Ep 30: Business Owner and Author Shares His Profit-First Approach

By his 35th birthday, Mike Michalowichz had founded and sold two multi-million-dollar companies. He then became a small business angel investor and lost his entire fortune.

Since then, Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies. He is the creator and author of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit.

He is the creator of Clockwork, a powerful method to make any business run on automatic. And his latest book is Fix This Next. In it, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth and avoid debilitating distractions.

Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books.

As you listen to the show, keep an ear out for these topics:

  • How Mike misled himself and his family during business trouble
  • Why his wife was aghast about his book idea
  • Why being profitable is more than OK
  • What entrepreneurs invest in too late
  • Why he believes niches are important
  • How he continues educating himself
  • The most worthwhile investments

The full interview can be heard using the audio player above and utilize the timestamps below to jump to a specific topic. Thanks for listening!

[1:34] – Meet Mike

[3:35] – Crash and burn

[6:11] – His first book

[8:50] – Being profitable is OK

[11:59] – Key foundations to business

[13:54] – Finding your niche

[17:23] – Work-life balance

[19:34] – Educating himself

[21:29] – Worthwhile investments

[23:32] – Best investment in his business

[24:39] – Contact Mike

 

Check out a message from Mike about this episode

Quotable Moment:

I’m persistent. I’m pleasant in my persistence, but I’m persistent.

-Dr. Sabrina Starling