My Worst Investment Ever Podcast

By Andrew Stotz

Listen to a podcast, please open Podcast Republic app. Available on Google Play Store.


Category: Investing

Open in Apple Podcasts


Open RSS feed


Open Website


Rate for this podcast

Subscribers: 27
Reviews: 0

Description

Welcome to My Worst Investment Ever podcast hosted by Your Worst Podcast Host, Andrew Stotz, where you will hear stories of loss to keep you winning. In our community, we know that to win in investing you must take the risk, but to win big, you’ve got to reduce it. Your Worst Podcast Host, Andrew Stotz, Ph.D., CFA, is also the CEO of A. Stotz Investment Research and A. Stotz Academy, which helps people create, grow, measure, and protect their wealth. To find more stories like this, previous episodes, and resources to help you reduce your risk, visit https://myworstinvestmentever.com/

Episode Date
Vijay Pravin Maharajan – Spend Time, Not Money Before You Invest
21:39
BIO: Vijay Pravin Maharajan is the Founder and CEO of bitsCrunch GmbH, a Blockchain Analytics company focused on securing the NFT ecosystem. STORY: Vijay lost over 90% of his savings after investing blindly in cryptocurrency. LEARNING: Do thorough due diligence before investing in anything. Don’t follow people blindly.   “Before you spend your money, take your time to research the investment.”Vijay Pravin Maharajan  Guest profilehttps://www.linkedin.com/in/vijaypravin/ (Vijay Pravin Maharajan) is the Founder and CEO of https://bitscrunch.com/ (bitsCrunch GmbH), a Blockchain Analytics company focused on securing the NFT ecosystem. He has a masters in Electrical Engineering and Information Technology from Technische Universität Munchen (TUM), Germany. Vijay is a 3x TEDx Speaker. He’s also the first Indian to be invited for a TEDx talk in Germany below 30. He was nominated as ‘Top Men Leaders to look up to in 2021’ by Passion Vista magazine. He was also awarded as ‘Top 40 Data Scientists under 40’ in India. And finally, he was nominated as ‘20+ Inspiring Data Scientists to follow in 2020’ by AI (Artificial Intelligence) Time Journal from the United States. He previously worked a Siemens Mobility, Volkswagen AG, and Telefónica GmbH in Germany. Worst investment everAfter completing his master’s in Munich, Vijay’s friends pulled him into the crypto space. He took close to 80% of his savings and put them into crypto. Vijay ended up losing almost 90% of his investment. His biggest mistake was not doing any research. He just followed his friends blindly. Lessons learnedDo thorough due diligence before investing in anything. Don’t follow people blindly. Andrew’s takeawaysNever invest in something that somebody told you about. Don’t get caught up in the emotion of new investments. Actionable adviceSpend time, not money, before you invest. First, take your time to research the investment. No.1 goal for the next 12 monthsVijay’s number one goal for the next 12 months is to go out there, educate more people about the NFT space, and be a good father. Parting words  “Thanks, Andrew. You’re saving a lot of people from getting screwed up or getting lost.”Vijay Pravin Maharajan  [spp-transcript]   Connect with Vijay Pravin Maharajan https://www.linkedin.com/in/vijaypravin/ (LinkedIn) https://twitter.com/VijayPravinM (Twitter) https://www.facebook.com/VijayPravin.Maharajan (Facebook) https://www.youtube.com/c/VijayPravin (YouTube) https://www.instagram.com/vijaypravin_official/ (Instagram) https://unleashnfts.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Sep 22, 2022
Taimur Baig - Don’t Let the Upsides Distract You From the Downsides
40:30
BIO: Taimur Baig heads global economics and macro strategy for interest rate, credit, and currency at DBS Group Research. STORY: Taimur invested in his friend’s hedge fund that was dealing with Iraqi stocks. He lost 50% of his investment after the country entered a war three years later. LEARNING: Don’t get swayed by the upside and forget about the downside. Always analyze the risks, especially when the deal seems too good.   “Don’t get swayed by greed and the potential upside, and forget about the downsides.”Taimur Baig  Guest profilehttps://www.linkedin.com/in/taimur-baig-7644335/ (Taimur Baig) heads global economics as well as macro strategy for interest rate, credit, and currency at DBS Group Research. He is a Director Fellow at the Asian Financial Think Tank and a council member of the Economic Society of Singapore. Before joining DBS in 2017, Taimur was a Principal Economist at the Economic Policy Group, Monetary Authority of Singapore. Earlier, he spent nine years at Deutsche Bank, where his last position was Managing Director and Chief Economist, Asia. During 1999-2007, Taimur was based in Washington, DC, at the headquarters of the International Monetary Fund, where his last position was Senior Economist. He is the host of the https://omny.fm/shows/econstrategy/playlists/kopi-time-e21-ifc-s-vivek-pathak-on-investing-in-e (Kopi Time Podcast). Worst investment everIn 2012, Taimur’s friend—a Wall Street success story—who ran a hedge fund was pivoting to geopolitical bets. The idea was to invest in stocks in countries just recovering from war. Taimur was impressed by his success in the 2000s and had a lot of respect for him. So he started following the setting up of this fund. The fund’s first investment idea was Iraq. The country had had 10 years of massive conflict. But after a decade of death and destruction, the country was coming together, and there was some peace in place. There was huge potential for the US Iraqi stock market to make an earnings growth of about 40% a year. This was the mother of all bull markets to latch on to. Taimur had little understanding of the institutional nature of the Iraqi capital market. Still, he trusted his friend, who had made trips around Baghdad with US Marines and talked to entrepreneurs and the people who were to set up and run the new Iraqi stock exchange. It all seemed very good. The fund launched in 2012, and Taimur invested in it. By the end of 2013, things were going really well, and the value of the investment was growing steadily. Then the insurgency began, and the following years got terrible in terms of security, as well as deep disappointment in the Iraqi government’s ability to channel oil resources to support Iraq’s economic rejuvenation. In 2016, Taimur’s friend called him from New York and informed him that he would shut the fund down. He said he’d pay Taimur 50% of his investment in that fund. Lessons learnedDon’t get swayed by greed and the potential upside, and forget about the downsides. Be careful when investing with friends. You don’t have to reach for the stars and be super greedy when investing. Andrew’s takeawaysJust because something sounds cool doesn’t mean it’s gonna be cool. No matter how exciting an investment opportunity is, don’t get too excited and forget to analyze the risks. Actionable adviceGetting into an illiquid investment is a bad idea for the average investor. Investing in liquid things is far more preferable. No.1 goal for the next 12 monthsTaimur’s number one goal for the next 12 months is to be a faster runner. He also wants to solve the six sides of the Rubik’s Cube a little faster. Parting words  “Just keep listening to My Worst Investment Ever. It’s an awesome podcast.” Taimur Baig   [spp-transcript]   Connect with Taimur Baig https://www.linkedin.com/in/taimur-baig-7644335/ (LinkedIn) https://twitter.com/taimurbaigdbs (Twitter)...
Sep 20, 2022
Jem Bourouh – Know What You Want to Do and Who You’re Doing It For
35:56
BIO: Jem Bourouh is 24 years old and a serial entrepreneur from Germany. With his Google Ads agency Adcubator, Jem and his team have spent more than $318 million profitably. STORY: Jem’s worst investment ever was enrolling for a Bachelor’s degree without thinking clearly about what he wanted to do with his life after university. This saw him try out many things that failed due to a lack of proper focus. He is yet to finish his degree. LEARNING: XXX   “Don’t pursue something you’re genuinely unhappy with just because you think it’s something you need, or you think society will like it.”Jem Bourouh Guest profilehttps://www.linkedin.com/in/jem-bourouh/ (Jem Bourouh) is 24 years old and a serial entrepreneur from Germany. With his Google Ads agency Adcubator, Jem and his team have spent more than $318 million profitably. After being in the direct-to-consumer space for more than 4 years, he’s decided to bootstrap his own e-commerce brands and invest in and acquire other businesses such as marketing agencies and e-commerce brands. Worst investment everJem’s worst investment ever was enrolling for a Bachelor’s degree without thinking clearly about what he wanted to do with his life after university. This saw him try out a myriad of things that failed due to a lack of proper focus. His dream was to be a millionaire; he just didn’t know how to become one. So while studying, he started doing different jobs and even tried to learn internet marketing. Jem started his first dropshipping venture and failed miserably after three months. After this, he changed universities and moved to a new city. Jem is still enrolled at this university and is yet to finish his degree. Lessons learnedFirst, understand what you want to do and for who you’re doing it. Always strive for greatness in life. Andrew’s takeawaysFocus on the journey to get to the goal. Follow one course until success. Maybe it’s worth returning to that thing you’re very close to completing, but you put it aside for various valid reasons. Actionable adviceIf there’s something that you don’t enjoy and are genuinely unhappy with, then there is no point in pursuing that path just because you think it’s something you need or you think society will like it. No.1 goal for the next 12 monthsJem’s number one goal for the next 12 months is to grow his company, https://www.ecom-incubator.com/home1630555565163 (eCom Incubator), and train more people. Parting words  “Don’t stop; you’ve got this. Believe in yourself, and don’t ever quit. Just pursue what you want to do with intimacy, and you’ll make it. You’re gonna be happy no matter what.”Jem Bourouh  [spp-transcript]   Connect with Jem Bourouh https://www.linkedin.com/in/jem-bourouh/ (LinkedIn) https://www.facebook.com/jembourouh/ (Facebook) https://twitter.com/JemBourouhDE (Twitter) https://www.instagram.com/jembourouh/ (Instagram) https://www.youtube.com/c/JemBourouh (YouTube) https://www.jembourouh.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Sep 18, 2022
John Lawson – Turn Your Pain Into Motivation to Make a Change
27:34
BIO: John Lawson is an award-winning entrepreneur and best-selling author. His entrepreneurial spirit helped him achieve a level of success that few obtain. STORY: A friend convinced John to buy a house and flip it. He took a loan and got into the project. The friend was in charge of the renovations and made changes, which reduced the home’s value and made it impossible to sell for a profit. John was stuck with the home for eight years. LEARNING: Never depend on other people to watch your money. Monitor your investment consistently.   “Never depend on other people to watch your money.”John Lawson  Guest profilehttps://www.linkedin.com/in/colderice/ (John Lawson) is an award-winning entrepreneur and best-selling author. His entrepreneurial spirit helped him achieve a level of success that few obtain. After consulting Fortune 100 companies at Accenture, he took his expertise to the world of small business, today mentoring entrepreneurs on topics such as social commerce, online marketing tactics, and e-commerce strategies. John is a small business power player listed as one of the Top 50 SMB Influencers by All Business. Recognized for his work in e-commerce, John received two Small Business Influencer awards from SmallBusinessTrends.com and won “Business Book of The Year” for his book “https://amzn.to/3DuyhBO (Kick Ass Social Commerce for E-prenuers.)” Worst investment everAround 2000, John worked in consultancy, making a decent salary. A friend suggested to him that they start flipping houses. The idea was for John to finance the project and the friend to oversee it, then split the profit 50/50. The house was in a bad neighborhood in Georgia but close to the city. Some gentrification plans were going on where the whole neighborhood would be turned into a more livable area. John took a loan to buy and repair the house. The loan terms were that he would pay it back after three months. From his calculations, this would be enough time to flip and sell the house. So John signed the paperwork, and work started. He was still working full time, so he couldn’t follow up with the project in person. John visited the house a few days before selling, and everything looked good. But he noticed they had turned the three-bedroom home into a two-bedroom one. This change reduced the house’s value, and now it was going to be hard to make any money back and pay the loan. John got a 30-day extension from the bank but had to come up with $21,000. There was no way he would make that kind of money from the house that had just been turned into a two-bedroom. John started looking for other ways to make money. A friend told him about eBay, where he sold old programming books and made some money. He ran out of books and needed more ways to make money. John read in a Sunday morning newspaper about getting free inkjet printers after a rebate. He went on a mission to collect as many free printers as possible. John would then sell the printers and the ink cartridges separately on eBay. He then got into selling Tickle Me Elmo dolls and made enough money to pay off his loan, but he was still stuck with the house. He only managed to sell it off eight years later. Lessons learnedNever depend on other people to watch your money. No matter what you’re experiencing, just persevere. That pressure will make you stronger. Andrew’s takeawaysTurn your pain into motivation to make a change. Don’t just start a partnership with someone you don’t trust yet. Monitor your investment consistently. Otherwise, it could go south pretty quickly. Actionable adviceBe careful with real estate. Understand what you’re getting into because real estate will bind you for many years. John’s recommended resourcesFeeling overwhelmed and want to get your time back? Get his FREE https://www.prospeakerfunnels.com/Free_VA_Report?r_done=1 (How To Hire a VA) guide. No.1 goal for the next 12 monthsJohn’s number one goal for the next 12 months is to go to Thailand...
Sep 15, 2022
Keith Johns – Don’t Let FOMO Push You into Investments
21:23
BIO: Keith Johns helps corporate leaders who are feeling stuck in their 9-5 break free from corporate by building and scaling a purpose-driven business. STORY: Keith came across two Facebook marketing programs and bought them for five figures because he didn’t want to miss out. He only had time to implement one of the programs. He is yet to implement the second one to date. LEARNING: Don’t let the fear of missing out (FOMO) push you to do something before you’re ready. Don’t let emotions or flawed thinking affect your investment decision.   “Pay attention to your emotional state when investing.”Keith Johns  Guest profilehttps://www.linkedin.com/in/keithjohns/ (Keith Johns) helps corporate leaders who are feeling stuck in their 9-5 break free from corporate by building and scaling a purpose-driven business. Keith believes you’re not crazy for wanting more, and you can have more purpose, freedom, income, and free time in your work. Worst investment everKeith quit his job to start a coaching business. When he was ready to diversify where he marketed his services, he invested in two Facebook marketing programs. Keith bought the two programs for five figures. It was only after he paid for the programs that he realized he had made an emotional decision out of fear of being left out. Now he didn’t have the time to integrate two Facebook systems simultaneously. One program is still lying somewhere on the back burner, unimplemented. Lessons learnedPay attention to your emotional state when investing. Before you invest, have a plan. Consider talking to someone with more experience who can help you navigate those waters more successfully. Don’t be in a hurry to invest in anything you don’t understand. There will always be plenty of entry opportunities at different moments. Don’t let the fear of missing out (FOMO) push you to do something before you’re ready. Andrew’s takeawaysDon’t let emotions or flawed thinking affect your investment decision. Actionable adviceThe minute you’re inspired, have an idea, or are excited about something, share that excitement so somebody else knows what you’re up to. Keith’s recommended resourcesRead https://amzn.to/3eL2oe4 (Questions Are the Answer: A Breakthrough Approach to Your Most Vexing Problems at Work and in Life) more at ease and more comfortable knowing I don’t have to have all the answers, but I could be the most effective person in the room if I listen better and ask better questions. No.1 goal for the next 12 monthsKeith’s number one goal for the next 12 months is to take his business, get it running and then leave other people to run it so he can have time to do other things. Parting words  “I really appreciate the time. If anyone’s interested in contacting me, I’m on LinkedIn, reach out and say hi; I’d love to have a conversation.”Keith Johns  [/spp-transcript]   Connect with Keith Johns https://www.linkedin.com/in/keithjohns/ (LinkedIn) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform...
Sep 13, 2022
Nick Karadza – Learn How to Identify and Solve Problems
23:20
BIO: Nick Karadza and his brother Tom quit their jobs in the software industry to start Rock Star Real Estate. The company has over 60 people and works with thousands of clients who have purchased billions of dollars in income property across Ontario. STORY: Nick bought his first fixer-upper property when he was 21. What he thought would be a quick-fixing job turned out to be much more work than he had anticipated. After much hard work, he sold the property and made a negligible profit. LEARNING: Understand the real estate market before you invest in it.   “Whoever handles the most crap wins.”Nick Karadza  Guest profileNick Karadza was buying rental properties around the Greater Toronto Area. He couldn’t find anyone to help him find the data he needed to make educated decisions about local investment property. Together with his brother Tom, they quit their jobs in the software industry to start http://www.rockstarbrokerage.com/meet-the-team/ (Rock Star Real Estate). What began as two brothers working out of a closet with zero clients has turned into a team of over 60 people, working with thousands of clients, who have now purchased billions of dollars in income property all across Ontario. They have authored https://rockstarinnercircle.com/books/ (three books), host a growing https://rockstarinnercircle.com/podcast/ (podcast), and run an educational membership program with over 1,000 clients, and 22 different instructors lead classes. The entire purpose of Rock Star Real Estate is to help Canadians build and buy assets that will help them live life on their own terms. Worst investment everNick bought his first property when he was 21. He believed it would be a straightforward process where he’d buy the property, fix it, sell and make his money. Well, it was a lot more work than Nick had anticipated. He was working full-time at the time, so he had to wake up early in the morning and work late at night fixing the property. Nick put in long hours fixing the property and then sold it and made a profit of $4,000. The overall return investment was negligible for the amount of work and time Nick put into that property. Lessons learnedHave a great understanding of the real estate market segments before you start investing. You’ll have bigger opportunities if you stop worrying about the little stuff and level yourself up to more significant problems. Hands-on investment experience allows you to grow as a person, and the skills you gain open new doors for you. People want to grow their network with people that can identify and solve problems. Andrew’s takeawaysYou’ll find many opportunities when you learn to identify problems and solve them. Actionable adviceLook for more information to get a little bit more of an understanding before you get into real estate. Nick’s recommended resourcesGrab Nick’s https://rockstarinnercircle.com/books/ (free books) that cover Canadian real estate. No.1 goal for the next 12 monthsNick’s number one goal for the next 12 months is to find bigger problems, turn them into opportunities and see where that takes his company. Parting words  “Andrew, I think what you’re doing is great, and if anyone’s listening, opportunities are always out there. Just go grab them.”Nick Karadza  [spp-transcript]   Connect with Nick Karadzahttps://www.facebook.com/RockStarInnerCircle/ (Facebook) https://rockstarinnercircle.com/podcast/ (Podcast) https://www.youtube.com/user/rockstarinnercircle (YouTube) https://rockstarinnercircle.com/ (Website) https://rockstarinnercircle.com/books/ (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master
Sep 11, 2022
Miguel Rodriguez – Protect Your IP Before Pitching Your Idea
22:33
BIO: Miguel Rodriguez is the CEO of the US Presidential Service Center. He has retired from an outstanding US government career and is currently a facilitator with the George Washington University Graduate School of Political Management Program. STORY: Miguel was actively involved in developing government contracting with companies. Some of these companies would take his ideas and start side projects without his knowledge. This led him to learn the importance of protecting his intellectual properties the hard way. LEARNING: Always have an NDA with you before pitching your ideas. Get compensated for your intellectual property.   “Protect your intellectual property right from day one when entering any business transaction.”Miguel Rodriguez  Guest profilehttps://www.linkedin.com/in/miguel-rodriguez-ph-d-23b2a933/ (Miguel Rodriguez) is the CEO of the https://theinnofthepatriots.com/the-uspsc (US Presidential Service Center). He has retired from an outstanding US government career and is currently with the https://www.gwu.edu/ (George Washington University Graduate School of Political Management Program) as a facilitator. Worst investment everMiguel was actively involved in developing government contracting with companies. He didn’t realize for a very long time that in the course of this consulting, he was exposing his intellectual properties to the companies he was working with. Some of these companies would take his ideas and start their own projects on the side without acknowledging Miguel as the owner of these ideas. It wasn’t until he learned just how much he was losing that Miguel started copywriting his intellectual properties. Lessons learnedWhenever you engage in any business discussion where you’re presenting your ideas or works, ensure everyone involved signs an NDA that protects intellectual property from going beyond that discussion. If there’s a need for anyone to own your intellectual property, ensure that you receive a monetary return from that. Andrew’s takeawaysBe careful when bidding for a massive project. Don’t let the excitement make you do anything to get it because you may lose something in the process and still not land the project. Actionable adviceProtect your intellectual property right from day one when entering any business transaction. Before you give your pitch, let everyone know your deliverables and how you expect to be paid. No.1 goal for the next 12 monthsMiguel’s number one goal for the next 12 months is to develop strong relationships with other companies worldwide that will work together to build jobs and address food shortages in Africa and Latin America. Parting words  “Don’t be discouraged by failure because it’s in failure that we learn. So take that failure and keep moving forward.”Miguel Rodriguez  [spp-transcript]   Connect with Miguel Rodriguez https://www.linkedin.com/in/miguel-rodriguez-ph-d-23b2a933/ (LinkedIn) https://theinnofthepatriots.com/the-uspsc (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Sep 08, 2022
Sahil Vaidya – Wear an Attitude of Gratitude
24:24
BIO: Sahil Vaidya co-founded The Minimalist in 2015, one of India’s fastest-growing creative solutions companies. In 2019, Sahil was featured in the Forbes 30 Under 30 Asia list. STORY: Sahil’s worst investment was investing too much time chasing dopamine hits. LEARNING: Incorporate gratitude in your life. Don’t be fooled by the shiny object syndrome.   “Gratitude is really underrated.”Sahil Vaidya Guest profilehttps://www.linkedin.com/in/sahil-vaidya-59592043/ (Sahil Vaidya) is the co-founder of https://www.theminimalist.in/ (The Minimalist), one of India’s fastest-growing creative solutions companies. An engineering graduate from IIT Bombay, Sahil co-founded the company during his final year in 2015. Marshaling a crew of over 170+ creative minds, Sahil wakes up every day with a single-minded focus: to turn The Minimalist into India’s most inventive company in the creative business. In 2019, Sahil was featured in the prestigious Forbes 30 Under 30 Asia list. He has also been the driving force behind the company’s growth, which resulted in The Minimalist being featured in LinkedIn India’s Top 25 Startups List (2018). In 2021, Sahil and Chirag launched their book https://amzn.to/3BeIEav (Think Like The Minimalist), which is a short read on their unique IP of Minimalist Thinking. Filled with detailed techniques, examples, and anecdotes, the book is a potent tool for design, marketing, and branding students, practitioners as well as leaders to master the art and science of thought-provoking design. Worst investment everSahil’s worst investment was investing too much time chasing dopamine hits. When he started his business, it was an instant success. He received a lot of accolades, awards, and recognition. Sahil thoroughly enjoyed that attention and high. He desired to cultivate a bigger external image. Sahil started chasing things like better looks, more fame, better relationships, and a much bigger company. It took a lot of time for Sahil to realize that the stuff he was after wasn’t really important. Lessons learnedIncorporate gratitude in your life. Write down a list of all the things you’re grateful for every day. That external high you’re chasing will never be enough, so pursue meaningful things. Andrew’s takeawaysDon’t be fooled by the shiny object syndrome. Follow one course until successful. PR doesn’t generate revenue. Go over your financial statements monthly. Wear an attitude of gratitude. Actionable adviceStart meditating as soon as possible. No.1 goal for the next 12 monthsSahil’s number one goal for the next 12 months is to do a lot of inventive work for his clients so that his company is known as the company that does unique, unconventional, innovative work. Parting words  “It’s been a fantastic opportunity to be a guest here. I hope the audience constantly incorporates the learnings they get from these sessions and become better versions of themselves.”Sahil Vaidya  [spp-transcript]   Connect with Sahil Vaidya https://www.linkedin.com/in/sahil-vaidya-59592043/ (LinkedIn) https://twitter.com/SahilV93 (Twitter) https://www.theminimalist.in/ (Website) https://amzn.to/3BeIEav (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple)...
Sep 06, 2022
Tony Whatley – Just Walk Away
29:19
BIO: Tony Whatley is an entrepreneur, business mentor, best-selling author, podcast host, and speaker. STORY: An unplanned pregnancy saw Tony stay in a bad relationship that worsened daily and threw him into depression. LEARNING: Don’t be afraid to walk away from a bad situation. Always know your self-worth.   “Walking away is probably the hardest decision you’ll make. But it’s also probably the best decision.”Tony Whatley Guest profilehttps://www.linkedin.com/in/tonywhatley/ (Tony Whatley) is an entrepreneur, business mentor, best-selling author, podcast host, and speaker. He is best known as Co-Founder of LS1Tech, an online automotive community that grew into the largest of its kind. This website grew to over 300,000 registered members and was later sold for millions in only 5 years. Amazingly… it was just his part-time business! Tony shares his mindset and business strategies within his book, https://amzn.to/3Beil5j (Sidehustle Millionaire). He also teaches entrepreneurs how to start, scale, and sell their businesses within his podcast and consulting brand https://365driven.com/podcast/ (365 Driven). Worst investment everTwo years out of college, Tony was working an entry-level engineering job. He decided to move closer to downtown Houston and just do what single dudes do—party and live the youth of their 20s. Tony met a woman during all the partying, and an unplanned pregnancy happened. They decided the right thing to do was to keep and raise the child together. Tony had an apartment lease that he couldn’t break, so he moved in with the woman and paid both rents. Soon enough, the two realized they weren’t meant to be in a relationship. The connection just wasn’t there. But they just stuck it out because they didn’t want to disappoint their parents. In no time, Tony started to spiral down and got into a depressive state, but he hung around for another six months after his son was born. The relationship kept getting toxic, and finally, one of the arguments escalated to the point where she told Tony to leave. He took that as a sign, packed up what little he had, got the cheapest place he could afford, and restarted his life. Lessons learnedKnow your self-worth. Never be afraid to walk away from a bad relationship. Don’t let the fear of being judged keep you in a bad relationship. Andrew’s takeawaysStop escalating your problems. Just walk away because the situation just gets worse. Be a role model to your kids. Actionable adviceIf you’re going to get in a relationship with somebody, ask yourself if this person will bring you energy or if they’ll just rob your energy. Tony’s recommended resourcesListen to Tony’s https://365driven.com/podcast/ (The 365 Driven Podcast), which features successful people doing incredible things worldwide. The guests share advice, strategies, and tips on how to improve your life daily. No.1 goal for the next 12 monthsTony’s number one goal for the next 12 months is to finish writing his second book—a philosophical guide to living and excelling. Parting words  “No matter how bad you think your situation is, focus on the things that are actually within your control, and release the stress and anxiety around things that are beyond your control because those are going to happen either way.”Tony Whatley  [spp-transcript]   Connect with Tony Whatleyhttps://www.linkedin.com/in/tonywhatley/ (LinkedIn) https://www.instagram.com/365driven/ (Instagram) https://www.facebook.com/tony.whatley.1 (Facebook) https://365driven.com/ (Website) https://amzn.to/3Beil5j (Book) https://365driven.com/podcast/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online...
Sep 04, 2022
Vitaliy Katsenelson – Be Willing to Endure Short Term Pain for Long Term Gain
30:45
BIO: Vitaliy has written two books on investing and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” STORY: Vitaliy bought stocks in a company that had been named the worst company ever. He bought the stock at $16, it went to $10, and then up to $26. Vitaliy sold, and this is a decision that he regrets. Today, the stock is at $120. LEARNING: Be willing to endure short-term pain for long-term gain. Don’t stop researching. Use stop losses to exit bad investments.   “Don’t shrink your investment time horizon.”Vitaliy Katsenelson  Guest profilehttps://www.linkedin.com/in/katsenelson/ (Vitaliy Katsenelson) was born in Murmansk, USSR, and immigrated to the United States with his family in 1991. After joining Denver-based value investment firm IMA in 1997, Vitaliy became Chief Investment Officer in 2007 and CEO in 2012. Vitaliy has written https://amzn.to/3KA73v4 (two books on investing) and is an award-winning writer. Known for his uncommon common sense, Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor and Foreign Policy. His articles are also published on his website, https://contrarianedge.com/ (ContrarianEdge), and in audio format on his https://investor.fm/ (Intellectual Investor Podcast). Vitaliy lives in Denver with his wife and three kids, where he loves to read, listen to classical music, play chess, and write about life, investing, and music. https://amzn.to/3THwAa6 (Soul in the Game) is his third book and first noninvesting book. Worst investment everTen years ago, Vitaliy invested in Electronic Arts (EA), a gaming company. At the time, the company had been named by Consumerist magazine as the worst company ever. The company spent 500 million dollars on a Star Wars game that flopped. When Vitaliy was buying the stock, a couple of things were happening. People were transitioning from purchasing games at the store to downloading games. Smartphones were becoming a significant market for video games. With this in mind, Vitaliy figured the gaming market was about to become much more extensive; therefore, EA’s profitability would skyrocket. So he bought the stock at $16 despite the negative valuation. The following year the stock went to $10. Vitaliy was frustrated. Then over the next year, the stock went up to $26. He was over the moon. He had just doubled his money. Vitaliy decided to sell because he was just so exhausted from owning the stock. This is a decision that he regrets. Today, the stock is at $120. Lessons learnedWhen investing, you have to be willing to endure short-term pain for long-term gain. Go in with your eyes open. Don’t shrink your investment time horizon. Precondition yourself through the negative realization that stocks can decline 30-50% so that it doesn’t hurt as much when it happens. Don’t stop doing research. Andrew’s takeawaysUse stop losses to exit a poorly performing stock, then reenter that position later when you feel the timing is better. Actionable adviceWhen picking a stock, consider the company’s earnings power for the next three, four, or five years. Vitaliy’s recommended resourcesDownload https://contrarianedge.com/the-6-commandments-of-value-investing/ (The Six Commandments of Value Investing) for FREE to learn the principles behind the investing approach popularized by Warren Buffett and how you can apply them in the real world. Listen to his https://investor.fm/ (Intellectual Investor Podcast) for the best investing tips. No.1 goal for the next 12 monthsVitaliy’s number one goal in life is just to wake up every day and live every day as if it was his last day and simply have a healthy, happy day. Parting words  “Let’s enjoy life and prosper.”Vitaliy Katsenelson  [spp-transcript]   Connect with Vitaliy Katsenelson https://www.linkedin.com/in/katsenelson/ (LinkedIn)...
Sep 01, 2022
Marylen Ramos-Velasco – Strike a Balance Between Taking Care of Yourself and Others
18:28
BIO: Marylen Ramos-Velasco is the Founder and CEO of Customized Training Solutions (CTS) Pte. Ltd. – “Asia’s Most Trusted Customized Solutions Provider.” STORY: Marylen spent her life doing too much for people who didn’t deserve her time and effort at the expense of her health. She started taking better care of herself and creating boundaries when she suffered several gastritis attacks. LEARNING: Strike a balance between taking care of yourself and others. Prioritize self-love and self-care. Always think about your value.   “Every one of us needs balance.”Marylen Ramos-Velasco  Guest profilehttps://www.linkedin.com/in/marylen-ramos-velasco/ (Marylen Ramos-Velasco) is the Founder and CEO of https://www.ctsolutionsglobal.com/ (Customized Training Solutions (CTS) Pte. Ltd). – “Asia’s Most Trusted Customized Solutions Provider.” She has 15 years of experience in sales & marketing, customer service, events management, and operations in the hospitality industry. Since moving to Singapore, she has worked in event services focused on specialized training and summits. With her gift of leadership and strength in partnership to drive clarity and change, she is living her purpose to make life easier for others. Her solutions include but are not limited to training, coaching, and consulting for leaders and organizations. While she helps trainers, coaches, speakers, and consultants with personal branding, sales, and marketing services. Worst investment everMarylen’s worst investment ever was doing too much for people who didn’t deserve her time and effort. She also tended to forget about herself and was poor at setting boundaries, which caused her a lot of burnout, stress, and even depression. As a result, she suffered several gastritis attacks and had to get a hospital procedure done. This was when Marylen realized she had forgotten about self-love and self-care. She had failed to invest in her body and soul. Lessons learnedYou cannot serve from an empty vessel. So take time to replenish your spirit so that you’re able to help others. Strike a balance between taking care of yourself and others. Prioritize self-love and self-care. Invest in the right people, and be sure to set boundaries. Andrew’s takeawaysSelf-care means taking care of yourself first. Always think about your value. Always put money down when working with an accountability partner for motivation and accountability. Actionable adviceInvest in your mind, body, and soul. Marylen’s recommended resourcesVisit https://www.ctsolutionsglobal.com/ (Customized Training Solutions) for various resources, including blogs, online resources, and upcoming programs to help you handle or create balance in your private and professional life. No.1 goal for the next 12 monthsMarylen’s number one goal for the next 12 months is to create more win-win-win outcomes for herself, her clients, and partners through the work she does around education, empowerment, and inspiration. Parting words  “Investing in yourself is the best investment you can ever make in your life. And continue to live with passion and purpose.”Marylen Ramos-Velasco  [spp-transcript]   Connect with Marylen Ramos-Velascohttps://www.linkedin.com/in/marylen-ramos-velasco/ (LinkedIn) https://twitter.com/MarylenRVelasco (Twitter) https://www.facebook.com/marylen.m.ramos (Facebook) https://www.youtube.com/channel/UCQP7oVbRYg7W-c-8mSvWIKQ (YouTube) https://www.ctsolutionsglobal.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor...
Aug 30, 2022
Ted Leverette – Buy Businesses That Have Fixable Problems
28:58
BIO: For more than 30 years, Ted Leverette, The Original Business Buyer Advocate, has been helping people worldwide find and buy the right businesses the right way. STORY: Ted bought a business for eight figures only to discover it was sinking in debt. LEARNING: Hire the right kind of advisors when buying a business. Do your due diligence and get to know how the business works before you buy it.   “No matter how naive you think a business owner is, his lawyer and accountant aren’t naive and will negotiate you into a bad deal.”Ted Leverette  Guest profileFor more than 30 years, https://www.linkedin.com/in/tedleverette/ (Ted Leverette), The Original Business Buyer Advocate, has been helping people worldwide find and buy the right businesses the right ways by training and assisting them through any or all of these phases: Preparation, targeting, search, due diligence, financing, valuing, negotiating, and transitioning into their acquisition or merger. Ted positions clients to be the 1st choice of brokers and sellers. And to complete more-profitable deals sooner with less aggravation at a lower cost. How? ACTIONABLE guidance. Read his how-to books (available on https://amzn.to/3Aug6Jx (Amazon)). And then let him help you deploy his proven best practices. Worst investment everTed bought a privately owned company for eight figures only to find out it was deep in debt. He lost a substantial amount of his investment in paying off this debt. The business had three operations: A consulting operation, 11 travel agencies, and a travel agent training school. The operator of this holding company knew the travel sector well. But he didn’t know about managing the holding company, which is what Ted was buying. He didn’t know anything about finance, so he delegated money matters to an inept accountant. When Ted asked this guy why he wanted to sell, he said it was because he had a different interest in another industry with bigger potential. Ted’s mistake was letting the seller’s lawyer do the purchase and sale agreement. He also relied on the company accountant, who had been pulling off shenanigans that left the company in debt. It took months after Ted got control of that company to negotiate with the unpaid vendors who wouldn’t perform without a payment plan. The amount the company owed these vendors was seven times larger than what was represented to him before he bought it. Ted paid the company’s debt liability for a whole year to untangle the mess. Lessons learnedSuccess does not always breed success. Sellers and their advisors won’t always tell buyers enough of what buyers need to know to make informed decisions about buying the company. When purchasing a business, hire the right kind of advisors, particularly lawyers and accountants who know what they’re doing. Don’t let buyer competition get you into a bad deal. Andrew’s takeawaysDo your due diligence, get into that business and understand what’s going on in detail before you buy it. Have professional advocates that are fighting for you. Get monthly financial statements that are on time and accurate. Doing so is a sign that your accounting system is in good shape. Actionable adviceDon’t be a do-it-yourself businessman. Lean on people who know what they’re doing. Read books on the topic from legitimate deal makers, and avoid the charlatans out there trying to sell advice to people buying businesses. So do your homework because no matter how naive you think a business owner is, chances are his lawyer and accountant are not that naive, and they’ll help negotiate with you, and you could end up in a bad deal. Ted’s recommended resourcesIf you’re looking for a business to buy and want to know how to start, read Ted’s book https://amzn.to/3TkXVi2 (How to Prepare Yourself and Find the Right Business to Buy). If you’re looking at a business for sale or you’ve already found it, https://amzn.to/3RhuzPP (How to Buy the Right Business the Right Way) has all the...
