Mike Michalowicz: Profit First, Transform Your Business from a Cash-Eating Monster to a Money-Making Machine | E219

Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAP Media Network

Education, Marketing, Entrepreneurship, Business, Self-improvement

4.8 • 1.3K Ratings

🗓️ 17 April 2023

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Michalowicz had founded and sold two multi-million dollar companies by his 35th birthday and was confident that he had it made. After he became a small business angel investor, he lost his entire fortune due to a series of bad business decisions. Mike decided to start over, find a way to grow healthy and strong businesses, and eliminate entrepreneurial poverty. In this episode, Mike will break down his Profit First framework. He will also give the rundown on how to create and manage a profitable business. Mike Michalowicz is the entrepreneur behind three multimillion-dollar companies and is an author of business books for entrepreneurs and small business owners like Profit First, Clockwork, The Pumpkin Plan, Fix This Next, and Get Different. Mike is a former small business columnist for The Wall Street Journal and regularly travels the globe as an entrepreneurial advocate. He became a business author with a clear mission: Eradicate entrepreneurial poverty. In this episode, Hala and Mike will discuss: - Why profits should come first - The Profit First Formula - How Parkinson’s Law applies to profiting - Why you should split your money into small chunks - Target Allocation Percentages (TAP) - The way to handle business debt - Why constrained spending brings natural innovation - Why all revenue is not the same - The most effective marketing strategy for small businesses - And other topics… Mike Michalowicz is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. 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 Get Different, 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.” Resources Mentioned: Mike’s Website: https://mikemichalowicz.com/ Mike’s LinkedIn: https://www.linkedin.com/in/mikemichalowicz/ Mike’s Twitter: https://twitter.com/MikeMichalowicz?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor Mike’s Instagram: https://www.instagram.com/mikemichalowicz/?hl=en Mike’s Facebook: https://www.facebook.com/MikeMichalowiczFanPage Mike’s Podcast The Entrepreneurship Elevated Podcast: https://mikemichalowicz.com/podcast/ Mike’s Blog: https://mikemichalowicz.com/blog/ Mike’s Book Profit First: https://mikemichalowicz.com/profit-first/ Profit First Instant Assessment: https://s3.amazonaws.com/ProfitFirst/PF-InstantAssessment.pdf LinkedIn Secrets Masterclass, Have Job Security For Life: Use code ‘masterclass’ for 25% off at yapmedia.io/course. Sponsored By: Shopify - Sign up for a $1 per month trial period at shopify.com/profiting More About Young and Profiting Download Transcripts - youngandprofiting.com Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What's going on, young and profitors?
0:02.5	Registration for my LinkedIn Secrets Masterclass is now live.
0:06.2	You guys may know me as the podcast princess, but I'm also the LinkedIn queen.
0:10.4	I'm one of the top influencers on the LinkedIn platform,
0:12.8	and I've totally hacked the algorithm.
0:14.6	I know it like the back of my hand.
0:16.7	And I also run YAP Media,
0:18.3	which is an award-winning social media agency and the number one LinkedIn marketing agency.
0:23.0	I've created influencers over and over again the last three years.
0:27.0	Now you can learn all the strategies that I use for me and my clients and leverage them
0:31.3	for yourself.
0:32.9	In my LinkedIn Secrets Masterclass, which has raving reviews,
0:36.3	we go over how to develop your personal brand.
0:38.5	I'm going to teach you how to target your audience, how to define your audience,
0:42.6	how to create a visual, compelling brand that actually attracts people and
0:46.4	leverages psychology of design and everything that you do.
0:49.7	I'm going to teach you copywriting hacks, the LinkedIn algorithm,
0:52.9	engagement hacks, and how to convert your following into sales.
0:56.8	Because at the end of the day, we all want ROI from what we're doing on LinkedIn.
1:01.0	If your target audience is on LinkedIn, you need to take my LinkedIn Secrets Masterclass.
1:05.5	So whether you're a corporate professional who wants more job security,
1:08.5	a solopreneur, a freelancer, or an entrepreneur who wants to grow their small business,
	...

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