BFS 026: Mike Michalowicz | The Profit First Revolution

Wed Jun 03 2015 (47:06)


Author | Entrepreneur 

By his 35th birthday MIKE MICHALOWICZ (pronounced mi-‘kal-o-wits) 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 way for businesses to ensure profitability from their very next deposit forward.

Mike is now running his third million dollar venture, 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’S MOST HUMBLING MOMENT: Mike’s Most Humbling Moment: After losing his fortune, Mike’s 9 year old daughter offered her piggy bank savings to support the family.

In this episode discover:

Mike offers a synopsis on each of his books…

  • starting a revolution with Toilet Paper Entrepreneur

  • What it takes to be a pumpkin farmer that is remarkable - and why this example is applicable to your business - You’d be surprised

  • Why asking for referrals doesn’t work

  • How not to be a jerk in your business

  • More on Profit First how you can create a healthy business

In Profit First, Mike Michalowicz, author of The Pumpkin Plan & The Toilet Paper Entrepreneur, explains why the GAAP accounting method is contrary to human nature, trapping entrepreneurs in the panic-driven cycle of operating check-to-check and reveals why this new method is the easiest and smartest way to ensure your business becomes wildly (and permanently) profitable from your very next deposit forward.

Books / Links mentioned:

Interested in becoming a Profit First Professional - click here

Patty’s Profit First Financial Expert:  Rebecca Bernack from Office Heads - tell her Patty sent you!


Mike’s  Social Media Connections:


Mike’s Website


Mike on Twitter


Mike on Facebook

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