Most Shopify entrepreneurs don’t fail because of bad products or weak SEO. They fail because of one thing: they run out of money. In fact, 83% of businesses are not profitable, and yet the majority of Shopify stores never stop to address this until it’s too late. In today’s episode, I sit down with bestselling author Mike Michalowicz (Profit First, Clockwork, The Money Habit) to talk about eradicating “entrepreneurial poverty.”

We dive into money habits, why hustle culture is a scam, and the practical systems every Shopify store owner needs to build a sustainable business. Trust me — if you think profit is something you’ll “hit” one day, this episode will change the way you see entrepreneurship forever.

Key Take-aways

Why most Shopify businesses fail, and why it’s rarely because of the product.

The Profit First framework and why profitability isn’t an event, it’s a habit.

How founder burnout and poor money habits destroy great stores.

Why removing yourself from the business (Clockwork method) is a true measure of success.

The importance of constraints in sparking innovation and efficiency.

Why small business isn’t just the backbone of the economy — it IS the economy.

Resources & Links Mentioned in the Show

Omnisend - I personally use Omnisend for every Shopify store I manage! I’ve tried them all and Omnisend is hands down the easiest way to set up email and sms automations and campaigns, leverage segmentation to personalize them, and A/B test everything to optimize conversion. The push notifications and gamified email collection tools are just the icing on the cake 🤌

(plus most report paying about half the price of Klaviyo 🤫)

🚨Listeners (YOU) get an exclusive 30% OFF for 3 MONTHS: https://shopify1percent.com/omnisend

Bold Commerce - Maximize your Shopify sales with Bold's suite of powerful apps. From AI Upselling, to powerful Subscriptions, Memberships, and VIP Pricing tools, Bold has everything you need to Maximize your Shopify revenue!

Try Bold apps for free here: shopify1percent.com/bold