do work you love: manage your risk

Do Work You Love Workshop Four:

“Manage Your Risk”

Escape The City • +150,000 members globally • Thousands of event attendees • Hundreds of “escape stories” • A vibrant community of career changers,

entrepreneurs, and people who want to ‘do something different’

Who Are We?

Matt Trinetti @trinetti

Adele Barlow @adelebarlow

EXERCISE

Who Are You? Why Are You Here?

What have we learned?

1.  Escape Your Blockers 2.  Find Your Passion 3.  Own Your Career

Today: Manage Your Risk

A Gamble vs. A Plan

What is your definition of WEALTH?

EXERCISE

What does your IDEAL LIFE look like?

EXERCISE

What are the RISKS preventing you acting?

EXERCISE

Tonight

Eight Methods to Managing Your Risk: 1.  Know what money means to you. 2.  Get philosophical. 3.  Confirm your financial situation. 4.  Crunch the numbers on your escape. 5.  Treat your escape like a startup. 6.  Spend and save consciously. 7.  Earn creatively. 8.  Invest in yourself.

1. Know what money means to you

Story: Red Bull Rick

Story: Red Bull Rick

The Voices in the Room

EXERCISE

What voices are in the room with you?

Reverse Role Models

“Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it... ...Options—the ability to choose—is real

power.”

Timothy Ferriss, The Four Hour Workweek

2. Get Philosophical

Stoicism and Practicing Poverty “Set aside a certain number of days, during which you shall be content with the scantiest and cheapest fare, with course and rough dress, saying to yourself the while: ‘Is this the condition that I feared?’” --Lucius Seneca (c. 4 BC-AD 65)

EXERCISE: The Condition You Fear

• What is your nightmare? • What steps could you take to repair the damage?

HOMEWORK: Practice Poverty

3. Confirm Your Current Financial

Situation

Story: Catherine

Changing Habits

EXERCISE Get a clear pictures on these four figures:

1. Income (Revenue) 2. Expenses (Costs)

3. Investments (Assets) 4. Debt (Liabilities)

4. Crunch the numbers on your escape.

Story: Soul Patel

The Property Question

HOMEWORK: What’s Your Runway?

A.  Minimum you can live on per month (during your escape)

B. How many months you think you’ll need C. Ideal recurring income after the transition (post-escape) D. Your total escape fund (pre-escape savings)

Homework: Dreamlining

5. Treat your escape like a startup.

Story: Vidu

Connecting the Dots

EXERCISE

6. Spend and save consciously.

“How many times have you opened your bills, winced, then

shrugged and said, ‘I guess I spent that much’?”

Ramit Sethi, I Will Teach You To Be Rich

Spend and Save Consciously Major Takeaways: •  Cheap vs. Frugal •  Spend on what you love •  It’s hard to save unless

there’s a reason

Story: Dom Jackman Three-Account Saving System:

Account A: Fixed Costs Account B: Monthly Budget Account C: Salary/Income

Spend Consciously

Ramit Sethi, I Will Teach You To Be Rich

EXERCISE: Monthly Costs

7. Earn creatively.

Story: Adele

The Invisible CV

EXERCISE: Skill Sale

What projects would be ideal

for your invisible CV?

8. Invest in yourself.

You as an Asset Major Takeaways: •  Increase assets, question

liabilities. •  For most people, their

profession is their income; for rich people, their assets are their income.

Story: Matt

Story: Matt

EXERCISE:

What are ways you can invest in yourself?

Eight Methods to Managing Your Risk: 1. Know what money means to you. 2.  Get philosophical. 3.  Confirm your financial situation. 4.  Crunch the numbers on your escape. 5.  Treat your escape like a startup. 6.  Spend and save consciously. 7.  Earn creatively. 8.  Invest in yourself.

Can you manage your risk to a fault?

Maybe you shouldn’t have a cushion... Five reasons you shouldn’t have a cushion before you quit: 1.  Lights a fire under your ass 2.  Forced to get creative 3.  Learn to focus 4. Don’t lose the fire 5. The sooner you start, the

sooner you can succeed

HOMEWORK 1.  I Will Teach You To Be Rich (Ramit Sethi) 2.  Stoicism 101: A Pratical Guide for Entrepreneurs

(Tim Ferriss’s blog) 3.  Your Money or Your Life (Joseph R. Dominguez) 4.  Rich Dad, Poor Dad (Robert Kiyosaki) 5.  Escape from Cubicle Nation (Pamela Slim)

- THANK YOU -