How to Get Different – In Just 7 Minutes with Michael Michalowicz

Check out episode
  • Learn what is the fatal flaw that you should be avoiding when running your own business
  • Find out more about what do clients really want from you and your business and how you can use that secret to attract more promising clients
  • Understand how having that “shareholder” mindset when it comes to handling your business will save you the sweat, attract more clients and make your business better

Resources/Links:

  • Wanting to Learn How You Can Grow Your Business and Turn Your Entrepreneurial Dream into Reality? Find out how to avoid burnout and be the best entrepreneur you can ever be: mikemotorbike.com

Summary

Have you ever yearned for growth in your business but just can’t seem to know where to start?

Do you feel so stressed with trying to do everything in and for your business but just see it going nowhere?

Are you ready to become the best and authentic business leader you can become?

Michael Michalowicz is an author, speaker, and an all-around advocate for small business owners and the entrepreneurial adventure.

In this episode, Michael talks about why a successful business starts with a cooperative team and a focused mindset. He also shares how you can overcome that identity crisis and bring your authentic self into your workplace, products, and your clients.

Check out these episode highlights:

  • 01:06 – Michael’s ideal client: “My ideal client is small business owners. I call them “micro-enterprises”. These are companies that do less than a million dollars, U.S., in revenue, and are in an underdog position.”
  • 01:52 – Problem Michael helps solve: “The problem is that small business owners feel abandoned, and they’re doing the work. It’s a feeling of overwhelm. It’s a feeling of struggle. And there’s an identity crisis.”
  • 02:39 – Typical symptoms that clients do before reaching out to Michael: “So if it’s, you know, Groundhog Day, after that famous movie where every day is a repeat of the prior day. If you feel like I’m working harder and longer, yet nothing’s working, you’re an ideal candidate to read my books.”
  • 03:31 – Common mistakes that people make before they find Michael’s solution: “The common mistake is to think that, ‘Because I did it, I’m the best to do it.’ ‘Because I had to do my accounting, I’m the best accountant for my business. Because I was doing the service, I’m the best to provide service.’ That is a fatal flaw.”
  • 04:31 – Michael’s Valuable Free Action (VFA): “I’ll give you something that I think can cause a radical shift and it’s one word, call yourself a “shareholder”. That’s the word. “Shareholder” of a small business.”
  • 05:46 – Michael’s Valuable Free Resource (VFR): Check out Michael’s Website: mikemotorbike.com
  • 07:09 – Q: What do clients want from us most? A: They want you to be profitable and wildly profitable. Now, here’s the caveat. They will never say that.

Tweetable Takeaways from this Episode:

“Don't fall victim to believing that you're the best suited to do it. I would argue, the number one job of an entrepreneur is to provide jobs, not to do jobs.” -Michael Michalowicz Click To Tweet

Transcript
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)

Tom Poland 00:10
Greetings, everyone, and a warm welcome to another edition of Marketing the Invisible. I’m Tom Poland, beaming out to you from little Castaways Beach in Queensland, Australia, joined today by Mike Michalowicz. Mike, good day. A very warm welcome, sir. Where are you hanging out?

Michael Michalowicz 00:23
Good day! It’s a pleasure to be with you. I am in New Jersey, right outside New York City.

Tom Poland 00:28
Okay, Eastern, so you’ve just gone 5 pm over there, just gotten 7 am here tomorrow. Last night was great by the way, Mike. You’re gonna love it! For those of you who have been hiding in a cave and haven’t heard of Mike, he’s an author, speaker. He’s an all-around advocate for small business owners and the entrepreneurial adventure. He has one of the most interesting websites you will ever go to, which is- because it’s different, and we’re going to get to that. But Mike’s a guy who walks the talk. He’s all about being different. And that is the title of our little interview today, “How to Get Different”. Mike can share with you how to do that in just seven minutes. Mike, our time starts now. Sir, question number one is who is your ideal client?

