Are you swimming upstream?

Are you swimming upstream in your business? There’s a guy I found who may have some ideas that could help.

Some of you may know that I’ve written a few things. In doing some research, on a manuscript I’m working on, I came across this guy. His name is Mike Michalowicz. I was researching information on what luck has to do with business success. As a separate side note; usually, luck plays a greater role in success than most of us are willing to admit. Mike has been a successful entrepreneur, author, and columnist for the Wall Street Journal. I’ve included his Wikipedia page here. Mike Michalowicz.

There’s a million entrepreneur guru’s out there who give advice such as work five percent harder, or borrow as much as humanly possible, so why did I single him out? I don’t know this man from Adam.

I picked him for a couple of reasons. First, he’s a pretty darn good speaker. He keeps is thoughts short and sweet, but they have real merit behind them. Second, his ideas are simple and easy to implement.

He’s written 5 books which I’ve listed below:

• The Toilet Paper Entrepreneur – September 2008

• The Pumpkin Plan – July 2012

• Profit First – July 2014

• Surge – June 2016

• Clockwork – August 2018

While I’ve only read portions of his books, I’ve watched a couple of his videos and was impressed with what he said.

He has a number of philosophies and ideas, but let me give you just one from his book Profit First. The premise is that you divide each piece of revenue (Sales) by category, and set up bank accounts for each. Here is a graph. Each tranche is a different Bank account. When money is received from a client it’s broken down into the categories. At the appropriate time the separated monies are paid to taxes, payroll, etc.

I’m including a video I found on YouTube called Different is Better, where he talks about companies that have succeeded by doing things different. Hope you find something to inspire you if you're swimming upstream. Have a great week.