The Foundr Podcast with Nathan Chan

323: How To Take A Profit-First Mindset During A Pandemic, According to Mike Michalowicz


Listen Later

Mike Michalowicz, Author & Co-Founder, Profit First Professionals

Right now, every entrepreneur has the same question on their mind: how do I recover or maintain my company’s profit levels during Covid-19?

 

That’s why we were so eager to sit down with Mike Michalowicz, who is a serial entrepreneur, author, and creator of the Profit First system. Our own CEO and founder, Nathan, used Michalowicz’s teachings to completely change the way he manages Foundr’s finances. And now we want to bring you the same level of knowledge to help you through these challenging times.

 

In this conversation, Michalowicz shares his best recommendations on how to manage your cash flow, financial priorities, and more during a pandemic. If you have any questions on how to take a profit-first mindset right now, this episode is for you. 

 

If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at [email protected].

Key Takeaways

  • What Michalowicz learned from building and selling his first two businesses
  • How going into bankruptcy changed the way that Michalowicz views entrepreneurship
  • Michalowicz’s path to becoming a small business author, and how running two of his own companies contributes to his books
  • What’s happening during “The Great Big Shift”
  • How to manage cash flow during the pandemic
  • The difference between sales issues vs. profit issues
  • Michalowicz’s tips to organize your financial priorities during Covid-19
  • Why Michalowicz recommends pulling off the bandaid instead of chipping away when it comes to tough decisions
  • An overview of the Profit First methodology and framework
  • Parkinson’s Law, and how it applies to toothpaste
  • Why Michalowicz recommends trusting wallets over words
  • Key Resources From Our Interview With Mike Michalowicz

    • Visit Michalowicz’s website
    ...more
    View all episodesView all episodes
    Download on the App Store

    The Foundr Podcast with Nathan ChanBy Foundr Media

    • 4.9
    • 4.9
    • 4.9
    • 4.9
    • 4.9

    4.9

    562 ratings


    More shows like The Foundr Podcast with Nathan Chan

    View all
    The Smart Passive Income Online Business and Blogging Podcast by Pat Flynn

    The Smart Passive Income Online Business and Blogging Podcast

    3,440 Listeners

    The GaryVee Audio Experience by Gary Vaynerchuk

    The GaryVee Audio Experience

    16,830 Listeners

    Capitalism.com with Ryan Daniel Moran by Capitalism.com

    Capitalism.com with Ryan Daniel Moran

    727 Listeners

    Shopify Masters by Shopify

    Shopify Masters

    379 Listeners

    Entrepreneurs on Fire by John Lee Dumas of EOFire

    Entrepreneurs on Fire

    3,827 Listeners

    Marketing School - Digital Marketing and Online Marketing Tips by Eric Siu and Neil Patel

    Marketing School - Digital Marketing and Online Marketing Tips

    1,264 Listeners

    The Martell Method w/ Dan Martell by Dan Martell

    The Martell Method w/ Dan Martell

    573 Listeners

    The Game with Alex Hormozi by Alex Hormozi

    The Game with Alex Hormozi

    4,457 Listeners

    The Diary Of A CEO with Steven Bartlett by DOAC

    The Diary Of A CEO with Steven Bartlett

    8,522 Listeners

    My First Million by Hubspot Media

    My First Million

    2,654 Listeners

    The Startup Ideas Podcast by Greg Isenberg

    The Startup Ideas Podcast

    205 Listeners

    The UpFlip Podcast by UpFlip

    The UpFlip Podcast

    251 Listeners

    Build with Leila Hormozi by Leila Hormozi

    Build with Leila Hormozi

    927 Listeners

    Moneywise by Hampton

    Moneywise

    660 Listeners

    BigDeal by Codie Sanchez

    BigDeal

    921 Listeners