Episode 24

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Published on:

13th Jan 2023

EP 24: Commandment #3: Navigating Infinite Trade-offs

Do you ever get tunnel vision when making important choices? Too often, we look closely at the upside or risk of a single decision, and we never stop to look at the possibilities that will disappear once we’ve made a choice.

 

On this episode of the Rigging the Game podcast, Dan covers the third commandment — every decision has an infinite number of trade-offs — including the TIMER acronym for all the currencies we have at our disposal, how to optimize before maximizing to find the most efficient path forward, and the consequences we run into when we don’t look at the trade-offs involved in our decisions. Join the conversation for another commandment that will help you play your game and achieve even more clarity.

 

Key Takeaways

  • What possibilities we remove when we choose to invest in something, and how to use that concept to make better investments.
  • Why the business school idea of “maximizing first” often won’t apply to you.
  • How to recognize when you can turn a “no” opportunity into a “yes” opportunity, and what to evaluate as you make your decision.

Favorite Quote

“We tend to view these opportunities that we face through this lens of ‘more’ and maybe fear of missing out. And so what if I don't capitalize on this? What's going to happen?...But what is the trade off? What could I be doing that's going to be a better use of my precious resources, because they're scarce?”

-Dan Nicholson

 

Resources

Visit Dan Nicholson’s website - Nth Degree CPAs and the Rigging The Game to learn how he helps small business owners cultivate good accounting and tax practices to achieve their financial goals. 

 

Don’t forget to check out Dan’s book Rigging the Game on Amazon. Interested in the Certainty Certified Advisor Program? Get the information you need at CertaintyU.com.

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About the Podcast

(UN)Conventional Wealth
(UN)Conventional Wealth is the top resource for entrepreneurs who want unconventional strategies and tips to win at business and life on their terms.

Entrepreneurs who are breaking through barriers while setting new standards in their industry recognize that the cliché, cookie cutter, and conventional recommendations about finance and business don’t apply to them.

This podcast will release you from the “WHAT YOU SHOULD BE DOING” chains so you can massively win at business and life by playing your game.

Painful shyness intersecting with an insatiable desire to compete (and WIN) birthed a relentless curiosity to understand how to massively win at business and confront fears without conforming to a set blueprint.

This show is for the purpose-driven entrepreneur who recognizes that the cliché, cookie cutter, and conventional recommendations about finance and business don’t work because they’re playing a different game.

As a painfully shy kid, I often found myself on the sidelines quietly observing the game of sports, life and business until the flames of competitiveness grew to a bonfire and took over. From the ashes, birthed a relentless curiosity and drive to understand how to massively win at business and confront my fears without conforming to a set blueprint.

I share the unconventional strategies and tips I learned to make sure you win (get what you want) under your rules. Hear all the “a-ha” moments as a business owner, dad, exercise enthusiast and serial idea generator while interviewing other thought leaders who have developed their own strategies to rig the game to win.