In this episode Corbett says, flat out, “the way you think and feel about money is affecting how your business is performing.”
Listen along as we each reveal our own thoughts about money. Be gentle, I’m actually embarrassed by my own answers… don’t know why.
And that embarrassment gets to the heart of the issue… are you aware of how you feel and think about money? I wasn’t.
Hopefully this episode helps you see your own feelings clearer — you’ll at least see ours!
In all seriousness, there’s some good bits in here about how money is a tool, how bootstrappers should be navigating these waters, what resources to tackle next, etc.
Because, as Corbett says in the show: dealing with money is a skill, and just like any other skill you can work at it and get good at it… and getting good with money will seriously effect the performance of your business.
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“HAMMERS are to construction what MONEY is to indie entrepreneurs. Learn how you feel about money”
Caleb’s Money Mindset Qualifiers
Caleb has this great little bit in the show (about 23m in) where he mentions a handful of things you could look at to get a read on how you feel about money. Here’s a list of questions he asks to help you think through your money mindset.
- Do you have debt? If so, do you have plans to get out of debt?
- How do you feel about tipping? Do you hesitate before leaving a tip?
- Do you find it difficult to charge what you’re worth in your business?
- How much time do you spend looking for the lowest prices on things you buy?
- How often do you give discounts on your services?
- How do you feel about negotiating?
Some Money Seth Godin Quotes
“If money is an emotional issue for you, you’ve just put your finger on a big part of the problem. No one who is good at building houses has an emotional problem with hammers. Place your emotional problems where they belong, and focus on seeing money as a tool.”
“The way you feel about giving money to good causes has a lot to do with the way you feel about money.”
“In our culture, making more money feels like winning, and winning feels like the point.”
Gumroad Quick Start — Stop scheming. Start shipping — We partnered up with Gumroad to make a quick start guide video, interview series and ebook. Why? Because we want you to stop scheming and start shipping… and this is the best way we’ve found to do that.
JAN 2014 was about building your first product — Listen to each episode and hear how 13 successful founders made their first products (and what they learned).
Money Matters. And It Doesn’t. — What do you think? Does it matter? Great article from Josh Shipp we featured earlier this week.
Unless I Hear Differently — Work Good & Fast With Clients & Teams — A simple email tip we put together with the folks from Simplifilm.
Seth’s Blog: Thinking about money — A few things to keep in mind about money… most of it is life-changing.
Book Thoughts: The Millionaire Next Door — Caleb Wojcik — “… the majority of millionaires don’t live the lifestyles that most people think they do”
Broke – ESPN Films: 30 for 30 — “More money, more problems. Broke digs into the psychology of men whose competitive nature carried them to victory on the field yet seemed to ruin them off the field.”
Peldi at Business of Software 2010: Do Worry, Be Happy! Keeping sane as a software CEO. Video & transcript | Business of Software — “Peldi, Founder and CEO of Balsamiq talks about all of the things that he worries about, some of the things he doesn’t and the secret to sleeping well at night.”
MicroConf – The Conference for Self-funded Startups and Single Founders — Be sure to check out some of the videos… excellent stuff.
Managing Small Business Finances with Caleb Wojcik (Ep. 18) — A couple Fizzlers makin’ whoopie on the mic! Great episode of the Listen, Money Matters Show interviewing Caleb about some small biz money stuff.
The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil' guide. Get the 10 Most Common Mistakes in Starting an Online Business here »