TMBA440: What’s Your Lifestyle Ladder?

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Dan and Ian know that today’s episode is about a rather sensitive subject.

Not too many people in American society feel comfortable talking about their personal finances. It’s somehow taboo to share how much money you are making, or to speak freely about your financial position.

Maybe this is part of the reason that so many entrepreneurs don’t open up about selling their businesses. They think that nobody wants to hear them complain about how much money they made.

In this week’s podcast, we aren’t holding back. Dan and Ian share how they feel about money, how much money they want, and what actual financial freedom looks like to them.

Transcript

Listen to this week’s show and learn:

  • The ways in which your personal finances can influence your business decisions. (6:35)
  • How to construct your “Lifestyle Ladder”. (8:50)
  • How having access to debt affects our behavior. (12:57)
  • What happens when you start to build a basic amount of savings. (18:56)
  • How to determine what your “Freedom Line” is. (25:53)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Ruby Receptionists. There’s not a business that doesn’t benefit from friendly, live customer support on the phone. Ruby Receptionists guarantee that all of your calls will be answered by a friendly team of remote receptionists. From their offices in Portland, Oregon, Ruby delivers exceptional experiences to your callers. They are just like an in-house receptionist at a fraction of the cost. Most importantly, they sound like they are sitting in your office. To learn more, visit them online at CallRuby.com or better yet, check out their services yourself by calling 855-389-LIVE. Big thanks to Ruby Receptionists for sponsoring the podcast.

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In the entrepreneurial world, it’s rarely questioned that “exiting” is the end goal of a smartly built business and a prestigious waypoint in a successful career.

In 2015, Dan Andrews and Ian Schoen sold their business for multi-seven figures, and although they don’t regret selling – there are many mistakes they made that were avoidable.

The book presents thought experiments designed to help you avoid similar mistakes.

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian

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