Podcasts about toilet paper entrepreneur

This week on the Digitally Overwhelmed podcast I got to interview author and popular keynote speaker, Mike Michalowicz. I had so much fun interviewing Mike because he has so much wisdom to share about running your small business finance (among other things). Sometimes when it comes to “serious” topics like doing the finances in our business, it can be hard to find resources and frameworks that are motivating to follow. And all of Mike's books do exactly that: the inspire you to take action, but also give you some clear rules to follow.  In this conversation we talk about bringing comedy to the business world, depression in the entrepreneur community, and how he uses A/B testing in his business to make decisions. Mike Michalowicz 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, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur   Mike Website: http://www.mikemichalowicz.com/ Mike's IG: https://www.instagram.com/mikemichalowicz/   Mike's Books Profit First: https://profitfirstbook.com/ Clockwork: http://clockworkbymikemichalowicz.com/  Surge: http://surgebymikemichalowicz.com/ The Pumpkin Plan: http://pumpkinplan.com/ Toilet Paper Entrepreneur: http://toiletpaperentrepreneur.com/ http://digimorphs.com https://www.instagram.com/digimorphs/ Website Links: Full episode show notes for this episode: https://digitalbloomiq.com/podcastepisodes/mikemichalowicz-interview?rq=mike%20 Get email updates on all podcast episodes (+ SEO tips, behind the scenes, and early bird offers) : here: https://digitalbloomiq.com/email 90 Day SEO Plan: Your Dream Clients Booking You Overnight! Free webinar training here: https://digitalbloomiq.com/90dayseoplan More information about the podcast and Digital Bloom IQ: https://digitalbloomiq.com/podcast https://www.instagram.com/digitalbloomiq/ https://twitter.com/digitalbloomiq https://facebook.com/digitalbloomiq https://www.linkedin.com/in/cinthia-pacheco/ Voice Over, Mixing and Mastering Credits: L. Connor Voice - LConnorvoice@gmail.com Lconnorvoice.com   Music Credits:  Music: Kawaii! - Bad Snacks Support by RFM - NCM: https://bit.ly/3f1GFyN  

Send us a textMike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. And his latest, arguably most impactful discovery, is Fix This Next. In Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions).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 Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur. Join Matt and Mike as they discuss his recent best seller 'Fix This Next'.  Support the show

Acclaimed author and speaker Mike Michalowicz joins Steve as we confront the challenge of entrepreneurial poverty that plagues many in the legal profession. On this episode of Great Practice Great Life, we share practical strategies from Mike's book, “All In: How Great Leaders Build Unstoppable Teams,” revealing how attorneys can achieve financial success without sacrificing exceptional client service. Following his appearance at The Summit, through humor and engaging stories, including Mike's own experience as an expert witness, we discuss overcoming professional obstacles by embracing a mindset shift. Embarking on the journey from practicing lawyer to law firm owner is a pivotal decision that demands strategic delegation. We delve into fractionalization—where tasks are dissected and assigned—even those you love, to prevent the superhero complex of feeling irreplaceable. For trial lawyers and specialized roles, breaking down responsibilities into bite-sized pieces eases the transition and builds a thriving business. This chapter illuminates the path to sustainable growth by moving from doing to owning, paving the way for effective leadership and business success. Reimagining your professional identity can be the key to unlocking your potential. By shifting from being seen as just a lawyer to a shareholder of a legal business, we explore how this transformation fosters strategic thinking and empowerment within teams. The discussion extends to the critical role of community in the legal industry, highlighting the isolating nature of the profession and the need for collaboration among peers. Atticus is celebrated for nurturing an environment where lawyers gain strategic insights and mutual support, demonstrating that collective wisdom truly outshines individual efforts. Don't miss this discussion with Mike Michalowicz as he shares insights on mastering entrepreneurship for lawyers and creating an all-in team. In this episode, you will hear: Mike Michalowicz's transition from lawyer to law firm owner and mastering entrepreneurship Addressing entrepreneurial poverty in the legal profession and achieving financial success without sacrificing client service Strategic delegation and fractionalization to avoid the superhero complex and build a sustainable business Shifting professional identity from lawyer to shareholder of a legal business to foster strategic thinking and team empowerment The critical role of community and collaboration among legal professionals to overcome isolation Celebrating Atticus for providing a supportive environment for lawyers to gain insights and mutual support Encouraging mindset shifts to redefine legal practice and elevate personal and professional growth Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If there's a topic you would like us to cover on an upcoming episode, please email us at steve.riley@atticusadvantage.com. Supporting Resources: Mike Michalowicz website: mikemichalowicz.com Mike Michalowicz bio: mikemichalowicz.com/bio All In: How Great Leaders Build Unstoppable Teams: mikemichalowicz.com/all-in Get Different: mikemichalowicz.com/get-different Fix This Next: mikemichalowicz.com/fix-this-next-book Clockwork: mikemichalowicz.com/clockwork Profit First: mikemichalowicz.com/profit-first Surge: mikemichalowicz.com/surge The Pumpkin Plan: mikemichalowicz.com/pumpkin-plan The Toilet Paper Entrepreneur: mikemichalowicz.com/the-toilet-paper-entrepreneur My Money Bunnies: mymoneybunnies.com The Dream Manager by Matthew Kelly: www.amazon.com/Dream-Manager-Matthew-Kelly/dp/1401303706 The Path to a Great Practice & Great Life Workshop: atticusadvantage.mykajabi.com/the-path-to-a-great-practice-and-great-life-workshop-landing Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

In this episode of the Practice of Therapy Podcast, Mike Michalowicz dives into a transformative approach to the hiring process: recruiting workshops. Traditional interviews, as it turns out, have proven less effective than anticipated, with a mere 10% of candidates hired through this method turning out to be great performers within organizations. This often results in mishires and mismatches that hinder a company's growth. We explore how recruiting workshops can revolutionize talent acquisition, elevate organizational success, and foster a paradigm shift in hiring, emphasizing unproven abilities and task-centric talent matching. Join us for an eye-opening discussion on the future of effective hiring practices. Meet Mike Michalowicz By his 35th birthday, MIKE MICHALOWICZ (pronounced mi-‘kal-o-wits) had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became a small business 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. Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies to you. Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. In Fix This Next, Mike details the strategy businesses can use to determine what to do and in what order to ensure healthy, fast, permanent growth (and avoid debilitating distractions). Get Different will give you the tools to stand out in any market. 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 a business makeover specialist on MSNBC. Mike is a popular main-stage keynote speaker on innovative entrepreneurial topics and is the author of All In, Get Different, Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan, The Toilet Paper Entrepreneur, and My Money Bunnies. Resources Mentioned In This Episode Use the promo code "GORDON" to get 2 months of Therapy Notes free Start Consulting with Gordon The PsychCraft Network The Practice of Therapy Community Mental Health Wear TN Mike's Website Mike's Instagram Mike's Facebook Profit First All In: How Great Leaders Build Unstoppable Teams

Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. And his latest, arguably most impactful discovery, is Fix This Next. In Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions).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 Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur. Join Matt and Mike as they discuss his recent best seller 'Fix This Next'.  Support the Show.

Welcome to the What's Next! Podcast with Tiffani Bova.     This week, I'm bringing us back to a conversation with Mike Michalowicz.    Mike is an entrepreneur and author who launched three multimillion-dollar companies before his 35th birthday and was awarded New Jersey's SBA Young Entrepreneur of the Year award at the age of 26. He is the author of The Toilet Paper Entrepreneur, The Pumpkin Plan, Profit First, and now his latest boo, Clockwork.     THIS EPISODE IS PERFECT FOR… entrepreneurs who want to identify and amplify the seeds that make them unique, connect with a community that wants what they have to offer, and who wants to systematize their business to run like clockwork and scale to any size.     TODAY'S MAIN MESSAGE… this episode is all about the “Pumpkin Plan” and finding the seeds that will bring you colossal growth, as well as starting to put profit first and flipping your business plan on its head. Mike talks about focusing your passion and identifying the customer base that will keep you growing.    WHAT  I  LOVE  MOST… Mike's book Clockwork, which is all about designing your business and your career in such a way that you can remove yourself from the business system and trust that the cogs will continue to spin like clockwork.    Running time: 36:30   Subscribe on iTunes   Find Tiffani Online: Facebook Twitter LinkedIn   Find Mike Online: Website  LinkedIn    Mike's Book:   Clockwork

031. Profit First Professionals | Mike Michalowicz is founder of Profit First Professionals.  He's also the author of The Toilet Paper Entrepreneur, The Pumpkin Plan, Profit First, and Surge. His books have been translated into 10 languages. Profit First Professionals is an organization designed to support accountants, bookkeepers and other financial professionals to substantially differentiate themselves in the market - so they can dictate a premium for their services and attract more clients. *** For Show Notes, Key Points, Contact Info, Resources Mentioned, & the Fabulous 4 Questions on this episode visit here: Michael Michalowicz Interview. ***   Looking to sell your land in West Virginia? Connect with Bubba Land Company and experience the straightforward way to get top dollar for your property!

Today's guest is the entrepreneur behind 3 multi-million dollar companies, having founded and sold two of them before reaching his 35th birthday. He is a former small business journalist for The Wall Street Journal, and he is the author of “Profit First,” “The Pumpkin Plan,” and “The Toilet Paper Entrepreneur,” which BusinessWeek deemed “the entrepreneur's cult classic.” His books have been translated into over 10 different languages. A popular keynote speaker, he travels the globe as an entrepreneurial advocate, is an active partner in multiple companies, including an American manufacturer, a business growth consultancy, an augmented reality tech firm, and a certification organization for accountants, bookkeepers, and business coaching. He also created the Profit First Formula, a way for businesses large and small to ensure profitability from their very next deposit forward. Please join me in welcoming Mike Michalowicz. 

