SBO The psychology of financial budgeting

The psychology of financial budgeting

There are few words in the English language that conjure feelings of scarcity and deprivation than the word “budgeting”.  Our lizard brain responds to the term budget in the same way it responds to the word diet — utter dread. Budgeting, like dieting, sucks because it requires determination. It requires us to be disciplined with our spending habits. It forces…

SBO Why 'Profit' is wrong

Why ‘Profit’ is wrong

Accounting is the language of practical business life…but you have to know enough about it to understand its limitations – because although accounting is the starting place, it’s only a crude approximation. And it’s not very hard to understand its limitations. – Warren Buffett The most successful entrepreneurs preach that all businesses should be driven by purpose,…