Episode #11 | Dave Goetsch: Collaboration – Lessons From The Big Bang Theory

In a recent talk about the lessons he has learned from the writers’ room, Dave described the importance of embracing uncertainty in the creative process. Of course, it’s also a fundamental part of personal finance. In this episode, Dave shares his history with money and how he came to recognize the power of collaboration.

Manisha’s Top Takeaways

1. Collaboration with colleagues is the secret to creation.
   Dave shared three rules on collaboration that he has picked up in the writers’ room: (!) Always “pitch the fix,” i.e., don’t whine, present a solution, (2) Catch-and-release. By all means, put your ideas out there. But if they’re not the right fit, have the confidence to let them go, and (3) Aim for the highest percentage of success. It’s not about the quantity of your input but rather the quality of your output. You don’t need to be speaking up all the time to make a difference; make sure when you do speak up, it’s with your best possible ideas. [5:00]
2. Partnering with a trusted financial advisor early in your career can make a huge difference to both your finances and peace of mind.
   What stood out to me most as Dave spoke about his experience with money was the massive transition Dave’s felt going from being fearful about losing everything to feeling relief that everything was going to be okay—all thanks to bringing in a fiduciary financial advisor whose investing philosophy matched Dave’s life philosophy. [11:15]
3. Collaboration isn’t always an outside job. Sometimes, the most powerful collaboration is with yourself.
   Dave pointed out that life takes a toll on everyone. Embracing one’s rough patches in life can bring a humility that can play a significant role in your ability to connect and collaborate with others successfully. Don’t be afraid to put your real self out there. [10:00]

Other Major Topics

• Dave’s answer to a colleague who wanted to know what to do with $1 million [0:15]
• Theodore Roosevelt’s surprising comment about collaboration [2:20]
• The relationship in his life that Dave wishes he had found it earlier. [16:25]

Resources Cited in the Episode

• “A Dying Banker’s Last Financial Instructions,” The New York Times 
• The Investment Answer by Daniel C. Goldie and Gordon Murray

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