Nikonomics - The Economics of Small Business 173 - $1M ≠ Freedom; It’s a Mirage with Jacob Turner
May 19, 2025
Jacob Turner, a former professional baseball player, now aids athletes and entrepreneurs in wealth management at Moment Private Wealth. He discusses his transition from the diamond to the boardroom, emphasizing resilience and humility. Jacob draws parallels between sports and business, illustrating how setbacks can fuel growth. He shares insights on managing cash flow, seeking feedback, and the importance of financial education in entrepreneurship. Tune in for his strategic tips on avoiding lifestyle creep and investing wisely!
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Jacob Turner's Humbling Baseball Start
- Jacob Turner signed a contract paying about $7 million, receiving $1.2 million at 18.
- He made it to the big leagues at 20 but was sent down the next day, starting a humbling journey.
Resilience Links Sports and Entrepreneurship
- Sports and entrepreneurship require resilience to setbacks; both demand getting kicked in the teeth and rising again.
- The key difference is in natural talent for athletes versus mindset resilience for entrepreneurs.
Pitcher Demotion Builds Humility
- Jacob was moved from starting pitcher to bullpen, initially a blow to ego but later seen as an opportunity.
- Aging in sports taught him humility and gave perspective on young hopefuls entering the game.