The WealthAbility Show with Tom Wheelwright, CPA cover image

The WealthAbility Show with Tom Wheelwright, CPA

Making Bad Decisions Worse

Mar 22, 2024
Discover how entrepreneurs compound bad decisions, tips on building a solid plan to avoid worsening mistakes, insights on stock market psychology, embracing external expertise for business success, navigating cognitive biases in decision-making, and Dr. Vincent D. Felipeau's upcoming book Breaking Point.
36:24

Podcast summary created with Snipd AI

Quick takeaways

  • Recognizing the need to correct bad decisions early is crucial for business success.
  • Emotion-driven decisions can lead to poor outcomes, emphasizing the importance of disciplined investing strategies.

Deep dives

Importance of Identifying and Correcting Bad Decisions

Avoiding compounding bad decisions is crucial for business owners and investors. Recognizing when to correct a bad decision rather than escalating it is key. Dr. Vincent D. Felipeau, expert on the topic, discusses the significance of understanding the consequences of bad decisions.

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