Sales, Obligations and Profits with Mike Michalowicz

Mike Michalowicz, author, entrepreneur, and angel investor, shares his story of losing all his financial assets fifteen years ago.. “I lost all my money because I was completely ignorant of what made an entrepreneur successful.” As a result, Mike lost his home and possessions; but still had his family. Meet Mike Michalowicz Mike launched three multi-million dollar companies and has been awarded the NJ SBA’s Young Entrepreneur of The Year when he was 26. He sold his first company to private equity and his second firm to a Fortune 500. Mike is the author of Fix This Next, Clockwork, Surge, The Toilet Paper Entrepreneur, The Pumpkin Plan, and Profit First, which were translated into 20 different languages. He is a former small business columnist for The Wall Street Journal. Mike 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 coaches. Do Sales Cure All Business Issues? “At first we have to realize what sales are.” Sales create cash, but sales alone are not sufficient. “Sadly there's some pundits who say sales cures everything. And that is total bullshit.” The point of sales is to establish a runway for profit. Listen in to find out the value of behavioral intercepts and why more sales mean an increase in your work obligation. You’ll also learn: Why sales won’t cure all business money issues How to bake profits into your business Why you shouldn’t always spend money on capital expenses The goal of having an efficient business The Four D’s and how you can make them work for your company For more information, visit the show notes at https://www.amandaabella.com/sales-obligations-and-profits-with-mike-michalowicz