It's time for another Ask Mike Anything episode, where Mike Michalowicz reads and answers your emails to support you on your Profit First journey. Join us as we cover tax accounts from different angles, discuss how Profit First can work for non-profits, and explore the importance of treating a "hobby business" like a real business (and why you should stop calling it a "hobby business"). Don't miss this opportunity to get your questions answered by the Profit First master himself!...
Feb 25, 2022•20 min•Season 1Ep. 98
Feb 18, 2022•31 min•Season 1Ep. 97
Feb 10, 2022•24 min•Season 1Ep. 96
Feb 03, 2022•20 min•Season 1Ep. 95
Join us as we revisit the PROFIT Level fixes from Mike Michalowicz's book, "Fix This Next." We'll cover five key topics, including Debt Eradication, Margin Health, and Profitable Leverage, and share 17 very specific fixes you can apply to achieve permanent profitability in your business. Whether you're just starting out or looking to take your business to the next level, this episode is packed with insights and strategies for achieving long-term financial success. Don't miss out!...
Jan 30, 2022•27 min•Season 1Ep. 94
Jan 20, 2022•23 min•Season 1Ep. 93
Join us as we speak with Steve, a Profit First ROCK STAR, about his journey back from the abyss of debt, no profit, and no owner's compensation. Discover how Steve used the Profit First system to transform his business and achieve permanent profitability. We'll explore practical strategies and insights for implementing Profit First, overcoming common challenges, and building a more successful business. Whether you're struggling with debt or just looking to improve your financial management, this...
Jan 14, 2022•27 min•Season 1Ep. 92
In this episode, Kasey Anton, a Mastery-certified Profit First Professional, shares the six common stymies that can hinder your progress in doing Profit First right. She also offers practical tips and strategies to overcome these obstacles and achieve financial success in your business. Plus, she invites listeners to take her Fix This Next Assessment Tool to identify the critical needs of their business.
Jan 07, 2022•28 min•Season 1Ep. 91
In this episode, we dive into some burning questions related to banking and payroll for Profit First businesses. We cover a range of topics, including the best types of bank accounts to use, how to choose the right bank for your business, and how to handle allocation day when paying employees with variable compensation such as commissions or percentage-based pay. Whether you're just starting out or you're a seasoned business owner, this episode is full of valuable insights to help you manage you...
Dec 30, 2021•18 min•Season 1Ep. 90
Dec 23, 2021•21 min•Season 1Ep. 89
Join Mike Michalowicz and Danielle as they dive into another episode of "Reading Mike's Inbox." In this episode, they'll be sharing some of the most interesting and entertaining emails that Mike has received recently. From funny stories to insightful questions, you never know what you'll find in Mike's inbox. Tune in now to see what's in store for episode 8!
Dec 17, 2021•28 min•Season 1Ep. 88
Running a mental health group practice can be challenging, but with the right metrics, you can achieve permanent profitability. In this episode, Angie Noll from ReconciledSolutions.net shares five key dashboard metrics that will provide clarity to your numbers and help you accelerate your practice's success. From revenue to staff productivity, these metrics will give you the insights you need to make informed decisions and stay on track. Don't miss out on this valuable resource – visit the link ...
Dec 17, 2021•19 min
Are you struggling with accounting, bookkeeping, or financial management for your business? In this episode, Angie Noll, a Mastery-Certified Profit First Professional and principal of Reconciled Solutions, shares her expert insights on the 5 steps to getting your financial game together. From creating a cash flow plan to optimizing your accounting systems, these steps will help you relieve stress and build a solid financial foundation for your business. Tune in now for some great reminders and a...
Dec 10, 2021•28 min•Season 1Ep. 87
COVID-19 has reminded us of the importance of being prepared for unexpected or tragic events that can impact our business operations. In this episode, we share six best practices for business continuity planning that will help ensure your operations continue swimmingly regardless of the circumstances. From having a contingency plan in place to recruiting and retaining 5-star employees, these practices will help you build a resilient and adaptable business that can weather any storm. Tune in now ...
Dec 03, 2021•20 min•Season 1Ep. 86
Whether you're a new business or an existing one, we'll guide you through the process and cover all the bases to ensure a successful implementation. Don't let common obstacles hold you back from achieving financial success – tune in now to learn how to overcome them and take your business to the next level with Profit First.
Nov 25, 2021•22 min•Season 1Ep. 85
From improving your customer service to optimizing your pricing strategy, these simple but powerful tips will help you delight more customers and increase your revenue. Whether you're just starting out or looking to take your sales to the next level, this episode has something for you.
