Profit First and My Money Bunnies with Mike Michalowicz

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Money and finances are delicate topics to discuss whether it’s with our spouse, families, or business partners. The conversation becomes even more difficult when it’s a discussion that needs to be had with our children.

Today, we have one of my favourite authors, Mike Michalowicz — who wrote Profit First, Clockwork, his latest addition My Money Bunnies, and a lot more. (which you can find here)

We talk about how important it is to start money management at a young age, and how you can effectively navigate your business’ financial matters in times of crisis. Tune in and let’s get started.

Resource Links:

• Check out all of Mike’s books through this link (https://mikemichalowicz.com/books/)
• Your Social Voice Website (https://www.yoursocialvoice.com.au/)
• Become the Mogul of your industry (https://www.mogulcall.com)
• Join our Mogul Mastermind (https://www.mogulmastermind.com.au/)

What we discussed in this episode:

Introduction [0:00]

Who’s Mike Michalowicz? [1:18]

The inspiration behind Profit First [5:41]

Behavioural Principle #1: Out of sight, out of mind [8:54]

Behavioural Principle # 2: What you do first, gets done [8:59]

Behavioural Principle # 3: The concept of ownership [9:04]

Mike talks about how important financial education is for children [11:09]

Mike explains the three types of money bunnies [12:13]

The reason why we all tend to miss out on simple financial principles [14:40]

How Mike gets his thoughts from head to paper [16:47]

An overview of the difference in the entrepreneurial landscape for 2022 [19:03]

Mike talks about the shift for small businesses in this “new normal” [21:48]

About Mike Michalowicz:

Mike Michalowicz is the creator of Profit First, which is used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic. In his 2020 release Fix This Next, Mike details the strategy businesses can use to determine what to do, in what order, to ensure healthy, fast, permanent growth (and avoid debilitating distractions). His latest book Get Different (released September 21, 2021) will give you the tools to stand out in any market.

Today, Mike leads two new multi-million-dollar ventures, as he tests his latest business research for his books.

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