Pawn Leaders

Today on Pawn Leaders, I have Mike Michalowicz, author of the books Profit First, Surge, The Pumpkin Plan and his newest release, Clockwork. By his 35th birthday Mike had founded and sold two companies, a bunch of private equity and another two Fortune 500 companies. Today he’s running his 3rd multi-million dollar venture; Profit First Professionals. Mike is a former small business columnist for the Wall Street Journal and a former business makeover specialist on MSNCB. He has travelled far and wide, speaking with thousands of entrepreneurs. [02:14] What is Entrepreneurial Poverty? “The misperception about how successful and the amount of money entrepreneurs have or earn.”   [03:51] “The next time someone asks ‘how big is your pawn shop?’ Say, ‘Let’s talk about how healthy it is!’”   [04:06] We have been told that profit is the bottom-line, but if that’s the case, it means that consideration can wait.   [04:48] Sales – Profit = Expenses   [06:39] The core concept is that when revenue comes into your business,