Episode #215: Running Your Business on Profit First with Mike Michalowicz

Mike Michalowicz, author, podcaster, speaker, business columnist and TV host, gives us an abundant amount of business tips and his experience in becoming a successful entrepreneur. Today’s podcast has an emphasis on “Profit First”, teaching business owners how paying yourself first can transform the ecosystem of your business. From the fear and downfalls to transformation and confidence, Mike covers it all! You want want to miss this mindset changing podcast.

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MAIN POINTS:

  1. Everyone experiences the fear and downfalls in starting a business, this is just a step towards a better outcome.
  2. Knowing the “Profit First” formula, which is the key to building a profitable business AND paying yourself.
  3. Find your purpose. Running a business for your “why”, and not letting the fear control the business.
FAVORITE QUOTES:

“Profit brings this consistency and this sense of control and then this confidence comes about. Which takes you from the stage of fear to confidence. “ – Mike


“This business change from a fear based business to a confidence based business. By running on confidence more intelligent decisions, so much more throughout, that starts triggering this really healthy, organic growth.” – Mike

I encourage everyone to think about their purpose. Always keep in mind, why I’m doing this? And you will find it. For me it’s been the biggest strength, source of energy, and joy in my work.” – Mike

Resources Mentioned: Profit First, Clock Work, Surge, The Pumpkin Plan, The Toilet Paper Entrepreneur


Follow Mike on his website and his instagram @mikemichalowicz.

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Original Air Date: June 4, 2019
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Meredith Pomietlo
Meredith Pomietlo
[email protected]

Meredith is our Trend & Podcast Editor here at The Hub and enjoys anything involving photography, art, and design! She also has a love for fashion, especially the boho-vintage vibe. She is currently going to school for Retail.