If you ever have the slightest intention to sell your business, understanding its value is crucial. Strategic pre-planning for the sale can enhance your value builder score so you sell at a premium multiple of earnings.   In today's discussion, Danielle delves into one of the eight key drivers to improve profitability: monopoly control. Following that, she will explain ten distinct strategies to attain monopoly control.    Whether you are contemplating an exit from your business now or eons from now, this episode is a must for every entrepreneur   IN THIS EPISODE: [01:21] What is the value of my business, how do I raise profitability, and what is monopoly control [06:24] Danielle shares ten ideas and strategies that will raise your profitability; however, be advised that you won't serve everyone when you are a monopoly of one [10:25] Rule One: Does your technology set you apart [14:27] Rule Two: Customization and personalization [16:07] Rule Three: Providing exceptional customer service [17:16] Rule Four: Package what you offer so that it cannot be price-shopped [20:18] Rule Five: Develop brand identity [21:46] Rule Six: Create a user experience [23:02] Rule Seven: Connecting with other partnerships and collaborations [25:02] Rule Eight: Position your business as the industry authority [27:56] Rule Nine: Use innovative marketing and selling strategies [29:03] Rule Ten: Trial periods and guarantees KEY TAKEAWAYS:  Always be conscious of driving the value of your business, especially when considering exiting the business. “Monopoly Control Strategies” such as education and knowledge sharing, innovative marketing and selling, and "done for you" services can significantly impact the valuation of a business. Achieving “Monopoly Control” is crucial for maximizing the price and margin in your business. Strategies such as branding, storytelling, and offering trial periods and guarantees can help businesses stand out in the market and dictate pricing. Connecting with customers through storytelling, sharing educational content, and offering personalized services. Building a strong brand identity and aligning with customer values can differentiate a business in the market.   Pre-Order ALL IN: How Great Leaders Build Unstoppable Teams https://www.amazon.com/All-Great-Leaders-Build-Unstoppable/dp/0593544501/ref=sr_1_1?keywords=all+in+mike+michalowicz&qid=1700164489&sr=8-1   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

In this episode of Profit First Nation, Danielle discusses the importance of relishing your ownership and maintaining a balance between personal and business finances.  She emphasizes the need to take ownership of key areas in your business to ensure long-term success.  These key areas include owning your day, owning your numbers, owning Profit First, owning leadership, and owning your role in the community. IN THIS EPISODE: [00:20] Danielle introduces the topic of "Relish Your Ownership" and the importance of enjoying business ownership while maintaining financial responsibility. [00:46] Personal Piggy Bank: Danielle warns against treating your business like a personal piggy bank, emphasizing the need for financial responsibility. [01:12] Five Key Areas of Ownership: Danielle outlines the five key areas of ownership: owning your day, owning your numbers, owning Profit First, owning leadership, and owning your role in the community. [03:07] Own Your Day: Danielle discusses the importance of starting your day with intention, following the Miracle Morning routine, and prioritizing tasks. [05:48] Own Your Numbers: Danielle stresses the significance of owning your sales numbers, forecasting, pipeline, accounts receivable, and accounts payable. [10:53] Own Your Financials: Danielle emphasizes the importance of reviewing income statements, balance sheets, and financial reports regularly. [12:21] Taxes and Payroll: Danielle highlights the need to own your business taxes and payroll, and the responsibility of the business owner to ensure accuracy. [18:15] Pricing: Danielle discusses the importance of owning your pricing strategy, regularly increasing prices, and focusing on profitability. [19:42] Profit First: Danielle advises business owners to own their Profit First allocation percentages and to take an active role in the allocation process. [22:17] Be a Leader: Danielle explains the role of business owners in leading clients, vendors, and employees with positivity and encouragement. [24:31] Community Involvement: Danielle suggests being cautious about community involvement when it might interfere with running your business effectively. KEY TAKEAWAYS:  Start each day with intention by following a morning routine that includes silence, affirmations, visualization, exercise, reading, and journaling. This sets the tone for a productive day and helps you prioritize important tasks. Own your sales numbers, forecasting, pipeline, accounts receivable, accounts payable, taxes, and payroll. Regularly review financial reports and ensure accuracy, as the business owner is ultimately responsible for these aspects. While it's essential to be a leader in your business, be cautious about overcommitting to community involvement, as it can consume valuable time and resources. Focus on activities that provide a significant return on investment for your business. ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website https://www.daniellemulvey.com/ Danielle Mulvey - Linkedin http://linkedin.com/in/danielle-mulvey-66a315 The All In Company - Website http://theallincompany.com Profit First Nation - Website http://profitfirstnation.com   Mike Michalowicz - Website http://mikemichalowicz.com Mike Michalowicz - Linkedin http://linkedin.com/in/mikemichalowicz Mike Michalowicz - Twitter http://mikemichalowicz

Episodes ending in 0 are Q & A sessions designed to help entrepreneurs operating their businesses in the zone of permanent profitability continue to thrive.   Danielle is excited to host a quiz edition to test your Profit First IQ. There are no scores today, but the correct answers to these questions determine your prowess to do Profit First right to make your business permanently profitable. Don't miss it!   IN THIS EPISODE: [00:57] Danielle has ten quiz questions today. Question one is: What is real revenue [3:07] Do owners who take a salary need a business compensation account [4:25] How do you pay as little as possible in taxes [7:57] Which account should you pay your taxes from [10:45] What do you do with money in your existing bank account when you open a business [12:15] Do we address debt by paying off the loans with the highest interest rate or use the snowball effect [14:31] Can the owner's compensation and tax account be combined into one account  [16:53] How do you calculate target allocation percentages [21:45] Do business owners need separate profit and owner's compensation accounts [23:29] At what point in time should I start Profit First for my business  KEY TAKEAWAYS:  Real revenue in Profit First is determined by subtracting materials and subcontractor costs from total revenue. Allocations and financial decisions are based on this real revenue number. Even if business owners take compensation as draws or distributions, Profit First recommends maintaining separate accounts for owner's compensation (acts like regular payroll) and profit (acts like a bonus). This separation ensures clarity and prevents the business from becoming a personal piggy bank.  Profit First can be implemented in businesses at any stage, even if they are not yet profitable. Starting early helps establish good financial habits, and the system can be adjusted as the business grows and becomes more profitable over time.   Pre-Order ALL IN: How Great Leaders Build Unstoppable Teams https://www.amazon.com/All-Great-Leaders-Build-Unstoppable/dp/0593544501/ref=sr_1_1?keywords=all+in+mike+michalowicz&qid=1700164489&sr=8-1   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

“To write a book that's effective, you have to know it's effective, first.” On this episode of Don't Write That Book, AJ Harper and Mike Michalowicz break down a common mistake authors of prescriptive nonfiction make: not taking their content for a test drive to ensure it actually is doable.They'll talk about how they've developed their process to build out action steps, identify gaps in their expertise and the reader's understanding, and implement a test drive to fine tune those action steps until there is no doubt they'll work.(They even throw in some bonus insider baseball knowledge about crucial steps in publishing many who opt to self-publish skip, steps that are a dead giveaway the author is a newbie.)Be sure to visit https://dwtbpodcast.com for more information and add your name to start receiving their newsletter. If you'd like to support this show, rate, subscribe and leave a review on your podcast app.Books/Resources Mentioned:Delight in the Limelight, by Linda Ugelow: https://a.co/d/451dei5Test Drive Your Content program: https://top-three-book-workshop.mykajabi.com/offers/eTgyWRGjConnect with AJ & Mike:AJ Harper: https://ajharper.comWrite A Must-Read: https://a.co/d/4H0xQ7GFree resources: https://writeamustread.comMike Michalowicz:Profit First:  https://mikemichalowicz.com/profit-first/Toilet-Paper Entrepreneur:  https://mikemichalowicz.com/the-toilet-paper-entrepreneur/All In: https://mikemichalowicz.com/all-in/Surge: https://mikemichalowicz.com/surge/Pumpkin Plan: https://mikemichalowicz.com/pumpkin-plan/Get Different: https://mikemichalowicz.com/get-different/Fix This Next: https://mikemichalowicz.com/fix-this-next-book/Clockwork: https://mikemichalowicz.com/clockwork/Mike Michalowicz resources: https://mikemichalowicz.comAll books: https://mikemichalowicz.com/books/Socials:  IG: https://www.instagram.com/mikemichalowicz/FB: https://www.facebook.com/MikeMichalowiczFanPage/LinkedIn: https://www.linkedin.com/in/mikemichalowicz/

