Good morning everyone! As we continue the month of the Immaculate Heart, don’t forget to do something special to honor Our Lady. Perhaps a novena, a visit to a shrine, or some extra rosaries.
Welcome back to The Saintly CEO. Every Monday, while you sip your coffee, get some tactical advice to run your business fully in union with your Catholic faith.
In Today’s Email:
News / Updates
Feature Content: How to De-Risk Your First Business (So You Actually Get Started)
CF Role Model: St. Paul, the Tent Maker & Traveling Salesman
+5 more Catholic entrepreneurs (Heavenly Hustlers)
Miscellaneous Resources
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News / Updates
We have moved our paid community over to Vinly now. A place that should serve us much better as we grow.
Very soon, we’ll be hosting a special guest speaker event for paid members only. So if you’d like to join, sign up today.
I’m helping run a book club for Catholics that is focused on business people — we are reading The Pope & the CEO. If you’d like to get involved, join the We Are Catholic Vinly Community.
I also have a special gift for paid members that I’ll be announcing probably next week. Stay tuned for that 👀
[sponsored content]
We are excited to announce a sponsorship partnership with Verso Jobs.
These guys are incredible at helping Catholic Founders hire people who are actually aligned with your mission.
They have built this incredible gamified and data-driven job platform to help you hire people who actually share your mission and values.
The best part, it's built by Catholics.
Whether you're hiring for your startup, school, parish, or nonprofit — Verso makes it easy to find mission-aligned talent ready to build the Kingdom.
Become a Sponsor! Get your message in front of hundreds of Catholic business owners! Reach out today —> DearCFPod@gmail.com
Feature Content: How to De-Risk Your First Business (So You Actually Get Started)
Warning: this is a bit longer than 1,000 words. Sorry, had a lot to say.
Starting your first business is the hardest. There’s a lot you don’t know (thankfully).
Thankfully, we have a lot of hubris/ignorance/self-belief.
But many of you are still on the fence about starting your business.
“The timing isn’t right.” “I don’t have enough money saved up yet.” “I’m about to get married.” “I’ve got a baby on the way.” blah blah blah.
Those are all excuses. Especially for Catholics — Here’s why.
As a Catholic, you have a few things.
Knowledge that God is walking with you and will always take care of you.
Truth of what matters most in life (getting to heaven).
The grace to improve yourself (virtue).
The first gives you confidence to pursue the business if you discern that you’re called to.
The second keeps you grounded in reality and focused on the right things (ie, not money, fame, success).
The third gives you the biggest superpower, especially when you develop the virtue of prudence.
Prudence helps you remove the key risks of starting your business. If anything, the success rate of starting a new business should be highest among Catholics because of this.
So how do we de-risk our businesses?
The Best Entrepreneurs Remove Risk
A lot of people say entrepreneurs are risk takers. To an extent, it’s true. But it’s not the whole story.
The best entrepreneurs find ways to de-risk their business; they take calculated risks.
Anyone can do this, but entrepreneurs often have a different perspective on the risks. They don’t see it as one amorphous swamp monster of risk.
They break it down into individual risk factors and eliminate as many as they can.
The Core Risk Factors And How to Mitigate Them?
Product Demand
The first (and most important) is Product Demand. Meaning, do people want to buy your product?
On one end of the spectrum is a new invention. No one has heard of the product and may not understand why they need it. It could solve a need, but because it’s new, it’s inherently more risky.
On the other end is something like a funeral home. The demand is known (everyone will die).
De-risking this is the most important thing you can do. To do so, read the book The Mom Test. You’ll learn how to find product market fit (does your product fit the market—does the market want your product).
The best part, you’ll save a lot of money.
Finance
You need the money to pay for startup costs. Most people overestimate how much they have.
De-risk this by listing out the costs you’ll have for the business (rent, software, wages, sub-contractors, etc). Don’t forget to include your own pay to provide for your personal/family expenses.
Add 10% to your monthly number for a buffer. That is your monthly burn rate. Now take your savings and divide it by that number.
