The Darius Foroux Show: Mindset, Business, Money

What does it mean to be wealthy? It's a common belief that being wealthy means having lots of money. That’s true on some occasions, but it’s not always the case.

My book “The Stoic Path to Wealth”, introduces another way of looking at life. This is the first book that combines wealth building and investing with Stoicism. Because the Stoic philosophy is about focusing only on what you can control and disregarding anything else. It’s a philosophy you can apply to every aspect of your life, especially wealth.

To lead a wealthy life while remaining Stoic is to manage your emotions and focus on what you can do with your own money. In this video, I will summarize the most important points of The Stoic Path to Wealth.

Grab your copy of The Stoic Path to Wealth here:

In this episode, I share my answers to the most frequently asked questions about my new book, The Stoic Path to Wealth.

Enjoy!

In my experience, you do your best work when you’re in a good mood and you’re focused.

You can also look at it as being a state of “Flow,” which is a term the psychologist Mihaly Csikszentmihalyi coined.

You can get in a Flow mind-state by having the right balance between challenge and skill level.

How do you know you have Flow? When work is effortless and you’re making progress.

I’m finally in that state as I’m writing this after being out of it for a few months. I was dealing with major renovations at my home, and then, I had to do a lot of small tasks here and there for my upcoming book.

Once I finished my most pressing tasks, my goal was to get into Flow again. I took it easy. Fiddled a bit. Read some books. And journaled a lot.

“Getting close” is something I wrote about often. And then, a few days ago, it hit me: Ignore all the noise and only focus on writing.

So that’s what I’m doing now. Plus, I combine it with another productivity strategy, the Pomodoro technique. When you do that, you have the ultimate productivity stack.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

I wanted to be rich so bad for my entire life.

In high school, I watched Wall Street with Michael Douglas and Charlie Sheen. It was supposed to be a cautionary tale but I saw it as inspiration.

I wanted to be Gordon Gecko, the crazy high risk Wall Street trader. When I was 17, I got a job at a call center during the summer.

I was on the phone every day, working double shifts. I was selling mobile phone subscriptions to people, mostly elderly. It was a shameful job but I was making money. So I felt good.

This is how badly I wanted to get rich. But I was a teenage idiot.

Now, 20 years later, I finally understand that being rich and having a lot of money is not the same as being wealthy.

You can also be rich and not wealthy.

At some point, we all realize that life is just a collection of our memories.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

I analyzed three of Warren Buffett's biggest stock picks (GEICO, Coca-Cola, Apple) and drew lessons from that. By understanding the thought process of his stock picks, we can emulate his mindset.

Whether you’re a passive or active investor, we can all use a little bit of “Warren Buffett” in our strategy.

You probably won’t be surprised by the conclusion of this article: Have patience, be diligent, avoid greed, and bet on a prosperous future.

We all know what it takes. But the key is to internalize these ideas.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

I think having a sene of urgency and responsibility when it comes to your career is one of the biggest motivators.

But if you put too much pressure on yourself to succeed, it can work against you. This is a dynamic that I’m constantly trying to balance.

Last year, when I finished the final draft of my new book, The Stoic Path to Wealth, I immediatly started thinking about the marketing campaign.

My self talk included a lot of “I need to do” xyz. And then, I would think, “If I don’t do this, the book won’t succeed.”

This type of “I need to do X (action) otherwise y (bad outcome) will happen” thinking is a complete and utter waste of your energy.

And you must avoid it as soon as you become aware of it. Here’s what Epictetus said about that:

“If you want to make progress, dismiss this kind of reasoning: ‘If I neglect my business, I will have nothing to live on.’ It is better to starve to death in a calm and confident state of mind than to live anxiously amidst abundance.”

The truth is: You don’t need a lot to have happiness and peace.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

If you spend an hour on Twitter or Instagram, you almost believe that everyone can get rich quickly.

“Start an AI company or write content online. You’ll make $500K a month, just like me!”

