The Profit Junkie Podcast – Mike Michalowicz

Jake Randall

The Profit Junkie Podcast with Jake Randall – Episode 036 – Mike Michalowicz

Mike Michalowicz is an author, entrepreneur, and lecturer.

To date, he’s written seven business books including Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan, and The Toilet Paper Entrepreneur.

In this episode, we discuss how to make your business more profitable (instead of just creating more revenue and growing with nothing to show for it.)

Some topics of interest we cover during our conversation:

  • Why Mike has SEO in mind when he’s trying to decide on the title of his book.
  • How he started writing books to “scratch his own itch,” but then realized that other people were having the same problems. 
  • The best business advice Mike’s ever received. (Hint: Actions speak louder than words, and money is the ultimate decider.)
  • The truth about how congruent your business is with your lifestyle…and why making half-a-million dollars a year may be better than making a million dollars a year.
  • The reason you should avoid the “grow at all costs” mentality. 
  • Why internet domain names are like modern 1-800 numbers.
  • How to ensure that you own your business instead of your business owning you.
  • Ways to identify what needs to be fixed in your business, and how to go about fixing it.
  • How long your business should be able to operate smoothly without you (probably not what you’d guess!).
  • Why sales are like air, but profits are the absorption of that air. And why focusing solely on sales is like hyperventilating.  
  • How to use O.M.E.N. to improve profits in your business.

O – Objective
M – Measurement
E – Evaluation (frequency of when we check in on our goals)
N – Nurture

Connect with Mike: (Take the assessment discussed on the podcast.)

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