Info

Wealthy Wellthy Wise

Let’s get to the truth of the matter. Can you live without money? Or your body? Yet, how tough is it to find time (and good help) for managing wealth or wellth?! Let’s make it infinitely easier to care for these 2 essentials of a rich life. Let’s cut through misguided, popular beliefs to get straight to the unconventional, bleeding-edge truths. You don’t have to waste any more time on your quest for the good life. Introducing Wealthy Wellthy™ Wise. Where the good life starts.
RSS Feed
Wealthy Wellthy Wise
2019
November
October
September
August
July
June
May
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
February
January


2017
December
November
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
February


All Episodes
Archives
Now displaying: Page 1
Aug 2, 2019

On this episode of The Wealthy Wellthy Podcast, I welcome guest Mike Michalowicz. Mike is the entrepreneur behind three multimillion-dollar companies and is the author of Profit First, The Pumpkin Plan and what BusinessWeek deemed the entrepreneur’s cult classic, The Toilet Paper Entrepreneur. Profit First is one of my favorite books so I am very excited Mike joined me on this episode.

In this conversation, we take a closer look into Mike's “profit first” model and fiscal responsibility. I have taught so many of my clients about personal finance and how to use the profit that they take from their business into their household, but Mike points out one area entrepreneurs historically fall short is establishing how much profit they are going to take from their business first.

According to the Small Business Administration, 83% of small businesses are in check-to-check survival, and Mike notes that if your business is operating this way, you are not taking care of yourself and likely not listening to what your business is telling you about your margins. Mike speaks from experience on this subject, having evaporated all of his personal wealth at one point in his entrepreneurial journey due to “arrogance and ignorance”, his books and teachings are a guiding light for many new and seasoned business owners getting started on the path to profit.

Be sure to listen until the end as Mike gives us a sneak peek of his newest book, which will be hitting shelves in 2020. The topic surrounds the necessity hierarchy for business progression, which is based on research from businesses both big and small and always includes these steps: (1) Sales process, (2) Predictable profit, (3) Efficiency, (4) Impact, and (5) Legacy.

For show notes and more info visit:

http://wealthywellthy.life/146

0 Comments
Adding comments is not available at this time.