In this ALL IN edition of Profit First Nation, Danielle welcomes Kelly Sullivan Ruta, a clinical psychotherapist turned coach, focused on building an unstoppable team by cultivating emotional agility.  Kelly shares insights into the concept of the Ultimate Inner Operating System, emphasizing the importance of skills like emotional agility and emotional intelligence in scaling a business via power skills. If you want to learn how to enhance your own emotional intelligence and empower your teams for success, this episode is for you.   TIMESTAMPS: [00:19] Introduction to the episode and guest, Kelly Sullivan Ruda. [03:31] Discussion on the importance of emotional agility when scaling a business and building a strong team. [04:50] Highlighting the impact of emotional agility on talent retention, stress reduction, and avoiding burnout. [06:47] Example of a company overcoming challenges through the development of emotional agility. [09:19] The significance of incorporating learning and development into an organization for employee satisfaction and business success. [14:13] Reframing soft skills as power skills and their measurable impact on business outcomes. [16:50] Distinguishing between emotional agility and emotional intelligence. [19:06] Connecting emotional intelligence to effective communication, problem-solving, and creating a positive workplace culture. [22:27] Emphasizing the importance of aligning team values and the positive outcomes it produces.  Key Takeaways: Developing emotional agility is a powerful tool for leaders and teams to navigate challenges, maintain resilience, and create a positive work environment. Reframe the terminology from "soft skills" to "power skills" to acknowledge the measurable impact these skills have on business outcomes, team performance, and overall success. Emotional intelligence is essential for leaders to connect on a deeper level with their teams, fostering a positive workplace culture, reducing turnover, and increasing employee satisfaction. Kelly Sullivan Ruta is a clinical psychotherapist of two decades who made a leap into the coaching world to help entrepreneurs create an ultimate inner operating system for scaling without breakdown.   Kelly believes entrepreneurs are perfectly positioned to create a massive positive impact on the planet. But she also knows that no strategy, plan, or tactic will ever outperform one's mindset, limiting beliefs, conditioned programs, or habits. She is obsessed with helping entrepreneurs do deep inner work while they scale and grow.   Resources: https://www.linkedin.com/in/kellyruta/  https://www.facebook.com/KellyRutaMentor  https://www.instagram.com/kellysruta/ https://kellyruta.com/ https://kellyruta.com/op/psw-audio-series/    Pre-Order ALL IN: How Great Leaders Build Unstoppable Teams https://www.amazon.com/All-Great-Leaders-Build-Unstoppable/dp/0593544501/ref=sr_1_1?keywords=all+in+mike+michalowicz&qid=1700164489&sr=8-1   ABOUT THE HOST: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $50 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website https://www.daniellemulvey.com/ Danielle Mulvey - Linkedin http://linkedin.com/in/danielle-mulvey-66a315 The All In Company - Website http://theallincompany.com Profit First Nation - Website http://profitfirstnation.com   Mike Michalowicz - Website http://mikemichalowicz.com Mike Michalowicz - Linkedin http://linkedin.com/in/mikemichalowicz Mike Michalowicz - Twitter http://mikemichalowicz Profit First Professionals - Website http://profitfirstprofessionals.com Mike Michalowicz - Books http://mikemichalowicz.com/books/

Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. He is the author of Fix This Next, an instant Wall Street Journal Bestseller, The Pumpkin Plan, Surge and The Toilet Paper Entrepreneur. His newest book, Get Different, teaches entrepreneurs how to creating marketing that can't be ignored. 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.     -   For the last 4 years, Real Estate Listings Coach Erica Fields has been obsessed with helping real estate agents from coast-to-coast create successful real estate careers with a focus on innovation, listings, and simple habits. Agents who have worked with Erica have achieved results like leaving their 9 - 5 's for full time real estate careers, increasing production from $3 million - $10 million in one year, and signing 7 listing contracts in 7 days. Before dedicating her full time career to the success of real estate agents Erica had over a decade of experience in a variety of sales roles, finding her home and passion in real estate.   -   This episode is sponsored by CanZell Realty. CanZell is one of the fastest-growing virtual/hybrid companies with a focus on providing local leadership, revenue share opportunities, and top technology for agents. Learn how you can keep more of your commission and sell more real estate at joincanzell.com   -   Join CanZell HERE: https://joincanzell.com/

On this episode of Don't Write That Book, AJ Harper and Mike Michalowicz focus on how they came to write Mike's best-selling book, Profit First, using the “reader first” method. They self-published the book as their publisher didn't believe it could sell and wanted them to write a different book entirely. (The book went on to sell over a million copies…) AJ and Mike explain how they came to understand what their readers needed after The Pumpkin Plan as opposed to the book the publisher pitched, then set out to write that book.In this episode, you'll learn that a must-read book not only must be compelling, but that it must deliver on its promise. They'll touch on using the Hero's Journey to not only keep the reader on the page, but how it can help authors structure their books and ultimately build trust.(You'll even get some insider baseball knowledge on how to accurately track book sales and some of Mike's gonzo methods for marketing!)Be sure to visit https://dwtbpodcast.com for more information and add your name to start receiving their newsletter. If you'd like to support this show, rate, subscribe and leave a review on your podcast app.Other Books Mentioned:The Coaching Habit, by Michael Bungay Stanier: https://boxofcrayons.com/boc/the-coaching-habit-book/Connect with AJ & Mike:AJ Harper: https://ajharper.comWrite A Must-Read: https://a.co/d/4H0xQ7GFree resources: https://writeamustread.comMike Michalowicz:Profit First:  https://mikemichalowicz.com/profit-first/Toilet-Paper Entrepreneur:  https://mikemichalowicz.com/the-toilet-paper-entrepreneur/All In: https://mikemichalowicz.com/all-in/Surge: https://mikemichalowicz.com/surge/Pumpkin Plan: https://mikemichalowicz.com/pumpkin-plan/Get Different: https://mikemichalowicz.com/get-different/Fix This Next: https://mikemichalowicz.com/fix-this-next-book/Clockwork: https://mikemichalowicz.com/clockwork/Mike Michalowicz resources: https://mikemichalowicz.comAll books: https://mikemichalowicz.com/books/Socials:  IG: https://www.instagram.com/mikemichalowicz/FB: https://www.facebook.com/MikeMichalowiczFanPage/LinkedIn: https://www.linkedin.com/in/mikemichalowicz/

It's not always sunshine and roses… On this episode of DWTB, AJ Harper and Mike Michalowicz discuss the challenges and lessons learned from their least successful book, Surge. How could this book tank, after the astronomical success of Profit First? (Hint: you'll find out!) You'll also hear about the mindset shifts they both had to make to keep working together because this episode details their never-before-spoken-about partnership break.(Spoiler alert: they got the band back together.)The failure of Surge reinforced for AJ and Mike that they must stick to their rules, or as AJ calls them, their Immutable Laws when writing transformational nonfiction. Listen to the episode to learn what some of those rules are!Be sure to visit https://dwtbpodcast.com for more information and add your name to start receiving their newsletter. If you'd like to support this show, rate, subscribe and leave a review on your podcast app.Other Books Mentioned:Profit First for eCommerce, by Cyndi Thomason: https://a.co/d/ca188rmMotherhood, Apple Pie and All that Happy Horseshit, by Cyndi Thomason: https://a.co/d/dxqaB6KThe War of Art, by Stephen Pressfield: https://a.co/d/bmeqF4bConnect with AJ & Mike:AJ Harper: https://ajharper.comWrite A Must-Read: https://a.co/d/4H0xQ7GFree resources: https://writeamustread.comMike Michalowicz:Profit First:  https://mikemichalowicz.com/profit-first/Toilet-Paper Entrepreneur:  https://mikemichalowicz.com/the-toilet-paper-entrepreneur/All In: https://mikemichalowicz.com/all-in/Surge: https://mikemichalowicz.com/surge/Pumpkin Plan: https://mikemichalowicz.com/pumpkin-plan/Get Different: https://mikemichalowicz.com/get-different/Fix This Next: https://mikemichalowicz.com/fix-this-next-book/Clockwork: https://mikemichalowicz.com/clockwork/Mike Michalowicz resources: https://mikemichalowicz.comAll books: https://mikemichalowicz.com/books/Socials:  IG: https://www.instagram.com/mikemichalowicz/FB: https://www.facebook.com/MikeMichalowiczFanPage/LinkedIn: https://www.linkedin.com/in/mikemichalowicz/

Welcome to the first episode of Don't Write That Book, where AJ Harper and Mike Michalowicz will share their journey as authors, with plenty of tips and earned wisdom from their decade and change of co-writing best-selling books together.In this episode, they'll talk about the mindset shift that they wish all authors would make, from thinking a book is only a “better business card” to knowing that it requires time and careful consideration to write a must-read, a book that can truly change a reader's life. You'll also hear about how they met and started writing game-changing books.They'll share their fundamental belief that if the reader is the focus, it can answer every question you have about writing a transformational book. From this core value, they'll explain how this helps authors meet their reader where they are. You'll learn how the “reader first” mindset can help writers filter content and draft a transformational outline, and even help in marketing.Be sure to visit https://dwtbpodcast.com for more information and add your name to start receiving their newsletter. If you'd like to support this show, rate, subscribe and leave a review on your podcast app.Books Mentioned:Ramit Sethi's I'll Teach You How to be Rich: https://a.co/d/g0nK8LSRick Rubin's The Creative Act: https://a.co/d/bf02xBcConnect with AJ & Mike:AJ Harper: https://ajharper.comWrite A Must-Read: https://a.co/d/4H0xQ7GFree resources_:_ https://writeamustread.comMike Michalowicz:Profit First:  https://mikemichalowicz.com/profit-first/Toilet-Paper Entrepreneur:  https://mikemichalowicz.com/the-toilet-paper-entrepreneur/All In: https://mikemichalowicz.com/all-in/Surge: https://mikemichalowicz.com/surge/Pumpkin Plan: https://mikemichalowicz.com/pumpkin-plan/Get Different: https://mikemichalowicz.com/get-different/Fix This Next: https://mikemichalowicz.com/fix-this-next-book/Clockwork: https://mikemichalowicz.com/clockwork/Mike Michalowicz resources_:_ https://mikemichalowicz.comAll books: https://mikemichalowicz.com/books/Socials:  IG: https://www.instagram.com/mikemichalowicz/FB: https://www.facebook.com/MikeMichalowiczFanPage/LinkedIn: https://www.linkedin.com/in/mikemichalowicz/

