The Entrepreneurship Elevated Podcast

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Episode 71: Online Sales and Profit Margins with Carole Rains Mar 14, 2016

Show notes

Carole Rains is an amazon seller facing the challenge of growing a profitable business where there is a high volume of inventory she needs to purchase. One major roadblock for Carole arose when Amazon lost her order and she had to quickly replace her inventory. In this episode we also discuss some novel approaches to addressing inventory that cost literally nothing and will make those amazon lost shipment problems dissappear. In addition we talk about profit margins and how Carole can dictate at least a 4x markup (or more!) by using simple things like a name change or packaging her products with educational components too.

Episode 70: Loss Aversion and Profitability with Nick Muzzatti Mar 07, 2016

Show notes

This week Mike Michalowicz, Chris Curran and Kristina Bolduc interview the Operator of Carnival Day and explore what it’s like to be a manager of a business, but not the owner – and what your relationship to money and profitability is as a result. In this episode we dispel the value of making bold decisions and loss aversion. In Nick’s case, selling his truck may be the best decision of his life. We also discuss feeling the pain in purchasing and the 5% rule when you make a purchase on behalf of the company.

Episode 69: Significant Cash Ebbs and Flows with Melinda McCaw Feb 29, 2016

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Melinda McCaw, founder of Melinda McCaw Media navigates how to manage a scenario where your company is dependent on one major client (and what to do about it). We explore a simple strategy of knowing when to make that next hire, give some simple tips around profitability, and share perspective on revenue per employee. Obi Ron Kenobi (Ron Saharyan) makes a special guest appearance and provides Melinda with great advice on how to reduce the pains of significant cash ebbs and flows.

Episode 68: Imminent Need and Profitability with Jonathan Royce Feb 22, 2016

Show notes

This week we had the privilege of interviewing Jonathan Royce, founder of Hustling Hoagies – a brand new business that delivers hoagies to Univ. of Michigan football games and other local events. Join Mike Michalowicz and Chris Curran for a journey with Jonathan as we discuss where he’s making money and where he’s not, as well as the concept of imminent need. We explore where Jonathan has spent money which was of no value, and the technique of using Profit First to pre-allocate money toward profitability AND his own pay to determine how much money is truly available to infuse money back into his business. Welcome to Episode 68 of the Profit First Podcast!

Episode 67: Cash Reserves and Profitability with Robin Robins Feb 15, 2016

Show notes

This week Mike Michalowicz, Chris Curran and Kristina Bolduc welcome guest Robin Robins who took her business from $0 in 2003 to $10 million in revenue in 2015. This episode is chock-full of insights including why niche specialization helps grow your business (even if your niche industry collapses), the “enough is enough” stage, how to have a personal cash reserve and a business reserve, and how to diagnose the different products offerings you have and determine individual profitability for each one. Welcome to Episode 67 of the Profit First Podcast!

Episode 66: New Membership Organizations and Parkinson's Law with Erica Wernick Feb 08, 2016

Show notes

Erica Wernick, founder of LA Bound: a business that helps aspiring TV and Movie Actors/Actresses/Experts achieve their goals in Los Angeles. In this episode we learn what a new membership organization is like. We discover the essence of Parkinson’s Law: that every penny made is also spent. We guide Erica through her first step toward Profit First in setting up different allocation accounts, including running a basic profit assessment. In this episode we also explain cost vs. investment.

Episode 65: Health and Profitability with Bryn Davis Feb 01, 2016

Show notes

Bryn Davis joins Mike Michalowicz and Chris Curran to share his inspiring story of how his passion for healthy eating exploded into a booming business.

Episode 64: Married to Mayhem Part Two with Matt Perosi, Jamie Doughty & Krista Michalowicz Jan 25, 2016

Show notes

Matt Perosi and Jamie Doughty join Mike Michalowicz, Chris Curran, and Krista Michalowicz to dive deeper into the lives of being an entrepreneur, as well as what it’s like to be married to one.

Episode 63: Financing and Profitability with Rev. Dr. K. Bill Dost Jan 18, 2016

Show notes

Entrepreneur Rev. Dr. K. Bill Dost joins Mike Michalowicz, Chris Curran, and Kristina Bolduc. Bill deep dives into the common misconception about business financing and gives us some great tips on how to go about getting funding for your company.

Episode 62: Cash Flow and Profit First Tips with Kevin Davis Jan 11, 2016

Show notes

Kevin Davis joins Mike Michalowicz, Chris Curran, and Kristina Bolduc for Episode 62 of the Profit First Podcast! Kevin shares his story about his business and what he has been struggling with; Mike gives some great tips on setting up the Profit First system.

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