Michael Michalowicz 01:06
So my ideal client is small business owners. I call them “micro-enterprises”. These are companies that do less than a million dollars, U.S., in revenue, and are in an underdog position, meaning they don’t have the experience or the background or the network for their business. And they’re in the fight to grow a business. That’s my people.

Tom Poland 01:25
Right. Perfect! Under a million, small, micro, U.S. You go outside of New York-

Michael Michalowicz 01:32
Yeah, I have an office in Brisbane. So we have locations throughout the globe. We have four offices. We have one in Melbourne. We have one in the Netherlands. And another one in Germany we’ve opened up in Munich.

Tom Poland 01:46
Wonderful! So working well, global reach. Tell us about the problem you solve, Mike. We’ve got six minutes left.

Michael Michalowicz 01:52
Yeah, so the problem is that small business owners feel abandoned, and they’re doing the work. It’s a feeling of overwhelm. It’s a feeling of struggle. And there’s an identity crisis. They went into business to fulfill a dream of financial freedom or personal freedom, and that’s the two things that aren’t being fulfilled. They’re stuck in a struggle, and it feels, for my readers, like there’s no way out.

Tom Poland 02:17
Right. And so it’s kind of like on the hamster wheel, just running hard or running fast.

Michael Michalowicz 02:21
Yeah, that the only way to grow is by working harder and longer. That is actually not the way to grow, but that’s the compulsion they have.

Tom Poland 02:27
Right. That’s probably all they know. So tell us, then, about the symptoms. Question three, five and a half minutes left. So can you describe it more, what’s going on in this person’s life or their business that kind of gives them a heads up that they should find out more about how you do it?

Michael Michalowicz 02:39
Yeah, so if it’s, you know, Groundhog Day, after that famous movie where every day is a repeat of the prior day. If you feel like I’m working harder and longer, yet nothing’s working, you’re an ideal candidate to read my books. I find that the solutions are radically simple and often unexpected. But just working more to grow your business is not the solution. If you feel you’re in that trap, I can definitely serve you.

Tom Poland 03:03
Radically different but surprisingly simple. I love the combination of that! So tell us more- so working harder, working longer, there are probably cracks in their health and their relationships, even, because they’re just pouring blood, sweat, and tears into their business. But they clearly feel that there has to be a better way. They’re going to try stuff. They’re entrepreneurial. They’re growth-oriented. They’re gonna try stuff. They’re gonna make some mistakes. So question four is and four and a half minutes left, what are some of the common mistakes that you see people making out there before they find your solution?

Michael Michalowicz 03:31
The common mistake is to think that, “Because I did it, I’m the best to do it.” “Because I had to do my accounting, I’m the best accountant for my business. Because I was doing the service, I’m the best to provide service.” That is a fatal flaw. It’s the “Can do” syndrome. “Because I’ve done it, I can do it.” But, you shouldn’t do it. So we need to change that identity. Sadly, the terms “entrepreneur” and “business owner” become bastardized to hustle and grind. Meaning, if you’re gonna be successful, you got to work harder and longer. And we’re absorbing that. So don’t fall victim to believing that you’re the best suited to do it. I would argue, the number one job of an entrepreneur is to provide jobs, not to do jobs.

Tom Poland 04:12
Aw, beautiful! The number one function of an entrepreneur is to provide jobs, not do jobs. That would make the world a better place, including the life of the entrepreneur. Let’s go to question five, Mike, and three and a half minutes left. One valuable free action. It’s kind of like a top tip or a step in the right direction. It’s not going to solve the whole problem, but it might get folks started.

