Staving Off the Inner Bag Lady: Shifting from Risk Aversion to an Entrepreneurial Mindset

Staving Off the Inner Bag Lady: Shifting from Risk Aversion to an Entrepreneurial Mindset

If you're anything like me, talking about money is like talking about politics or religion--you avoid it if at all possible. for lots of different reasons.  I think that American outlook on money makes it really challenging for entrepreneurs like me who entered this world late in life.  

Many of you know that I'm a "recovering attorney." I spent 31 years as a business lawyer. I chose law because I was risk averse with a capital "R." I didn't want the anxiety and risk of owning my own business. And as a lawyer, I stayed far, far away from anything that looked like marketing ("rainmaking" in legalese). I was very happy to collect my paycheck, where I got paid by the hour. Safety and security was my happy place.

When I retired, I jumped into the whirlwind world of entrepreneurship with HoonArts Fair Trade, where nothing seems to work as I hoped or expected. Money and risk and the related anxiety are part of the everyday experience.

It turns out that while I could learn the tools and techniques and systems of entrepreneurship, a constant challenge along the way has been on the "woo woo" side. Shifting my risk-averse mindset to an entrepreneurial mindset has been one of the biggest struggles, made more difficult because it was in the category of "what I didn't know I didn't know."

It turns out, my "inner bag lady" comes with me wherever I go. She's always ready to tell me I better be careful, I better not spend money if I'm not sure of the return. After all, there's always the risk that I could end up as the proverbial bag lady, sitting homeless under an overpass.

If any of this resonates with you, you might enjoy a recent podcast guest spot, "Staving Off the Bag Lady," I did on the Money Tale$ podcast, hosted by two inspiring financial advisors, Cammie Doder and Sandi Bragar. You can listen to the interview by clicking the photo below.

I also encourage you to explore other episodes of Money Tale$. As Cammie and Sandi explained their passion project:

"In American society, money is a taboo topic. By not talking with loved ones and friends about money, we miss opportunities to sort through the noise and learn the vocabulary and skills we need to effectively understand, evaluate and financially plan for what’s most important to us.

Money Tale$ gives a voice to this uncomfortable topic. Co-hosts Sandi Bragar and Cammie Doder bring more than 35 years of combined professional experience in personal finance to each episode to demystify money and demonstrate what it’s like to speak openly about personal financial matters.

Join us for interviews with modern day movers and shakers who share how money decisions intertwine with their daily lives and the wisdom they gained from those experiences."

You can find the Money Tale$ podcast at: . You can also subscribe on Apple Podcasts, Spotify or Google Podcasts.

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