Free Exclusive Video Interview - Meet The $360-Million Dollar Man
Mike Michalowics

Ep. 055 - The Profit Prince:
How To Scale Your Business Like A Pro

with Mike Michalowicz of www.mikemichalowicz.com

“Revenue is vanity, profitability is sanity.”

Shoulders Of Titans Podcast Interview #055 with Mike Michalowicz:

Mike Michalowicz is the entrepreneur behind three multi- million dollar companies and is the author of “Profit First”, “The Pumpkin Plan” and what Business Week deemed the entrepreneur’s cult classic, “The Toilet Paper Entrepreneur”.

Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Today Mike travels the world as entrepreneurial advocate speaking to groups just like the Shoulders of Titan’s audience. He is globally recognized as the guy who “challenges out dated business beliefs” and teaches us what to do about it.

Visit Mike Michalowicz’s Website:   www.mikemichalowicz.com

Topics Discussed In This Interview:

  • How to scale your business: How to expand your business using the “4 D’s of scaling”
  • The 2 traits you must look for when hiring new employees if you ever want to scale properly (and also scale profitably) – hint: it’s not skills or past job experience
  • Prospects want the most advanced solutions to their problems, right? Wrong! You’ll find out the more profitable way to sell your solution
  • The single most important lesson you can learn from McDonald’s and the secret they know about getting things done
  • The secret to beating your competition when you’re offering the same product or service as them
  • This one thing kills businesses faster than poor customer service, ineffective products and angry shareholders… COMBINED
  • The Dale Carnegie method to transcend time so your legacy will stay for generations to come… even if you decide to step down right now and retire for the rest of your life
  • Why an obsessive focus on getting more sales might actually be sabotaging yourself and your business
  • What to watch out for when creating your own personal brand, and the embarrassing mistakes you want to avoid
  • BETTER THAN MEDITATION. How the most successful business owners create then execute on million dollar ideas
  • How to keep your business partners happy without overpaying them in cash
  • The brutal “Reverse Golden Handcuffs” that you need to watch out for otherwise your most skilled employees could turn into your worst nightmare
  • And much, much more

Full Transcript of Interview:  http://www.shouldersoftitans.com/interview-with-mike-michalowicz/

Resources mentioned:

Profit First” by Mike Michalowicz
The Toilet Paper Entrepreneur” by Mike Michalowicz
Asana  – project management
Zoho – Billing
ProfitCon

Quotes:

“Once ego takes control of me, stick a fork in me. I’m done.”

“Most people fail to scale because they fail to change.”

“Revenue is vanity, profitability is sanity.”

“I would way rather have a small business that brings in hundreds of thousands and take home $100,000 than have a $2,000,000 business that lets me bring home $70,000.”

“The right sized business will find you.”

“Your lack of resources is often your biggest ally… the lack of education means you don’t know the rules and you become a rule breaker, and that’s exactly what the industry needs.”

“Bigger is not better, different is better.”

“A personal brand is the only brand that cannot be duplicated.”