Episode 02: Forget the Growth-at-All-Costs Mindset and Build a Profitable Business Instead with Mike Michalowicz

Most business owners think they have a revenue problem, but what they really have is a profit problem.

Today, we’re diving into a game-changing conversation with Mike Michalowicz, the best-selling author of Profit First, a method that transforms cash-strapped businesses into profitable, sustainable companies.

Mike shares how a single overlooked sentence in his first book led to a global movement, why most entrepreneurs unknowingly set themselves up for financial stress, and the simple, powerful shift that can turn a struggling business into a cash-generating machine.

We also talk about why traditional accounting doesn’t work for small business owners, how “growing your way to profit” is a dangerous myth, and why most entrepreneurs are bluffing their way through financial struggles while secretly drowning.

And if that wasn’t enough, Mike also gives us a sneak peek into his next book, The Money Habit, designed to help individuals take control of their personal finances in the same way Profit First revolutionised business money management.

In this episode of The Profit First Podcast Australia and New Zealand podcast, you’ll learn the following:

• How Profit First started as an almost accidental idea (00:50)
• How Mike’s own frustration with profitability led to a breakthrough that’s now helped millions of business owners worldwide (05:42)
• What happens when success comes too fast and what it truly takes to build a sustainable business (08:08)
• Why survival isn’t the same as success (13:41)
• The hidden dangers of uncontrolled growth (20:42)
• The biggest mistake business owners make when trying to implement Profit First on their own (26:22)
• Why waiting for “perfect” finances before starting Profit First is a huge mistake (30:31)
• Why you don’t need to be a numbers person — you just need a system that makes sense for you (37:55)
• Mike’s new book on financial freedom (40:11)
• The mindset shift that separates thriving entrepreneurs from struggling ones (45:56)

This episode is real, raw, and packed with insights, so if you’ve ever felt like you’re working harder but keeping less, you don’t want to miss this. 

Remember, you don’t need more revenue. What you need is a better cash management system. And with Profit First, that system is simpler than you think.

Resources

Profit First by Mike Michalowicz

CONNECT WITH MIKE MICHALOWICZ

• Website: https://mikemichalowicz.com/ 
• LinkedIn: https://www.linkedin.com/in/mikemichalowicz/ 

CONNECT WITH KATIE CRISMALE-MARSHALL    

• Instagram: https://www.instagram.com/profitfirstanz/
• Website: https://www.profitfirstaustralia.com.au/  
• LinkedIn: https://www.linkedin.com/company/profitfirstanz/
• YouTube: https://www.youtube.com/channel/UCGh889iRtnzqDh8RVPY7YCw
• Facebook: https://www.facebook.com/profitfirstanz