Aug 28, 2022
Jerome Myers – What Value Do You Bring to the Table?
25:42
BIO: Jerome Myers left corporate America because he realized that although he had many accomplishments, he had not gained significance because he was not leading a centered life. STORY: Jerome quit corporate America and went into real estate without any skills or experience in the industry. He missed a million-dollar investment because he had nothing to bring to the table. LEARNING: If you’re trying to figure out how to get something done, pay a person who’s already done it, who has a comprehensive system, to accelerate your learning process. Articulate the value you bring to a deal or an organization.   “Pay somebody who’s done what you’ve already done to help you do what you want to do.”Jerome Myers  Guest profilehttps://www.linkedin.com/in/jeromemyers/ (Jerome Myers) left corporate America because he realized that although he had many accomplishments, he had not gained significance because he was not leading a centered life. Now, as a leadership coach, he uses his personal journey and unique training method to guide other apex performers in leadership positions to face their toughest personal and professional challenges head-on. Worst investment everJerome exited corporate America and went into real estate full time. At the time, he didn’t know what he was doing. Jerome simply jumped on the loop net and found a deal, a 23-unit apartment building. He put his business plan together, took it to the bank, and asked for a million dollars to buy the building. The bank requested Jerome to show them a similar business plan he’d executed before. He didn’t have that. They went back and forth for a bit, and the bank told Jerome he needed a partner to qualify for the loan. Jerome didn’t have a partner, so he went to another bank. He was turned down, then another, and another. When I got to the 10th bank, he realized he didn’t know what he was doing. So Jerome went online and started listening to stuff and soon realized the project wouldn’t happen for him. So he pivoted and found a fix and flip house. He found a few more and worked on them. One day Jerome was sitting on the stoop of one of his properties when a guy pulled up. He was interested in checking out the house. The man went through the house, and as he walked out, he asked Jerome if he knew anything about a 23-unit apartment building. It was the same building Jerome was trying to buy. The man told him that he would make an offer on it. Jerome asked him not to leave him out of the deal. The man asked him what he was going to bring to the table. Jerome didn’t have anything. And that’s how he missed this opportunity for a second time. A week later, Jerome got a phone call from a guy he used to lend money to. The guy was a rehabber, had an opportunity as a general contractor on a project, and wanted to bring Jerome on board. Once Jerome started working on the project, he realized gaps in his knowledge. He didn’t know a lot because he decided to learn quickly on his own. He wasn’t implementing a cohesive system into the business he was beginning to build, which literally cost him hundreds of thousands of dollars and potentially over a million dollars. Lessons learnedIf you’re trying to figure out how to get something done, pay a person who’s already done it, who has a comprehensive system, to accelerate your learning process. Articulate the value you bring to a deal or an organization. If you can’t do that, you’re asking them to do charity. Andrew’s takeawaysAs a manager, you must implement a system to prevent your company from getting chaotic. If you don’t have money to pay a pro to teach you what you want to learn, work for someone or volunteer with someone in the area you want to learn and get that experience. Build a skill to generate value and have something to bring to the table. Actionable adviceBe clear about what you want. If you know what you want but don’t know how to get it, find the person who knows how to help you. Jerome’s recommended...
Aug 25, 2022
Eric Sim – Find a Buyer First Before You Buy Property
22:22
BIO: Eric Sim is the author of Small Actions: Leading Your Career To Big Success, giving 66 actionable tips to help one achieve career success. STORY: Eric bought a condo with the hopes of selling it at a higher price. Unfortunately, the government changed, affecting the demand for condos. Eric is yet to sell the property or rent it for income. LEARNING: Don’t let your past successes blind you when investing. Identify your buyer before you even buy that real estate.   “Never expect 100% of your investments to make money. Sometimes you lose, sometimes you win.”Eric Sim  Guest profilehttps://www.linkedin.com/in/simeric/ (Eric Sim) is the author of https://amzn.to/3dO0EQO (Small Actions: Leading Your Career To Big Success), giving 66 actionable tips to help one achieve career success. He is a successful banker, having worked with Citi in Singapore, Shanghai, and Hong Kong before joining UBS Investment Bank as a managing director. Worst investment everEric bought a massive piece of property north of Singapore. It was a 2,400-square foot home. It did well because demand was high. One year later, Eric decided to buy another property. The prices had gone up this time, and he paid a lot more for the second property. There had been plans to construct a high-speed rail from Singapore to Malaysia. This saw properties in Malaysia increase in demand. About three years later, the Malaysian government changed. The new government put the high-speed rail plans on hold. This saw property prices drop due to low demand and high supply. Eric tried to sell his property but couldn’t as there was no demand. He wanted to rent it out, but it was just not worth it because prepping the property to rent it out would cost 1-2 years of rental income. He is still holding onto the property. Lessons learnedDon’t let your past successes blind you when investing. Before you buy property, seriously think about the demand. Who will buy that property when you want to sell it one or two years later? Never expect 100% of your investments to make money. Sometimes you lose, sometimes you win, so don’t be too hard on yourself. Don’t let one lousy investment ruin your life. Andrew’s takeawaysSometimes investing in condos can be a trap where you just get into it because you’re excited and then get stuck in it because nobody will buy it. Identify your buyer before you even buy that real estate property. Actionable adviceDo your due diligence and make the correct type of comparison. List down the facts and be your own devil’s advocate. Eric’s recommended resourcesRead the https://amzn.to/3dO0EQO (Small Actions: Leading Your Career To Big Success) for 66 actionable tips to help you supercharge your career. No.1 goal for the next 12 monthsEric’s number one goal for the next 12 months is to use his money to create impact and to live a meaningful life. Parting words  “Think big. Start small. Act now.”Eric Sim  [spp-transcript]   Connect with Eric Sim https://www.linkedin.com/in/simeric/ (LinkedIn) https://amzn.to/3dO0EQO (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great
Aug 23, 2022
Direk Khanijou – Be Careful of the Dangers of Leverage
32:22
BIO: Direk Khanijou is a student of business and currently works with his family in the textile business in Bangkok, Thailand. He started his investment portfolio at 20 while studying at the University College London. STORY: Direk invested in a pharmaceutical company simply because it had some of the most respected hedge funds on the shareholder roster. He lost 94% on his investment less than two years later. LEARNING: Be careful of leverage and taking on too much debt. Don’t stray outside of your circle of competence when investing. Be cautious of endowment bias.   “Mistakes are great because that’s where the real learning happens.”Direk Khanijou   Guest profilehttps://www.linkedin.com/in/direkkhanijou/ (Direk Khanijou) is a student of business and currently works with his family in the textile business in Bangkok. He started his investment portfolio at the age of 20 while studying at the University College London. He looks to differentiate himself through hard work, voracious reading, and continuous learning. His objective is to compound capital at decent rates of returns without taking undue risk. You can learn more about him at https://www.rbxinvestments.com/ (RBX Investments). Worst investment everDirek invested in a pharmaceutical company despite having no experience or interest in that industry. He was impressed by the company’s incredibly complex business model. This company caught his eye because many brilliant people had invested in it. It had some of the most respected hedge funds on the shareholder roster. Owning it made Direk feel smart. Under the then CEO, the company relied on guile and aggressive accounting to increase its value. The CEO believed spending money to develop new drugs was inefficient and wasteful. So instead, the company borrowed money to acquire pharma companies, slashed its R&D, and jacked up the prices of life-saving drugs to offset volume declines. In 2017, the company raised the price of one particular drug from $13.50 to $750 per pill. This decision revealed everything that was wrong with the CEO’s business model. The stock collapsed, and the CEO was fired. Direk had invested in this company in October 2015 at $166 per share and sold his shares in March 2017 at about $10 per share. That’s a 94% loss on his capital. He had many chances to sell along the way, but he was just too stubborn, and his ego made him hold onto the losing stock for too long. Lessons learnedBe careful of leverage and taking on too much debt. When a business has a lot of debt, the focus of the management sometimes shifts from managing the business to managing the balance sheet. Be careful of endowment bias and learn to strike the right balance between holding onto your losers for too long and letting your winners run. Don’t stray outside of your circle of competence when investing. There are two ways to learn from mistakes. You can make mistakes and learn from them. Or you can learn vicariously from other people’s mistakes—which is much less painful. Direk, however, believes lessons stick better when you make a mistake yourself. Andrew’s takeawaysDo your research before investing, even when an intelligent, successful person recommends a particular investment vehicle. Leverage is the number one risk that a company faces because it takes away flexibility. Actionable adviceSubscribe to https://myworstinvestmentever.com/ (My Worst Investment Ever) podcast and listen to the many lifetimes’ worth of wisdom. Secondly, develop your own investment philosophy early on in life. Figure out what kind of an investor you want to be. Lastly, hang around people who are better than you; over time, you’ll drift in that direction. You don’t have to hang out with them physically. You can mentally hang out with them in books. Direk’s recommended resourcesRead https://amzn.to/3Cj2MtV (The Art of Learning: An Inner Journey to Optimal Performance) by Josh Waitzkin to learn about his learning principles...
Aug 21, 2022
Adam Carroll – Never Buy a Home at an Auction
28:26
BIO: Adam Carroll has decades of experience working with families and business owners interested in creating massive efficiencies in their income and wealth-building capacity. STORY: Adam bought a home in an auction without seeing it first and had to sink in more money to restore it than he made from selling it. LEARNING: Never buy a home without doing your research first. Never make an investment decision under pressure.   “There’s a big difference between taking a calculated risk and being risky.”Adam Carroll  Guest profilehttps://www.linkedin.com/in/adamcarrollspeaks/ (Adam Carroll) has decades of experience working with families and business owners interested in creating massive efficiencies in their income and wealth-building capacity. He is an internationally recognized financial literacy expert, author of three Amazon best-sellers, and a two-time TED talk speaker with over 6 million views on https://www.youtube.com/playlist?list=PLMgQl1Ucr_wlBekdoXVu85Qwwt0N6E5Bh (YouTube) and TED.com. Adam is the host of the https://www.buildabiggerlife.com/ (Build A Bigger Life) podcast, the curator of https://www.masteryofmoney.com/ (MasteryOfMoney.com), and the founder of https://www.theshredmethod.com/ (The Shred Method™). Worst investment everIn his late 20s, Adam realized he badly wanted to be in real estate. He had already procured a single-family home and turned it into a rental after he couldn’t sell it. That worked out very well for him. Adam later bought a duplex with his father. Which also turned out to be a fairly sound investment. And so he was on a roll and decided to go for a third property. Adam went to an auction of a home in this small community near where he lived. His plan was to see what the auction would be like, not knowing that he would ultimately get swept into the bidding process. Hearing people make comments about the value and the assessed value and how much money one could make on this property made Adam interested in bidding. And just like that, he became the highest bidder and the new homeowner. Adam later found out that the house he bought had water damage, a hot tub full of mold, and many other small damages that turned the home into a money pit. He put in so much money into restoring the house and spent the next six years trying to find tenants. He eventually sold it but never made a return on that investment. Lessons learnedLeverage is one thing, and risk is something else entirely. Therefore, there is a big difference between taking a calculated risk and being risky. When getting into real estate, go in prepared. The bigger the home, sometimes the bigger the challenges. So if you’re new to real estate, start small. When push comes to shove, you can do a lot when you challenge yourself to do it. Andrew’s takeawaysDo your research and ensure that you separate your research on returns from the research you do on risk. Never make an investment decision under pressure. Be careful of early success. If you’re experiencing early success, work harder to reduce risk and protect your wealth. When you find people who can mentor you, listen to them. Actionable adviceSurround yourself with people who have been there and done that, who can advise you on when to pull the trigger and when not to. Adam’s recommended resourcesCheck out https://www.theshredmethod.com/ (The Shred Method™) to learn how to optimize your income, eliminate debt, reduce risk and create wealth with the money that you save. Parting words  “Life is what we’re here for. A lifestyle is just stuff we use to show off. So build a bigger life, not a bigger lifestyle.”Adam Carroll  [spp-transcript]   Connect with Adam Carrollhttps://www.linkedin.com/in/adamcarrollspeaks/ (LinkedIn) https://twitter.com/AdamCarroll (Twitter) https://www.facebook.com/groups/839916369747674 (Facebook) https://www.instagram.com/adam.carroll/ (Instagram) https://www.buildabiggerlife.com/ (Podcast)...
Aug 18, 2022
Ralph Burns – Create Value First, Then Sell
50:31
BIO: Ralph Burns is the Founder and CEO of Tier 11, a digital marketing agency that utilizes a proprietary system called Customer Acquisition Amplification™ to unlock the online potential of purpose-driven businesses to help them scale and grow. STORY: Ralph spent $30,000 to build a membership site and got over 10,000 email subscribers, but only two people paid when he launched the site. LEARNING: Do your research. Create a minimum viable product first to test the market.   “All the traffic in the world doesn’t matter if your offer sucks. You have to have something that people will want to buy.”Ralph Burns  Guest profilehttps://www.linkedin.com/in/ralphburns/ (Ralph Burns) is the Founder and CEO of https://tiereleven.com/ (Tier 11), a digital marketing agency that utilizes a proprietary system called Customer Acquisition Amplification™ to unlock the online potential of purpose-driven businesses to help them scale and grow. Ralph’s 100% virtual agency, with people in 30+ countries and 6 continents, manages a portfolio of social media advertising customer accounts in over 57 industries with an annual spend in excess of $100 million. His podcast, https://perpetualtraffic.com/ (Perpetual Traffic), has been downloaded well over 8 million times and has helped tens of thousands of people grow their businesses through online traffic and conversion strategies. Ralph splits his time between Boston and Cape Cod, Massachusetts, with his wife and two college-aged sons. Ralph Burns’s digital marketing top tipsBefore we get down to Ralph’s worst investment ever, let’s first tap into some of his nuggets of wisdom on successful digital marketing. Selling a product/service onlineAccording to Ralph, when trying to sell something online, you should first find the customers because you launch your product or service. The best way to do this is to give potential customers something of value in exchange for their contact information or even their time. This is what Ralph refers to as a transitional lead magnet. In essence, this isn’t what you want them to buy, but something free and of very high value that they get in exchange for their name and email. Leverage the hero’s journeyRalph says that you should remember that you’re customers’ guide. Understand your ideal customer’s most significant problem standing in the way of achieving their goals and help them solve this problem. Once you do that, you become the trusted adviser who will help them get to the promised land. According to Ralph, walking your customers through the hero’s journey is important because, typically, people don’t want to buy from strangers. So give them something of value to transition from a stranger and build trust. Then you can put them on a drip campaign that’ll maybe subtly give them even more information and then ask them to make a purchase. Advertising on FacebookRalph believes that Facebook is still a valuable platform for businesses, but for success, you need to connect with your avatar. Understand their biggest problem, then hit them right between the eyes with a message that resonates with them, and they stop the scroll. How much to pay to acquire a customerWhen it comes to advertising on Facebook, the right price point for acquiring a new customer, according to Ralph, depends on many factors. What’s critical is understanding what the economics are and implementing a sales funnel. Worst investment everRalph worked as a regional director at a big diagnostic company in the medical field. He had all the trappings of success, but he was miserable. Ralph had received https://amzn.to/3w5Vups (The 4-Hour Workweek) as a gift from his wife. He read the book and realized people were actually making money online. Ralph was fascinated by the internet and the idea of making money. He started a website, followed the book’s advice, and listened to many podcasts. Ralph built an extensive list of 10,000 email subscribers and, in the process, racked up about...
Aug 14, 2022
Tony Pawlak – Stop Trying to Get Rich Overnight
31:55
BIO: Tony Pawlak is a full-time stock trader and options instructor at Real Life Trading. It’s his life mission to help others face their fears and live their dreams. STORY: Tony lost almost $100,000 in trading. More than half of this was bank loans and credit card limits. LEARNING: If you view the markets as a get-rich-quick method, it will burn you. Assess risk before you go in and manage it when sizing your position.   “Stop trying to get rich overnight, and invest in yourself.”Tony Pawlak  Guest profileTony Pawlak is a full-time stock trader and options instructor at https://www.reallifetrading.com/tonypawlak (Real Life Trading). It’s his life mission to help others face their fears and live their dreams. Worst investment everTony ran a trucking company for years, spending 60 to 80 hours weekly. After eight years in the family business, he was out of shape, miserable, depressed, and felt he was wasting his life. Tony had a feeling that he should go into trading. So for a year or two, he would listen to podcasts and try to learn as much as he could. Finally, he felt the time was right to quit the job and go to trade full time. Tony started with a $30,000 trading account and believed he’d turn it into $500,000 in just a couple of months. In just a month, Tony had blown the $30,000. He had $20,000 set aside to pay bills for a couple of months. He took that out and put it in his trading account. That amount lasted another three weeks until it dwindled down to about a couple of thousands. Tony went to the bank, took a $20,000 loan, and put it into his trading account. That loan lasted another month and a half. He went back to the bank a second time and got another loan. Tony lost that too. The third time he went to the bank, they gave him a couple of credit cards worth $15,000. Tony wanted to abandon day trading for something more consistent. He decided to try credit spreads and built a trading strategy he hadn’t seen elsewhere. Tony spent about three weeks just figuring out the ins and outs of the process and finally put it to work. He started making $1,000 to $2,000 weekly on his $15,000 account. Tony began getting pretty efficient, earning enough to pay off bills and loans, including some credit cards. Tony was going strong for about six or seven months until he saw this one trade outside his plan—day trading a credit spread. He jumped on it, thinking this was it. Tony put on half of his account on this one credit spread. Soon after, the markets reversed and started going against his trade. Tony figured he’d hedge it. He lost on that first hedge. Tony hedged again and lost. He kept hedging, and before he knew it, he’d lost the entire loan amount in one day. Lessons learnedDon’t quit; get up and find a way. If you view the markets as a get-rich-quick method, it will burn you. Succeeding in trading has nothing to do with knowledge but everything with managing risk. Have the right perspective to make money in the markets. Making money is not hard. You just need to know where to look and what to do. Andrew’s takeawaysStop stressing about the outcome and focus on the process. Understand all the different emotions involved in trading because everything that’s happening in the market is a physical reaction going on in your body. Borrowing money and leveraging it is a number one risk factor. There are lessons you could only learn by losing. So embrace your losses and mistakes. You’ve got to find your trading style. Assess risk before you go in and manage it when sizing your position. Actionable adviceInvest in yourself and get coaching from people that you trust, that are currently doing it, and that have done it. Tony’s recommended resourcesVisit Tony’s website, https://www.reallifetrading.com/tonypawlak (Real Life Training) to join coaching sessions with him and learn the trading skill. No.1 goal for the next 12 monthsTony’s number one goal for the next 12 months is to help 200 people...
Aug 11, 2022
Mark Graban – Don’t Shame Yourself for Your Differences
30:34
BIO: Mark Graban is an author, speaker, consultant, and podcaster. His podcasts include Lean Blog Interviews, Habitual Excellence, and My Favorite Mistake. He’s also affiliated with the technology company KaiNexus and the healthcare advisory firm Value Capture. STORY: Two of Mark’s worst investments were investing $4,000 in a company he knew nothing about and living in denial about his ADHD diagnosis for over 20 years. LEARNING: Be careful when choosing individual stocks. Don’t be in denial about things. You’re beautiful as you are.   “If you think you might have a problem, you probably have a problem. It’s worth talking to a professional to get help.”Mark Graban  Guest profilehttps://www.linkedin.com/in/mgraban/ (Mark Graban) is an author, speaker, consultant, and podcaster. His podcasts include https://www.leanblog.org/category/podcast-interviews/ (Lean Blog Interviews), https://www.valuecapturellc.com/thought-leadership/our-podcast-habitual-excellence/ (Habitual Excellence), and https://www.markgraban.com/my-favorite-mistake-reflections-from-business-leaders-podcast/ (My Favorite Mistake). He’s also affiliated with the technology company https://www.kainexus.com/ (KaiNexus) and the healthcare advisory firm https://www.valuecapturellc.com/ (Value Capture). His books include his most recent, titled https://www.measuresofsuccessbook.com/ (Measures of Success: React Less, Lead Better, Improve More). He has a BS in industrial engineering from Northwestern University and an MS and an MBA from MIT. His website with all of his books, podcasts, and more is https://www.markgraban.com/ (MarkGraban.com). Worst investment everIn early 2000, Mark was trying to get started with a retirement account when a colleague told him about a stock they had invested in. The colleague raved about how the stock had skyrocketed, making them a lot of money. The company was called Commerce One. Mark didn’t know anything about it and didn’t do any research. He just took his colleague’s advice and invested $4,000. Before long, the value fell by about 50%. Another one of Mark’s worst investments is living in denial about his ADHD diagnosis. He has struggled with attentiveness, especially at work in meetings and conferences. He would often blame and shame himself for not paying attention. He regrets not doing something about it 20 years ago. Lessons learnedBe careful when choosing individual stocks. Let professionals do it for you through diversified mutual funds or index funds. Don’t be in denial about things. Don’t shame yourself for your differences. Andrew’s takeawaysIf you’re struggling with anything, don’t be afraid to talk about it. You’re beautiful as you are. No.1 goal for the next 12 monthsMark’s number one goal for the next 12 months is to write a book based on the lessons from the https://www.markgraban.com/my-favorite-mistake-reflections-from-business-leaders-podcast/ (My Favorite Mistake) podcast series. Parting words  “Embrace the idea of transparency and openness when you’ve made a mistake at work.”Mark Graban  [spp-transcript]   Connect with Mark Graban https://www.linkedin.com/in/mgraban/ (LinkedIn) https://www.facebook.com/mark.graban (Facebook) https://twitter.com/markgraban (Twitter) https://www.instagram.com/mgraban/ (Instagram) https://www.youtube.com/user/mgraban (YouTube) https://www.markgraban.com/my-favorite-mistake-reflections-from-business-leaders-podcast/ (Podcast) https://www.markgraban.com/ (Website) https://www.measuresofsuccessbook.com/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Aug 04, 2022
Emma Mumford – Everything’s a Blessing or a Lesson
37:23
BIO: Emma Mumford is the UK’s leading Law of Attraction expert. She is an award-winning life coach, mentor, Law of Attraction YouTuber, and 2x bestselling author. STORY: Emma took a £7,000 loan on behalf of her boyfriend to help him pay off a previous loan. They broke up a month later, and he never paid back a cent of the loan. LEARNING: Don’t focus more on the negative part of a bad situation; instead, focus on the positive. Look at your biggest loss as your biggest opportunity.   “At this moment, a situation may feel awful, but in hindsight, it could lead you to your best situation.”Emma Mumford  Guest profilehttps://www.linkedin.com/in/emmamumford/ (Emma Mumford) is the UK’s leading Law of Attraction expert. She is an award-winning life coach and mentor, Law of Attraction YouTuber, 2x bestselling author of her books https://amzn.to/3Q6kGUu (Positively Wealthy) and https://amzn.to/3SfDvqd (Spiritual Queen), speaker and podcast host of the popular podcast https://play.acast.com/s/spiritualqueensbadasspodcast (Spiritual Queen’s Badass Podcast). Emma’s work helps people turn their dream life into an abundant reality using the Law of Attraction and spirituality. Emma’s work has helped hundreds of thousands of people globally over the last 8 years across her two businesses, ‘Extreme Couponing and Deals UK’ as Coupon Queen, back in 2013 and here now with her spiritual work. Worst investment everIn 2012, Emma worked as a banking manager in one of the UK’s leading banks. She was 18 years old and straight from college. Emma had no experience or the right qualifications to do it. She hated working at the bank because she had to put people in debt daily. The worst part was seeing people’s desperation when they couldn’t fulfill their financial obligations. Emma got depression very quickly from that role. At the same time, she was in a really negative relationship. It was her first serious relationship, and she lived with the person. The man had a lot of debt he hadn’t told Emma about. Soon, the bailiff started turning up at their door demanding payment. Emma wanted to help him get the bailiff off his back, and because she got preferential rates at the bank, she decided to take out a loan on behalf of the boyfriend. She took a £7,000 loan for her boyfriend, thinking it was the adult best decision of her life. Within a month, they broke up, and he hadn’t paid back a single penny of that loan. Emma found out that he had £30,000 worth of debt. Her depression worsened to the point that she couldn’t even turn up to work, so she had to leave her well-paying job. It became tough to pay the loan off because she wasn’t earning much money. Emma moved back to her parents and picked herself back up. The ex-boyfriend never paid back a single penny to this day. Lessons learnedDon’t focus more on the negative part of a bad situation; instead, focus on the positive. In every situation, ask yourself what is in your control, what you’re able to do in that situation, and What’s the most loving thing you can do for yourself. Then make empowered decisions from that. Andrew’s takeawaysLook at your biggest loss as your biggest opportunity. Do the inner work; it pays off. Actionable adviceLearn about the law of attraction, start taking responsibility, do better and be better. Emma’s recommended resourcesRead Emma’s second book, https://amzn.to/3Q6kGUu (Positively Wealthy), if you want to dip your toes into the law of attraction and do your funnel or manifestation challenge. It’s a 33-day guide to manifesting sustainable abundance and wealth. No.1 goal for the next 12 monthsEmma’s number one goal for the next 12 months is to relax, enjoy, and soak up in all the amazingness she has worked hard for.   [spp-transcript]   Connect with Emma Mumfordhttps://www.linkedin.com/in/emmamumford/ (LinkedIn) https://www.facebook.com/iamemmamumford (Facebook) https://twitter.com/iamemmamumford (Twitter)...
Aug 02, 2022
Gavin Wren – Invest Your Time in the Right People
25:53
BIO: Gavin Wren is a founder, consultant, and content creator from London, helping the world learn more about food. His background in media has seen him photographing food around the world for the likes of National Geographic and writing in the national press. STORY: Gavin’s worst investments have been the relationships he’s put in a lot of effort and time to build, only to realize they weren’t beneficial for him. LEARNING: Don’t bend yourself out of shape for people. Learn to walk away from bad situations.   “Don’t be a people pleaser. It doesn’t get you anywhere.”Gavin Wren  Guest profilehttps://www.linkedin.com/in/gavin-wren/ (Gavin Wren) is a founder, consultant, and content creator from London, UK, helping the world learn more about food. His background in media has seen him photographing food around the world for the likes of National Geographic and writing in the national press. Today he helps organizations develop their strategy for the future of sustainable food whilst also creating content on TikTok, which reaches millions of people each month. He’s the founder of three businesses and a non-profit but loves nothing more than good pizza or strong espresso. Worst investment everGavin’s worst investment over the years has been investing in the wrong relationships. Spending months or years building relationships that weren’t beneficial to him has been worse than losing money. According to Gavin, one can get over financial losses quickly. You’ll be depressed for a few days or weeks, and then you get over it and move on. But the bad personal business relationships are pretty insidious, and you never quite recover from them. One instance Gavin recounts is this person with a lot of influence and power he badly wanted to work for. Gavin wanted to be part of their circle and work with them. He did everything he could, got close to the person, and started working with them. Gavin soon realized that there was a misalignment of values, and something just didn’t sit right with him about this person. But Gavin kept pushing because he knew he wanted to be associated with that person. A year later, Gavin was stuck, intensely stressed, and always anxious. Eventually, he stopped working for that person, which was the biggest relief ever because he didn’t get anything out of it. All he did was do a lot of work for very little money. Lessons learnedTrust your gut. If stress and anxiety arise around a person, question whether that relationship has a long-term benefit. Drop your ego and do the work that you want to do and that you enjoy. Not the work that you think someone else is going to enjoy. Don’t bend yourself out of shape for people. Speak your mind and be honest. Andrew’s takeawaysLearn to walk away from bad situations and just bite the bullet. Actionable adviceBefore forming bonds with people, ask questions to get more information and decide whether those are the right bonds. No.1 goal for the next 12 monthsGavin’s number one goal for the next 12 months is to keep growing his TikTok account and find a way to start monetizing it. Parting words  “Just keep trying to help people and learn in the process.”Gavin Wren  [spp-transcript]   Connect with Gavin Wrenhttps://www.linkedin.com/in/gavin-wren/ (LinkedIn) https://twitter.com/GavinWren (Twitter) https://www.instagram.com/gavin.wren/ (Instagram) https://www.tiktok.com/@gavin.wren (TikTok) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community)...
Jul 31, 2022
Andrew Stotz – 15 Risk Reduction Lessons from My Guests
06:42
15 Risk Reduction Lessons from My GuestsIn this episode, Andrew Stotz explains the 15 risk reduction lessons he has learned from his guests. https://myworstinvestmentever.com/wp-content/uploads/2022/07/The-Investors-Risk-Reduction-Checklist.pdf (Download the The Investor's Risk Reduction Checklist.) 1 Get the power of compounding working for you now, and don’t interrupt it.https://www.linkedin.com/in/dansolomonpc/ (Dan Solomon) from https://myworstinvestmentever.com/ep434-dan-solomon-the-time-to-start-investing-is-now/ (Ep434:  The Time to Start Investing Is Now) 2 Do your own research before making any investment. Do not rely on others.https://www.linkedin.com/in/traviswatts1234/ (Travis Watts) from https://myworstinvestmentever.com/ep381-travis-watts-do-your-due-diligence-and-keep-your-investment-simple/ (Ep381: Do Your Due Diligence and Keep Your Investment Simple) https://www.linkedin.com/in/curtmercadante/ (Curt Mercadante) from https://myworstinvestmentever.com/ep438-curt-mercadante-not-every-home-is-an-investment/ (Ep438: Not Every Home Is an Investment) https://www.linkedin.com/in/furqan-aziz/ (Furqan Aziz) from https://myworstinvestmentever.com/ep441-furqan-aziz-validate-every-idea-you-invest-time-in/ (Ep441: Validate Every Idea You Invest Time In) 3 Have a rigorous thought process when evaluating investments, and stick to that process.https://www.linkedin.com/in/shashankrandev/ (Shashank Randev) from https://myworstinvestmentever.com/ep352-shashank-randev-there-is-no-surefire-formula-to-venture-capital-investing/ (Ep352: There Is No Surefire Formula to Venture Capital Investing) 4 Expect long-term returns of about 8% and consider that investments above that could be “too good to be true.”https://www.linkedin.com/in/petealexander/ (Pete Alexander) from https://myworstinvestmentever.com/ep284-pete-alexander-if-the-real-estate-deal-sounds-too-good-to-be-true-it-is/ (Ep284: Pete Alexander – If the Real Estate Deal Sounds Too Good to Be True, It Is) 5 Build a network of experienced professionals who can give you input.https://www.linkedin.com/in/sarahlarbi84/ (Sarah Larbi) from https://myworstinvestmentever.com/ep177-sarah-larbi-build-a-network-of-successful-role-models-to-avoid-this-real-estate-investing-mistake/ (Ep177: Build a Network of Successful Role Models to Avoid this Real Estate Investing Mistake) 6 Always spend time considering the risk before investing.https://www.linkedin.com/in/furqan-aziz/ (Furqan Aziz) from https://myworstinvestmentever.com/ep441-furqan-aziz-validate-every-idea-you-invest-time-in/ (Ep441: Validate Every Idea You Invest Time In) 7 Size your position according to your ability to handle a loss. If the risk is high, start small.https://www.linkedin.com/in/furqan-aziz/ (Furqan Aziz) from https://myworstinvestmentever.com/ep441-furqan-aziz-validate-every-idea-you-invest-time-in/ (Ep441: Validate Every Idea You Invest Time In) https://www.linkedin.com/in/ericrosenberg/ (Eric Rosenberg) from https://myworstinvestmentever.com/ep403-eric-rosenberg-start-investing-by-making-regular-monthly-contributions/ (Ep403: Start Investing by Making Regular Monthly Contributions) https://www.linkedin.com/in/kittisak-kovintavewat-60a381a4/ (Kittisak Kovintavewat) from https://myworstinvestmentever.com/ep432-kittisak-kovintavewat-be-an-investor-not-a-speculator/ (Ep432: Kittisak Kovintavewat – Be an Investor, Not a Speculator) 8 Consider the “unknowns” with any investment idea.https://www.linkedin.com/in/dramseyinc/ (Daniel Ramsey) from https://myworstinvestmentever.com/ep159-daniel-ramsey-when-investing-in-real-estate-take-your-time-to-remove-the-unknowns/ (Ep159: When Investing in Real Estate Take Your Time to Remove the Unknowns) 9 Invest in things that you can quickly exit. If you can’t, demand a very high return and deploy a small amount of your...
Jul 28, 2022
Andrew Stotz – 12 Steps to Financial Independence
08:11
12 Steps to Financial Independencehttps://astotz.kartra.com/page/12-Steps-To-Financial-Independence (Download the 12 Steps to Financial Independence cheat sheet.) In this episode, Andrew Stotz explains the 12 steps to financial independence. 1. Have no written financial plan2. Allow others to complicate your investing3. Think short term; start too late4. Want to get rich quick in the market5. Rely on others too much6. Make big mistakes early in life7. Do not save enough money8. Underestimate the impact of fees9. Take too much risk10. Ignore bonds in favor of stocks11. Trade too much12. Try to time the market Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Jul 21, 2022
Dr. Chris Stout – Plan for the End
49:13
BIO: Dr. Chris Stout is a licensed clinical psychologist and international humanitarian with a diverse background in various domains. He is the Founding Director of the top-ranked nonprofit Center for Global Initiatives. STORY: Two years after Chris started the Center for Global Initiatives, he met a couple who had a project for developmentally different children in orphanages in Ukraine. They wanted to collaborate with the center, and he said yes because the project looked good. Unfortunately, he realized that he couldn’t manage to take a week off every year to go to Ukraine. Chris had to back out of this project, which left him very emotional for not being able to help. LEARNING: Plan for the end so that you know what happens when things don’t go well.   “Planning for the end will help you decide what happens when things don’t go well, and you need to make a pivot.”Dr. Chris Stout  Guest profilehttps://www.linkedin.com/in/drchrisstout/ (Dr. Chris Stout) is a licensed clinical psychologist and international humanitarian with a diverse background in various domains. He is the Founding Director of the top-ranked nonprofit http://www.centerforglobalinitiatives.org/ (Center for Global Initiatives). He works as the Executive Producer and Host of the popular “https://pod.link/1281672367 (Living a Life in Full)” podcast, a top 5% show with an audience reach of 3 million+. He was a Fellow in the School of Public Health and a Full Professor in the Department of Psychiatry in the College of Medicine at the University of Illinois, Chicago. Before that, he held an academic appointment at Northwestern University’s Feinberg School of Medicine. Worst investment everChris set out to summit all the Seven Summits, starting with Kilimanjaro. While at it, he met a seminarian, and they hit it off quickly. The two stayed in touch for years. At some point, the seminarian became the chaplain at two hospitals in Tanzania. Chris decided to help him and shipped several materials over for the kids for Christmas. The process cost him a fortune, and some materials got lost along the way. Chris talked to his mentor about his desire to keep helping the children in Tanzania and the hurdles he faced. The mentor advised him to start a nonprofit organization and have people donate to support his cause. Chris got in touch with the mentor’s wife, a lawyer dealing with nonprofits. She made the IRS application and other applications and got the approval. Chris constituted a board and went out to do great charity projects worldwide. In 2009, two years after he started the nonprofit, a couple from Ukraine came to him and told him they had a project they thought would be a good collaboration for his nonprofit. The project was to support developmentally different children in orphanages in Ukraine. The couple was applying for a grant from USAID, and one of the three-year grant requirements was a quarterly visit to Ukraine to assess the project. Chris was the one to be in charge of the projects. Unfortunately, he couldn’t take four weeks every year to attend to matters in Ukraine. Unfortunately, the nonprofit had to back out of this project which left Chris very emotional for not being able to help. Lessons learnedPlan for the end. Think about how what you’re getting into will end. Planning for the future will help you decide what happens when things don’t go well, and you need to make a pivot. Chris’s recommended resourceshttp://www.centerforglobalinitiatives.org/ (Center for Global Initiatives) website has a tools and resources page for this interested in the nonprofit area. You’ll find tips, lectures, webinars, free downloadable books and articles, scientific articles, and more. The https://pod.link/1281672367 (Living a Life in Full) podcast for broader aspects such as startups, finance, travel, motorcycle art, and more. No.1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to have a better mindset of how to do
Jul 19, 2022
Ron Baker – Have Your Skin in the Game
38:05
BIO: Ron Baker is the founder of VeraSage Institute—the leading think tank dedicated to educating professionals internationally. He’s also a radio talk-show host of The Soul of Enterprise: Business in the Knowledge Economy on Voice America. STORY: Ron partnered with a group of friends and invested $70,000 to start a software company. All the partners had no experience or skills to run the business leading to its failure. LEARNING: Seek out successful people and try to learn from them. Learn from your losses.   “When it comes to business, you’ve got to have your total skin in the game.”Ron Baker  Guest profilehttps://www.linkedin.com/in/ronbaker1/ (Ron Baker) started his CPA career in 1984 with KPMG’s Private Business Advisory Services in San Francisco. Today, he is the founder of https://www.verasage.com/ (VeraSage Institute)—the leading think tank dedicated to educating professionals internationally—a radio talk-show host on Voice America; the show is The Soul of Enterprise: Business in the Knowledge Economy. Ron has authored seven best-selling books, including https://amzn.to/3ITZKhj (The Firm of the Future); https://amzn.to/3O3VXP7 (Pricing on Purpose); https://amzn.to/3Pa0YHo (Measure What Matters to Customers); and https://amzn.to/3c4uXBO (Implementing Value Pricing). His forthcoming book, https://amzn.to/3uP8Dmt (Time’s Up!: The Subscription Business Model for Professional Firms), will be published in November 2022. Worst investment everRon partnered with a couple of friends and started a software company. He invested about $70,000 into the company. The group wanted to write a software program to help firms value price. They hired a software engineer and spent a lot of money to get the program going. They were all delusional and believed they were sitting on top of something radical and innovative. Their most significant setback was their lack of skills and experience in building a software company. All the partners also had other jobs and were treating business as a side-hustle, not paying it the full attention it needed. Needless to say, the business wasn’t successful. Lessons learnedSeek out people who are successful and try to learn from them. Make sure that you have partners who have skin in the game. Andrew’s takeawaysLearn from your losses. If you lose money, at least make sure you gain knowledge from the experience. Never overlook the randomness of success and failure. Focus more on avoiding loss by reducing your risk as much as you focus on growth and success. Actionable adviceDon’t be delusional and go into business just to confirm your biases. Keep in mind that business is much more complicated than most people think. Ron’s recommended resourceshttps://amzn.to/3c4uXBO (Implementing Value Pricing) for anyone who wants to learn more about pricing. https://amzn.to/3uP8Dmt (Time’s Up!: The Subscription Business Model for Professional Firms) for anyone who wants to understand the subscription model. Ron believes that in five years, we’ll have the option to subscribe to everything, so now is the time to perfect your subscription business. No.1 goal for the next 12 monthsRon’s next project is to get his upcoming book https://amzn.to/3uP8Dmt (Time’s Up!: The Subscription Business Model for Professional Firms) published and then go and speak and evangelize about it.   [spp-transcript]   Connect with Ron Bakerhttps://www.linkedin.com/in/ronbaker1/ (LinkedIn) https://twitter.com/ronaldbaker (Twitter) https://www.facebook.com/ron.baker.923/ (Facebook) https://www.thesoulofenterprise.com/ (Podcast) https://amzn.to/3aCPNb5 (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online...
