Mike Michalowicz

Mike Michalowicz
Mike Michalowicz

Author of The Toilet Paper Entrepreneur
Born Michael Michalowicz
September 24, 1971 (1971-09-24) (age 40)
Boonton, New Jersey
Nationality American
Known for Entrepreneurship
Website
ToiletPaperEntrepreneur.com

Michael Michalowicz (born September 24, 1971) is an American entrepreneur, lecturer,[1] author and television personality.[2] He writes for CNBC Small Business[3] and is a small business columnist for The Wall Street Journal.

He is the author of the book The Toilet Paper Entrepreneur [4] [5] [6] (published Sept. 2008), is an advocate of a business philosophy by the same name, [7] [8] [9] [10] manages a behavioral e-marketing firm called Obsidian Launch [11][12] and is the "business rescue" segment host for MSNBC's Your Business. [13]

He also hosted the reality television program called Bailout!.[14]

Michalowicz is a monthly columnist for The Wall Street Journal's small business section, and writes the "Small Business Shortcuts" series.[15] He is a regular contributor to Entrepreneur Magazine and is also a columnist for American Express's "Open Forum" series.[16]

He was a recurring entrepreneurship expert for CNBC's The Big Idea with Donny Deutsch. He had over ten appearances, including the CES Roadshow series. [17] Michalowicz has also appeared on NBC, MSNBC, Fox News, ABC News Now, CNBC's On the Money and Pat Croce's Down To Business. [18] [19] [20] [21]

He is a lecturer on the subjects of entrepreneurship, sales, and behavioral marketing techniques [22] at universities, corporations and organizations throughout the United States and Europe.[23]

He authored the book and hosted the reality program as "Mike" Michalowicz as opposed to under his given name, Michael. According to the author's biography on the Toilet Paper Entrepreneur website, his last name, Michalowicz, is pronounced mi-CAL-o-witz.[24]

Contents

Philosophy

Michalowicz has lectured at US and international universities, keynoted corporate gatherings,[25] authored a book, published articles for national periodicals, and made national television and radio appearances as an expert discussing entrepreneurial concepts[26] and approaches he terms as a Toilet Paper Entrepreneur. [27] [28] [29] [30] [31] This name is derived from the following analogy paraphrased from Michalowicz's book:

Have you ever been in the bathroom only to realize there are a mere three sheets of toilet paper left...but somehow, often with the help of the trashcan remnants, manage to make it work? This is how a Toilet Paper Entrepreneur runs their business... they make do with what they have, pull "miracles" out of the trash and make more and more with less and less.

The Toilet Paper Entrepreneur philosophy is based on the notion that not only can one start a business with fewer resources ,[32][33] but that having fewer resources can actually work to your benefit .[34] For example, having fewer resources can force the business to address an issue in highly innovative ways versus simply spending money blindly to solve it. [35] [36]

Michalowicz's writing and interview style is blunt honesty, speckled with humor.[37] In an interview with Inc. Magazine, Michalowicz was asked "how to balance work and family life". His response was "You don't. And the fact that you are asking this before you have even put in your first five years with a new business, means that you probably are not cut out to be an entrepreneur." [38]

The Toilet Paper Entrepreneur (Book)

In September 2008, Obsidian Launch released Michalowicz's book The Toilet Paper Entrepreneur. The book has subsequently been translated into multiple foreign languages, such as Spanish, Portuguese and Russian. The irreverent[39] book is an entertaining hard-edged read mixed with valuable business lessons from an experienced entrepreneur.[40] [41]

The author argues a successful entrepreneur embodies the flexibility and vision many large companies lack. Michalowicz states that hard-line traditional business planning is ineffective and often detrimental; and that successful growth of a business requires a dynamic planning method, called a 3 Sheet Strategy.[42]

Among other growth techniques, Michalowicz argues the leap frogging strategy of significantly pushing ahead in one "area of innovation", either Price, Convenience or Quality. Michalowicz shows examples of this, including the rise and fall of Blockbuster, Netflix and Redbox.[43]

In The Toilet Paper Entrepreneur, Michalowicz argues that the General Accepted Accounting Principles (GAAP), while a standard practice for measuring a company's P&L, is in fact detrimental to an entrepreneur's money management. He argues the use of a method he calls Profit First Accounting (PFA) instead of GAAP alone.[44]

