In today episode, we are in conversation with Danielle Mulvey, a flight attendant turned serial entrepreneur. With over 25 years of experience in the business world, she has built a portfolio of companies that generate an impressive $50 million in revenue each year. As a partner of Profit First author Mike Michalowicz. (Buy book here) Danielle is passionate about helping other entrepreneurs improve their profitability and grow their businesses. She even hosts their official podcast, where she shares her insights and experiences with listeners. In this podcast, we hope to do the same, and learn more about this transformative cash management approach!

Key Takeaways

#1 Profits should not be an afterthought

Instead of waiting until the end of a period to calculate profits, the profit-first approach focuses on setting profit goals at the beginning of the year and adjusting expenses accordingly. By doing this, your business can become more efficient and effective, making the most of the resources available to you.

Time Stamps

2:00 – 2:43

Danielle shares how she met her business partner, Mike Michalowicz, and what it's like working with him.

2:50 – 4:36

Danielle draws parallels between flying planes and running a business, revealing how following a set process can ensure safety and success. So, fasten your seatbelt and prepare for takeoff!

4:47 – 9:30

Have you heard of the Profit-First approach? If not, get ready for a mind-blowing Jedi trick that can help you control your expenses and increase your profits.

10:14 – 11:20

Get ready for a lesson in business strategy that takes inspiration from an unexpected source! Danielle reveals how the Profit-First approach is based on Parkinson's Law.

14:00 – 17:38

Do you know what often goes wrong when you delegate your finance functions to employees? Danielle has the answer, and it's a game-changer for any business looking to thrive.

17:52 – 21:26

Do you know which item dominates the lion's share of your expenses? The answer may surprise you, but Danielle has the key to minimizing it: a top-notch recruitment process!

21:48 – 27:00

Do you struggle to hire and retain top talent? If so, Danielle has a game-changing solution for you: clear and measurable goals for your employees.

27:09 – 30:19

Danielle shares her 5-star employee rating system; a holistic approach to identifying top performers and cultural fits for your venture.

31:04 – 33:54

Danielle shares her surefire way to ensure that you bring on board the right people for the job. Sure, it might cost a bit more in time and money during the recruitment process, but trust us, it'll save you a ton in the long run.

Let’s Connect

Simply send a WhatsApp message to +19097411321 mentioning "ProfitFirst" to get your hands on the exclusive guide on How To Implement Profit First.

Danielle Mulvey | Official Website

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