Mike Michalowicz's Blog, page 23

One Way to Get Through the Recession – Forge Your Own Path



Ask yourself this question, and answer it honestly:

Do you have tunnel vision?

Small business owners are focused on the end game. Makes sense. And you likely have a system you follow to get results. 

But, in this recession, plowing ahead and repeating the same strategies you’ve implemented in the past may not drive the same profitability in your business.

How about forging a new path, and increasing your chances of reaching your small business goals?

My friend Tuesday P. Brooks offered me a prime example of thinking outside of the box in order to create more profitability. Tuesday is a Profit First Professional and owner of AJOY Management Enterprise, a financial management advisory service that she founded years ago. Her mission is to foster the growth of financially-sound women-led companies by helping them understand bookkeeping and accounting more clearly. Aside from the advisory aspect of her business, Tuesday has also created a business academy, called The Phindiwe Business Academy. Tuesday’s academy provides education to young women in finance who want to grow their careers. She took her financial advisory knowledge and married it with her mission to help women prosper in a new, and very effective way. 

By completing the certification, students increase their employability. And, out of her first twelve graduates from Spring 2022, Tuesday was able to hire three of them for her own organization. So, she’s helping women become more employable, and creating a recruiting pool of her very own. Brilliant!

Tuesday created a new product based on knowledge that she is already a pro in. Is there a facet of your business that you too can into an offering? 

Whatever challenge you’re facing, remember it’s not just a challenge, but an opportunity. If one door closes or the path you’re on ends up on weeds, create a new door. Forge a new path. You never know what discoveries are ahead that you can implement in your business. You may even help others along the way.  

I’m so excited to be on this journey with you. Thanks for letting me tag along. 

You’ve got this!

-Mike

The post One Way to Get Through the Recession – Forge Your Own Path appeared first on Mike Michalowicz.

8 Ways to Find Happiness and Joy at Work



“Choose a job that you love, and you will never have to work a day in your life.” – Confucius

Yeah. About that. 

As entrepreneurs, you set out to create a business which consists of something you love to do. This thing is a service to others. This thing makes you tick. You’re good at it. You love to see it thrive and improve the lives of others.  

You should derive happiness from your business, according to Confucius, every day.

The reality? Look. You’re human. Not every aspect of every task is fun, or even fruitful. I compare it to exercise. Of course I’m grateful to have the health to work out, and the results bring me joy. But man, are there some days I just don’t “feel” it. 

Your work tasks are no exception. And for added pressure, there’s a societal expectation that we’re supposed to be happy every day. I believe in a positive mindset. At the same time, you’re allowed to not be artificially happy with every aspect of your jobs. Even the best job is still work!

One of the many challenges the pandemic brought about has been The Great Resignation. After the shut down and virtual work models, there was a chance for people to take a 360 degree view of what was going on in their lives. That went for their livelihoods too, which isn’t surprising considering how many waking hours are spent there. This led to a reframing of expectations from work, and many people quit their jobs in exchange for others that were more fulfilling, and just plain made them happier. 

Awesome!

But what about the business owners? Most of you can’t just up and leave your business. 

So how do you find the joy in your day, even when challenges are putting a pin in your big, colorful balloon?

How to be happy at work:

A mindset of gratitude – When I take a moment to meditate on what I’m grateful for, my energy tends to be more positive and lean into those areas.Remember your purpose – While the ho hum tasks are flying around, keep an eye on why you started your business in the first place. Keep commitments – It’s easy to say, “Yes!”. You’re likely a go-getter. At the same time, it’s difficult to fulfill commitments if you overextend yourself. And over extension leads to stress, and potentially a halfa#$ service.Celebrate the small wins. You don’t have to land a huge deal every day. The grind, while often monotonous, is all part of the journey.Clean it up – Create a workspace that you love. Clear your desk, have the least amount of clutter. Get organized. Add a dream board or art that represents your purpose and what you’re working toward. (We also play music, have a diffuser, incense, good coffee…and someone, and I’m not mentioning names here, is a pretty good prankster.)Audit – oh that sounds joyous, right? But, if you audit your systems, you will find redundancies and linchpins that you can eliminate, therefore leading to more efficiency, simplicity, time – and voila! Joy.Create good working relationships – My team has told me they love working together. It reflects in how they interact. It’s truly one of the huge ingredients in the secret sauce. And, serve each other at work – help each other out. It will come back to you. You’ll learn from your colleagues’ systems and responsibilities too. Do your R&D – on you! Never stop researching and developing yourself personally and professionally. This has been a huge key for my team, and me. Make sure you’re doing something (a hobby, travel, exercise, reading, in your personal life to balance out your work life.

