Ep. 138: Profitable Insights with Mike Michalowicz

Ep. 138 Profitable Insights with Mike Michalowicz

Mike Michalowicz shares the microphone with Danielle and responds to questions from listeners just like yourself. Listen in to understand his innovative, time-tested approaches to successfully managing a business in the zone of permanent profitability.

Furthermore, Mike delves into the importance of enlisting a Profit First-Certified Accountant, Bookkeeper or Coach.. Stay tuned until the end of this episode for an exciting announcement Mike will share.


[00:39] Question One. Should I add a retirement account to my hidden account, and how to set up a retirement account
[05:40] Question Two. Can I make an exemption to Profit First
[07:35] Question Three. What is the owner's pay? Is it the CEO's salary, and why is the allocation 50%
[10:07] Question Four. Do shareholders of a business all get compensated the same
[12:05] Question Five. Can you skip the profit and tax accounts at your primary bank and transfer from income to profit hold and tax hold at my inconvenient bank
[15:06] Wild card questions for Mike regarding working with a Profit First Bookkeeper
[20:49] Mike celebrates that Profit First is in 28 languages now


Over 50% of businesses don’t last five years.
Profit First Accountants and Coaches are in different towns than the client because they are industry-based, not location-based.
To effectively implement the Profit First System, adhering to each step is crucial. If you find yourself making exceptions, you are not following the Profit First principles.