In this episode, Danielle is joined by Mike Michalowicz, the author of Profit First, as they tackle questions from Mike's email inbox regarding doing your Instant Assessment. In addition to highlighting the importance of adhering to established profit percentages as a business grows, they provide additional guidance to another business owner to use the Profit First Target Allocation Percentages Chart for financial clarity, and help yet another entrepreneur on how to simplify income and expense categorization.  BONUS: Danielle provides additional valuable insights, emphasizing the significance of sales and providing practical pricing strategies for service-based businesses. IN THIS EPISODE: [00:36] Introduction to Episode - Q&A about instant assessments [00:47] Question 1 - Real revenue calculation for a fitness equipment distributor [04:10] Question 2 - Owner's comp and adjusting allocation percentages as the business grows [07:40]Question 3 - Challenges in understanding real revenue for a telehealth business [15:36] Question 4 - Calculating materials and subs for a plumbing business [21:27] Question 5 - Allocating expenses for an Airbnb management business KEY TAKEAWAYS: For businesses with significant material costs, especially those exceeding 10% of gross revenue, it's crucial to make a real revenue adjustment. Subtracting these costs gives a more accurate picture of the service-based real  revenue generated. As a business grows or experiences changes, adhere to the Target Allocation Percentages Chart, but be open to dynamic adjustments. Working with a Profit First professional helps in recalibrating allocations based on the current business status. Keep expense categorization simple. Break down costs transparently for customers when necessary, allowing for better communication and potentially higher acceptance of fees. If managing multiple entities, maintain clarity by treating each business separately. ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Hiring System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

248: All Roads Can Lead to Profit Today, I am excited to offer you a replay of an episode that I did back in 2018 with Mike Michaelowicz. You may know Mike, he is the author of a large number of books from Profit First to Clockwork to Surge, The Toilet Paper Entrepreneur , and The Pumpkin Plan. Mike and I had a really awesome conversation about how all roads can lead to profit if you set the correct coordinates. I really thought that as we're wrapping up this year, things have been shifting, they're a little bit different, we've been through a pandemic, and we've watched buying patterns change over the years and I think this is a great time to be reminded of the fact that we have agency and choice in our business and that those choices that we're making either lead us closer towards profit or further away from profit. With that being said, I want to introduce to you Mike Michaelowicz. Topics Mentioned: Profit  Real revenue  Sustainability and Responsibility  Ideal Clients and Target Markets    Thoughts from Mike:  Profit means that I continue to deliver what I intend to for my community.     Clients want to know that your business is sustainable and sustainability is profitability.     It is important to have a realignment of pride in profits.     In The Toilet Paper Entrepreneur we learn that lack is our biggest advantage. Lack brings about innovative thinking and challenges us.     In Pumpkin Plan we learn how to grow organically and healthily and to identify our best clients.     Once we have clarity on a purpose, the journey becomes very rewarding.     Surge teaches how to know your industry and to see what the next big thing is.     Clockwork teaches that our business can be sustainable and not reliant just on us.  Contact Michele: Email: Team@ScarletThreadConsulting.com Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Mike: Website: https://mikemichalowicz.com/ Twitter: https://twitter.com/MikeMichalowicz Facebook: https://MikeMichalowiczFanPage/ References and Resources: The Toilet Paper Entrepreneur by Mike Michaelowicz The Pumpkin Plan by Mike Michaelowicz Profit First by Mike Michaelowicz Surge by Mike Michaelowicz Clockwork by Mike Michaelowicz E-Myth Revisited by Michael Gerber CFO2Go Work with Me Metrique Solutions Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion”

In this episode of Profit First Nation, Danielle discusses the importance of the "Switzerland Structure" in your business.  The Switzerland Structure is about avoiding over-dependence on a single customer, employee, or vendor to ensure the long-term success and profitability of your business.  Danielle emphasizes the need for diversification, customer value analysis, employee cross-training, and vendor audits.   IN THIS EPISODE: [00:27] Introduction to the podcast and the topic of the "Switzerland Structure." [02:38] Explanation of why it's crucial not to be overly dependent on one customer, employee, or vendor. [08:14] The Pareto Principle applied to customer diversification. [12:04] Avoiding over-dependence on a single employee by cross-training and ensuring no one is a linchpin. [17:57] Conducting a vendor audit to prevent over-reliance on one supplier and keeping incentives in check. [21:54] Encouragement to submit questions and information on how to connect with certified Profit First professionals.   KEY TAKEAWAYS:  Don't rely too heavily on one customer. Diversify your customer base to ensure steady income and reduce risk. Prevent over-dependence on a single employee by cross-training your team, ensuring others can cover their responsibilities. Regularly review your vendor relationships and consider incentives carefully to maintain a healthy balance between quality and cost.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website https://www.daniellemulvey.com/ Danielle Mulvey - Linkedin http://linkedin.com/in/danielle-mulvey-66a315 The All In Company - Website http://theallincompany.com Profit First Nation - Website http://profitfirstnation.com   Mike Michalowicz - Website http://mikemichalowicz.com Mike Michalowicz - Linkedin http://linkedin.com/in/mikemichalowicz Mike Michalowicz - Twitter http://mikemichalowicz Profit First Professionals - Website http://profitfirstprofessionals.com Mike Michalowicz - Books http://mikemichalowicz.com/books/

In this episode of Profit First Nation, host Danielle Mulvey reveals her seven key principles that she consistently applies to her business operations. She shares personal anecdotes and practical examples to illustrate her modus operandi.    Danielle underscores the value of these principles in her own journey as an entrepreneur and how they have contributed to her success, providing valuable insights for entrepreneurs seeking sustained profitability.   IN THIS EPISODE:   [00:53] Introduction to Danielle's six modus operandi. [01:31] Modus Operandi 1: All of us are smarter than one of us. [03:19] Modus Operandi 2: Why don't airplanes fall out of the sky? [09:13] Modus Operandi 3: One teaspoon at a time. [11:10] Modus Operandi 4: 50 times - Who says it the most wins? [16:41] Modus Operandi 5: Care and feed your employees like they are your children. [19:24] Modus Operandi 6: Freedom and flexibility for all. [23:37] Modus Operandi 7: "Seize the day and your daily huddle. KEY TAKEAWAYS:   "All of us are smarter than one of us." Danielle emphasizes the importance of collaboration and surrounding yourself with smart people both within your team and in your network. Working together and seeking diverse perspectives can lead to better outcomes in business.  Danielle highlights the significance of using checklists in your business operations. Drawing inspiration from the aviation industry, where pilots follow checklists to ensure safety and consistency, she encourages business owners to adopt checklists to enhance efficiency, consistency, and reduce errors. Treat your employees with the same level of care and support as you would your own children. By providing a sense of safety and appreciation, your employees can thrive, which in turn leads to a better work environment and greater success.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website  Danielle Mulvey - Linkedin  The All In Company - Website  Profit First Nation - Website    Mike Michalowicz - Website  Mike Michalowicz - Linkedin  Mike Michalowicz - Twitter  Profit First Professionals - Website  Mike Michalowicz - Books 

We welcome back the ever-popular Billie Anne Grigg, Profit First Professional's Chief Profit Guide. Together, Danielle and Billie Anne dive into the intriguing world of "above the line" expenses within the Profit First framework. The episode covers above-the-line expenses, such as materials, subcontractor costs, pass-through expenses, franchise fees, and more.  They also emphasize the importance of understanding your financial numbers and owning allocation day to achieve permanent profitability. IN THIS EPISODE: [00:55] - Explanation of "above the line" expenses and real revenue. [01:47] - Common mistakes made with above-the-line expenses. [03:27] - Handling W-2 employees and commissions. [06:16] - The importance of pass-through expenses. [06:56] - Managing franchise fees. [07:50] - The role of a deposit account in organizing expenses. [09:00] - Simplifying allocation day using a spreadsheet. [12:19] - The freedom and clarity Profit First brings to managing finances. [14:02] - Success stories of large businesses implementing Profit First. KEY TAKEAWAYS: Above-the-line expenses should be items directly tied to revenue, such as materials, subcontractor costs, pass-through expenses, and franchise fees. These should be deducted from total revenue before determining real revenue. Profit First simplifies financial management by reducing the need for complex budgets and allowing you to focus on one key number – the total amount available for allocation. Profit First is not just for small businesses; it's essential for large businesses, especially due to the complexities involved in managing cash flow and expenses. The principles of Profit First can benefit businesses of all sizes.   GUEST BIOGRAPHY: Billie Anne Grigg   Billie Anne has been a bookkeeper since before the turn of the century. She is a QuickBooks Online ProAdvisor, LivePlan Expert Advisor, FreshBooks Certified Partner and a Mastery Level Certified Profit First Professional. She is also a guide for the Profit First Professionals organization. In 2012, she started Pocket Protector Bookkeeping, a virtual bookkeeping and managerial accounting service for small businesses.   Billie Anne Grigg - Linkedin  Pocket Protector Bookkeeping - Website    ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

How often have you hired someone only to discover they were a “Mis-Hire.”  Today's episode of Profit First Nation is about hiring mistakes that could have been avoided. Danielle gives examples of failed hirings and the points the interviewer overlooked on the candidate's resume or in the interview.  Don't miss these red flags when you conduct your next job interview. They will save you time and money.   IN THIS EPISODE: [00:20] Danielle explains how to go “all-in” on building a stable of five-star employees [03:30] Danielle offers a resource form on their website profitfirstnation.com/144 to be completed to analyze mis-hires from the past [07:02] Example of an individual who had multiple jobs and had to drive 40 miles to work [14:27] Example of an employee who only wanted to work remotely [18:23] Example of an employee let go because of poor work and the potential that a supervisor may be chasing away employees [23:27] An Example of an employee who leaves a prominent company for a company that is not well-known and making sure the employee is qualified to do the job [28:32] In some industries, the skills need to be current with current apps and programs KEY TAKEAWAYS:  Payroll is most likely your business' biggest expenses if you have seven or more employees. Most businesses have a 75% mis-hire rate versus only a 10% rate if you use the ALL IN Hiring System. A study of your mis-hires will prevent you from making the same mistakes.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

