If you’ve ever thought “How is my company able to hit all time high revenue but I still never have any profit?”, then this episode of Luminary Business Podcast is a must listen!
Today I interview Mike Michalowicz, author of Toilet Paper Entrepreneur, The Pumpkin Plan, Profit First, and his newest book Surge.
I originally met Mike at Michael Port’s event for the new book “Steal The Show” and was immediately drawn to his quirky fun approach to accounting. SAY WHAA??? Yes, Mike Michalowicz is actually an accountant with a personality!
In today’s episode we dive into a well known law, Parkinson’s Law and discuss how understanding this simple law can have a dramatic effect on your businesses profitability (measured by how much money is in the business owners bank account at the end of the year)
“When something comes last, it gets ignored” [Tweet that!]
What you will learn in this episode of the Luminary Business Podcast:
- 3:55 The Profit First formula
- 8:15 Parkinson’s Law
- 11:52 How to apply the Profit First system