Episode #135: Profit First with Mike Michalowicz

October 3, 2018

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:

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About steve glaveski

Your host and occasional cybernetic organism, Steve Glaveski, is committed to helping people better navigate the growing uncertainty that technology change brings, in order to survive, thrive, create more value for the world and lead more fulfilling lives.

Steve is the CEO and co-founder of innovation accelerator Collective Campus, founder of children's entrepreneurship program Lemonade Stand, author of Amazon best-seller The Innovation Manager's Handbook and the Wiley book, Employee to Entrepreneur, investor in blockchain based fractional property investment platform Konkrete and is a keynote speaker and startup advisor.

When not fighting T-1000s Steve can be found in the gym, hiking, skating at the beach, attempting standup comedy, at a heavy metal show or socially lubricating at a whisky bar.

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