#116: Mike Michalowicz—How to Structure Your Business Finances to Maximize Profit

Business Made Simple Podcast

StoryBrand.ai

Marketing, Story, Bmsu, Businessmadesimple, Brand, Business, Bms, Storybrand, Entrepreneurship, 474622, Storytelling

4.8 • 2K Ratings

🗓️ 1 October 2018

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sales minus expenses equals profit, right? Not exactly, according to Mike Michalowicz, our guest on today’s episode.

A lot of business leaders aren’t maximizing their profits because they’re thinking about them as what’s “left over.” He shares his system for structuring your business’ finances so you put the priority on profit. It’s remarkably simple and will help you reshape your entire mindset around how you look at profit and expenses.

http://buildingastorybrand.com/116

Transcript

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0:00.0	Welcome to the Building of Story Brandt
0:08.7	Podcast, where we believe if you confuse you'll lose, noise is the enemy
0:12.3	and creating a clear message is the best way to grow
0:14.8	your business I'm your host Donald Miller I'm joined by my co-host jay-J-P Peterson hi jay jay jay jay
0:20.3	I was gonna see if you were gonna bounce in there with I wasn't I was waiting for you to you were going to bounce in there without the High-J-J.
0:24.0	I was waiting for you to say hi to me.
0:25.0	We are creatures of habit.
0:26.0	A little bit.
0:28.0	Which actually dovetails right into what we're talking about.
0:32.0	Money. Money, money, money, money.
0:35.0	Habits of money.
0:36.4	We have habits that are not,
0:38.5	well we probably have some healthy habits around money,
0:40.7	and we have some unhealthy help,
0:41.9	both personally and business wise
0:44.8	how do you manage your money I know what you make you make truckloads
0:49.7	yeah backing up in your driveway, truckloads of money.
0:55.0	Total truckloads, that's me.
0:57.0	How do you manage it?
0:58.0	Mr. Blingling is what they call me.
1:00.0	Those gold chains.
1:01.0	You can't see them ladies.
	...

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