Join Danielle in this episode as she unlocks the secrets of pricing for business success!    From pricing's impact to the pitfalls of arbitrary pricing, this episode is your golden ticket to wealth-building, with the five principles for pricing triumph.   Ensure you seize the opportunity to connect with Profit First Nation for continuous support, as your business success is the ultimate gem on this journey! TIMESTAMPS: [05:26] Discussion on the impact of pricing on business success and profitability. [12:10] The role of pricing in customer acquisition, experience, and retention. [15:00] Importance of building wealth through profitability and business resilience. [20:02] Warning against arbitrary pricing, starting at the bottom, and real-life examples of failures. [25:20] Five principles for effective pricing, ROI justification, and recap of optimization steps. [28:16] Closing thoughts on getting pricing right for long-term business success. [29:00] Invitation to connect with Profit First Nation for support and questions.   KEY TAKEAWAYS: Pricing controls everything in the marketplace, affecting profit, power, customer acquisition, customer experience, customer retention, and overall business wealth. Businesses should avoid the pitfalls of low pricing strategies, which can lead to extinction in the market. Pricing strategy should align with business goals and customer value rather than aiming to be the lowest price leader. The five principles for effective pricing include understanding true costs, eliminating unprofitable offerings, pricing at a premium, packaging minimally viable products, and demonstrating ROI. Demonstrating ROI is a crucial step to justifying premium pricing, showcasing the value customers receive in exchange for their investment. Real-life examples illustrate the impact of pricing on business success and failure. Connecting with Profit First Nation provides a resource for entrepreneurs to optimize their pricing strategies and achieve permanent profitability.   ABOUT THE HOSTS: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website  Danielle Mulvey - Linkedin  The All In Company - Website  Profit First Nation - Website    Mike Michalowicz - Website  Mike Michalowicz - Linkedin  Mike Michalowicz - Twitter  Profit First Professionals - Website  Mike Michalowicz - Books 

How can you significantly increase your business' value? In the latest Profit First Nation episode, Danielle shines a spotlight on the pivotal strategy of steering clear of the central hub role.    Exploring the adverse effects on business valuation when entrepreneurs find themselves at the epicenter for their employees, customers, and suppliers.   Danielle encourages entrepreneurs to proactively declare a future four-week vacation, setting the wheels in motion to diminish dependency on their presence.  It's a journey toward permanent profitability and max valuation by breaking free from the hub and spoke model.   IN THIS EPISODE: [01:00] : Discussion on business valuation and the average multiples. [02:48]: Exploring the concept of "hub and spoke" and the negative impact of being the central hub. [10:00]: Strategies for removing oneself from being the hub, focusing on employees. [13:16]: Tips on documenting standard operating procedures (SOPs) and delegation. [14:09]: Impact of owner involvement in customer relationships on business valuation. [15:30]: Valuation statistics based on knowing customers by their first name. [17:57]: Prioritizing steps to disconnect from being the hub for employees, suppliers, and customers. [22:01]: The importance of finding the right people and a Mike Michalowicz upcoming book "All In: How Great Leaders Build Unstoppable Teams"   KEY TAKEAWAYS:   Entrepreneurs are encouraged to declare a future four-week vacation and use it as a catalyst to make their businesses less dependent on them. This involves strategic planning to disconnect from being the central hub. The importance of prioritizing disconnection from being the hub for employees. Delegating tasks and responsibilities while ensuring employees take ownership can contribute to business value.  Knowing customers by their first name may negatively impact business valuation. Encouraging strong employee-customer relationships and minimizing personal involvement can lead to a higher valuation.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

A well-structured schedule is essential to achieve permanent profitability in your business.  In this episode, Danielle gives a picture-perfect, ideal schedule of successfully managing her time across her multiple companies, and her team members.  Once you have mastered the ideal schedule, she unveils eight sure-fire tips to enhance the Vitamin SEE within your organization. If you are still trying to figure out what Vitamin SEE entails, this podcast will help you seas the day and keeping your business on course to permanent profitability.    SHOW NOTES: [00:21] Being a proactive, profitable entrepreneur and avoiding operating in reactive, it's too late, mode  [03:52] Creating the ideal schedule for your week, Danielle shows a sample schedule that works for her [13:53] Danielle describes Vitamin SEE and how it has helped the business of All In and how this is for 5-star employees [18:14] Rapid fire: Eight tips for solidifying the Vitamin SEE in your organization – a non-negotiable [23:43] Danielle encourages listeners to follow the eight tips outlined in this episode KEY TAKEAWAYS:  A business owner will be more successful if they work intentionally from a schedule so one doesn't waste time. You should always tell employees you appreciate their accomplishments when they accomplish their goals. Don't allow anything or anyone to hijack your schedule. Your schedule is that critical.     ABOUT THE HOSTS: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

En este episodio tenemos un super invitado de honor, un invitado MUY ESPECIAL, Mike Michalowicz autor Best Seller especialista en Pymes quien nos estará platicando de su revolucionario libro Fix This Next. Mike es un autor único y peculiar, de entrada, porque él mismo ha sido un emprendedor toda su vida pero además tiene la capacidad de desarrollar metodologías prácticas y muy poderosas para ayudar a emprendedores y Pymes a ser exitosos. Ha escrito libros como The Toilet Paper Entrepreneur, The Pumpkin Plan, Profit First, Surge, Clock Works. Fue ganador del premio del SBA (Small Business Administration) como emprendedor del año cuando tenía 26 años. Vendió sus primeras 2 empresas la 2a a una de las 500 empresas más grandes de EUA. La revista BusinessWeek nombró al libro de Mike como un "libro que todos los emprendedores y dueños de PYME deberían de leer". Fué el anfitrión en un programa de la MSNBC llamado "Business Makeovers". Ha escrito para publicaciones como The Wall Street Journal, revista Entrerpreneur, entre otras. Los libros de Mike han sido traducidos a más de 10 idiomas. Ha dado conferencias en más de 10 países del mundo y en universidades, organizaciones de emprendedores, etc.  Adquiere en Amazon el libro de Estimado Emprendedor el cual está teniendo su lanzamiento en México y Latinoamérica: https://amzn.to/3lJQAsvAgenda el diagnóstico de tu empresa con uno de nuestros asesores. Como lo comentamos en el Podcast este diagnóstico tiene un precio regular de $8,500 (USD 400 aprox.) pero por tiempo limitado vamos a ofrecer este diagnóstico GRATIS a los primeros que agenden. Tenemos espacios limitados por ser gratuito: https://helpicoaching.com/forma-diagnostico-podcast-el-emprendedor-espiritual/ Escríbenos a ayuda@helpimentoring.com mencionando el episodio y la herramienta que ofrecimos para que te la enviemos de regalo. Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast.  INSTAGRAM: https://www.instagram.com/elemprendedorespiritual/ FACEBOOK: https://www.facebook.com/elemprendedorespiritual/ TWITTER: https://twitter.com/elemprendedore1 Te comparto además el link que mencionamos en el episodio de nuestro patrocinador helpi Mentoring: www.helpicoaching.com/podcast/emprendedorespiritual Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestro programa helpi COACHING PREMIUM que incluye el acompañamiento de un Coach. Es el mejor momento para tener ayuda externa calificada, que te ayude a enfocarte y tener una visión de fuera y más objetiva sobre tu empresa. Si estas interesado mándanos un mail a ayuda@helpimentoring.com 2. Con nuestro programa On-line. Si crees que no estas listo para nuestro programa PREMIUM con el acompañamiento con un Coach, tenemos nuestro programa On-line. Si estas interesado mándanos un mail a ayuda@helpimentoring.com 3. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Regularmente hacemos entre 2 y 3 Master Class al mes. 4. Con nuestros Facebook Live gratis. https://www.facebook.com/helpimentoring 5. Con nuestro grupo de Facebook de acceso a nuestros Coaches gratis. https://www.facebook.com/groups/helpicoachingcoaches/ 6. Con nuestro blog quincenal que enviamos por mail y publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.

Danielle delves into dissecting 10 misconceptions or fallacies surrounding Profit First.    This cash management strategy isn't intended to function autonomously; instead, it's meant to be applied meticulously, adhering to its principles.    Fragmented utilization is not its intended approach.    In this episode, Danielle outlines ten instances of business owners misapplying or misconstruing Profit First. Be sure to revisit this episode for a great “how-to” reference.   IN THIS EPISODE: [00:17] Danielle outlines the ten myths or misunderstandings about Profit First. #1 What is the purpose of Profit First [03:34] #2 Slashing expenses to the bone [08:16] #3 Adjusting your allocations over time [11:33] #4 Treating Profit First as a one-size-fits-all system [14:12] #5 Neglecting taxes [16:37] #6 Misinterpreting the no-budget concept [18:09] #7 Don't rely totally on percentages [19:58] #8 Profit First is not a quick fix [22:44] #9 Confusing your accounts [25:13] #10 Ignoring behavioral change KEY TAKEAWAYS: A business without profit will not last. Profit First is a cash management system that keeps your cashflow on track. Profit First is not a set it and forget it system. You need to adjust your allocations at the start of each quarter and adjust as your real revenue increases to the next level of target allocations If you don't follow Profit First to the letter, you aren't doing Profit First right.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

Danielle may hit a nerve or two in this episode when she highlights the RED FLAGS you cannot ignore when it comes to making 5-Star Employee Hires.    For most businesses, PAYROLL is your biggest expense and can be a significant drain on your profitability when you make a hiring mistake.    When your payroll is full of average, ho-hum, or worse employees – you need more labor at more expense to do the work that just one 5-Star Employee can accomplish.    Remember: If 5-Star Employees represent the top 15% of available talent – then statistically speaking, you will need to filter out 6 out of every 7 candidates to get that top 15% candidate.    You have to raise your RED FLAG alert level to max as you take candidates through your hiring gauntlet.     In this episode, Danielle lists multiple warning signs that HR professionals and business owners engaged in the hiring process should embrace.    Take notes to seeing and eliminating candidates based on critical candidate "RED FLAGS.”   IN THIS EPISODE: [00:21]  Danielle goes all in on hiring employees today [04:03] Red Flags- Working less than one year at multiple recent employers and exaggeration of duties and responsibilities [05:38] Red Flags- If their formal education is in an unrelated field from what you are looking for and their resume suggests a double employment history  [07:05] Red Flags- Grammar and punctuation errors and specific fields and industries Danielle would never hire from [10:05] Fields and industries we want to hire from [13:21] Danielle shares case histories [20:19] Danielle compares part-time employees to children and gives more examples of red flags [24:08] Danielle gives a fast overview of today's episode   KEY TAKEAWAYS: In today's market, working long-term in a company can be defined as working two years or more in the same company. There are industries you should avoid when looking to fill a position because they represent fields where there isn't urgency involved in their job. If a person can't correct errors in their resume, they are not the type of person you want to hire.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

