By his 35th birthday, Mike Michalowicz had founded and sold two multi-million dollar companies. He became an angel investor, thinking he had discovered the formula to success, and in the process lost his entire fortune. His 9 year old daughter offering her piggy bank savings to help support the family was the most humbling moment Mike has had.
In response to his devastating financial loss, Mike started over again. He created the “Profit First Formula”, which is a way for businesses to ensure profitability from their very next deposit forward.
As a former small business columnist for The Wall Street Journal, former MSNBC business makeover expert, popular keynote speaker and author, Mike is now running his third million dollar venture and is the author of Surge, Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek has deemed “the entrepreneur’s cult classic.”
Mike is a graduate of Inc. & MIT’s Birthing of Giants Entrepreneurial Program. He also is a guest speaker at Harvard, Princeton, eBay, SBA and other organizations around the world. He is a recipient of the SBA’s Young Entrepreneur of the Year Award. He also plays guitar.
TUNE IN to this episode to hear Mike chat with Steve and Mary about his life, career, and how to put life back into your business.
In This Episode
1 – Because I’m Jewish And I Love Money; Only Thing Bigger Than My Bank Account Was My Ego; 83% of Businesses Are In Survival Mode2 – Let Your Mom Write Your Book Endorsement; Book Review Hacks
Sales – Profit = Expenses; Remove The Profit And Hide It; Profit Is A Habit; The Envelope System3 – The Profit Plan; Remove Temptation; The Pumpkin Plan Strategy; His Goal Is To Eradicate Entrepreneurial Poverty