EP 035 | Bruce Sellery On Why Smart Entrepreneurs Do Dumb Things With Money – Part 2
November 22, 2017
About this Episode
Why do smart entrepreneurs do dumb things with money? And more importantly, what can we do right now to make a positive and lasting change in our financial health and maturity? Part two with money and finance expert, Bruce Sellery.
In this episode we learn:
– how a tool (money) differs from your true desire
– how to identify where your financial risk is
– why action must be measured
Recommended reading: Nir Eyal is the author of Hooked: How to Build Habit-Forming Products.
Step 1: Lay the foundation. Consider the C factors:
- Context—what is my money for?
- Consequences—tangible and intangible consequences.
- Complexity—find a balance.
- 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.
Step 4: Take action. Formulate declarations and reminders to help you overcome procrastination and get moving.
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.
Legal Disclosure | This podcast is for educational purposes only and should not be used for any legal decisions. Kimberley Seldon Design Group, Kimberley Seldon Productions Inc., Kimberley Seldon Design and Media, Inc., Business of Design™, or any of its affiliated companies or staff is not responsible for any errors or omissions effecting accuracy in any content, and they will not be held liable for the use or misuse of information, facts, details or any other aspects should there arise any defects, errors, omissions or perhaps inaccuracies. Extensive research has been conducted to put this podcast together for the purpose of educating our industry in order to better serve the public. Care has been taken to acknowledge ownership of copyrighted material. The advice and strategies contained herein may not be suitable for every situation. This work is offered with the understanding that we do not render any legal, accounting or other professional advice. Seek the advice of a lawyer and/or other competent professional person in all matters of law. Further, listeners should be aware that internet websites mentioned may change or disappear between when this was recorded and when it was listened to.