Jul 17, 2022
Andrew Stotz – 12 Barriers to Financial Independence
11:21
12 Barriers to Financial Independencehttps://astotz.kartra.com/page/12-Barriers-To-Financial-Independence (Download the 12 Barriers to Financial Independence cheat sheet.) In this episode, Andrew Stotz explains the 12 barriers to financial independence. 1. Have no written financial plan2. Allow others to complicate your investing3. Think short term; start too late4. Want to get rich quick in the market5. Rely on others too much6. Make big mistakes early in life7. Do not save enough money8. Underestimate the impact of fees9. Take too much risk10. Ignore bonds in favor of stocks11. Trade too much12. Try to time the market Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://astotz.kartra.com/page/become-a-better-investor-community (The Become a Better Investor Community) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/best-business-book-club (Best Business Book Club) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Jul 14, 2022
Andrew Stotz – 10 Harsh Realities Shaping Our Future
15:09
10 Harsh Realities Shaping Our Futurehttps://astotz.kartra.com/page/tenharshrealities (Download the 10 Harsh Realities cheat sheet.) In this episode, Andrew Stotz identifies and explains 10 harsh realities shaping our future. Politicians created the mess we are in The Fed is going to crash the market Europe (esp. Germany) is destroying itself It’s a US-Russia, not a Russia-Ukraine showdown Gov’ts pushed 100m people into poverty and starvation America openly states that China is enemy #1 The US, not China, is the biggest global threat World leaders are not nearly as wise as they may appear Mass refugee influx is being used as a political tool to cause social disruption Germany is rearming 77 years after WWII 1. Politicians created the mess we are inThey kept interest rates too low for too long. They shut down global economies, destroying supply chains and reducing the supply of goods. They borrowed to finance massive spending, and they produced unparalleled money printing. They bailed out the bond market in 2020. They allowed the war in Ukraine to escalate, causing food shortages.   2. The Fed is going to crash the marketThe Fed pumped up the stock market with a decade of ultra-low interest rates. This low-interest rate policy incentivized borrowing, leading to corporate malinvestment. Now the Fed is raising rates into what looks to be a recession.   3. Europe (esp. Germany) is destroying itselfGermany and Europe had no reason to stop oil and gas from Russia. They had been improving commercial relationships (Remember: Trade brings peace). Germany’s transition to green energy didn’t produce the energy needed to replace its fossil fuel and nuclear power wind-down. Rising energy prices are crippling German industry and consumers.   4. It’s a US-Russia, not a Russia-Ukraine showdownThe US sees Russia as its arch-enemy and has been closing in on it since the 1991 break up of the Soviet Union. Since 2008, the US, through its proxy, NATO, has been trying to get on Russia’s borders by bringing Georgia and Ukraine into NATO. Don’t be deceived by US concern for Ukraine. Ukraine is just a means for the US to get at Russia. 3 April 2008: Bucharest Summit Declaration, Paragraph 23: “NATO welcomes Ukraine’s and Georgia’s Euro-Atlantic aspirations for membership in NATO…Today we make clear that we support these countries’ applications for Membership Action Plan.”   5. Governments pushed 100 million people into poverty and starvationGlobal economy lockdowns were estimated to have pushed 100 million people into poverty. As many as 70 million of them are in India. Instead of negotiating peace, experts expect that the continued war in Ukraine will push 100 million people into starvation, most of them in Africa. All the while, the rich get richer at a faster pace. According to The Guardian, “The 400 richest Americans added $4.5tn to their wealth last year [2020], a 40% rise….”   6. America openly states that China is enemy #1China had considerable respect for America and US capitalism and benefits from being a friend, not an enemy of the US. The US Department of Defense now openly states that China is America’s #1 enemy, and you can expect the US to pursue this policy until it provokes a war with China. “The Department will act urgently to sustain and strengthen deterrence, with the People’s Republic of China (PRC) as our most consequential strategic competitor….” – US Department of Defense   7. The US, not China, is the biggest global threatUS gov’t recognizes Taiwan as part of China. In January 1979, the US recognized the PRC as the sole legal gov’t of China and acknowledged, but did not endorse, that Taiwan is part of China. Hong Kong was forcibly taken and established as a colony of the British Empire in 1841 and eventually handed back to China. Since 1986, the US has participated and interfered in the replacement of foreign governments, e.g.,...
Jul 07, 2022
Richard Moran – Common Sense in the Workplace
33:38
BIO: Richard Moran is a Silicon Valley investment and operations veteran. He is General Partner at Tonic BioVentures, an early-stage life sciences venture firm. STORY: Richard was impressed by the success record of a young man, so much so that he got his company to invest $6 million to build a business. A few months later, the young man misbehaved in front of customers. Richard reprimanded him, but he did the same thing again and had to be fired. Richard’s company lost $6 million. LEARNING: Pay proper attention to the findings of the due diligence. Don’t be distracted by past track records. Be careful of key man risk where the success of your investment is hinged on one person.   “Sometimes past performance is not an indicator of future performance in investing.”Richard Moran  Guest profilehttps://www.linkedin.com/in/richardamoran/ (Richard Moran) is a Silicon Valley veteran in both investing and operations. He is General Partner at https://tonicbioventures.com/ (Tonic BioVentures), an early-stage life sciences venture firm. Previously, he was the President of Menlo College. His background includes serving as a Partner at Venrock, CEO at Accretive Solutions, Chairman of Portal Software, and a Managing Partner at Accenture. His track record includes successful exits in software, gaming, food, and life sciences. He is a  best-selling author with ten books to his credit. His latest book is Never Say Whatever to be published by McGraw-Hill. He has a syndicated show, “In the Workplace” on CBS Radio, and is an “Influencer” on LinkedIn where he is a regular contributor but never reads the comments. Worst investment everA young man, who had been very successful, wanted to start a new company and needed $6 million to start it. Richard was blinded by his success story and immediately got his company to invest in him. They gave the young man the $6 million he needed to build this company. The success of that company was all hinged on him because he was its core. A couple of months later, the young man behaved inappropriately at a trade show. The partners went to Richard about what to do. According to Richard, the partners had two options. One was to fire him, in which case, they’d lose $6 million. The second option was to coach him; in this case, he might change or ignore it; if he ignored it, no one would want to be involved in his company. Richard didn’t want to lose the $6 million, but he also didn’t want to keep him on. So he brought him into his office, yelled at him, and warned that he’d fire him if it happened again. The young man did something similar again. So he was fired, and Richard’s company lost $6 million. The sad part is that there were hints of the young man’s bad behavior during due diligence before Richard made the first investment. But he ignored it. Lessons learnedPay proper attention to the findings of the due diligence. Don’t be distracted by past track records. Sometimes past performance is not an indicator of future performance in investing. Whatever you do, know you’ll always get caught. Stay current. Andrew’s takeawaysBe careful of key man risk where the success of your investment is hinged on one person. Remember to talk to people who don’t like that company or have had a bad experience when you do your due diligence. Actionable adviceDon’t go after the shiny objects that everybody wants. When doing your due diligence, it’s not just about the person or the company but also about the market. Find out what’s happening in that category. No.1 goal for the next 12 monthsRichard’s goal for the next 12 months is to stay healthy and continue to be an evangelist of common sense in the workplace. Parting words  “Common sense in the workplace.”Richard Moran  [spp-transcript]   Connect with Richard Moranhttps://www.linkedin.com/in/richardamoran/ (LinkedIn) https://twitter.com/richmoran (Twitter) https://www.facebook.com/richamoran/ (Facebook)...
Jul 05, 2022
Amelia Sordell – Selfishly Invest in Yourself Before Everyone
26:41
BIO: Amelia Sordell is a speaker, content creator, and Founder of Klowt, the first-of-its-kind personal brand marketing agency. STORY: Amelia lived all her life seeking external validation, and instead of making her happy, it left her very empty. She eventually decided to invest in herself and now is thriving. LEARNING: Selfishly invest in yourself before everyone. Always ask yourself if what you’re spending time on has any ROI.   “You can’t serve people in the way that you’re meant to if you’re not first looking after yourself.”Amelia Sordell  Guest profilehttps://www.linkedin.com/in/ameliasordell/ (Amelia Sordell) is a speaker, content creator, and Founder of https://klowt.com/ (Klowt), the first-of-its-kind personal brand marketing agency. Her desire to oversee her career and live by her own rules led to launching her first business, a clothing brand, at the age of just 21. After the business failed, Amelia’s resilient attitude meant she pivoted her career to become a Tech Headhunter, where she quickly discovered the reach and positive power that an individual personal brand can have on the overall company. It wasn’t long before people outside the organization began to contact Amelia for her help in building their brands online. Now 31, Amelia has built a 6-figure personal branding agency - Klowt with a team of 7 during the middle of a pandemic, all off the back of her own personal brand. With a strong following on LinkedIn and with views of 40 million, Amelia and the agency have worked with Tech Startup Founders to FTSE Leadership teams, such as The National Lottery, on building personal brands that deliver actual results so they can scale their lead pipeline, generate more referrals to position themselves as an authority and accelerate their businesses growth. A strong leader and public speaker, Amelia also often comments on discussions around fairness, equal opportunities and pay, hiring and retaining great talent, the realities of running a startup, and women’s issues online. Worst investment everAs a 13-year-old girl, an incident happened, and Amelia suffered tremendous trauma. As a result, she constantly sought external validation from others, particularly men, in relationships, friendships, and online. Amelia was obsessed with how people perceived her looks to the point of losing a lot of weight and ended up with a bad case of bulimia. Amelia believed that if she could control the external narrative she was telling people, she wouldn’t have to deal with her internal feelings about how she felt herself. She just wanted people to like her. Amelia lived like this through to her 30s, and it affected her actions, behaviors, friendships, relationships, the jobs she took, etc. She finally got to a point where she realized she wasn’t happy. Not in her marriage, her home, her job, everything. She found herself constantly wondering what she was doing with her life. Amelia checked all the things she was spending her time on and realized she didn’t enjoy any of them. She loved her kids and loved spending time with them. But that was about it. There was nothing else in her life that was making her feel happy. She was at a harrowing point in her life. Amelia decided to look inward and invest in herself. She filed for divorce, quit her job, and started a business. Lessons learnedSelfishly invest in yourself before everyone. Always ask yourself if what you’re spending time on has any ROI. ROI doesn’t need to be cash. It could be happiness, fitness, good health, the overall sense of well-being, etc. You can’t serve people how you’re meant to serve them if you’re not first looking after yourself. Andrew’s takeawaysYou have a right and the ability to have everything in this life. But you’ve got to make a choice. Actionable adviceWrite down a list of the things that trigger you to feel unhappy, depressed, or trapped. Underneath that, you write down what makes you feel calm and happy. And then underneath
Jul 03, 2022
Ana Melikian – Marketing Is Essential, but Not Enough to Get the Client
26:11
BIO: Ana Melikian, Ph.D., is an optimist who had to overcome two bouts with cancer to learn that pursuing happiness is a fallacy. STORY: When Ana started her online coach business, she was looking for the quickest way to find clients. This hunger made her fall for two marketing strategies that never worked. The first was a search engine that promised to be better than Google, and the other was publishing a chapter in a book. LEARNING: Marketing does not get you clients; building relationships does. Have both sales and marketing departments.   “Marketing will not get you the client. Building relationships will.”Ana Melikian  Guest profilehttps://www.linkedin.com/in/anamelikian/ (Ana Melikian, Ph.D.,) is an optimist who had to overcome two bouts with cancer to learn that pursuing happiness is a fallacy. To choose happiness is a much more powerful strategy to tap into our highest human potential. Either by working with leaders and their teams, or other coaches and consultants, Ana supports her clients to break through their mindset limitations and upgrade their psychological operating systems so that they achieve better results than ever in work and life while enjoying the process. Worst investment everWhen Ana moved to the United States from Portugal, she had to reinvent herself professionally. She decided to be an online coach, so she built a website hoping that people would find it. A salesperson contacted her and told her about this search engine that was going to be the next Google. The salesperson showed Ana these really cool and well-done features on the search engine. They did a demo for Ana and convinced her that if she invested in the search engine, she’d secure a permanent placement on page one of search results. Ana signed up believing she’d get more clients than she could handle. She didn’t get a single client. The same thing happened to Ana again. Someone else contacted her online with an idea to write and publish a book that would position her as an expert and get clients quickly. The company would just interview Ana, put everything together, and then publish a chapter in a book with her photo. Ana thought, okay, why not? So she put more money into it, and they fulfilled their promise and published her in an excellent chapter. But when Ana received the book, she realized that the other people featured were not the kind of people she wanted to be associated with. So the books stayed in a box somewhere in storage in Ana’s house. Lessons learnedMarketing does not get you clients. It’s a way of creating awareness. Focus on building relationships if you want to get clients. You need both marketing and sales departments. Andrew’s takeawaysYou will fail if you think that just doing marketing will bring you clients. The sales process (guiding a customer through the buying process) is different from marketing. Actionable adviceDon’t wait for people to come and work with you. Create opportunities to have conversations and build relationships. Ana’s recommended resourcesThe https://anamelikian.com/category/podcast/ (Mindset Zone Podcast) is an excellent way of expanding your possibilities. No.1 goal for the next 12 monthsAna’s goal for the next 12 months is to create a plan to market and sell the book. Parting words  “Be gentle with yourself and keep moving forward.”Ana Melikian  [spp-transcript]   Connect with Ana Melikianhttps://www.linkedin.com/in/anamelikian/ (LinkedIn) https://www.facebook.com/AnaMelikian/ (Facebook) https://twitter.com/anamelikian (Twitter) https://www.instagram.com/anamelikian/ (Instagram) https://www.youtube.com/user/anamelikian (YouTube) https://anamelikian.com/ (Website) https://anamelikian.com/category/podcast/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to...
Jun 30, 2022
Justin Cunningham – Face Your Fears and Show Up
33:32
BIO: Justin Cunningham helps thought-leader business owners make simple changes to radically grow profits through standing out, creating transformative content and offers, and optimizing effectiveness. STORY: Justin overworked himself while planning an event in Los Angeles so much that he was out of his depth during the event. LEARNING: Face your fears and show up. Stay true to your passion. Your outcomes do not define you.   “Luck is when passion meets opportunity.”Justin Cunningham  Guest profilehttps://www.linkedin.com/in/justincunningham1/ (Justin Cunningham) helps thought-leader business owners make simple changes to radically grow profits through standing out, creating transformative content and offers, and optimizing effectiveness. Justin is a former international music performer, designer, event producer, and editor of NZ Entrepreneur magazine. His business career as a global sales trainer, accelerated results educator, and the founder of the https://ishiftresults.com/ (SHIFT agent movement) and the celebrated ‘SHIFT Your results’ system. Justin is best known for his fast results recipes for time-poor businesses and his ability to simplify the complexity of standing out and being rewarded in saturated markets. In short - Justin helps frustrated business rockstars go BIG! Take https://ishiftresults.com/quiz/ (The ‘Shift Your Results’ - Business Owner Quiz) reveals the unconscious ways we are blocking our goals and results and how to overcome that. Worst investment everJustin wanted to go to Los Angeles and create an event called Creative supernova. He intended to support creative entrepreneurs. He was motivated, pumped, and fired up to host the event. Justin had a business partner helping him with the finances, and she also had a lot of relationships in Los Angeles. Promotions for the event started, but nothing was happening. No tickets were being sold at this stage. He’d already spent about $30,000. Justin went to LA, and even though he didn’t have any support structure there, he stayed seven weeks on the ground hustling. He managed to get about 90 people to sign up for the event. Justin’s biggest mistake was doing so much by himself to make the vent happen. He spent so much time hustling and getting it ready. He was also dealing with the grief of losing his dog and stepfather. This left him so burned out that when he went on stage during the event, he was out of his depth despite being a successful sales trainer. Lessons learnedFace your fears and show up. Stay true to your passion. Your outcomes do not define you. Where your attention goes, your energy flows. Andrew’s takeawaysBurnout is real. Don’t try to do too much at once. This could break you. Actionable adviceYou can be afraid or excited about what the future holds. Either way, the future is going to come. So make your choice and go forward because taking action will always get you closer to whatever you want to be. You might not always get what you want. But you may get more than you expected. No.1 goal for the next 12 monthsJustin’s goal for the next 12 months is to be consistent and persistent. Parting words  “You’ve got one choice; go big.”Justin Cunningham  [spp-transcript]   Connect with Justin Cunninghamhttps://www.linkedin.com/in/justincunningham1/ (LinkedIn) https://www.facebook.com/justincunninghamonline (Facebook) https://sociatap.com/justincunningham/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing...
Jun 28, 2022
Mohammed Aneez – Learn Leadership Qualities and Build the Right Team
24:59
BIO: Mohammed Aneez is a multidisciplinary designer and has been Co-founder and Design Director at Emnicent Designs. STORY: Mohammed co-founded a design studio with three friends from college. Even though the company was profitable, the co-founders didn’t have enough entrepreneurial experience to scale the business according to their goals. LEARNING: Focus on good leadership. Learn from other leaders.   “Good leadership will build you a profitable company.”Mohammed Aneez  Guest profilehttps://www.linkedin.com/in/aneez117/ (Mohammed Aneez) is a multidisciplinary designer and has been Co-founder and Design Director at http://www.emnicent.com/ (Emnicent Designs). His expertise lies in product design for enterprise solutions, digital transformation, and usability design for business-to-business (SaaS) products across domains. With cross-domain experience and a veteran of design methodologies, Aneez leads multiple teams in-house and at client locations. He also provides free design consultations for various startups from India. He believes that creativity and entrepreneurship are skills that are innate in every human being and must be embraced. He likes to indulge in design practices that are experimental. Worst investment everAfter college, Mohammed and his three friends started a design studio. The four were good designers, but none had business experience. However, they succeeded in running a profitable company. The company was cash-flow positive in under a year and had many projects coming in. Their problem was high demand and low supply at the end of the first year. They didn’t have sufficient designers for the demand. Due to a lack of entrepreneurial experience, the four were just going by the gist of it. They had zero structure for handling sales, marketing, finance, hiring, etc. By the end of the first year, one of Mohammed’s co-founders had a family emergency, and he felt getting a job would be better. He was not into the entrepreneurial spirit, so he left the company. At the end of the second year, another co-founder left because he felt the company was more focused on making profits than the initial goal. When the co-founders came together, their goal was to do much more research and drive the design community forward. Now the company was just a design studio that provided services to different companies. After the second guy left, Mohammed started to think about why he had launched the business. He realized that his lack of leadership skills had made the co-founders and the business generally stray from its initial goal. Lessons learnedLearn leadership qualities and how to ensure that it’s imbibed in the company culture. Learn from other leaders. Get to know how they keep the ball rolling and become great. Focus on building the right team. Andrew’s takeawaysScaling is very crucial for a company to continue running. No.1 goal for the next 12 monthsMohammed’s goal for the next 12 months is to learn to be a better leader. Parting words  “You don’t need a lot of people to trust and be around you. Just find that one person who is ready to listen and talk.”Mohammed Aneez  [spp-transcript]   Connect with Mohammed Aneezhttps://www.linkedin.com/in/aneez117/ (LinkedIn) http://www.emnicent.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple)...
Jun 26, 2022
Cory Warfield – Generating Revenue Is Better Than Raising Capital
14:12
BIO: Tech founder, LinkedIn influencer, Metaverse architect, community builder, advisor and consultant to web3 and blockchain projects, philanthropist, and lover of dogs - it’s LinkedIn’s (beloved) “Crytpo Guy” Cory Warfield! STORY: Cory spent so much time and emotions trying to raise capital for his company instead of focusing on generating revenue from a product that was already selling. LEARNING: Focus on producing revenue, and investors will come knocking.   “If you ask for money, you get advice. But if you ask for advice, you get money.”Cory Warfield  Guest profileTech founder, LinkedIn influencer, Metaverse architect, community builder, advisor and consultant to web3 and blockchain projects, philanthropist, and lover of dogs - it’s LinkedIn’s (beloved) “Crytpo Guy” https://www.linkedin.com/in/corywarfield/ (Cory Warfield)! Worst investment everCory’s made his worst investment ever as a first-time founder trying to raise capital. Raising about $800,000 for his company caused the demise of the company. Cory spent so much time and emotion creating pitch decks trying to raise money. After he raised the capital, the funders came in and hired all sorts of unnecessary staff. They also scrapped Cory’s MVP, which was earning revenue, and instead spent a lot of money launching an inferior product. Cory believes that had he instead spent that time trying to find ways to increase revenue, the company could have raised that $800,000 quicker. The company would have had enough capital to scale the way he had wanted it to. Now Cory bootstraps every venture he’s part of. Lessons learnedThe best investment that an early-stage company can get is revenue. When you have customers putting their money into your product, you’ll have enough validation, and investors will throw money at you. In addition to revenue, building a community is even more important. And if you offer value to that community, you can monetize it. Andrew’s takeawaysFocus on sales and generating profit so that you can bootstrap your start-up instead of just raising capital to run it. Actionable adviceIf you are pursuing investment capital, don’t appease or kiss investors’ butts. Just act like they’re no big deal. Psychologically, it makes them start to bid on you in their own mind. It makes them want that deal. No.1 goal for the next 12 monthsCory’s goal for the next 12 months is to help as many people as possible get into the metaverse. He wants to help them create their own meta worlds, communities, and other metaverses and environments. He wants to see more people embrace this new world happening in real-time. Parting words  “If you’re wondering whether or not you should go for it. I think the answer is always very simple: go for it.”Cory Warfield  [spp-transcript]   Connect with Cory Warfieldhttps://www.linkedin.com/in/corywarfield/ (LinkedIn) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)...
Jun 23, 2022
William Green – Be Aware of, and Reduce, Your Particular Flavor of Stupidity
01:36:36
BIO: William Green is the author of “Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life.” The book is based on hundreds of hours of interviews that he’s conducted with many legendary investors over the past quarter of a century. STORY: We look at some of the many lessons William learned from spending hundreds of hours interviewing some of our greatest investors. LEARNING: Be aware of your flaws and frailties. Avoid standard stupidities. Be authentic and true to who you are.   “I’m very vulnerable to my flaws and frailties. I think it’s a valuable thing to be aware of your particular flavor of stupidity.”William Green  Guest profileWilliam Green is the author of a book titled “https://amzn.to/3bkMTrK (Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life).” The book is based on hundreds of hours of interviews that he’s conducted with many legendary investors over the last quarter of a century. Published in 2021, the book is being translated into about 22 languages. William is also the host of the “https://www.theinvestorspodcast.com/richer-wiser-happier/ (Richer, Wiser, Happier)” podcast, in which he interviews famous investors like Howard Marks, Joel Greenblatt, and Ray Dalio. William has written for many leading publications, including The New Yorker, Time, Fortune, Forbes, Barron’s, and The Economist. He also edited Time magazine’s European, Middle Eastern, African, and Asian editions. Having interviewed extraordinary people like Jack Bogle, who founded Vanguard, Peter Lynch, the legendary investor of fidelity, and Sir John Templeton, who was probably the greatest international investor of the 20th century, among others, William Green has learned many lessons about investing and life in general. Today, we go straight to some of the profound lessons he’s learned. Lessons learnedSelf-awareness is critical in investing successfullyOne of William’s most essential lessons from spending hundreds of hours interviewing great investors is that he’s not one of them. He doesn’t have the temperament that they have or the intellectual firepower that most of them have. He’s not as calm, patient, or rational as they are or has an obsessive fascination with sitting around analyzing business models and looking at financial statements. However, this realization is not a bad thing. In fact, it’s incredibly liberating. William realized that once he was self-aware, he could stop playing against people better equipped to win than he was. Charlie Munger taught him it’s best to play games that you can winThis incredible revelation came particularly from Charlie Munger, Buffett’s polymath genius partner at Berkshire Hathaway. Munger taught William that it’s best to play games that you can win. Now William is aware of his strengths and thus takes on opportunities in life that harness those strengths. When it comes to investing, the lesson here is that people should avoid buying individual stocks if they don’t know how to value a business and, therefore, are not equipped to understand the individual stocks that are winners. Arnold Van Den Berg taught him the value of controlling your inner landscapeAnother lesson William took away from his interviews came from Arnold Van Den Berg. He was born just before World War II, and during the Holocaust, he went into hiding as a Jew. Van Den Berg was a guy who was least likely to succeed. He barely made it through high school and had internalized the idea that he was stupid and brain-damaged. Yet, he had this incredibly successful investment career that he built by turning around his life and controlling his inner self. Whenever William is anxious, sad, self-loathing, or feeling like his life is going in the wrong direction, he thinks of Van Den Berg’s journey. If Van Den Berg could turn his life around, he could also achieve what he wanted if William just took control of his inner landscape. Money is important to reduce...
Jun 21, 2022
AJ Aluthwala – Make Decisions Based on Numbers Not Emotions
22:51
BIO: AJ Aluthwala is a specialist in discovering, planning, and executing customized online marketing strategies for businesses to attract massive amounts of online traffic and convert that traffic into sales. STORY: AJ and his business partner agreed to get into an unprofitable business only to help a friend. They lost a ton of money, and the friendship failed too. LEARNING: Don’t partner with anybody, especially friends, based on emotion. Always know your numbers. Review your financial statements monthly.   “Always know your numbers.”AJ Aluthwala  Guest profilehttps://www.linkedin.com/in/aj-aluthwala/ (AJ Aluthwala) is a specialist in discovering, planning, and executing customized online marketing strategies for businesses to attract massive amounts of online traffic and convert that traffic into sales. He also helps companies develop their own proprietary apps to help them improve customer experience and increase the value of their business. He has worked with over 200 companies around the US and worldwide. AJ has lived and worked in Asia, Europe, and North America and has visited over 15 countries worldwide. AJ and his family moved to sunny Florida in 2014. He is offering listeners a free white paper on “5 Things to Look for When Selecting a Mobile App Developer’ which you can download at https://elleapps.com/gift-download (ElleApps). Worst investment everIn 2013, AJ and a partner were running a wholesale business. They did not want to get into the retail side at all because they knew it was cutthroat. However, they had a friend who begged to get involved in their business. His idea was to take the wholesale business to retailers for better profit and more significant margins. To help out this friend, the two partners accepted his idea and got into the retail side. They acquired property, vehicles, and other things to run the business. However, the company was losing around $5,000 a month, which was excruciatingly painful. AJ had to borrow $10,000 from his wife to keep the business afloat. Eventually, they had to close everything up in a few months. The partners didn’t part ways on good terms, and the friendships fell apart. So AJ not only lost money in this investment but a friend too. Lessons learnedDon’t partner with anybody based on emotion. Before starting a business, do your research and look at numbers; if numbers make sense, you can start the business. Be careful when getting into business with friends. Andrew’s takeawaysStay open to new ideas, but don’t get distracted from your vision. Create, or hire someone to draw financial statements and then review them monthly. Actionable adviceMake sure you run the numbers, then make decisions based on the numbers, not on emotions. AJ’s recommended resourcesThe https://elleapps.com/gift-download (5 Things to Look for When Selecting a Mobile App Developer) whitepaper. No.1 goal for the next 12 monthsAJ’s goal for the next 12 months is to expand and build an A-grade team to handle a couple of new projects starting up.   [spp-transcript]   Connect with AJ Aluthwalahttps://www.linkedin.com/in/aj-aluthwala/ (LinkedIn) https://www.facebook.com/anjana.aluthwala (Facebook) https://www.instagram.com/ajaluthwala/ (Instagram) https://www.youtube.com/channel/UC-V_-OtE1MVZ4YIMESDlLwQ (YouTube) https://kallistoart.com/kallistoarticles/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market)...
Jun 19, 2022
David Aaker – Don’t Let Tax Savings Drive Your Investment Decisions
17:53
BIO: David Aaker, sometimes called the Father of Modern Branding, is the author of 18 books on branding and related topics. He is the vice-chair of Prophet, a global branding, growth, and transformation consultancy. STORY: David was an advisor to a software company acquired by Microsoft in the 80s. He had stock in the company but decided to sell it to save on taxes. The stock would now be worth millions of dollars. LEARNING: Don’t let saving taxes drive your investment decisions. Keep your money in the market for as long as possible.   “Don’t sell your stocks to save on taxes.”David Aaker  Guest profilehttps://www.linkedin.com/in/davidaaker/ (David Aaker), sometimes called the Father of Modern Branding, is the author of 18 books on branding and related topics. The last three are https://amzn.to/39nh5lc (Aaker on Branding), https://amzn.to/3MTDX9M (Creating Signature Stories), and https://amzn.to/3MNkVSd (Owning Game-Changing Subcategories). He is the vice-chair of https://www.prophet.com/ (Prophet), a global branding, growth, and transformation consultancy. Worst investment everDavid was an advisor to a software company that was a competitor to Windows in the 80s. The company was better than Windows but couldn’t get any of the big computer companies to adopt it. And so they sold to Microsoft. David had stock in this company that he wanted to keep for his daughters. He later decided to sell his stocks to avoid income tax. Had David kept the stocks, his daughter would have millions of dollars today. Lessons learnedDon’t let saving taxes drive your investment decisions. Andrew’s takeawaysThe real long game in building a portfolio is letting time work its magic. So keep your money in the market for as long as possible. No.1 goal for the next 12 monthsDavid’s goal for the next 12 months is to help people understand how to build brand assets and emphasize structures and financials in their strategic thinking. Parting words  “People should manage their charitable giving portfolio as they do their stock portfolio.”David Aaker  [spp-transcript]   Connect with David Aakerhttps://www.linkedin.com/in/davidaaker/ (LinkedIn) https://www.facebook.com/AakerOnBrands (Facebook) https://twitter.com/davidaaker (Twitter) https://www.prophet.com/thinking/aaker/ (Website) https://amzn.to/3y0Xpxf (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Jun 16, 2022
Mahesh Murthy – Trust but Verify Startup Founders
29:50
BIO: Mahesh Murthy has helped launch Amazon, over 60 startups, a few hundred brands, and a few satellites. He’s a marketer, entrepreneur, and investor. STORY: Mahesh invested close to $400,000 into a startup only to discover that one of the founders was siphoning money via his sister and mother. LEARNING: Verify startup founders before investing in them. Hire someone to monitor your investments if you cannot do it yourself. Invest in a minimum of 10 startups instead of just one.   “Never give your entire investment to one person.”Mahesh Murthy  Guest profilehttps://www.linkedin.com/in/maheshmurthy/ (Mahesh Murthy) has helped launch Amazon, over 60 startups, a few hundred brands, and a few satellites. He’s a marketer, entrepreneur, and investor. As a marketer he: Worked on Amazon, Pepsi, and Nike Helped launch MTV and its rival Channel V. Founded ad firm Pinstorm. Wrote ads, including ‘Asia’s best ad of the decade.” As an entrepreneur he: Failed in his first three ventures. Is taking a company public soon Has taken another into space: Asia’s first private firm to launch satellites As an investor he: Has run three venture funds Was voted India’s “Best VC of the Year.” Twice. Worst investment everMahesh was lucky to be in the US at the start of the Dotcom revolution working at one of the early digital advertising firms in Silicon Valley. He read about a small startup in Seattle that wanted to sell stuff online. Mahesh went to his boss and told him about the startup, but he dismissed him. But he prevailed, and finally, the boss allowed him to meet the startup’s founders. The startup was Amazon. Mahesh started working with Amazon, and in the process, he learned a lot from Jeff Bezos. After a few years, Mahesh decided to return to India and take his e-commerce knowledge there. He also started doing a lot of angel investing. Through this, he met two founders who wanted to teach students outside India online. Mahesh was very excited about the idea and was ready to invest. The two founders hired teachers, and the teaching started. Mahesh was pretty much hands-off and would write a check every three months. The founders would update him on the progress and insist they had everything under control. Soon, Mahesh noticed the company was spending so much money renting computers and an office space bigger than necessary. He kept asking why the founders were doing this instead of buying the computers and renting a smaller space. The founders insisted that they just wanted to be flexible and not invest in assets they knew nothing about. Mahesh just bought into all this. Finally, after about two years of pumping so much money into the company without much progress, Mahesh decided to look deeper into how things were running. He went to the office, and while looking at the financial books, he noticed that the people renting out the computers and the space were related. He dug a little deeper, did a few Google searches, then figured out that the computers belonged to one of the founder’s sisters and the space belonged to his mother. This partner was taking a chunk of money from the company and putting it into his own pocket through his mother and sister. Mahesh was incensed. When he asked the founder about it, he exited the company. When the second founder heard about it, he also left the company. Now Mahesh had very little money left, a company with no leadership, about 25 staff, and no customers. He and his partner jumped in and did what they could to find some customers, paid the teachers full pay, and slowly let them off. About two years later, they sold the company to another company building an education giant and got some shares in it. Up to that point, Mahesh had invested close to $400,000, and he only managed to get about $40,000 back when the new owners took the company public. Lessons learnedNobody’s a good judge of character, so don’t trust people blindly. Being hands-off may be easy and...
