What I’m Listening to: August 2021

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One of our core values here at Quantum is having a growth mindset. As a result, we love learning as much as we can from thought leaders of various industries and can’t tell you how much of positive impact podcasts have had on our business. We hope that sharing these resources will fuel your own growth mindset and help take you to the next level in your real estate business. Here are the top podcasts our financial advisor listened to in August 2021. Here he outlines podcasts on investing, entrepreneurship, and local leadership.

Entrepreneurship

Noah Kagan Presents: How to Control Your Attention & Choose Your Life

Start at 30 Minutes and sorry in advance for the language!

My big 3 takeaways:

  1. Traction is the opposite of distraction
    Traction is any action that pulls you towards your goals and your values. Anything else is a distraction. Don’t let the urgent and easy work distract you from doing the hard important work that needs to be done to move your life and career forward.
  2. Read books!
    A good book he explains can contain 10 years of someone’s expertise and allows you to absorb their “brain dump” in a relatively quick amount of time.
  3. 10 Minute Rule
    Don’t tell yourself “No”, tell yourself “Not yet”

Spokane Leadership

Spokane Catalyst: Spokane Dutch Bros CEO – Kevin Parker

My big 3 takeaways:

  1. Jim Collins – Good to Great (this is one of my favorite business books!) – The Three Circles
    a. What can you be the best in the world at?
    b. What are you deeply passionate about?
    c. What drives your economic engine?
  2. “If we want our customers treated like princes and princesses, we need to treat our employees like kings and queens.”
  3. On a scale of 1 -10 the importance of retained cash earnings is a 12 for small business owners. It is what allows you to get through the next recession. 

Investing

BiggerPockets Daily Podcast: Is that investing advice good or bad? Follow this litmus test to know

My big 3 takeaways:

  1. Is this advice generic?
    What we sometimes call “rules of thumb” are a good place to start when applying financial advice to your life, don’t forget this advice is generic. Your personal situation has a huge impact on whether or not any piece of generic advice will apply to you or not. Additionally, generic advice typically does not provide actionable steps, making it not so helpful to begin with.
  2. Does the advice come from a place of experience and credibility?
    Chris warns about the temptation to take advice from the hyper-rich/hyper-successful crowd. While there is certainly lessons to learn, remember the wealthy make investment mistakes all the time, but they are able to absorb their losses due to their prior success. On the other end of the spectrum, beware of advice from those who haven’t achieved anything quite yet. While again there could be some good takeaways from their thoughts, don’t go all in on an unproven individual’s advice.
  3. Does the advisor have a personal bias?
    Chris points out that an advantage to utilizing a professional financial advisor goes beyond their credentials, and that there is actually great value in the fact that they are able to look at your personal situation with an inherent lack of bias. Since they are personally removed from the emotional impact your financial decisions have on your life, they are able to approach your situation from a different perspective than you may be able to see yourself.