How Thinking ‘Profit First’ Will Help You Succeed in 2019 and Beyond?

In this episode, Mike Michalowicz shares what led him to believe in the Profit First model of thinking and the entrepreneurial mindset. Mike also talks about the mission he’s on, to eradicate entrepreneurial poverty.

profit first with mike michalowicz

Who is Mike Michalowicz?

Mike mi-KAL-o-wits is the author of Profit First, Surge, The Pumpkin Plan, and his newest release Clockwork. By his 35th birthday, Mike had founded and sold two companies – one to private equity and another to a Fortune 500. Today he is running his third multi-million dollar venture, Profit First Professionals.

Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Over the years, Mike has traveled the globe speaking with thousands of entrepreneurs and is here today to share the best of what he has learned.

The business that takes profit first actually outpaces its competition in growth. Once you take profit first, you have less money to spend and hence make thoughtful decisions. @mikemichalowicz #entrepreneurship #growth #profit Click To Tweet

Why Should You Listen to Mike Michalowicz?

There are plenty of reasons why you should listen to Mike. Let me give the top 3:

  1. Mike is an author of multiple bestselling books on entrepreneurship.
  2. His journey from being extremely successful to going bankrupt to rising again is unique and he captures the lessons in his books.
  3. He shares really important lessons on money!
(traditionally) profit comes last. And it's human nature. When something comes last, that's the same as saying that it's insignificant. If you love your family, you'll never say I'm going to put my family last. @mikemichalowicz… Click To Tweet

What You’ll Learn from this Interview?

Mike talks about a lot of things in this interview. Here are specific things you’ll learn:

  1. He tells us what led him to starting his first company (and why you must never do it this way)?
  2. Mike shares the story of him starting a company with a friend from kindergarten (and why he moved out while still being best friends?)
  3. His website is unique and fresh – he talks about why he’s done his website this way (you must check it out!)
  4. He started a “growth accelerator” much before Y-Combinator got started, and tells us why he avoids even mentioning it on his profile.
  5. Mike went on to start a company in an industry he barely knew, and tells us why you should do it too.
  6. He talks about the lowest point in his life, suffering from depression and how his daughter helped him.
  7. He has a link on his website to “American Psychological Association’s website on Controlling Anger” – Why? He explains. (don’t miss this!)

and so much more!

How Can You Listen?

Mike’s interview is available in audio.

Direct Link to Audio

How to Get In Touch with Mike Michalowicz?

Website: mikemichalowicz.com | mikemotorbike.com

Twitter: @mikemichalowicz

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Special thanks to Mike Michalowicz for taking the time to join me this week.

Karthik Vijayakumar

Managing Partner at Design Your Thinking Labs. Storyteller, producer, copywriter, digital marketer, and artist. Helping purpose-driven entrepreneurs and brands. Husband to a makeup artist, dad to a 7-year old.