If you have 12 months of runway (time before you run out of money), give yourself a deadline. Something like 9 months before you throw in the towel. If you hit month 9 and things are not working (I don’t mean looking like they are working, I mean actually working), then pull the plug with 3 months left to find another job.
The biggest mistake people make is not making a plan. They assume everything is going to work out.
When you list it out like this, you’ll realize how much (little) time you have (and the urgency you need to approach it with).
Business Model
From day one, have a sensible and straightforward business model. It’s critical.
Similar to the financial side of things, add up your costs, then figure out how many sales you’ll need to make every month to profit.
Remember, profit doesn’t mean more than your expenses. Profit is sales minus expenses, your salary/pay, minus taxes. Only after that do your dollars count towards profit.
I’ve seen too many people have no concept of how many monthly sales they need to get to their monthly income needs.
Remember KISS: Keep It Simple Stupid. For example, my biz costs about $1,200 a month to run (mostly software expenses). I aim to take home ~$6,000 a month for my family’s needs. And I have to allocate for taxes.
For my business to profit, I need to close about $12,000 a month. Our average deal size is $18,500. That means only one deal a month keeps us going.
Proven Skills
Some people have unlimited business ideas. I am one of them. I spent almost 3 years dreaming about cool businesses I could leave my recruitment job to start.
In the end, I realized it’s better to do something I already knew how to do: recruitment. So, I left in April 2024 to start… you guessed it, a recruitment firm.
I had family obligations, so I wasn’t going to take a risk on something I had not done. I decided to do a ‘boring’ business that I had proof I could succeed in.
When you’re starting your first business, do something that you have a proven skill in. It also makes your sales process easier.
Going from being a plumber to an expert glass blower with no experience might be a bit of a leap.
Sales
Knowing how to sell well can help you succeed in almost any business. If you have absolutely zero sales experience, that could be a big risk.
Not saying it’s not possible, but if you can, learn the skill of sales before starting your own business. A business has many components, and sales is one that all businesses need. Being good at sales can make up for a lot of imperfections.
If you don’t know how to sell, it’s not that you can’t succeed; just know that you’re going to have to learn. Never expect to build a business that doesn’t require sales.
Note: Having a strong network can make up for a lack of true sales experience as well.
Discern & Trust In God
As Catholics, we acknowledge that God is present in every aspect of our lives—even our business endeavors.
Spend time in prayer if you feel called to start a business. Ask God for specific signs. Ask for guidance. You’re unlikely to get a big Broadway sign flashing in your face, but you’ll start to feel it’s right in your gut.
Discern why you feel called to this business. Is it because you’re drawn to it naturally, and it complements your skills? Or are you doing it for fame and riches?
If your intentions are pure and you feel good about leaning into it, go with confidence.
But before you begin, dedicate the business to God. Dedicate the outcome entirely to God. Leave it all in His hands. Accept that it may not work out. But either way you want to step forward with trust in Him.
See this journey as a way for you to come closer to Him.
I cannot emphasize this enough. God is your partner in this. Do not leave Him out of the partnership.
If you succeed, it will be because of the life, interest, skills, and circumstances that He gives you. It will not be because of your greatness.
Take Action
Apply these de-risking tips to your current business plan. Is it viable? Does it have holes? Whatever is missing or needs work, make a plan to get it sorted out so you can get started soon. Procrastination isn’t getting you anywhere.
God Bless & Happy Building
~Silas Mähner
[sponsored content]
Advertise to Catholics Only, on Fio
We’re proud to welcome Fio as a sponsor of Catholic Founders.
Think of Fio as Spotify, but only Catholic content creators allowed. That includes music, podcasts and more.
The best part, for a limited time, they are offering readers of Catholic Founders Free Advertising Space.
So if you’re looking to reach a Catholic audience, learn more at fio.fm/ads
PS: They actually pay the first ever streaming royalty for podcasts—something unheard of with all major podcast platforms. So, if you listen to the Catholic Founders podcast, check us out on Fio to indirectly support this project financially. You can follow us on Fio by clicking here.