Jun 14, 2022
Joseph Hogue – Never Ignore the Debt to Equity Ratio
37:17
BIO: Joseph Hogue graduated from Iowa State University after serving in the Marine Corps. He worked in corporate finance and real estate before starting a career in investment analysis. He has appeared on Bloomberg and CNBC and led a team of equity analysts for a venture capital research firm. STORY: Joseph bought stocks in an energy company at a time when industry prices were low with the hope that the company would outperform the market, but it didn’t. He lost $30,000 in the investment. LEARNING: Always look at debt-to-equity ratios, especially in a down market. Set percentage caps on the stocks in your portfolio.   “Bad things happen to good companies.”Joseph Hogue  Guest profileBorn and raised in Iowa, https://www.linkedin.com/in/josephhogueefficientalpha/ (Joseph Hogue) graduated from Iowa State University after serving in the Marine Corps. He worked in corporate finance and real estate before starting a career in investment analysis. Joseph has appeared on Bloomberg and CNBC and led a team of equity analysts for a venture capital research firm. He holds a master’s degree in business and the Chartered Financial Analyst (CFA) designation. Joseph left the corporate world in 2014 to build his online businesses, first through creating websites and later through his YouTube channel, https://www.youtube.com/channel/UCbKdotYtcY9SxoU8CYAXdvg (Let’s Talk Money). He’s since grown the community to over 500,000 and reaches more than 1.8 million people a month through his blogs, YouTube channel, and a weekly market newsletter. Subscribe to Joseph’s https://new-millennium-online-enterprises-llc.ck.page/f1eaab6c7a (free weekly market newsletter) to get an update on all the news, trends, and what he’s watching in the week ahead for stocks! Worst investment everIn 2014/15, high debt and low energy prices knocked the entire coal industry down. Regulators were circling, trying to limit the coal generation capacity in the United States. But still, a third of the US energy grid was generated by coal, so this was still a viable resource that people were using. The stocks in the energy industry were down by almost half. Joseph was fully aware of what was happening in the industry. He decided to do a bottom-up analysis of the stocks. He found Peabody Energy, the world’s largest private-sector coal producer at the time. The company had a solid market share and relatively good fundamentals relative to many other stocks in that sector. He started buying Peabody Energy stocks in 2015. At the time, the stock was already 50% lower from its peak just a couple of years ago. The stock kept falling, and he kept buying. Like many investors, Joseph fell into the gamblers’ trap. Eventually, he was just praying to get even. Peabody Energy ended up filing for bankruptcy in 2016, and in the process, Joseph lost about $30,000. This loss embarrassed him because he had already worked in the industry for about four years and had passed all three levels of the CFA in 2011. He was a charterholder and had worked with venture capital and private wealth management. Still, Joseph just ignored the basics of investing. He thought he had a strong investment case in that coal was still something the US would need to generate electricity. The world was not about to get rid of it overnight. A lot of these stocks seemed to be trading at a discount. Joseph picked the one stock he thought had the financial size and scope to survive, supposedly, but it didn’t survive. Lessons learnedWhen buying a specific industry is down, always consider the debt-to-equity ratios. This will help you know if the company can survive this period of market weakness. Just because you think a company or even an entire industry is indispensable doesn’t mean that that specific company can’t file for bankruptcy or that it can’t wipe out its shareholders. Don’t think any companies or investors are sacrosanct. Set percentage caps on the stocks in your portfolio. Bad things...
Jun 12, 2022
Priya Kumar – Don’t Trust Somebody With Your Money Blindly
25:10
BIO: Priya Kumar is an internationally acclaimed motivational speaker, bestselling author, and now screenwriter. She has written 15 inspirational books that have won 42 international awards. STORY: Priya ignored the need to learn basic accounting and instead left her money matters in the hands of her accountant. The accountant took advantage of her ignorance and swindled all her money. LEARNING: Learn basic accounts and finance. Analyze your profit and loss statement and balance sheet every month.   “Learn accounts so that you’re always aware of where your money is going.”Priya Kumar  Guest profilehttps://www.linkedin.com/in/priyakumar-motivationalspeaker/ (Priya Kumar) is an internationally acclaimed motivational speaker, bestselling author, and screenwriter. She has written 15 inspirational books that have won 42 international awards. She has worked with over 2000 multi-national corporates across 47 countries and has touched over 3 million people through her workshops and books. Priya has written over 700 columns for national and international publications. The media have extensively featured her work in India and abroad, and she has been invited as a celebrity guest on several business, entertainment & reality shows. Priya was awarded the Times of India, Speaking Tree, and Good Karma Award as India’s most Inspirational Author. Known as The Biography Specialist, Priya is currently penning the official biography of Mr. Pullela Gopichand, the Olympics Badminton Coach. Priya wrote the biography of Late Shri O.P. Munjal, the founder of the Hero Group, and Subhashish Chakraborty, the founder of DTDC, which made it to the most famous biography of 2015 on Amazon. Worst investment everPriya didn’t know anything about finance or accounting, so she hired an accountant to manage her money. She didn’t know that he was stealing her money through forgery and deceit to the point that Priya had no money in the bank. The theft went on for a year and a half. Circumstances aligned, and it came to Priya’s notice through her bank that she had issued some checks, which she hadn’t. She reported the whole thing to the police, and the accountant was caught. However, there was no way to bring the money back. It’s been six years, and the case is still in court. Priya is yet to get any money back. Lessons learnedWhen you delegate your accounts to somebody, put systems around it. Learn finances and accounting so that you’re always aware of where your money is going. Andrew’s takeawaysMake sure you get your profit and loss statement and your balance sheet every month. Reconcile your accounts at the end of every month. You don’t need to become a financial or accounting specialist. Just learn the basics. Actionable adviceIf you want to be wealthy and protected, invest in learning finance basics. No.1 goal for the next 12 monthsPriya’s goal for the next 12 months is to be centered and solid and do whatever it takes for her to find herself. Parting words  “Be responsible. Whatever happens, it is your doing and your creation.”Priya Kumar  [spp-transcript]   Connect with Priya Kumarhttps://www.linkedin.com/in/priyakumar-motivationalspeaker/ (LinkedIn) https://www.facebook.com/authorpriyakumar/ (Facebook) https://twitter.com/kumarpriya (Twitter) https://www.instagram.com/priyakumar7272/ (Instagram) https://www.youtube.com/user/priyakumar1973 (YouTube) https://www.priya-kumar.com/ (Website) https://amzn.to/3aCMWPi (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Jun 09, 2022
Mario Bekes – You Don’t Know Everything, So Keep Learning
24:01
BIO: Mario Bekes began his career with the Department of Defence Republic of Croatia in Military Police/Security Services for seven years. In 1998 he worked for the Department of Foreign Affairs Republic of Croatia in Security Intelligence Services, secondment in Republic of Croatia Consulate General in Sydney for five years before founding Insight Intelligence in 2003. STORY: Mario allowed his ego to make him believe that he knew everything there is to know about running his business, and so he failed to invest in learning. LEARNING: Be open to continuous learning because you can never know everything.   “Foundations are critical in business, but you can only establish them when you work on yourself.”Mario Bekes  Guest profilehttps://www.linkedin.com/in/mariobekes/ (Mario Bekes) began his career with the Department of Defence Republic of Croatia in Military Police/Security Services for seven years. In 1998 he worked for the Department of Foreign Affairs Republic of Croatia in Security Intelligence Services, secondment in Republic of Croatia Consulate General in Sydney for five years before founding https://insightintelligence.com.au/ (Insight Intelligence) in 2003. Mario is proficient in 3 languages (English, Croatian and Russian). He has published five books, including “https://amzn.to/3aAmPII (Corporate and Workplace Investigations),” published in August 2018, and his latest best-seller on Amazon, “https://amzn.to/3azRhCs (The Blood Soaked Soil),” published in September 2021. He is also the designer of software programs (Intelligent Risk Manager, Intelligent HR Recruiter, and Online Task Manager) and pioneering and architecting the application of psychology in the corporate environment as a tool for preventing fraud and increasing the success rate in investigations. Mario conducted numerous internal and external investigations in corporate and government sectors in Australia and overseas, particularly in human intelligence and competitive business intelligence. If you’re happy to be interviewed on his radio show “https://www.alive905.com.au/series/life-the-battlefield/ (Life: The Battlefield)” and share your knowledge, experience, and how to deal with obstacles in life, business contact Mario on any of the platforms shared below and quote “A. Stotz Academy.” Worst investment everMario believed that the world owed him and that nobody knew more than he did. With these beliefs, Mario saw no need to learn new things. His worst investment was not listening to the business environment and absorbing from the experts. Mario instead invested in his alter ego, which drove him into insanity. His ego made him believe that having beautiful business cards, a beautiful desk, and everything else would make him a successful businessman. So he refused to learn how to run his business. The result was two years of struggling to understand the business and losing money. Lessons learnedBe open to continuous learning because you can never know everything. Associate yourself with experts to enhance your understanding of the business environment. Andrew’s takeawaysDesign your product and service in a way that it can be scaled. Actionable adviceInvest in proper planning and proper financial structure as you build your business. Also, invest in people such as CFOs, and CEOs who can help you to run that business. No.1 goal for the next 12 monthsMario’s goal for the next 12 months is to reduce internal test fraud and criminal activity for all his clients, current and future ones. Parting words  “Please listen to this podcast.”Mario Bekes  [spp-transcript]   Connect with Mario Bekeshttps://www.linkedin.com/in/mariobekes/ (LinkedIn) https://www.facebook.com/insight.intelligence.7/ (Facebook) https://twitter.com/MarioBekes (Twitter) https://www.instagram.com/mariobekes/ (Instagram) https://www.youtube.com/channel/UC7UVCrNZDZShGiQGycr1PTw (YouTube) https://insightintelligence.com.au/ (Website)...
Jun 07, 2022
Toni McLelland – An Influencer Isn’t Always a Specialist
26:05
BIO: Toni McLelland MSc resides in London, England, UK, and spends time in Wales. She is a critical friend, business mentor, and founder of The Compassionate Business Model. STORY: Toni hired someone on social media she thought would help her in an area she was interested in. The individual was an influencer and not an expert in the area. LEARNING: Do your homework and due diligence. Excellent professionals should have no problem providing you with recommendations.   “Watch for commitment and consistency from professional service providers.”Toni McLelland  Guest profilehttps://www.linkedin.com/in/toni-mclelland-msc-criticalfriend-tonisfairydust/ (Toni McLelland) MSc resides in London, England, UK, and spends time in Wales. She is a critical friend, business mentor, and founder of https://1stlifegroup.com/services/the-compassionate-business/ (The Compassionate Business Model). Toni is an inspirational people leader who is passionate about navigating C Suite and board members through the world of business, crisis, and change management in her work around organizational culture. Specializing in Social Impact, Social Justice, and Social Mobility business, she works with leading established organizations and brings the learning back to start-ups serving vulnerable groups. A previous Central Government employee, she brings a wealth of experience. She is adept at contingency, regulation safeguarding, and compliance in business while showing business leaders how to be compassionate and profitable. Toni holds weekly LinkedIn live shows - Mondays at 1.30 pm BST, Audio rooms -Wednesdays at 6.30 pm BST & Fridays at 1.30 pm BST. Lastly, she sprinkles around her own much-needed #TonisFairyDust. Get her Complimentary consultation book https://1stlifegroup.com/contact/ (here). Worst investment everToni was on a social media platform and had been watching this person for a very long time. They had a vast following and a lot of engagement. Toni thought that they knew what they were talking about. She needed some help in that area, so she reached out to the person and invested in her services. Toni was sure that she would get specialist help. In reality, she found herself working with an influencer who had no expertise in the industry she worked in. Lessons learnedDo your homework and due diligence. When engaging someone online for professional help, ensure that they understand what you need and not just spend their time as an influencer. Always get a recommendation and check out testimonials about the professional whose services you’re interested in hiring to confirm there are any guarantees with what they’re saying they’re capable of delivering. Andrew’s takeawaysExcellent professionals should have no problem providing you with recommendations. Actionable adviceListen to that inner voice telling you something’s not right. No.1 goal for the next 12 monthsToni’s goal for the next 12 months is to touch as many people as possible with her learning. Parting words  “When you stop learning, you stop growing.”Toni McLelland  [spp-transcript]   Connect with Toni McLellandhttps://www.linkedin.com/in/toni-mclelland-msc-criticalfriend-tonisfairydust/ (LinkedIn) https://www.facebook.com/profile.php?id=100078228044879 (Facebook) https://twitter.com/1stLifeGroup (Twitter) https://www.youtube.com/channel/UCmAdMP6qCjYo4gyDTCOutfA (YouTube) https://1stlifegroup.com/services/the-compassionate-business/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How
Jun 05, 2022
Michelle Hon – Don’t Build a Business Only to Boost Your Ego
25:43
BIO: Michelle Hon is the author of The Chill Mom, founder, and business coach for moms at MomBoss Academy. STORY: Michelle spent half of her life savings on a soup and salad bar that she had to close down after a month due to the wrong location. LEARNING: Don’t build a business for yourself or boost your ego. Build a business because it fills a market gap. Build systems and frameworks that enable you to implement and replicate your business ideas.   “Swallow that humble pie and ask for help from experts.”Michelle Hon  Guest profilehttps://www.linkedin.com/in/michhon/ (Michelle Hon) is the author of https://amzn.to/3MoTqhX (The Chill Mom), founder, and business coach for moms at https://www.momboss.academy/ (MomBoss Academy). She was named by Zine as one of the “Top 10 Mommy Influencers in the World,” and she’s been featured regularly on Channel News Asia, The Asian Entrepreneurs, Lifetime Asia, Asian Money Guide, SmartParents, and many other publications. Worst investment everIn 2010, Michelle decided to open a soup and salad bar after working in employment since age 16. She spent almost a year researching and coming up with a thick business plan. She got a space, renovated it, formulated the recipe, and was ready to open the doors. Within the first month of business, she knew the company would not work because it was in the wrong location. Lessons learnedDon’t build a business for yourself or just to boost your ego. Build a business because it fills a market gap. Get advice from someone in the same business space. Borrow from systems and frameworks that successful people or businesses are using instead of trying to build new ones. Andrew’s takeawaysBuild systems and frameworks that enable you to implement and replicate your business ideas. Don’t get so excited about your idea and forget to focus on how to implement it. Actionable adviceSlow down and find people who have done this before and ask them about their systems and the critical things that have gotten them to where they are today. No.1 goal for the next 12 monthsMichelle’s goal for the next 12 months is to take her family on holiday. Parting words  “Just go for it. We have this one sweet life. Whatever you want to do, just go for it. You never know where it will take you.”Michelle Hon  [spp-transcript]   Connect with Michelle Honhttps://www.linkedin.com/in/michhon/ (LinkedIn) https://www.instagram.com/thechillmom/ (Instagram) https://twitter.com/thechillmom (Twitter) https://podcasts.apple.com/sg/podcast/the-chill-momboss-build-a-profitable-business-from/id1476131353 (Podcast) https://www.momboss.academy/ (Website) https://amzn.to/3MoTqhX (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst...
Jun 02, 2022
Leonard Kim – Avoid Investing in Pink Sheets Stocks
28:36
BIO: Leonard Kim is the worst investor you will ever meet and has made countless mistakes. STORY: Leonard invested over $6,000 in penny stocks and preferred shares whose value went to less than a penny. LEARNING: Avoid stocks on the OTCBB; trade in the NASDAQ shares instead. Focus on the company’s ability to make profits instead of the stock price.   “Don’t invest in stocks that are at the sub-penny level.”Leonard Kim  Guest profilehttps://www.linkedin.com/in/mrleonardkim/ (Leonard Kim) is the worst investor you will ever meet. He’s made countless mistakes like investing in stocks on the https://www.investopedia.com/terms/p/pinksheets.asp (Pink Sheets), https://www.investopedia.com/terms/o/otcbb.asp (OTC Bulletin Board (OTCBB)), and companies bound for bankruptcy like MoviePass. He’s bought preferred shares from public companies that have gone bust and invested in private companies that have failed. On the contrary, he’s an extraordinary marketer who has won countless awards and been recognized as a top marketer by Forbes, Brand 24, MadCon, and more. He’s also done an internationally recognized TEDx Talk and is the author of https://ditchtheact.com/ (Ditch the Act), a book on personal branding and humanizing your company with McGraw Hill business. Worst investment everLeonard put money in a https://www.investopedia.com/terms/p/pennystock.asp (penny stock) that he thought had the potential to go up, and it did. It hit $7, but it quickly went down to 50 cents, so Leonard lost his money. Leonard also invested $6,000 in a company whose stock was listed in the OTCBB and sold for around 50 cents. The company sold series B preferred shares with a one-year hold where you couldn’t sell them. After a year, the stock was trading at less than a penny, and it’s still at that value to date. Lessons learnedAvoid stocks on the OTCBB; trade in the NASDAQ shares instead. Don’t invest in stocks that are at the sub-penny level. Handle your investments by yourself. Invest in stable investments like oil. Andrew’s takeawaysFocus on the company’s ability to make profits instead of the stock price. Avoid investing with friends. Actionable adviceBuild a conservative investment profile and figure out how to invest more. No.1 goal for the next 12 monthsLeonard’s goal for the next 12 months is to continue creating value through his content. Parting words  “The secret to marketing yourself is to differentiate yourself.”Leonard Kim  [spp-transcript]   Connect with Leonard Kimhttps://www.linkedin.com/in/mrleonardkim/ (LinkedIn) https://www.instagram.com/mrleonardkim/?hl=en (Instagram) https://twitter.com/MrLeonardKim (Twitter) https://www.voiceamerica.com/show/2693/grow-your-influence-tree (Podcast) https://ditchtheact.com/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
May 31, 2022
Vanessa Ho – Dig Deep Into the Business Model
24:58
BIO: Vanessa Ho built a student-alumni-run angel investment network and educates students and fresh graduates on startup and private sector investments. STORY: Vanessa invested blindly in a startup she was introduced to by an angel investor. She never did any research. There was no market for the company’s product, so it never made any returns. LEARNING:  Dig deep into the business model and ensure the startup has a product that the market needs. Don’t invest in a company just because it’s popular and others do it.   “Learn the fundamentals of angel investing.”Vanessa Ho  Guest profilehttps://www.linkedin.com/in/vanessahomeiqi/ (Vanessa Ho) built a student-alumni-run angel investment network and educates students and fresh graduates on startup and private sector investments. Formerly she was a venture capital analyst and a social media content creator and host. Currently, she is in a socialfi startup called https://www.socol.io/ (So-Col) doing business development and marketing. Worst investment everAn angel investor introduced Vanessa to a company dealing with paywalls for media outlets. The company looked good on paper, and Vanessa trusted the angel investor, so she didn’t do a lot of due diligence. She simply put money into the company blindly. She didn’t even read the investment contract. Three months later, the company hadn’t made any progress, and the owners were getting worried about sustainability. Vanessa kept checking the news, and many months later, she realized that the company wasn’t going anywhere. She decided to write it off. Lessons learnedDon’t be swayed by big founder names and glamorous titles. Dig deep into the business model and ensure the startup has a product that the market needs. Do your due diligence even if other angel investors are backing up the startup you want to invest in. Andrew’s takeawaysDon’t invest in a company just because it’s popular and others do it. Don’t invest in a startup if you don’t have enough money to risk or if you’re new to investing. Weigh your risk before you invest in a startup. Invest in 10 startups, never in just one. Actionable adviceLearn the fundamentals of angel investing before putting your money into it. No.1 goal for the next 12 monthsVanessa’s goal for the next 12 months is to build a syndicated fund to bring value to private sector investing.   [spp-transcript]   Connect with Vanessa Hohttps://www.linkedin.com/in/vanessahomeiqi/ (LinkedIn) https://www.socol.io/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
May 29, 2022
Jitender Girdhar – Question Opinions and Beliefs
31:53
BIO: Jitender Girdhar is a best-selling author, TEDx speaker, entrepreneur, Op-Ed writer at The Times of India, mentor, and NLP professional. STORY: Jitender’s worst investment ever was not investing in growing his mind when he was younger. This saw him make poor investments. LEARNING: Your beliefs and opinions become your identity. Leave past knowledge and beliefs behind and be curious to learn new things.   “The action everybody needs to take is to question their strong belief. Questioning is the beginning of intelligence.”Jitender Girdhar  Guest profilehttps://www.linkedin.com/in/jgirdhar/ (Jitender Girdhar) is a best-selling author, TEDx speaker, entrepreneur, Op-Ed writer at The Times of India, mentor, and NLP professional. He is best known for his articles on Mind & Body, Human Behavior, and Cricket, and for his thought-provoking book https://amzn.to/39Un3K4 (Think EPIC), which became a #1 international bestseller in just a few months and got success in various countries. His contributions to multiple disciplines broadly address the narratives of human behavior. He has a great following on https://www.linkedin.com/in/jgirdhar/ (LinkedIn) and is an ardent reader and a sports fanatic. Worst investment everJitender’s worst investment ever was not working on growing his mind after completing his education. Instead, he spent all his energies working to rise through the ranks. He ended up making wrong investments and lost money by ignoring his mind. He wishes he had spent more energy when he was younger to improve his mind. Lessons learnedStop living a mechanical life. You won’t get much out of it. To create something new and see things from a fresh perspective, you need to leave past knowledge and memory behind. Your beliefs and opinions become your identity. Andrew’s takeawaysStart safe, then start thinking freely as you grow older. Actionable adviceQuestion opinions and beliefs, and be curious. No.1 goal for the next 12 monthsJitender’s goal for the next 12 months is to keep learning and sharing. Parting words  “Stay hungry for learning. Stay foolish, and when somebody says something against your opinion, you won’t get hurt.”Jitender Girdhar  [spp-transcript]   Connect with Jitender Girdharhttps://www.linkedin.com/in/jgirdhar/ (LinkedIn) https://twitter.com/jgirdhar01 (Twitter) https://www.facebook.com/JGirdhar01/ (Facebook) https://www.instagram.com/jg.author/ (Instagram) https://www.jitendergirdhar.com/ (Website) https://amzn.to/39Un3K4 (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
May 26, 2022
Anthony Milewski – Do You Understand the Country Risk?
34:19
BIO: Anthony Milewski is an investing veteran and Chairman of Nickel 28 – a battery metals-focused investment company focusing on metal streaming and royalty agreements. STORY: Anthony and a friend partnered to drill oil in Indonesia. They pooled $10 million and hit the ground running. After facing one disaster after another, the partners gave up on the venture, having spent all the money, and not a single well was dug. LEARNING: Understand the context of the foreign country you’re investing in—research both the expected return and expected risk.   “Why are you investing? Do you need to do this? What’s the alternative?”Anthony Milewski  Guest profilehttps://www.linkedin.com/in/anthonymilewski/ (Anthony Milewski) is an investing veteran and Chairman of Nickel 28 – a battery metals-focused investment company with a focus on metal streaming and royalty agreements. The company trades on the Toronto stock exchange. Anthony has been active in the battery metals industry, including investing in cobalt and actively trading physical cobalt. Previously, he was a member of the investment team at Pala Investments Limited, a leading venture capital firm. Worst investment everA former partner and friend in Australia shared an idea with Anthony about these oil drilling blocks coming up for auction in Indonesia. Anthony figured it was a good idea, and so the two partnered and raised roughly $10 million. They were awarded a block. The two partners thought they were to drill a couple of wells and become oilmen. It never happened. They faced one disaster after another, from corruption locally to landowners fighting them to the inability to mobilize because they were being held to ransom by locals. Ultimately, they spent all the money they had raised but never drilled a well. The partners’ undoing was their naivety to how complicated it would be to do an oil and gas deal with local landowners without a strong local partner. Lessons learnedUnderstand the context of the foreign country you’re investing in. If a return feels out of whack, even if experts are right, always make sure that you understand the risk. When you see a return that looks like an outsize return, ask why? Then identify what the why is because that is the risk. Andrew’s takeawaysSplit your research between the expected return and expected risk. Reducing risk reduces the expected return. Understand your investment environment. Actionable adviceBe thoughtful when investing in places where you don’t know anything about. Work with a management team that has an edge in that place. And if you don’t trust that investment, buy something else. No.1 goal for the next 12 monthsAnthony’s goal for the next 12 months is to do a triathlon.   [spp-transcript]   Connect with Anthony Milewskihttps://www.linkedin.com/in/anthonymilewski/ (LinkedIn) https://twitter.com/A_Milewski (Twitter) https://www.nickel28.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook)...
May 24, 2022
John Spence – Don’t Let Material Things Define You
30:21
BIO: John Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs. STORY: When John was a young CEO of one of the Rockefeller Foundations, he invested in the trappings of a CEO, such as big houses, boats, wines, artwork, etc., all in the name of impressing people. All these things were lost in days when Hurricane Andrew hit Miami. LEARNING: Don’t let material things define you. The ultimate freedom is the freedom of mind. The accumulation of things is uncorrelated to happiness.   “Be grateful for everything you have now.”John Spence  Guest profilehttps://www.linkedin.com/in/johnbspence/ (John Spence) is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs. John is recognized as one of the top business thought leaders and leadership development experts in the world and was named by the American Management Association as one of America’s Top 50 Leaders to Watch, along with Sergey Brin and Larry Page of Google and Jeff Bezos of Amazon. As a consultant and coach to organizations worldwide, from startups to the Fortune 10, John is dedicated to helping people and businesses be more successful by “Making the Very Complex… Awesomely Simple.” Worst investment everJohn became the CEO of one of the Rockefeller Foundations when he was 26 years old. This saw him earn a significant salary. John decided to use his earnings to invest in houses, boats, artwork, wine collections, and everything else that were the trappings of being the CEO of a multinational company. At a young age, John thought that those were the things that would impress other people. In 1989, Hurricane Andrew hit Miami and destroyed everything John owned. In just a matter of days, all his properties and belongings were gone. John had invested so much time, energy, effort, and ego in all that stuff, and it was all taken away in one day. Lessons learnedEven when you suffer a significant loss, stay focused on your values and remember that others have been through worse. Material things are lovely, but they don’t define you. You’re stronger than you think you are. Be grateful for everything you have now. Andrew’s takeawaysThe ultimate freedom is the freedom of mind—the freedom to think and detach. The accumulation of things is uncorrelated to happiness. Actionable adviceLook at the things that are truly important and valuable in your life. No.1 goal for the next 12 monthsJohn’s goal for the next 12 months is to learn more and meet more people. Parting words  “Just live by your values, treat other people with love and have fun.”John Spence  [spp-transcript]   Connect with John Spencehttps://www.linkedin.com/in/johnbspence/ (LinkedIn) https://twitter.com/awesomelysimple (Twitter) https://www.facebook.com/johnspenceleadership/ (Facebook) https://www.instagram.com/johnspencespeaker/ (Instagram) https://www.youtube.com/user/flycasterjbs (YouTube) https://johnspence.com/ (Website) https://amzn.to/39BdVdd (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
May 22, 2022
Brian Golod – There Isn’t an Overnight Success
35:25
BIO: Brian Golod was born and raised in Buenos Aires, Argentina. His parents asked him what he wanted to do for a living when he was 13 years old, and somehow he knew, at least for the following 21 years. STORY: Brian invested $25,000 in a new company belonging to a man he’d known for just a few days. LEARNING: Don’t trust blindly; ask questions. Be careful of the appeal to authority fallacy.   “Pace yourself. There’s nothing like an overnight success.”Brian Golod  Guest profilehttps://www.linkedin.com/in/briangolod/ (Brian Golod) was born and raised in Buenos Aires, Argentina. His parents asked him what he wanted to do for a living when he was 13 years old, and somehow he knew... at least for the following 21 years. He studied Computer Science at the number one middle and high school in Argentina and got an early start. Before turning 20 years old, his family immigrated to Canada. After working for the Government of Canada twice, tech multinationals, startups, and everything in between, he realized he was able to help professionals get back on their feet and advance in their careers. He started doing this on the side for free, just trying to give back to society, and eventually realized he couldn’t live the rest of his life without pursuing his purpose, what he was born for. He says it’s impossible to describe how he feels every time someone gets the job they want with his help. Worst investment everBrian was working as a production support developer for a multinational in Toronto when he was introduced to a family. He was invited to their place for dinner and got to know the family. There was immediate trust, especially because of the person who introduced him to the family. Brian learned that the man of the family wanted to branch out of where he was working as CFO and start something very similar to what he was doing. The man mentioned this to Brian, and because of his title, his responsibility at the organization where he was working, and the size of that organization, Brian believed the man must know what he was doing. Brian told him that he’d be the first one to support him right off the bat. He invested $25,000 in the man’s business. Additionally, Brian was convinced to quit his job and join the new company full time. The mistake the man made was buying a lot of inventory and having no clients. So all the money that he had raised, not just from Brian but from many others, about $300,000, went to inventory, yet there was no cash flow. The product just sat in a container in one of those storage rooms. The duo couldn’t sell for different reasons, so the company tanked. Lessons learnedDon’t trust blindly. If you’re going to put money towards something, ask a billion questions. Just because someone has the title and has been doing this somewhere else doesn’t mean that they actually know how to do it all from scratch. Don’t be greedy or invest more than you can afford to lose. Communication is very important. Communicate with the people that you work with and with your suppliers. Make sure that everything is written, especially when working with suppliers. Pace yourself. There’s nothing like an overnight success. Andrew’s takeawaysTrust takes time Be careful of the appeal to authority fallacy. The first job of a business is to try to get the cash flowing. Preserve relationships. Actionable advicePause and listen to someone else’s perspective. If you have a significant other or someone you trust who has your best interests at heart, and can potentially be affected by your decision, seek their full support. No.1 goal for the next 12 monthsBrian’s goal for the next 12 months is to scale his service to serve as many people as possible, build partnerships and reach every professional who needs this solution. Parting words  “If you’re not feeling excited, you’re not jumping out of bed to do what you do. Please don’t settle for less. We’re given this one life. Just make the most out of...
