Business Owner Self Sabotage
DecaMillionaire Decoded
Introduction
Justin Goodbread: Business owners are prone to self-sabotage. He says it's when we bend our personal goals in order to chase an immediate gratification. It is a profound and universal position that stems from a negative mindset, he says. The Financially Simple Show destroys the complexities of money for today's small business owner.
We business owners are a unique breed. In addition to the many plates we spin and the responsibilities we have, we want to see our businesses move forward. And, whether you realize it or not, we have a destructive habit that, if left unchecked, can undermine our dreams, our team, and our vision—and that habit is self-sabotage. In this episode, I discuss what self-sabotage is, why it happens, how to identify it, and how to limit it. I outline the roots of self-sabotage and describe how fear prevents us from seeking growth. I explain what impostor syndrome is and how it is a detriment to our chance of success. I also share different ways to overcome self-sabotage and underscore the value of self-awareness for business owners.
“When we have an abundance mindset we often never harm ourselves.” - Justin Goodbread
This week on the Financially Simple Experience:
- How we bend our values and goals to pursue immediate gratification
- The negative mindset, how self-sabotage stems from it, and how to reframe it
- My love for pizza and the difference between conscious and unconscious self-sabotage
- Finding the roots of self-sabotage
- How fear triggers self-sabotage
- Impostor syndrome and how it detriments our chance of success
- The common forms of self-sabotage
- Perfectionism and how it leads us to self-sabotage
- Celebrating small victories and other ways to combat impostor syndrome
- Why micromanaging and not asking for help is self-sabotage
- The importance of continuing education
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Our Favorite Quotes:
- “If you’re too wrapped up in menial tasks to invest in your own thought patterns, you’ll fall behind your competition.” - Justin Goodbread
- “We don’t look for perfection in business—there are too many moving parts. We look for best-in-class movement.” - Justin Goodbread
- “Perfectionism prevents the business owner from reaching good and great. Sometimes we don’t have to be the best in everything; we just have to be good at some things.” - Justin Goodbread
About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey.
If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher
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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).
This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.
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