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.

newest first · ▶ plays the moment

It has you.

So your company must pay you.

And if it doesn't pay you appropriately for what you're doing, it's a matter of time before we resent it.

Most business owners say, ah, screw my salary.

I got to pay everyone else.

And years later, like I hate my company.

I am starving here.

So owner's salary is to pay you for the work you do.

This is what your lifestyle should be adjusted to.

Profit is the bonus for taking on risk that almost no one will do or take on.

So what I did, and I'm not trying to be pitchy here, it's in my book, but you can get online for free.

I and my team analyzed a thousand businesses in all different industries, media industry, restaurants, manufacturing, professional services.

We found that there is a percentage that the fiscally elite, the best performing companies in any industry will do.

Now it's based upon different revenue ranges.

So a smaller business, say you're a brand new startup, you make 250,000 or less in revenue.

which in the service industry is typically a single person operation.

If that is your case, you will probably take a diminished profit of maybe 10%.

You'll take an expanded percentage of owner's salary, maybe 50%.

You'll reserve 15 for tax.

The tax account in business is your business can reserve your tax liabilities and responsibilities regardless of your formation.

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