Episode #144 Start A Business

Every human being has immeasurable value, so we each have the power to create something that brings value to others as well. This week, Ben Vollmar, founder of Flatlands Coffee, joins Dr. Michael Brown, founder of DMB Coaching, in a conversation about finances, flexibility, and having faith in ourselves and others.

Show Notes

You can ask any of my children who are 7, 5, and 3, "What is the best area to spend your money?" and they will all tell you, "On your own business."
Ben Vollmar

Three Problems

  • Every new business carries significant start-up costs and tremendous personal risk.
  • Starting a business often requires us to learn skills we find difficult and perform tasks we don’t enjoy.
  • Too many business owners feel drained by their work because they are unwilling to release control by trusting their employees to do the job well.

Seven Principles

  • While buying a house or car often takes money out of our wallets, starting a business has the potential to put money into our wallets.
  • Every business exists to solve a problem, to make others’ lives better, or both.
  • Our unique skills, passions, and knowledge serve an important purpose.
  • Every dollar we spend is a vote for something.
  • Running a successful business is as simple as spending less than we make.
  • The most important prerequisites to starting a business are to define core values and to decide how we will shape the culture.
  • Since time is more valuable than money, the purpose of money should be to create greater margin to invest deeply and often in relationships with others.

Three Practices

  • Treat your employees as well as you would treat volunteers, as they always have the choice to seek a job with a kinder boss and healthier work environment.
  • If you employ others, cultivate the type of environment where you would want to be employed.
  • Consider how to use your unique talents and abilities for the greater good while also making them marketable and profitable.