May 19, 2022
Nat Berman – You’re Smart Enough to Invest on Your Own
35:41
BIO: 15 years of experience running his own business, more than enough money, time, and freedom; now Nat Berman teaches the practical steps he’s taken to achieve these results in what now takes only 3-4 hours a day. STORY: Nat got wind of a stock that Jim Cramer would tout on his show and invest in. Nat decided to invest $30,000 in the stock without further research. He lost the money in a short period. LEARNING: Do your research. Never buy a stock that somebody tells you about.   “Pause. Read. Invest.”Nat Berman  Guest profileAfter fifteen years of experience running his own business, more than enough money, time, and freedom, now https://www.linkedin.com/in/nathanielberman/ (Nat Berman) teaches the practical steps he’s taken to achieve these results in what now takes only 3-4 hours a day. Worst investment everNat knew a guy that worked for Jim Cramer directly. He got wind of the stock that Cramer was going to tout on his show and would put in his charitable trust. Nat put in $30,000. He lost a lot of it in a short amount of time. Lessons learnedDo your own research, assess your risk, and understand what you’re comfortable losing. Everybody is smart enough to make their own investments. Andrew’s takeawaysInvest in the S&P 500 or an index fund if you’re learning how to invest. Never, ever buy a stock that somebody tells you about. Make your decision that this is the stock that you want to own for a particular reason. Build a portfolio of about 10 stocks to diversify your risk. Actionable adviceWhenever someone tells you about an amazing stock, pause, read about it, and see what kind of news there is about it. Check out the financials too. Just don’t do anything for at least 24 hours to a week. No.1 goal for the next 12 monthsNat’s goal for the next 12 months is to be proud of himself and be able to look into the mirror every day and know that he’s satisfied and comfortable with where he is. Parting words  “Stay focused.”Nat Berman  [spp-transcript]   Connect with Nat Bermanhttps://www.linkedin.com/in/nathanielberman/ (LinkedIn) https://www.facebook.com/uncoached/ (Facebook) https://www.instagram.com/realnatberman/ (Instagram) https://www.tiktok.com/@uncoached (TikTok) https://www.youtube.com/channel/UCRglWniQUVhIjjNIJ4tk9tA (YouTube) https://uncoached.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
May 17, 2022
Dave Buck – Have a Purpose for Your Investments
29:07
BIO: Dave Buck is fascinated by the concept of time and how it is applied in everyday life. It is one of the main reasons he started Kairos Management Solutions. STORY: Dave was a very disciplined saver and investor from the time he got his first job when he was 16. The only mistake he made was not managing his portfolio according to the lifestyle he wanted to live in retirement. LEARNING: Start to save for the future today. Have goals for your savings.   “Manage your portfolio to match the desired lifestyle you want to have.”Dave Buck  Guest profilehttps://www.linkedin.com/in/davidsbuck/ (Dave Buck) is fascinated by the concept of time and how it is applied in everyday life. It is one of the main reasons he started https://kairosmanagementsolutions.com/ (Kairos Management Solutions). Kairos is one of the Greek words for time, tied to accomplishing a crucial action or performing in a decisive moment. Through his company, Dave offers a variety of services from individual and corporate time management, leadership management, retirement and lifestyle time management, and sales productivity enhancement. The corporate mission of Kairos Management Solutions and Dave is to help people move their time from finite to infinite. Worst investment everDave got his first job when he was 16, and from then, he started to save diligently until he was in his 50s. When he approached retirement age, he realized that he didn’t know what he wanted to do with the funds he’d been saving for years. He had not aligned his investments with the retirement lifestyle he wanted, and now he wasn’t sure if the funds were even enough to lead the life he wanted. Lessons learnedStart to save for the future today. Adopt a broader strategy of the purpose of the funds you’re saving and how that purpose aligns with your lifestyle. Start by saving a small amount, even if it’s just 5% of your income, and be consistent. Andrew’s takeawaysHave goals for your savings. Are you saving for the sake of saving? What is the purpose of the funds you save? Be frugal, be careful with your money, but stay focused on saving it. Actionable adviceGet started with saving, be disciplined and keep at it. It’s okay to pause due to various factors. Just don’t stop forever. Your portfolio can grow if you’re not contributing to it but get back to contributing for as long as you possibly can. No.1 goal for the next 12 monthsDave’s goal for the next 12 months is to implement his initial business strategy to such a point that he doesn’t have to draw on his current savings plan. Parting words  “As you plan projects, invest your time as you look to how you manage it. Take what you do and add 20% to it. It’s always going to take longer than what you anticipate.”Dave Buck  [spp-transcript]   Connect with Dave Buckhttps://www.linkedin.com/in/davidsbuck/ (LinkedIn) https://www.youtube.com/channel/UCNkgmAn9X4fi7Lj9DKu4fIg (YouTube) https://kairosmanagementsolutions.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn)
May 15, 2022
Akshat Malik – Don’t Get Too Invested in Just One Partner or Brand
22:38
BIO: Akshat Malik, a serial entrepreneur, a risk-taker during the week, and a happy dog dad on Sundays, has undoubtedly had his good and bad investments. STORY: Akshat’s company partnered with a brand and focused on helping it grow. The brand grew 100x, which was good for the company. But, the brand started partnering with other people, which led to Akshat’s company losing its market share and revenue. LEARNING: Don’t get too invested in just one partner or brand. Keep your debt down as low as possible.   “Never hesitate to speak about what’s on your mind.”Akshat Malik  Guest profilehttps://www.linkedin.com/in/akshatmalik/ (Akshat Malik), a serial entrepreneur, a risk-taker during the week, and a happy dog dad on Sundays, has certainly had his shares of good and bad investments! He started his entrepreneurial tryst early on in the times when e-commerce and e-services were just seeping in, trying to get a foot-holding in India. Fast-forwarding to today, he has revolutionized and enhanced the health and wellness industry by reshaping the niche in the cosmeceutical, derma, and nutraceutical sectors. He is the founder and CEO of https://www.clickoncare.com/ (ClickOnCare Retail Private Ltd). Worst investment everAkshat’s company engaged a particular brand to help build their entire segment and grow within the nutraceutical market. This partnership helped the company immensely as the brand grew 100x. But then, the brand had its own intentions of partnering with other people in the segment. Akshat’s company had placed all its focus on this one brand, and due to the new partnerships, the company started losing its market share, and its revenues got hit. Lessons learnedDon’t get too invested in just one partner or brand. Know your limits and your boundaries. Andrew’s takeawaysKeep your debt down as low as possible. Don’t have all of your revenue concentrated in just one or a small number of clients. If something happens to them, you’re going to be in trouble. Don’t allow any of the resources you have to be used in a way that doesn’t generate revenue. Actionable adviceNever hesitate to speak up. No.1 goal for the next 12 monthsAkshat’s goal for the next 12 months is to add a line of products that will help add brand value to the organization.   [spp-transcript]   Connect with Akshat Malikhttps://www.linkedin.com/in/akshatmalik/ (LinkedIn) https://twitter.com/akshatmalik (Twitter) https://www.facebook.com/akshat.malik.90/ (Facebook) https://www.instagram.com/akshatmalik/ (Instagram) https://www.youtube.com/c/clickoncaredotcom (YouTube) https://www.clickoncare.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
May 12, 2022
Gary Belsky – Long-Term Patience Is the Key to Success in Investing
51:43
BIO: Gary Belsky is co-author of Why Smart People Make Big Money Mistakes—And How To Correct Them: Lessons from the Life-Changing Science of Behavioral Economics and the former editor in chief of ESPN The Magazine and ESPN Insider.com. STORY: Gary waited for seven years to invest in the Berkshire Hathaway stock hoping the price per share would drop. He missed out on the compounding for the seven years and earned a 14% return instead of 18%. LEARNING: A stock isn’t cheap because it’s $5. A stock is cheap if the Price-to-Earnings ratio is low.   “In the short run, people regret actions, but in the long run, they regret inactions.”Gary Belsky  Guest profilehttps://www.linkedin.com/in/garybelsky/ (Gary Belsky) is co-author of https://amzn.to/3FGV8cN (Why Smart People Make Big Money Mistakes—And How To Correct Them: Lessons from the Life-Changing Science of Behavioral Economics.) The former editor in chief of ESPN The Magazine and ESPN Insider.com, Belsky is president of http://www.ellandroadpartners.com/ (Elland Road Partners), a storytelling consulting firm based in New York City. Worst investment everGary was working for Money Magazine when he got assigned to write a story about Warren Buffett in 1992. As he researched the story, Gary got convinced that Buffett was an investing genius. This convinced him to invest in the Berkshire Hathaway stock. However, the stock was selling at $8,000 a share at the time. Gary decided to wait for the stock price to go down. He invested in the stock in 1999. Had Gary invested in the stock in 1992, he would have had an average annual return of about 18%. But since he waited until 2009, he only got a 14% average annual return. Over that period, the market was up by about 9%. So he still outperformed the market, but he also missed the compounding between 1992 and 2009. Lessons learnedA stock isn’t cheap because it’s $5. A stock is cheap if the Price-to-Earnings ratio is low. The way people lose money in the stock market is not nearly so much about making bad investments. It’s about trading too often. Long-term patience is the key to success in the stock market. Andrew’s takeawaysTake advantage of the compounding effect because even if you’re an average stock picker, you’ll still have a massive amount of return if you invest for the long term. When you learn something, write it down, internalize it and implement it. You’ll be amazed at what you’ll have achieved when you look back 10 years later. Bring people into your decision. Even if it’s just one other person, you’re almost assured the decision will become better. As a startup, produce a monthly financial statement of your P&L, balance sheet, and cash flow, and talk to your management team about it once a month. Actionable adviceAsk yourself who’s the person that is most likely to annoy you if you asked them what they think about something and then ask them. No.1 goal for the next 12 monthsBrent’s goal for the next 12 months is to finish a project he’s working on.   [spp-transcript]   Connect with Brent Kochubahttps://www.linkedin.com/in/garybelsky/ (LinkedIn) https://twitter.com/GaryBelsky (Twitter) http://www.ellandroadpartners.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
May 10, 2022
Brent Kochuba – Know Who You’re Dealing With
31:44
BIO: Brent Kochuba is the Founder of SpotGamma, a financial insights company that applies its proprietary methodology toward modeling index and equity options and then provides unique content to its subscribers. STORY: Brent joined a former client as a trader in his fund. Five days after he started working at the fund, the market opened a limit down and halted trading. The fund lost so much money, and the only way out was to liquidate and shut down. LEARNING: Know whom you’re dealing with. Speak up and ask for clarification when things don’t make sense.   “If you’re in a position that is going to make you a lot of money, the risk is likely to be high too.”Brent Kochuba  Guest profilehttps://www.linkedin.com/in/brent-kochuba-22509a1/ (Brent Kochuba) is the Founder of https://spotgamma.com/ (SpotGamma), a financial insights company, which applies its proprietary methodology toward modeling index and equity options and then provides unique content to its subscribers. SpotGamma has thousands of members and has been featured in publications such as The Wall Street Journal and Bloomberg Markets. Worst investment everBrent had been in the institutional broker space for about 15 years when one of his clients—whom he knew reasonably well—decided to start his own fund. Brent chose to leave his then employer to work for this gentleman at this fund. This was in August of 2015. At the time, the gentleman ran a small account. He would short put options—insurance contracts that people often buy to protect themselves if the market declines. Brent was a trader, and the gentleman was the portfolio manager. Brent had been on the trading desk with the gentleman for five days, and on the third Friday of August, massive trades suddenly started to go off right at the close of trading. Two days later, the market opened a limit down and halted trading. The fund was losing money because the market was dropping. Frantically, they tried to hedge their portfolio but couldn’t and were forced to liquidate and shut down. Lessons learnedKnow whom you’re dealing with. Speak up and ask for clarification when things don’t make sense. The more money you stand to make from a position, the higher the risk. Andrew’s takeawaysBanks will always take away the umbrella just when it starts raining. Actionable adviceUnderstand what it is you’re involved in. Instead of looking for the shortcut, go with the tried and true ways of succeeding. No.1 goal for the next 12 monthsBrent’s company is part of a documentary coming out on MSNBC and Peacock. His goal for the next 12 months is to use this platform to educate people on the power of options and investing in the market.   [spp-transcript]   Connect with Brent Kochubahttps://www.linkedin.com/in/brent-kochuba-22509a1/ (LinkedIn) https://www.youtube.com/c/spotgamma (YouTube) https://spotgamma.com/blog/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)
May 08, 2022
Sourabh Goyal – Make Yourself a Priority in Your 20s
32:38
BIO: Sourabh Goyal is the Founder of SuccessBrew (a growth marketing company) and The Goalchy Club community that is focused on the personal and professional growth of people. STORY: Sourabh studied engineering, not out of choice, but because it’s what was expected of him. He hated it and believes he should have invested the four years of college in a much better way of knowing himself. LEARNING: Make yourself a priority in your 20s and build yourself in the manner that makes you happy.   “Experiment with life instead of going with the society-created life structure.”Sourabh Goyal  Guest profilehttps://www.linkedin.com/in/consultsourabh/ (Sourabh Goyal) is the Founder of https://www.linkedin.com/company/successbrew/?originalSubdomain=in (SuccessBrew) (a growth marketing company) and https://www.facebook.com/groups/goalchies (The Goalchy Club) community that is focused on the personal and professional growth of people. A LinkedIn influencer by accident and content creator with the intent of sharing his life experiences. Trained over 10k people across 7 countries on subjects like Goal Setting, Personal Branding, and Organic Social Media Strategies. Sourabh is also the Co-Author and Associate partner of the internationally bestselling and Golden Books of World Record holding https://amzn.to/3OWOp2j (The Growth Hacking Book #2). Worst investment everSourabh’s worst investment ever was studying engineering, not out of choice, but because it’s what society expected of him. Sourabh started college during the 2007/08 recession. When he finished college in 2011, there were no jobs. Sourabh believes he should have invested the four years of college in a much better way of knowing himself. Lessons learnedTake a pause, shut out all influence, think about what is best for you and jot down whatever comes to mind. If you go to college, go for your happiness, not to show people that you went to an Ivy League college. Make yourself a priority in your 20s. Build yourself, your joy, your learning, your career, and your growth, irrespective of what somebody else is doing. Andrew’s takeawaysThe foundation that we get from our parents is the foundation that we carry throughout our lives. Build a trusting family because that’s the ultimate strength to take you through life. Actionable adviceGrowth = mindset + skill set + tools. No.1 goal for the next 12 monthsSourabh’s goal for the next 12 months is to scale his community. He plans to hold many meetups and meet with at least 10,000 people across Dubai, the UK, the US, and Asia to bring them together and build a support system for each other.   [spp-transcript]   Connect with Sourabh Goyalhttps://www.linkedin.com/in/consultsourabh/ (LinkedIn) https://www.instagram.com/consultsourabh/ (Instagram) https://twitter.com/consultsourabh (Twitter) https://www.facebook.com/consultsourabh (Facebook) https://amzn.to/3OWOp2j (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook)...
May 05, 2022
Corina Burton – Learn to Trust Your Intuition
48:02
BIO: Corina Burton is the co-founder and co-owner of CPR Construction Cleaning, CPR Productions, and host of the Unstoppable podcast. STORY: Corina returned to an old job and gave up a good salary even though her gut told her not to. The old employer could not pay her, causing her to hit a financial rock bottom. LEARNING: Listen to your intuition.   “Business is not linear. Learn to pair your analytical and spiritual self.”Corina Burton  Guest profilehttps://www.linkedin.com/in/corina-burton/ (Corina Burton) is the co-founder and co-owner of https://cprclean.com/ (CPR Construction Cleaning), CPR Productions, and host of the https://podcasts.apple.com/us/podcast/unstoppable-with-corina-burton/id1606195142 (Unstoppable podcast). She is a mother of 4, serial entrepreneur, brand builder, marketing expert, and industry/generational disrupter. She has over 15 years of industry expertise in business-to-business authentic marketing, sales and brand building. Corina is an industry leader driven by her passion and skills in negotiating contracts, multi-seven-figure sales, business development, customer relationship management, event management, and brand recognition creator. As a mindset coach and marketing expert, Corina lives her life believing and knowing she is truly Unstoppable. Worst investment everCorina had been a stay-at-home mom for years. When she suddenly became a single parent, she decided to look for a job. Corina got employed in the construction industry, and she thrived. But soon, she felt like she had hit a glass ceiling. Corina decided to try something new when a recruiter in a different industry headhunted her and offered her a fantastic salary. After a while, Corina’s old employer approached her and asked her to go back. Even though her gut told her to say no, she returned to her old job. The company started struggling in just a few months and couldn’t pay her. In about eight months, Corina had run out of her savings. She was conflicted about what to do. If she walked away, she would lose everything and would never be able to recoup what her employer owed her. She would lose out on the time she spent and start over with another job. Eventually, after a year and a half, she decided to quit. Lessons learnedListen to your intuition. Andrew’s takeawaysHave intuition awareness. Don’t be asset-rich and cash poor. If you don’t have the cash you need when you need it, you’re facing a liquidity crunch. Beware of the physical warning signs. When you invest in a business, make sure you have monthly complete financial statements (a balance sheet, income statement, and cash flow statement). Close the books every single month. Actionable adviceNot everything analytically correct on paper is going to work. So pair logical and analytical. Write it down and make sure it makes sense. No.1 goal for the next 12 monthsCorina’s goal for the next 12 months is to have a stronger outreach. She’s focusing on the Unstoppable brand so that she can reach more people. Parting words  “Your circumstances don’t define you; your choices do 100%.”Corina Burton  [spp-transcript]   Connect with Corina Burtonhttps://www.linkedin.com/in/corina-burton/ (LinkedIn) https://www.instagram.com/corinaburton_/ (Instagram) https://www.youtube.com/channel/UC4uXCd90YYQ94QRrhQpB_DQ (YouTube) https://cprclean.com/ (Website) https://www.corinaburton.com/ (Blog) https://podcasts.apple.com/us/podcast/unstoppable-with-corina-burton/id1606195142 (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
May 03, 2022
MJ DeMarco – Do Not Sign an Earnout When Selling Your Business
21:13
BIO: MJ DeMarco is the international best-selling author of The Millionaire Fastlane, Unscripted, and the Great Rat Race Escape. He’s also the founder of Viperion Publishing and the Fastlane Business Forum. STORY: MJ sold his business in 2000 for $1.2 million. Of this, $700,000 was held in an earnout. Because of the recession, the buyer paid MJ $500,000. He put the money in tech stocks, but they imploded in just a few months. MJ lost everything he had invested. LEARNING: Never accept an earnout.   “Don’t let the stock market control your wealth.”MJ DeMarco  Guest profilehttps://www.linkedin.com/in/mjdemarco/ (MJ DeMarco) is the international best-selling author of https://amzn.to/3Km2d2X (The Millionaire Fastlane), https://amzn.to/3LrWutF (Unscripted), and https://amzn.to/3vpWSUg (the Great Rat Race Escape). His books have been translated in over 25 languages worldwide and he’s the founder of https://www.viperionpublishing.com/wp/ (Viperion Publishing), and the https://www.thefastlaneforum.com/community/ (Fastlane Business Forum), a global business and entrepreneurial community with over 70,000 users and nearly 1,000,000 contributions. Worst investment everIn 2000 MJ decided to sell his business for $1.2 million. $700,000 of this amount was held in an https://en.wikipedia.org/wiki/Earnout (earnout). This was at a period when the tech stocks were booming. A few months later, there was a recession, and MJ got $500,000 of the $700,000 owed. MJ put the entire $500,000 in tech stocks, and a few months later, the stocks imploded. He lost most of the money, and because he had not paid tax on this money, he owed almost as much as was left. MJ had to liquidate, and he had virtually nothing left of the $500,000. Lessons learnedDon’t tie all your wealth to the stock markets. Don’t accept an earnout when selling your business. Andrew’s takeawaysAlternatives to an earnout you should consider: Build a business with robust systems. Take a lower price Be an advisor and get paid for it. When building your business, always ask yourself if you’re overexposed to the market. No.1 goal for the next 12 monthsMJ’s goal for the next 12 months is to write another book related to goal setting and productivity. Parting words  “You only live once, so go after your dream, whatever it is, and do not live in fear.”MJ DeMarco  [spp-transcript]   Connect with MJ DeMarcohttps://www.linkedin.com/in/mjdemarco/ (LinkedIn) https://twitter.com/MJDeMarco (Twitter) https://www.facebook.com/TheMillionaireFastlane/ (Facebook) https://www.instagram.com/mj.demarco/ (Instagram) https://www.youtube.com/user/FastlaneMJ (YouTube) https://www.thefastlaneforum.com/community/ (Website) https://amzn.to/3Ki1NL2 (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
May 01, 2022
Shane Senior – Do Your Due Diligence Before Buying an ICO
34:33
BIO: Shane Senior is a British actor who started his acting career as a motivational public speaker. After losing a large sum of money in the cryptocurrency market, he changed his career into acting. STORY: Shane invested in cryptocurrency in 2017, and the investment was growing. He got greedy, took out the money from the currencies, and invested £500,000 in ICOs. Within as little as 18 months, he had zero money left. LEARNING: Don’t just jump on the bandwagon; do your due diligence. When you fail, learn lessons from your mistakes and move on.   “Do your due diligence and stick with what you know works, not what possibly will work.” Shane Senior   Guest profilehttps://www.linkedin.com/in/shanesenior/ (Shane Senior) is a British actor who started his acting career as a motivational public speaker, who by chance happened to fall in love with the art of character building. He has experience on set of a vast range of productions and he specializes in action acting, who is stage combat trained and an ex-serviceman with martial arts experience. Shane is also an author and motivational speaker who changed his career into acting after losing a large sum of money in the cryptocurrency market. Life changed for the better! Worst investment everShane started a law enforcement business, working on behalf of the magistrate’s court in the UK, conducting enforcement warrants. Surprisingly, the company turned out to be very successful, and Shane earned around half a million British pounds. This success made Shane get interested in investing. He started looking at various investment opportunities, including property. Shane even looked at buying multiple businesses and acquisitions. At one point, he got close to buying a taxi rank. However, he skipped those opportunities and joined the 2017/18 cryptocurrency bubble. Shane invested in Bitcoin and Ethereum—the two most prominent cryptocurrencies. The currencies were doing well. Unfortunately, Shane got greedy, and instead of waiting a little longer, he took his proceeds and invested about £500,000 in ICOs (initial coin offerings). He split the money into about 20 different companies. And within as little as 18 months, Shane had zero money left. Had Shane kept his money in Bitcoin and Ethereum for just two years, he’d now be sitting on 5-10 million pounds. Lessons learnedAlways do your checks on every part of that investment you’re involved with. It doesn’t matter if an investment fails. Don’t let it stop you from future ventures—simply learn the lessons from these mistakes. Andrew’s takeawaysDon’t just jump on the bandwagon because of the excitement; do your research first. ICOs, unlike IPOs, are tricky because they’re all about raising capital before the business idea has been put into action. Actionable adviceDo your due diligence and stick with what you know works, not what possibly will work. No.1 goal for the next 12 monthsShane’s goal for the next 12 months is to get the funding for a film he’s just pitched to Netflix and make that film a reality. Parting words  “For every outcome, there is a positive to it.” Shane Senior   [spp-transcript]   Connect with Shane Seniorhttps://www.linkedin.com/in/shanesenior/ (LinkedIn) https://twitter.com/ShaneSeniorUK (Twitter) https://www.facebook.com/ShaneSeniorUK (Facebook) https://www.instagram.com/shanesenioruk/ (Instagram) https://amzn.to/3Kj0FqC (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock
Apr 28, 2022
Gisela Hausmann – The Story of How Jeff Bezos’ Amazon Considered My Suggestions
34:46
BIO: Gisela Hausmann is one of a dying breed of adventurers – she digs in and researches topics of interest from the ground up, then tells things as she sees them. STORY: Gisela published a book about her time working at Amazon. In the book, she suggested what Amazon should do to improve working conditions. Amazon implemented these suggestions. LEARNING: Know who your friend is and who is not. Look at criticism as an opportunity.   “If you just get going and try to do your thing, you’re probably gonna get it.”Gisela Hausmann  Guest profilehttps://www.linkedin.com/in/gisela-hausmann-03404913/ (Gisela Hausmann) graduated with a master’s degree in film & mass media from the University of Vienna, the oldest university in the German-speaking world. She is one of a dying breed of adventurers – she digs in and researches topics of interest from the ground up, then tells things as she sees them. An author of two dozen books, her work has been featured in regional, national, and international publications, including GeekWire, Inc, Success (print magazine), Entrepreneur, and Bloomberg’s podcast ‘Decrypted.’ She is also the winner of the 2016 Sparky Award “Best Subject Line.” Born to be an adventurer, she hiked in the Himalayas and the Gobi Desert, crossed Russia on the Trans-Siberian Railway twice, and meditated in the Dalai Lama’s private room at the Potala Palace in Lhasa, Tibet. Her motto is: “Don’t wait. The time will never be just right.” – Napoleon Hill Worst investment everGisela has written very many books throughout her career as an author. Her books have won various recognitions, including Kindle book review awards, and have been featured on Success Magazine and Bloomberg podcast. At some point in Gisela’s career, many of the cheaters came in and made her life miserable on Amazon. So she decided to have a downtime phase and went to work in Amazon’s logistics department. While working at Amazon, Gisela found out that all the many principles that the company preaches did not happen there. She even wanted to quit at some point because she was miserable there. Then came COVID, and Gisela was now stuck where she didn’t want to be. Gisela then came up with a great idea to write a book about her experience at Amazon and published the book. She thought the journalists who constantly investigated everything about Amazon would be thrilled to finally hear from a logistics professional about what needed to be done. But they were not interested in her book. When Gisela submitted her book on Amazon, it took 104 hours for it to be put online. In most cases, it takes a maximum of 72 hours for a book to be approved. Gisela would soon learn why her book took so long to be published on Amazon. Amazon’s legal department forked over this book in every little detail. Then they literally went ahead and took many of the changes Gisela suggested in her book and implemented them. Amazon is now doing what Gisela wrote. Lessons learnedThink through in a creative way who is your friend and who is not worth anything. Andrew’s takeawaysLook at criticism as an opportunity. Actionable adviceIf you’re an author and want to contact reviewers, read one of Gisela’s audiobooks. If you run a business and sell on Amazon, read Gisela’s book https://amzn.to/3vI96Xg (Naked Truth About Getting Book Reviews), and you’ll find seven tips to boost sales. Another great book everyone should read is https://amzn.to/3EDYo81 (Naked Determination, 41 Stories About Overcoming Fear). No.1 goal for the next 12 monthsGisela Hausmann’s goal for the next 12 months is to refocus and do more for the environment. She wants to write a serial fable in the style of Animal Farm, a standard book that can be read by everybody. Parting words  “Do it. You don’t know if the opportunities are gonna be there tomorrow. So focus on it; it can be done.”Gisela Hausmann  [spp-transcript]   Connect with Gisela...
Apr 26, 2022
Rick Gilbert – Most Likely Nobody Will Buy Your Book
28:20
BIO: Rick is an author of several books and performs one-man shows, bringing alive the stories in his books. STORY: Rick spent $22,000 to produce his first audiobook and made just $500 in sales. LEARNING: Accept that there’s most likely nobody who will buy your book. Figure out how to get your product to the market.   “The chances of you doing your memoir and anybody cares about it are almost zero.”Rick Gilbert  Guest profilehttps://www.facebook.com/LeterRipProductions (Rick Gilbert) is the retired founder of https://www.powerspeaking.com/ (PowerSpeaking, Inc), one of Silicon Valley’s most successful communication and training companies. Before founding PSI in 1985, Rick was a psychologist and held management positions at HP and Amdahl. Rick is an author of several books and performs One-Man shows, bringing alive the stories in his books. His latest book is an audiobook, https://www.rickgilbert.net/ricks-book/ (Sharing Our Stories), featuring interviews with 65 people, including Gloria Steinem, Daniel Ellsberg, Chris Brubeck, Anna Eshoo, and Don Garlits. Worst investment everIt took Rick about a year and a half to put his audiobook together. Because he didn’t understand the technology of audiobooks, he hired people, including lots of editors, to help him with it. Rick ended up spending $22,000 on that book. Over six months, Rick sold 50 copies, only selling at $10 each. So for his $22,000 investment, he made 500 bucks. Lessons learnedIf you still want to write your book, accept that there’s most likely nobody who will buy it. Andrew’s takeawaysYou may have a great idea, but it remains a hobby, interest, and passion if you haven’t figured out a way to get it to the market. You’ve got to figure out how to get it to the market to sell that idea. Start bringing your product to the market now. Write a chapter, share it, see what happens, and you’ll grab the marketplace before you make the entire investment. Actionable adviceDo your homework so that you’re aware of what you’re getting yourself into. No.1 goal for the next 12 monthsRick’s goal for the next 12 months is to stop worrying about the future and live in the moment.   [spp-transcript]   Connect with Rick Gilberthttps://www.facebook.com/LeterRipProductions (Facebook) https://www.youtube.com/channel/UCDuxw9TIoik26MB3ZUm4Fvg (YouTube) https://www.rickgilbert.net/?fbclid=IwAR27HnkKJxJFV68HE5WSTxw_RSCQh9rDjz4G53FJVw28XrF5nXG6SM0W2X4 (Website) https://www.rickgilbert.net/ricks-book/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast) Further reading mentionedMichael Gerber (October 1988), https://amzn.to/3xCGf9g (The E Myth: Why Most Businesses Don’t Work and What to Do About It). Eric Ries...
Apr 24, 2022
Kanit Nimmalairat – Don’t Go All-in on a Stock
15:56
BIO: Kanit Nimmalairat is the owner of the YouTube channel and Facebook Naiwaen Investment, with over 200,000 followers. STORY: When Kanit started investing, he made his worst investment ever when he went all-in on one commodity stock. The stock was selling at 34 baht, but the price plummeted to 7 baht. Kanit made a 100% loss on that investment. LEARNING: Educate yourself on value investing. Have an investment principle. Consider a stop-loss, especially if you’re new to investing.   “Don’t go all in. Instead, build your investment position as you get better at investing.”Kanit Nimmalairat  Guest profileKanit Nimmalairat or นายแว่นลงทุน (Nai-waen-long-thun/investment) is the owner of the https://www.youtube.com/channel/UCcQxvgiObaaA2DI3UOqrXZw/featured (YouTube channel) and https://www.facebook.com/NaiwaenTammada (Facebook page) นายแว่น ลงทุน - Naiwaen Investment with over 200,000 followers. He is also a full-time investor who is a master of investing in VI stocks and has various online courses on how to invest and gain financial freedom. Worst investment everWhen Kanit started investing, he made his worst investment ever when he went all-in on one commodity stock. The stock was selling at 34 baht, but the price plummeted to 7 baht. Needless to say, Kanit made a massive loss on that investment. Lessons learnedEducate yourself on value investing and have an investment principle before entering any investment. Don’t go all-in on a stock. Andrew’s takeawaysCommodities are very volatile, and only consider investing in them when you’re in an inflationary environment for that particular product or commodities in general. Never invest in commodities for long-term gain. Consider a stop-loss, especially if you’re new to investing. Actionable adviceBuild a valuable investment principle. Don’t go all in; instead, build your position as you get better at investing. No.1 goal for the next 12 monthsKanit’s goal for the next 12 months is to grow his investment portfolio and also increase his Facebook and YouTube followers. Parting words  “You can build your financial independence by 2030.”Kanit Nimmalairat  [spp-transcript]   Connect with Kanit Nimmalairathttps://www.facebook.com/NaiwaenTammada (Facebook) https://www.youtube.com/channel/UCcQxvgiObaaA2DI3UOqrXZw/featured (YouTube) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Apr 21, 2022
Allan Dib – Make Your 1-Page Marketing Plan
28:12
BIO: Allan Dib is a serial entrepreneur, rebellious marketer, and #1 bestselling author. STORY: Allan lost a decade and thousands of dollars trying to figure out marketing for his business all by himself, yet he had no expertise in the field. LEARNING: Find experts to help you with the things you don’t have expertise in. You’re not always going to be the person to solve all your problems.   “When we’ve got problems, we often try to figure out the how instead of the who.”Allan Dib  Guest profilehttps://www.linkedin.com/in/allandib/ (Allan Dib) is a serial entrepreneur, rebellious marketer, and #1 bestselling author. His book https://amzn.to/38FTRpG (The 1-Page Marketing Plan) has been an international bestseller for the last four years. Allan helps businesses worldwide develop and improve their marketing capabilities using the 1-Page Marketing Plan (1PMP) framework. https://successwise.com/ (Download The 1-Page Marketing Plan Canvas for Free). Worst investment everWhen Allan started his IT business, he decided to try and figure out the marketing game. He had a very slow uptake because he had no idea how it was supposed to be done. Trying to figure it all out by himself cost Allan a decade in terms of time which is very expensive. Allan also spent thousands of dollars on trial and error. He could have shortcutted that process to maybe a year or six months had he got the right mentors, coaching, and people to walk him through the process. Lessons learnedWhen facing problems in your business, start by figuring out the who, not the how. Find experts to help you out with the things you don’t have expertise in. Andrew’s takeawaysAccept that you’re not going to be the one that’s going to solve every problem you face in your business. Actionable adviceIf you’ve got no budget, one thing that you can do immediately is to create a marketing plan. If you have a bit of funding, don’t try to figure it all out yourself. Hire someone to do it for you. No.1 goal for the next 12 monthsAllan’s goal for the next 12 months is to get his next book out and launch a podcast. Parting words  “Get better at marketing because the best marketer wins every time.”Allan Dib  [spp-transcript]   Connect with Allan Dibhttps://www.linkedin.com/in/allandib/ (LinkedIn) https://www.facebook.com/successwise (Facebook) https://www.instagram.com/successwise/ (Instagram) https://www.youtube.com/user/successwise (YouTube) https://successwise.com/blog/ (Website) https://www.rebelliousmarketing.com/ (Podcast) https://amzn.to/38FTRpG (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Apr 19, 2022
Nidhi Mohan Kamal – Happiness Is an Inner Game, Love Yourself
31:20
BIO: Nidhi Mohan Kamal is the director of NidSun Wellness, a chain of weight loss clinics with branches in Delhi and two other cities in India. STORY: Nidhi’s worst investment ever was looking for superficial qualities in the people she got into relationships with. This left her with a string of failed relationships until she figured out the fundamental qualities she needed to focus on. LEARNING: Look for fulfillment inward, not from other people. Be assertive with your truth.   “Have intentional love for yourself.”Nidhi Mohan Kamal  Guest profilehttps://www.linkedin.com/in/nidhi-mohan-kamal-813a82100/ (Nidhi Mohan Kamal) is the director of http://nidsun.org/ (NidSun Wellness), a chain of weight loss clinics with branches in Delhi and two other cities in India. She’s a Food Scientist with a Food and Chemical engineering degree and a specialization in nutrition and sports-specific nutrition. She is also a Certified Ashtanga Vinyasa Yoga Trainer. And a certified Strength Fitness trainer with a specialization in Rehab and Resistance. You can find her writing and videos on blogs about food, fitness, and nutrition. She’s the brand ambassador of Puma Do You in India and was part of the Guinness World Record plank. Worst investment everNidhi’s worst investment was in the type of relationships she got in. Whenever she was picking a partner, she’d look at surface qualities that were relatively superficial such as hobbies and interests. Years later, Nidhi realized that she was delusional about what she thought she needed from relationships. She didn’t consider essential things such as consistency, kindness, gratitude, a willingness to stick around, etc. Lessons learnedNever look for fulfillment from other people; it has to come inwardly, from you. Fill yourself up with love, affection, and compassion first so that you can give the same to your partner. Be assertive with your truth. Always ask yourself if your intention of going into a relationship is good or are you coming from a place of ego and selfishness. Andrew’s takeawaysStay true to your mandate. Physical health and happiness depend significantly on your outer and inner journey. Actionable adviceSlow is fast. Take relationships slowly, and always remember that love is intentional. It’s not about the spark or what you felt the first day. It’s about the bigger things in life. Can they invest in you consistently and let the compounding work for them? No.1 goal for the next 12 monthsNidhi’s goal for the next 12 months is to find balance after a few roller coaster years. Parting words  “Invest in yourself, your knowledge, spirituality, and health. The biggest investment you will make in your life is not your bank account. It’s you.”Nidhi Mohan Kamal  [spp-transcript]   Connect with Nidhi Mohan Kamalhttps://www.linkedin.com/in/nidhi-mohan-kamal-813a82100/ (LinkedIn) https://www.instagram.com/nidhimohankamal/ (Instagram) http://nidsun.org/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn)...
Apr 17, 2022
Brett King – Prepare for Bad Outcomes to Avoid Them
37:11
BIO: Brett King is an Amazon bestselling author, a renowned commentator, and a globally respected speaker on the future of business. STORY: Brett got into a partnership offering a five-day executive program in Dubai. The business was doing well until the global financial crisis hit in 2008. His business partner took over the company, but he had no experience in training, so it died in just a few months. LEARNING: Have an advisory board for conflict resolution. Have an exit plan. Always have a shareholders’ agreement.   “Sometimes, the best thing you can do is to walk away.”Brett King  Guest profilehttps://www.linkedin.com/in/brettking/ (Brett King) is an Amazon bestselling author, a renowned commentator, and a globally respected speaker on the future of business. He has spoken in over 40 countries, to half a million people, on how technology is disrupting business, changing behavior, and influencing society. Worst investment everBrett was teaching MBA in Hong Kong in 1999, and he got in touch with this gentleman running a trade association in the US for E-commerce specialists. The qualification he issued was the certified e-commerce consultant. He also ran a trade association or professional association for finance, and the certificate he issued was very successful when attached to the MBA program. Brett started a mini MBA five-day executive program called the American Academy of financial management in Dubai. The program exploded within a few years, and the business was doing 3 to 4 million dollars a year in revenue. Brett relocated his family to Dubai and set up the international operation of this business in the free zone. But, to some extent, he ran the business in Dubai quite separately from the US business. But he had a contractual relationship with the US business as a licensed training organization. Within a couple of years of being in Dubai, Brett’s business represented about 95% of the total revenue of this new professional association. Then the global financial crisis of 2008/2009 hit. His business partner in the trade association in the US got into financial trouble and decided that he would take over the operation in Dubai. He sent out legal notices to all the companies Brett was working with, notifying them they could only buy their certificates directly from him and not Brett. The partner didn’t understand the business, and when he took over, the company collapsed overnight. Brett had put almost 10 years of his life into that business. Based on Brett’s trajectory, if the company had survived the financial crisis, it would be a $300 million business today. Lessons learnedIf you’re going to work with someone in a business, make sure that you’re both on the same page in terms of the business strategy. Think about the divorce implications for a business. Also, if you decide to exit the company, have clear guidelines on what happens to the IP, how you deal with the employees and other elements as part of the business’s closure or evolution. Use an advisory board to help deal with disputes between the partners. Andrew’s takeawaysHave a trusted intermediary in your business partnership. Always have a shareholders’ agreement before the partners start working together. Actionable adviceGet an excellent structural contract lawyer to help you put together the shareholders’ agreement and those initial structural elements of the business. Also, prepare yourself for the event that the company may not work, and you need to walk away from it. No.1 goal for the next 12 monthsBrett’s goal for the next 12 months is to get his finances back in order after a couple of years of disruption. Parting words  “Whatever you’re going to do, do it so that it makes life better for fellow humans.”Brett King  [spp-transcript]   Connect with Brett Kinghttps://www.linkedin.com/in/brettking/ (LinkedIn) https://www.facebook.com/brettkingauthor/ (Facebook) https://twitter.com/BrettKing (Twitter)
Apr 14, 2022
Mohan Belani – Fail Fast and Move On Even Faster
28:25
BIO: Mohan Belani is the Co-founder and CEO of e27, a startup and tech ecosystem platform focused on helping startup founders build and grow their companies. STORY: Between 2013 to 2015, Mohan was mentally and emotionally satisfied with the status quo and never invested in himself, his capabilities, and his mindset to go to the next level. LEARNING: Don’t avoid failure. Just learn to deal with it and handle it better.   “The true currency of life is time.”Mohan Belani  Guest profilehttps://www.linkedin.com/in/mohanbelani/ (Mohan Belani) is the Co-founder and CEO of https://e27.co/ (e27), a startup and tech ecosystem platform focused on helping startup founders build and grow their companies. He believes that startups can make the world a better place, and in order for Southeast Asia’s tech ecosystem to be relevant, it needs to be driven by sustainable and impactful companies solving problems at scale. He’s invested in over 25 early-stage funds and startups across APAC and US and enjoys working with founders and helping them alleviate the challenges of building great companies, specifically around the areas of talent, funding, and market access. Worst investment everMohan’s worst investment ever was not evolving his psyche and mental state in a manner that would allow him to go forward, grow, and be where he needed to be. Between 2013 to 2015, Mohan was mentally and emotionally satisfied with the status quo and never invested in himself, his capabilities, and his mindset to go to the next level. Lessons learnedSurround yourself with the right people who can help you grow to the next level. Sometimes you need a bit of a jolt and external feedback to get you moving. If you want to remain relevant and continue to grow, you need to adapt and evolve constantly. It’s one thing to desire to change or do something positive, but it’s another to build the systems and processes to support that. Andrew’s takeawaysTake care of yourself and be aware of what’s going on with your ego and your drive. Actionable adviceSometimes you have to go through the downs to appreciate the ups. Don’t avoid failure. Just learn to deal with it and handle it better. If you fail, it’s better that it happens quicker, and you realize it faster, and then figure a way out around it. No.1 goal for the next 12 monthsMohan’s goal for the next 12 months is to start doing new things to change the dynamic of his company and push it forward. Parting words  “The faster you realize that time is the ultimate currency and everyone has the same amount, the better quality of life you’ll lead.”Mohan Belani  [spp-transcript]   Connect with Mohan Belanihttps://www.linkedin.com/in/mohanbelani/ (LinkedIn) https://e27.co/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Apr 12, 2022
Mariah & Byron Edgington – When You Face Challenges, Reach Out
26:01
BIO: Mariah Edgington BSN, RN is a retired critical care nurse who integrated holistic practices into her practice. Byron Edgington ATP, CRMI is retired military and commercial helicopter pilot, Vietnam veteran, award-winning author, speaker, and contributor. STORY: Byron lost his pilot job in Kauai due to a minor medical difficulty. This brought the couple’s dream life on the island to an end. Desperate and lost, Byron invested blindly into real estate and made no money. He didn’t know that he’d have benefitted from disability insurance had he claimed it. LEARNING: Don’t make decisions when you’re at your lowest point. Seek help from people you trust.   “Seeking a community that can help you is by far the best thing you can do for yourself.”Mariah & Byron Edgington  Guest profilehttps://www.linkedin.com/in/mariahedgington/ (Mariah Edgington BSN, RN) is a retired critical care nurse who integrated holistic practices into her practice. Mariah found these tools so effective that after retirement, she integrated them into a mindset coaching practice. She is a soon-to-be New Your Times Best Selling author, speaker, and contributor to https://www.bizcatalyst360.com/author/mariahedgington/ (BizCatalyst360). https://www.linkedin.com/in/byronedgington/ (Byron Edgington ATP, CRMI) is a retired military and commercial helicopter pilot, Vietnam veteran, award-winning author, speaker, and contributor to BizCatalyst360, and https://www.travelawaits.com/ (TravelAwaits Magazine). Mariah and Byron co-authored the first in a series of books, https://www.mariahedgington.com/ (Journey Well, You Are More Than Enough: (Re)Discover Your Passion, Purpose, & Love of Yourself & Life). Their book, guidebook, and online course will be available will be soon. Worst investment everByron and Mariah lived on the island of Kauai, where Byron worked as a nurse while flying tourists around the island all day long. The couple loved everything about living in this piece of heaven. Their life in paradise was short-lived. Byron lost his clearance to fly because he couldn’t get medical approval because of some minor medical difficulty. Byron and Mariah were devastated. They packed their bags and left Kauai. Lost in the unfortunate turn of events, Byron forgot to follow up on disability insurance. His only concern was to move forward. In the process, Byron took the first way out he came across. He went into real estate because somebody suggested it. Byron put a lot of money into real estate, and it didn’t go well. Within a year or two, Byron was out of real estate without making anything out of the investment. Lessons learnedWhenever you’re feeling lost, don’t do anything for a while until you have a better idea of who you are, what you’ve lost, and what you would like to do going forward. Join mastermind groups with people who can help expand your thought. Andrew’s takeawaysBe aware of what’s going on in your life and what’s available to you. Don’t be afraid to take benefit of what’s available to you. When you’re struggling with an issue, one of the best solutions is to talk to people you trust about it. Actionable adviceWait and seek help. No.1 goal for the next 12 monthsMariah & Byron’s goal for the next 12 months is to publish their book https://www.mariahedgington.com/ (Journey Well, You Are More Than Enough: (Re)Discover Your Passion, Purpose, & Love of Yourself & Life). Following that, the couple will publish a book for mothers and daughters to rediscover that relationship and then for couples as well.   [spp-transcript]   Connect with Mariah & Byron Edgingtonhttps://www.linkedin.com/in/mariahedgington/ (LinkedIn) (Mariah) https://www.linkedin.com/in/byronedgington/ (LinkedIn) (Byron) https://www.instagram.com/byedgington/ (Instagram) https://www.facebook.com/mariah.edgington.329 (Facebook) https://www.mariahedgington.com/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to...