The idea that success can be duplicated is one of the oldest fallacies in business and money. Just because a certain blueprint worked for Person A, it doesn’t mean it works for Person B.

This is also why a lot of smart people are not wealthy. Over the past two years, I’ve been getting emails every week from disillusioned writers.

They say they fell for the dream that these social media prophets talk about everywhere. They realize success is not only about skill, it’s also a matter of talent and luck.

And the interesting thing is that all these people are smart. After all, it sounds so logical. If someone else did it, you can do it too, right?

Well, not with everything. More on that in my other new article.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

I seriously started practicing Stoicism when I was 28. That’s when things started to change in my life. That was in 2015. Since then, I’ve become happier every year.

9 years after I started living as a Stoic, I can wholeheartedly say that happiness is a muscle that gets stronger the more you train it.

In this episode, I share 5 of the most useful Stoic principles with you. Here’s my favorite, which is based on a quote from Epictetus:

“Our master is anyone who has the power to implement or prevent the things that we want or don’t want.”

Too many of us are slaves to external validation and signaling. The Stoics reminded us to focus inwardly. To be driven by virtues. And to ignore society’s status game.

Your self-worth should be determined by yourself, not by the car you drive, job, or vacation spots you visit.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

My parents bought their first house in 2000. My mother told me that one of their family members broke ties with my parents because of that.

Certain people think that buying a house is not for everyone. Those types of people also believe that higher education is not for everyone. Or that owning stocks is only for rich folks.

These are examples of mental barriers.

So many of us have false beliefs about money and life. And those false beliefs can prevent us from ever living a good life. This is where Stoicism and mindfulness can help us.

By becoming more self-aware, we can prevent ourselves from falling into the trap of mental barriers.

In my latest article, I share 7 mental barriers that I personally had to overcome in my life.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

My new book, The Stoic Path to Wealth, is coming out on July 16th.

This book is the most comprehensive guide on how to build wealth that will last your entire lifetime, and beyond.

If you pre-order the book, you will instantly get access to the following products:

1. The Stoic Success Course

This is a brand new video course that shows how to improve your health, wealth, and happiness by applying practical lessons from Stoicism.

2. Effortless Learning Podcast

This is a limited podcast series I recorded which will help you to boost your personal growth and learn skills faster, with less effort.

3. Inner Fortress Magazine

This is a digital magazine that I wrote and designed for the launch of The Stoic Path to Wealth. The magazine includes tips to cultivate resilience and inner peace.

4. Inner Circle Newsletter

Finally, everyone who pre-orders the book gets free access to my secret newsletter. This is where I share my latest and most important insights.

Pre-order the book now and get instant access to exclusive bonuses here:

Stoicism, an ancient Greek philosophy, is not just a guide for leading a virtuous and meaningful life; it can also be a roadmap to financial success.

Nearly all the prominent Stoics were well off, from the founder, Zeno, to the most prolific writer of the bunch, Seneca. In fact, you can argue that Stoicism was for wealthy people at the time.

This is why it’s such a popular philosophy today.

We have so many resources at our disposal that we don’t even know what to do with them. We live in a world where boredom is widespread.

Now, here’s the main concern with the pursuit of wealth. If your only reason to acquire money is so you can a fancier car, go on more luxury vacations, and wear better clothes, you’re missing the point.

I believe that Stoicism should (and must) be applied to money because without a Stoic mindset, one will succumb to greed.

In my latest episode, I’ll share a few ways you can get rich without getting greedy.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

I’m very introverted. I truly enjoy (and need) time alone. Too much social contact drains my energy.

One misconception about introverts is that they lack confidence. People falsely assume that we don’t want to be around others for that reason.

In her book, Quiet, psychologist Susan Cain calls that concept the “Extrovert Ideal.” It’s the widespread belief that being outgoing, assertive, and socially proactive makes a person successful. As it turns out, introversion has its own set of strengths and advantages.

