Nov 16, 2021
Rocky Lalvani joins Nancy to talk about his journey to finding a career he loves, podcasting and profitability. As part of his mission to open conversations about money, Rocky started a podcast and created an online course, which he explains in this episode. Rocky describes himself as an implementor, taking Mike Michalowicz’s idea of a cash flow system for entrepreneurs and helping entrepreneurs learn how to use this system. Rocky also shares some resources for startups, small businesses and entrepreneurs.
3:35 – Rocky explains his self-development journey and figuring out what he really wanted to do – open up conversations about money.
8:13 – Nancy and Rocky talk about the importance of a podcast name.
11:38 – Rocky shares how his podcast has helped with his sales funnel.
15:48 – Rocky describes the Profit First cash flow system for entrepreneurs.
24:09 – Rocky talks about the balance of visionaries and implementors.
30:06 – Rocky shares some surprising information he learned about his clients on LinkedIn.
34:30 – Rocky describes why he created an online course.
38:50 – Rocky offers a book that has been helpful to him.
“If I tell you I will teach you to be a millionaire in 10 years, nobody will buy that. If I tell you I will teach you to be a millionaire this weekend, everyone will throw money at you and they'll go broke. I can't do that. It's not what I believe. It's not with integrity. And through that journey, I came across this thing and I'm like, ‘What do you mean business owners don't look at their financials? How do you go into business and not understand the business of business?’ – Rocky Lalvani, chief profitability officer at Profit Comes First.
Profit First by Mike Michalowicz: https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4
Profit Answer Man Podcast: https://profitanswerman.libsyn.com/
Retirement Answer Man Podcast: https://www.rogerwhitney.com/blog
Podcast Answer Man: https://www.cliffravenscraft.com/podcasts/podcast-answer-man
Rocket Fuel by Gino Wickman and Mark C. Winters: https://www.amazon.com/Rocket-Fuel-Essential-Combination-Business/dp/1942952317
Traction by Gino Wickman: https://www.amazon.com/Traction-Get-Grip-Your-Business/dp/1936661837
The E-Myth Revisited by Michael E. Gerber: https://www.amazon.com/Myth-Revisited-Small-Businesses-About/dp/0887307280
The Road Less Stupid by Keith J. Cunningham: https://www.amazon.com/Road-Less-Stupid-Keith-Cunningham/dp/0984659269
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About the guest:
Rocky Lalvani was shocked to learn most business owners don't look at their financial reports! Can you believe that? It has to do with our mindsets around money and also fear and shame. When he realized how much of a problem this was, he knew this was his purpose to help business owners be profitable.
Rocky serves as chief profitability adviser for business owners. He teaches them how to ensure they get paid and make profit a priority! As a certified Profit First Professional, he implements Mike Michalowicz's Profit First System, where they change the accounting formula of Sales - Expenses = Profit to Sales - Profit = Expenses. This ensures Profit comes first! (P.S. It's not about money at all costs, people come before money!)
Rocky started with nothing when his parents immigrated to the United States when he was two years old, and his parents were in their 40s. It was his parents' second time starting over in life as they moved here to experience the American dream. Despite a lot of struggles and his mom passing away when Rocky was 7, he has been able to achieve financial and life success. Rocky loves to share his journey and inspire others to achieve their dreams even faster.
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