funnels, business and courses - but not our money. These are my top 5 books on money that all funnel builders should read. Choosing the right niche for your funnel business training: https://sellyourservice.co.uk/how-to-... The blog: https://sellyourservice.co.uk/blog/ The Facebook Group: https://www.facebook.com/groups/sysma... How To Own The World: https://www.youtube.com/watch?v=wOFx-... Rob Moore Money: https://www.youtube.com/watch?v=o893U... Mike Michalowicz Profit First: https://www.youtube.com/watch?v=-8O2R...
In this episode we're going to talk through the top 5 books that I believe all businesses should read. Money is a big deal. More important than subscribers or exposure or my hair. It's also something that many funnel business completely fail to educate themselves on. We have a plan for our time, life, funnels, business and courses - but not our money. These are my top 5 books on money that all funnel builders should read. Choosing the right niche for your funnel business training: https://sellyourservice.co.uk/how-to-... The blog: https://sellyourservice.co.uk/blog/ The Facebook Group: https://www.facebook.com/groups/sysma... How To Own The World: https://www.youtube.com/watch?v=wOFx-... Rob Moore Money: https://www.youtube.com/watch?v=o893U... Mike Michalowicz Profit First: https://www.youtube.com/watch?v=-8O2R...
Mike Michalowicz has grown three multi-million dollar ventures and sold two of them. He is a popular KeyNote speaker and is constantly coming up with innovative strategies such as the Profit First Formula to grow healthy strong companies. The former small business Wall Street Journal columnist has written books like Profit First, Surge, The Pumpkin Plan, and the Toilet Paper Entrepreneur. His latest book, Clockwork, teaches people how they can design a business that runs itself. Quotes To Remember: “Every business has a critical function that the business success and life depends on.” “Every business that is generating revenue need to start becoming more efficient.” “We need to select things that have great results versus things that are not.” “If we can identify these weak links and address them, the entire business elevates on a massive level.” What You’ll Learn: Determining the Right Time to Start How to Identify that “Queen Bee” Role Other Strategies To Do For Your Business When You Have No Funds For Delegation Finding Interns For Your Brand Key Links From The Show: Mike’s Site Episode 13: Finding The Next Wave Of Consumer Demand With Mike Michalowicz Recommended Books: Content Marketing Secrets by Marc Guberti Podcast Domination by Marc Guberti Clockwork by Mike Michalowicz Surge by Mike Michalowicz Profit First by Mike Michalowicz The Pumpkin Plan by Mike Michalowicz The Toilet Paper Entrepreneur by Mike Michalowicz Principles: Life and Work by Ray Dalio The Goal by Eliyahu M. Goldratt Scaling Up by Verne Harnish Traction by Gino Wickman
If Mike Michalowicz could show you the way out of the “hustle” and promised that in the process he could help you end your entrepreneurial poverty, would you step outside your comfort zone long enough to listen? Naturally, if you haven’t read one of this best selling author’s many entertaining and educational books on how to do just that, you’d ask why you’d listen to Mike in the first place. By the time he was 35, he’d founded and sold two multi-million dollar businesses, turned angel investor, lost all his profits, and has since launched a third million dollar business, so he’s got the CV to back up his advice. Listen in as Mike teaches us all about the queen bee role, the 4 D’s, and how to take a four week vacation from your business. If this episode shook loose some action steps that need tending to, follow up with Tim Francis on hiring the right key players and Paul Lemberg on setting business goals. "I think people are thinking we’ve got to work harder and harder and that is a fallacy. We need to think smarter and smarter. That’s the goal.”