As an entrepreneur, one of the hardest things to do is to walk away from your business. Coincidentally, it’s one of the best moves you can make to allow it to grow.
Sure, you can run a business around the clock, but at what cost?
Today’s guest, Mike Michalowicz, is an author and entrepreneur who regularly takes four-week vacations even though he runs multimillion-dollar businesses. Many of us would shiver at the thought of doing that. Mike found that to be the best decision he had ever made.
By doing that, Mike was awarded the greatest gift of them all: Time he can now spend with his family and friends.
He’s been able to travel with his wife more, go on long road trips, and bond with his children. His business didn’t skip a beat and even grew beyond expectations.
In this episode, we dig into the steps for creating a business that runs itself, hiring A-players that will have each other’s back, lessons he learned from distancing himself from work, and so much more.
Mike Michalowicz Podcast Highlights
- Find out how Mike can work the least hours he’s worked in his life and still grow his business.
- Do you feel uneasy at the idea of taking a four-week vacation? That might be a sign to pull the trigger.
- Learn why each employee in Mike’s business is allowed to take a month-long vacation.
- Find out why Mike calls himself a “shareholder” instead of an entrepreneur.
- Realizing he was the biggest bottleneck in his business.
- Why Mike believes SOPs are often a waste of time for your business. Learn what he does instead!
Mike Michalowicz Links & Other Resources
- Mike Michalowicz’s Website
- Follow Mike Michalowicz on LinkedIn | Facebook | Instagram | Twitter
- Clockwork: Design Your Business to Run Itself by Mike Michalowicz
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
- Lin Manuel Miranda
- Alexander Hamilton by Ron Chernow
Mike Michalowicz Bio
Mike Michalowicz had built four multi-million dollar companies and sold two of them: one to private equity and another to a Fortune 500.
Mike has been an entrepreneur for over two and a half decades. After running multiple successful businesses that made him a lot of money, he ran an angel investing firm that led him to declare bankruptcy. Despite losing a fortune, he started again without losing his drive to find better ways to grow healthy, strong companies. Mike has devoted his life to helping people escape “entrepreneurial poverty” and live prosperous lives.
Mike is the creator of Profit First, used by hundreds of thousands of companies across the globe to drive profit. He is the creator of Clockwork, a powerful method to make any business run on automatic.
Today, Mike leads two new multi-million-dollar ventures as he tests his latest business research for his books. He is a former small business columnist for The Wall Street Journal and a business makeover specialist on MSNBC. Mike is a popular main stage keynote speaker on innovative entrepreneurial topics; and is the author of Get Different, Fix This Next, Clockwork, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur. His books have been translated into 10 languages.
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