Episode 70: Loss Aversion and Profitability with Nick Muzzatti
Show Summary
This week Mike Michalowicz, Chris Curran and Kristina Bolduc interview the Operator of Carnival Day and explore what it’s like to be a manager of a business, but not the owner – and what your relationship to money and profitability is as a result. In this episode we dispel the value of making bold decisions and loss aversion. In Nick’s case, selling his truck may be the best decision of his life. We also discuss feeling the pain in purchasing and the 5% rule when you make a purchase on behalf of the company. Welcome to Episode 70 if the Profit First Podcast!
Our Guest
Nick Muzzatti is the operator of an entertainment rental business in Rockville, Maryland. What started as an inflatable rental business, primarily serving backyard birthday parties, has grown in to an entertainment rental company that serves clients across the country. Nick began his career in the events industry as a “vinyl technician”, which basically means he set up moonbounces for a living! In time, he developed relationships with many of the event planning firms in the DC Metro area, as well with other clients across the country. By listening to his customers, and investing in new and unique rental pieces, his company has become a sought after provider for event entertainment.
Nick is passionate about business. He reads business books like other people check their facebook feeds; often and to a fault. Now, Nick is ready to take this knowledge and apply it productively to his current business and all future business ventures.
Show Links
Website: www.carnivalday.com
Facebook: www.facebook.com/carnivalday
Instagram: @carnivaldaymd
Twitter: @carnivaldaymd
Corporate Partners
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Fundbox – the simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.