According to Cain, some of these strengths include better problem-solving skills, more creativity, empathy, and the ability to work independently.

In my experience, we can all benefit from cultivating the introverted side of us. When we nurture that by spending more time alone, we actually become more self-confident.

We no longer look for external validation. We gain more appreciation for ourselves. More on that in my new article.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

The habit of journaling may seem small and insignificant. “How can writing personal notes in my journal every day do anything for me?” You might ask.

I understand the skepticism. Even I had some doubts in the beginning. But journaling truly can change your life.

Just ask any person who journals. You won’t find a person who says, “Journaling is so-so.”

Everyone who does it loves it.

Since 2015, I have made journaling an integral part of my morning routine, and it has helped me succeed in various areas of my life. I also grew happier.

In this episode, I share four techniques that I keep turning to in my journaling practice.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

I have a love/hate relationship with impatience. 

I love it because it has helped me to accomplish things in my career. When something needs to be done, I do it immediately. I just can't wait.

But that approach is not helpful when it comes to your finances. To build proper wealth, you need patience.

You can read about investing and compounding as much as you want. But unless you don't have the patience to let your money compound, you can never reap the benefits.

This is something I had to learn. To all my fellow impatient-natured people, learn the art of patience. It will help you immensely in life.

Listen to learn more!

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

The German philosopher Friedrich Nietzsche wrote this in his book, The Gay Science, about purpose:

“Gradually, man has become a fantastic animal that has to fulfill one more condition of existence than any other animal: man has to believe, to know, from time to time why he exists; his race cannot flourish without a periodic trust in life–without faith in reason in life.”

Nietzche said that we need to have some kind of trust in life. Just surviving, eating, working, and procreating are not enough.

The purpose is the compass that guides us through life. It’s not about achieving grandiose goals or accumulating material wealth.

It’s about finding fulfillment in what we do and making a difference.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

Smartphones have become an extension of ourselves. We use them for almost everything - from staying connected with friends and family, to managing our schedules and even for entertainment.

Worrying is a natural human response to uncertainty. But when we allow our worries to consume our thoughts at all hours of the day, they can quickly become overwhelming.

One effective strategy to manage this is by only giving yourself five minutes to worry and sulk over negative emotions. Call this your 5 minutes of worry time.

Worrying is a natural part of life. We all have things that cause us stress and anxiety, whether it’s work, relationships, or just the daily grind. And sometimes, it can feel overwhelming to try and push those worries away. But having a bit of time to allow ourselves to worry can also be helpful.

So during your 5 minutes of “worry time,” allow yourself to think about all the things that are causing you stress.

Give yourself permission to worry. By acknowledging our worries, we can better manage and control them. But once the time is up, move on to something else.

Listen to this episode to learn more.

In this episode, I share how I dealt with my latest setbacks. I talk about how you can use challenges to learn and adapt. And to come back stronger!

Pre-order my new book, The Stoic Path to Wealth

Combining ancient wisdom with practical investment strategies drawn from analysis of the greatest investors of all time, The Stoic Path to Wealth will teach you how to:

• cultivate an investing edge by managing your emotions and developing your unique skills and talents
• develop the discipline to ignore short-term market fluctuations and avoid living in the future
• foster a mindset that allows you to enjoy what you have and avoid greed
• create a sustainable approach to trading

Coming July 16th, 2024

I believe our natural response to setbacks is stress. When you deal with loss, sickness, conflict, or uncertainty, you get that heavy feeling in your stomach.

Your mood becomes dark. You start feeling less energetic. Your instincts tell you to run.

For some people, that type of stress lasts only a few hours, but for others, it can go on for weeks or months.

What matters is that you don’t get stuck in those negative feelings. Because when you don’t address your setbacks, you start to get emotionally scarred.

There’s another option: You can see every setback in your life as an opportunity to get smarter, stronger, better.

