Ep 163 Profit First with Mike Michalowicz

Profit First   Mike Michalowicz is the creator of Profit First and has written many books to help entrepreneurs succeed in business. He shares his experiences in buildings businesses.    Take away: You have to work on your business not in your business. Once you have your foundation built you can work at a higher level.   Action step: Automate your cash flow in business and your personal life.   Money Learnings: Mike's dad worked at a 9-5 job and his mom stayed home to raise kids. They used the envelope system for spending. School and college didn't teach him about money. Mike is teaching his kids to earn money.    Bio: Mike Michalowicz is the entrepreneur behind three multi-million dollar companies and is the author of Profit First, Clockwork, The Pumpkin Plan, and his newest book, Fix This Next. Mike is a former small business columnist for The Wall Street Journal and regularly travels the globe as an entrepreneurial advocate.   Highlights from this episode: Show notes page  

• Mike's experience losing everything in his third business.
• Sales = Stress
• Fix This Next
• Higher level needs for business.
• Bank balance accounting. 
• Profit First 
• The power of small plates.
• The best people to solve problems in your business are your front line employees.
• Profit First success stories.
• Crazy is a powerful force.
• The struggles with Profit First.

  http://mikemotorbike.com   To learn more about Mike and get access to a treasure trove of entrepreneurial tips, visit www.MikeMichalowicz.com.

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Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.