189: He Escaped Bankruptcy—Then Built a System That Changed Everything with Michael Erath - 8FE

What if the framework you’re using to grow your business is the very thing holding it back? Today’s guest, Michael Erath, founder of Next Level Growth, reveals why systems like EOS and Scaling Up, while helpful, often become a cage for elite entrepreneurs. Michael grew a $45M company, lost it all to fraud and a financial crisis, and came back stronger with a custom-built framework that now helps other businesses scale without the chaos. In this episode, you’ll hear how Michael bounced back from total collapse, why most entrepreneurs are aiming too low, and what makes his Five Obsessions of Elite Organizations framework a smarter, more adaptable path to sustainable growth. You’ll also learn why effort is your responsibility, how to rethink coaching ROI, and why pricing strategy should never be an afterthought. If you’ve ever felt boxed in by traditional systems or know your business is capable of more, this conversation will show you how to build the kind of company others can’t compete with. Listen in and learn what it takes to grow a business that’s not just successful, but elite.  — This episode is part of the 8FE (8-figure entrepreneur) series, where we talk to entrepreneurs who have already passed the million-dollar mark.  — Key Takeaways: 00:00:00 Michael’s turbulent business background 00:02:47 Advice for aspiring entrepreneurs  00:05:28 Investment returns on coaching  00:14:46 Growing a family business to $45M  00:20:43 Bank fraud, embezzlement, and the 2008 collapse 00:23:51 There’s always a negotiation to be had  00:34:02 Starting over and building a new business 00:41:39 The EOS framework  00:44:59 The five obsessions framework  00:59:24 Michael’s book and its AI companion  01:01:51 AI and business 01:04:13 Acceptance of mediocre performance  01:08:48 Outro — Additional Resources: 🔹 Next Level Growth: https://nextlevelgrowth.com/  🔹 Michael on LinkedIn: https://www.linkedin.com/in/michaelerath1/  🔹 Five Obsessions of Elite Organizations: https://a.co/d/ckShv2Y   ➡️ Learn more at: https://beyondamillion.com/ ➡️ Watch full episodes here: https://www.youtube.com/playlist?list=PL5hbIUyUb68J3nhHSAGDrmUxX4vgXQ4b8 ➡️ Subscribe to our YouTube channel: https://www.youtube.com/@Beyondamillion?sub_confirmation=1   Let's Connect: 🔹 IG: https://www.instagram.com/bradweimert 🔹 TikTok: https://www.tiktok.com/@beyondamil 🔹Twitter: https://twitter.com/BradWeimert 🔹 FB: https://www.facebook.com/profile.php?id=100089061999787 —  Beyond A Million is a business podcast that reveals the scaling secrets of 8, 9, and 10-figure entrepreneurs. Every week, we share an exclusive behind-the-scenes look at the best business growth strategies that work.  If you're an entrepreneur or business professional who's looking to level up & continue to scale far beyond the million-dollar mark, this podcast is for YOU! Tune in weekly for new interviews with Easy Pay Direct founder Brad Weimert and business expert guests who absolutely crush it in their area of expertise. Learn world-class marketing and sales tactics with elite-level business strategies in sales, marketing, operations, finance, and wealth building. Be sure to give us a follow wherever you get your podcasts so you never miss a new episode!