OTC Ep. 37 – Profit First With Mike Michalowicz
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In This Episode
Mike Michalowicz, Author of Fix This Next, Profit First and many other books is a warrior for small businesses. He and John chat about small businesses, mental health and stress in a Covid-19 landscape and his upcoming book – Fix This Next (www.fixthisnext.com).
Kasey Compton, owner of Mindsight Behavioral Group and Consulting With KC, discusses her life and business both before and after implementing the Profit First system.
Show Summary
Our economy stands on a precipice in the wake of Covid-19. Millions of businesses are waiting for the fallout and dust to settle to determine whether they will be able to rise from the ashes or not. Mike Michalowicz has been a leader in battling Entrpeneurial Poverty long before the Coronavirus. His Profit First system has helped many business owners and teams position themselves to pull themselves out of debt and dysfunction.
Common Myths
- You have to spend money to make money
- In order to succeed, you just have to work harder and hustle more
Main Points
- Owning and running a business can be stressful and taxing
- We often fix problems by putting out the biggest fire at the moment
- The Profit First system was created to help businesses run efficiently
- Fix This Next was designed to help teams and business owners determine what is the most important problem to address
- SBA Covid-19 Resources can be found here
Meet Mike Michalowicz
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 a small business 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. Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies to you.
Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. And his latest, arguably most impactful discovery, is Fix This Next. In Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions).
Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and business makeover specialist on MSNBC. Mike is a popular main stage keynote speaker on innovative entrepreneurial topics; and is the author of Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur.
Fabled author, Simon Sinek deemed Mike Michalowicz “…the top contender for the patron saint of entrepreneurs.”
Meet Kasey Compton
Kasey is the owner of Mindsight Behavioral Group located in south central Kentucky. Her practice is very diverse and hires a range of over 80 wellness professionals. She has six physical office locations spread out over 17 counties where Mindsight’s services are provided. Her superpower definitely lies within creating and capturing innovative systems for growth while being highly focused on the financials. She believes that the financials speak volumes for how effective your practice’s systems are, and she enjoys helping other group practice owners learn to evaluate their own financial to use as indicator for change.
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OTC Ep. 36 – The Cancer Trauma Project With Schuyler Cunningham
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OTC Ep. 38 – Mindfulness With Dr. Frank Sileo
Meet John Dennis
John is a licensed professional counselor with over 14 years of experience who specializes in counseling for individuals, couples, children, and adolescents. He focuses on working with anxious teens and adults, couples who are struggling to connect with one another, and those dealing with grief and loss.