Michael Michalowicz 04:31
Yeah, I’ll give you something that I think can cause a radical shift and it’s one word, call yourself a “shareholder”. That’s the word. “Shareholder” of a small business. We call ourselves entrepreneurs and business owners. As I said, there’s a perception that means you have to do the work yourself. But a “shareholder” of a business doesn’t do the work. They collect profit and they render opinions. I own stock in a large company. I’m a shareholder. I give strategic direction through votes, and I share in the profit. We are all shareholders in our own small business. Maybe we even own 100% of the shares. Therefore, our responsibility is to render opinions and collect profits. Our others do the work, that’s the provider of jobs, but act as a shareholder. That term, that identity will be significant in a shift of your vantage point.

Tom Poland 05:12
Well, it could be massive because I know that where we look is where we go. So if we-

Michael Michalowicz 05:16
Look right!

Tom Poland 05:17
Yeah, and funnily enough, the body and the mind seem to follow the vision. So-

Michael Michalowicz 05:22
And it’s awkward! I call myself a shareholder in a small business and people look at me like a deer in headlights, like, “What’s going on?” But I have to explain it and re-justify it to myself and act consistently with it.

Tom Poland 05:32
And that is further imprinted into your own mind, that this is your reality.

Michael Michalowicz 05:36
That’s correct!

Tom Poland 05:37
Beautiful! Alright. Thank you, sir. Two minutes left. Question six, a valuable free resource. Where could we direct people to go to find out more about what you do and get more ideas from you?

Michael Michalowicz 05:46
I think you’ll find great resources there. It selflessly serves me too. I invite people to go to mikemotorbike.com. There’s a lesson here too

Tom Poland 05:54
Yes, please.

Michael Michalowicz 05:54
Why not Mike Michalowicz? No one can spell that name. I actually found out that I was pronouncing it wrong from someone from Poland. But mikemotorbike is a pneumonic technique. It’s simple and easy to remember. And on my website, of course, I have free resources. But I think what you’ll find that’s unique is all my books, The Impact Chapters, are available for free download. So not the fluffy stuff, but the stuff that will change your business. You can get any of that stuff for free and see if it serves you.

Tom Poland 06:18
Very clever! At mikemotorbike.com. And this is a classic example of how to turn what some people might perceive to be negative, people don’t know how to spell your surname, into a positive, like finger-looking good chicken. Right?

Michael Michalowicz 06:32
Right.

Tom Poland 06:32
All that fatty stuff on your fingers. All right. Yeah, pneumonic.

Michael Michalowicz 06:35
A pneumonic technique– when there’s a rhyme, but also it humanizes. You know, as an author, like yourself, as a podcaster, when you’re seen as an expert, there’s actually a little bit of resistance because it’s an authoritative position.

Tom Poland 06:46
So true.

Michael Michalowicz 06:47
By demoting our name, by making it more acceptable, and also to make fun of ourselves, we humanize ourselves. I think that’s absolutely critical. At the end of the day, we are just humans.

Tom Poland 06:57
Exactly! Yes. Like going to the toilet in the morning, hopefully, and putting trousers on one leg at a time and so on. Thank you, sir, for that humanity. Touch of humanity. 40 seconds left. Question seven, what’s the one question I should have asked you, but didn’t?

Michael Michalowicz 07:09
What do clients want from us most?

Tom Poland 07:11
And what do they want from you most?

Michael Michalowicz 07:13
This is shocking! They want you to be profitable and wildly profitable. Now, here’s the caveat. They will never say that. You’ll never hear a client say, “Hey, can you charge me more next time.” But what clients will say is, “I want the best of you. I want your undivided attention. I want you caring for me.” And the only way to serve them as the number one customer is if they are that. So don’t spend your time focusing on someone else. Be profitable, so you can be fully attentive.

Tom Poland 07:38
Mike Michalowicz, thank you so much for your time.

Michael Michalowicz 07:39
Had enjoyed. Thanks for having me!

Tom Poland 07:37
Thanks for checking out our Marketing The Invisible podcast. If you like what we’re doing here please head over to iTunes to subscribe, rate us, and leave us a review. It’s very much appreciated. And if you want to generate five fresh leads in just five hours then check out www.fivehourchallenge.com.

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