Mike Michalowicz shares the microphone with Danielle and responds to questions from listeners just like yourself. Listen in to understand his innovative, time-tested approaches to successfully managing a business in the zone of permanent profitability.  Furthermore, Mike delves into the importance of enlisting a Profit First-Certified Accountant, Bookkeeper or Coach.. Stay tuned until the end of this episode for an exciting announcement Mike will share.   IN THIS EPISODE: [00:39] Question One. Should I add a retirement account to my hidden account, and how to set up a retirement account [05:40] Question Two. Can I make an exemption to Profit First [07:35] Question Three. What is the owner's pay? Is it the CEO's salary, and why is the allocation 50% [10:07] Question Four.  Do shareholders of a business all get compensated the same [12:05] Question Five. Can you skip the profit and tax accounts at your primary bank and transfer from income to profit hold and tax hold at my inconvenient bank [15:06] Wild card questions for Mike regarding working with a Profit First Bookkeeper [20:49] Mike celebrates that Profit First is in 28 languages now   KEY TAKEAWAYS:  Over 50% of businesses don't last five years. Profit First Accountants and Coaches are in different towns than the client because they are industry-based, not location-based.  To effectively implement the Profit First System, adhering to each step is crucial. If you find yourself making exceptions, you are not following the Profit First principles.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into twenty-eight languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

What if you could implement a cash management system today that guarantees profitability, automatically sets aside money for tax season, and ensures you don't overspend on expenses? In this episode, Hala is joined by Mike Michalowicz to break down Profit First, the cash management system that has helped hundreds of thousands of small business owners increase their profits, or generate a profit from day one. 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: - What happens when you constrain a resource - How to think of profit as a habit - The value of practicing fund preallocation - The five bank accounts every small business owner needs - The difference between an ownership salary and profit - How much money should you put toward profit? - Why you should compress your operating expenses - How to pay off debt - How Relay can help you implement profit first with ease - 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 multimillion-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 a 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: Relay: https://relayfi.com/profiting 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 ‘podcast' for 30% off at yapmedia.io/course. 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

Danielle delves into a comprehensive process comprising eight steps for transforming your service or product into a marketable offering.  These steps are universally applicable to a wide array of services or products. By implementing these steps in your business, you'll gain clarity and direction and, most importantly, establish a fresh source of revenue.  Through illustrative examples and explanations, she presents the information in an easily understandable way. Get ready to take notes, as this episode is a must-watch to ensure your business grows as it could.   IN THIS EPISODE: [00:20] Danielle explains Productization and the eight steps to create a new revenue stream [03:49] Step One: Niche down by focusing on a specific audience in 5 different ways [09:20] Step Two: Find your TVR [11:31] Step Three: Defining your quarter-inch hole [12:20] Step Four: Branding is important [13:35] Step Five: List your ingredients [14:51] Step Six: Pre-empt objections [17:14] Step Seven: Pricing Danielle gives examples of pricing [23:15 Step Eight: Manufacture scarcity KEY TAKEAWAYS:  Don't just pick a price out of the air for your service or product. Do research to explore what it is worth.  Speed can be a factor in increasing your pricing. Pricing can also be done on a sliding scale. Don't be afraid to raise your prices. Creating excitement and scarcity creates profits.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

Robert Leonard brings back Mike Michalowicz to discuss entrepreneurship and marketing tactics, why having no money or experience actually gives someone a shot at their business working, why a business plan is a waste of time, and a bunch more.Mike Michalowicz is a serial entrepreneur who had founded and sold two multi-million dollar companies by the age of 35.IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro26:18 - How someone can get their very first customer, who isn't a friend or family member.31:24 - Why most businesses and people's marketing plans fail.32:45 - Why copying best practices from your competition almost guarantees your marketing will go unnoticed.35:51 - The breakdown of the idea of the DAD or D-A-D framework.45:40 - If Mike was able to go back to before he started his first two successful companies, or even if he is to launch a brand new business today, what he would use that he knows now that he didn't know back then that would increase the speed and probability of his businesses' success.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESRelated episode: Listen to MI043: Blueprint for Entrepreneurship w/ Mike Michalowicz, or watch the video.Mike Michalowicz's Go Get Different website.Mike Michalowicz's books Get Different, Profit First, The Pumpkin Plan, Clockwork, Fix This Next, The Toilet Paper Entrepreneur, and Surge.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Learn how Principal Financial can help you find the right benefits and retirement plan for your team today.Be confident that you'll be small businessing at your best with support designed to help you reach your goals. Book an appointment with a TD Small Business Specialist today.Enjoy an all-in-one personal finance app that gives you a comprehensive view of all your accounts, investments, transactions, cash flow, net worth, and more, with Monarch Money. Get an extended thirty-day free trial today.Your home might be worth more than you think. Earn extra money today with Airbnb.Make investing in Short Term Rentals aka Air-BNBs simple, passive, and profitable with Techvestor. Listeners of Millennial Investing get better terms by just mentioning "Millennial Investing!" Sign up and book your call with their Investor Relations Team to get started today.Get a customized solution for all of your KPIs in one efficient system with one source of truth. Download NetSuite's popular KPI Checklist, designed to give you consistently excellent performance for free.Support our free podcast by supporting our sponsors.Connect with Mike: Website |Instagram| FacebookConnect with Robert: Website | Twitter | InstagramSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Host Danielle Mulvey shares critical information on your bottom line! How do we increase profitability?  In one or both of two ways because the only two ways are to increase margin and / or decrease expenses.  Payroll often represents the largest expense in many businesses. Your average, ho-hum or worse employees who are collecting a paycheck and doing little to nothing to earn that paycheck are killing your profitability!!!   In this episode, Danielle outlines four reasons why some employees simply need to be shown the door. Furthermore, she streamlines your task by offering guidance on how to engaging with such staff when it is time to let them go..  Ensure you catch this content-rich episode for invaluable knowledge. IN THIS EPISODE: [01:20] Danielle reminds listeners payroll might be their largest line item [01:48] Danielle outlines the four reasons to let someone go [07:31] What is a “working at-will state,” and do you need to document reasons for firing [11:47] How do you let someone go [14:30] Do you pay severance and you must know the requirements of your state [15:56] Performing the post-mortem [24:33] Statistics regarding hiring decisions and news about pre-ordering Mike's new book from Amazon  KEY TAKEAWAYS:  If several failed hires come from the same background, that is a red flag toward that school or set of circumstances. Always stand and have the employee stand when you let them go to expedite the departure. Practice makes perfect when it comes to interviewing and making a final selection   ABOUT THE HOSTS: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $50 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

Danielle and Cyndi Thomason, an expert certified in Profit First at the mastery level and the author of Profit First for E-commerce Sellers, explore the critical role of inventory in determining the success of your business. Cyndi shares valuable techniques for managing inventory levels and emphasizes the importance of maintaining distinct accounts. They will also investigate the advertising budget, highlighting the recommended percentage allocation for this aspect. This episode offers valuable insights and practical advice for ensuring the profitability of your business.   IN THIS EPISODE: [01:27] Cyndi talks about why inventory can be a serious pitfall for a business, why you need an inventory account [08:51] Looking at  each product you sell to determine how to price  [11:39] Cyndi shares the importance of inventory days and getting creative to move stale inventory  [15:39] She explains why  inventory cash flow is different from your operating expenses and the part advertising can play if not managed well [19:27] Pay attention to the return on their advertising spend and how to figure the percentage you should spend [26:45] Cyndi shares the downfall of integrating your accounting system with your inventory  KEY TAKEAWAYS:  The key to operating a business where inventory is involved is to allocate funds so you don't have to borrow money to buy stock. Sales are lost when you run out of inventory. Good record-keeping through accounts prevents that from happening. Be very careful of how much you spend on advertising.  It is an expense that can quickly get out of hand.   GUEST BIOGRAPHY: Cyndi Thomason, author of Profit First for Ecommerce Sellers, is a Certified Master Profit First Professional, and the founder and president of bookskeep, a virtual company that provides bookkeeping and Profit First consulting services to ecommerce clients all over the world. Cyndi devotes much of her time speaking at various events such as ASD Market Week, ProfitCon, Marketplace Brand Accelerator Training, the Ecommerce Business School and other webinars, teaching ecommerce businesses how to implement the Profit First method. She has contributed to publications such as Skip McGrath s Online Seller s Resource and is a regular contributor to The Private Label Insider and the Inventory Lab newsletter. Honors and awards include Profit First Member of the Year 2016, Profit First Go-Giver 2017, and one of the Top 50 Women in Accounting Award 2018, presented by Practice Ignition. Cyndi is a master gardener and enjoys being surrounded by nature, spending time with family, friends and a menagerie of fur babies. Bookskeep -Website https://www.bookskeep.com/ Cyndi Thomason - Website https://www.bookskeep.com/about/cyndi-thomason/   ABOUT THE HOSTS: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website https://www.daniellemulvey.com/ Danielle Mulvey - Linkedin http://linkedin.com/in/danielle-mulvey-66a315 The All In Company - Website http://theallincompany.com Profit First Nation - Website http://profitfirstnation.com   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books    