- Mike Michalowicz Some Topics We Discussed Include: Quit fighting, you both get credit for introducing Mike to each other guys… Who started that signature white suit first? Colonel Sanders, Dr. John Hammond or Michael Gerber? Matt describes Clockwork as the actionable E-Myth That story about Frank the mentor and the rusty lawn chair though What is a brand promise and how does it relate to a QBR (Queen Bee Role) This is not the QBR of the San Diego Padres What is the cram and scramble and why it’s the frenemy of small business owners How to flip the script on ego and guilt, the two killers of business self-sufficiency Not to be confused with the work-ation, for longer stints away from the “office” desk Seriously, if someone sculpted a naked guy and it’s one of the most recognizable pieces in art history, as a business owner, doing this is vital The 4 D’s of business ownership and how to use them to take four week vacations An effective strategy to make the leap into “spending” on your first (or next) employee The subtle difference between deciding and delegating and why you need to master the second as quickly as possible Why supporting an employee’s bad decision is a good practice Contact Mike Michalowicz: MikeMikalowicz.com Follow Mike on Facebook Watch Mike teach on YouTube References and Links Mentioned: Clockwork by Mike Michalowicz Profit First by Mike Michalowicz The Pumpkin Plan by Mike Michalowicz Traction by Gino Wickman Scaling Up by Vern Harnish E-Myth by Michael Gerber Start With Why by Simon Sinek Girl, Wash Your Face by Rachel Hollis Thrivecart Tim Francis - A Masterclass On Finding And Hiring The Right People Paul Lemberg - How To 10X Your Company’s Growth Ready to decide less and delegate more? Check out how you can when you check into the Advisory.
On today’s episode we welcome Mike Michalowicz. By his 35th birthday, Mike had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor, and proceeded to lose his entire fortune. Then he had to start all over again, with a drive to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the “Profit First Formula”, a way for businesses to ensure profitability from their very next deposit forward. Mike is now running his third million dollar venture. He is also a former small business columnist for The Wall Street Journal, he is the former MSNBC business make-over expert, a popular keynote speaker on innovative entrepreneurial topics, and is the author of Profit First, Surge, The Pumpkin Plan, and The Toilet Paper Entrepreneur, which BusinessWeek deemed “the entrepreneur’s cult classic.” In today’s episode we talk about how to make any business profitable, how to stand out from the crowd, and we learn more about Mike’s book, The Pumpkin Plan. Key Points From This Episode: Mike tells us how he got started on his journey to entrepreneurship. Hear how Mike was motivated to grow his business. Learn why you need to focus on niche specialization. Mike shares on how he founded and sold two multi-million dollar companies and went on to become an angel investor, and proceeded to lose his entire fortune. Discover what triggered Mike to start writing books. Hear how Mike coped during his two years of depression by journaling his feelings. Find out how the idea for Mike’s book, The Pumpkin Plan came about. Learn why focusing and exploiting strengths are the key takeaway’s from this book. Find out why Mike says to take your profit first then to serve your clients. Hear how you reverse profitability by taking your profit first. Understand what Parkinson’s Law is and how it is applied. Mike identifies one book that everyone must read. Learn some steps that someone stuck in their business can take to break free. Hear what piece of advice Mike’s father never got to tell him yet demonstrated in his actions. Discover why Mike says that action always beats out learning. Find out what projects excite Mike. And much more! Links Mentioned in Today’s Episode: Mike Michalowicz – http://www.mikemichalowicz.com/ Mike on Twitter – https://twitter.com/mikemichalowicz Profit First – http://profitfirstbook.com/ All of Mike’s books on Amazon – https://www.amazon.com/Mike-Michalowicz/e/B002E4G0CC Frank Minutolo – http://www.rfm2020.com/ Robert Cialdini’s book, Influence – https://www.amazon.com/Influence-Psychology-Persuasion- Robert-Cialdini/dp/006124189X/
Imagine selling two multi-million dollar companies, becoming an angel investor and then losing it ALL. That's exactly what happened to serial entrepreneur and our So Money guest today, Mike Michalowicz. Determined to figure out how to grow a healthy and strong company he started all over again which led to the "Profit First Formula," a way for businesses to ensure profitability. Now, Mike is running his third multi-million dollar venture. He's a former small business columnist for The Wall Street Journal and author of the new book, Profit First: Transform Your Business from a Cash Eating Monster to a Money-Making Machine. In our conversation we discuss the WRONG way many businesses crunch their numbers. And Mike's simple yet profound switch that can help you generate money. Hitting financial rock bottom, having to confess it to his family..and the unforgettable move his then 9-year-old daughter made that inspired Mike to turn his finances and life around. For more information visit www.somoneypodcast.com.
