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Payne Points of Wealth Podcast

The Shrink for Entrepreneurs Ep#153

By March 16, 2024No Comments

Understanding entrepreneurs

This week we talk to Peter Shallard, known as The Shrink for Entrepreneurs. He serves as a behind-the-scenes confidante and advisor to some of the world’s top startup founders, counseling them on the intersection of psychology and business. Clients across his roster have collectively raised hundreds of millions of venture capital and created market capitalization of billions.

Peter is also the founder and CEO of Commit Action – a revolutionary Accountability Coaching for Entrepreneurs that helps business owners double their focus and productivity, with a dedicated pro accountability coach. Commit Action helps you eliminate overwhelm, destroy self-sabotage, lock in laser focus, and get more done in a few days than most do in a month.

Some of the questions and topics include:

The two types of entrepreneurs and their risk profiles 1:20

..young people no longer want to drop out of school and become rock stars.. they want to drop out of school and become startup founders.

Peter Shallard

A big win can become addictive and lead to taking too much risk 3:50

The odds of another success after doubling down on the first (like Elon Musk) 4:40

“Even though they’ve been successful, they need to do a risk assessment on that success.”

Peter Shallard

How over-confidence can distort your perspective 7:35

Suddenly these VCs are hitting your phone like spam.. and you’re like, maybe they’re right.. maybe I am a genius.

Peter Shallard

The lone wolf entrepreneur mythology 12:00

The most dangerous phrase you’ll ever hear a 2nd time founder say 14:00

I watched this guy take an 8 figure nest egg and just drain it..

Peter Shallard

The big liquidity event mindset 14:00

There’s that temptation to double-down, to go back to the roulette table..

Peter Shallard

Go back to the beginning and reconnect to what drove you to start that business in the first place 23:00

The first thing you should do is set up a totally bulletproof way to have that thing you wanted..

Peter Shallard

Listen to or watch the full episode for more!