Ben Haugh, the owner of three separate small businesses in Austin, Texas—All Nation Restoration, Livin’ On Mechanical, and Rep Lock Marketing—didn’t start as a financial expert. His path to financial literacy was anything but smooth. Raised in a religious cult in Waco, Texas, which could be compared to The Truman Show—a world of perfection with no financial responsibility—he was taught nothing about finances except to lean on others for happiness and give to the cult leaders for their personal profit. It was a philosophy he later realized wasn’t for him and could not ethically agree with.
Like many entrepreneurs, he learned the hard way—through mistakes, missteps, and a fair share of trial and error. But those tough
lessons laid the foundation for his success. Ben’s turning point came when he decided to ask questions—lots of them. He sought out smart, wealthy, humble, and successful people, absorbing their knowledge and strategies. One pivotal relationship was with his banker, Beau Lacey at Chase Bank (Chase For Business), who became more than just a lender. Beau guided Ben through the ins and outs of small business financing, teaching him how to secure funding, manage cash flow, and build credit. His relationship with Chase Bank was invaluable and certainly assisted in his success.
But Ben didn’t stop there. He hired a CPA to ensure his books were in order and to strategize around taxes. He consulted attorneys to navigate legal complexities, protecting his business from unforeseen liabilities. Each expert added a new layer to his financial literacy, helping him make better decisions and grow his company sustainably.
Learning Through Trial and Error
Mistakes are often the best teachers. Ben made plenty—misjudging cash flow, underestimating expenses, and making poorly timed investments. But each misstep sharpened his financial instincts. Instead of letting failures discourage him, he treated them as lessons, adjusting his strategies and tightening his financial practices.
For many small business owners, the fear of making mistakes can lead to inaction. But in the world of entrepreneurship, perfection isn’t the goal—progress is. Every miscalculation or oversight is a stepping stone toward becoming a more financially savvy business owner.
“At one point, Ben lost over 15 brand-new work vans in a flash flood down the creek. It was a horrifying moment, but Ben, instead of freaking out, regrouped and turned the loss into future success—all attributed to long-term financial strategy.”
https://www.kxan.com/news/local/flash-flood-washes-trucks-into-walnut-creek
One of the most transformative shifts Ben made was taking his personal finances out of the business equation. This separation created clarity and allowed the business to operate independently. It also streamlined budgeting, made tax filing cleaner, and provided a more accurate understanding of the company’s financial health.
“A lot of blue-collar business owners treat their company like a backyard barbecue—everyone dips in when they’re hungry. But here’s the deal: if you’re using your business account like it’s your personal ATM, you’re setting yourself up for a financial faceplant.” – Benjamin Haugh
For blue-collar business owners, this can be a game-changer. It means paying yourself a salary, creating a business budget, and using business accounts exclusively for business expenses. It’s about treating the business like the separate entity it is—because it’s not just your job; it’s an asset that can grow, scale, and eventually, even operate without your constant involvement.
Financial literacy doesn’t mean going it alone. Ben’s success was rooted in building a strong financial support system—his banker, CPA, and legal advisors became his team. They offered expertise in areas he didn’t fully understand, helping him navigate challenges and capitalize on opportunities.
Small business owners should seek out these relationships early on. A good banker can guide you through financing options, a skilled CPA can optimize your tax strategy, and an attorney can help you avoid legal pitfalls. Surrounding yourself with experts not only reduces risk but also accelerates growth.
Running a small business isn’t all sunshine and rainbows; it’s more like tsunamis and mudslides. According to the U.S. Bureau of Labor Statistics, about 20% of small businesses fail within their first year. By the end of the fifth year, approximately 50% have closed their doors, and after a decade, only about 34.7% are still operating.
These statistics highlight the importance of financial literacy and proper management. Without a solid understanding of finances, a business is about as sturdy as a two-legged stool.
Financial literacy is not a luxury for blue-collar small business owners—it’s a necessity. It’s the difference between scraping by and building a thriving, resilient business. The journey isn’t always easy, and mistakes are inevitable, but the rewards are worth it.
Ben Haugh’s story is proof that anyone can become financially literate with curiosity, persistence, humility, and the ability to ask those who know more than you. By treating your business as a business—not just your personal income—you lay the foundation for long-term success. And in the competitive world of blue-collar industries, that’s the edge that can make all the difference.
Stay Driven, Stay Focused and Stay in Business
