In the world of business, creating success isn't just about profits and power. It's also about heart, vision, and community. The host of The Deep Wealth Podcast and post-exit entrepreneur Jeffrey Feldberg sat down with Chris Lautenslager, a seasoned entrepreneur and author, to talk about the true essence of entrepreneurship. Their conversation is a treasure trove of insights for anyone looking to make a real difference with their business.
Chris Lautenslager learned about business from his family's small business. "When you're part of a small business family, it's like having an extra family member," Chris said. He shared how his childhood experiences with his father's construction company taught him the value of hard work and community. However, challenging times, like the oil embargo in 1978, showed him the importance of resilience and support.
Chris comes from a small business family. He shares, "Anyone that's been in a small business family knows that business is like another family member. It's part of your existence." He reflects on working alongside his father in their family-run construction business. An oil embargo in 1978, however, made them face harsh realities, leading to the family's livelihood being upended. It was a pivotal moment that instilled in Chris a deep understanding of the challenges small businesses face.
Seeing businesses suffer during the pandemic reminded Chris of his family's struggles. This spurred him to action. "I don't hear anyone out there being an advocate for small businesses," Chris said. He believes that small businesses are the backbone of the community, and they deserve more support.
Chris wrote a book called "The Prosperity Loop." It offers six principles for creating a prosperous business culture. One of his main ideas is about reshaping capitalism to be more just and balanced. "We need to look at more than just margins and profitability," Chris explained. It's about how businesses can positively impact people and the community.
Jeffrey and Chris discussed the immense joy that comes from sharing success with your team. "One of the most emotional moments was giving team members checks with lots of zeros," Jeffrey recalled. It's about recognizing that everyone who contributes to the success of a business deserves to share in its rewards.
During the pandemic, memories of past struggles pushed Chris to action. He realized that, "I don't hear anyone out there being an advocate for small businesses." With renewed purpose, Chris emerged from retirement determined to support small businesses. He emphasizes, "They truly are the fabric of our communities, the backbone of our economy."
The Prosperity Loop
Chris is also an author. He penned a book called “The Prosperity Loop." This book shares his views on creating a wealth model for business leaders that includes social responsibility. His six principles provide a roadmap for a prosperous business culture:
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Common Vision
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Cooperation and Collaboration
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Value Creation
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Circular Communication
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Shared Rewards
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Assessments and Adjustments
These principles guide businesses in creating inclusive environments where everyone benefits.
Chris wants to reshape capitalism for the better. He highlights a key issue, "Capitalism's primary focus on increasing shareholder value can be detrimental." As he sees it, businesses must balance profitability with broader contributions to the community. "It's more than just making money," Chris states.
Creating a Positive Work Culture
Chris advocates for values-driven hiring and creating a positive work environment. "The character and values of the people you hire are more important than skills alone," he emphasized. A strong team culture leads to success and makes the workplace enjoyable for everyone.
The conversation also dives into building a strong business culture. Jeffrey shares his own experience: "After the exit, handing out checks to my team, seeing how it changed their lives was priceless." Chris agrees, noting that culture and values are more important than ever. Fortune favors businesses that prioritize integrity and teamwork over just skills.
Chris encourages entrepreneurs to have a clear purpose and to act on it. "What's your company's mission? Is it just for show, or do you really live it?" he asked. Companies should have real goals and take steps to achieve them, making sure to involve their employees in meaningful ways.
Facing Challenges and Finding Support
Entrepreneurs often face pressure and challenges alone. Chris speaks openly about the importance of seeking help when needed. "You're not alone," he says simply. Whether it's dealing with addiction or needing a network of support, reaching out can make all the difference.
The talk takes a more personal turn as Chris addresses issues like addiction that some entrepreneurs face. He advises, "It's almost impossible to do it alone." Seeking help is vital. For those dealing with potential issues before they become problems, Chris suggests being honest with oneself and taking proactive steps toward sobriety. "Not drinking is the greatest gift you can give to yourself," he assures.
Conclusion: The True Fabric of Our Communities
In wrapping up, Chris shares a heartfelt message: "You really are the fabric of our communities," he tells entrepreneurs. He stresses the importance of human connection and community support in business success. Entrepreneurs aren't just building businesses; they're nurturing society.
Even in an era of social media, genuine connections matter. Chris suggests reaching out to friends often. "It's those shared emotional experiences that build bonds," he notes. The aim is not just professional success but personal happiness and fulfillment too.
Both Jeffrey and Chris conclude with a heartfelt message to entrepreneurs: "Thank you for being out there and being in the world day by day. You are special."
Chris Lautenslager's insights remind us that business isn't just about profit. It's about people, purpose, and making a lasting impact. As Chris wisely puts it, "Sharing success is one of the most joyous experiences you'll carry to your grave." It's time to redefine success and nurture what truly matters.
Chris and Jeffrey's conversation is a powerful reminder that business success is about more than the bottom line. It's about building something meaningful, supporting others, and making a lasting, positive impact. Remember, as you navigate your own entrepreneurial path, you're not just achieving personal success—you're contributing to the world around you.
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