Real Estate Investing Profits Master Series with Cory Boatright
Ever feel like you’re getting too caught up in this business sometimes? The market is always changing. There’s so much information coming at us all the time. We can barely keep up! We think we have to learn it all, do it all, when really all it takes is that one first step. Get your head on straight and follow your gut. Deciding on a path and seizing it is a surefire way to get yourself better organized! This is your business and it’s motivated by you and your faith in doing exactly what you need to do. My guest today is Joe McCall. He’s going to break down his strategy for wholesale leasing options deals, but he’s also going to discuss how to balance your time, your tenants, and your business. Joe does his research and finds the perfect neighborhoods for his investments. He calculates his most comfortable income and only creates deals that fit within that spectrum. His strategy also avoids the two major pitfalls real estate investors succumb to. Failing to pre-screen tenants is a major part of today’s podcast, and Joe talks about his screening strategy to help protect you and your investments from unrewarding tenants. Tune in now, and if you really enjoy today’s episode, give me a shout out and leave me a review. Now, here’s Joe McCall! MINUTE MARKERS 6:25 - Meet Joe McCall 8:07 - Joe breaks down his real estate expertise 10:28 - What was Joe’s breaking point? 15:00 - Understand the focus behind Joe’s real estate investment strategies 17:23 - How does Joe know when to walk away from leasing deals? 20:45 - Here’s how Joe screens his tenants 21:50 - The two biggest challenges Joe faces with lease options 24:30 - Why would you need a licensed realtor? 27:37 - You need to start pre-screening your tenants! 29:40 - What’s the best lesson Joe ever learned? 31:40 - Joe drops some advice for the newbies 32:12- Joe’s favorite quote is a powerful one from Jim Elliot 32:57 - Have you read Pumpkin Plan? 33:33 - Joe’s favorite mobile apps 34:02 - How does Joe get 7 hours of sleep? 35:04 - Joe breaks down his morning routine 35:41 - What is Joe most grateful for? 36:53 - When did Joe hire a mentor? 38:22 - Joe is inspired by this business! 39:39 - Check out Joe’s podcast: Real Estate Investing Mastery QUOTES/Tweets It’s always important to sharpen your brain, sharpen your skills. - Joe It’s okay if I make a mistake, I’m going to do this anyway and I’m going to figure it out. - Joe Links and Resources: Joe’s Website: Real Estate Investing Mastery Interested in wholesale lease options? Check out Joe’s Wholesaling Lease Options Chris Chico Steve Cook Tom Kroll Jim Elliot Secrets of a Millionaire Landlord by Robert Shemin Pumpkin Plan by Mike Michalowicz Profit First by Mike Michalowicz Evernote Voxer Slack Ask Cory A Question Want to get in touch with Cory and ask him your most burning Real Estate Investing question? We’ve made it super easy for you. Just head over to our Ask Cory A Question page and start recording. Cory will play your question live on an upcoming show and answer it personally. Who Do You Want To Hear From? Name some folks I should get on the show! Hit me up:support@realestateinvestingprofits.com and I’ll do my best to get them on. Did You Get Your FREE Investing Guide? TEXT the word PROFIT (38470) to immediately sent Your FREE Investing Quick Start Guide! JOIN The Elite Real Estate Investor’s Board of Directors http://JoinMyMastermind.com Connect Here Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download. And don’t forget to get involved with the REIP coaching program at realestateinvestingprofits.com/coachingapplication or click on the “Coaching” tab on our website!