Apr 10, 2022
Alistair Croll – To Scale, You Have to Get People to Care
39:27
BIO: Alistair Croll is an entrepreneur, author, and conference organizer. His book Lean Analytics has been translated into eight languages and is considered mandatory reading for startup founders. STORY: Alistair needed to raise capital for his startup. He received a series A investment of $20 million and gave up 50% equity in his company. LEARNING: Don’t scale prematurely. Capture your market’s attention first.   “Risk is a necessary component of progress.”Alistair Croll  Guest profilehttps://www.linkedin.com/in/alistaircroll/ (Alistair Croll) is an entrepreneur, author, and conference organizer. His book https://amzn.to/3upOTWN (Lean Analytics) has been translated into eight languages and is considered mandatory reading for startup founders. He helped create the Data Science and Critical Thinking course at Harvard Business School and founded web performance pioneer Coradiant. He’s chaired some of the world’s leading tech events, including Strata and Cloud Connect, and is the co-founder of https://fwd50.com/ (Forward50), the world’s biggest conference on digital government. He’s joining us from Montreal, Canada, where he’s hard at work on a new book https://justevilenough.com/ (Just Evil Enough), a still-stealthy mobile startup called Stroll, and launching the 2022 edition of Startupfest, Canada’s original startup conference. Worst investment everAlistair started a startup in the business of running websites for people. So instead of having to buy dedicated hardware, web server, firewall, and so on to run your website, the company could have that stuff and let customers use a slice of it. The company got a Series A investment of $20 million. In return, Alistair and his partners gave up half of the company. Alistair didn’t anticipate that this trend he’d foreseen was just the start of a much longer trend that led to modern-day cloud computing. Alistair’s worst investment ever was receiving funding and giving up 50% equity in the company long before he had adequately understood the trend he was capitalizing on. Lessons learnedDon’t scale prematurely. Capture your market’s attention first. When pitching an idea, always ask yourself if you can change the behavior of a lucrative target market sustainably. Andrew’s takeawaysYour startup is not successful until you can sustainably keep people’s attention and focus on what you’re doing. Actionable adviceDe-risk the highest and most uncertain thing first. No.1 goal for the next 12 monthsAlistair’s goal for the next 12 months is to market his new book https://justevilenough.com/ (Just Evil Enough). Parting words  “We move the world forward by taking risks. So figure out what risks are worth it and then plunge headlong into them and don’t pull your punches.”Alistair Croll  [spp-transcript]   Connect with Alistair Crollhttps://www.linkedin.com/in/alistaircroll/ (LinkedIn) https://twitter.com/acroll (Twitter) https://alistaircroll.com/ (Website) https://amzn.to/3upOTWN (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/...
Apr 07, 2022
Ash Maurya – Focus On Customer Development Before Product Development
35:59
BIO: Ash Maurya is the author of two bestselling books, “Running Lean” and “Scaling Lean,” and is also the creator of the top-rated one-page business modeling tool “Lean Canvas.” STORY: Ash had this social networking idea that he thought was unique, so he kept it to himself as he built on it. He never tested the market until he launched, and the network was a flop. Ash kept building the network in isolation until seven years later when he realized he was supposed to be building a customer base, not the perfect product. LEARNING: Take at least 90 days to test a new idea before launching it. You need customers for your business to survive.   “You can actually sell before you build.”Ash Maurya  Guest profilehttps://amzn.to/3wQSHle (Ash Maurya) is the author of two bestselling books, “https://amzn.to/3wQSHle (Running Lean)” and “https://amzn.to/3wQSHle (Scaling Lean),” and is also the creator of the top-rated one-page business modeling tool “https://amzn.to/3wQSHle (Lean Canvas).” Ash is praised for offering some of the best and most practical advice for entrepreneurs and intrapreneurs worldwide. Driven by the search for better and faster ways for building successful products, Ash has developed a continuous innovation framework that synthesizes concepts from Lean Startup, business model design, jobs-to-be-done, and design thinking. Ash is also a leading business blogger, and his posts and advice have been featured in Inc. Magazine, Forbes, and Fortune. He regularly hosts sold-out workshops worldwide and serves as a mentor to several accelerators, including TechStars, MaRS, Capital Factory, and guest lecturers at several universities, including MIT, Harvard, and UT Austin. Ash serves on the advisory board of several startups and has consulted with new and established companies. Worst investment everIn 2011, Ash came up with a social networking idea that he believed was so good that he couldn’t tell anyone. The friends he told, he swore them into secrecy. They all convinced him that this would be a perfect idea. Ash took all the money he had, got a small team together, and spent a year building the network. He never talked to anyone about his idea during the building period. Nine months into that journey, he heard about Friendster, the first social network launched. Someone had beat him to it. However, Ash was still convinced his idea was unique, so he continued to build on it. Ash finally launched his network and spent another year trying to get everything right, but it didn’t work. Then he took a hard pivot and had a lucky break when another company that liked the technology he was using licensed it for a little while. But it was still not Ash’s big outcome story. His co-founders lost interest in the network and walked away. Ash kept plugging along and bootstrapped until the five-year mark, building his product. After about seven years, Ash realized that he had been looking at all his ideas from the inside out. He concentrated on building a product for himself instead of creating a customer base first. Lessons learnedWhen building a business, focus more on purpose and meaning. Ask yourself if you’re creating what the customers needs. Give yourself 90 days to test the market and demonstrate traction if you have a new idea. If your customers aren’t paying attention to your idea, building a product will not make a difference. Andrew’s takeawaysTo turn great ideas into great products, the people around you should always be confident that you can implement them. Decide the minimum number of customers you need to stay in business and when. Be as specific as possible. Actionable adviceSet a goal and a deadline or a timeline. Then ask yourself what’s the smallest outcome that would deem this project a success. No.1 goal for the next 12 monthsAsh’s goal for the next 12 months is to get from 1 million people on his platform to 10 million or at least within the next three years. Parting words  “Look...
Apr 05, 2022
Edward Zia – Question, Push Back, and Get Help to Avoid Homelessness
28:53
BIO: Edward Zia is a Marketing Mentor, Certified Practicing Marketer (CPM), and International Master Coach. He has mentored thousands of winners globally to help them get more clients, win top positions and become leading personal brands. STORY: When Edward left the army, he immersed himself in his job. He put his employer ahead of himself. This left him stressed and burnt out, and he made poor decisions that left him homeless. LEARNING: Question everything you hear, don’t just go on autopilot. When faced with problems, don’t just sit there and hope it will get better; do something about it.   “Be a critical thinker and question what you hear. Don’t believe what people or the media tell you.”Edward Zia  Guest profilehttps://www.linkedin.com/in/edwardzia/ (Edward Zia) is a Marketing Mentor, Certified Practicing Marketer (CPM), and International Master Coach and has mentored thousands of winners globally to help them get more clients, win top positions and become leading personal brands. As Master Grade Coach, Edward has exceeded the 10,000+ Personal Coaching hours threshold, making him a leader in his field. He’s helped individuals generate millions and millions of dollars and loves it so much. He’s a proud veteran who started in the Australian army as a Combat Engineer and was honored to be invited to work in the Federal Government on Drug Enforcement & Organised Crime taskforces. Today, Edward works with his clients and works directly with key organizations such as Microsoft, Teachable, Meetup, LinkedIn, Business Australia, the Australian Government, and more to get the latest knowledge and support great people. Worst investment everWhen Edward started working after leaving the army, he would work night and day, seven days a week. He’d often work through lunch. He suffered from stress and burnout and made a series of bad decisions that left him a homeless veteran. Lessons learnedQuestion everything you hear, don’t just go on autopilot. Push back when situations aren’t going your way. Don’t just sit there and hope it will get better, do something about it. Get some help. Whatever the problem you’re facing, find an expert who understands that problem well to help you out. Andrew’s takeawaysThere are forces of good and evil behind everything. Just look for it. Think for yourself and then make your conclusions. Actionable adviceStop for a moment and think about what you’re doing and where you’re going. No.1 goal for the next 12 monthsEdward’s goal for the next 12 months is to upscale what he has instead of doing new stuff. Parting words  “Even Elon Musk was homeless. Just remember that.”Edward Zia  [spp-transcript]   Connect with Edward Ziahttps://www.linkedin.com/in/edwardzia/ (LinkedIn) https://twitter.com/EdwardZia (Twitter) https://www.facebook.com/groups/AustraliaNetworking (Facebook) https://www.meetup.com/lp/decide-and-conquer-book?_cookie-check=gaqvRxG--y2zbnwT (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn)...
Apr 03, 2022
Izabela Lundberg – Show Up, You Will Figure It Out
24:55
BIO: Izabela Lundberg is a people champion who transforms organizations, their teams, and their talents and turns them into high performers. STORY: In 2019, Izabela invested her money and time into film production. She was sure this would be the project that would allow her to retire early. Unfortunately, the pandemic hit in 2020 and shut down everything. Izabela’s investment went down the drain. LEARNING: Difficult moments are temporary. You can survive any trauma.   “You’re going to be okay. You’re much stronger and more capable than you give yourself credit.”Izabela Lundberg  Guest profilehttps://www.linkedin.com/in/izabelalundberg/#experience (Izabela Lundberg) is a people champion who transforms organizations, their teams, and their talents and turns them into high performers. Izabela established https://www.izabelalundberg.com/coaching (Legacy Leaders Institute), a premier platform developed for Executive and Organizational Advisory, Consulting, and Training through a ‘High-Performance Impact Method’ framework comprised of extensive research, data, and analytics of human dynamics and behaviors in business and sports. She has a dynamic worldview after living in six countries, speaking six languages, and traveling to over 50 countries while working with diverse teams from over 120 countries. Izabela is a recognized catalyst of sustainable solutions for global leaders and their most pressing challenges. Listen to her https://www.izabelalundberg.com/podcast (Legacy Leaders Show), a top-rated global business and entrepreneurship podcast offering real and raw business, sport, and life lessons with practical advice for current and upcoming leaders. Worst investment everIn 2019, Izabela converted full-time attention to becoming an executive producer and producer. She invested in film and film production and started working on a film. According to her projections, this was going to be a moneymaker project. Come 2020, the pandemic shut off the entire world. Izabela’s project came to a halt. All the finance, profit margin, and risk projections went down the drain in a split second. What was supposed to be the opportunity to enable her to retire early became her worst investment ever. Lessons learnedWhen going through moments of devastation, it’s essential to take those moments one day at a time and stay calm and grounded so that you don’t make haste decisions or overreact. Even when things look so bleak, and you feel like you have no point of return, know that it will all change with time. Your situation will start getting smaller and smaller, and eventually, you’ll put it behind you. Andrew’s takeawaysYou can survive any trauma. Just tap into your inner strength to pull yourself back. Timing is crucial in business. Actionable adviceFace what happened with honesty, examine it from different angles, and learn from it. Ask yourself what you can do differently. Did you do the best you could with what you knew or made a hasty decision? No.1 goal for the next 12 monthsIzabela’s goal for the next 12 months is to continue serving and give her talents and skills back into her documentary and film production journey. Parting words  “Consider every failure or loss as a stepping stone to your success. Failure and loss will help you build the tremendous human being you’re meant to be.”Izabela Lundberg  [spp-transcript]   Connect with Izabela Lundberghttps://www.linkedin.com/in/izabelalundberg/ (LinkedIn) https://www.facebook.com/MeetIzabelaLundberg (Facebook) https://www.instagram.com/izabela.lundberg/ (Instagram) https://www.youtube.com/user/TheBellasShowcase (YouTube) https://www.izabelalundberg.com/ (Website) https://www.izabelalundberg.com/podcast (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them)
Mar 31, 2022
Martyn Terpilowski – Separate Your Investment Risk
29:08
BIO: Martyn Terpilowski has spent over 20 years in Asia, where he lived for the majority in Tokyo and Hong Kong and was working in finance. STORY: Martyn wanted to buy a property in London, but since he was living in Singapore, he decided to get a loan from a Singaporean bank. The mistake he made was taking the loan in Swiss francs. He ended up losing over 1.5 million pounds to the bank. LEARNING: Don’t be greedy when investing. Always do your due diligence.   “Don’t mix property investments with currency investments.”Martyn Terpilowski  Guest profilehttps://www.linkedin.com/in/martyn-terpilowski-66aba850/ (Martyn Terpilowski) has spent over 20 years in Asia, where he lived for the majority in Tokyo and Hong Kong and was working in finance. In 2018 he moved to Indonesia and was the Angel Investor and Founder of technology company https://www.bvarta.com/ (Bhumi Varta Technology) (BVT). The company now has over 150 staff and is growing rapidly. They provide location analytics and big data platform to help large international and local companies make better data-driven decisions. BVT will be one of the leading deep tech companies in Southeast Asia in the next 3 years, with plans to launch a successful IPO. Worst investment everMartyn made the mistake of taking a mixed currency loan on a property he wanted to invest in. The property was in London, and at the time, he was living in Singapore. Martyn took a 3 million pounds loan through a bank in Singapore. To save himself some interest and earn some extra, he decided to borrow the money in Swiss francs. At the time, this seemed like a safe bet. Then, along came the financial crisis in 2008 and the Swiss franc strengthened against the Sterling by 50%. Martyn lost about 1.5 million pounds to the bank. Lessons learnedDon’t be greedy when investing. Always do your due diligence. Andrew’s takeawaysUnderstand where you’re investing, where you’re speculating, and where you’re hedging your position. Consider investing in a natural hedge where your assets match your liabilities in that currency. Actionable adviceDon’t mix low-risk property investments with high-risk currency investments. No.1 goal for the next 12 monthsMark’s goal for the next 12 months is to continue growing his company’s revenue. Parting words  “Just be careful. If it sounds too good to be true, it probably is and certainly needs proper evaluation.”Martyn Terpilowski    [spp-transcript]   Connect with Mark McNallyhttps://www.linkedin.com/in/martyn-terpilowski-66aba850/ (LinkedIn) https://www.instagram.com/bvarta/ (Instagram) https://www.youtube.com/channel/UCLqYa_mTXMTjGgrr6nRbPjg (YouTube) https://www.bvarta.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Mar 29, 2022
Mark McNally – Take Some Money off the Table
18:43
BIO: Mark McNally is a serial entrepreneur with broad experience scaling companies from startups to multinational establishments. A passionate product and marketing strategist, Mark is one of the original innovators in the e-commerce space, rapidly expanding online buying internationally since the ’90s. STORY: Mark lost almost his entire net worth when a startup he had invested in his mid-twenties experienced a 94% stock price drop. LEARNING: Don’t confuse a person’s financial scorecard for who they are as a human being. Trust only happens over time as you see people’s reactions to serious adverse events.   “Upside return is only realized investment if you take money off the table.”Mark McNally  Guest profilehttps://www.linkedin.com/in/mrkmcnally/ (Mark McNally) is a serial entrepreneur with broad experience scaling companies from startups to multinational establishments. A passionate product and marketing strategist, Mark is one of the original innovators in the e-commerce space, rapidly expanding online buying internationally since the ’90s. Mark’s journey has crossed 14 startups that have raised over $300 million and have seen over $5 billion in exits. These startups pioneered their days from machine learning and e-commerce to healthcare and consumer products. He continues in that spirit as the Founder and Chief Nobody at https://nobodystudios.com/ (Nobody Studios), founded in 2020. Worst investment everMark got involved in his first startup when he came out of the military. A couple of guys had this idea that they could connect buyers and suppliers on this new thing called the internet. This was back in 1996. Mark was in the upper five executives of the company when it went public on the NASDAQ in 1999. The startup got to almost a $5 billion market cap, and Mark was living his dreams. A couple of years later, the market corrected itself, and the company’s stock fell 94%. Mark lost almost his entire net worth, which was at eight figures. Lessons learnedBe very careful of dealing with manipulative type personalities. Don’t confuse a person’s financial scorecard for who they are as a human being. The sky is the limit if you get the why and the execution right. Andrew’s takeawaysTrust only happens over time as you see people’s reactions to serious adverse events. Don’t think that the people behind the scenes are wise guys thinking things through. They’re going on a roller coaster ride and often believe that they’re doing the right thing by bringing you along. Actionable adviceWhen running a business, put rules in place to take the emotions out of it as much as possible. No.1 goal for the next 12 monthsMark’s goal for the next 12 months is to continue building his core team and getting funding to launch 15 companies.   [spp-transcript]   Connect with Mark McNallyhttps://www.linkedin.com/in/mrkmcnally/ (LinkedIn) https://www.facebook.com/SaysNobodyStudios (Facebook) https://twitter.com/mrkmcnally (Twitter) https://www.youtube.com/channel/UCKdeUMDGGEaZbWPS323xVXg (YouTube) https://nobodystudios.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with...
Mar 27, 2022
Toni Lontis – Start Investing in Yourself in Your 20s
23:12
BIO: International Radio and TV host, bestselling co-author, author, speaker, and visionary Toni Lontis quietly entered the entrepreneurial world in 2019, post-publication of her memoir, Resilience, about her healing and self-discovery journey from dysfunction and trauma to helping heal others through her words. STORY: Toni was born with a preauricular sinus, and she let this condition hold her back for years. She regrets waiting until she was in her 50s to start investing in herself. LEARNING: Start investing in yourself now. Overcome fear through little consistent actions.   “Embrace who you are because you are uniquely you with your own sets of dreams, values, and inspirations.”Toni Lontis  Guest profileInternational Radio and TV host, bestselling co-author, author, speaker, and visionary https://www.linkedin.com/in/toni-lontis/ (Toni Lontis) quietly entered the entrepreneurial world in 2019, post-publication of her memoir, https://amzn.to/3ujQxb6 (Resilience), about her healing and self-discovery journey from dysfunction and trauma to helping heal others through her words. A “chance” conversation led to a meeting with an American Media company, and https://www.twitch.tv/radiotoni (Radio Toni) was born. Toni now has multiple live streaming TV shows and a series of co-hosted business shows on different platforms based in the US and broadcasting to the world. 2022 sees her launching https://everydaywomensnetworktv.ottchannel.com/ (Everyday Women’s Network) (Netflix for women), a global TV network led by women, for women everywhere. Worst investment everToni was born with a preauricular sinus, a congenital facial defect, and after the three surgeries, she was left with left-sided facial palsy. So in her younger life, she couldn’t smile, eat properly, or close her mouth correctly. Toni carried the shame of this defect until much later in life. She never invested in herself, her growth, or her healing until midlife. For Toni, her worst investment was waiting until her 50s to discover who she was and what she had to offer the world. Lessons learnedLearn to support yourself in terms of your emotional needs and believe in yourself. You can do and create anything that you set your mind to. Learn that you are a unique creative being, and you’ll do amazing, phenomenal, and immense things across your life. Fear is only a thought and a feeling. It’s not an actual thing and only takes root if we allow it to. Andrew’s takeawaysOvercome fear through little consistent actions. Start now, start today. Don’t compare your insides to other people’s outsides. Actionable adviceBelieve in yourself even when no one else believes in you or feels like you don’t have support. You’re a unique and valuable human being who has been given extraordinary dreams, values, and thoughts. So start believing in yourself and keep going one step at a time, even when in the depths of the worst, darkest, most horrible period of your life. No.1 goal for the next 12 monthsToni’s goal for the next 12 months is to launch Everyday Women’s Network, which will be a network for women and the men that support them. Underneath the network will be fantastic channels filled with information that will inspire and empower, educate and help its audiences. She also hopes to have 25,000 subscribers on the network by the end of 2022.   [spp-transcript]   Connect with Toni Lontishttps://www.linkedin.com/in/toni-lontis/ (LinkedIn) https://www.facebook.com/ToniTVAU/ (Facebook) https://twitter.com/tonilontis (Twitter) https://www.instagram.com/tonimlontis/ (Instagram) https://www.youtube.com/c/tonilontis (Podcast) https://www.youtube.com/c/tonilontis (YouTube) https://tonilontis.com/blog-2/ (Blog) https://pageturner.us/bookstore/resilience-memoir-of-a-broken-little-girl-discovering-a-woman-on-strength-and-beauty-autobiography (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock...
Mar 24, 2022
Barry O’Reilly – Keep Improving Your Investment System
24:17
BIO: Barry O’Reilly is an entrepreneur, business advisor, and author who has pioneered the intersection of business model innovation, product development, organizational design, and culture transformation. STORY: One of Barry’s oldest friends sent him a video about investing in Ethereum. He watched the video but didn’t understand it, so he didn’t invest. The investment turned out to be a success, and Barry missed out on the opportunity. LEARNING: Trust your curiosity, especially in venture building. Don’t focus too much on that missed opportunity. Learn from it.   “Keep improving your system. Identify the things that went the way you hoped and mitigate the ones that didn’t.”  Guest profilehttps://www.linkedin.com/in/barryoreilly/ (Barry O’Reilly) is an entrepreneur, business advisor, and author who has pioneered the intersection of business model innovation, product development, organizational design, and culture transformation. Barry is the co-founder of https://nobodystudios.com/ (Nobody Studios), a crowd-infused, high-velocity venture studio with the mission to create 100 compelling companies over the next 5 years. Barry is the author of two international bestsellers, https://amzn.to/36vEm2o (Lean Enterprise) and https://amzn.to/3qh9vh7 (Unlearn). Worst investment everIn 2015, one of Barry’s oldest best friends sent him a video he was convinced he had to watch and was going to change his life. The video was of a young guy talking about an idea called Ethereum. This unique technology was going to transform the way people interact and transact. Barry watched the video seven times, and he didn’t get it every single time. So he didn’t invest. His friend invested and made millions from the investment. Lessons learnedTrust your curiosity, especially in venture building. Take small steps to get started and learn your way through new ideas. Be very conscious about how you invest your energy, capacity, and focus. Andrew’s takeawaysDon’t focus too much on that missed opportunity. Learn from it. Start small and build up your investment portfolio as you gain more experience. When you’re investing in startups, invest in many, knowing that some of them will fail, some will succeed, but you’re going to learn from all of them. Actionable adviceKeep improving your system. Identify the things that went the way you hoped and mitigate those that didn’t. No.1 goal for the next 12 monthsBarry’s goal for the next 12 months is to be the first venture to ever offer equity crowdfunding. Parting words  “Just keep up the great work Andrew.”Barry O’Reilly  [spp-transcript]   Connect with Barry O’Reillyhttps://www.linkedin.com/in/barryoreilly/ (LinkedIn) https://www.facebook.com/barryoreillyauthor/ (Facebook) https://twitter.com/barryoreilly (Twitter) https://www.youtube.com/c/BarryOReillyLive (YouTube) https://barryoreilly.com/explore-insights/?ins=books&top=all%20topics (Books) https://barryoreilly.com/explore-insights/?ins=podcast (Podcast) https://barryoreilly.com/explore-insights/?ins=blog%20posts (Blog) https://nobodystudios.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14
Mar 22, 2022
Reagan Rodriguez – You Don’t Need as Much as You Think You Do
31:16
BIO: Reagan Rodriguez is a Futurist and Founder of WORTHYdomes. Reagan is also an iconoclast known as a cultural pioneer for his integration of creativity and spirituality. STORY: Reagan lost $300,000 in a scam investment that came with the promise to turn the $300,000 into $30 million. LEARNING: You don’t need as much stuff as you think. Spend less, save more and invest.   “How much do you need? Write it down, and you’ll realize all the stuff you think you need, you don’t.”Reagan Rodriguez  Guest profilehttps://www.linkedin.com/in/reagan-rodriguez-694458/ (Reagan Rodriguez) is a Futurist and Founder of https://worthydomes.com/ (WORTHYdomes). Reagan is also an iconoclast known as a cultural pioneer for his integration of creativity and spirituality. His humanitarian project, WORTHYdomes serves to build communities and his motto is, “together, may we be the hands and feet to those in need here at home and around the world.” Reagan and his wife Abigail currently split their residences between Miami, Florida, Puerto Rico, and San Miguel Allende. Worst investment everReagan landed a FEMA contract to construct domes after hurricane Maria and Hurricane Irma in Puerto Rico and Miami. He needed to raise $10 million to build a plant and have robots very similar to Elon Musk’s robots at Tesla. These robots would then make the domes because there were so many homes that the hurricane had destroyed. Reagan was referred to an investment instrument and told that he’d get a high return in just a few months if he put money in it. The investment sounded like a plan because, within 90 to 120 days, Reagan would be able to raise the funds he needed for the humanitarian project. Reagan spoke to his wife about the investment. She warned him not to do it, but he went against her advice and put $300,000 down, which was everything he had in his savings. He believed that within 90 to 120 days, the money would become $30 million. Reagan waited for about four or five months, but he never received any returns, and his money was gone. He tried going legal, but he never got his money back. Lessons learnedMake a list of how much you need, and you’ll realize that all the stuff you think you need and that it’s your faulty mind telling you that you need it. Andrew’s takeawaysSpend less, save more and invest. One of the benefits of having women involved in decision-making is that they often have a better intuitive sense than men. Pay attention to your intuition. It’s your first signal. There’s no free or easy money out there. Actionable adviceThink about the flawed thinking going through your mind and be fully aware of it. No.1 goal for the next 12 monthsReagan’s goal for the next 12 months is to launch his first dome communities in Naples, Miami, Puerto Rico, and Charlotte. Parting words  “Walk more. You’ll hear voices that you didn’t hear before from yourself.”Reagan Rodriguez  [spp-transcript]   Connect with Reagan Rodriguezhttps://www.linkedin.com/in/reagan-rodriguez-694458/ (LinkedIn) https://www.facebook.com/reagan.rodriguez.9 (Facebook) https://twitter.com/WORTHYdomes (Twitter) https://www.youtube.com/watch?v=RoFZrcxvTOs (YouTube) https://worthydomes.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your...
Mar 20, 2022
Panu Boonsombat – Get Business Wisdom from Your Elders
27:03
BIO: Dr. Panu Boonsombat is a personal branding professional and the owner of Dr. Oppa Facebook page, Instagram page, and TikTok account with almost 300,000 followers, 52 million views (without dancing or wearing a bikini), and over 3 million likes. STORY: Panu built an airport hotel with rental space despite elderly locals warning him that this location was not ideal for business. He is still struggling to make the retail space work over 10 years later. LEARNING: Listen to the wisdom of your elders.   “That one little thing you don’t think it’s going to be a big deal could be the reason why things don’t go according to plan.”Panu Boonsombat  Guest profilehttps://www.linkedin.com/in/panu-boonsombat-ph-d-92407136/ (Dr. Panu Boonsombat) is a personal branding professional and the owner of https://www.facebook.com/Dr.Oppa.tv/ (Dr. Oppa Facebook page), https://www.instagram.com/phd.panu/ (Instagram page), and https://www.tiktok.com/@dr.oppa (TikTok account) with almost 300,000 followers, 52 million views (without dancing or wearing a bikini), and over 3 million likes. Worst investment everPanu purchased a piece of land in 2010 near the Suvarnabhumi airport in Bangkok, Thailand, and built a hotel with retail space for restaurants, cafes, and other social amenities for tourists using the airport. The people who were native to that particular area warned Panu that the zone was not lucrative for the kind of business he was trying to do. They told him they’d been here for about three generations already, and no hotel owner had succeeded there. Panu ignored their advice since they were not property experts. Once the premises opened shop, Panu noticed immediately that the foot traffic seemed to be a bit off. The hotel did okay, but the retail space couldn’t survive. He’s still having problems filling up the retail space. Lessons learnedListen to the elders; they have a lot of wisdom from their experiences. Don’t be overconfident in your investments. Andrew’s takeawaysStatistics is just one way of getting the information we need to decide; it’s not the only way. Actionable adviceSeek advice from neutral people who will direct you using facts and not emotions. No.1 goal for the next 12 monthsPanu’s goal for the next 12 months is to try to get to his hotel to full capacity.   Connect with Panu Boonsombathttps://www.linkedin.com/in/panu-boonsombat-ph-d-92407136/ (LinkedIn) https://www.facebook.com/Dr.Oppa.tv/ (Facebook) https://www.tiktok.com/@dr.oppa (TikTok) https://www.instagram.com/phd.panu/ (Instagram) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Mar 17, 2022
Ashutosh Garg – Be More Discerning About Your Investment Choices
23:43
BIO: Ashutosh Garg founded Guardian Pharmacy in India in 2003 and grew it to the second-largest pharmacy chain in India with over 200 stores. Now, he is a certified Business and Executive Coach and mentors several CEOs worldwide. STORY: Ashutosh invested in three investments at the height of the Dotcom boom. He didn’t do any research before investing and was just carried away by the hype at the time. All three investments went bust in 18 months. LEARNING: Don’t invest just because you have money. Reduce risks by understanding and learning from your mistakes.   “Don’t be impulsive and make investments simply because you have money available to invest.”Ashutosh Garg  Guest profilehttps://www.linkedin.com/in/coach-ashutoshgarg/ (Ashutosh Garg) founded https://www.guardian.in/ (Guardian Pharmacy) in India in 2003 and grew it to the second-largest pharmacy chain in India with over 200 stores. Now, he is a certified Business and Executive Coach and mentors several CEOs around the world on business matters, governance, strategic planning, succession planning, personal accountability, people and culture issues. He has also written 8 highly acclaimed bestsellers. Ashutosh in his new role as a storyteller hosts a very successful video and podcast titled “https://tbcy.in/ (The Brand Called You)”, bringing stories of successful entrepreneurs, professionals, and senior corporate leaders to thousands of listeners. He has interviewed over 1,000 people from around the World. Worst investment everIn 2000 when the Dotcom boom happened, Ashutosh was in senior management earning a pretty decent salary. It was also a time when get-rich-quick schemes were popular, and people were investing all over the world. Ashutosh would get messages from friends in Silicon Valley and New York about their investments, turning them into millionaires in just one month. At this point, Ashutosh’s greed was running way ahead of his logic. He decided to put money into three different investments; a retail company in the US, a software company in India, and a portal being developed in another part of the world. One of the investments made it to the Forbes list of best investments ever. Ashutosh was feeling very good about the investments. Over about 18 months, all three investments went under. Lessons learnedDon’t be impulsive and make investments simply because you have money available to invest. Be a little more discerning about where you want to invest. Don’t trust anybody blindly, especially with your investments. When you invest, make sure you’re involved somehow in that investment. At least make sure that you get weekly, fortnightly, monthly reports to keep you abreast of what is going on in that investment. When you make a mistake, don’t beat yourself up so much. Mistakes are normal. Learn from those mistakes and carry on. Andrew’s takeawaysThe best way to reduce risk is to understand and learn from your past mistakes. Common mistakes people make when investing: Failing to do their research Failing to assess and manage risk properly Being driven by emotion or flawed thinking Misplaced trust Failing to monitor their investment Investing in a startup company Actionable adviceOne, make sure you research your investment instrument. Two, talk to the startup founder and understand whether they have understood what the customer wants. Three, keep a close eye on the performance and funding of that organization. No.1 goal for the next 12 monthsAshutosh’s goal for the next 12 months is to finish writing his new book Management Lessons from Hindu Scriptures and give it in for public publication. Parting words  “Be careful of your investments.”Ashutosh Garg  [spp-transcript]   Connect with Ashutosh Garghttps://www.linkedin.com/in/coach-ashutoshgarg/ (LinkedIn) https://twitter.com/gargashutosh (Twitter) https://www.instagram.com/ashutoshgarg56/ (Instagram) https://www.facebook.com/ashutosh.garg.10 (Facebook)...
