The StartUp Blog at PartnerUp

Mike Michalowicz, author of The Toilet Paper Entrepreneur, launched two multi-million dollar companies before the age of 30 and now fosters the startup businesses of young entrepreneurs with his newest multi-million dollar venture, Obsidian Launch. A graduate of MIT’s “Birthing of Giants” Entrepreneurial Program, Mike is a recurring guest on CNBC’s The Big Idea with Donny Deutsch, has been featured on National Public Radio (NPR), in the New York Times and in Smart CEO Magazine. He is also a regular blogger for YoungMoney.com and YoungEntrepreneur.com, and has his own blog. Mike recently took some time to answer a few questions for us about The Toilet Paper Entrepreneur.

Q:    Where does the name “Toilet Paper Entrepreneur” come from?

A:    The name serves multiple purposes, but here is the primary.  At some point in time, everyone has been stuck in the bathroom with a mere three sheets dangling.  And it is in this situation that the entrepreneurial mind kicks in.  Perhaps you hook the garbage can with your foot and root through for scraps, or maybe your tear up the roll and get things done.  The point is, this is the definition of entrepreneurialism.  Just like the bathroom, it is rarely discussed, but your ability to survive and ultimately thrive as an entrepreneur is based upon your ability to use ingenuity and out of the box resources instead of a full roll (of cash).

The other meaning behind Toilet Paper Entrepreneur (TPE) is that we are all equal.  I don’t care if it’s Donald Trump, Mark Zuckerberg, me or you… we all use the bathroom, and we all have been there and done that.   For an entrepreneur to be successful they first and foremost know that their success is contingent upon their beliefs.  And if they believe that someone is more successful than they ever can be, they may give up before they try.  We all have an equal shot.  The guy who believes it more, gets the prize.

Q:    What makes a toilet paper entrepreneur different from a regular entrepreneur?

A:    The TPE is the regular entrepreneur, plus one thing. Awareness. They are aware of how to achieve success.  They are aware that they can be their own best ally or their own worst enemy.  They are aware that discipline and persistence yields success.  They are aware that vision complimented by relevant dogmatic action will yield riches.  They are in for the long haul, and are passionate about their journey.

Q:    How is “Toilet Paper Entrepreneur” different from other books on entrepreneurship?

A:    I wrote it to be real, edgy and actionable.  I am tired of all the books that are great on theory but short on action. I also can’t stand books that talk down to me.  I wanted something that was an ally or best friend to the entrepreneur.  Something like a manual you carry with you as your go into your daily “battles” of the work day.  I also wanted it to be real, in that it didn’t pull punches or be unnecessarily PC.  I wanted it to be totally in sync with the thoughts and words going on in our heads. And finally I made sure it was funny. If I wasn’t still laughing the 10th time I read it, I ditched it.

This book is like nothing else out there.  It kicks you in the ass, gives you real tangible stuff to act on immediately, and will ensure instant progress for any business.  And it will have you laughing hard at all the right times.

Q:    How did you get started in entrepreneurship?

A:    I drank way too much.  I was out with a buddy drinking and talking about the company we worked for. At beer number 8 or 9, I said screw this, I am going to start my own business and get rich!  So I started my own business the next morning… the rich part took about 10 more years.

Q:    Can you give an example from your own life of when you followed some of the points you describe in your book?

A:    I live by that book. It is truly me through and through. So I invite anyone to come to my office and ask me or my colleagues about our Immutable Laws or Prosperity Plan or Quarterly Plan or anything.

That was another key to writing this book.  I didn’t want to be like most of the authors out there who write about something they never have done or worse yet “pose” to be doing.  So if you read it, I have done it and am doing it.

Q:    What is one of the biggest mistakes/issues/problems you see with most entrepreneurs today?

A:    Get rich quick entrepreneurs.  They after all are not entrepreneurs.  Too many people are pursuing lots of money, so they can get happy.  The irony is you need to pursue lots of happiness, so that you can get money.

Q:    What is the biggest piece of advice that you could give entrepreneurs?

A:    Trust your gut.  So many people preach and give advice, it can be confusing and it surely is misleading.  Your success is contingent to listening first and foremost to yourself.  Your gut will rarely lead you wrong. So don’t listen to other people, including me… unless your gut says its right. Then go for it with all you’ve got.

Q:    Is this book geared solely to entrepreneurs looking to start new businesses, or does it also work for small business owners running existing businesses?

A:    I wrote it for new business and companies under $5M in revenue.  The funny thing is I have received thank yous from some BIG business owners saying that they have discovered new stuff they never knew before. So from that perspective, you can include any entrepreneur that is ready to try something out of the box.