Mike Cassidy is a corporate CEO, entrepreneur, educator, and an author.

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Guest Resources

The Profitable Entrepreneur Book – Visit the website and get a copy of Mike’s practical, illustrated guide to building and sustaining a profitable business.

The Profitable Entrepreneur on Amazon – Your Practical, Essential Roadmap to Grow and Sustain Your Business. Get the book on Amazon.

3 Value Bombs

1. Profits are the result of satisfied customers. Focus on meeting their needs first, and the money will follow.

2. Confirm market demand by bringing your customer into the process early and often.

3. Making money every day comes down to managing four variables: volume, price, direct costs, and fixed costs.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Profitably Grow and Sustain Your Business with Mike Cassidy

[1:28] – Mike shares something he believes about becoming successful that most people disagree with.

Don’t start with the objective of making more money. Start with satisfying customers.
Profits are a byproduct of delivering real value.

[2:35] – Mike talks about opportunity as the driver of profitable growth.

Opportunity means proven demand for something new.
The journey: find opportunity → idea generation → proof of concept & profitability → capacity to produce.

[3:37] – Mike talks about idea generation as a growth strategy.

Identify who is impacted by the opportunity and why they’d demand it.
Link the target customer to the reason for their demand and then determine your best response.

[4:52] – Mike talks about confirming demand and profitability.

Your early idea is preliminary, don’t sell it yet.
Bring customers into the process: ask, listen, and learn (talk 20%, listen 80%).
Learn competitor strengths/weaknesses and refine your value proposition through interviews, prototypes, or samples.

[7:16] – A timeout to thank our sponsors!

HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!
Thrivetime Show: Attend the world’s highest rated business growth workshop taught personally by Clay Clark and featuring Football Star & Entrepreneur, Tim Tebow & President Trump’s Son Eric Trump at ThrivetimeShow.com/eofire!

[9:38] – Mike talks about forming and sustaining a business model.

Build an interdisciplinary team to confirm demand, profitability, and execution capacity.
Brainstorm what competencies, people, or processes are needed to fulfill your promise profitably.

[11:55] – Mike shares about making money every day.

Profits = (Revenue × Contribution Margin Ratio) – Fixed Costs.
Four variables: unit volume, price, direct cost, fixed cost.
Have your team “what if” scenarios daily to make informed decisions.

[13:30] – Mike talks about business plans and financing.

Don’t rush to write a business plan. Build first an authentic, customer-backed story.
Show proven demand, relationships, and a clear value proposition to increase your odds with investors.

[15:10] – Call to action.

The Profitable Entrepreneur Book – Visit the website and get a copy of Mike’s practical, illustrated guide to building and sustaining a profitable business.
The Profitable Entrepreneur on Amazon – Your Practical, Essential Roadmap to Grow and Sustain Your Business. Get the book on Amazon.

[17:24] – Thank you to our Sponsors!

HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!
Thrivetime Show: Attend the world’s highest rated business growth workshop taught personally by Clay Clark and featuring Football Star & Entrepreneur, Tim Tebow & President Trump’s Son Eric Trump at ThrivetimeShow.com/eofire!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!