TMBA 440: 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:

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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.

Whether you are in the early stages of building a business or thinking of selling, this book is designed to help you build with the future in mind.

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

Published on 05.10.18

Next post: TMBA441: The Entrepreneurial Script