Mike Michalowicz

speaker

1,537 appearances 2 recordings 1 series first heard Feb 2026 last heard 20 Feb

Mike Michalowicz’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Feb 2026 with 2.

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Young and Profiting (YAP) with Hala Taha: Entrepreneurship and Self-Improvement Podcast · Mike Michalowicz: The #1 Financial Principle for Building a Profitable Business | Finance | YAPClassic · 20 Feb 2026 podcast

So we don't have online banking, typically.

We don't have starter checks ever.

We don't have an ATM card.

And so in our case, we go to the extreme.

We have six months of reserves.

for full operating expenses.

And here's something that's interesting.

With three months or six months reserves, that can stretch far more than three months.

Because if COVID happens, you don't just sit here and just keep spending money.

After month one, you're like, oh, this is not going to come back.

I need to start controlling costs.

So you start reducing your costs, but you still have that runway.

So three months can last six or eight months.

Six months can last a year to a year and a half.

So we set up a separate account.

Now, what we did here at our office is we use an online bank in this case, but Kelsey, who's the president of our company, she has the username for the account.

I have the password, but we don't know, the other doesn't know the party, the other's code.

So it's kind of like the nuclear keys, like, you know,

unlock a nuclear system, she has to enter the username and she blocks it.

I enter the password and we're in the system.

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