Here’s what J.K. Rowling said about setbacks:

“The knowledge that you have emerged wiser and stronger from setbacks means that you are, ever after, secure in your ability to survive. You will never truly know yourself, or the strength of your relationships, until both have been tested by adversity.”

In this episode, I talk about how I use this strategy in my own life.

Pre-order The Stoic Path to Wealth

My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.

In my experience, there are a few things you can do when your brain feels clogged.

1. Get rid of your overwhelming goals: What’s a big goal that you really want to achieve badly? Something big. Delete it from your brain. Focus on the present and enjoy yourself. You can always come back to your goal later.
2. Stop multitasking: Focus on one thing at a time.
3. Take a few days off or work less: Your brain needs some rest!
4. Limit negative inputs: Avoid negative people for a while. And also avoid negativity on social media and the news.
5. Take a long walk: You’ll feel much calmer while getting some exercise.
6. Sleep early: Avoid screens and take a book with you to bed.

You wouldn’t keep your computer running without ever restarting it. Likewise, your brain needs to rest and rejuvenate, especially when pushed to its limits.

More on each tip in this episode.

Join the Financial Freedom Challenge

I've created a free 5-day email course. It's called the Financial Freedom Challenge, and it will help you take control of your finances and start building wealth.

Break free from living paycheck to paycheck with nothing to show for.

For the longest time, I had this dream of living in Spain. Who doesn’t want to live somewhere warm and close to the beach?!

Well, me.

In this episode, I share why and what I learned.

I gave it a try in 2022 and spent six months living in Spain. I learned a lot. And I even met my girlfriend there.

But I realized that living somewhere warm was just a dream.

I got used to the weather. And it made me realize that I was complaining too much about the weather in The Netherlands.

Since I got back, I’ve been enjoying my hometown a lot more.

This is literally the oldest cliche in the book, but home is truly where the heart is.

As you go about your day, don’t forget to appreciate your town, no matter where you’re from.

Join the Financial Freedom Challenge

I've created a free 5-day email course. It's called the Financial Freedom Challenge, and it will help you take control of your finances and start building wealth.

Break free from living paycheck to paycheck with nothing to show for.

I started writing daily in 2015. Since then, I published over 600 articles and wrote 8 books. I easily wrote more than a million words. There are many things I have learned from writing.

I published an article with 12 lessons I learned. In this episode, I share every point briefly. And at the end, I talk about my most important takeaway.

The late Charlie Munger, renowned investor and long-time partner of Warren Buffett, said this during a 1998 annual shareholder meeting of Berkshire Hathaway:

“The hard part of the process for most people is the first $100,000. If you have a standing start at zero, getting together $100,000 is a long struggle for most people.”

This is so true. In this episode, I talk about my own journey. Here are the stages.

The First Three Years: The Foundation Year Four: Start Reaping Year Five: Compounded Reaping

I started writing every day in 2015. Since then my life completely changed. I wrote 8 books and reached millions of people with my words. Writing daily helped me to build a 7-figure net worth.

Here’s why writing helped me to change my life:

1. Focus: By translating my thoughts, I boost my focus. I know what I should work on.

If you want to improve your writing skills, join my online class, Effective Writing. It’s only open once a year.

Regsitration for the 2024 class is between January 28 and February 4.

Charlie Munger once said: “More investors don’t copy our model because our model is too simple. Most people believe you can’t be an expert if it’s too simple.” The simplest investing ideas are truly the best.

Here’s a simple idea: If you have freedom, you have wealth

A lot of people fall into the trap of endlessly chasing more money. They wait to feel fulfilled until they have a certain amount of money in stocks or the bank. But wealth is more a feeling than a number.

Wealth isn’t just about accumulating money; it’s about financial stability and freedom. It’s the ability to weather financial emergencies, the freedom to make choices that aren’t dictated by financial constraints, and the peace of mind that comes from knowing you’re financially secure.

High earners can still struggle financially if they spend recklessly and save little. On the other hand, those with modest incomes can accumulate substantial wealth by living frugally and saving diligently. This is where simple investing ideas come in.