Nov 18, 2021•20 min•Season 1Ep. 84
Remember, you're not just selling a product – you're selling a state that solves your customer's pain. By mastering your sales state, you can connect with your customers on a deeper level and close more deals.
Nov 11, 2021•21 min•Season 1Ep. 83
Are you curious about how quickly you can set up your Profit First accounts in person at the bank after attending a Profit First workshop? In this episode, we speak with Brittany Milan, owner of Eleve Performing Arts Center, who set a record of just 38 minutes for opening her accounts after attending a workshop. Brittany shares her journey of implementing Profit First in her business, and how it has transformed her approach to cash flow and profitability. As a small business owner, Brittany had ...
Nov 04, 2021•24 min•Season 1Ep. 82
We share more than 20 strategies for building a solid sales foundation, and breaking free from the cycle of just surviving to achieving long-term growth and profitability. Don't miss out on these valuable insights to take your business to the next level!
Oct 28, 2021•27 min•Season 1Ep. 81
Whether you're just starting with Profit First or need help with implementation, we've got you covered. Tune in for valuable insights and remember, YOU’VE GOT THIS!
Oct 21, 2021•20 min•Season 1Ep. 80
In this episode, we explore the importance of probability in achieving long-term profitability in business. Our guest emphasizes the need to let a proven system work while spending brainpower on differentiation from competitors. We also discuss the significance of starting over and adjusting rules to fix past mistakes and focus on actions that will lead to future profitability. Tune in for valuable insights on maximizing profits and running a successful business.
Oct 14, 2021•25 min•Season 1Ep. 79
In this episode, we dive into the importance of understanding your "Return on Payroll" to achieve maximum profitability and growth in your business. Our guest emphasizes the need to define success with measurable numbers and to watch payroll expenses, especially as the business scales. We discuss the impact of hiring average employees versus 5-star employees and how it can significantly affect payroll costs. Tune in for valuable insights on how to maximize profitability and scale your business s...
Oct 07, 2021•22 min•Season 1Ep. 78
Tune in for valuable insights on how to operate your business in your sweet spot and achieve long-term success.
Sep 30, 2021•21 min•Season 1Ep. 77
In this episode, we are joined by Certified Profit First Professional and CPA, Denise Grove, as she shares a harrowing tale of how embezzlement by a receptionist led to a business owner facing foreclosure on their properties. Our guest emphasizes the importance of not abdicating accounting and bookkeeping tasks and shares five low-tech tips to thwart embezzlement, which happens in 30% of small businesses. We discuss the need for business owners to stay vigilant and take preventive measures to pr...
Sep 28, 2021•31 min•Season 1Ep. 76
In this episode, we are joined by Billie Anne Grigg as we discuss how to understand the jargon of Profit First, specifically in chapter 3 of the book. Our guest provides insights from both a traditional accounting/bookkeeping perspective and a Profit First cash management perspective to help readers overcome terminology hang-ups. We also reference a previous episode on cash management versus accounting for more in-depth subtopics. Tune in for valuable insights on how to navigate Profit First ter...
Sep 16, 2021•23 min•Season 1Ep. 75
Our guests emphasize the importance of not settling for average or ho-hum employees and provide valuable insights into how to find and retain great talent.
Sep 09, 2021•21 min•Season 1Ep. 74
In this episode, we explore the link between pricing and profitability in a business. Our guest emphasizes the importance of maximizing pricing to achieve a healthy margin, which is a critical factor in overall profitability. We discuss how premium service dictates premium pricing and the need to resist the temptation to serve everyone with your products or services. Instead, it is important to focus on ideal customers who value your premium service and are willing to pay for it. We also touch o...
Sep 02, 2021•26 min•Season 1Ep. 73
Our guest discusses when, why, and how to work with a consultant of any kind and variety, emphasizing the importance of aligning with a consultant who has experience in your industry and a proven track record of success. We also touch on the common misconceptions about working with consultants and how to overcome them.
Aug 26, 2021•22 min•Season 1Ep. 72
If you're looking to maximize your profits and take your business to the next level, this episode offers practical insights and guidance to help you assess and address the key areas impacting your profitability. Tune in to learn more and start fixing your Profit Level today!
Aug 19, 2021•24 min•Season 1Ep. 71
Join us as we peel back more layers of Profit First and provide greater clarity on its implementation.
Aug 12, 2021•25 min