In the book, Michalowicz occasionally pulls from his own entrepreneurial background, explaining how funding actually hampered his company's growth. Ultimately it was the lack of invest funds that helped his businesses grow quickly and healthily.[45]

Michalowicz manages a website, also called The Toilet Paper Entrepreneur, with a large volume of resources for entrepreneurs.[46]

Obsidian Launch

Michalowicz is Founder and President of Obsidian Launch,[47] a firm specializing in behavioral web optimization.[48] [49]

Bailout! (Reality Television Program)

Michalowicz is was the host of the reality television program Bailout! The executive producer for Bailout! is Wil Surratt, the former executive producer of The Big Idea with Donny Deutsch. Bailout! highlights struggling entrepreneurs and Michalowicz is given 24 hours to fix their businesses.[50] Bailout! was subsequently canceled and now airs on "webisodes" through BBE distribution.

Select television appearances

Michalowicz is a recurring, small business expert, guest on CNBC (over 10 appearances), ABC (over 3 appearances), MSNBC (over 7 appearances), including:

Dec 19, 2007 CNBC's The Big Idea with Donny Deutsch - Thinking Big Segment[51]

Dec 27, 2007 CNBC's The Big Idea with Donny Deutsch - Alienating Your Base Segment[52]

May 28, 2010 MSNBC's Your Business (TV series) - Men & Women In Business Segment[53]

Aug 27, 2010 MSNBC's Your Business (TV series) - Getting Your First Client[54]

Apr 3, 2011 MSNBC's (Michalowicz Hosting) Your Business (TV series) - Makeover On Main[55]

July 18, 2011 MSNBC's Your Business (TV series) - Protecting Your Brand[56]

September 9, 2011 MSNBC's (Michalowicz Hosting) Your Business (TV series) - Saving Swing Sets[57]

Early career

Michalowicz is a native of Boonton, NJ. He graduated from Virginia Tech with two degrees, one in finance and one in management science.[58] He launched his first company, Olmec Systems, at the age of 24, in August 1996 .[59] During his tenure at Olmec, he was recognized by the Small Business Administration as The Young Entrepreneur of the Year .[60] Michalowicz completed MIT's 'Birthing of Giants' entrepreneurial program in 2003. The program is sponsored by YEO (Young Entrepreneurs Organization) and Inc. Magazine, and is facilitated at MIT facilities by professors, lecturers & entrepreneurs.[61] He sold the company through a private transaction on December 31, 2002. On January 1, 2003, he launched his second company, PG Lewis & Associates (PGLA), which grew to national prominence by 2005,[62] by completing large data forensics projects for historically significant court cases including the Enron collapse [63] .[64] PGLA was acquired by Protiviti, a division of Robert Half International (NYSE: RHI) on March 1, 2006. Terms were not disclosed.[65]

His current company, Obsidian Launch,[66] is a behavioral web design and web optimization company, that employs monitoring techniques to dynamically adjust web sites to capture visitors' natural behaviors.[67]