You don’t have to be an entrepreneur. You get to be an entrepreneur. Accept the ride. Stay healthy. Keep a clear mind. Celebrate your wins.

You (and I mean it) GOT THIS!

-Mike

The post 8 Ways to Find Happiness and Joy at Work appeared first on Mike Michalowicz.

A Surprising Success Hack



There is always someone better.

There is always someone performing at the next level.

There is always someone striving harder than you.

There’s also always someone feeling as though you’re that person ahead of them.

Here’s the thing – We’re on this infinite loop in life. There will always be highs and lows. By helping others, it kicks off the momentum for others to pull you forward, and serves as a reminder that success is cyclical.

The intention should be that we always step forward to pull someone along with us in the journey to success. 

Competitive mindsets are inherent in business, but someone else winning business does not equate to you losing an opportunity. There is no finite amount of opportunity and success to go around. Even if someone else wins business you want, that provides you a chance to grow, up your game and likely win even more business next.

Perhaps, and I strongly believe, you’ve already been pulled forward in the past – even by people who didn’t think they were serving you. Maybe they inspired you simply by being in contact with you. 

How can you help others succeed? Empower them!

First, you must listen, so you know what is valuable to them, what they need, and how you can effectively serve. Share your knowledge and experience – use examples.Be encouraging.Share your resources. This is one of the cornerstones of Clockwork . When you create shareable systems in your business, you can easily delegate projects, which is incredibly empowering. Make them aware of opportunities.Introduce them to contacts and opportunities.Give honest and constructive feedback.Help them develop their own unique skills (not necessarily yours!).

The fastest way to achieve success is through serving others. Be sure to inspire and support those you come in contact with. There’s room for us all to win, if we help each other.

Entrepreneurs unite!

-Mike

The post A Surprising Success Hack appeared first on Mike Michalowicz.

There is always someone better.There is always someone pe...

There is always someone better.

There is always someone performing at the next level.

There is always someone striving harder than you.

There’s also always someone feeling as though you’re that person ahead of them.

Here’s the thing – We’re on this infinite loop in life. There will always be highs and lows. By helping others, it kicks off the momentum for others to pull you forward, and serves as a reminder that success is cyclical.

The intention should be that we always step forward to pull someone along with us in the journey to success. 

Competitive mindsets are inherent in business, but someone else winning business does not equate to you losing an opportunity. There is no finite amount of opportunity and success to go around. Even if someone else wins business you want, that provides you a chance to grow, up your game and likely win even more business next.

Perhaps, and I strongly believe, you’ve already been pulled forward in the past – even by people who didn’t think they were serving you. Maybe they inspired you simply by being in contact with you. 

How can you help others succeed? Empower them!

First, you must listen, so you know what is valuable to them, what they need, and how you can effectively serve. Share your knowledge and experience – use examples.Be encouraging.Share your resources. This is one of the cornerstones of Clockwork . When you create shareable systems in your business, you can easily delegate projects, which is incredibly empowering. Make them aware of opportunities.Introduce them to contacts and opportunities.Give honest and constructive feedback.Help them develop their own unique skills (not necessarily yours!).

The fastest way to achieve success is through serving others. Be sure to inspire and support those you come in contact with. There’s room for us all to win, if we help each other.

Entrepreneurs unite!

-Mike

The post appeared first on Mike Michalowicz.

Don’t Work Around the Clock Ever Again

In Clockwork, I explain the necessity of taking a four week vacation — completely unplugged from the business so that you can see if the business will survive without you.   

Have you taken a four week vacation yet?

I know, at first, it sounds impossible. 

I’m here to tell you it’s not. It’s been almost two years since Clockwork came out and many of you have let me know you’ve taken your 4 week vacation. You’ve told me how it has revitalized you, as well as your business. Not only have thousands of small business owners implemented this practice, but we’re all walking the walk in our office as well. 

As I write this, Kelsey, our president, just returned from her four week vacation, Jenna just left for her’s, and Amy is packing up her family. The rest of the team members have their four week vacations mapped out for the rest of the year. 

The absence of team members, and you, is the ultimate litmus test for your business.   

