Mike Michalowicz's Blog, page 65
June 8, 2016
Episode 94: Swimming in Profit with Greg Wittstock
Show Summary
Today we discover how Greg Wittstock, Founder of Aquascape Inc. turned a hobby $60 Million dollar company. Greg talks about the rise of his business, the challenges they faced, and how they ensure profitability today. Welcome to Episode 94 of the Profit First Podcast!
Our Guest
Greg Wittstock is Founder and CEO of Aquascape Inc., the leading innovator in the water gardening market. Aquascape invented the low-maintenance, naturally balanced ecosystem pond that is the # 1 contractor-installed water garden. Since its inception in 1991, Aquascape has experienced incredible growth, appearing on Inc Magazine’s list of 500 Fastest-Growing, Privately-Held Companies in North America 4 years in a row (1999-2002). Greg himself appeared on the cover of Inc Magazine, along with a feature article about his leadership and entrepreneurial spirit.
Show Links
Websites: www.aquascapeinc.com, www.aquascapeacademy.com,
Facebook: www.facebook.com/AquascapeInc
Pinterest: www.pinterest.com/AquascapeInc
Twitter: https://twitter.com/AquascapeInc
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Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
June 6, 2016
Episode 93: Revolutionizing Produce & Profitability with Greg Eisenbeis
Show Summary
How do you make a profitable decision on where your business should go? This week, business owner Greg Eisenbeis is now facing a fork in the road on what’s been making money for him up to this point, but his excitement has faded away… and now he’s looking to start a new business that can be a game-changing concept for the world. Greg has found an interesting question to ask himself to determine if he should take the risk of starting this new business or to stick to what’s already made money: 5 years from now when he sits down with his kids, will he be proud of what he’s doing and proud to be sharing it with them? Join Greg on his quest for starting a new business and the decisions he’s facing – welcome to Episode 93 of the Profit First Podcast!
Our Guest
Greg is the owner of EIS engineering. They help companies take their 10 year old science project to a super stout industrial machines. Kind of like professional legos! Using his areas of expertise in precise environmental control, nutrient injection, energy generation, and data center cooling, he is starting a vertical indoor garden that revolutionizes the way food is produced and distributed that uses only 5% of water traditional crops use, and changes the number of harvests from 3 to 4 a year (assuming the weather didn’t kill your crop) to 12. Gone are the days of weeks old produce before you get access….think 2 hours.
Show Links
Website: www.eisengineering.com If you need help “industrializing” your machine or help with our vertical garden (specifically in the areas of hydroponics, engineering, and restaurant sales) please contact us through our website.
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Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
June 1, 2016
BONUS Episode: The Introduction & Chapter One from the book SURGE by Mike Michalowicz
Show Summary
Welcome to this very special bonus episode of the Profit First Podcast! Mike Michalowicz gives you two bonus audios of his new book, SURGE (Separate, Unify, Rally, Gather, Expand) – one is the introduction to the book and another is the entire first chapter, all for free 
Find out more about SURGE here, and it is available for purchase at Amazon.com and Audible.com.
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Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
May 31, 2016
New Business Book, Surge by Mike Michalowicz, Demystifies Market Timing
Obsidian Launch announced the June 20, 2016 release of Surge, a new business strategy book from the author of Profit First, Mike Michalowicz.
After launching and selling two multi-million companies, Michalowicz set out on a mission to eradicate entrepreneurial poverty through mentoring business leaders, and writing game-changing, “from the trenches” business strategy books that helped entrepreneurs save and grow their businesses—and their bank accounts.
Surge was inspired by a reader. “I was talking with some readers of my earlier books, and one person blurted out, ‘I believe in and live all of these strategies, but I struggle with timing.’ She felt like if she could time the market, all of her problems would be solved,” Michalowicz says. “I thought, ‘why can’t we simplify market timing?’ I studied people who were successful at it, modified and practiced strategies for my own business, and I saw results. Then I wrote the book. I’m always the guinea pig for my readers.”
“All markets have surges, big and small,” Michalowicz says. “The secret is finding them and getting in front of them. There is a formula to it that applies to any business, and that’s why I wrote the book.” Surge: Time the Marketplace, Ride the Wave of Consumer Demand, and Become Your Industry’s Big Kahuna is available for pre-order now in print, ebook and audio formats at Amazon.com.
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Episode 92: Educational and Galactic Profitability with Dr. Zarik Boghossian
Show Summary
Welcome back from the weekend! Today Dr.Zarik Boghossian shares his personal story of being born in Iran and moving to the US, the hardships he faced because of his accent, having no money and how he moved on to successfully develop a software that does the flight navigation for the international space station. Join us to learn some interesting insights on what can drive profitability and success for anyone.
