Michael Eckstein started doing accounting services for his father, but an “Aha!” moment changed his mindset about accounting. From compliance, his motivation for offering his services evolved into consulting, helping business owners build their businesses according to their goals. He also shares some interesting insights about success and business scaling.
Michael believes that you don’t necessarily have to be the best in what you do. Being above average can be enough for you. He also thinks that not all businesses should be scaled. It depends on what your goals are and what lifestyle you want to live.
[00:01 – 04:06] Opening Segment
Let’s get to know Michael Eckstein
How Michael became a top-rated accountant in his area
[04:07 – 09:31] Michael’s Outlook on the accounting business
Is accounting really a stable career?
Michael shares his experience
From compliance to consulting
Michael’s change in his accounting approach
You can live as just being above average and not necessarily the best
[09:32 – 20:04] The Right Business Advice For You
Michael reveals the “Aha!” moment that changed his life
How to find a business advice relevant to your business
Michael shares his secrets
Small business vs startup
What’s really the difference?
[20:05 – 35:17] Buying or Exiting a Business
What you should know about exiting a business
What if you want to buy a business?
Here are Michael’s tips for you
Michael shares his story of starting his newsletter
[35:18 – 39:39] Knowing Your Audience
The bad practices of creating a newsletter you should avoid
The power of being relatable to your clients
Here’s what we mean by “Know your audience”
[39:40 – 47:47] The Contrarian 3-Pack
What would you say is the most contrarian investment you've made?
Make sure you have plans in your retirement
What's your favorite activity to do with your friends and family outside of work?
What offers you the most fulfillment in life?
The pieces of advice he gives
Connect with Michael. Links available below.
“Figure out exactly where you’re trying to take your business, how it fits into your goals, then pick advisors from there." – Michael Eckstein
“Remember that outside advice isn’t supposed to replace your thoughts. It’s supposed to supplement them.." – Michael Eckstein