Bouncing Back from Bankruptcy & Business Failure w/ Phil Sanders #1109

Joel met Phil halfway through a marathon a few months ago – literally in the middle of the race. It’s funny how life works and after running side by side and chatting for half an hour it was clear he’d only scratched the surface of his story. Phil Sanders is a serial entrepreneur and like most entrepreneurs, not every venture has been a home run. He’s experienced the highs, the lows of bankruptcy, and everything in between when it comes to building businesses. Today, Phil runs a company called Multiply, where he helps business owners sharpen their strategy, build more successful companies, and he’s here today to share some of his hard-earned wisdom. We discuss: How Phil is balancing current enjoyment with future savings Profitability should be a primary focus from day one Overcoming ego and temptation to find identity in work and business Identifying what you want out of your business How bankruptcy can lead to personal growth and new opportunities Vulnerability and overcoming fear to building strength and resilience Embracing change for professional and personal growth And much more! Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Phil: his financial services and strategy business is Multiply, and you can keep up with him on LinkedIn and Instagram Credit card perks: Check out our favorite credit cards that we use to maximize rewards and optimize our spending. Money Gears: knowing what to do with your money is crucial to your personal finance journey. Newsletter: Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Other money nerds: Find a thriving community of fellow money nerds by joining the HTM Facebook group! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! See omnystudio.com/listener for privacy information.