Today's episode is life-changing and offers a specific plan to develop financial freedom in your life. One of the best ways to be creative and enjoy the process is not to have to live a life where you are working to pay your bills. I've learned that it's not that you're doing something wrong it's more about being taught a system that just doesn't work. Today you're going to learn how to put profits first, and that means you! By his 35th birthday, MIKE MICHALOWICZ had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor and proceeded to lose his entire fortune. He had to start all over again. Driven to find better ways to grow healthy, strong companies Mike created the “Profit First Formula,” a way for businesses to ensure profitability from their very next deposit forward along with many other innovative strategies. Mike is now running his third million dollar venture. He is a former small business columnist for The Wall Street Journal, the former MSNBC business make-over expert and a popular keynote speaker on innovative entrepreneurial topics. Mike is the author of Surge, Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed “the entrepreneur's cult classic.” Highlights - Profit First Formula Profit First system Amplifying who you already are #1 thing that matters most in every business How to eliminate cash flow peaks and valleys Resources BlueHost Warrior's if you need secure, hassle-free web hosting for your website or blog BlueHost is our pick. They are easy-to-use, affordable and reliable. No technical experience needed to get up & running or to transfer your current service. BlueHost saved us tons of money and has the best service. Visit creativewarriorsunite.com/bluehost for our offer or get the link in our show notes. Acuity Scheduling If you want more of your most valuable resource back, automate your calendar with our top pick, Acuity. No more back and fourth, no-shows or multiple calendars to manage. All appointments, reminders, cancellations, even payments happen with 1-click. Acuity helps you gain time! Visit creativewarriorsunite.com/acuity for our offer or click the link in the show notes. Grammarly In our fast-paced world, we still need to clearly and confidently communicate what we want to say. Grammarly is our private editor 24/7 checking our spelling and grammar whenever we write something online to help avoid embarrassing mistakes in comments, tweets, and status updates! Grammarly is a Better Way To Write. Visit creativewarriorsunite.com/grammarly for our offer or click on the link in the show notes. Audible Books The easiest way I know to get inspired when reading is not an option is with AudibleBooks. You can regain time and transform your commute, workout or chores into fun, productive ME TIME! Audible books are offering a free audio book, try it, like it and stay or cancel and keep your free Audible book. Visit creativewarriorsunite.com/audible for our offer or click on the link in the show notes. New Free MasterClass: Warriors, if 80% of your income comes from 20% of your clients, 80% of your clients are the wrong clients! Imagine what it would be like to have almost 100% of your income come from all your clients because you're working with the right clients. Learn how knowing their secret language will attract your right clients— people who value what you do and are eager to pay you what you're worth. To register for this new masterclass, go to YourRightClients.com, and I'll see you in the masterclass! Guest Contact - Website, Twitter, Facebook Books Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry's Big Kahuna The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll Gift:Propel your business forward and register for Week of The Warrior for free. A 7-day mini-course to learn how to leverage your creative powers.
Mike Michalowicz is the entrepreneur behind three multimillion dollar companies and is the author of "Profit First, The Pumpkin Plan" and "The Toilet Paper Entrepreneur." He's a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Today Mike travels the world as entrepreneurial advocate. He is globally recognized as the guy who “challenges out dated business beliefs” and teaches us what to do about it. During today's show, Mike talks to us about his book "Profit First," in which he give us details on the cash management system that will ensure any business – of any size, in any industry, no matter how much debt it carries or how many years it has been operating — will become permanently profitable. Visit: ActiveMgmt.com.auVisit: fitnessbusinesspodcast.comEmail: info@activemgmt.com.auPhone: +61 2 9484 5501Twitter: @fitbizpodcast
By his 35th birthday Mike Michalowicz had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor… and proceeded to lose his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the “Profit First Formula”, a way for businesses to ensure profitability from their very next deposit forward. Mike is now running his third million dollar venture, is a former small business columnist for The Wall Street Journal; is the former MSNBC business make-over expert; is a popular keynote speaker on innovative entrepreneurial topics; and is the author of Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed “the entrepreneur's cult classic.” Email: mike@mikemichalowicz.com Website: www.mikemichalowicz.com ------- VISIT: www.progress-not-perfection.com SPREAD THE WORD: If you liked this episode, please subscribe in iTunes and WRITE A REVIEW. This is what helps make the podcast easily accessible to those who could benefit from it. GET NEW EPISODES DELIVERED TO YOUR PHONE: Download the Podcasts app and subscribe to the progress-not-perfection podcast to have new episodes delivered directly to your phone. FEEDBACK: If you want to bounce any ideas off me, provide show feedback, or guest recommendations, email me at zaid@progress-not-perfection.com.
