EP 035 | Money Lessons for Interior Design Business Owners with Bruce Sellery (Part 2)

November 22, 2017

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Why do smart entrepreneurs make poor financial decisions—and how can they change their financial future?

In this episode, Kimberley Seldon continues her conversation with financial expert Bruce Sellery about the mindset and behaviors that influence business success. Together, they explore how interior designers can make more intentional financial decisions, better understand risk, and create habits that support long-term profitability.

For interior designers looking to strengthen their financial confidence and make smarter business decisions, this episode offers practical insights that go beyond budgeting and bookkeeping.

In this episode, we learn:
• Why money is a tool—not the ultimate goal
• How identifying financial risk helps you make better business decisions
• Why measurable action is essential to achieving financial goals
• How financial awareness creates greater confidence and control
• Why understanding your relationship with money impacts business success
• How small, intentional changes can lead to long-term financial growth

 

Take Aways

Recommended reading: Nir Eyal is the author of Hooked: How to Build Habit-Forming Products.

Step 1: Lay the foundation. Consider the C factors:

  1. Context—what is my money for?
  2. Consequences—tangible and intangible consequences.
  3. Complexity—find a balance.
  4. Community—have a group of people (your Business of Design™ friends) who support you, offer ideas and provide accountability.

Step 2: Determine what you want. Think holistically about your life and formulate goals across a broad range of areas including experiences you want to have, where you want to contribute, your goals for family, career, home and health.

Step 3: Develop the plan. Identify the key actions you need to take to get what you want. 

  • Analyze
  • Brainstorm
  • Change

Step 4: Take action. Formulate declarations and reminders to help you overcome procrastination and get moving.

  • Patience
  • Creativity
  • Discipline
  • Courage

Step 5: Stay engaged. Set your life up so that your personal finances are easy and require little of your time and energy

 

DESIGN INTERVENTION – Homework

Take your credit card out of your wallet and go cash only for one week. Credit cards soften the pain of debt. Feel it and own it.

Personal Finance Expert
CBC, Cityline, MoneySense

Bruce Sellery is on a mission to help people get a handle on their money so they can live the life they want.

He is the author of two bestselling books, including Moolala: Why Smart People Do Dumb Things with Their Money (and What You Can Do About It) and Moolala: Guide to Rockin’ your RRSP.

He is the personal finance expert for the national lifestyle show Cityline and is a regular contributor on Breakfast Television, CBC TV’s On the Money, and CBC Radio. He writes advice columns for Chatelaine, Today’s Parent and Moneysense Magazine and was the host of Million Dollar Neighborhood on OWN: Oprah Winfrey Network. He spent ten years with CTV’s Business News Network, anchoring from both Toronto and New York City.

Prior to a career change to journalism, Bruce was a Brand Manager at Procter & Gamble. He is a graduate of the Smith School of Business at Queen’s University and current serves on its Board of Advisors. He is also a Vice President of the Canadian Club of Toronto.

He and his husband Dennis live in Toronto with their daughter Abby.

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Legal Disclosure | This podcast is for educational purposes only and provides general business advice for interior designers and design professionals. It is not intended as individual legal, accounting, or professional guidance. Kimberley Seldon and Business of Design® make no guarantees regarding accuracy and are not liable for how information is used. Strategies shared may not apply to every situation—listeners should seek qualified legal, financial, or professional advice before making business decisions. References and resources mentioned may change over time.

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