Episode 025: Mike Michalowicz – Why You Should Put Profit First…

This was a very interesting conversation with Mike Michalowicz… Mike has had some very great moments and some low moments… Including a heartbreaking story about telling his family he went broke. The response from his daughter in particular was incredible. You’ll want to hear Mike tell this story…

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.”

Episode 025: Mike Michalowicz – Why You Should Put Profit First…

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The Learning Leader Show

“Don’t ask yourself what the world needs; ask yourself what brings you alive.”

Some Questions I Ask:

Why do we fail to execute on these great ideas?
Why don’t you like the content that Tim Ferriss produces?
What is one exercise people can do to get out of their comfort zone?
Which three people would you love to be at your dinner table?
What books have influenced you most?
Which individual leader has had the most influence on you?

In This Episode, You Will Learn:

The heart breaking story of his daughter offering up her piggy bank when Mike went broke
How to use swearing well
Tactics to become a better public speaker
How Dale Carnegie has influenced him so much
How to properly set goals
The elements that define a quality life
How long it takes to become an overnight success

Continue Learning

Read: Profit First
Read: The Toilet Paper Entrepreneur
Follow Mike on Twitter: @MikeMichalowicz

You may also like these episodes:

Episode 001: How To Become A Master Connector With Jayson Gaignard From MasterMind Talks

Episode 002: How To Take Over And Set Bigger Goals With Chris Brogan

Episode 004: How Todd Wagner (and Mark Cuban) Sold Broadcast.com To Yahoo! For $5.7 Billion

Episode 010: Shane Snow – How To Accelerate Success Using Smart Cuts

Did you enjoy the podcast?

I love learning from people who bring a new idea to the table… That is what Mike has done. Mike is an extremely interesting person. Who do you know that needs to hear this? Send them to The Learning Leader Show!

Episode edited by the great J Scott Donnell

Bio From mikemichalowicz.com

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.”

025: Mike Michalowicz – Why You Should Put Profit First…

The Learning Leader Show With Ryan Hawk