Dr. Don is joined for a second time by Mike Michalowicz, entrepreneurial expert and author of multiple financial guidebooks. Mike and Dr. Don spoke in a previous episode, Increase the Vitality of a Chiropractic Business with Mike Michalowicz, on giving chiropractors the tools to eradicate debt and to increase profitability. Today, Mike is discussing the business hierarchy of needs and sharing information from his new book, Fix This Next: Make the Vital Change That Will Level Up Your Business.

Mike and Dr. Don also discuss current events, specifically issues that are arising from forced closures due to COVID-19 and what business owners can do to make the most of this. Don’t sit at home and wait for this to pass. Mike recommends, among other ideas, creating online training videos for clients and staff or preparing for a surge of clients looking to make up training when businesses reopen.

Mike’s new book is available on April 28th online on Amazon and Barnes and Noble. If you’re looking to get a head start, check out his website at fixthisnext.com for uation software to uate your business before the book release.

Key Takeaways:

• Mike’s take on the biggest challenge for entrepreneurs. [2:10] 
• The businesses hierarchy of needs. [5:10]
• Examples Mike has seen of other businesses that had to scrap focusing on the top of the pyramid and get back to basics. [8:26]
• Mike links his other books back to the hierarchy and explains how it all blends together. [10:36]
• Recommendations for chiropractors who may have to close for a couple of weeks due to COVID-19. [12:30]
• Recessions as a jumping off point for new businesses. [18:10]
• Mike’s important words for entrepreneurs. [21:29]