“Being in the right place at the right time isn’t about fate, or worth, or karma, or tiny green Irish men. Luck is about deliberate action. There is no magic bullet to timing the market. We can’t get it perfectly right, but we can improve the odds.”
I always have a blast talking with Mike Michalowicz—Mike is the author of several business books, one of which—Profit First—completely changed how I handle my expenses and banking. But alas, today we’re talking about his latest book, Surge, on how entrepreneurs can make their own luck by learning to spot trend waves and ride them effectively, and when to “dump” a wave as it’s about to crash upon the shore.
Be sure to also check out the interview Mike did with me on pivoting a business to Profitability.
MORE ABOUT MIKE MICHALOWICZ
Mike Michalowicz is the entrepreneur behind three multimillion dollar companies and is the author of Surge: Profit First, The Pumpkin Plan and what BusinessWeek deemed the entrepreneur’s cult classic, The Toilet Paper Entrepreneur. Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Today Mike travels the world as entrepreneurial advocate.
TOPICS WE COVER
The SURGE process (a surfing analogy)
“You don’t get to make the waves, you just get to ride them.”
The biggest mistake most entrepreneurs make when paddling after waves
How to effectively spot swells in the distance and find the best set to ride
How to avoid becoming a “Bob” – people who go out into the ocean bobbing on their surfboard, never actually riding the waves
How to match the pattern and speed and direction of a trend wave
When to move from exerting energy to capturing energy
What to do when the wave ends; how to spot the crash and pivot, dump the wave
The trap of looking too far out
How to pick which set to ride when you have multiple ideas or options
Why micro-niches are where the best ridable waves are.
The buzzword to listen for that indicates an industry is about to fade out or be replaced
Handling success: are you prepared?
Why the founder of the cronut decided not to scale by franchising his business
Why it is pointless to try to outdo the competition
“Pursue different, not better.”
PODCAST: SURGE WITH MIKE MICHALOWICZ
Previous Pivot Podcast: Success on Your Own Terms with Derek Sivers
Check out other episodes of the Pivot Podcast here. Be sure to subscribe via iTunes, Android or SoundCloud, and if you enjoy the show I would be very grateful for a rating and/or review! Sign-up for my twice monthly #PivotList newsletter to receive curated round-ups of what I’m reading, watching, listening to, and new tools I’m geeking out on.