Mar 15, 2022
Nattaphol Vimolchalao – Experience in a Multinational Is Not Enough to Run a Startup
15:20
BIO: Nattaphol Vimolchalao is the Chief Executive Officer of Siam Rajathanee Public Company Limited, an outsourcing service. STORY: Nattaphol thought that hiring an executive from a world-class medical device company to run his startup was the way to make it succeed. However, though experienced, the executive had zero experience running a startup. The company went under within no time. LEARNING: You need more than experience to run a startup. Just because someone has experience managing a multinational company doesn’t mean they’ll be good at running a startup.   “You may be successful in managing one type of business, but that doesn’t mean that you will be successful at managing another.”Nattaphol Vimolchalao  Guest profilehttps://www.linkedin.com/in/nattaphol/ (Nattaphol Vimolchalao) is the Chief Executive Officer of https://www.siamrajathanee.com/th (Siam Rajathanee Public Company Limited), an outsourcing service. The company started as an agricultural business and later expanded to outsourcing services. Now, it is the leading outsourcing service company in Thailand. Nattaphol has a Bachelor’s degree in Physics from the University of Manchester. He finished his Master’s degree in Technology Policy Micro and Nanotechnology Enterprise from the University of Cambridge. Worst investment everAfter university, Nattaphol started a medical device trading firm and invested 10 million baht. He didn’t have experience running a business, but he thought he would be able to make it because he went to one of the best schools in the world. Nattaphol did everything from marketing, sales, and even hiring the first employee who happened to be an executive from a world-class medical device company. The employee had never worked in a small startup, and the way she went about running Nattaphol’s business was wrong. She spent a lot of resources hiring unnecessary employees, not understanding that the startup didn’t have a substantial human resource budget as a big company would. Cash flow was a problem from the beginning, and because Nattaphol didn’t keep track of the finances, the business was out of money within no time. Lessons learnedManaging a startup, a midsized company, a listed company, or a multinational company is different. You may be successful in managing one type of business, but that doesn’t mean that you’ll succeed at managing another. Andrew’s takeawaysWhen setting up a business, be careful about partnering with people who have experience running a big company because they may not be suitable for running a startup. It would help if you had more than brains and expertise to succeed in business. It’s a combination of how you work with people, the products you choose, how you build out a sales team, etc. No.1 goal for the next 12 monthsNattaphol’s goal for the next 12 months is to scale his company’s technology divisions to have a sizable income. Parting words  “Don’t give up. To be honest, like, my worst failure is the thing that drives me forward now.”Nattaphol Vimolchalao  [spp-transcript]   Connect with Nattaphol Vimolchalaohttps://www.linkedin.com/in/nattaphol/ (LinkedIn) https://www.siamrajathanee.com/th (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Mar 13, 2022
Geoffrey Moore – Don’t Mix Complex and Simple Business Systems
33:47
BIO: Geoffrey Moore is an author, speaker, and advisor who splits his consulting time between start-up companies in the Wildcat Venture Partners portfolio and established high-tech enterprises. STORY: Geoffrey was a venture partner in an investment firm that decided to delve into computer storage. The company, against Geoffrey's advice, decided to expand the project but didn't have enough capacity to get the product to market. LEARNING: Think about a venture portfolio as an exercise in 10-year liquidity. Some things are better suited to incremental change.   “Think realistically about time to liquidity instead of just thinking about dominating the market.”Geoffrey Moore  Guest profilehttps://www.linkedin.com/in/geoffreyamoore/ (Geoffrey Moore) is an author, speaker, and advisor who splits his consulting time between start-up companies in the Wildcat Venture Partners portfolio and established high-tech enterprises. Moore’s life’s work has focused on the market dynamics surrounding disruptive innovations. His first book, https://amzn.to/35H8IyI (Crossing the Chasm), focuses on the challenges start-up companies face transitioning from early adoption to mainstream customers. Worst investment everIn 1998, an investment firm asked Geoffrey to join as a venture partner. To which he agrees. The venture then brought in an excellent professor from a prestigious technical university who had an idea about computer storage. Geoffrey and everyone else thought this was a brilliant idea. It turns out implementing the concept was a lot harder than anybody thought. There were just too many variables making it hard to turn the concept into an actual realizable product. But the team believed in the idea, and they pushed on and had early market success. Investors wanted to go big, but Geoffrey thought they should take it slow. They ignored his advice and even changed management and brought in a leading personal computer firm guy. Huge market risks marred the project expansion from the start. The company spent a lot of money on marketing and sales forces. The sales cycles would take forever. Eventually, the company gave up trying to market the product. They asked Geoffrey to help, but the product didn’t have enough differentiation to get it to the finish line. Lessons learnedThink about a venture portfolio as an exercise in 10-year liquidity. You can’t transition from a complex systems business model to a volume operations business model in either direction. These two models are radically different; you must never try to combine them. Get a team that is fit for the transition. If you’re going to be disruptive, you’re going to be on a timer, so make sure you establish your business before the present catches up to you. Andrew’s takeawaysSome things are better suited to incremental change. Ensure you have enough runway and resources for the venture to take off before the competitors do or before a solution comes out. Actionable adviceThink realistically about time to liquidity instead of just thinking about dominating the market. No.1 goal for the next 12 monthsGeoffrey’s goal for the next 12 months is to promote his new book, https://amzn.to/3hDfwzW (The Infinite Staircase). Parting words  “Risk-adjusted returns is the key idea, not just returns.”Geoffrey Moore  [spp-transcript]   Connect with Geoffrey Moorehttps://www.linkedin.com/in/geoffreyamoore/ (LinkedIn) https://twitter.com/geoffreyamoore?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor (Twitter) https://www.youtube.com/user/geoffreyamoore (YouTube) https://wildcat.vc/ (Website) https://infinitestaircasebymoore.com/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points)...
Mar 10, 2022
Brenda Bence – Think Long Term Even in the Face of Risk
24:04
BIO: Brenda Bence is one of the world’s top executive leadership coaches and motivational keynote speakers. STORY: Brenda’s worst investment ever was pulling out of an investment to safeguard the funds she needed to fund her new business. LEARNING: Think long-term, even in the face of heightened risk. Don’t let emotions, primarily fear, impact your investment decisions. Diversify your portfolio.   “Don’t let fear impact your investment decisions.”Brenda Bence  Guest profilehttps://www.linkedin.com/in/brendabence/ (Brenda Bence) is one of the world’s top executive leadership coaches and motivational keynote speakers. Recognized by both Thinkers50 and Global Gurus as an expert in her field, Brenda earned her MBA from Harvard Business School and authored 11 award-winning books on leadership, coaching, and branding. Brenda left the corporate world after a successful career managing megabrands for Fortune 100 companies. She is successfully running her own business out of offices in both Singapore and the US – an experience that has given her ample opportunity to make plenty of mistakes! Brenda’s latest book, https://amzn.to/3IDvWVa (The Forgotten Choice: Shift Your Inner Mindset, Shape Your Outer World), is available for sale. As a gift to listeners, Brenda has agreed to offer a complimentary copy of the https://amzn.to/3MeVVo9 (Companion Guide to The Forgotten Choice) – a workbook full of exercises to coach you through the book’s core topics and deepen your self-awareness. To receive your free fillable PDF copy of the Companion Guide, email a receipt of your purchase of The Forgotten Choice book to books@brendabence.com. Worst investment everAfter 9/11, Brenda realized that she was not happy with her corporate job even though she was pulling in a very nice six-figure salary plus generous bonuses every single year. She told her husband she wanted to start her own company. Just months after starting the business, Brenda convinced her husband to get out of the market to safeguard the funds they needed to fund her new business. The couple went primarily into cash and sold over 90% of their equity investments. In 2003, the market went up 28%, and in 2004 it went over 10%. So the market was going up, but they didn’t get back into investing for about three years. Brenda and her husband lost all those growth opportunities. Lessons learnedYou have to think long-term, even in the face of heightened risk. Don’t let emotions, primarily fear, impact your investment decisions. Andrew’s takeawaysOne of the most complex parts of investing is adding to your investment at the bottom of the market because everything looks terrible. Think long-term and diversify your portfolio. Actionable adviceWatch how you’re thinking about things because we have self-limiting beliefs that drive just about everything we do. No.1 goal for the next 12 monthsBrenda’s goal for the next 12 months is to build more passive income through content that will add value. Parting words  “Enjoy, have fun, and let go of fear.”Brenda Bence  [spp-transcript]   Connect with Brenda Bencehttps://www.linkedin.com/in/brendabence/ (LinkedIn) https://www.facebook.com/BrendaBenceInternational (Facebook) https://www.instagram.com/brenda.bence/?hl=en (Instagram) https://www.youtube.com/user/brendabence (YouTube) https://brendabence.com/blog/ (Website) https://amzn.to/3IDvWVa (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market)...
Mar 08, 2022
Nik Kennett – Tap into the Power of Journaling
21:11
BIO: Nik Kennett and his wife Allie are a US-based couple with a love of travel and adventure currently on a self-funded 6-month sabbatical through Europe and Asia. STORY: Nik stopped by a gas station in Croatia and assumed that a green handle on the fuel pump indicated diesel as it does in the US. This assumption made him put petrol in a diesel car. This rookie mistake almost cost them their well-planned 6-months long trip. LEARNING: Create space in your life to focus on what’s important. Always have travel insurance.   “Create space in your life to focus on what’s important.”Nik Kennett  Guest profilehttps://www.linkedin.com/in/nkennett/ (Nik Kennett) and his wife Allie are a US-based couple with a love of travel and adventure currently on a self-funded 6-month sabbatical through Europe and Asia. They attribute much of their success to financial planning and the accumulation of over 1.7 million credit card points and miles. Nik and Allie believe in the transformative power of travel and that an intentional sabbatical or gap year can be an incredible form of personal development and a great way to forge lasting bonds as a family or couple. That is why they have committed to documenting their journey and providing valuable tips and advice around how to plan and afford travel through ‘https://awaytogether.com/ (Away Together),’ their site, and https://www.youtube.com/channel/UChRPxEtVjOnubXwXC0dm6Uw (YouTube channel). Worst investment everNik has made a few mistakes while he and his wife traveled through Europe and Asia while on a 6-month sabbatical. These mistakes have taught him a lot about traveling safely and smartly. One notable mistake was when traveling from Croatia to Italy. Before entering Italy, they needed some gas, so Nik stopped by a fuel station, grabbed the pump, and fueled their car. After driving off for a few meters, the car just suddenly stopped. It took him a while to realize the problem. He had put petrol in a diesel car. Nik had grabbed the fuel pump with a green handle at the gas station, assuming that the green handle indicated diesel as in the US. This rookie mistake set the couple back a lot of hours and money. It almost made them cancel their trip. Lessons learnedKeep a journal so you can document what you’re doing. Andrew’s takeawaysAlways buy travel insurance. Actionable adviceCreate space in your life to focus on what’s important. No.1 goal for the next 12 monthsNik’s goal for the next 12 months is to use their experience and adventure to help other people travel more and create bonds with their loved ones. Parting words  “Think about what you want, write it down and work like crazy to make it happen.”Nik Kennett  [spp-transcript]   Connect with Nik Kennetthttps://www.linkedin.com/in/nkennett/ (LinkedIn) https://www.facebook.com/awaytogethertravel (Facebook) https://www.instagram.com/awaytogethertravel/ (Instagram) https://www.youtube.com/channel/UChRPxEtVjOnubXwXC0dm6Uw (YouTube) https://awaytogether.com/ (Website) https://awaytogether.com/worst/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew...
Mar 06, 2022
Richard Bliss – True Wealth Is Very Different From Income
39:20
BIO: Richard Bliss is the founder of BlissPoint Consulting, a social media consulting company that helps improve executives’ online communications and sales teams’ social selling behaviors. STORY: Richard got a cash gift of $500,000 from his employer. After paying 50% tax, he spent the rest to pay his student loans bought a new car, a house, and some furniture. He regrets not investing what remained after paying his debts. LEARNING: Small, incremental investments over time are more important than large lump sums. Find ways to make money and then invest in the stock market to turn that money into wealth.   “Focus on the consistent, timely, small, incremental steps to growing wealth rather than trying to go hit the home run.”Richard Bliss  Guest profilehttps://www.linkedin.com/in/bliss/ (Richard Bliss) is the founder of https://blisspointconsult.com/ (BlissPoint Consulting), a social media consulting company that helps improve executives’ online communications and sales teams’ social selling behaviors. A LinkedIn Top Voices Influencer, experienced executive communications manager, and social media coach, Richard has helped thousands of people master social media tools and become fluent in social conversations, building their platforms and confidence to reach their audience and define their brand effectively. Worst investment everRichard was part of a company that had a huge windfall, and the owner of the company felt that he had made an enormous contribution. So he gifted Richard $500,000 cash as a thank you. Richard was left with $250,000 after paying 50% in taxes. He used the balance to pay off his debts and bought a new car, house, and furniture. Richard even bought furniture for some of his relatives. In about eight months, he had zero money in his bank account. Richard regrets having so much cash and not investing it. Lessons learnedSmall, incremental investments over time are more important than large lump sums. Focus on the consistent, timely, small, incremental steps to growing wealth and growing success, rather than trying to hit the home run. Andrew’s takeawaysDon’t invest in the stock market if you want to get rich. The stock market is where you grow your wealth. Focus on creating a cash flow machine and then use the stock market to grow it. Actionable adviceWhen a windfall comes in, pay off your debts and then take whatever’s left and invest it so that it’s not part of your living expenses. No.1 goal for the next 12 monthsRichard’s goal for the next 12 months is to double his company’s revenue again just like last year and continue this trajectory of growth.   [spp-transcript]   Connect with Richard Blisshttps://www.linkedin.com/in/bliss/ (LinkedIn) https://www.facebook.com/Blisspoint-Consulting-339895566905161/ (Facebook) https://blisspointconsult.com/ (Website) https://amzn.to/3C5Bzc8 (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)...
Mar 03, 2022
David Segura – Sometimes Slowing Down Can Keep You Alive
30:25
BIO: David Segura is an accomplished entrepreneur and investor. He currently serves as the CEO of Glassbox Media. This podcast platform enables Podcast Hosts to grow their brand revenue and new listener base with direct investment and technology support. STORY: David invested in and joined a startup in New York. The company was growing fast, and after their Series A funding, they got convinced by the lead investor to expand to London and other international cities prematurely. The company could not sustain the growth. LEARNING: Be deliberate with your growth plans. Focus on quality growth that you can build on.   “Be deliberate with your growth plans.”David Segura  Guest profilehttps://www.linkedin.com/in/david-segura-91822a1/ (David Segura) is an accomplished entrepreneur and investor. He currently serves as the CEO of https://glassboxmedia.com/ (Glassbox Media). This podcast platform enables Podcast Hosts to grow their brand revenue and new listener base with direct investment and technology support. David previously founded Giant Media, serving as the CEO from launch through acquisition. The company was an early Video Advertising Exchange that included AMEX, L’Oreal, and Dollar Shave Club clients. David launched the company in 2009, and an AdTech roll-up acquired it in 2014. David is also an active startup investor with upwards of 60 investments. Worst investment everDavid got interested in a startup company based in New York and invested in 2017. He believed that the genesis of that business was terrific, and the founder was brilliant. The founder even convinced him to get on board as an investor and as the chief strategy officer. The company was doing well in New York, and they decided to expand to other cities. To do so, the company had to raise funds. They raised $12 million in their Series A, and the lead investor was British, and they wanted the company to devote a lot of that capital to expand into London as soon as possible. The data indicated that they should double, even triple down in New York and not expand internationally. David tried convincing the founder that expanding internationally was not a strategic decision and they should instead push back. But they didn’t. They just went with the flow and used a significant amount of the capital raised to expand internationally. Not just London, but other places as well. The fast growth was too much for the company, and it couldn’t handle the capacity. Lessons learnedBe deliberate with your growth plans. Sometimes it’s prudent to slow it down to be more sustainable. When investing in a startup, it’s ok not to know what you’re doing or be a little scared. Identify the problem holding your business back and solve it. If you keep ignoring the elephant in the room, you’ll regret it. Andrew’s takeawaysGrowth, in and of itself, is not everything; it’s got to be quality, growth that you can build on. The growth that goes beyond the capacity of the operations to deliver what you’re promising is not good. Whenever you’re expanding, locally or internationally, take the time to look at the risk and return. Actionable adviceWhether you’re the founder, an angel investor, or even a VC, continually evaluate what the company is doing. Be honest with the senior executives and yourself and figure out ways to minimize risk. A lot of times, that means just focusing and narrowing down. No.1 goal for the next 12 monthsDavid’s goal for the next 12 months is to grow Glassbox Media into a US household name that creators and podcast hosts think of when they need help to scale their audience and revenue.   [spp-transcript]   Connect with David Segurahttps://www.linkedin.com/in/david-segura-91822a1/ (LinkedIn) https://twitter.com/dseg10 (Twitter) https://www.instagram.com/dseg10/ (Instagram) https://glassboxmedia.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market)...
Mar 01, 2022
Andrew Henderson – Become a Nomad Now
37:21
BIO: Andrew Henderson is a lifelong entrepreneur, world traveler, investor, and founder of Nomad Capitalist. He helps other investors and entrepreneurs create their nomad strategy, go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom. STORY: For Andrew, his worst investment ever was being born with US citizenship. He’s always felt that had he been born anywhere else, he’d have had an entirely different life. However, he kept staying because many people would call him a traitor and ridicule him whenever he wanted to exit that investment. LEARNING: Go where you’re treated best. You don’t have to keep your citizenship for the rest of your life.   “There are 252 countries and territories in the world. The idea that yours is best at everything, let alone anything, is pretty egregious.”Andrew Henderson  Guest profilehttps://www.linkedin.com/in/nomadcapitalist/ (Andrew Henderson) is a lifelong entrepreneur, world traveler, investor, and founder of Nomad Capitalist. He helps other investors and entrepreneurs create their nomad strategy, go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom. Born and raised in the United States, Andrew left Arizona State University to start his own business. When his first business became successful, he started traveling a little. Within a few years, he began traveling at least half the time. He noticed that even though he was spending over six months outside of the US, he was still paying 43% in taxes! The money he wasn’t giving to the government or spending on travel, he reinvested into other businesses in the United States. But this meant, as those became profitable too, they cost a lot more in taxes. Andrew has spent over 12 years traveling to more than 100 countries, looking for and experimenting with the best places worldwide to employ offshore strategies and reduce your tax bill to nearly 0%. Andrew and his team dedicate their time to helping others get to this life of near-complete freedom. Worst investment everFor Andrew, his worst investment ever didn’t come with a choice – his US citizenship. He’s always felt that he’d have had an entirely different life had he been born anywhere else, say Canada. However, he kept staying because many people would call him a traitor and ridicule him whenever he wanted to exit that investment. But when Andrew realized that he was paying tremendous costs to be in the US, he eventually left and started his nomadic life. Lessons learnedGo where you’re treated best. Don’t hang around with a bad investment that’s not serving you just because there’s some dominance in that market. Build your infrastructure faster when you decide to be nomadic. Andrew’sAndrew’s takeawaysYour citizenship is an investment ultimately given to you at birth, but you don’t have to keep it for the rest of your life. Actionable adviceThere’s nothing wrong with lowering your taxes, and there are always options to get your taxes to zero. If you’re a risk-taker, you can take more risks, hire a lot more people, contribute a lot more, and give a lot back by lowering your taxes. No.1 goal for the next 12 monthsAndrew’s goal for the next 12 months is to build the vision for his team and build a bigger and stronger team of leaders. Parting word  “Are you in every part of your life going where you’re treated best?”Andrew Henderson  [spp-transcript]   Connect with Andrew Hendersonhttps://www.linkedin.com/in/nomadcapitalist/ (LinkedIn) https://twitter.com/nomadcapitalist (Twitter) https://nomadcapitalist.com/ (Website) https://www.amazon.com/Nomad-Capitalist-Companies-Citizenship-Investments/dp/B09F16Q6G8 (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform...
Feb 27, 2022
Mark Fidelman – Seek Advice to Avoid Real Estate Mistakes
23:17
BIO: Mark was a columnist for Forbes for four years and is the author of the book SOCIALIZED! STORY: Mark started investing in real estate on the west coast of Florida when the market was up, but he didn’t heed to signs of a downturn and ended up making huge losses in 2008 when the financial crisis hit. LEARNING: Know your market and remember that the market doesn’t always go up. Make sure you apply the experience you acquire.   “Group knowledge is power.”Mark Fidelman  Guest profilehttps://www.linkedin.com/in/fidelman/ (Mark Fidelman) has been named a 2017 Top 20 influencer of CMOs by Forbes Magazine, a Top 25 Social Media Keynote Speaker by Inc Magazine, and a Huffington Post Top 50 Most Social CEO. Mark was a columnist for Forbes for four years and is the author of the book https://amzn.to/3tdQKw3 (SOCIALIZED!) He also hosts a popular marketing https://www.youtube.com/fanaticsmedia (YouTube channel). Worst investment everIn 2005, US real estate was booming. A couple of states, California in particular, were increasing in value tremendously. So Mark decided that because California was too expensive, he’d try the west coast of Florida, in Naples, Tampa, or St. Petersburg. He started investing there, and his investments were doing well. The stroke of luck made Mark cocky, and he started thinking he was the greatest investor ever because no matter what he touched, it turned around, and he made a ton of money. And so, even with warning signs in 2007 that the market was going to change, Mark continued to plow ahead, thinking he’d figure out a way out of it. The market overturned in 2008, and Mark’s project turned into a loss. Lessons learnedKnow your market. Make sure your spouse or your business partners are on board with your investment idea. If you’re going into investments in real estate, join a real estate mastermind group. Andrew’s takeawaysRemember that the market doesn’t always go up. Experience is valuable, so as you gather that it, make sure you’re applying it. You don’t get rewarded for not knowing the macro. Actionable adviceGather an advisory board made up of a group of people that know the particular field you want to invest in. Gather all the input from this board and then make a decision. No. 1 goal for the next 12 monthsMark’s goal for the next 12 months is to prepare for a high inflationary environment. Parting words  “Be vigilant, overanalyze things, take risks, but make sure you mitigate those risks as best you can.”Mark Fidelman  [spp-transcript]   Connect with Mark Fidelmanhttps://www.linkedin.com/in/fidelman/ (LinkedIn) https://twitter.com/markfidelman (Twitter) https://www.youtube.com/fanaticsmedia (YouTube) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Feb 24, 2022
Mabel Nuñez – Is an MBA Really Going to Take You Where You Want to Go?
22:07
BIO: Mabel Nuñez is the founder and Chief Education Officer at Girl$ on The Money, a stock market investing education company targeted to women, minorities, and individuals underrepresented in the world of investing. STORY: Mabel spent so much money and time taking an MBA that didn’t materialize to anything. Her biggest mistake was never building connections while studying. LEARNING: Make connections in your field as you study. Join career associations to make connections in your area.   “Use your time as a student to make connections in that field.”Mabel Nuñez  Guest profilehttps://www.linkedin.com/in/girlsonthemoney/ (Mabel Nuñez) is the founder and Chief Education Officer at https://girlsonthemoney.com/ (Girl$ on The Money), a stock market investing education company targeted to women, minorities, and individuals underrepresented in the world of investing. Mabel teaches highly rated courses centered on stock market investing and is the author of two best-selling books. Through all of her resources and social media, she shares what she has learned (and continues to learn) since starting her investing journey back in 2008. Mabels holds both a Bachelor of Science and an MBA in Finance. However, most of what she’s learned about investing came from experience. Mabel is currently offering an online course https://girlsonthemoneycourses.teachable.com/p/ready-set-invest (Ready, Set, Invest workshop) and has extended a 20% discount to all My Worst Investment Ever podcast listeners. Use Code: Abundance2021 to enjoy the discount. Worst investment everWhen Mabel turned 26, she decided to start pursuing an MBA. She took the GMAT and did horribly. Mabel paid for this expensive course to teach her how to master the GMAT, which didn’t help. However, she finally got into an excellent MBA school in New York City. Mabel was excited about getting the MBA because she believed it was her ticket to getting a fancy job on Wall Street. Little did she know that all that sacrifice of going to school part-time and working full time for four and a half years wouldn’t yield her much. After Mabel graduated with a degree, she realized that she had done nothing else but go to school throughout those four and a half years. She wasn’t making connections with people in the field where she wanted to work, and that’s probably why she was never able to build a career on Wall Street despite her expensive MBA. Lessons learnedIf you want to work in the field you are studying in, take your time as a student to make connections in that field. Andrew’s takeawaysConsider joining the associations in your career field to build connections and relationships. Actionable adviceFind a mentor or someone on the same career path as you or more experienced. Don’t just blindly listen to people that don’t know what they’re talking about. Find someone who understands your journey and can give you some valuable advice because the right mentor could save you a lot of time and money. No. 1 goal for the next 12 monthsMabel’s goal for the next 12 months is to use social media more to make a stronger connection with her audience. She also hopes to finish translating her first book into Spanish. Parting words  “Take risks because that’s how you get ahead in life but just make sure they are calculated risks.”Mabel Nuñez  [spp-transcript]   Connect with Mabel Nuñezhttps://www.linkedin.com/in/girlsonthemoney/ (LinkedIn) https://twitter.com/girlsonthemoney (Twitter) https://www.facebook.com/girlsonthemoney (Facebook) https://www.instagram.com/girlsonthemoney/ (Instagram) https://girlsonthemoney.com/ (Website) https://girlsonthemoney.com/2020/05/07/free-resources-for-investing-beginners/ (Resources) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them)...
Feb 22, 2022
Henry Eisenstein – Get References Before You Hire
21:31
BIO: Henry Eisenstein is a residential and commercial real estate agent and a real estate investor. He has personally sold and been a part of over $120 million worth of real estate transactions. STORY: Henry blindly hired a contractor referred to him by a friend. The contractor was so bad at his job and a project that should have lasted eight weeks took six months. Instead of costing $35,000, Henry spent nearly $60,000. LEARNING: Don’t hire a professional without references. Have good contracts in place that clearly outline milestones and timelines.   “Referrals are the easiest sales pitches in the world.”Henry Eisenstein  Guest profilehttps://www.linkedin.com/in/henry-eisenstein-010bb1102/ (Henry Eisenstein) is a residential and commercial real estate agent and investor. He has personally sold and been a part of over $120 million worth of real estate transactions. This success comes despite being a two-time college dropout and suffering from suicidal thoughts and depression from age 8 to 18. Henry inspires others through his speeches on entrepreneurship, sales, mindset, and business at colleges and charity organizations around the US. Henry has a coaching program called The Ultimate Real Estate Accelerator. The 12-month program helps realtors create a $1m net worth and design a lifestyle they desire. The regular price is $2,997 but will be $997 for My Worst Investment Ever podcast listeners! DM Henry “STOTZ” on Instagram https://www.instagram.com/henryeisenstein/ (@henryeisenstein), and he will get you set up! Worst investment everHenry wanted to buy his first investment property as a primary residence using an FHA loan. The property was a four-bedroom family property. He searched for a contractor, and a friend referred one to him. Henry blindly trusted the friend. Everything seemed great. What should have been a  6-8 weeks project turned into a six-month project. Initially, the project was a $35,000 job, but it turned into a nearly $60,000 experience. By the end of it, about 70% of the work was done six months later, and Henry had to fire the contractor before he completed the project because he was still asking for more money, and he was doing nothing. Lessons learnedDo your due diligence up front before you hire anyone. Get 2-4 recommendations at the very least when hiring any professional. Don’t hire a professional without references. Andrew’s takeawaysHave good contracts in place that clearly outline milestones and timelines. Actionable adviceBefore you sign anything with anybody, make sure you get multiple references and see proof of their work. No. 1 goal for the next 12 monthsHenry’s goal for the next 12 months is to buy 100 units in his investment company. Parting words  “Don’t hesitate to reach out to the incredible mentors out there. We’re one message away from helping you out.”Henry Eisenstein  [spp-transcript]   Connect with Henry Eisensteinhttps://www.linkedin.com/in/henry-eisenstein-010bb1102/ (LinkedIn) https://www.youtube.com/channel/UCd0oRNvaEW-JGqVNl4FupoQ (YouTube) https://open.spotify.com/show/5HBbis0yc6mOmZrXRp2jUn?si=TSzhIjGIQ1OtDiJDZi38kQ&nd=1 (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Feb 20, 2022
Siravich Wongpanich – Don’t Be Overconfident When Investing in Crypto
16:02
BIO: Dr. Siravich Wongpanich is a founder of the Money Clinic, a Thai Facebook page about trend-following trading. He is a doctor and a trader in the stock market, cryptocurrencies, and futures. STORY: Siravich invested in cryptocurrencies without research or a risk management plan. He lost 1/5th of his investment. LEARNING: Be careful dealing with futures. Find your sweet spot and try to operate within that sweet spot.   “Have an investment plan and follow it.”Siravich Wongpanich  Guest profilehttps://www.linkedin.com/in/siravich-wongpanich-79a1ab180/ (Dr. Siravich Wongpanich) is a founder of the https://www.facebook.com/MoneyClinicTH (Money Clinic), a Thai Facebook page about trend-following trading. He is a doctor and a trader in the stock market, cryptocurrencies, and futures. Siravich has an ongoing online course, Tools to Trend Trader Online Course and has extended a 15% discount to all My Worst Investment Ever Podcast listeners. Message him on https://web.facebook.com/MoneyClinicTH?_rdc=1&_rdr (Facebook) to get your discount. Worst investment everWhen Siravich started investing in cryptocurrencies through futures contracts, he was super excited about the booming market. He jumped right into it without any research or a risk management plan. The cryptocurrency market was quite volatile, going up and down pretty fast. Siravich got 10x profit at one time but also lost around 1/5 of his capital in the end. Lessons learnedBe careful dealing with futures. Avoid revenge trading. Long-term investing is better than short-term investing. Andrew’s takeawaysWe need to compound our savings and investments over time to have enough money to do the things we want, such as retire. If you invest with overconfidence, the market will take your confidence away. Find your sweet spot and try to operate within that sweet spot. Actionable adviceHave an investment plan and follow it because if you fail to plan, you are planning to fail. No. 1 goal for the next 12 monthsSiravich’s goal for the next 12 months is to build a community on Facebook. He’s also working on building a trading strategy that suits him. Parting words  “Develop and improve yourselves by learning from your previous experience and mistakes.”Siravich Wongpanich  [spp-transcript]   Connect with Siravich Wongpanichhttps://www.linkedin.com/in/siravich-wongpanich-79a1ab180/ (LinkedIn) https://twitter.com/MoneyClinicTH (Twitter) https://www.facebook.com/MoneyClinicTH (Facebook) https://www.blockdit.com/MoneyClinicTH (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Feb 17, 2022
Golf Sarun – Don’t Trust People with Your Investment
20:33
BIO: Golf Sarun is the founder of a Thai Investment channel, Longlongthun (ลองลงทุน), which aims to educate his fellows about how to invest in crypto efficiently, stocks, and many other things. STORY: When Golf was 18 years old, one of his friends told him of his father’s company listed in the stock market. The stock was doing well and would to do even better due to a project coming up. Golf told his mom about the stock, and she invested. A few months later, the stock price plummeted and never recovered. Golf’s mom lost 60% of her investment. LEARNING: Don’t trust people with your investment. You have to invest on your own and for your own reasons.   “Don’t trust people with your investment.”Golf Sarun  Guest profileGolf Sarun is the founder of a Thai Investment channel, https://longlongthun.com/?fbclid=IwAR33tWxnTwZz8GmwVj2fVa_6Th0cVCYfUEbrEX7XcfR3vJ4l572XWfklObI (Longlongthun (ลองลงทุน)), which aims to educate his fellows about how to invest in crypto efficiently, stocks, and many other things. Worst investment everWhen Golf was 18 years old, he had friends with whom he hung out. The father to one of the friends in the group owned a company listed in the Thai stock market. At the time, the stock’s price was going up quickly. The friend told them that the price would continue to go up because of a new project coming up. Golf saw this as an opportunity to make money quickly. He went home and told his mom about it. His mom sold her gold to buy the stock. After purchasing the stock, the project’s news came out, and the price went up. But after a few months, the price started going down so fast, and Golf’s mom lost 60% of her investment. Lessons learnedDo your research before investing in anything. Set clear boundaries of buying and selling conditions. Learn to read financial statements. Don’t trust people with your investment. Andrew’s takeawaysJust because you have information or some news, you don’t know how the markets will perceive that news. You have to invest on your own and for your own reasons. Have predetermined future actions for when the market crashes or goes up. Actionable adviceStudy technical graphs and apply them in investing. No. 1 goal for the next 12 monthsGolf’s goal for the next 12 months is to grow his portfolio by at least 20%. Parting words  “Keep increasing your knowledge, and your money will continue to increase.”Golf Sarun  [spp-transcript]   Connect with Golf Sarunhttps://twitter.com/LONGLONGTHUN (Twitter) https://www.facebook.com/LONGLONGTHUN (Facebook) https://www.youtube.com/c/%E0%B8%A5%E0%B8%AD%E0%B8%87%E0%B8%A5%E0%B8%87%E0%B8%97%E0%B8%B8%E0%B8%99 (YouTube) https://longlongthun.com/?fbclid=IwAR33tWxnTwZz8GmwVj2fVa_6Th0cVCYfUEbrEX7XcfR3vJ4l572XWfklObI (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Feb 15, 2022
Kamal Karanth – Work on Improving Your Relationships
22:15
BIO: Kamal Karanth is the co-founder of Xpheno, a specialist staffing company he has been building since 2017. He also co-founded the Indian Staffing Federation, a prominent voice for labor reforms in India. STORY: Kamal was thriving as a sales rep, but he wanted more, so he put himself up for promotion. He got promoted to area manager. All he did was work, but his performance didn’t match up. Eventually, everyone noticed, including Kamal’s boss. After a year and a half, he had to quit. LEARNING: Nurture your relationships. Always anticipate the risks of a new venture.   “Pay attention to your relationships, not materialistic gains. In the end, when we die, what we’ll leave are our relationships.”Kamal Karanth  Guest profilehttps://www.linkedin.com/in/kamalkaranth/ (Kamal Karanth) is the co-founder of https://www.xpheno.com/ (Xpheno), a specialist staffing company he has been building since 2017. He also co-founded the https://www.indianstaffingfederation.org/ (Indian Staffing Federation), a prominent voice for labor reforms in India. Kamal has been named as one of LinkedIn’s Top Voices in 2020. He is a columnist, a blogger, a vlogger and hosts weekly live sessions on workplace dynamics. A fitness enthusiast and movie buff, Kamal claims relationships define careers and believes all of us can do much better on the relationship front at work. Worst investment everKamal was working as a sales rep, and about 18 months into his job, he showed interest in being a manager. He attended managerial interviews and went on to become a manager. Kamal was doing great in his position, and the company invested heavily in him. After a while, Kamal asked to be promoted to area manager. Again, he did interviews, got promoted, and went to a new territory. Moving to a new city was also not so easy for Kamal. He had a hard time adapting to a new language, new food, new culture, and constant travel. Suddenly, he realized that he had to work even harder now that he had a bigger team to manage. Kamal’s leadership style was lead by example; people will follow you. So he worked hard doing almost 15 hours a day, no weekends, no movies, no cricket, only work. Kamal was burned out at the end of one year, yet his results were minimal. His boss was unhappy with him. His team members kept moving to other teams because they were not happy with him. In about a year and a half as the area manager, Kamal quit because he could no longer handle it. Lessons learnedNurture your relationships. Pay attention to those subtle external changes that are not in your control. Nurture your relationships. Andrew’s takeawaysNever underestimate changes that happen in your life. They can have a significant impact. When considering an opportunity, keep in mind that there are risks involved. Some things could go wrong. Actionable adviceWhen getting into a new venture, keep reminding yourself it will be challenging, have an exit plan for when it becomes more challenging than you think you can handle. No. 1 goal for the next 12 monthsKamal’s goal for the next 12 months is to bring back his fitness levels. He also wants to reconnect with all his contacts and nurture those relationships. Parting words  “Relationships matter. Stay on.”Kamal Karanth  [spp-transcript]   Connect with Kamal Karanthhttps://www.linkedin.com/in/kamalkaranth/ (LinkedIn) https://twitter.com/kamalkaranth (Twitter) http://kamalkaranth.com/ (Blog) https://www.xpheno.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Feb 13, 2022
Nesli Girgin – Dreams Don’t Always Come True, and That’s OK
12:25
BIO: Nesli Girgin is a content creator and expert in marketing campaigns, product introduction, and visibility. STORY: Nesli got an offer to move from Istanbul to New York to work for a multinational company. The United States immigration office needed one year of residence payments for her to move. The company only paid three months of residence and disappeared on her. Nesli had made some payments in anticipation of the move. She lost this money. LEARNING: Be patient and kind to yourself even when things don’t turn out as you hoped they would. Bad things happen for a reason, and they may change the direction of your life.   “Let’s take care of our health and happiness. This is the best thing we have.”Nesli Girgin  Guest profilehttps://www.linkedin.com/in/nesli-neslihan-girgin/ (Nesli Girgin) is a content creator and expert in marketing campaigns, product introduction, and visibility. With 20 years of banking, textiles, design, logistics, and business association experience, she has vast knowledge in general management. She is an expert in various industries, including foreign trade, payment solutions, business planning, and project management. Worst investment everNesli had to quit her job to take care of her sick mom. She started some work-from-home business projects. She would receive job offers from recruiters, and one offered her a job at a multinational company in New York. The company invited Nesli to live in New York. She was excited about this opportunity because she’d always dreamed of living in New York. They discussed everything, and Nesli signed agreements. Nesli started the immigration procedures, and the United States immigration office requested her for one year of residence payments. The company only paid three months of residence. Nesli tried her best to reach the HR teams, she wrote many letters to them, but unfortunately, they didn’t complete the rest of the payments. Eventually, she decided to stop trying to go to New York. Nesli had already made some payments in anticipation of her move. She ended up losing this money. Lessons learnedDon’t lose hope if something doesn’t happen as you dreamed it would. It will happen when it’s meant to happen. Andrew’s takeawaysEverything happens for a reason. Just let things happen. Bad things happen for a reason, and they may change the direction of your life. Actionable adviceBe patient and kind to yourself even when things don’t turn out as you hoped they would. No. 1 goal for the next 12 monthsNesli’s goal for the next 12 months is to complete some projects she’s working on with her wonderful team in Turkey.   [spp-transcript]   Connect with Nesli Girginhttps://www.linkedin.com/in/nesli-neslihan-girgin/ (LinkedIn) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Feb 10, 2022
Pankaj Jathar – Always Learn and Be Skeptical
23:43
BIO: Pankaj Jathar is the CEO of Prione, a company established in 2014 which enables small and medium businesses to grow in e-commerce. STORY: About 12 years ago, Pankaj invested in a company he saw journalists recommending on TV. He didn’t do any research and believed the reporters 100%. The stock price tanked a month later. Pankaj sold his stock a year later after taking a 75% capital loss. LEARNING: Be skeptical about the advice you receive, especially from the media. Learn and understand some of the basics of personal finance and investing. Be your own financial adviser.   “Educate yourself and be skeptical about what you read or see. Do your research, which will come once you learn.”Pankaj Jathar  Guest profilehttps://www.linkedin.com/in/jathar/ (Pankaj Jathar) is the CEO of https://www.prione.in/ (Prione), a company established in 2014 which enables small and medium businesses to grow in e-commerce. He has 10+ years of e-commerce experience, starting with Amazon in 2011. Being part of the India launch team and working in multiple roles, he has a deep understanding of the e-commerce value chain. He might be a white-collar worker on weekdays, but he enjoys writing his blogs on weekends, and that blog is https://www.stackingbeans.com/ (Stacking Beans) which he has been writing for more than a year. Worst investment everAbout 12 years ago, Pankaj would watch CNBC for the stock tickers and conversations, which got him a little interested. But he had not yet started learning about either personal finance or investing. So Pankaj kind of believed the experts and the pundits on TV, thinking they knew what they were talking about, and their advice was to be taken 100%. They did a company profile they recommended as an investment option for the short to medium-term. As the naive newbie that Pankaj was, he put a fair amount of money into that stock. A month later, it tanked and stayed there for a long time. He sold the stock at nearly a 75% capital loss. Lessons learnedBe skeptical about the advice you receive, especially from the media. Don’t listen to experts on TV. They are probably experts in their field but necessarily financial experts. Not all journalists do their homework or do the deep dive level you would expect. Journalists are paid to generate interest, talking points, news, etc. Listen to everyone, but do your research before you put your hard-earned money on the line. Understand what equity investing is about before you start. If you don’t have either the skill or the time to do an in-depth analysis on a particular company or stock to understand the nuances, then just don’t invest in it. Question all advisors. Try to understand their motives. Is that person on your side, or is it just about their benefit? Don’t confuse your circles of influence. For example, don’t ask your mom for stock-picking advice. Don’t ask your financial advisor for cooking tips. Those two circles are different. Andrew’s takeawaysThe media is not on your side; they are trying to generate income from you. You have to be your own financial adviser. You have a right and an obligation to investigate and ask questions. If you’re not satisfied with the answer you get, you have a right to ask again and again until you’re happy. If you’re going to own individual stocks, start with about 10. Holding less than 10 stocks exposes you to individual stock risks. More than 10 will just be similar to owning an ETF. Unrealized losses are real. If you’re in a position that you don’t think you should be in for the next year or so, then there’s nothing wrong with selling it and moving that money into something better. Actionable adviceEducate yourself. There are just no two ways about it. You have to educate yourself. Even if you’re going to pay someone else to manage your money, you still need to learn and understand some basics around personal finance, investing, and equity investments. Just know enough to ask the right...
