Profit First Nation

By Danielle Mulvey and Mike MichalowiczBusiness Entrepreneurship Management

Profit First Nation episodes

October 21, 2021 Ep. 80: Profit First Q&A: Cost of Goods Sold, Debt-Servicing, and Personal Finances
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

Whether you're just starting with Profit First or need help with implementation, we've got you covered. Tune in for valuable insights and remember, YOU’VE GOT THIS!
21 min
October 14, 2021 Ep. 79: Maximizing Profitability through Probability and Efficient Action
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

In this episode, we explore the importance of probability in achieving long-term profitability in business. Our guest emphasizes the need to let a proven system work while spending brainpower on differentiation from competitors.

We also discuss the significance of starting over and adjusting rules to fix past mistakes and focus on actions that will lead to future profitability. Tune in for valuable insights on maximizing profits and running a successful business.
25 min
October 07, 2021 Ep. 78: The Secret to Maximizing Profitability: Understanding Your Return on Payroll
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

In this episode, we dive into the importance of understanding your "Return on Payroll" to achieve maximum profitability and growth in your business.

Our guest emphasizes the need to define success with measurable numbers and to watch payroll expenses, especially as the business scales. We discuss the impact of hiring average employees versus 5-star employees and how it can significantly affect payroll costs.

Tune in for valuable insights on how to maximize profitability and scale your business successfully.
23 min
September 30, 2021 Ep. 77: Pumpkin Plan Your Way to Finding Your Business Sweet Spot
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

Tune in for valuable insights on how to operate your business in your sweet spot and achieve long-term success.
22 min
September 28, 2021 Ep. 76: Protect Your Business from Embezzlement with These 5 Low-Tech Tips
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

In this episode, we are joined by Certified Profit First Professional and CPA, Denise Grove, as she shares a harrowing tale of how embezzlement by a receptionist led to a business owner facing foreclosure on their properties.

Our guest emphasizes the importance of not abdicating accounting and bookkeeping tasks and shares five low-tech tips to thwart embezzlement, which happens in 30% of small businesses. We discuss the need for business owners to stay vigilant and take preventive measures to protect their business from financial fraud.

Tune in for valuable insights on how to protect your business and avoid falling victim to embezzlement.
31 min
September 16, 2021 Ep. 75: Demystifying Profit First Terminology with Billie Anne Grigg
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

In this episode, we are joined by Billie Anne Grigg as we discuss how to understand the jargon of Profit First, specifically in chapter 3 of the book.

Our guest provides insights from both a traditional accounting/bookkeeping perspective and a Profit First cash management perspective to help readers overcome terminology hang-ups. We also reference a previous episode on cash management versus accounting for more in-depth subtopics.

Tune in for valuable insights on how to navigate Profit First terminology and achieve financial success in your business.
23 min
September 09, 2021 Ep. 74: Opt-In for Our Bootcamp and Learn How to Objectively Rate Your Employees
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

Our guests emphasize the importance of not settling for average or ho-hum employees and provide valuable insights into how to find and retain great talent.

22 min
September 02, 2021 Ep. 73: Maximize Your Pricing for Profitability: The Link Between Pricing and Margin
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

In this episode, we explore the link between pricing and profitability in a business. Our guest emphasizes the importance of maximizing pricing to achieve a healthy margin, which is a critical factor in overall profitability.

We discuss how premium service dictates premium pricing and the need to resist the temptation to serve everyone with your products or services. Instead, it is important to focus on ideal customers who value your premium service and are willing to pay for it. We also touch on the topic of resistance and balking on premium pricing, which can serve as a filter to identify your ideal customers.

Tune in for valuable insights on how to set your pricing strategy to achieve maximum profitability.
27 min
August 26, 2021 Ep. 72: When, Why & How to Work with a Consultant: Insights for Business Owners
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

Our guest discusses when, why, and how to work with a consultant of any kind and variety, emphasizing the importance of aligning with a consultant who has experience in your industry and a proven track record of success. We also touch on the common misconceptions about working with consultants and how to overcome them.

23 min
August 19, 2021 Ep. 71: Fixing Your Profit Level: 22 Assessment Questions You Need to Ask
Profit First Nation is brought to you by HighLevel. Fans of the podcast can get an extended 30 Day Free Trial by visiting: https://www.gohighlevel.com/profitfirstnation
To subscribe to the Build Your Dream Team secret podcast, just head over to this link: 5staremployeehiringsystem.com/build-your-dream-team-subscribe and fill out the form to gain exclusive access! 🌟

If you're looking to maximize your profits and take your business to the next level, this episode offers practical insights and guidance to help you assess and address the key areas impacting your profitability. Tune in to learn more and start fixing your Profit Level today!
24 min

About Profit First Nation

From the publisher's feed

Welcome to Profit First Nation, the podcast that helps you achieve permanent profitability in your business by taking action to implement Profit First right. Hosted by Danielle Mulvey, a Profit First expert, and Mike Michalowicz, the author of Profit First, this podcast is for the top 17% of entrepreneurs who have cash in the bank to correlate with their profitability.

On the podcast, we dive into advanced Profit First strategies by sharing the honest and authentic ups and downs of being a business owner. Each episode provides information for entrepreneurs focused on taking the right steps and seeking appropriate advice from professionals in accounting, legal, tax, or other relevant areas. You’ll also hear transformational stories from business owners who have turned their businesses from cash eating monsters to money making machines with cash in the bank to correlate to their profitability by implementing the Profit First System.

With a focus on intelligent entrepreneurship, Profit First Nation guides you on how to take ownership of your finances and leverage Profit First as a DIY cash management system to make your business permanently profitable.

If you're a fan of Profit First and Mike Michalowicz, this is the podcast for you. Join a in on our community of successful entrepreneurs driven to be permanently profitable, with a grit and growth mindset that lets no obstacle stand in the way in pursuit of the three Ps: passion, profit, and play.

https://www.profitfirstnation.com

ABOUT THE HOSTS

Danielle Mulvey:

Danielle Mulvey is a former flight attendant-turned entrepreneur and the owner of multiple businesses doing $50-million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals in the world, and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal Best Selling Author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40-million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She has the ability to personally guide business owners to achieve maximum profitability in their business based on her 25-years experience of being an entrepreneur who has been there and done that.

Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams.

https://www.daniellemulvey.com

linkedin.com/in/danielle-mulvey-66a315

theallincompany.com

profitfirstnation.com

Mike Michalowicz:

Mike Michalowicz is an entrepreneur and New York Times and Wall Strett Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next, and Get Different. BusinessWeek called Toilet Paper Entrepreneur a business cult classic. His books have been translated into 10 languages and Mike has had the privilege to speak on stages all over the world because of his passion to connect with entrepreneurs.

As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitabably to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy, Provendus Group, and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.

linkedin.com/in/mikemichalowicz

MikeMichalowicz.com

ProfitFirstProfessionals.com

mikemichalowicz.com/books/

MikeMichalowicz