Overseas Talent
Hire Catholic overseas assistants from Latin America or the Phillipines. Save money and offer a Catholic dignified employement. Just tell us what you want and we’ll find someone who fits the bill. If you like them you pay $500 upon hire. And $500 if it’s still going well 30 days in. Reach out to dearcfpod@gmail.com today.
Become a Sponsor! Get your message in front of hundreds of Catholic business owners! Reach out today —> DearCFPod@gmail.com
Heavenly Hustlers
Looking to meet other ambitious Catholic business owners? You’re in the right place.
Meet today’s Heavenly Hustlers.
⛺ St. Paul. Yep, the greatest convert. Paul was an entrepreneur and lived a life similar to ours in many ways.
First of all, he was a tent maker. Meaning he helped to set up and make a tent while on the road. Usually, in return for lodging and food (unlikely that money was often part of the deal). This is a useful skill. A skill that allowed him to earn his way where he went, while also converting people along the way and having the time to walk with them (literally and spiritually). So, in essence, he was an entrepreneur. Using his skills to ‘pay’ his way.
With his flock, he was constantly teaching them about Jesus (advertising). He would baptize them (sell) and welcome them into The Church (onboarding). Often, he had to re-explain the product to them when they were missing the point (retention). And if they left, he would go out to them again to revert them back (solve churn).
Sound familiar to what we do? Constantly sharing our message, what our product does, selling, etc. We can look to St. Paul for inspiration on these fronts. The monotonous process of landing customers and keeping them.
Notice, most of this was done on a one-on-one basis. The most unscalable practice is also the most effective for developing that true relationship. If your heart is transformed by Jesus, others will form a relationship with Jesus through you. Eventually, you won’t have to be the stand-in, and they will spend a lot of time with Jesus in their own hearts.
🤖 Lucas Wall is building Allma.ai — a marketplace for AI Agents/services that will help businesses partake in the AI revolution. They also offer biz owners access to all the major LLM models on a usage basis instead of having to pay the full monthly subscription. Check it out if you’d like to save money on your AI Subscriptions
🤵♂️ Renz Joseph Pros is the co-owner of The Celtic Ranch. A retail store in Weston, Kansas, with a specific vibe of clothing and merchandise for sale.
💻 Armen Adamyan is the founder of Esterox. A custom software solutions developer. He’s also the co-founder of Websage.AI — an AI assistant.
🔨 Mike Parrott is involved in a lot of things. Investor in Novo Media Group. Owner of a local painting service, 360 Painting of St. Joseph. As well as House Doctors of St. Joseph (handyman repair and restoration services for homes). A man of many opportunities in the Kansas City area.
Upcoming DOMINUS Lab Events (they will be hosting a competition for the top 100 AI Startups that concludes in December, so stay tuned).
Sometime late this week or early next week, we’ll be hosting a Catholic Founders Guild event, hearing from an expert to educate our members. Keep an eye out.
Content:
If you’ve not seen it, I would highly recommend checking out the episode with Travis Callaway — There are a lot of ideas for you in there on how to run your business in accordance with Rerum Novarum.
The Catholic Gentlemen Podcast had a great episode on how to be a better leader in your marriage that I really enjoyed.Listen here.
Alex Hormozi had a great episode on branding/marketing that reminded me how much we need to talk about our products & services because no one knows we exist. Check it out.
Services:
HIRING: Looking to hire top talent that is also bought into your mission and values? Give the guys at Verso Jobs a shout. Joe and his team are incredible at filling jobs accurately and fast. And they won’t break the bank.
FREE ADVERTISING: Advertise for free on Fio — fio.fm/ads — tell them Silas sent you. Fio is basically Spotify but they only put Catholic creators and artists (music and podcasts) on it.
OFFSHORE TALENT: Hire a Catholic Virtual Assistant through ParacleteVA (email us: dearcfpod@gmail.com)
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I really wish I had this article when I started four years ago. Great practical advice!