The FI Guys

050FF: 10 Reasons Why Your Small Business Will Fail | Will I Have to Work Until I Die?


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In this episode of Fi Friday Feedback, Dominic and Chris discuss the Ten Commandments of Business Failure by Don Keough. They highlight the importance of not isolating oneself and the need for diverse perspectives. They also discuss the dangers of putting too much faith in experts and the value of critical thinking. They touch on the fear of the future and the balance between scarcity and abundance mindsets. The episode concludes with a viewer mailbag segment. In this, the viewer shares his struggles with self-assessment and financial knowledge, particularly in relation to retirement plans and career advancement. He discusses his experience of moving multiple times, depleting his savings, and the financial strain of living in the expensive Pacific Northwest. Chris offers advice on self-assessment, financial management, and career advancement. He emphasizes the importance of comparing oneself to personal growth rather than others, tracking expenses, creating a spending plan, and investing in retirement accounts. The conversation concludes with their wins of the week.

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⏰ Timecodes ⏰
00:00 Introduction and Setting the Stage

01:50 Recapping the Ten Commandments of Business Failure

06:02 The Importance of Diverse Perspectives

10:31 Beware of Blindly Trusting Experts

16:48 The Power of Critical Thinking

22:26 Overcoming the Fear of the Future

25:26 Finding Balance Between Scarcity and Abundance Mindsets

25:53 Viewer-Mailbag

36:25 Win of the Week


#moneymindset #businesstips #failure

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Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/

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The FI GuysBy The FI Guys