Chapter 1: Empty your Cup or Why the heck should I read this book?

1.6 To start managing your investing like a business


Is managing investments or for that matter money, at the level of an individual really different than how a business does it? It isn’t. Then is treating it as a ‘personal finance’ thing limiting how well you do it? And how would you think and manage it differently if you were to treat it like managing a business? What can you learn from this perspective? 
 
Now, if you are thinking I am going to get into some psycho fundas, I don’t blame you because the last chapter sounds like that. But I am going to suggest a more practical way of managing this.  I see two partners managing a business as an excellent model to manage your investing. I know most of you may not have any experience of managing a business and that it seems stupid to even try to manage your investing with something where you have even lesser experience. But it is the thinking about the matter in a different way that will shed light and get you unstuck.  
 
Why managing business is an empowering lens to view managing investing? And why thinking of it as managing personal finance, limiting? The moment we hear the word personal it creates an urge in us to keep it close to ourselves and not discuss it with anyone else. It also gives us the license to treat is as if we are not answerable to anyone else and this lack of accountability is a reason why so many people give personal finance very low priority and get away with mis-managing it. 
 
It triggers two extreme behaviours: 1) playing it very safe or 2) playing for big and quick returns bordering to ‘gambling’ like approach. Both these are counterproductive for...........Read More

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