203: What Profit First Can Do for You with Author Mike Michalowicz

Welcome to episode 203 of Profit Boss® Radio! In this episode, we're talking about how to use a powerful and proven methodology to drive profits. And I'm thrilled to have Mike Michalowicz joining me today to share his insights on how to transform your business into a money-making machine.

Mike is a bestselling author, a serial entrepreneur, and the creator of the Profit First system, which teaches business owners why profit should always come before expenses. And in September 2021, he released Get Different, providing entrepreneurs with the tools to stand out in any market.

The Profit First system is used by hundreds of thousands of companies across the globe, including my own. With so many entrepreneurs struggling to pay themselves, Profit First provides a scalable, sustainable way to build a life and a company–and embracing this methodology can change your life. As a Profit First certified coach, I'm proud to say that we teach Profit First as a part of our coaching program.

If you're ready to equip yourself with the tools to transform how you build your business and generate more profit, you're going to love this conversation.

Here’s what you’ll find out in this week’s episode of Profit Boss® Radio:

• How losing everything he had as he failed to launch 10 companies simultaneously inspired the Profit First system.
• Why you don’t need to be able to read a cash flow or income statement to utilize Profit First.
• The difference between leveraged debt and ignorant debt.
• Why almost every business owner spends at the exact same rate as they earn–and how to reduce your operating expenses without compromising your business.
• How you can use the Profit First system to quickly get a sense of what your accounts should look like and how to roll it out.
• How you can use the DAD (Differentiate-Attractive-Direct) framework to differentiate yourself and stand out in any market.
• What happened to Mike when his first book, The Toilet Paper Entrepreneur, flopped–and the unconventional strategy he used to take it from zero to 100,000 copies sold.

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Show Notes

To get access to the full show notes, including all the resources mentioned, visit https://hilaryhendershott.com/mike-michalowicz-profit-first

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.