Lessons for Success in Entrepreneurship | 17min snip from The Intrinsic Value Podcast

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MI Rewind: Business Crash Course w/ Mike Michalowicz

The Intrinsic Value Podcast - The Investor’s Podcast Network

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CHAPTER

Lessons for Success in Entrepreneurship

Robert Leonard welcomes back Mike Michalowicz to discuss their experiences in entrepreneurship, the importance of learning from failures, and applying concepts from their books to businesses. They share examples of implementing principles like 'Clockwork' and 'profit first' in their own businesses, as well as the benefits of taking breaks. They also explore the concept of the 'power of broke' and the value of facing challenges and setting unaccomplishable goals.

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Robert Leonard brings back Mike Michalowicz to discuss entrepreneurship and marketing tactics, why having no money or experience actually gives someone a shot at their business working, why a business plan is a waste of time, and a bunch more.

Mike Michalowicz is a serial entrepreneur who had founded and sold two multi-million dollar companies by the age of 35.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

26:18 - How someone can get their very first customer, who isn’t a friend or family member.

31:24 - Why most businesses and people’s marketing plans fail.

32:45 - Why copying best practices from your competition almost guarantees your marketing will go unnoticed.

35:51 - The breakdown of the idea of the DAD or D-A-D framework.

45:40 - If Mike was able to go back to before he started his first two successful companies, or even if he is to launch a brand new business today, what he would use that he knows now that he didn’t know back then that would increase the speed and probability of his businesses’ success.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Related episode: Listen to MI043: Blueprint for Entrepreneurship w/ Mike Michalowicz, or watch the video.
Mike Michalowicz’s Go Get Different website.
Mike Michalowicz’s books Get Different, Profit First, The Pumpkin Plan, Clockwork, Fix This Next, The Toilet Paper Entrepreneur, and Surge.

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