Profit First: A Strategy to End Entrepreneurial Poverty – Mike Michalowicz

Mike Michalowicz, author of Profit First, is a man on a mission: Eradicate Entrepreneurial Poverty! In 2008, Mike lost everything through what he calls arrogance & ignorance. Listen as Mike recounts his story of how his 9-year-old daughter wanted to 'provide for her family'.   WHAT WE DISCUSSED IN THIS INTERVIEW: Mike Michalowicz's "Profit First" is recommended for your accountant to enhance business profitability. Over 300 certified Profit First accountants work globally with entrepreneurs. The concept of "Profit First" is discussed in-depth, promising significant life changes. Five essential bank accounts for entrepreneurs are detailed to eradicate entrepreneurial poverty. Debunking the myth "It takes money to make money," learn to profit with less capital. Assessing business health and shifting to a Profit First mindset are crucial. Key topics: profitability over revenue, cash equity, managing built-up profit, and sustaining a 4-week vacation. "Clockwork" teaches business self-sustainability and removing the owner from daily operations. Mike Michalowicz Books Clockwork: Design Your Business to Run Itself The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine. 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. Surge: Time the Market Place, Ride the Wave of Consumer Demand, and Become Your Industry's Big Kahuna   SIGN UP FOR OUR NEWSLETTER If you’d been receiving the EMS Pulse newsletter and the weekly Expat Sunday Times, you would have already read the basics of today's story! Sign up now, and you’ll also receive my FREE special report, “Plan B Residencies and Instant Citizenships.”   CONCLUSION What a really nice guy Mike Michalowicz is. He really is a man on a mission: To Eradicate Entrepreneurial Poverty. What a fantastic goal. We both agree that failure does not have to be an option and there are teachers that truly want the best for you and your business, and Mike is one of these guys! He has a lot to teach Entrepreneurs and I highly recommend his methods.   Mentioned in this episode: Join Me In Panama For Our Next Tour I have great news. After many meetings and explanations, the Panamanian government has agreed to keep the Investors Visa at a $300k Real Estate investment instead of nearly doubling the amount required, as they said they would. This is a massive win for our community who wants to move to or invest in Panama, but I am not sure how long this will last… If you have been thinking about Panama, then I want to make an invitation to you today. Come join me for a special four-day tour to see if the country I call home is right for you and your family. We have just released the next set of trip dates. You can find out more at ExpatMoney.com/fly. Come visit me and the Expat Money team, get a feel for the country and see if Panama makes sense for investment or as a new home. Panama Fly'n Buy Real Estate Tour Veritas Panama - Offgrid Community After 17 months of bureaucracy, my...