March 05, 2024

Episode 40 - Building Unstoppable Teams - Mike Michalowicz

27 minutes

Mike Michalowicz, author and entrepreneur, shares insights on building profitable businesses and creating unstoppable teams. He emphasizes the importance of value-based pricing, paying yourself as a business owner, and hiring and delegating effectively. Mike also discusses the evolution of small businesses in the digital age and highlights common mistakes made by small business owners. He introduces his latest book, 'All In,' which provides strategies for building teams that are fully committed to the success of the business.

Takeaways

Value-based pricing is a powerful marketing tool that can attract quality customers and increase perceived value.
Paying yourself as a business owner is essential for building a sustainable business and avoiding dependency on being the 'free guy'.
Hiring and delegating tasks, even on a small scale, is crucial for business growth and allows the owner to focus on strategic activities.
Word-of-mouth marketing is valuable, but businesses should also have a disciplined marketing strategy to attract new customers.
Small businesses have evolved with the rise of online platforms and info marketing, offering new opportunities for growth and competition.

Chapters

00:00 Introduction and Background
01:22 Superhero Backstory
04:11 Learning for Teaching
05:08 The Impact of Profit First
06:04 Value-Based Pricing
08:01 The Role of an Entrepreneur
09:27 Building and Managing Teams
10:54 Paying Yourself as a Business Owner
12:46 Hiring and Delegation
14:09 The Power of Pricing
21:12 Mistakes Small Business Owners Make
24:57 All In Book and Resources

By his 35th birthday MIKE MICHALOWICZ (pronounced mi-‘kal-o-wits) had founded and sold two multi-million dollar companies.

Confident that he had the formula to success, he became a small business angel investor… and proceeded to lose his entire fortune. Then he started all over again, driven to find better ways to grow healthy, strong companies. Mike has devoted his life to the research and delivery of innovative, impactful entrepreneurial strategies to you.

Mike is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. In Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions). Get Different will give you the tools to stand out in any market. Mike’s upcoming release All In (released January 2024) shows you how to build unstoppable teams where everyone wins.

Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journaland business makeover specialist on MSNBC. Mike is a popular main stage keynote speaker on innovative entrepreneurial topics; and is the author of All In, Get Different, Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan The Toilet Paper Entrepreneur and My Money Bunnies.

Fabled author, Simon Sinek deemed Mike Michalowicz “…the top contender for the patron saint of entrepreneurs.”