46. A Serial Entrepreneur’s Next Great Idea with Michael Van Erdewyk

If you like the origin stories of great business ideas--especially great ideas that involve financial technology--that promise to do good in the world, then this episode is for you. We talking to Michael Van Erdewyk, a serial entrepreneur who has started a number of new technology based businesses, about how he is creating opportunity for influencers and non-profits to communicate with their audiences through a new app and make money for their causes in the process. About the Guest My guest today is Michael VanErdwyk is an entrepreneur and seasoned executive with extensive experience building and directing high-performance teams in leadership, financing, talent and culture, management, operations, marketing and sales. With over 25 years in fin-tech, insurance, securities and lending industries, he has significant strategic business experience. He founded Bright Bucks in 2019 to help clients (non-profits, social media influencers and more) increase revenue by better engaging, communicating and giving back to their members and allowing them to earn additional income. Michael was previously founder/CEO of a company engaged in servicing and insuring over $4 billion in private student loans. He successfully founded and built three Workers' Compensation companies and was the founder/CEO of biotech companies with multiple patents. What You’ll Learn The most important characteristic of a successful entrepreneur The importance of relationships in everything from raising money to building teams. It comes down to relationships. How should an entrepreneur respond when results fall short of expectations What Bright Bucks is and why is it a valuable idea How influencers and nonprofits can benefit from Bright Bucks Links for This Episode: Brightbucks.com LinkedIn Connect with Dr. Mike: Website: https://www.drmikepatterson.com Book: https://www.missionfirstpeoplealwaysbook.com LinkedIn: https://www.linkedin.com/in/drmichaellpatterson Instagram: https://www.instagram.com/therealdrmikepatterson/ Twitter: https://twitter.com/drmikepatterson Buy The Book!: Mission First People Always Episode Minute By Minute: 0:00 Entrepreneurs are a special category of people 3:00 An introduction to Michael Van Erdewyk 6:12 What makes an entrepreneur good at their work? 7:59 Pushing through in business is about optimism 9:50 The importance of relationships 10:56 The mindset behind selecting team members 12:46 How do you know when to throw in the towel on a business venture? 13:49 The most challenging aspects of the entrepreneurial adventure 16:28 Creating the Bright Bucks mobile app 23:02 Bright Bucks, a B2B2C app and white label vs private label 25:56 Some of the businesses Bright Bucks is partnered with 31:46 One piece of advice you can take and apply today