Our Guest
Dr. Zarik Boghossian is a passionate entrepreneur with over 30 years of experience designing and developing advanced technologies and innovative solutions including aerospace systems. Zarik was responsible for the development of the Mission Critical Electric Power System Flight Software for the International Space Station (ISS) for NASA. This system has successfully been launched by NASA and has been orbiting around the earth for the past decade.
As the Head of the Technology and Professional Services at Integrien, Zarik worked closely with other executives and investors at Clearstone Ventures to create an attractive enterprise level software solution which was successfully acquired by VMware, Inc. in 2010.
As the Co-Founder and CTO at Wovenmedia, Zarik lead the design and development of a Digital Media Solution that is currently being used by one of the largest retailers in the US. Later in his career, Zarik founded Zema Enterprises, Inc. with one purpose in mind, and that is to create technology solutions in advanced web and mobile applications that have meaning and can change the world.
Over the past two years, Zarik has been extremely active as an investor and an entrepreneur to create startups in forward looking markets such as Augmented Reality, On-demand services industry, Social Networking & Collaboration industry, and Solar Industry. Zarik currently serves on the Board of Advisors for many other startups.
As a professor at Pepperdine University, Zarik has been teaching and mentoring MBA and undergraduate Business school students in entrepreneurship, International Management, Venture initiation, and Operational courses. In the past three years, Zarik has also been mentoring UCLA MBA candidates as part of the UCLA Anderson Easton Technology Management Center Industry Mentoring Program.
Zarik holds a B.S. in Computer Science from the University of North Texas, a MBA from Pepperdine University in Business Management, and a Doctorate degree with highest honors from Pepperdine University specializing in Organizational Development and Leadership. Zarik’s thesis is published and entitled as “An Investigation into the Critical Success Factors of Software Development Process, Time, and Quality.”
Show Links
Website: www.zemaenterprises.com
AUGmentecture, Inc. www.augmentecture.com Augmented reality solution for design and architectural industry
DriverSquare, Inc. www.driversquare.com on-demand technology platform for deliver anything at any time to anywhere
RideMates, Inc. www.ridemates.net innovative way of ridesharing for adults and teens
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Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
May 27, 2016
It Doesn’t Take Money to Make Money
In fact, find a way to make money without money and you will make a lot of money.
May 25, 2016
Episode 91: Next Level Profitability with David Lauterstein
Show Summary
Today we interview David Lauterstein and put him in the hot seat to discuss what’s going on with his business. David runs a $3.2mil retail outlet called Nasty Pig – but that doesn’t mean he’s been profitable! David has implemented Profit First and experienced a turn in his business; we coach him through a couple tips on how to take his business to the next level. Sometimes, bigger questions get bigger answers – and that’s exactly what we guide David through. Welcome to Episode 91 of the Profit First Podcast!
Our Guest
David Lauterstein, founder of Nasty Pig, is the king of long shots. Tell him he cannot do something and watch him make it happen. Conceptual output drives him nuts. There is always music playing in his head. Do not confuse Nasty Pig the brand with Nasty Pig the corporation. He takes his business very seriously.
Show Links
Website: store.nastypig.com
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Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
May 23, 2016
Episode 90: The Adversity of Profitability with Dr. Rob Garcia
Show Summary
Today we hear a story that will tug at your heartstrings as we explore overcoming adversity. What if you grew up in a household where the family surrounding you did drugs? What if you failed out of high school and got kicked out of college – can you really have a successful lifestyle? The answer is a resounding yes. Dr. Rob Garcia explains his life story of how he navigated out of an adverse upbringing and was able to make a extraordinary success of himself. Chock full of tips and strategies that are applicable to any entrepreneur of any level, regardless of your background, welcome to Episode 90 of the Profit First Podcast!
Our Guest
Dr. Garcia grew up in a low income household and failed out of high school once and two different colleges. He joined the Air Force and learned the traits of success: hard work, diligence, and developing an unyielding desire for success. He moved to San Diego in 2002 and taught Engineering at Morse High School for five years, despite never having an Engineering degree. An avid speed reader, he credits his academic achievements to “studying from the best, and reading as much as possible.”
Dr. Rob Garcia is an 8 time author and the founder of SHIFT Advanced Life Design Magazine.
Show Links
Magazine: http://www.bluedragonent.com/shift-magazine.html
SHIFT Magazine on Facebook
Website: http://bluedragacademy.weebly.com/
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Mike Michalowicz is speaking at Scaling New Heights 2016 ( #SNH16 ) at the BEAUTIFUL Atlantis on Paradise Island in the Bahamas THIS WEEK!
May 22-25, 3016
For more information on this conference and to register, click here!
