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The Money Habit: Breaking Entrepreneurial Poverty with Mike Michalowicz
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What if the real solution to your financial stress isn’t earning more—but spending with intention?
In this episode, I chat with Mike Michalowicz, author of Profit First, about the behavioral traps that keep entrepreneurs financially stuck, even as their revenue grows. Mike shares how understanding your financial season can transform how you make decisions, and why traditional budgeting doesn’t work for most founders. We dive deep into a refreshingly simple habit: creating separate bank accounts to gain visibility, control, and discipline over your money. This isn’t about spreadsheets or financial gurus—it’s about rewiring how you interact with cash. If you've ever felt overwhelmed or unsure where your money goes, this episode will show you how to take control, without needing to become a finance expert.
Tune in now to learn the exact habits that help business owners get ahead, without earning a cent more.
Key Takeaways:
1. Recognizing Your Financial Season: Mike explains the four financial seasons and how knowing where you are shapes every money decision.
2. The Truth About Parkinson’s Law and Cash Flow: We discuss why your expenses rise with your income—and how to stop it before it’s too late.
3. Control Through Separation: The Power of Multiple Accounts: Learn the simple system of creating specific bank accounts to control spending and direct money intentionally.
4. Building Habits Over Hustle: Why the path to financial clarity isn’t about working harder—it’s about setting up the right behaviors in your banking.
5. Taking the Emotion Out of Money Decisions: Mike shares how to stop managing money with feelings and start making decisions with structure.
Connect with Mike Michalowicz:
Website: https://mikemichalowicz.com
LinkedIn: https://www.linkedin.com/in/mikemichalowicz/
YouTube:www.youtube.com/@MikeMichalowiczOfficial
Instagram: instagram.com/mikemichalowicz
Books: https://mikemichalowicz.com/books/
Connect with Lean Marketing:
Website: https://leanmarketing.com/
Programs: https://leanmarketing.com/accelerator
Books: https://leanmarketing.com/books
Podcast: https://leanmarketing.com/podcast
LinkedIn: https://www.linkedin.com/company/successwise/
YouTube: https://www.youtube.com/@LeanMarketingOfficial
Free Resources: https://leanmarketing.com/learn
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