Profitability, Money Habits & Entrepreneurship

Joining us today is bestselling author, Mike Michalowicz, to tell us about his upcoming, and most personal book yet, The Money Habit. Mike shares how past failures led him to rethink profitability, creating the Profit First system, now used by over a million businesses. He expounds on the “four-week vacation test” from Clockwork, and how most entrepreneurs mistakenly equate growth with success, and how to break through the marketing noise by doing the opposite of what everyone else is doing.

Mike introduces his unreleased book, The Money Habit, and how it came about as a solution for entrepreneurs and employees who struggle with managing money at home. He shares how using a simple system for building savings to meet needs, wants, and dreams can help couples eliminate resentment, gain clarity, and build confidence. It’s important to define your goals early and save intentionally. Real freedom isn’t about waiting for retirement—it’s about making work optional by building margin and purpose into life today.

Minute Markers:

01:43 – Intro to the conversation with Mike Michalowicz.
03:36 – The story behind Mike’s first book, Profit First, and why growing as fast as possible isn’t profitable.
05:20 – The Clockwork business fire-drill of the “4 Week Vacation”.
07:09 – Signs that the owner is the bottleneck in the company.
08:43 – Fix This Next – How the book addresses identifying what order to fix problems in.
11:17 – Differentiation vs being a commodity – Mike’s Get Different Book on standing out.
13:55 – Mike’s upcoming book – The Money Habit – delves into personal and business finances.
16:05 – Getting spouses on the same page with personal finances, without resentment.
21:04 – How Mike decides what to write next.
23:29 – What mindset can do, and why you’ve already won the lottery.
24:46 – The greatest urgency: why entrepreneurs need to avoid herd mentality.
27:45 – Discussing vision and freedom, and building it for your family.

If you like this episode, here are more episodes we think you’ll enjoy:

Ep #535 – Mark Drager – Reinventing Business and Brand Strategy From Collapse to Clarity
Ep #519 – JM Ryerson – Leadership that Creates Growth, Profit and Results

Featured on the Show:

Mike Michalowicz Website | LinkedIn
The Money Habit Book
Pre-Order the book on Bookshop.org
Request the Path to Freedom Newsletter
Find your personal Freedom at our October Event! Request Your Discovery Call

#MikeMichalowicz #profitfirst #getdifferent #profitability #personalfinance #moneyhabits #autonomy #freedom #liveyourbestlife

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