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Fix This Next With Bestselling Author Mike Michalowicz
Mike Michalowicz is the author of Profit First, Clockwork, Surge, The Pumpkin Plan, and his newest release Fix This Next. By his 35th birthday, Mike had founded and sold two companies – one to private equity and another to a Fortune 500. Today he is running his third multi-million dollar venture, Profit First Professionals.
Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Over the years, Mike has traveled the globe speaking with thousands of entrepreneurs, and is here today to share the best of what he has learned.
This was such a fun and enlightened conversation, especially if you are an entrepreneur or someone with a side hustle, or even a budding author. Mike first shared about the four kinds of titles to use when writing your book. They are: a formula title (the answer is in the title), a mnemonic title (associating a typical item with an atypical item makes your title more memorable), a results oriented title (like ‘The Four-Hour Work Week’) and a call to action title (invokes curiosity).
Fix This Next is all about helping you to overcome the biggest challenge for business owners, which is knowing what your biggest challenge is. The formula Mike shares can also be used for your personal life as well as you can easily substitute your health, relationships, finances, etc. We first discussed the Survival Trap exercise. This is where you look at where you are, call that A, and the most important vital thing that needs to happen to ensure survival and thriving in your business, call that B. He shared that most business owners look at too many directions that lead to analysis paralysis, vs figuring out what’s the one most important step needed to move the needle.
Mike then explained that you can equate your business to a hierarchy of core needs (connected to Maslow’s hierarchy of needs), with a similar triangle relating to its basic needs all the way up to leaving a legacy. The triangle base starts with Sales (the oxygen of the business), then profit (allows for stability), order (people, technology, virtual assistance), impact (ability to make transformation) and lastly, legacy (the state where the business can stand alone). Lastly, we discussed the OMEN, which stands for O (clear objectives), M (measurements that qualify and give data), E (evaluation frequency, which many businesses forget to do) and N (nurture the evaluations and tweak from there).
To see where you are in the business hierarchy of needs, you can take Mike’s free quiz at fixthisnext.com.
Connect with Mike Michalowicz
- Facebook: https://www.facebook.com/MikeMichalowicz/
- Instagram: https://www.instagram.com/mikemichalowicz/
- Website: https://mikemichalowicz.com/
- Twitter: https://twitter.com/mikemichalowicz/
- LinkedIn: https://www.linkedin.com/in/mikemichalowicz
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Join host Julie Reisler, author and multi-time TEDx speaker, each week to learn how you can tap into your best self and become your You-est You® to achieve inner peace, happiness and success at a deeper level! Tune in to hear powerful, inspirational stories and expert insights from entrepreneurs, industry thought leaders, and extraordinary human beings that will help to transform your life. Julie also shares a-ha moments that have shaped her life and career, and discusses key concepts from her book Get a PhD in YOU
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