When you focus on setting your life up in a way that you have freedom, you can call yourself wealthy. And you can feel free even if you’re not a millionaire.

The DF Show is back! New episodes coming out weekly.

In this episode, I talk about a life lesson I learned from the Stoic philosopher, Seneca.

Seneca taught that happiness doesn’t come from always wanting more, but appreciating what we already have. Contentment comes from understanding and valuing our present achievements, rather than constantly striving for the next big thing.

We all want a bit more. That’s just natural. We want a bit more income to buy the stuff we want; more time to achieve more things; more strength and stamina to experience more of life, and so forth.

And here’s the thing: It’s okay to strive for these goals. We don’t have to let ourselves stagnate. But we also need to take some time to appreciate what we already have.

It’s something I like to journal about regularly. I look back and see how far I’ve come from when I started. When you’re consistent in executing your goals, you’ll go far, even little by little. And that’s something to be grateful for.

Join the Financial Freedom Challenge

I've created a free 5-day email course. It's called the Financial Freedom Challenge, and it will help you take control of your finances and start building wealth.

Break free from living paycheck to paycheck with nothing to show for. 

The Matthew Effect, also known as the principle of accumulated advantage, is not only a platitude; it’s a scientifically recognized phenomenon that has been studied by sociologists and economists.

Coined by sociologists Robert K. Merton and Harriet Zuckerman in 1968, the term derives its name from a biblical parable found in the Gospel of Matthew.

A few words of encouragement. Thanks for listening.

On this episode, I talk about meaningful productivity. By applying this strategy you will make more progress and stress less.

Learn about my productivity system, Procrastinate Zero 2:

Are you ready to turn the page towards a more fulfilling life? In my latest video, "Journaling Will Change Your Life: 4 Tips to Get Started," I delve into the transformative power of penning down your thoughts.

This isn't your typical 'Dear Diary' stuff - it's about self-discovery, growth, and turning dreams into reality. It's like having a conversation with yourself, a friend who's always there to lend an ear, and a personal coach rolled into one.

I'll share four practical tips to kickstart your journaling journey, from which type of journal to choose, to the best time to write, to overcoming the initial fear of that blank page. 

I've been there too, staring at an empty page, wondering where to start. I'll help you navigate those beginning stages, and soon, you'll be filling pages with your deepest thoughts and brightest ideas.

Remember, this is your story, and only you can write it. So why not start now? Tune in to get started on your journaling journey. Because as I love to remind you - the best time for self-improvement is always today!

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Success isn't just about luck or talent - it's about adopting the right mindset. In this enlightening video, we delve into the 5 powerful mindset shifts that have transformed the lives of many successful individuals.

From embracing failure to fostering resilience, these mindset shifts will empower you to overcome barriers and reach new heights.

Whether you're an entrepreneur, a student, a professional or someone looking to unlock their potential, this video is for you. You'll learn how to cultivate a growth mindset, develop a relentless focus, embrace change, practice gratitude, and build resilience.

These key mindset shifts are not just theories; they're practical, actionable strategies you can implement in your life now. So, don't wait for success to come knocking on your door - make the shift and create your own success story.

Join us on this transformative journey and remember that your mindset is the only limit to your success. Tune in, subscribe, and let's start building your path to success today!

Timestamps:

0:00 - Introduction 0:50 - Progress over perfection 2:38 - Focus on high impact 5:08 - Practice gratitude and simple living 6:36 - Use setbacks as energy

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Note: This is a video episode! Watch it on Spotify or YouTube.

In today's video, we're taking a unique spin on wealth creation by exploring 4 unconventional books that can guide you on your journey to financial success.

We kick off with J. Paul Getty's "How to Be Rich." Don't let the straightforward title fool you - this book isn't your typical get-rich-quick manual. Instead, it offers timeless insights on wealth and success from one of history's richest men.