You may think now is not the time – which is precisely why it IS the time. If you feel like there’s no way you can manage a vacation, even a staycation, then you should get your company prepared for one starting now. Here are a few easy steps our office as taken:

Create your systems – Amy has been working relentlessly to create systems documents and platforms so each team member can add their projects in one location accessible to everyone in the company. Each employee has recorded loom videos with instructions on how to complete each task.

How to: Here’s what Amy did:

She created a systems document template with employee name, project, purpose, contacts, website, and links to sites, recorded training, and screenshots.

Then, employees complete the forms and send them to Amy. By then, they should have created their loom videos, necessary folder locations, and screenshots, and added those links and files to the template.

Platforms: Then, Amy uploads and organizes the systems on Monday and Helpscout. So if, say, Amy was out, and someone needed to speak to her about a book derivative, an employee could access her process and fill in for her without any issues. 

If you need some guidance on platforms, we use Google Drive, Loom, Helpscout, Tango, and Monday to manage our systems and projects. 

Our company is now set up so that if someone happens to be out unexpectedly, things will run without a hitch and our efficiency and profit won’t suffer. 

Though, we tend to miss each other when the band isn’t together. We’re friends like that.

Remember, efficiency isn’t about working around the clock. It’s about working smarter, not harder. And, it’s about creating a business that can live without you. If you’re “in” your business every moment, you will never have the opportunity to see what inefficiencies and linchpins exist. Stepping away will amplify those and give you an opportunity to make improvements.

Now – go enjoy your summer.

You’ve got this!

Mike

The post Don’t Work Around the Clock Ever Again appeared first on Mike Michalowicz.

Best Practices Equal the Worst Marketing



Make sure you avoid best practices. 

That is, avoid believing your best practices are your differentiator.

Here’s your assignment:

Google the industry you’re in. So, “marketing for accounting best practices”, or, “marketing for roofing best practices – whichever industry you’re in. 

Your search will present the best marketing practices for your industry to try. So none of the ideas will differentiate you. They’re what everyone else is doing. I mean, it’s page 1 of Google, after all. 

I would say best practices is simply the ballpark you need to be playing in. Some of the things are relevant and you should do them, but they are not going to help you stand out, make your marketing more efficient, or represent your individual, unique brand. 

The one thing to do is what no one else is doing. That’s the essence of effective marketing. Look at the best practices in your industry and ask yourself what the one thing is that no one is doing yet. That’s the action that is probably going to serve you best. 

The post Best Practices Equal the Worst Marketing appeared first on Mike Michalowicz.

How to Get Your Business Through a Recession – The First Two Steps To Take



 

Every recession since the 1920’s has had a common pattern – a psychological pattern – mass shock.

When we go into a mass shock response, we tend to batten down the hatches and do nothing. Cling to what we have.

Wrong. 

Especially as a business owner, you must avoid this shock response. While it’s a normal response, I want to challenge you:

Don’t panic. Expect that you will be shocked – you’re only human. But plan ahead of time so your business is prepared to take immediate action when it hits the fan.

Here’s where I start:

Reach out – The first thing I suggest when there’s a financial crisis is to engage your customers. Reach out to them in an email or even phone calls. Let them know you’re open for business. Let them know you’re there to serve them, and ask them how you can best serve them at that moment at such a critical time. 

Give them what they need – Redesign or redefine your services based on what your customers really need in real time. Then, when communicating with your clients and customers, be sure to define what your (new) set of services is. You may find that you have to pivot a bit, or, you may find that your customers’ needs and perspectives inspire you to create new products and services.

From these two foundational steps alone, I have created new webinars, courses, and yes, even written a couple new books and systems to not only create a better business, but a better customer experience and relationships.

The first business owners who manage that shock phase, and move forward in their business in a deliberate manner, are the ones who end up scaling and sustaining profitability for their company. They are the ones who survive and thrive. The ones who go into shock and act out of desperation are those who end up struggling the most.  

Shock may be coming – it’s the natural cycle of the economy, it seems. Be prepared to go through it, and come out the other side successfully.

Remember to prepare – You’ve got this.
-Mike

PS. For more resources related to recessions, check out the free, downloadable resources at our Recession Response page. And, you may access The Recession Rally webinar here. I know it can help small business owners right now.

The post How to Get Your Business Through a Recession – The First Two Steps To Take appeared first on Mike Michalowicz.

Join the Club – The Clockwork Revised and Expanded Reviewer’s Club

If you want exclusive access to me and my latest systems, read on.

