Business
We hope you enjoyed the sixth episode of the Back To Business podcast! This week we talked about sacrifice, what is necessary to sacrifice, what the impacts of those sacrifices can be in the long-term and how you deal with that. The points we covered were: Anything worth having takes sacrifice: this can be applied to anything but especially in business. We linked back to Episode 4 on Fear and how people can be worried to make the sacrifices but perhaps don’t weigh up the impact of not making the sacrifice. We talk about the Valuetainment podcast, where Patrick Bet-David discussed giving up cheesecake. He explained that giving it up was easier 6 months down the line than it was 2 months down the line. Sacrifice is a habit, that can be trained like a muscle. If you want to see results at the gym, you have to work out and sacrifice your time to do this. You may not feel good about it before, or during, but you always feel good after. We discussed compounding interest and the effect that sacrificing a higher salary for yourself can have over time if that money is reinvested in the business. We’ve linked the compounding interest calculator below! Tony Robbins’ book Money Masters The Game, talks about a worker on a very low salary who managed to diligently save up successfully for retirement. We talked about how even the word ‘Sacrifice’ sounds biblical. It is more of an exchange of one thing, in return for something else. Turning the sacrifice around. For example, instead of feeling like you’re missing out because you’re sacrificing going to the pub in order to work, see it is you’re sacrificing your potential for financial independence to go to the pub. Remember your goals and remember what’s important to you. The very useful resources we talked about today were: Valuetainment by Patrick Bet-David (YouTube): https://www.youtube.com/channel/UCIHdDJ0tjn_3j-FS7s_X1kQ Money Masters The Game by Tony Robbins: https://tinyurl.com/t3p5ph6 Compounding Interest Calculator: https://monevator.com/compound-interest-calculator/ 12 Rules For Life by Jordan Peterson: https://tinyurl.com/rjqd3sq Back To Business is a podcast documenting our own navigation through the business world, and where we have come from as a team. We’d like to bring you along for the ride, so don’t forget to hit the subscribe button to stay up to date with the latest episodes, available every week.