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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That is fundamentally the key.

We do this at your bank because it's a behavioral intercept.

So most entrepreneurs manage their business by logging to their bank account.

We have accounting statements, but we don't read those.

We have a simpler system for most of us.

Log into the bank account and see what we have and spend accordingly.

By having multiple accounts at the bank determined or designated for different responsibilities, we know what that money is intended for.

And it will, before we spend it, we know how to spend it.

And that's the key.

First, I don't even look at the spreadsheet.

I know what I'm doing.

Or I look at the spreadsheet and say, well, let me just play with the numbers.

And we unwind the whole system.

Now, the reality is for most entrepreneurs, if they don't have Profit First, is they have a single primary checking account at their bank.

Maybe they have another one for payroll or something.

But they have one or two bank accounts.

What happens is all the funds go in there and they pay all the bills from it.

And what I equate this to is imagine Thanksgiving dinner and you cook a turkey or something.

And then instead of carving up the turkey, you say to the guest, everyone fight for it.

Whoever wants it most wins.

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