Episode Overview
In this episode, I welcome Mike Jones, founder of Better Happy and author of The Happy Business Revolution, to explore how entrepreneurs can escape the "owner trap" and build more happiness into their businesses. Drawing on Mike's unique background in the military and his transformative experiences living in monasteries, we uncover valuable insights about the true meaning of happiness and how to create a business that serves both clients and the business owner alike.
Key Highlights
Mike's Journey from Military to Monastery to Business
- Joined the military in his early twenties seeking an escape from his hometown
- After two tours in Afghanistan, realised military life wasn't fulfilling him
- Spent time living with monks in Thailand and Nepal, gaining life-changing insights
- Discovered that Eastern philosophy views happiness as underlying fulfilment rather than constant ecstasy
- These experiences led him to start his own businesses with a completely different perspective
The Buddhist Approach to Emotions
- Learning to see emotions as "passing clouds" rather than part of one's identity
- Understanding we are not our emotions, but the experiencer of emotions
- This separation from emotions is particularly valuable for business owners on an emotional rollercoaster
- The practice of not attaching to emotions, whether positive or negative
The Owner Trap: Lessons from Mike's First Business
- Started a gym with the desire to help others, focusing entirely on client happiness
- Created a business that made clients happy but left him burnt out and unfulfilled
- "I went into business thinking, 'I'm just going to provide a good service and really look after our clients and the business will just be fantastic'"
- By COVID, despite having a great team and happy clients, he was miserable
The Core Four Model of Business Relationships
- The business itself - expects cashflow and profitability
- Customers - expect positive products/services and give money/referrals
- Team - delivers service and expects wages, belonging, growth opportunities
- Business owner - provides leadership, finance, growth and expects returns