“Profit is not an event, it’s a habit. Profit happens through small wins, strung together.” – Mike Michalowicz

My guest on the latest edition of the More Human Podcast is Mike Michalowicz.  By his 35th birthday Mike 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, with a new “Profit first” formula. Michalowicz now operates his third million dollar venture, is a former small business columnist for The Wall Street Journal; the former MSNBC business make-over expert; is a keynote speaker on entrepreneurship; and is the author of Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed “the entrepreneur’s cult classic.”

Highlights from our chat include:

• Mike’s “Humbling Moment” with his daughter, and how it changed his life
• What’s wrong with the traditional “GAAP” accounting formula
• Why the “Profit First” formula works with the entrepreneur’s natural behavior
• How Parkinson’s Law works against business owners
• The eye-opening Instant Analysis that can transform your business
• The money management genius of your grandmother
• How setting profit targets is critical to success

My ongoing thanks to Pagatim in Portland for their recording services, and here’s a link to the podcast if you can’t see or use the embed below.

Lead well!