Are you struggling to grow your business while maintaining a healthy work-life balance? Discover how to achieve both financial success and personal freedom with expert insights from Mike Abramowitz.
Mike Abramowitz, a business coach and co-founder of Better Than Rich, shares his journey from selling Cutco knives to helping hundreds of business owners streamline their operations and reclaim their time. With a background in direct sales and a passion for personal growth, Mike offers valuable lessons on building systems, maximizing referrals, and achieving what he calls “3x freedom” – time, money, and location.
In this episode, Mike delves into the mindset shifts and practical strategies that can transform a struggling business into a thriving enterprise. He emphasizes the importance of delegation, leveraging technology, and focusing on high-value activities to scale your business without sacrificing your personal life.
Additionally, Mike discusses the power of referrals, the common pitfalls of home service businesses, and the true meaning of being “rich” beyond just financial wealth. His insights on emotional clarity and presence provide a holistic approach to success that goes beyond traditional business metrics.
If you’re ready to take your business to the next level while reclaiming your time and freedom, don’t miss this enlightening conversation with Mike Abramowitz on the Wealthy Wellthy podcast.
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Top 5 Takeaways From This Conversation:
- How reframing “sales” as “influence” can transform your approach and results in business!
- Why building systems and operations is the key to creating a business that can run without you!
- The power of focusing on warm leads and referrals instead of costly cold marketing strategies!
- How the “3x freedom” of time, money, and location is the true measure of being rich!
- Why maximizing value from existing clients is often an overlooked goldmine for business growth!
Here Are My Favorite Quotes:
- “All sales means is influence. And people might say, what’s the difference between influence and manipulation? It’s intent. Manipulation is for my own self interest. Influence is for the other person’s self interest.”
- “My mess is my message. And that really stuck with me big time. I was like, what can I do to turn this valley and this pain of my twenties and turn it into some sort of gift?”
- “We need to work hard, but we need to make sure that we’re working hard at the right things. That’s essentially what Andrew helped me with – what are the things that somebody else can do?”
Time Stamps:
- [5:43] Reframing sales as influence and skill
- [13:46] The mindset difference in successful salespeople
- [19:59] Mike’s background as youngest of eight
- [25:43] Money journey from debt to accredited investor
- [33:20] Working hard on the right things
- [40:26] Common problems for home service businesses
- [46:37] Defining “better than rich” as 3x freedom
MYTH BUSTED: “Working harder is the key to making more money in your business.”
Mike Abramowitz, a successful entrepreneur and business coach, debunks the common myth that simply working harder is the solution to increasing business revenue. Despite his background in direct sales and a strong work ethic, Mike discovered that pedaling faster wasn’t the answer to leveraging his business or gaining more time. The breakthrough came when he hired a business coach who helped him implement systems and operations that allowed his business to run without him.
As Mike shares, “We need to work hard, but we do need to make sure that we’re working hard at the right things.” The key insight was learning to delegate tasks, automate processes, and focus on high-leverage activities. By implementing virtual assistants for administrative work, using technology for scheduling and automation, and concentrating on $200-$1000 per hour tasks like sales, training, and strategy, Mike grew his income from $70,000 to $400,000 in the same industry.
The myth-busting revelation? Success in business isn’t about working harder or longer hours—it’s about working smarter by implementing systems, delegating effectively, and focusing on high-value activities that truly move the needle. As Mike emphasizes, “I didn’t just buy back time so I could go make a sandwich. I bought back time so I could have space to think creatively about how can I build this machine even better and smoother and faster so it could run without me.”
Resources Mentioned
How to Win Friends and Influence People by Dale Carnegie – https://www.amazon.com/How-Win-Friends-Influence-People/dp/0671027034
The 7 Habits of Highly Effective People by Stephen Covey – https://www.amazon.com/Habits-Highly-Effective-People-Powerful/dp/0743269519
