40. Mike Russell | Monument (online alcohol treatment) Artwork

The Founder

The Founder is a show that features world-class entrepreneurs and their early stories of ingenuity, struggle and perseverance to get their companies off the ground. Kallaway goes in-depth with founders in straight talk, uncensored conversations to understand their thoughts, feelings and actions behind the big decisions that influenced the direction of their startup. At the end of each episode, founders share their 1-2 favorite ideas for other businesses they wish existed and we riff on how they'd bring them to market.Think My First Million meets Joe Rogan meets How I Built This.

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The Founder

40. Mike Russell | Monument (online alcohol treatment)

January 26, 2021 • Kallaway / Mike Russell

Mike Russell is the Co-Founder & CEO of Monument.
Mike is a serial entrepreneur, having previously launched several businesses including VenueTap (positioned as a digital platform for club promoters) and Paintzen (a marketplace for buying paint and choosing paint contractors that was acquired by PPG in 2018).
Monument is an online alcohol treatment program designed for users with low to moderate consumption habits. Mike and his team launched Monument to help democratize access to personalized and affordable treatment for those looking to change their relationship with alcohol. Monument's flexible subscription model enables patients of all consumption levels to access a licensed physician, specialized therapist, community and/or prescribed medication.
Tune in to hear Mike’s story!
EPISODE TOPICS:

Sections
- (2:16) – The Origin Story
- (14:13) – The Build
- (43:34) – The Founder
- (1:02:58) – The Brainstorm
Topics
- (2:16) Mike’s background
- (6:07) What happened with VenueTap
- (7:21) Monument founding story
- (11:26) Approach to the monument platform
- (14:13) Building the business model
- (17:59) How to size the market opportunity
- (22:14) What concerns/questions did you have in the beginning
- (24:20) Critical decisions in the early days
- (29:18) Hiring
- (35:10) Fundraising
- (39:37) Mike’s Startup Manifesto
- (43:34) Mike’s unique approach to a venture fund
- (48:02) Battling cancer and shifting mentality
- (54:27) Words of advice to an 18 year old
- (57:06) Biggest needle mover tip/tactic
- (59:02) Mike’s wellness stack
- (1:02:58) The Brainstorm – Custom building 1990s Land Rover defenders and trading cards

Watch this episode on YouTube – https://youtu.be/_v1PouhYkQ4

Monument – joinmonument.com

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Mike's content and learning recommendations

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Don't have time to listen to the full episode? Read the 5-minute version here