Danielle and Cyndi Thomason, an expert certified in Profit First at the mastery level and the author of Profit First for E-commerce Sellers, explore the critical role of inventory in determining the success of your business. Cyndi shares valuable techniques for managing inventory levels and emphasizes the importance of maintaining distinct accounts. They will also investigate the advertising budget, highlighting the recommended percentage allocation for this aspect. This episode offers valuable insights and practical advice for ensuring the profitability of your business.   IN THIS EPISODE: [01:27] Cyndi talks about why inventory can be a serious pitfall for a business, why you need an inventory account [08:51] Looking at  each product you sell to determine how to price  [11:39] Cyndi shares the importance of inventory days and getting creative to move stale inventory  [15:39] She explains why  inventory cash flow is different from your operating expenses and the part advertising can play if not managed well [19:27] Pay attention to the return on their advertising spend and how to figure the percentage you should spend [26:45] Cyndi shares the downfall of integrating your accounting system with your inventory  KEY TAKEAWAYS:  The key to operating a business where inventory is involved is to allocate funds so you don't have to borrow money to buy stock. Sales are lost when you run out of inventory. Good record-keeping through accounts prevents that from happening. Be very careful of how much you spend on advertising.  It is an expense that can quickly get out of hand.   Cyndi Thomason, author of Profit First for Ecommerce Sellers, is a Certified Master Profit First Professional, and the founder and president of bookskeep, a virtual company that provides bookkeeping and Profit First consulting services to ecommerce clients all over the world. Cyndi devotes much of her time speaking at various events such as ASD Market Week, ProfitCon, Marketplace Brand Accelerator Training, the Ecommerce Business School and other webinars, teaching ecommerce businesses how to implement the Profit First method. She has contributed to publications such as Skip McGrath s Online Seller s Resource and is a regular contributor to The Private Label Insider and the Inventory Lab newsletter. Honors and awards include Profit First Member of the Year 2016, Profit First Go-Giver 2017, and one of the Top 50 Women in Accounting Award 2018, presented by Practice Ignition. Cyndi is a master gardener and enjoys being surrounded by nature, spending time with family, friends and a menagerie of fur babies. Bookskeep -Website Cyndi Thomason - Website   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books      

Danielle presents a significant subject today, which holds importance regardless of the duration of your business. How can you increase the value of your business, ensuring a premium price/offer upon its sale? Business owners typically exit their business for one of three reasons. Begin strategizing for your exit today so your motivations align with your intended plans. In this episode, Danielle will outline four strategies that will amplify your business's profitability.   IN THIS EPISODE: [00:00] Danielle will talk about exiting your business, and the first question to answer regarding leaving your business [06:23] How do you value your business [09:35] The three motivators to selling a business; personal motivation; personal crisis, or the owner believes the business has peaked [14:32] Make a plan now for personal motivation and determine what you want to sell your business for [19:20]  Determine what you will do with your time; if you will stay involved in the business; how you will reward your employees, and the impact of shareholders on the value of the business [26:10] A review of the four areas that can lead to a 30% in the value of the business   KEY TAKEAWAYS:  It's never too soon to begin an exit plan for your business to maximize the sale price. The reason for selling the business does have an impact on the value of your business. Personal crisis is the least favorable motivator to selling a business leaving you with the least profit.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

What does intentional growth mean? We're not referring to the physical size of your premises or the number of employees you have.    We're focusing on profitability scaling your business!   In this episode, Danielle leads us through six steps for intentional growth. If you want deliberate expansion and increased profitability, you need to be purposeful in following these six steps.!   IN THIS EPISODE: [00:00] The topic of the day is intentional profitability growth [00:49] No. 1. Committing to growing intentionally starts with the owner's salary. Opt into the resource page on the website to participate in learning about what an owner should be paid. July 12th, 2023,  11:00 AM Pacific Time,  [05:45] No. 2. You need to commit to being intentional about making your business public.  [08:11] No. 3. Identify the areas where you'd like to grow your business. [12:46]  No. 4.  Invest one hour a day in assessing your areas of growth [17:25]  No. 5. Invest one hour weekly in reflection and writing down your learning [25:50] No. 6.  Become intentional about the growth of your business and share with someone KEY TAKEAWAYS:  When money comes into your business, and it's gone in a flash, you must be more profitable. That's letting your business happen to you. Sometimes reducing the size of your audience is best because you can concentrate on what you are doing and do it well. Investing in Profit First is an investment in your business.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

In today's episode, Danielle Mulvey guides us through the fundamental process of allocating funds in the Profit First system. Additionally, she highlights the contrast between Profit First and Advanced Profit First. Danielle provides an extensive overview of the three phases and the twelve steps that lead to financial success. It's important to note that Profit First is not a "set-it-and-forget-it" approach. The podcast also includes answers to viewers' questions. Make sure to have a pen and paper handy, as valuable tips are shared in today's episode. IN THIS EPISODE: [02:42] Danielle explains why you should do your allocations twice a month  [04:48] There are five common Profit First accounts, and it's essential these accounts are opened.  [07:48] Danielle answers a viewer's question about the necessity of having a financial accounting system to go along with the banking accounts. [09:31] What is the difference between Profit First and Advanced Profit First, and what other accounts are required [14:25] Danielle answers the viewer's questions about how to add a reserves account to purchase inventory, and she explains the difference between the cost of goods and operating expenses [20:09] Danielle explains how to implement Profit First step by step KEY TAKEAWAYS:  If you don't open the five bank accounts suggested by Profit First, you don't have a business. You have a hobby. Advanced Profit First is strongly advised when you pay sales tax or when you have the cost of goods. Don't overspend on marketing. Only spend what is allocated in the marketing account.     RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.    

Far too many business owners find themselves working hard, pouring into their ventures with nothing to show for it at the end of each year. It's not because their businesses are failing, it's because they haven't mastered profit.  Mike Michalowicz's Profit First system has made thousands of businesses profitable and changed how we do things around here.  What's the psychology behind the system? What problem does Mike want to solve with his new business?  In this episode, Mike returns to the show to share why Profit First is so powerful and gives us the details of his upcoming book.  Three Things You'll Learn In This Episode  Reverse engineer your profitability Why do we become more profitable when we think more frugally? How to find employees who think like owners What holds businesses back from finding the best talent? Solving the greatest recruiting problem What can sports teams and large corporations teach us about finding great hires?   Guest Bio Mike Michalowicz is an author, speaker, and serial entrepreneur with years of experience building strong and successful companies. He is the creator of the “Profit First Formula”, a way for businesses to ensure profitability from their very next deposit forward.  Mike has run multiple million-dollar ventures, 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, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed “the entrepreneur's cult classic.”  Get a free copy of Profit First and $50 when you sign up for the Relay, the official Profit First bank at https://banklikemike.com. Pre-order Mike's latest book, “All In: How Great Leaders Build Unstoppable Teams” here.   

Mike Michalowicz, the author of Profit First, addresses inquiries from the audience. He will delve into the initial expenses for budding enterprises and emphasize the importance of achieving profitability right from the beginning. He cautions against squandering funds on trivial items during the early stages of business establishment. Danielle invites you to a workshop on July 12th on Reverse Engineering, enabling you to ascertain your financial figures. This episode holds valuable information for individuals involved in any aspect of a business.   IN THIS EPISODE: [01:10] Mike gives his views on startup costs for a new business when sufficient cash is not available [05:53]  Mike tells why you should institute Profit First immediately when starting a business [08:19] Danielle invites you to a reverse engineering workshop to be held on July 12th to learn what your actual numbers are and stresses the need for going after new business  [11:31] Mike warns about focusing on the wrong things in the early stage of your business [13:38] Do I combine my businesses on Profit First or split them up? Mike is emphatic about his answer KEY TAKEAWAYS:  As a new startup, learning on a smaller scale is better.  The risk is less substantial, and you learn as you operate your new venture. A new business should start to become profitable from day one. If you have more than one business, you should ALWAYS have separate Profit First accounts for all your businesses.   ABOUT THE HOSTS: Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

Kasey Anton, the author of Profit First for Restaurants and founder of Spark Business Consulting, shares her thoughts with Mike shedding light on why some restaurants fail. Kasey has valuable advice on transforming your restaurant into a lucrative venture. Kasey will discuss the cost of a menu item, labor costs and the vital role culture plays in business success. Her book is available now, and the workbook is coming out shortly. Get a copy and see how profitable your restaurant can be.    IN THIS EPISODE: [00:35] Kasey explains why she wrote the book Profit First for Restaurants [02:19] Can restaurant partnerships be profitable  [03:38] What accounts did Kasey create to make the system more suited to restaurants [06:00] Controlling food costs [08:47] How does a restaurant typically implement the Profit First strategy [09:49] Kasey tells her “Five Guys” story and why providing extra fries still makes the business profitable [12:28] Kasey shares what type of restaurant might profit the most from her book, and she explains what the workbook to go along with the book will be like   KEY TAKEAWAYS:  Many restaurant owners need to account for the cost of plated food properly. You will lose money if you don't calculate the add on's. Many restaurants lost money during Covid simply because they needed to add the container costs, boxes, stickers, etc. Culture is just as crucial to a restaurant as its menu selection.   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books   Kasey Anton - Website Spark Business Consulting - Website Profit First for Restaurants - The Book GUEST BIOGRAPHY:  Kasey Anton is a former Restaurateur turned Bookkeeper. After living the high-end (and low-end) restaurateur lifestyle and experiencing the BEST and WORST that the world has to offer, Kasey decided to take her knowledge and true-life experiences and turn it into a business that can help others navigate some of the pitfalls of entrepreneurship. One of the biggest lessons learned on her journey? NUMBERS DON'T LIE. But we sometimes lie to ourselves – especially about business. So, knowing your numbers, the true, accurate, real, down and dirty, no-holds-barred NUMBERS of your business is KEY to the success of your business. And Kasey knows her numbers, and she'll make sure you know yours too. Along her journey, she came across a real game-changer known as “Profit First” – a simple yet ridiculously effective cash management tool that EVERY business should be using (and I mean EVERY). Once discovered, Kasey became a Profit First Professional Mastery Member, one of less than 50 in the world, and now works with businesses all across the US to help “eradicate entrepreneurial poverty.” Kasey's sole mission, and she and her Team have chosen to accept it, is to help business owners take control of their businesses, control their numbers, drive the business toward its truest vision, and be rewarded for that valiant effort. Fun Fact? Kasey is a ridiculously obsessed NFL fan (GO PATRIOTS!) and has flown on the Team Jet to a game in Buffalo and watched the game from the sideline, standing near all the players.   ABOUT HOST: Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs. As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.  