Next, we dive into ancient wisdom with Epictetus' "Discourses." While not explicitly about money, this philosophical gem teaches invaluable lessons about control, perspective, and contentment - key ingredients for a rich life.

Book number three is Peter Lynch's "One Up on Wall Street". This classic guide demystifies the world of investing, providing practical advice on how to spot opportunities and make smart investment decisions.

Finally, we explore "Seeking Wisdom: From Darwin to Munger" by Peter Bevelin. This book is a treasure trove of wisdom collected from diverse fields like biology, psychology, and philosophy, all aimed at improving our decision-making skills - essential for building wealth.

So, are you ready to redefine what it means to be rich? Join us as we delve into these thought-provoking reads and uncover their unconventional yet powerful lessons on wealth creation.

Remember, getting rich isn't just about accumulating money, it's about growing as an individual and making wise decisions. See you in the video!

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01:10 - J. Paul Getty - How to Be Rich

03:47 - Epictetus - Discources

08:18 - Peter Lynch - One Up on Wall Street

13:40 - Peter Bevelin - Seeking Wisdom: From Darwin to Munger

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More book recommendations: https://dariusforoux.com/books-to-get-rich/

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In this episode, we delve deep into the ancient philosophy of Stoicism. As a philosophy that's stood the test of time, Stoicism offers profound insights and practical wisdom that can dramatically enhance our quality of life.

We'll explore how Stoicism can help us navigate through the highs and lows of life with grace, resilience, and calmness, turning obstacles into opportunities.

Join me as I unpack the essence of Stoicism and share how you can apply its principles to lead a more meaningful and fulfilling life.

Hey! New episode. This one is about living a productive life.

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On this episode, I’m expanding on the previous one. Right after I finished recording part 1, another reader asked me how I generate revenue as a writer and teacher. I talk about that (and more) on this episode. 

Learn more about http://digitalbusiness.school.

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Receive weekly tips to become Wise & Wealthy

Wise & Wealthy is a weekly newsletter full of proven ideas to become smarter and wealthier. I send this short email every Monday.

I recorded a podcast about how I got started with writing. A few readers have asked me about this recently. They mentioned they were stuck right now and were looking for inspiration in other people’s stories.

Here’s a brief version of mine.

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Receive weekly tips to become Wise & Wealthy

Wise & Wealthy is a weekly newsletter full of proven ideas to become smarter and wealthier. I send this short email every Monday.

It's been a while since I did one of these "update" episodes. In this one I talk about training for a race, traditional publishing, rebranding my newsletter, and more. 

Thanks for listening! 

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Join my online course Procrastinate Zero 2

Learn more about how you can improve your energy, focus, and productivity.

Hi there, welcome to the latest episode! I talk about the latest developments in the global economy and how we can improve our ability to deal with a potential slowdown. Since no one knows when things will slow down, it's better to prepare and to stay focused on what you control.

Thanks for listening!

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Receive weekly tips to become Wise & Wealthy

Wise & Wealthy is a weekly newsletter full of proven ideas to become smarter and wealthier. I send this short email every Monday.

Today’s guest is Amy Shearn, an award-winning author of five novels including Unseen City. She has also worked as an editor at publications like JSTOR Daily and Medium’s Creator Hub, Human Parts, Forge.

I’ve known Amy for nearly two years and she’s been the editor of my Stoic Letter column on Medium. On this episode, we talk about everything writing, creativity, journaling, editing, and a lot more!

Enjoy!

I’m joined by the investor and author Vitaliy Katsenelson. He’s known for his investing track record and books about value investing. But in his latest book, Soul in the Game, he shares his philosophy for life.

We talked about Stoicism, journaling, art, skills, and how everything translates to a meaningful life.

Enjoy!

On this episode, I'm joined by Amantha Imber, who's an organizational psychologist and founder of behavioral science consultancy Inventium. She also hosts the How I Work Podcast (I've also been on her show!).