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Published Aug 3, 2018

77: Feedback Friday | How to Build Good Financial Habits from the Ground Up

Hosts Jordan Harbinger and Jason DeFillippo delve into mastering social drinking, forging robust financial habits, tackling career transitions, and coping with emotional stress. They provide actionable advice on maintaining self-control, automating finances, overcoming nepotism, and the therapeutic value in healing past wounds.
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  • Job Transition

    Transitioning jobs can be a delicate process, especially when it involves leaving behind colleagues who rely on you. advises that maintaining professional relationships is crucial when moving to a new position. He suggests accepting a new job offer but requesting time to ensure a smooth transition for your current team 1.

    It's important to keep your reputation intact and you can literally say, "Because I don't want to leave my workmates and current company in a lurch, because I never want to do that to anyone or any company, and it's important to keep my reputation intact."

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    This approach not only preserves your reputation but also demonstrates respect for both your current and future employers.

       

    Proving Merit

    Proving oneself in a family-owned business can be challenging, especially when nepotism is a concern. emphasizes the importance of humility and hard work to earn respect from colleagues. He advises taking on less desirable tasks and publicly acknowledging the help received from coworkers 2.

    If you're the guy who is busting butt first in last out of the office, no one's going to say, "Oh yeah, you have to leave at 2 p.m every day because your dad's the boss, that kind of thing."

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    By asking for advice and showing genuine interest in learning, you can overcome initial biases and build a solid reputation based on merit 3.

       

    Competitor Strategy

    Approaching competitors for market research requires tact and strategy. humorously points out the futility of directly asking competitors for sensitive information. Instead, he suggests gaining industry experience by working within a competitor's company to understand the business from the inside 4.

    The best way is to get a job with the competing company. Learn how their business works from the inside out.

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    This method not only provides valuable insights but also helps in assessing whether the industry aligns with your interests and goals 5.

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