Episode #135: Profit First with "Motorbike" Mike Michalowicz

By his 35th birthday Mike Michalowicz had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor... and proceeded to lose his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the "Profit First" formula, a simple and extremely effective ways for businesses to ensure profitability from their very next deposit forward. Mike is now running his third million dollar venture, Profit First Professionals , is a former small business columnist for The Wall Street Journal; is the former MSNBC business make-over expert; is a popular keynote speaker on innovative entrepreneurial topics; and is the author of Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed "the entrepreneur's cult classic." Mike is also a guest lecturer for collegiate entrepreneurial programs such as Babson, Boston College, Columbia, Copenhagen Business School, Emerson, Harvard, Penn State, Pepperdine and Princeton. His books are in the core curriculum for entrepreneur students at Pepperdine, Carnegie Mellon, Stanford University, and universities across the country. Topics Covered: - 80s hair bands \m/ - Lessons learned from building two multi-million dollar businesses and losing the lot - Mike’s new book, Profit First - The profit first formula: Sales - Profit = Expenses - 4 simple principles for managing money and putting profit first - Why this flies in the face of “you’ve got to spend money to make money” and how to strike a balance - Why raising funding is not indicative of startup success - Why small profitable business can be worth much more than a large business surviving at its top line - Putting profit first in enterprise - 3 Sheets of paper to you need to launch and grow a business ‍ Show Notes: 1) Mike’s website: www.mikemichalowicz.com/  2) Mike’s facebook: www.facebook.com/MikeMichalowiczFanPage 3) Mike’s Twitter: twitter.com/#!/MikeMichalowicz 4) Profit First Book: www.profitfirst.com  5) Mike’s other books: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine - https://amzn.to/2xu9dHR Clockwork: Design Your Business to Run Itself - https://amzn.to/2MA6BNZ The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field - https://amzn.to/2pdNT5j The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll. - https://amzn.to/2xn72pn Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry's Big Kahuna - https://amzn.to/2xoREJc ‍ --- Join the conversation on Facebook: www.facebook.com/groups/futuresquared/where you can discuss episodes, request guests, propose questions for forthcoming guests and access exclusive content and special offers! Listen on iTunes @ goo.gl/sMnEa0 Listen on Spotify @ spoti.fi/2G2QsxV Listen on Stitcher @ www.stitcher.com/podcast/future Listen on Google Play @ bit.ly/FSGoog ‍ If you've got any questions on this podcast feel free to send an email to steve@collectivecamp.us or tweet me on Twitter @steveglaveski or @future_squared Follow me on Instagram: @thesteveglaveski Like us? ‍ It'd make our day if you took 1 minute to show some love on iTunes, Stitcher or Soundcloud by subscribing, sharing and giving us a 5 star rating. ‍ To sign up to our mailing list head to www.futuresquared.xyz For more information on Collective Campus, our innovation hub, school and consultancy based in Australia and Singapore check out www.collectivecampus.io GET COACHED BY LUCAS: https://www.ergogenic.health/product/coaching GET LUCAS TO DESIGN YOUR SUPPLEMENT PROTOCOL: https://www.ergogenic.health/product/custom-stack   Hosted on Acast. See acast.com/privacy for more information.