Danielle will be presenting an episode on the effective recruitment of five-star employees. Managing payroll is a significant expenditure, making it crucial to avoid errors in this vital aspect of your business. Hiring the right employee doesn't have to be a guessing game. There are established structures and principles that can assist you in selecting the ideal candidate for any position. Additionally, Danielle offers a complimentary download for a brief four-minute exercise that serves as a litmus test for assessing the eleven qualities of a five-star employee.   IN THIS EPISODE: [00:17] How do you hire five-star employees? Danielle gives an example of a learning experience in hiring a one-star employee [05:14] Hire based on a structured foundation of identifying and understanding all the factors and requirements of the position [07:11] What is the five-star rating system  [10:57] What are the 11 universal qualities that give you another hiring criteria [14:08] What is a return on payroll [16:30] Danielle gives an overview of how to hire a five-star employee and provides a free download of an Employers Guide of Hiring   KEY TAKEAWAYS:  Payroll is one of the most significant expenses any business can have. Five-star employees represent 15% of the available talent in the marketplace. There is a no-fail framework for hiring five-star employees.  There is no reason not to use these tips; never settle for anything less.   Text Neversettle to 411-321 for a free download of Employers Guide to Hiring   ABOUT THE HOSTS: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams.   Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.   RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

In today's discussion, our primary focus is on the Business Hierarchy of Needs, specifically highlighting the Impact Level. Previous podcasts have already explored the Sales Level, Profit Level, and Order Level, all of which are accessible for you to listen to. Now, we focus on the Impact Level, where Danielle will delve into five distinct sub-topics within this domain. These areas are essential and directly influence your business, employees, and the community. Don't overlook this crucial aspect of the Business Hierarchy of Needs.   IN THIS EPISODE: [01:19] Fix this Next: Business Hierarchy of Needs. Danielle dives into the  first level: Transformation Orientation  [05:49] What is Mission Motivation [06:44] What is Dream Alignment [09:51] What is Feedback Integrity [13:36] What is a Complimentary Network [16:40] Danielle refers the listener to OC.FixThisNext.com for a complimentary assessment   KEY TAKEAWAYS:  Companies should have a mission statement that employees know and can support. Does your mission statement inspire anyone? Don't be afraid of communicating with your competition. You can learn from each other. Take advantage of the complimentary products that OC.FixThisNext.com to complete the assessment.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website   Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books   Fix This Next - Website  

Today is a dedicated episode for questions and answers, where Danielle addresses the most commonly asked questions in depth. Profit First's guiding principle is "When in doubt, add an account." Therefore, we will discuss essential accounts that every business should have and additional accounts for specific scenarios. We will also tackle inquiries related to actual revenue, compensation for owners, distributions, and how to allocate these funds. Moreover, you will gain insights into evaluating a business you might be interested in acquiring. This episode is filled with valuable information for entrepreneurs, so don't miss it.    IN THIS EPISODE: [01:18] What does real revenue mean [06:32] How many accounts should I have if I operate with goods or subcontractors, et cetera [08:38] What if I receive a paycheck? Does it still go through the owner's pay account [09:34] Do I only do allocations on the 10th and the 25th [12:06] Do you need a profit account and a separate owner's pay account if you take your pay in distributions [13:28] Can I use Profit First to identify which business to buy? Danielle gives an example of what not to do [17:30] Is it ever a good idea to run a profit assessment on a large business representing many services, or how should it be done [21:38] Submit any questions you have to profitfirstnation.com    KEY TAKEAWAYS:  Never purchase a business without first looking at the owner's taxes. There are five accounts a business needs; an income, a profit, the owner's pay, a tax account and the operating expense account.  Self-employed people who receive their income irregularly should make allocations based on when they receive income.   ABOUT THE HOSTS:   Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.   Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams. Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.   As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books  

In the latest episode of Profit First Nation, Danielle unveils the Five-Star Retention Strategy and emphasizes the importance of wholeheartedly adopting this approach for any thriving entrepreneur. Throughout the episode, she will provide a comprehensive breakdown of each strategy, revealing the top three desires of employees. As a business owner who has effectively established your company, it is crucial to shift your attention towards nurturing your workforce. Get ready with a pen and be prepared to jot down valuable insights, as this installment of Profit First Nation promises to become a personal favorite.   IN THIS EPISODE: [00:22] Danielle talks about going all in on your business and having a five-star retention rating strategy [04:18] Danielle goes through the five-star retention strategies  beginning with star number one of psychological ownership [07:57] Star number two is supporting employee wants and needs [14:43] Star number three is to stay connected with your five-star employees [21:04] Star number four is maximizing employee qualities, aptitudes and skills [23:07] The final star, number five, is to lift up your employees [26:48] Danielle states that you succeed or fail because of your people. Put them first, and she directs you to the “Resources” for more information about Profit First Nation   KEY TAKEAWAYS:  Entrepreneurs should offer their top performers the same paid time off (PTO) they enjoy to retain exceptional employees. Employees want three things—stability, comfort and purpose. Once entrepreneurs have the business rolling and successful, they should focus on their five-star employees who keep it running.   ABOUT THE HOSTS: Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that. Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams.   Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs. As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors. RESOURCES: Danielle Mulvey - Website Danielle Mulvey - Linkedin The All In Company - Website Profit First Nation - Website Mike Michalowicz - Website Mike Michalowicz - Linkedin Mike Michalowicz - Twitter Profit First Professionals - Website Mike Michalowicz - Books    

Melissa is proud to bring back to the show Mike Michalowicz. Mike has supported Melissa in multiple ways over the years and is helping her bring her book to the world (very soon!). In this episode, Mike and Melissa explore how grief can act as a form of connection. They examine the true purpose behind their writing and how success can be the opposite of what's best for you. This episode is an understanding and loving exploration of grief. Mike and Melissa examine how we compound grief, how to support others' grieving, and the true normalcy of the grief we experience. You will leave this conversation feeling more supportive of yourself and how better to support those around you. 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, Get Different. Mike is a former small business columnist for The Wall Street Journal and regularly travels the globe as an entrepreneurial advocate. Highlights1:14 - How Melissa's story landed her a unique book deal4:05 - Mike navigates his rock-bottom moment9:51 - Pitfalls of ranking your success and grief12:35 - Qualifiers to be a successful and helpful coach18:08 - How to identify coaches that can help you22:21 - Why do we resist the places we're meant to go?26:45 - The ways we compound grief35:09 - Embracing your experience of grief41:19 - Forgiveness as the ultimate form of relief47:09 - The perils of positivity51:36 - The normalcy of grief56:52 - Connecting with MikeConnect with MikeVisit his websiteGet the free toolsRead his booksListen to his podcastLearn more about MikeMike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. In his 2020 release Fix This Next, Mike details the strategy businesses can use to determine what to do, and in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions). His latest book, Get Different, will give you the tools to stand out in any market.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 a 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.”About the podcastGrief and Guts is for anyone navigating:Bereaved parentsAging parentsDivorceEmpty nestFertility journeyJob lossRelationship endingMovingThe loss of sense of selfThe loss of life envisionedMeet the hostWhen Melissa Dlugolecki lost her daughter Leyden, in a case termed a catastrophe, she didn't want to live...never mind love life, again.As a bereaved mother, when Melissa lost my daughter Leyden, she never thought she would be happy again. Melissa felt guilty when she started to smile.​As a former educator, Melissa felt trapped by the politics, paperwork, and constricting schedule of the education system.Yet after building a 7-figure business, traveling the world, launching a podcast, writing a book (more to come), and coaching thousands of individuals, she has found one thing to be true for all of us…We have the power to create our own happiness, regardless of circumstances. And there are certain processes and strategies effective in doing so.It's not just a “think positive” method or a “go harder” approach. I intertwine a dance of intangibles around our energy management with tangibles such as action steps, communication strategies, and ways to feel our best.Growth isn't always forward progress. It's messy. It's hard. But it is worth it. And while you work your way to whatever goal you are pursuing, just keep showing up. Life is too short to feel stuck.Connect with MelissaLearn more at Melissa's websiteJoin the conversation on InstagramCreditsThe podcast was edited and mixed by Andrew at 51 features. Connect at andrew {at} 51features {dot} com.

On this episode of Making Elephants Fly, Terry sits down with Mike Michalowicz. Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies to you. Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. In his 2020 release Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions). His latest book Get Different (released September 21, 2021) will give you the tools to stand out in any market. 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 a 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.”   Join Mike and Terry as they talk about the importance of financial freedom, unexpected marketing strategies, and the power of saying no to things that don't serve your mission. The big idea from this episode is that by shifting from "entrepreneur mode" to being a shareholder, business owners can achieve financial success and live a life defined by meaningful work. Find out more at http://terryweaver.com and join Terry at the Thing at http://thething.live and use the code PODCAST for a discount.

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

Mike Michalowiczk, the best-selling author of Profit First, the Pumpkin Plan, and The Toilet Paper Entrepreneur joins us to teach how to assign outcomes, how to hire the right people and the importance of removing negative clients.