Be a boss and automate your savings. "Money amplifies our true self."-Mike Michalowicz The Cheat Sheet: What is Parkinson's Theory? ____ makes us lazy, Mike fills in the blank. Money has now become a mechanism for what? What is The Wedge and how do you apply it for a better life? How to and why to start saving money, no matter how much or how little you make. And so much more... Do you always tell yourself you'll save more when you make more money? Or maybe you did say that in the past but now you actually make more and still don't feel like you have enough to start saving. Here with solutions to both situations is the author of several books including Profit First, Mr. Mike Michalowicz. Mike has written extensively about profits, making money and entrepreneurship. But even if you don't have a business or you don't consider yourself an entrepreneur, this show is for you. Today we talk about putting profit first and expenses second, whatever your financial situation. Listen in for all of that and so much more on episode 348 of The Art of Charm. More About This Show: By the time he was 35 Mike Michalowicz was a millionaire. He had sold his second business for mucho dinero and he was awfully proud of himself. Too proud in fact, something he readily admits caused his next missteps. After finding himself with boatloads of cash he decided to be an angel investor. He thought that's what everyone does after they make a million - they invest in other businesses, show those businesses how to make millions and then earn billions as a result of their investment. That was his plan, and it completely backfired. He didn't use common sense regarding the companies he chose and he paid the price for it. He paid the FULL price for it. Between his bad investments and his need to flash his money around with expensive cars, toys, etc, he lost all of his earnings. So after a "Come to Jesus" moment, he went back to the drawing board of entrepreneurship with a different mindset. Instead of asking how he could make money and how much, he asked himself what was the right thing to do? His answer was to write The Toilet Paper Entrepreneur. Today it is a cult classic in the entrepreneurial and business worlds. From there he went on to write The Pumpkin Plan, another insta-classic and then his latest best-seller Profit First. His most recent book is what we spend a great deal of the show talking about today. He gives us a quick overview of what the book is about and how to incorporate the topic into our own finances. The nitty-gritty of Profit First is this: businesses who set aside a portion of their cashflow first as profits will be more profitable and lucrative in the long run than those who wait and see if there's anything left at the end of the fiscal year. It's all based around an idea called Parkinson's Theory, which (highly simplified) says you'll use up whatever is there no matter how great or small the amount. Whether it's toothpaste, toilet paper or money, you're going to use whatever amount you give yourself and make available to be consumed. So Mike's contention is that businesses and people alike should be taking a portion of funds out first (ie putting profit first) and dispensing them into accounts they cannot touch. If you are an entrepreneur, when you get paid set up your account to automatically withdraw a percentage and put it into a retirement fund. If you're employed talk to your employer about your 401(k); get it set up so it automatically deducts money before you even see your paycheck. Based on Parkinson's Theory you'll learn to live off the amount that's leftover. But if you don't automate this you won't do it, you'll end up spending all the money that's available to you. Even if it seems like you can't afford to set aside any money right now Mike says to start with 1% of your paycheck. If you make $1k a week, then have 1% taken out. It's only $10, you won't even notice. But over time that money will start to add up in your retirement fund and soon you'll have far more wealth than you thought you could accrue. This is a fairly watered-down version of Mike's teachings so tune in to hear the full details straight from the source! And after you do, thank Mike for being here and gracing us with his priceless knowledge. And thank yourselves for being here (I do) and we'll see you next time. THANKS MIKE MICHALOWICZ! If you enjoyed this session of The Art of Charm Podcast, let Mike know by clicking on the link below and sending him a quick shout out on Twitter: Click here to thank Mike on Twitter! Resources from this episode: Mike Michalowicz's web siteMike Michalowicz on TwitterProfit First, Mike Michalowicz' latest bookThe Toilet Paper Entrepreneur, Mike Michalowicz' first book The Pumpkin Plan, Mike Michalowicz' second book You'll also like: -The Art of Charm Toolbox -Best of The Art of Charm Podcast Wanna leave a comment? Too bad! Email me instead (we read everything)! HELP US SPREAD THE WORD! If you dug this episode, please subscribe in iTunes and write us a review! This is what helps us stand out from all the fluff out there. FEEDBACK + PROMOTION Hit us up with your comments and guest suggestions. We read EVERYTHING. Download the FREE AoC app for iPhone Email jordan@theartofcharm.com Give us a call at 888.413.7177 Stay Charming!
