Ep 3: Mike Michalowicz - Growth Without Profit Kills Businesses

Mike Michalowicz is the bestselling author of Profit First, Clockwork, and Fix This Next. After losing everything early in his entrepreneurial career, Mike developed practical frameworks that help business owners build profitable companies that run without them.Today, he teaches why most businesses grow broke, how owners become bottlenecks, and why financial habits matter as much at home as they do in business. Listen to start learning how to manage both your business and personal finances.EPISODE LINKS:Mike's book, The Money Habit: https://www.amazon.com/Money-Habit-Worry-Free-Financial-Independence/dp/1774586436/ref=sr_1_1Get all of Mike's books: https://mikemichalowicz.com/books/Get my book on Exit Optionality: https://exitoptional.com00:00 Intro and The Profit First Breakthrough03:33 Why Most Businesses Aren’t Profitable05:52 Signs the Owner Is the Bottleneck08:55 Fix This Next: Finding the Weakest Link09:06 Why Businesses Become Commodities11:11 Marketing That Actually Gets Attention12:24 Most People Have No Money System17:33 Managing Money as a Couple20:45 The Lottery Mindset for Income22:36 Avoiding Herd Behavior in Recessions23:16 The Power of Looking Upstream