How to Get Different – In Just 7 Minutes with Michael Michalowicz

 Learn what is the fatal flaw that you should be avoiding when running your own business Find out more about what do clients really want from you and your business and how you can use that secret to attract more promising clients Understand how having that “shareholder” mindset when it comes to handling your business will save you the sweat, attract more clients and make your business better Resources/Links: Wanting to Learn How You Can Grow Your Business and Turn Your Entrepreneurial Dream into Reality? Find out how to avoid burnout and be the best entrepreneur you can ever be: mikemotorbike.com Summary Have you ever yearned for growth in your business but just can’t seem to know where to start? Do you feel so stressed with trying to do everything in and for your business but just see it going nowhere? Are you ready to become the best and authentic business leader you can become? Michael Michalowicz is an author, speaker, and an all-around advocate for small business owners and the entrepreneurial adventure. In this episode, Michael talks about why a successful business starts with a cooperative team and a focused mindset. He also shares how you can overcome that identity crisis and bring your authentic self into your workplace, products, and your clients. Check out these episode highlights: 01:06 – Michael’s ideal client: “My ideal client is small business owners. I call them “micro-enterprises”. These are companies that do less than a million dollars, U.S., in revenue, and are in an underdog position.” 01:52 – Problem Michael helps solve: “The problem is that small business owners feel abandoned, and they’re doing the work. It’s a feeling of overwhelm. It’s a feeling of struggle. And there’s an identity crisis.” 02:39 – Typical symptoms that clients do before reaching out to Michael: “So if it’s, you know, Groundhog Day, after that famous movie where every day is a repeat of the prior day. If you feel like I’m working harder and longer, yet nothing’s working, you’re an ideal candidate to read my books.” 03:31 – Common mistakes that people make before they find Michael’s solution: “The common mistake is to think that, ‘Because I did it, I’m the best to do it.’ ‘Because I had to do my accounting, I’m the best accountant for my business. Because I was doing the service, I’m the best to provide service.’ That is a fatal flaw.” 04:31 – Michael’s Valuable Free Action (VFA): “I’ll give you something that I think can cause a radical shift and it’s one word, call yourself a “shareholder”. That’s the word. “Shareholder” of a small business.” 05:46 – Michael’s Valuable Free Resource (VFR): Check out Michael’s Website: mikemotorbike.com 07:09 – Q: What do clients want from us most? A: They want you to be profitable and wildly profitable. Now, here’s the caveat. They will never say that. Tweetable Takeaways from this Episode: “Don't fall victim to believing that you're the best suited to do it. I would argue, the number one job of an entrepreneur is to provide jobs, not to do jobs.” -Michael MichalowiczClick To TweetTranscript (Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast) Tom Poland 00:10 Greetings, everyone, and a warm welcome to another edition of Marketing the Invisible. I’m Tom Poland, beaming out to you from little Castaways Beach in Queensland, Australia, joined today by Mike Michalowicz. Mike, good day. A very warm welcome, sir. Where are you hanging out? Michael Michalowicz 00:23 Good day! It’s a pleasure to be with you. I am in New Jersey, right outside New York City. Tom Poland 00:28 Okay, Eastern, so you’ve just gone 5 pm over there, just gotten 7 am here tomorrow. Last night was great by the way, Mike. You’re gonna love it! For those of you who have been hiding in a cave and haven’t heard of Mike, he’s an author, speaker. He’s an all-around advocate for small business owners and the entrepreneurial adventure. He has one of the most interesting websites you will ever go to, which is- because it’s different, and we’re going to get to that. But Mike’s a guy who walks the talk. He’s all about being different. And that is the title of our little interview today, “How to Get Different”. Mike can share with you how to do that in just seven minutes. Mike, our time starts now. Sir, question number one is who is your ideal client? Michael Michalowicz 01:06 So my ideal client is small business owners. I call them “micro-enterprises”. These are companies that do less than a million dollars, U.S., in revenue, and are in an