The Entrepreneurship Elevated Podcast

Carole Rains is an amazon seller facing the challenge of growing a profitable business where there is a high volume of inventory she needs to purchase. One major roadblock for Carole arose when Amazon lost her order and she had to quickly replace her inventory. In this episode we also discuss some novel approaches to addressing inventory that cost literally nothing and will make those amazon lost shipment problems dissappear. In addition we talk about profit margins and how Carole can dictate at least a 4x markup (or more!) by using simple things like a name change or packaging her products with educational components too.

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.

Melinda McCaw, founder of Melinda McCaw Media navigates how to manage a scenario where your company is dependent on one major client (and what to do about it). We explore a simple strategy of knowing when to make that next hire, give some simple tips around profitability, and share perspective on revenue per employee. Obi Ron Kenobi (Ron Saharyan) makes a special guest appearance and provides Melinda with great advice on how to reduce the pains of significant cash ebbs and flows.

This week we had the privilege of interviewing Jonathan Royce, founder of Hustling Hoagies – a brand new business that delivers hoagies to Univ. of Michigan football games and other local events. Join Mike Michalowicz and Chris Curran for a journey with Jonathan as we discuss where he’s making money and where he’s not, as well as the concept of imminent need. We explore where Jonathan has spent money which was of no value, and the technique of using Profit First to pre-allocate money toward profitability AND his own pay to determine how much money is truly available to infuse money back into his business. Welcome to Episode 68 of the Profit First Podcast!

This week Mike Michalowicz, Chris Curran and Kristina Bolduc welcome guest Robin Robins who took her business from $0 in 2003 to $10 million in revenue in 2015. This episode is chock-full of insights including why niche specialization helps grow your business (even if your niche industry collapses), the “enough is enough” stage, how to have a personal cash reserve and a business reserve, and how to diagnose the different products offerings you have and determine individual profitability for each one. Welcome to Episode 67 of the Profit First Podcast!

Erica Wernick, founder of LA Bound: a business that helps aspiring TV and Movie Actors/Actresses/Experts achieve their goals in Los Angeles. In this episode we learn what a new membership organization is like. We discover the essence of Parkinson’s Law: that every penny made is also spent. We guide Erica through her first step toward Profit First in setting up different allocation accounts, including running a basic profit assessment. In this episode we also explain cost vs. investment.

Bryn Davis joins Mike Michalowicz and Chris Curran to share his inspiring story of how his passion for healthy eating exploded into a booming business.

Matt Perosi and Jamie Doughty join Mike Michalowicz, Chris Curran, and Krista Michalowicz to dive deeper into the lives of being an entrepreneur, as well as what it’s like to be married to one.

Entrepreneur Rev. Dr. K. Bill Dost joins Mike Michalowicz, Chris Curran, and Kristina Bolduc. Bill deep dives into the common misconception about business financing and gives us some great tips on how to go about getting funding for your company.

Kevin Davis joins Mike Michalowicz, Chris Curran, and Kristina Bolduc for Episode 62 of the Profit First Podcast! Kevin shares his story about his business and what he has been struggling with; Mike gives some great tips on setting up the Profit First system.

Entrepreneur Leticia Mooney joins Mike Michalowicz and Chris Curran for Episode 61 of the Profit First Podcast! Leticia talks about her business goals as Mike gives some great tips on becoming a specialist to skyrocket your businesses success.

Martial Artist Stan Shields joins Mike Michalowicz, Chris Curran and Kristina Bolduc for Episode 60 of the Profit First Podcast! Stan shares his entrepreneurial story and talks about overcoming limiting beliefs.

Nick Dancer joins Mike Michalowicz, Chris Curran and Kristina Bolduc to talk about his experience with implementing the Profit First system in his business.

Author and Entrepreneur Michelle Patterson joins Mike Michalowicz, Chris Curran and Kristina Bolduc for Episode 58 of the Profit First Podcast! Michelle gives female entrepreneurs fantastic tips on how to become as successful as possible.

Pizza Champion Michael Shepherd joins Mike Michalowicz, Chris Curran and Kristina Bolduc. Michael talks about his experience in growing his pizza chain an how he managed business growth at a fast rate.

Bestselling Author and Entrepreneur Chris Ducker joins Mike Michalowicz, Chris Curran and Kristina Bolduc for Episode 56 of the Profit First Podcast! Chris talks about the benefits of bringing your business virtual.

Entrepreneur Stephen Christopher joins Mike Michalowicz, Chris Curran and Kristina Bolduc. Stephen shares his experience with implementing Profit First on his business.

Teams of Distincton co-founder Antoine Gerschel joins Mike Michalowicz, Chris Curran and Kristina Bolduc. Antoine has some fantastic words of wisdom for moving your business towards distinction.

Business Owner Brian Scudamore joins Mike Michalowicz, Chris Curran and Kristina Bolduc. Brian shares his story and gives us some great branding and marketing tips.