Susan Baroncini-Moe is this week's guest. She spends her days as an Entrepreneur and Executive coach. Working at writing and improving herself. She paid her way through graduate school by teaching web-design and converting printed materials and helping companies take their printed material and begin selling it as marketable materials online. Inspiration: The work Susan was doing early in her life was extremely keyboard intensive. However it was starting to affect the health of her wrists. The doctors told her either change the career or it would be surgery. So she hung up the keyboard and became one of the first successful coaches out there. Rather quickly she was able to start attracting clients that aligned best with her earlier experience with web-design and web-presence. Challenge: Businesses tend to grow slower than you might want. Susan found that almost right away and along with that the recession was starting right when she was getting rolling. Susan felt that one of the biggest hurdles was her own personal 'brain junk'. Things like self-doubt and second guessing herself were some of the biggest challenges. She also fights against her ADHD, which only seems to be getting worse. Her Assistant helps keep her on task and nailed down so that she can work through any challenge that comes up. Passion: Susan is most passionate about her clients and working in the 'brain junk' space. She spends a good amount of time quantifying and analyzing the data in the digital market space so that she can make real improvements Vision Susan doesn't think that she needs to dominate the world. it would be nice, but not what she is really looking for. She likes the idea of live events, but is currently shying away. Ultimately her goal is to continue to build the brand and grow her business. She wants to keep investing in herself and her business and her team. Advice: "Do what you say you are going to do, when you say you are going to do it." - Larry Winget "Or faster, or better!" is Susan's little addition to that. It's important that people get the results they are looking for, simply by doing exactly that. Personal Growth With every year that goes by Susan feels more and more humble, but even more confident. she has come to know that the business isn't just for her, but to help create the life that can be possible. Gadgets & Tools Susan has a love/hate relationship going on with technology. "[It's] become so ingrained in our lives that we are loosing ourselves in the gadgets." That being said, Susan's phone is attached to her at all times and she would be lost without her MacBook Pro. They are the ultimate tools that she cant live without. Looking Back: Susan says simply, "Hang in there, don't worry and honestly when success comes it doesn't mean you don't have to be frugal!" Remember to get your finances managed and don't squander your resources. books blogs podcasts Mike Michalowicz - Profit First a fantastic book on accounting. Not only is it captivating, it's a very unique approach and it's a really great resource. Bob Burg - The Go-Giver Series Anything by Larry Winget Grow A Pair is an excellent choice. and of course Susan's own book - Business in Blue Jeans Shane Snow has a great book called Smartcuts that is simply a phenomenal book. Interview Links: Learn more about Susan by visiting her at Her own website and be sure to checkout Business in Blue Jeans her latest book. Click Here to Subscribe in iTunes Follow us via Stitcher Listen in via RSS Ready to unleash YOUR Purpose? Sign up for our free weekly The Online Biz Workshop @ TheOnlineBizWebinar ________________________ The post Susan Baroncini-Moe appeared first on