I’d like you to join the club. The Clockwork Reviewer’s Club, that is.

Your reviews are what have propelled not only my books, but other entrepreneurs and small business owners forward. Letting people know what you think carries a ton of weight.

I just finished Clockwork Revised and Expanded: Design Your Business to Run Itself. With this book release, we thought we’d sweeten the offering.

All you have to do is pre-order, review, and let the benefits come to you by inviting you to The Clockwork Reviewer’s Club.

Steps to become a Reviewer’s Club Member (we made it simple!):

Pre-order Clockwork Revised and Expanded: Design Your Business to Run Itself

Enter your receipt at THIS LINK to gain PDF access to the book NOW

From there, you may become a member of the club and get access to the Clockwork Reviewer’s Group, where you may interact if you like, as well as leave your review.

Submit the review and get the exclusive invitation for an entrepreneur meetup with the Reviewer’s Club, as well as with Mike. If you cannot make it to the meet up, Mike will have a 15 minute coaching session with you personally!

We’d love to have your review by August 15th!

As an added bonus, when you join The Reviewer’s club, you get exclusive access to Clockwork webinar with Mike Michalowicz, Kelsey Ayres, and Emily Doyle of Clockwork, which will be open to only you, on July 19th at 11am Eastern.

Your voice counts. Get the book and tell the world what you think.

Thank you for allowing me to be on this journey with you. Helping create sustainability in your business is one of my greatest passions!

With gratitude,

Mike

JOIN THE REVIEWER’S CLUB

The post Join the Club – The Clockwork Revised and Expanded Reviewer’s Club appeared first on Mike Michalowicz.

Recession Rally Webinar Replay



Here is the Recession Rally webinar replay along with the relevant resources and downloads from last week.

Additionally, here are the Recession Response free resources and downloadable worksheets we referenced and used in the webinar,

Typically, I’d prefer you join webinars live, so you can ask me questions and we can interact. I also know it’s difficult to commit to carving out time when you’re juggling so many other aspects of your business. And life.

So without further adieu, here’s the replay. I know it can help small business owners right now.

I’m rooting for you – You’ve got this.
-Mike

PS – Don’t forget to download the free worksheets we used in the webinar.

The post Recession Rally Webinar Replay appeared first on Mike Michalowicz.

Increase Efficiency – Increase Revenue



More efficiency equals more revenue. It’s science. 

What’s the one thing you can make two times more efficient?

I’m finding that when challenges arise, such as the recession we’re about to face, the most proactive step you can take is to increase efficiency. Amplify something in your business to do two times better. You may even find that once you’ve started the momentum it leads you to the solution you need to move the business forward. 

I’m putting this challenge out there to business owners: Find a way to double your revenue with half the effort. If you find that, you will transform your business and can redefine your industry – with you as the leader. Even if you only make incremental steps, you’re still ahead of the competition. 

Think about increasing revenue while decreasing costs to generate that revenue. 

Think about increasing efficiency while reducing effort. 

Those are the things we want to achieve in our business right now. 

The cons: 

Uhm. None? The only thing I would say is while creating more efficiency, be sure you’re also creating more personal connection with your customers as well as employees. You don’t want things so automated that people feel processed. No one likes that.

The pros:

Reduce all the extra resources needed when there are inefficiencies. Save cash, labor, technology, and time.  

How will you know if your efforts to create efficiencies are working? Measure your return on investment, process and operational efficiency, eco efficiency,  and labor.

How do I implement efficiencies?

Automations – Can you create automations in your business to free up employee time? We have a few automations set up for email and resources, so our employees can focus on serving in other ways.

Communication – Encourage open communication. It increases efficiency by creating better clarity, and eliminates endless email chains or waiting for responses. 

Shorter meetings – While you want to have that awesome communication, make sure meetings are brief and to the point. Prepare for them ahead of time, and follow a short agenda. We have daily meetings, but they run about fifteen minutes. We all know what the other is working on, and can offer insight or help if needed. 

Task management software – We use Monday. This allows us to consistently make updates without interrupting anyone else. We store pertinent information here for each project as well to make it readily available to other team members. 

Now is the time to get started. What’s the one thing you can do twice as well in your business?

 You’ve got this!
-Mike

For more resources to help you sustain and scale during hard economic times, check out The Recession Response page, where you will find free resources and downloads.

The post Increase Efficiency – Increase Revenue appeared first on Mike Michalowicz.