Author and Entrepreneur Lewis Howes joins Mike Michalowicz, Chris Curran and Kristina Bolduc. Lewis talks about his new book and the power of finding your greatness.

Michael Spadaro joins Mike Michalowicz, Chris Curran and Kristina Bolduc. Michael gives you great tips on how to leverage technology to become more profitable in your business.

School of Bookkeeping’s very own Seth David joins us for Episode 50 of the Profit First Podcast! Seth gives us great information about sharing content with your clients.

Bestselling Author Michael Port joins us again for Episode 49 of the Profit First Podcast! Michael talks about his new book and gives us great pointers on how to gain the confidence you need to Steal the Show.

Matt Schwartz and Donna Leyens join us for Episode 48 of the Profit First Podcast! Matt shares his story and give some great insight on hiring the right employees for your company.

Donna Leyens joins us for Episode 47 of the Profit First Podcast! Donna deep dives into the concept of the Pumpkin Plan and growing a colossal business.

Rich Manders and Emma Bradshaw gives us great tips on how to scale your business. Emma shares her story of how her business came full circle.

Sofía Macías shares her story and talks about the importance of investing your money!

Scott Spiro and Tony Lillios sheds some light on how he found his niche and the importance of credibility. Tony shares his success story with Speck products and how his company skyrocketed to profitability.

Business owner Nathan Hecht and Disk Jockey Gregg Hollmann join us for Episode 43 of the Profit First Podcast Nathan gives insight to what his software can do for your business and gives tips on protecting your intellectual property. Gregg shares his story of how he grew his DJ business from part-time fun to full time profitability!

Adam Smith and Jonathan Domsky talks about office products that can help protect your company. Jonathan tells us his journey of founding Kidorable and what it’s like to work with factories in other countries.

Dawn Brolin, Managing Member of Powerful Accounting, LLC deep dives into how to save money and increase profit in your business.

Joseph Shemesh shares his expertise on heat mapping for your website. Ethan Anderson discusses the new age of booking appointments with your clients.

David Knowles sheds some light on the world of credit reporting, and Kacee Johnson talks about how to create a solid business plan for your company.

Adam Hollander shares his story of how FantasySalesTeam got started. Tom Wheelwright gets down to the nitty gritty about Taxes.

David Bell and Eric Greenspan join us the Profit First Podcast. David Bell talks about what drug testing does for your business. Eric Greenspan tells us what the School of Bookkeeping is all about.

Christine Gray and Jared Hecht join us for the Profit First Podcast. Christine shares her structure for running a successful business. Jared shares with us how Fundera works! SPOILER ALERT! We talk about the Jurassic World movie.

Emily Morgan and Billie Anne Grigg join us for the Profit First Podcast to discuss how to be more productive in your business, and how to get that profit in your pocket!

Susan Fuller and Krista Michalowicz join us for the Profit First Podcast. They share their stories of what it’s like to be married to busy entrepreneurs!

Bestselling Author Hal Elrod joins us for the Profit First Podcast. Hal shares his life transformation tips from his latest book, The Miracle Morning.

Bestselling author Noah Fleming, and UK Xero's Managing Director, Gary Turner, join us for Episode 32 of the Profit First Podcast. Noah and Gary share their marketing and customer service tips.

Business founders Scott Weintraub and Jennifer Dawn join us for Episode 31 of the Profit First Podcast. Scott shares his method of networking. Jennifer shares her coaching experience in helping business owners put their Profit First.

Shama Hyder and Tim Knox join us for Episode 30 of the Profit First Podcast. Shama and Tim discuss how you can use social media marketing to turn your business into a profitable one.

Erik Knight and Jon Wood join us for Episode 29 of the Profit First Podcast. Erik shares his expertise on how hackers go after your business. Jon talks about how he ended up on his entrepreneurial journey.

Tina Forsyth joins us for Episode 28 of the Profit First Podcast. Tina shares tips on how to profit from successfully implementing systems in your business.

Jill Salzman, founder of “The Founding Moms” joins us for Episode 27 of the Profit First Podcast. Jill shares her secrets to growing and maintaining a successful business.

Andrew Moon and Peter Verlezza join us for Episode 26 of the Profit First Podcast. Andrew and Peter share their experiences with working on their businesses and increasing profit margins.

Author and Entrepreneur, Roger Dooley, joins Episode 25 of the Profit First Podcast. Roger shares a few tips on how to use neuromarketing to increase profitability in your business.

Benita Königbauer, Tax Advisor and certified Profit First Professional, joins Episode 24 of the Profit First Podcast. Benita shares her story of implementing Profit First in Germany.

Matthew Perosi, Chief Thinker at Sapphire Collaborative, joins the Profit First Podcast. Matthew shares his story of when his company went into financial struggle and how he turned it around to become a profitable success.

Kurt Shafer, CEO of Invisco, joins the Profit First Podcast. Kurt shares his story of how an inventor came to dominate the industry.