Mike Michalowicz
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Mike Michalowicz
Biography
Mike Michalowicz was dubbed the “top candidate for Patron Saint of Entrepreneurs” by Simon Sinek. He helps small business owners make their businesses more profitable while growing faster through organic marketing, be more effective through systems and create better teams through leadership. Mike is an American business author, children's author, entrepreneur, and speaker. He is the author of eight business books published by Penguin Random House, including All In which is to be released in January of 2024, and two Wall Street Journal Best Sellers. Mike’s book, Profit First has sold over a million copies and continues to reach bestselling lists – because being profitable never goes out of style. His books have been translated into 27 languages. He is also the former host of the "Business Rescue" segment for MSNBC's Your Business, was previously the small business columnist for The Wall Street Journal and hosted the reality television program called Bailout!.
Mike learns through doing. He founded Olmec Systems in 1996 and sold the business in a private equity transaction in 2003. In 2003 he co-founded a computer forensic firm, which was a lead examiner in the Enron scandal. That company was acquired by Robert Half International in 2006. The transaction was valued at $270.million. Mike Michalowicz currently owns seven companies, including a small business investment accelerator called Prosper Group. Michalowicz is co-founder of six additional organizations with exclusive licensing rights to his work.
Mike Michalowicz
Featured Keynote Programs
Profit First
How To Make Any Business Highly Profitable, By the Very Next Deposit
The profit formula is simple: Sales – Expense = Profit. The only problem is, it’s a lie. In his wildly popular presentation, Mike shows why the formula entrepreneurs use to calculate profit actually inhibits it.
Mike then shares a new approach to profit – taking it first – that instantly changes everything. With this simple yet profound change, any business, will become instantly and permanently profitable.
With Profit First you to flip the formula to Sales – Profit = Expenses. Logically the math is the same, but from the standpoint of the entrepreneur’s behavior it is radically different. With Profit First, you take a predetermined percentage of profit from every sale first, and only the remainder is available for expenses.
Take Aways:
• How to implement Profit First
• How Profit First impacts Parkinson’s Law
• How bank balance accounting works – and why it is logical
• How Profit First works with your existing habits, no big changes needed
The Pumpkin Plan
Organic Growth to Stand Out in Your Field
Growing a successful small business is like growing a colossal pumpkin. Plant the right seeds: Don’t waste time doing a bunch of different things just to please your customers. Instead, identify the thing you do better than anyone else and focus all of your attention, money, and time on figuring out how to grow your company doing it. Weed out the losers: In a pumpkin patch small, rotten pumpkins stunt the growth of the robust, healthy ones. The same is true of customers. Figure out which customers add the most value and provide the best opportunities for sustained growth. Then ditch the worst of the worst. Nurture the winners: Once you figure out who your best customers are, blow their minds with care. Discover their unfulfilled needs, innovate to make their wishes come true, and over deliver on every single promise.
Pumpkin Plan: Each year Americans start one million new businesses, nearly 80 percent of which fail within the first five years. Under such pressure to stay alive—let alone grow—it’s easy for entrepreneurs to get caught up in a never-ending cycle of “sell it—do it, sell it—do it” that leaves them exhausted, frustrated, and unable to get ahead no matter how hard they try.
Based on his popular book, The Pumpkin Plan, Michalowicz shares the process that colossal pumpkin farmers use to help grow businesses.
All In
How Great Leaders Create Unstoppable Teams
Cross Generational leadership that will help business owners discover and create more A players. Learn the non-traditional secrets of successful recruiting, a modern twist on job descriptions, and tactics on creating a team that drives your business.
Mike Michalowicz
Featured Book
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
by Mike Michalowicz
Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability.
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 by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that:
· Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances.
· A small, profitable business can be worth much more than a large business surviving on its top line.
· Businesses that attain early and sustained profitability have a better shot at achieving long-term growth.
With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of.
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