My Guest
Today I’m joined by entrepreneur, investor, and best-selling author, Mike Michalowicz. Mike is the author of nine books, most notably Profit First, which boasts ~8,700 ratings on Amazon.com with an average rating of 4.8 stars. The book outlines a deceptively simple yet highly effective system to help businesses hit their target profit numbers with a high degree of regularity.
In addition to being a best-selling author, Mike is himself a serial entrepreneur, having founded, operated, and successfully exited several companies across his multi-decade career. He now spends much of his professional time writing, speaking, and coaching CEOs and entrepreneurs on the various systems and tools that helped make him successful.
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Profit Before Anything Else: With Mike Michalowicz, Author of "Profit First" – In The Trenches
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Questions Asked
Introduction
- Walk us through the chronology of your career, including what led you to what you’re doing today
Profit First
- Please walk us through the basics of the Profit First method
- You’re a big advocate of paying down debt as aggressively as possible. How and why did you form this opinion?
- Does your aversion to leverage change at all depending on prevailing interest rates and/or the specific debt instrument in question?
- Does your aversion to leverage apply to your personal finances as well?
- You’ve said that the inverse relationship between growth and profitability is a false dichotomy, and that targeting one over the other would be a mistake. Can you elaborate?
- Tell us about your experience “firing” problematic or unprofitable clients, and how you go about doing so today
- Based on your personal experience navigating several exits, what advice might you give to post-exit entrepreneurs, both financial and otherwise?
Small Business Entrepreneurship
- Tell us about your personal “BHAG”: What is it, and why did you choose it?
- You’re an advocate of time tracking: Why and how do you track your time, what tools you use, and what benefits have resulted from this practice?
- What are the most frequent mistakes that you see leaders make with respect to goal setting for their companies?
- How did you pitch yourself and your book ideas to publishers who probably decline thousands of business book ideas each year?
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Thanks to our Sponsors
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