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Episode Info:

By his 35th birthday, Mike Michalowicz had founded and sold two multi-million dollar companies. Confident that he had the formula to success, he became an angel investor and proceeded to lose his entire fortune.

Then he started all over again, driven to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the Profit First Formula, a way for businesses to ensure profitability from their very next deposit forward.

Mike is now running his third million dollar venture, is a former small business columnist for The Wall Street Journal; is the former MSNBC business makeover expert; is a popular keynote speaker on innovative entrepreneurial topics; and is the author of Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed the entrepreneurs cult classic.

What you’ll learn about in this episode:
  • Mike’s Pumpkin Plan system and the specific processes it includes
  • The lessons Mike learned from being an angel investor
  • How to determine whether a seed is strong and has potential
  • How to match the uniqueness of an idea with the demand
  • How to put a value on each client based upon the cringe or crush factor
  • The importance of focusing on a few strong ideas rather than many weak ideas
  • How to promote explosive growth
  • The critical questions that every business owner should ask their best customers
Ways to contact Mike:

A transcript of this episode is available here:

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