Step-By-Step How To Manage CASHFLOW In Your Business (To Avoid STRESS) w/ Mike Michalowicz, Author of "Profit First"

Action Academy | Replace The Job You Hate With A Life You Love

Brian Luebben

Corporate, Careers, Business, Financial Freedom, Small Business, Entrepreneurship, Biggerpockets, Investing, Millionaire, Real Estate, Passive Income, Alex Hormozi, Commercial Real Estate

5 • 683 Ratings

🗓️ 3 January 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Michalowicz is the Best Selling Author of "Profit First" (REPLAY) Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that...

Transcript

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0:00.0	My mission is to eradicate entrepreneurial poverty.
0:02.5	And what I mean by this is 83% of businesses are in check-to-check survival.
0:08.4	So every book I write, including Profit First, is tackling one of these different elements
0:12.7	and trying to bring a resolution to it.
0:16.0	I think the solution in many cases is contrary to what we think.
0:22.0	Welcome to The Action Academy podcast.
0:26.1	Stand back while I celebrate freedom.
0:28.1	The show where we help you achieve financial independence with the mindsets,
0:33.7	methods, and actionable steps from guests who've already earned their freedom.
0:38.9	The flags of freedom fly.
0:41.9	Choose to do what you want.
0:44.3	What you want.
0:45.1	With who you want.
0:46.2	With who you want.
0:47.2	When you want.
0:48.1	When you want.
0:49.4	With another episode today.
0:51.9	Now, here's your host, Brian Lubin.
0:58.3	Man, oh, man, welcome back to the Action Academy podcast, the show that helps you get rich,
1:03.5	happy, successful, and free with a capital F in your life and business. Ladies and gentlemen,
1:09.4	what is today's show? What are we talking about? Is this an
1:13.7	accounting podcast? Is this a financial advisor podcast? What is today's episode about? It starts with
	...

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