References

  1. ^ Kathleen Saunders. "Techniques From 'The Toilet Paper Entrepreneur:' A Student Reflection on the Counselors Academy Conference". prsa.org. http://www.prsa.org/Conferences/CounselorsAcademy/SaundersBlogPost. 
  2. ^ Dale Neal. "Asheville business gets MSNBC makeover". Citizen Times. http://www.citizen-times.com/article/20110727/NEWS/307270024/Asheville-business-gets-MSNBC-makeover. 
  3. ^ Mike Michalowicz. "10 Biggest Small Business Mistakes". CNBC. http://www.cnbc.com/id/45132538/. 
  4. ^ Michalowicz, Michael (2008). The Toilet Paper Entrepreneur. Obsidian Launch, LLC. ISBN 0981808204. 
  5. ^ James Park. "Special Report: Innovate in a Recession". U.S. News & World Report. http://www.usnews.com/articles/business/small-business-entrepreneurs/2009/03/03/special-report-innovate-in-a-recession.html?PageNr=2. 
  6. ^ Cindy Perman. "Businesses You Can Start for Under $5K". CNBC. http://www.cnbc.com/id/43184860?__source=ft&par=ft. 
  7. ^ Michelle Fox. "Financing Your Small Business In A Tough Economy". CNBC. http://www.cnbc.com/id/44023776. 
  8. ^ Deborah Jeanne Sergeant. "Mike Michalowicz: A Quirky Approach to Business". Home Business Magazine. http://homebusinessmag.com/newsstand/interviews/mike-michalowicz-quirky-approach-business. 
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  11. ^ Alex Lindahl. "Obsidian Launch: Accelerate Your Business". http://collegemogul.wordpress.com/2008/05/26/obsidian-launch-accelerate-your-business/.  "Mike Michalowicz Biography". http://www.cnbc.com/id/22298719/. 
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  13. ^ MSNBC's Your Business. "American Business: Makeover On Main with Mike Michalowicz". http://www.openforum.com/videos/american-business-makeover-on-main#. 
  14. ^ Walter O'Brien. "Television show films episode in Lebanon Borough, gives restaurant a 'reality' check". http://www.mycentraljersey.com/article/20090526/NEWS/905260350/1002/newsfront/Television+show+films+episode+in+Lebanon+Borough++gives+restaurant+a++reality++check. 
  15. ^ Mike Michalowicz (July 22, 2010). "Small Business Shortcuts". The Wall Street Journal. http://online.wsj.com/article/SB10001424052748704684604575381010512997300.html. 
  16. ^ Rex Huppke (July 28, 2011). "I Just Work Here". Chicago Tribune. http://articles.chicagotribune.com/2011-07-18/features/ct-biz-0718-work-advice-huppke-20110718_1_quiet-time-weight-watchers-nap-time. 
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  22. ^ Mary Mann. "Toilet Paper Entrepreneur Coming to SOMA". Maplewood Patch. http://maplewood.patch.com/articles/toilet-paper-entreprenue-coming-to-soma. 
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  28. ^ Bruce & MG Howard. "Bruce & MG - After Their Appearance on The Big Idea". CNBC. http://www.cnbc.com/id/22310362/. 
  29. ^ Adam Davidson. "Entrepreneurs Reflect on Wall Street's Scary Week". National Public Radio. http://www.npr.org/templates/story/story.php?storyId=18427612. 
  30. ^ Maria Lemus. "Multi-millionaire to share business advice". Daily Bruin. http://www.dailybruin.ucla.edu/news/2009/jan/27/multi-millionaire-share-business-advice/. 
  31. ^ Nate Breg. "YET event brings together students from local colleges". The Tufts Daily. http://www.tuftsdaily.com/1.1600748-1.1600748. 
  32. ^ Paul B. Brown (November 24, 2009). "How to Cut Costs in Bad Times (and Good)". New York Times. http://www.nytimes.com/2009/11/24/business/smallbusiness/24toolkit.html?_r=1. Retrieved May 12, 2010. 
  33. ^ Linsey Knerl. "Profile: The Toilet Paper Entrepreneur". American Express, OPEN. http://www.openforum.com/idea-hub/topics/money/article/cardmember-profile-the-toilet-paper-entrepreneur-linsey-knerl. 
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  35. ^ Mike Michalowicz. "Things You DON'T Need To Launch Your Business". CNBC. http://www.cnbc.com/id/26161657/. 
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  37. ^ Ryan Paugh. "Chances Are You’re A Toilet Paper Entrepreneur". Brazen Careerist. http://www.brazencareerist.com/2010/07/01/toilet-paper-entrepreneur. 
  38. ^ Max Chafkin. "How to Sell Your Business and Gaga Sells Gadgets". Inc. Magazine. http://blog.inc.com/archives/2010/01/how_to_sell_you.html. 
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  55. ^ "Your Business (Business Makeover Edition) // Hosted By Mike Michalowicz". MSNBC. http://www.openforum.com/idea-hub/topics/innovation/video/american-business-makeover-on-main. 
  56. ^ "Your Business". MSNBC. http://www.openforum.com/idea-hub/topics/managing/video/business-answers-protecting-your-brand-government-contracts. 
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  66. ^ "About Us, Success is doing what you love". http://www.obsidianlaunch.com. 
  67. ^ Obsidian Launch Website (Copyright 2010). "Obsidian Launch, Launch Process". http://obsidianlaunch.com/plan.html. 

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