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173 - $1M ≠ Freedom; It’s a Mirage with Jacob Turner
Manage episode 483693911 series 3591759
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Join me, Nik ( https://x.com/CoFoundersNik ), as I interview Jacob Turner ( https://x.com/TheJacobTurner ), a former professional baseball player who transitioned from the mound to managing wealth.
Jacob shares his incredible journey, from being a top draft pick to facing the humbling reality of getting sent down and ultimately pivoting to entrepreneurship with Moment Private Wealth.
We dive into the powerful analogies between sports and business, discussing the vital role of humility, handling setbacks (getting "fired"), and the unexpected importance of craving feedback for growth.
We also explore key financial considerations for entrepreneurs, including managing money, understanding risk, and navigating cashflow when your business starts generating excess capital.
Questions This Episode Answers:
What's the analogy between professional sports and entrepreneurship?
How can getting 'fired' (or setbacks) be a valuable experience for an entrepreneur?
Why is it important for entrepreneurs to accept and seek feedback?
As an entrepreneur, how should you think about managing excess cashflow?
When should an entrepreneur consider getting professional financial or wealth management help?
Enjoy the conversation!
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This week we covered:
00:00 The Journey of a Young Athlete
02:49 Transitioning from Sports to Business
06:11 The Reality of Professional Sports
09:05 Mindset: The Key to Resilience
12:00 The Importance of Self-Awareness
14:50 Navigating Financial Success
17:47 Risk Management in Entrepreneurship
24:25 Taking a Break After Success
25:54 Exploring New Opportunities
26:54 Investing in Healthcare and AI
27:53 Allocating Wealth Wisely
29:19 Starting with the End in Mind
30:47 Understanding Wealth Management
32:11 The Reality of Wealth
34:38 The Psychological Aspect of Wealth Management
39:28 Advice for Entrepreneurs
40:54 The Importance of Cash Reserves
43:41 When to Seek Professional Help
179 episodes
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