My Worst Investment Ever Podcast
Business:Investing
BIO: Sheryl Garratt is a coach who helps creative professionals do their best work - while also living their best lives. She was a journalist for more than 30 years, the editor of The Face and The Observer magazines, and has published several books, including Adventures In Wonderland, a history of British nightclubs.
STORY: Sheryl’s perfectionism, which she wore as a badge of honor, has made her miss out on great opportunities over the last couple of years.
LEARNING: Shove your ideas out there and see what happens. In business, you should be iterating often.
“Shove your ideas out there and see what happens. If you just sit there reworking the same thing repeatedly, you’ll overwork it and kill the life out of it.”Sheryl Garratt
Guest profile
Sheryl Garratt is a coach who helps creative professionals do their best work - while also living their best lives. She was a journalist for more than 30 years, the editor of The Face and The Observer magazines, and has published several books, including Adventures In Wonderland, a history of British nightclubs.
Sheryl has a free 10-day course to help writers, artists, musicians, designers, makers, and creatives of all kinds grow their creative business. Sign up for it at free 10-day course.
Worst investment everSheryl’s perfectionism has been her worst investment over the years. She used to wear her perfectionism as a badge of honor and thought that meant something exceptional. But it only cost Sheryl dearly. It stopped her from doing things that might have been fun and wasted a lot of her time over the years.
The ideas that Sheryl spent so much time trying to perfect are the ones she never completed. She must have had over 100 book ideas she never wrote because she couldn’t perfect them. At one point, a major publisher offered Sheryl quite a lot of money for a nonfiction book and asked her to pitch them ideas. By the time Sheryl had honed all those ideas, that editor had moved on and wasn’t working at the publishing house anymore. Sheryl has also had prestigious magazines ask her to send ideas so she can work for them. She’d take too long to work on the ideas, and the magazines would change direction.
Lessons learnedDo it quickly and set restraints on whatever you’re trying to do. For example, if you’re trying to write something, give yourself an hour to write it, and then put it out in some reasonably low-risk outlet such as a blog or Medium. Then do it again the next week, the week after that, and the week after that, and you’ll get better. But if you just sit there rewriting the same thing repeatedly, you’ll overwork it and kill the life out of it.
Kim’s recommendationsKim recommends her free 10-day course that outlines how to set up and grow a creative business. The course is relevant for those starting out and also for more established business owners who want a business health check. The course is just 10 emails in 10 days.
No.1 goal for the next 12 monthsSheryl’s number one goal is to finish her book by the 31st of December this year. Ready or not, she’ll publish the book next March.
Parting words“Just do it.”Sheryl Garratt
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Connect with Sheryl Garratt
Laurens Swinkels – Stay Liquid Even When Investing Long-Term
Spencer Jakab – Don’t Take Investment Tips from People
Charles Rotblut – Realize When You’re Lucky and Walk Away
Arjun Murti – You’ve Got to Get Out of the Battle At Some Point
ISMS 25: Larry Swedroe – Admit Your Mistakes and Don’t Listen to Fake Experts
Steven Wilkinson – Your Success Is 100% Dependent on You
Shawn O'Malley – Geopolitics Can Take Your Investment to Zero
Peter Saddington – I Got Fired From My Own Company
Neville Medhora – Hot Stock Tips Are Generally Unreliable
Jack Farley – Don’t Play in Markets You Don’t Know
Carter Malloy – Valuation Is Not a Reason to Invest
ISMS 24: Larry Swedroe – Confusing Skill and Luck Can Stop You From Investing Wisely
Gisela Hausmann – Encourage and Appreciate Your Employees’ Creativity
Connor Steinbrook – Do Due Diligence Before Visiting a Real Estate Property
Zachary Resnick – Invest in People Not Just Ideas
Chris Mamula – Take Responsibility for Your Financial Situation
Michael Howell – Liquidity Is the Main Driver of Asset Markets
Brady Slack – What to Look For in a Coach or Mentor
Richard Lawrence – Avoid the Stock That’s the Hype of the Day
Vineer Bhansali – You Create Real Value by Being Different
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