Episode #215: Running Your Business on Profit First with Mike Michalowicz
Boutique Chat
Ashley Alderson
4.9 • 867 Ratings
🗓️ 4 June 2019
⏱️ 55 minutes
🧾️ Download transcript
Summary
Mike Michalowicz, author, podcaster, speaker, business columnist and TV host, gives us an abundant amount of business tips and his experience in becoming a successful entrepreneur. Todays podcast has an emphasis on "Profit First", teaching business owners how paying yourself first can transform the ecosystem of your business. From the fear and downfalls to transformation and confidence, Mike covers it all! You want want to miss this mindset changing podcast.
Transcript
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| 0:00.0 | I'm so excited for this one today, you guys. Get ready to meet the one and only Mr. Mike McCallowicz, |
| 0:05.2 | the author of Profit First, Clockwork, the Pumpkin Plan, and numerous other books. Not only is |
| 0:11.7 | joining us live today on the podcast, but he's also going to be speaking at the 2019 Boutique Summit. |
| 0:17.5 | Get ready, you guys. This is one of my favorite interviews to date. |
| 0:25.8 | Let's talk about your business, strategy, and the juicy details of what actually works, |
| 0:30.6 | from mainstream fashion to fashion on Main Street and the entire ecosystem behind it. How do we |
| 0:36.0 | scale your company and do it with the balance and the happiness that we all seek? |
| 0:40.3 | Let's hear from those insiders, experts, and strategists that actually make it happen. |
| 0:44.5 | I'm your host, Ashley Alderson from the boutique hub, and I can't wait to chat. |
| 1:00.1 | In case you're a boutique owner who has ever struggled with the question, how can I pay myself more? |
| 1:05.8 | This is going to be an episode you have to take notes in. And if you haven't already read the book, |
| 1:12.6 | I'm going to tell you about in just a second. Make sure it's on your audible or your bookstore wish list right away. |
| 1:18.0 | Now, you've probably heard a lot of talk about profit first inside of the boutique hub as our members talk about the strategy and what it means to pay yourself first. |
| 1:22.5 | And for many of you, actually, what it means to pay yourself, period. |
| 1:26.3 | Because unfortunately today with so many |
| 1:28.3 | boutique owners and really of all sizes, there's this common thread of boutique owners not paying |
| 1:34.1 | themselves or not paying themselves enough and then getting burnt out day after day, putting everything |
| 1:40.2 | they have back into inventory and back into the business and believing this old BS line |
| 1:45.2 | that we were told that businesses can't be profitable in the first five years. Well, guys, it's not |
| 1:49.7 | true. You can be profitable tomorrow, but the point of this entire conversation is you have to |
| 1:55.8 | choose, right? You have to choose that you're going to be profitable and you're going to put yourself |
| 1:59.7 | first and you're also going to grow a business along the way. So if you haven't already read the book, |
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