If you could only choose one of the needs of your business to meet, which would you choose?
Humans have a hierarchy of needs. It starts with psychological needs like water, food, and air. We have a need for safety — personal security, access to resources. We have a need for belonging, love, esteem, and at the very top, self-actualization. And just like humans have a hierarchy of needs, so too do our businesses. As humans, we’re instinctually wired to go for these things, and in the right order, but our businesses are not.
Mike Michalowicz, author of the best-selling book ““Profit First” and the upcoming book “Fix This Next,” talks about how you can adapt your business to focus on the things that matter most, and in the order that makes the most sense.
To learn more, and for the complete show notes, visit: the1thing.com/podcast.
In this episode, you will learn…
- [04:35] What inspired Mike to write “Fix This Next”
- [08:54] The 5 levels of business needs
- [12:58] The recession response pattern
- [22:31] The mindset that you need to adopt
- [32:29] Our obligation to sell in this market
- [36:05] How to figure out what to fix next
- [37:48] Focusing on profit first
- [42:43] How to implement the “Fix This Next” model effectively
- [50:48] The 10-10-10 Method
- [58:42] Block control
Links & Tools From This Episode
- Learn more: mikemotorbike.com
- Read: “Profit First”
- Read: “Fix This Next”
- Twitter: @MikeMichalowicz
- Facebook: MikeMichalowiczFanPage
- Instagram: @mikemichalowicz
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