underdog position, meaning they don’t have the experience or the background or the network for their business. And they’re in the fight to grow a business. That’s my people. Tom Poland 01:25 Right. Perfect! Under a million, small, micro, U.S. You go outside of New York- Michael Michalowicz 01:32 Yeah, I have an office in Brisbane. So we have locations throughout the globe. We have four offices. We have one in Melbourne. We have one in the Netherlands. And another one in Germany we’ve opened up in Munich. Tom Poland 01:46 Wonderful! So working well, global reach. Tell us about the problem you solve, Mike. We’ve got six minutes left. Michael Michalowicz 01:52 Yeah, so the problem is that small business owners feel abandoned, and they’re doing the work. It’s a feeling of overwhelm. It’s a feeling of struggle. And there’s an identity crisis. They went into business to fulfill a dream of financial freedom or personal freedom, and that’s the two things that aren’t being fulfilled. They’re stuck in a struggle, and it feels, for my readers, like there’s no way out. Tom Poland 02:17 Right. And so it’s kind of like on the hamster wheel, just running hard or running fast. Michael Michalowicz 02:21 Yeah, that the only way to grow is by working harder and longer. That is actually not the way to grow, but that’s the compulsion they have. Tom Poland 02:27 Right. That’s probably all they know. So tell us, then, about the symptoms. Question three, five and a half minutes left. So can you describe it more, what’s going on in this person’s life or their business that kind of gives them a heads up that they should find out more about how you do it? Michael Michalowicz 02:39 Yeah, so if it’s, you know, Groundhog Day, after that famous movie where every day is a repeat of the prior day. If you feel like I’m working harder and longer, yet nothing’s working, you’re an ideal candidate to read my books. I find that the solutions are radically simple and often unexpected. But just working more to grow your business is not the solution. If you feel you’re in that trap, I can definitely serve you. Tom Poland 03:03 Radically different but surprisingly simple. I love the combination of that! So tell us more- so working harder, working longer, there are probably cracks in their health and their relationships, even, because they’re just pouring blood, sweat, and tears into their business. But they clearly feel that there has to be a better way. They’re going to try stuff. They’re entrepreneurial. They’re growth-oriented. They’re gonna try stuff. They’re gonna make some mistakes. So question four is and four and a half minutes left, what are some of the common mistakes that you see people making out there before they find your solution? Michael Michalowicz 03:31 The common mistake is to think that, “Because I did it, I’m the best to do it.” “Because I had to do my accounting, I’m the best accountant for my business. Because I was doing the service, I’m the best to provide service.” That is a fatal flaw. It’s the “Can do” syndrome. “Because I’ve done it, I can do it.” But, you shouldn’t do it. So we need to change that identity. Sadly, the terms “entrepreneur” and “business owner” become bastardized to hustle and grind. Meaning, if you’re gonna be successful, you got to work harder and longer. And we’re absorbing that. So don’t fall victim to believing that you’re the best suited to do it. I would argue, the number one job of an entrepreneur is to provide jobs, not to do jobs. Tom Poland 04:12 Aw, beautiful! The number one function of an entrepreneur is to provide jobs, not do jobs. That would make the world a better place, including the life of the entrepreneur. Let’s go to question five, Mike, and three and a half minutes left. One valuable free action. It’s kind of like a top tip or a step in the right direction. It’s not going to solve the whole problem, but it might get folks started. Michael Michalowicz 04:31 Yeah, I’ll give you something that I think can cause a radical shift and it’s one word, call yourself a “shareholder”. That’s the word. “Shareholder” of a small business. We call ourselves entrepreneurs and business owners. As I said, there’s a perception that means you have to do the work yourself. But a “shareholder” of a business doesn’t do the work. They collect profit and they render opinions. I own stock in a large company. I’m a shareholder. I give strategic direction through votes, and I share in the profit. We are all shareholders in our own small business. Maybe we even own 100% of the shares. Therefo...