Young and Profiting with Hala Taha
Business:Entrepreneurship
What if you could implement a cash management system today that guarantees profitability, automatically sets aside money for tax season, and ensures you don't overspend on expenses? In this episode, Hala is joined by Mike Michalowicz to break down Profit First, the cash management system that has helped hundreds of thousands of small business owners increase their profits, or generate a profit from day one.
Mike Michalowicz is the entrepreneur behind three multimillion-dollar companies and is an author of business books for entrepreneurs and small business owners like Profit First, Clockwork, The Pumpkin Plan, Fix This Next, and Get Different. Mike is a former small business columnist for The Wall Street Journal and regularly travels the globe as an entrepreneurial advocate. He became a business author with a clear mission: eradicate entrepreneurial poverty.
In this episode, Hala and Mike will discuss:
- What happens when you constrain a resource
- How to think of profit as a habit
- The value of practicing fund preallocation
- The five bank accounts every small business owner needs
- The difference between an ownership salary and profit
- How much money should you put toward profit?
- Why you should compress your operating expenses
- How to pay off debt
- How Relay can help you implement profit first with ease
- And other topics…
Mike Michalowicz is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. Today, Mike leads two new multimillion-dollar ventures, as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and a business makeover specialist on MSNBC. Mike is a popular main-stage keynote speaker on innovative entrepreneurial topics; and is the author of Get Different, Fix This Next, Clockwork, Profit First, Surge, The Pumpkin Plan, and The Toilet Paper Entrepreneur. Fabled author Simon Sinek deemed Mike Michalowicz “…the top contender for the patron saint of entrepreneurs.”
Sign Up For Relay – Our #1 Banking Choice For Small Business Owners:
Relay: https://relayfi.com/profiting
**Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance provided through Evolve Bank & Trust and Thread Bank; Members FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
Resources Mentioned:
Mike’s Book Profit First: https://mikemichalowicz.com/profit-first/
Profit First Instant Assessment: https://s3.amazonaws.com/ProfitFirst/PF-InstantAssessment.pdf
LinkedIn Secrets Masterclass, Have Job Security For Life:
Use code ‘podcast’ for 30% off at yapmedia.io/course.
More About Young and Profiting
Download Transcripts - youngandprofiting.com
Get Sponsorship Deals - youngandprofiting.com/sponsorships
Leave a Review - ratethispodcast.com/yap
Watch Videos - youtube.com/c/YoungandProfiting
Follow Hala Taha
LinkedIn - linkedin.com/in/htaha/
Instagram - instagram.com/yapwithhala/
TikTok - tiktok.com/@yapwithhala
Twitter - twitter.com/yapwithhala
Learn more about YAP Media Agency Services - yapmedia.io/
**Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance are provided through Evolve Bank & Trust and Thread Bank; Members FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.**
Jonah Berger: Magic Words, What to Say to Get Your Way | E218
YAPClassic: Richard Moore on The Laws of Selling | Part 1
Johann Hari: Stolen Focus, Why You Can’t Pay Attention and How to Think Deeply Again | E217
YAPSnacks: Best of Steven Kotler, Flow Master and Peak Performance Expert
Daymond John: Learn to Earn, How The People’s Shark is Raising a New Generation of Financially-Savvy People | E216
Andrea Petersen: Start Investing in Real Estate Today With as Little as $500!! | E215
Donald Miller: How To Make Your First Million, 6 Steps To Grow Your Small Business in 2023 | E214
YAPClassic: Cathy Heller on Radical Empathy and Finding Work You Love
Lisa Bilyeu: How to Cultivate Radical Confidence, Live Authentically, and Become the Hero of Your Own Life | E213
YAPClassic: Donald Miller on Storytelling for Business, How to Clarify Your Message So Customers Engage
Matt Higgins: Burn the Boats, Refuse to Die. Legendary Shark Makes the Case for No Plan B | E212
YAPClassic: Brit Morin on Personal Branding, Entrepreneurship, and Unconventional Creativity
Steven Kotler: Peak Performance Aging, How to Stay at the Top of Your Game in Your 30s, 40s, 50s, and Beyond | E211
YAPClassic: Matt Higgins on Escaping Poverty, Entrepreneurship, and Knowing When To Quit
Erica Dhawan: Digital Body Language, Effective Communication Strategies for the Digital Age | E210
Hala Taha: Game-Changing LinkedIn and Podcast Hacks Nobody Is Telling You (Living The Red Life Podcast)
David Eagleman: The Inside Story of the Ever-Changing Brain | E209
YAPSnacks: Lessons From Nazi Camps, Near-Death Experiences, and Other Life Traumas | Dr. Edith Eger, Donald Miller, Benjamin Hardy, Amy Morin, Colin O...
Elena Cardone: How to Find a Partner, 10X Your Life, and Build a Real Estate Empire | E208
YAPClassic: Heather Monahan on Creating Confidence
Join Podbean Ads Marketplace and connect with engaged listeners.
Advertise Today
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Innovation in Compliance with Tom Fox
Kate’s Take
The Shameless Mom Academy: Motherhood, Motivation, and Mindset Tips for Busy Moms
HORSES IN THE MORNING
Wise Traditions