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Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
May 20, 2016
The Criticism Challenge
If you have ever had an employee need harsh criticism, you know just how difficult a task it can be. Most people don’t like to dish out criticism, which is a good thing, but as entrepreneurs, there is sometimes no way around it. But there is a right way and a wrong way to give harsh criticism to employees. And your mission is to make doing it the right way a priority!
Criticism Challenge
If you give harsh criticism, or any criticism, in an appropriate manner, you will likely help create a better employee. Give it the wrong way, and you may see that employee retaliate or walk out the door. Neither of these are scenarios are what you probably want, so focus on learning how to effectively give criticism, so you avoid offending them.
Keep these tips in mind when it comes to giving harsh criticism to an employee:
1. Before you give the criticism, explain that you are sharing it with them because you care about them.
2. Pat on the back, kick on the ass, pat on the back. This is what I learned from my college lacrosse coach. Whenever he wanted to correct a mistake, he would first say what I did right (the pat on the back), then he would point out what I messed up on and needed to fix (the kick in the ass), and then he would tell me how well I was progressing and to keep pushing on (the pat on the back). This sandwiching technique works because it softens the criticism and leaves you inspired to fix it.
3. Never criticize the person, only criticize the act. You never want to make it personal. For example, don’t say something like “I don’t like it when you…” Instead, say “On those occasions when it is said…”
4. Always criticize privately. This is just a common courtesy. You wouldn’t want someone to criticize you in front of others. No matter how nice you try to do it, you will still put that person on defense and risk humiliating them, so it’s just best to avoid it all together.
5. Let them save face! This isn’t about them agreeing that they messed up; it’s about correcting the behavior (or at least that is what it should be about). If you attack them, they need to go on defense. And part of any good defense is justification to keep doing the behavior. So give them an out, so they can have an “excuse” for the past behavior (save face), but they do not have an excuse to continue. A great way to help them save face is to say something like “I bet you are not even aware of this, since I used to do the same thing and did not even know.” If they acknowledge they were not aware, they have saved face. And now, since they are aware, they can’t continue with the behavior.
The Right Course
When giving an employee criticism is not done correctly, it can seem mean-spirited, feel like a personal attack, or just make them angry. When it is handled the right way, it can help improve situations and behavior, inspire change, and start a conversation about what is going on. It is important, as well, to make sure that when you give criticism, you aren’t just venting frustrations or trying to boost your ego, that it really is to improve a situation.
Even if you don’t have an employee right now that needs some criticism, you may in the future. It’s always a good idea to make sure you know the right way to handle the situation. That is part of what makes great leaders, well, great!
May 18, 2016
Episode 89: Profit First Explosion Featuring Chris Curran
Show Summary
Today we sit down with Chris Curran, our rockstar engineer and Profit First Podcast producer about how some of these ideas came to him as he was producing the show… and how his own business has exploded as a result of implementing profit first and some other strategies! Gain some cool insights, plus hear us play a little song for the first time in studio – we didn’t rehearse (we apologize in advance) but we belted out “Here’s To Us” by Halestorm. Join us for this crazy ride on Episode 89 of the Profit First Podcast!
Our Guest
Chris Curran handles podcast production for FORBES Podcasts, Dun & Bradstreet, as well as select business authors including Mike Michalowicz, Pamela S. Harper, Dr. Dan Peters, Melissa G. Wilson, Dr. Laura Mattia and Erik Townsend.
Chris has previously been on staff at some of the most prestigious recording facilities in the world: The Hit Factory, The Soundtrack Group, and Quad Recording.
He has many album credits including engineer, producer or assistant engineer roles on projects with Foreigner, Sarah McLachlan, MC Hammer, Itzhak Perlman, Naughty by Nature, Ice Cube, Jeff Buckley, Philip Bailey, Biohazard, God Street Wine, Biggie Smalls, Puffy, Heavy D., Helmet, Monster Magnet, Nuno Bettencourt, Onyx, Quicksand, Savatage and many others.
Chris is also the author of Leap Beyond Your Limits, as well as the host of various podcasts including The Podcast Engineering Show, The Mystic Show, The Profit First Podcast and Social Media Unscrambled. When not working, Chris is a student of Sahaj Marg Meditation. To contact Chris, email him at: chris @ fractalrecording . com
Show Links
Website: www.fractalrecording.com
Facebook: Fractal Recording
Twitter: @FractalSound
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Mike Michalowicz will be speaking at Scaling New Heights 2016 ( #SNH16 ) at the BEAUTIFUL Atlantis on Paradise Island in the Bahamas!
May 22-25, 3016
For more information on this conference and to register, click here!
.
Corporate Partners
Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
Fundbox – The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
