Wake UP! Ep. 21 - Finding the Profit in Your Life with Mike Michalowicz
Today is officially the relaunch of my podcast WAKE UP! Each week I talk to people about the moment in their life that caused them to Wake UP and start living life to their highest and fullest potential; a life aligned to their purpose and passion. After a near death accident in 2002, I woke up to discover that my life path was forever altered. I left nearly 20 years of building my production company and corporate training business and embarked on a journey of self-discovery, healing and making a massive impact in a completely different way. I learned that I was not given a second chance just to leave a legacy, I was given the opportunity to create a dynasty. Working with incredible leaders in their lives, businesses and communities, Wake Up! is a call to all people to wake up to their unique one-of-a-kind gifts and pay it forward.
In this brand new episode, I have the pleasure and privilege to share my mind-expanding conversation with none other than the great and mighty Mike Michalowicz, author of Profit First (and many other incredible books that you don’t want to miss). Mike’s books, trainings and Profit First University is contributing massive value to my growth and my entrepreneurial success. As a Certified Profit First Professional, I am creating programs and offerings so that I can spread the wealth and knowledge that are at the core of Mike’s mission to eradicate entrepreneurial poverty, and does he DELIVER!
In this Episode of Wake Up!, Mike shares that his greatest lesson came out of a WAKE UP moment with his 9-year old daughter and he shares the story of what shifted everything for him so he could not only get out of his own debt but go on to change the lives of thousands of people who have implemented Profit First into their businesses.
I absolutely loved speaking with Mike and got some surprising answers to questions about business growth, mindset, organization and what to focus your energy on most to win.
For the past 15 years my husband Jan and I had done everything we could to get out of debt that had followed us from the mountain of medical bills incurred from each of our near death experiences. No matter how much money we made, it was never enough. We tried every course, training, book we could get our hands on, marketing that it would be the answer and again and again the system or the advice did not work. Then, one day, listening to one of my favorite podcasts, Smart Marketer, Molly Pitman introduced Mike Michalowicz and I knew his system was the answer. He didn’t talk about just another structure, he talked about a NEW WAY OF BEING ABOUT MONEY. Literally, psychological behavior shift that literally has changed the trajectory of our lives, our businesses and surprisingly, our marriage.
If you are ready to embark on your own journey to financial abundance, no debt and PROFIT FIRST, then tune in and take notes.
We have already helped 100’s of people transform their money story and get out of debt with our brand new Profit Mastery Program. If you are ready to be our next SUCCESS STORY, just like we were, then click on this link and join our upcoming Profit Mastery Program.
We guarantee your behavior and mindset will shift and you will be on your way to financial success and freedom.
“Only 7% of the world’s population are business owners and entrepreneurs, 93% want a good reliable job. 7% us… we’re weirdos. I don’t know what happened in our brain to say let’s do this, but our job is to give the other 93%, the normal people, something that is predictable.”
SHOW NOTES
5:10 - Mike loves to talk about “The Land of Permanent Profit”. Once you get out of debt and know how to change behaviors and implement systems you are officially in the Land of Permanent Profit.
6:16 - Mike’s Wake Up MOMENT story
6:25 - Self-made Millionaire by early 30’s. On top of the world and so arrogant and then… It all came crashing to a halt.
7:00 - Mike lost everything, logically he thought he could get out of it, but emotionally he was in denial and had been lying by omission.
7:45 - Moment when his daughter ran out of the room in tears only to surprise Mike with what she did next…
8:10 - Shame - Anger and hatred towards himself, pride in his daughter’s perspective, but unable to reconcile inside himself turned to depression for 2 years
8:35 - Mike’s Mission - Eradicate Entrepreneurial Poverty so people never have to go through what he went through
9:30 - Two biggest things that we don’t get when we start a business are the very things we started it for - Financial freedom and personal freedom (Book - Clockwork)
10:30 - The way we are programmed to believe how to do life - get a job out of college… Mike couldn’t get a job so he went into business for himself
11:15 - Mike defines Entrepreneurship and shares how redefining his Why continues to inspire his Mission
11:45 - When your answer to the question, ” What would you do if you had all the money in the world or no money in the world? Is the same, you know that it is a calling you may wish to follow.
12:22 - It is a privilege for Mike to meet with and service entrepreneurs. Grateful that when his books can make even a fraction of an impact in someone’s life it is a privilege.
13:47 - Mike challenges the idea of hustle and grind and pivot. The original definition of Entrepreneurship is someone who has a vision and takes risk to bring that vision to fruition. It’s been bastardized that Entrepreneurship is to hustle & grind and it’s not true. Mike shares what he defines it to be.
14:55 - Mike suggests we shift our definition of Pivot. We are constantly pivoting/adjusting to our customers needs without adjusting to our own needs. Then we can get resentful and lose sight of why we started what we are doing in the first place.
15:23 - Mike proposes we shift into ALIGNMENT and find the community that is in alignment with us and a shared vision.
16:47 - Mike has a special talent to refine complex ideas into simple concepts so people can adopt them and implement them easily. This is the key to making the concepts in his books easy to understand and easy to use.
19:10 - The biggest danger of entrepreneurial growth is the belief that we can do everything and we must do everything. Mike shares suggestion on what to do instead.
21:50 - Mike shares a summary of his books and the mindset behind their impact in life, business, money and success.
27:25 - Final Question: What is the one piece of advice Mike gives for someone to get crystal clear on what is next for them to find that joy, peace and freedom in their business and life?
