Mike's Blog


Double The Results, Half The Effort

What are you working on right now? I want you to pause just for a moment and ask a question about it: “How do you double the results with half the effort?” I know it sounds like an extreme question. But ask it of yourself anyway. In fact, ask it of all things you do. […] Read more

Snow

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My friend, Barrett owns a lawn care business. To grow his company he hired a company to do outbound calls as the new season approached. As frustrating as it may feel to get sales calls at home, Barrett gets one new customer for every three hundred outbound calls. The numbers work. Barely. Then Barrett analyzed […] Read more

Arguing With Your Business Partner (It’s A Good Thing)

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I have had multiple business partners over the years, and realized that the most successful businesses came from partners that I argued with. I believe, in fact, that arguing is one of the most important determinate of a successful business. But only if the arguing is rooted in one foundational value: it’s in the best […] Read more

Episode 17: Profitable Tax Deductions With John Thomas

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Podcast: Play in new window | Download (Duration: 35:45 — 33.4MB) | EmbedShow Summary John Thomas “JT”, the CEO of Deductr joins Episode 17 of the Profit First Podcast. JT talks about the different ways small business owners can maximize their tax deductions.   Our Guest John Thomas or “JT” is the CEO of Deductr. JT has […] Read more

5 Secrets To Increasing Your Prices

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It’s inevitable. We all have to raise prices at some point in order to stay solvent. It’s also inevitable that we’re going to agonize over the decision, worrying about what the net effect on our business will be. Here are some tried and true strategies I’ve learned that make your prudent business decision even more […] Read more

5 Steps To Take When A Great Employee Has A Bad Habit

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About fifteen years ago, I owned a company with a small telemarketing division.  Of the four or so employees we had in that division, Bill was far and away the superstar.  He scheduled more appointments than anyone else, and he did it effortlessly, with no complaints.  He was the standout in that division, but there […] Read more

Storytelling Can Kill Your Message

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We tell stories because they paint pictures in people’s minds. When we get an audience – whether it’s one person or 2500 – thinking creatively and engaged in our story, then they’re active participants in our performance. Stories make our messages more memorable and persuasive, and they’re an essential element of public speaking. We all […] Read more

Grow Your Business Faster By Paying Yourself

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When I’m consulting with clients looking to invigorate and grow their businesses, one question I often ask is: “Who’s your most valuable employee?”  They inevitably give me the wrong answer.  They might wax poetic about their rockstar sales person or their dedicated assistant, but they’re missing an obvious point.  Entrepreneurs don’t realize that they, themselves, […] Read more

Never Be Caught Short On Taxes Again With This Simple Trick

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Death and taxes … the two things that are certain in life … and it’s as much fun to talk about one as it is the other.  Getting your tax liability under control requires planning and discipline, and it’s impossible to overestimate the importance of handling it properly.  I’ve seen more than one business go […] Read more

Trusting Your Gut Can Be A Dangerous Move. Here’s Why…

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For the record, I’m a big fan of trusting your gut.  There are more success stories than I can count that rely on entrepreneurs who trusted their instincts and profited handsomely.  When you start a new business, full of vision and lofty goals, often the only thing you have to guide your decisions is your […] Read more

The Biggest Competitive Advantage Goes To Small Businesses

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Every entrepreneur knows that starting and growing a small business is a challenge.  We don’t have the enormous resources – financial and otherwise – that the big guys do, and we don’t have the benefit of name recognition.  Being the underdog is tough, and there’s no denying it. But small business does have one huge […] Read more

Make Your Business Money While You Sleep In 7 Ways

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Think about the way your business runs:  you attract prospective clients, convert them to customers, collect the money, cultivate repeat business, and encourage customers to refer other prospective clients.  Each of these steps entails specific challenges, and one of your goals as an entrepreneur should be to automate as many of these steps as possible. […] Read more

Episode 15: Profit In Management Consulting With Peter Laughter

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Podcast: Play in new window | Download (Duration: 32:11 — 30.1MB) | EmbedShow Summary Peter Laughter, CEO of Wall Street Services in NYC  joins Episode 15 of the Profit First Podcast. Peter explains how the staffing industry works as well as how he makes a profit from it.   Our Guest Peter Laughter and is the CEO […] Read more

6 Habits Thought Leaders Should Get Used To

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As an entrepreneur myself, I’m always on the lookout for words of wisdom from fellow innovators.  Looking to the rule breakers (who often evolve into rule makers) for ways to successfully challenge the status quo has given me the following six suggestions for my fellow entrepreneurs. 1. Strive for minimalism.   Craig Newmark, founder of […] Read more

How To Work With Friends (When You Own The Business)

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I’m going to be blunt.  The best solution to the problem of how to navigate the dangerous waters of hiring a friend is just to avoid it.  It’s hard, and it doesn’t usually end well.  I hired a good friend early on in a former business, and it was much harder than I thought it […] Read more

Have An Effective Meeting With These 6 Steps

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We all know the truth, and it’s time we started admitting it.  Most meetings are ineffective.  Frustrated with sessions that seemed to accomplish little except functioning as insomnia remedies, I set out to perfect my meeting style – shooting for “The Meeting to End All Meetings.”  I did extensive research on what makes a good […] Read more

Episode 14: Profitability and Top Level Employees with Dr. Sabrina Schleicher and Julie Wurzer

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Podcast: Play in new window | Download (Duration: 44:04 — 41.0MB) | EmbedShow Summary Dr. Sabrina Schleicher and her client, Julie Wurzer join Episode 14 of the Profit First Podcast. Sabrina and Julie discuss the importance of monitoring your expenses and hiring top level employees. Our Guests Dr. Sabrina Schleicher (left) is President and Founder of […] Read more

6 Negative Traits Of Entrepreneurship That Remain Unspoken

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I’m a member of an entrepreneur group.  It’s full of people whose names you’d recognize, owners of companies with a world-wide presence.  I was stunned at one of the meetings recently, when one of the members stood up and confessed that he’d been struggling with crippling depression.  What surprised me even more was that several […] Read more
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