Feb 08, 2022
Kamal Krishna – Let Building Partnerships Be Your Focus
24:58
BIO: Kamal Krishna is the founder and CEO of MOBILISE, Bangalore’s fastest-growing advertising & B2B marketing agency. STORY: Kamal was looking to diversify his business. He partnered with a former colleague who had the talent he was looking for. Unfortunately, he had a negative attitude towards entrepreneurship and never delivered the end of his bargain. Kamal had to cut him out and count his losses. LEARNING: It takes so much more than just talent to succeed. Choose your partners wisely.   “Choose your partners well. Spend time and put in effort when choosing partners, and I assure you, it’s all worth it.”Kamal Krishna  Guest profilehttps://www.linkedin.com/in/ksqr/ (Kamal Krishna) is the founder and CEO of https://mobilise.agency/ (MOBILISE), Bangalore’s fastest-growing advertising & B2B marketing agency. He has worked with significant advertising conglomerates for nearly 15 years before jumping into and starting his own company. Even though he did not invest anything initially, he kicked off MOBILISE with hard work, creativity, and client advances which made it profitable from day one. Worst investment everAbout six years ago, Kamal had just started his advertising business. While the business and prospects appeared good, there remained a fair bit of early apprehension around continuity, scale, capital, etc., you know, things that all entrepreneurs deal with in their initial years. As an advertising agency, Kamal found himself looking at an opportunity to diversify into creative and design services by bringing in a partner along with a then very substantial investment. An old colleague had visited Kamal’s office, and he was pretty excited about the venture. The colleague was keen to come in as an equity partner and bring in data and analytics capability to pair up with Kamal’s creative and design ability. On the face of it, he sounded great. So Kamal signed him up, took his money, but luckily decided to park it and committed to only touch it after a few months. Once they started working together, Kamal figured out quickly that his new partner wasn’t keen on getting his hands dirty, something any new venture requires. He was expecting entrepreneurship to be something of a comfort zone once the money had been brought to the table, not realizing that he was supposed to combine his ability with Kamal’s as a data and analytics subject matter expert. Most importantly, the partner should have worked hard to convince and deliver to new customers. Kamal found himself in a situation where he’d be making promises he didn’t think he could keep. His partner trusted his talent, all right, but consistently blamed failures on either the customers’ lack of understanding or their lack of appreciation of a startup. Kamal found himself faced with a choice; he could either use the capital from his partner and find a way to work with him or trust himself and his original plan to stay solo and cut any losses early on. Kamal decided to go solo and return his partner’s money. While bringing on this partner was the worst investment of his life, cutting his losses was probably one of the best decisions that turned his company into a profitable, growing business. Lessons learnedWhen hiring employees or choosing partners, remember that talent or individual ability alone isn’t and never should be a dealmaker. It takes so much more than just talent to succeed. A person can be supremely talented yet carry a very negative attitude towards work. Andrew’s takeawaysWhen someone comes into a company, make it clear what they will do and what they will bring. Actionable adviceFind partners who align with your vision and not just expect to receive without giving. A committed partner is so much more critical than any capital you can imagine. No. 1 goal for the next 12 monthsKamal’s goal for the next 12 months is to diversify further into brand new marketing communication specializations with new clients and renewed...
Feb 06, 2022
Amit Kumar – Offer Feedback in the Right Environment
17:10
BIO: Amit Kumar is the CEO of OLX Autos India. He is an entrepreneur, a business leader, and a speaker. STORY: Amit took an employee under his wing and mentored him for a couple of years. The employee later found another opportunity and had to leave the company. Amit decided to offer the employee some feedback during his sendoff party. The employee didn’t receive his feedback so well. The employee shut him out, changing the course of their relationship. LEARNING: Feedback is gradual. Offer feedback in the right environment.   “Feedback is not just about the annual appraisal; it’s more about being open to talking about it in your weekly one on ones.”Amit Kumar  Guest profilehttps://www.linkedin.com/in/execamit/ (Amit Kumar) is the CEO of OLX Autos India. He is an entrepreneur, a business leader, and a speaker. After his humble beginnings, Amit graduated from the Indian Institute of Technology, Bombay, and built multiple internet eCommerce ventures in Asia, Africa, and Europe. He is a regular contributor to Leadership, Entrepreneurship & Economics. He is passionate about human evolution and is a psychology geek. Worst investment everAmit’s company was scaling fast and needed skilled people to do this. They hired a brilliant young man who impressed Amit from the word go. He started investing his time mentoring the young man because he saw great potential. Amit believed that if the employee grew, the business would grow too. After about a year and a half of mentoring and working with that particular employee, the business grew almost ten times in that period. The employee eventually found another opportunity and had to leave the company. Amit decided to share some feedback with the employee at his sendoff party. The two were in the smoking room. Amit shared a few not-so-easy to hear things about the employee. They parted ways happily, and Amit thought everything was ok, but later realized that the employee had utterly shut him out. He figured it was the hustle of moving companies but, Amit realized that their relationship had changed after a few months. When he looked back, he realized that the feedback session was what had changed their relationship. Amit should have handled it better. Lessons learnedDon’t offer feedback suddenly and all at once. It has to be gradual. Enable two-way feedback. Andrew’s takeawaysOffer feedback in the right environment to be received well and be impactful. Put your principles before your personality whenever you’re getting frustrated with someone. Actionable adviceDon’t wait until the annual appraisal to offer feedback. Do it as often as weekly during your one-on-ones. Put your verbal feedback in writing as well. No. 1 goal for the next 12 monthsAmit’s goal for the next 12 months is to continue to become a better, healthier, and happier human being.   [spp-transcript]   Connect with Amit Kumarhttps://www.linkedin.com/in/execamit/ (LinkedIn) https://twitter.com/execamit (Twitter) https://www.facebook.com/execamit (Facebook) https://amit.vision/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew...
Feb 03, 2022
Stu Heinecke – Never Cling to One-to-One Leverage
34:29
BIO: Stu Heinecke is a bestselling author, one of the Wall Street Journal’s cartoonists, and a twice-nominated hall of fame marketer. STORY: When Stu started his first business, he stuck to one-to-one leverage, making it impossible to scale his business even though he had some of the most elite clients. LEARNING: You cannot scale your business without the right team. Never cling to one-to-one leverage.   “If you want to scale something, you have to have a team.”Stu Heinecke  Guest profilehttps://www.linkedin.com/in/stuheinecke/ (Stu Heinecke) is a bestselling author, one of the Wall Street Journal’s cartoonists, and a twice-nominated hall of fame marketer. His https://amzn.to/3g8E9np (How to Get a Meeting with Anyone) was named one of the top 64 sales books of all time, while his next book explores a new growth strategy model based on weeds. His latest book, https://amzn.to/35GCcgl (How to Grow Your Business Like a Weed), will be released in June 2022. Worst investment everStu found himself stuck to the ideology of going to school, getting good grades, getting into a good college, getting good grades there, and then getting a good job. The problem with this ideology is that you can’t scale jobs. You can’t have 1,000 jobs at the same time. Stu found himself following this ideology even when he went into business. He got huge clients, but all he was doing was still one-to-one leverage. His company was still not scalable, but he didn’t realize it because he was stuck to one-to-one leverage. Clinging to one-to-one leverage was his worst investment ever. Lessons learnedYou cannot scale your business without the right team. Andrew’s takeawaysYou can’t scale your operation, your business, or your life alone. Find the right people to help you do it. Actionable adviceTo grow your business fast, go out, find referral partners and work with them right away. No. 1 goal for the next 12 monthsStu’s goal for the next 12 months is to make his latest book, https://amzn.to/35GCcgl (How to Grow Your Business Like a Weed), the number one best-selling growth strategy book in the world.   [spp-transcript]   Connect with Stu Heineckehttps://www.linkedin.com/in/stuheinecke/ (LinkedIn) https://www.youtube.com/channel/UClbbSY6wWjNiu5buNurz5TQ (YouTube) https://www.facebook.com/stu.heinecke.1 (Facebook) https://stuheinecke.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Feb 01, 2022
Atul Sethi – Remember to Write Things Down
19:56
BIO: Atul Sethi is the founder and managing partner of Farnam Tree, an investment advisor based in Bangkok, which is currently under pre-licensing. STORY: Atul bought stock in a retail business, but the share price plummeted due to poor corporate governance. He kept holding onto the stock in the hopes that the price would go back to what he’d bought it. Instead, it kept going down, and he lost a sizeable amount from his investment. LEARNING: Pay great attention to the people at the helm of the company you want to invest in. Don’t anchor to the purchase price.   “Don’t stay anchored to a stock’s purchase price.”Atul Sethi  Guest profilehttps://www.linkedin.com/in/atul-sethi-1076344/ (Atul Sethi) is the founder and managing partner of https://www.farnamtree.com/ (Farnam Tree), an investment advisor based in Bangkok, which is currently under pre-licensing. After graduating from the University of Chicago, he spent 12 years at Credit Suisse in the Chicago, Singapore, and Bangkok offices. Atul started as a junior investment banker and later worked as a bank analyst in their Thailand Equity Research team. He left Credit Suisse this year and is now focused on Farnam Tree. Atul interned with Andrew in 2006. Worst investment everAtul wanted to invest in the stock market, and his approach was to invest in a company with a substantial competitive advantage. He found a business in the retail industry that seemed like a good fit. All the hard work crushing numbers, looking at the financial statements, and understanding the business model was made by Atul. But, his due diligence ignored some red flags on corporate governance. There was an insider trading issue involving one of the senior management members at the company. This issue, and other questionable decisions, are something that should have caught his eye, but he ignored them and went ahead and bought the stock. Due to these issues, the stock price started going down. Atul made the mistake of holding onto the stock while waiting for the price to return to what he bought it. Unfortunately, the price kept going down, and he’d lost quite a sizeable amount by the time he decided to sell. Lessons learnedPay great attention to the people leading the company you want to buy into. Don’t anchor to the purchase price. If you sense a continuous downturn in the stock, sell it as soon as possible and put that money in another business or investment. Andrew’s takeawaysMake sure you’re fully aware of any corporate governance issues and understand which ones you can overlook and which ones you can’t. Actionable adviceBe objective when evaluating a stock. Write down all the reasons you like and don’t like the stock. Doing this will help you make a more accurate decision. No. 1 goal for the next 12 monthsAtul’s goal for the next 12 months is to get the company’s licensing and structure set up and hopefully present a solution for investing and managing portfolios in Thailand while addressing some of the problems he faced for most of the last decade in Thailand. Parting words  “I hope more and more people get access to your podcast and learn from it.”Atul Sethi  [spp-transcript]   Connect with Atul Sethihttps://www.linkedin.com/in/atul-sethi-1076344/ (LinkedIn) https://twitter.com/s3thi (Twitter) https://www.farnamtree.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple...
Jan 30, 2022
Paul Smith – Figure Out Your Secret Sauce First
28:36
BIO: Paul Smith is an independent corporate director and private investor with significant experience in the Financial Services and Investment Funds industries. He served as President and global CEO of CFA Institute from 2015 to 2019. STORY: Paul and his friends put in money to start a hedge fund seeding business in Hong Kong. The financial crisis hit just when they had received about 40% funding and had to pay back the investors who chose to get out. The partners had to close down the business and lost quite a substantial investment. LEARNING: Have a unique business model that investors will want to back. Don’t have a highly concentrated shareholder base. Get your business to at least $3 million as fast as possible to survive.   “Don’t allow the excitement of a startup to cloud your judgment.”Paul Smith  Guest profilehttps://www.linkedin.com/in/paul-smith-cfa/ (Paul Smith) is an independent corporate director and private investor with significant experience in the Financial Services and Investment Funds industries. He served as President and global CEO of https://www.cfainstitute.org/ (CFA Institute) from 2015 to 2019. He currently serves as a member of the Oversight, Policy, and Governance Committee of the https://www.frc.org.hk/en-us (Financial Reporting Council of Hong Kong). He is a https://www.sfc.hk/en/ (Hong Kong Securities and Futures Commission)’s Products Advisory Committee member. He is a founder of the http://sustainfinance.org/ (Sustain Finance )initiative and a trustee of the China Insight Foundation. Worst investment everPaul made a substantial amount of money from the sale of a business he owned, and he decided to quit his job and go out on his own. He set up a hedge fund seeding business in Hong Kong that he and a couple of other individuals funded with their money. Paul invested seven figures into the business. The plan was to set up the infrastructure behind a regulated asset management company, then go out and raise private equity-type investments to fund an investment vehicle. The investment vehicle would then, in turn, go out and seed investment managers. The partners raised money from a couple of institutions and some family and friends. The fund got regulated, and they began to seed managers, mainly in Asia but scattered worldwide. The company was about 40% invested when the 2008 financial crisis hit. Their institutional partners pulled the rug from underneath them. They paid the institutional partners back and unwound the business. As partners, they took quite a hit when the company ended. Lessons learnedWhen looking for investors, make sure you have a unique business model worth backing. Your shareholder base shouldn’t be too concentrated. Raise enough money for your business for it to survive. Resilience is vital when running a business. Andrew’s takeawaysIf you can’t find any uniqueness in what you’re doing, then be good in execution, or work with someone unique. You’ve got to get your business to between $3 to $5 million in revenue as fast as possible because that is how you’ll afford everything that makes you a professional company that can survive. Sometimes the success of your business depends on your timing into the market. Actionable adviceDon’t allow the excitement of a startup to blind you from implementing the lessons you’ve learned. Check your excitement and keep learning. No. 1 goal for the next 12 monthsPaul’s goal for the next 12 months is to try and get Sustain Finance more firmly established and get some corporate sponsors to help with that. He also wants to hire more researchers and significantly impact China’s asset management community. Parting words  “Remain curious. Keep asking yourself why other people are different from you in a non-judgmental fashion.”Paul Smith  [spp-transcript]   Connect with Paul Smithhttps://www.linkedin.com/in/paul-smith-cfa/ (LinkedIn) https://twitter.com/Paul_Smith (Twitter)...
Jan 27, 2022
Dato’ James S. W. Foo – Find the Right Perspective
35:37
BIO: James Foo has been seasoned by nearly three decades of hard knocks and life-worthy experiences. He offers a unique view of life in entrepreneurship, with valuable insights and advice from a panoramic view of things that can save you time and help your company grow. STORY: James badly wanted to be rich, and so when he saw his friend’s dad selling this incredible new machinery, he wanted to join him. James didn’t make a lot of background history on the machines and just started selling them to friends and family. After about nine months, the machines started working poorly and needed to be serviced. James had to return money to his customers when reaching his friend’s dad became futile. LEARNING: Learn the difference between growing and scaling a business. Be aware of what’s happening around you to avoid getting into trouble unaware. Admit once you’ve done something wrong, then apologize and make amends.   “He or she who has a better perspective wins. It’s not just about your insight, your influence, and intelligence. Perspective changes the way you see things.”Dato’ James S. W. Foo  Guest profilehttps://www.linkedin.com/in/datojamesfoo/ (James Foo) has been seasoned by nearly three decades of hard knocks and life-worthy experiences. He offers a unique view of life in entrepreneurship, with valuable insights and advice from a panoramic view of things that can save you time and help your company grow. Many give him the nickname “Business MacGyver.” James brings the know-how of a CEO-entrepreneur who has “been there, done that, still doing it to” help growth-oriented entrepreneurs meet real-world and marketplace challenges to take their company to the next level. James is also an invaluable connector which matches people with opportunities and connections to make things happen! James has founded 80 plus companies in three countries across 15 industries. Worst investment everJames’s good friend’s father was a very powerful individual who brought a lot of new-age machinery equipment into Malaysia. James saw it on TV and wanted to work with him and make lots of money selling one of these pieces of equipment, a water-air generator. So he asked his friend to introduce him to his dad. James was super excited at the idea of being rich and was probably impulsive, so much so that he just did a little background check on this business idea that he was chasing. He met his friend’s dad, who allowed him to work with him. James went door to door, literally knocking and selling this fantastic machine to family and friends. And they bought it just to support his entrepreneurial journey. After nine months of selling, James started getting calls from his customers asking him to service the machine. He had no idea how to service the machines, so he’d dismiss them by telling them that this was high-tech and didn’t need servicing. One phone call became two, then four became, and soon it was a trend. It got so bad that the customers even started calling James’s dad. James tried to meet with his friend’s dad to explain to him about servicing the machines, but he never managed to see him no matter what he tried. After a week or so of trying, James decided to return the money to his customers suffering a great loss. Lessons learnedIf you can’t differentiate between growing and scaling a company, you’re probably doing the wrong thing. Focus on the one thing that will have a domino effect on your business. Andrew’s takeawaysBe aware of what’s happening around you to avoid getting into trouble unaware. Admit once you’ve done something wrong, then apologize and make amends. Actionable adviceCheck who you surround yourself with. No. 1 goal for the next 12 monthsJames’s goal for the next 12 months is to travel abroad with his wife and daughters for a minimum of five months in a year, and when he comes back, his business is not just surviving, but it’s thriving. Parting words  “Buy Andrew’s books.”Dato’ James S. W....
Jan 25, 2022
Padmini Janaki – Nothing Is More Important Than Health
17:16
BIO: Padmini Janaki is the CEO and Co-founder of Mind&Mom, an AI app that predicts pregnancy abnormalities and cures. STORY: Padmini chased success with everything she had because she believed that’s what she was born and raised to do. It wasn’t until she forgot to feed her daughter that she realized she’d been chasing the wrong thing. LEARNING: Nothing or nobody is as important as you are. So invest a lot in yourself. If we don’t have health, we have nothing.   “Invest in yourself because nobody is as important as you.”Padmini Janaki  Guest profilehttps://www.linkedin.com/in/pjanaki/ (Padmini Janaki) is the CEO and Co-founder of https://mindandmom.com/ (Mind&Mom), an AI app that predicts pregnancy abnormalities and cures. She is also the author of https://www.amazon.com/Myths-Millennials-Book-about-Women-ebook/dp/B08PG3K38S (Myths & Millennials), with 35,000 readers worldwide. Her mission is to save women’s health globally and stop maternal deaths. Worst investment everPadmini believed that people are born and raised to be prosperous and financially stable. So she was in that manual mode while growing up. Padmini studied hard, and when she came out of university and started working, she emersed herself in work. All Padmini thought about was working hard to go up the corporate ladder and earn more. Padmini’s focus was only on how to be successful. Her version of success was making money, being the best employee, and getting promotions every year. Padmini worked non-stop. She even cut short her maternity leave to get back to her career journey. She felt this was what it took to get to the right level of success. One day she forgot to feed her daughter. She had late-night calls with clients and was so engrossed in the meetings that her daughter fell asleep without eating. It wasn’t until the following day, when Padmini’s daughter told her that she’d forgotten to feed her, that she realized she had been investing all her energy and focus into her career while missing out on the most important things in her life. Lessons learnedNothing or nobody is as important as you are. So invest a lot in yourself. Doing something that you’re passionate about instead of working hard to impress your boss or the people around you is the only way to succeed in life. You can be on your own, make the same money, bring the same value, be happy about it, and have a much more balanced life. Andrew’s takeawaysIf we don’t have health, we have nothing. You have to take responsibility for your health. You don’t have to destroy yourself and your health in a business; you can set your limits. Actionable adviceLearn at least one thing every single day. Set aside an hour every day to focus on learning something new by reading a book or watching a YouTube video that talks about something new. No. 1 goal for the next 12 monthsPadmini’s goal for the next 12 months is to go into infertility and hopefully serve 500,000 women so they can have better health. Parting words  “Whatever you’re doing, no matter how small, love it and do it with your full heart. I’m sure it’s going to turn out to be something even lovelier.”Padmini Janaki  [spp-transcript]   Connect with Padmini Janakihttps://www.linkedin.com/in/pjanaki/ (LinkedIn) https://www.instagram.com/padminijanaki/ (Instagram) https://mindandmom.com/ (Website) https://www.amazon.com/Myths-Millennials-Book-about-Women-ebook/dp/B08PG3K38S (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building...
Jan 23, 2022
Bryan Clayton – Remember That New Things Bring New Risks
21:14
BIO: Bryan Clayton is CEO and co-founder of GreenPal, an online marketplace that connects homeowners with local lawn care professionals. STORY: Bryan learned about Bitcoin from an employee who claimed to be a miner. He invested $10,000 without further research. Their Bitcoin wallet was hacked six months later, and he lost his entire investment. LEARNING: Don’t do anything unless your whole heart and soul are in it. Understand all the risks you’re exposed to before getting into something new.   “There is no one move on the chessboard that wins the game. There are no shortcuts; it’s always a build-up to the win.”Bryan Clayton  Guest profilehttps://www.linkedin.com/in/bryan-clayton-a96b33214/ (Bryan Clayton) is CEO and co-founder of https://www.yourgreenpal.com/ (GreenPal), an online marketplace that connects homeowners with local lawn care professionals. Before starting GreenPal, Bryan founded Peachtree Inc., one of the largest landscaping companies in Tennessee, and sold it in 2013. Bryan’s interest and expertise are related to entrepreneurship, small business growth, marketing, and bootstrapping businesses from zero revenue to profitability and exit. Worst investment everIn 2012, Bryan got to know about Bitcoin through one of his employees, a Bitcoin miner. The employee explained to Bryan the theory of Bitcoin and what it was. Bryan thought cryptocurrencies were pretty cool, and he was interested in investing in this invisible money. Bryan invested about $10,000 into Bitcoin. Six months later, his employee was in panic mode. Bryan learned that their Bitcoin wallet had been hacked and all their Bitcoin stolen. So, Bryan’s $10,000 went to zero just like that. Lessons learnedDon’t do anything unless your whole heart and soul are in it. You have to get into the game to understand and learn how to mitigate risks. Andrew’s takeawaysIf there were a fast way of getting rich, everyone would do it. New equals risk, so understand all the risks you’re exposed to. Actionable adviceDedicate time to work on yourself while you’re working on and in the business of investing. No. 1 goal for the next 12 monthsFor the next 12 months, Bryan’s goal is to achieve 50% business growth. Parting words  “Don’t let risk scare you to stay on the sidelines. Get in the game because only when you’re in the game can you win.”Bryan Clayton  [spp-transcript]   Connect with Bryan Claytonhttps://www.linkedin.com/in/bryan-clayton-a96b33214/ (LinkedIn) https://twitter.com/bryanmclayton (Twitter) https://www.instagram.com/bryanmclayton/ (Instagram) https://www.yourgreenpal.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Jan 20, 2022
Puja Talesara Bhandari – Every Exit in Your Life Is an Entry Somewhere
16:36
BIO: Puja Talesara Bhandari is an internationally certified Life and Executive coach recognized globally for her out-of-the-box thinking and result-based approach. STORY: Puja put her heart and soul for six months, only for it to be scrapped just 14 hours before its launch. She wasted another two months following up on why the project was canceled instead of moving on to other active projects. LEARNING: You need to know when to stop trying. Always have your primary goal, but don’t lose sight of other goals.   “Time is money; invest it well.”Puja Talesara Bhandari  Guest profilehttps://www.linkedin.com/in/puja-talesara-bhandari-1236b32b/?originalSubdomain=sg (Puja Talesara Bhandari) is an internationally certified Life and Executive coach, recognized globally for her out-of-the-box thinking and result-based approach. She has been recognized for her leadership roles and was conferred as one of the influential women in the millennial space. She was nominated six times as one of LinkedIn’s Wonder Women. Puja Talesara Bhandari firmly believes inward excellence leads to outward excellence. She has her roots in Human resources. She was the youngest leader in the strategic role. She has worked with revered organizations globally. Her personal and professional piqued her interest in coaching. She is being mentored by John Mattone, ex-coach of Steve jobs. She is on a mission to create communities of inspiring courageous and authentic leaders across age span and geographies. Her forte is Personal leadership. She fulfills her purpose through her initiatives catering to gen z, millennial leaders, Entrepreneurs, educators, and entrepreneurs. She has been recognized globally for her work on revered platforms. Few to mention Millennial leaders, 51 influential women, and sculptors. Her life trajectory published in Stories of Asia was amongst the top 5 stories which resonated with different age groups. She is recognized on LinkedIn for her contribution. She has coached 500 + in 12 + geographies. Her journey from a small town from a non-English speaking family to being the first professional in the family, later a global speaker and coach, is a reflection of personal leadership. Worst investment everPuja put her heart and soul into a project assigned to her for six months. Three days before the project’s launch, she called the organization’s executive, inquiring about any pending issues. The executive said she’d get back to her, but she never did. Precisely 14 hours before the launch, Puja was still following up with the executive when she learned that the project had been scrapped. She was so disappointed considering all the work she’d put in, and she didn’t want to accept that it was over. Puja spent another two months following up with the management team on why the project had been scrapped. Lessons learnedYou need to know when to stop trying. Always have your primary goal, but don’t lose sight of other goals. Andrew’s takeawaysTrust is the glue of any business. Actionable adviceStop, scan what’s working and what’s not, create an action plan, and then scale up from that plan of action. No. 1 goal for the next 12 monthsPuja’s goal for the next 12 months is to create communities of inspiring, authentic, courageous leaders across the globe. Parting words  “While we are always focusing on changing the environment and the things around us, the real transformation starts within us.”Puja Talesara Bhandari  [spp-transcript]   Connect with Puja Talesara Bhandarihttps://www.linkedin.com/in/puja-talesara-bhandari-1236b32b/?originalSubdomain=sg (LinkedIn) https://www.facebook.com/puja.talesarabhandari (Facebook) https://twitter.com/1809_puja (Twitter) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them)...
Jan 18, 2022
Dr. Harish Pant – Think About Where You Are Focusing Your Attention
27:08
BIO: Dr. Harish Pant brings thirty-eight years of global and Indian experience spanning aerospace and defense, aviation, automotive, steel, engineering plastics, lightweighting and composites, industrial design, engineering services, and infra-trade. STORY: Harish was a rising star, excelling in his profession and the youngest department head. Out of nowhere, a senior person was transferred to his department and became the new head. Harish was made the assistant department head. He didn’t understand why this happened and wasted a whole year trying to prove himself. LEARNING: You’ve got to know when something is not worth your time, energy, and attention and, therefore, walk away.   “Attention investment is the most fundamental thing a person can do to bring their awareness alive.”Dr. Harish Pant  Guest profilehttps://www.linkedin.com/in/harishpant/ (Dr. Harish Pant) brings thirty-eight years of global and Indian experience spanning aerospace and defense, aviation, automotive, steel, engineering plastics, lightweighting and composites, industrial design, engineering services, and infra-trade. He is a contemporary thought leader with the dexterity of technologies (Blockchain, Artificial Intelligence, and IoT) and has worked with numerous global companies. Harish has also created a platform: https://www.linkedin.com/groups/13936627/ (Utkarsh - Uttarakhand Youth Development), and he’s working towards the development of youth in the state. Worst investment everAbout 25 years ago, Harish was department head for a while when he learned that a senior-level person who had joined the company a month back had been transferred to his department. He was now the department head, and Harish was pushed to position number two. This happened when he was a rising star and the youngest of the department heads. So this demotion came as a shocker to him. Harish tried to find out from management why he’d been demoted, and they told him that it was just temporary and he’d be well taken care of. But he was not convinced. He tried everything he could to convince management that he was the right candidate for the job. This went on for months. Harish placed his entire focus on trying to prove himself. He stayed at the company even when he knew he should leave. Eventually, Harish quit when he got another opportunity, but he feels the time he put his attention to proving his worth was his worst investment ever. Lessons learnedThings will be beyond your control during your career, and that’s ok. Andrew’s takeawaysYou’ve got to know when something is not worth your time, energy, and attention and, therefore, walk away. Actionable adviceAnalyze the whole situation and ask yourself if it’s workable. You must also know who you are, so reflect on the person you are. No. 1 goal for the next 12 monthsHarish’s goal for the next 12 months is to help people transform their lives through a complete process that he has created.   [spp-transcript]   Connect with Dr. Harish Panthttps://www.linkedin.com/in/harishpant/ (LinkedIn) https://www.facebook.com/harish.pant2 (Facebook) https://www.youtube.com/channel/UCx-jf3wLeJTPGbmv4mShfOA (YouTube) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Jan 16, 2022
Adrian Choo – Get Business Expertise Before Starting Your Own
19:00
BIO: Adrian Choo is the One and Only Career Strategist in Asia and is the founder of Career Agility International. In three years, he helped more than one thousand clients successfully achieve clarity to enjoy a happier and even more successful career. STORY: Adrian and his friend started a technology company that ran for three years. They had to call it quits when they couldn’t scale the business. LEARNING: Don’t go into business just because you want to be in business; acquire domain expertise first. Entrepreneurship is a long game.   “Don’t they say the early bird gets the worm? Sometimes it isn’t true. It’s the second mouse that gets the cheese.”Adrian Choo  Guest profilehttps://www.linkedin.com/in/adrianchoo/ (Adrian Choo) is the One and Only Career Strategist in Asia and is the founder of https://www.careeragility.org/ (Career Agility International). In three years, he helped more than one thousand clients successfully achieve clarity to enjoy a happier and even more successful career! Worst investment everAdrian wanted to start a business again after his first entrepreneurial stint. So he sat down with friends and brainstormed business ideas. They created a company doing electronic marketing. They got funded, ran it, and engineered many groundbreaking technologies in electronic marketing, data analytics, and lifestyle marketing. Adrian and his friends ran the business for three years. They were successful at first but had difficulty scaling it. Eventually, they decided to call it a day and go their separate ways. Lessons learnedDon’t go into business just because you want to be in business. First, acquire domain expertise, have a solid business foundation or idea, and then go into business. Understand the market before becoming an entrepreneur, not the other way around. Andrew’s takeawaysEntrepreneurship is a long game. When you go into entrepreneurship, be prepared to dedicate the next five or ten years of your life or even your lifetime. Set a goal to get to $3 to $5 million in revenue as fast as possible, possibly within three years. This is enough money to cover the overheads of running a real business. Actionable adviceYou have to make mistakes to learn from them. But on the flip side of it, it’s better to learn from other people’s mistakes. If you want to go into business and be an entrepreneur, Adrian recommends that you watch all seven seasons of https://en.wikipedia.org/wiki/Shark_Tank (Shark Tank), the American version. No. 1 goal for the next 12 monthsAdrian’s goal for the next 12 months is to help another 1,000 people get more career clarity and enjoy and refocus their lives around their careers and everything else that’s important to them. Parting words  “Stay tuned to Andrew Stotz; he knows his stuff. So, learn a lot from him. He’s the best or the worst.”Adrian Choo  [spp-transcript]   Connect with Adrian Choohttps://www.linkedin.com/in/adrianchoo/ (LinkedIn) https://www.careeragility.org/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com)...
Jan 13, 2022
Shang Saavedra – Learn About Saving Your Cents to Wealth
23:40
BIO: Shang Saavedra reached the ability to be work-optional by the time she was 31 years old by focusing on increasing her income, lowering her expenses, and investing all her savings. STORY: Shang was ill-advised to buy a life insurance policy with the promise of getting 6-7% returns. She trusted the financial advisor without doing any research on the policy. The policy is barely making any returns. LEARNING: Do due diligence on the motivations of any financial advisors that you take on. Scrutinize any figures and illustrations that you get.   "You should be able to explain your investment to your teenage self. If your teenage self cannot understand it, then don't invest in it."Shang Saavedra  Guest profilehttps://www.linkedin.com/in/shangsaavedra/ (Shang Saavedra) reached the ability to be work-optional by the time she was 31 years old by focusing on increasing her income, lowering her expenses, and investing all her savings. During the day, Shang is a corporate working mother, and at night, she creates content around investing, personal finance, and mindset, on her blog https://savemycents.com/ (savemycents.com) and Instagram https://www.instagram.com/savemycents/ (@savemycents). She has a heart for teaching Americans how to retire with dignity, focusing on mental health, behavioral psychology, and an attitude of doing things scared. She lives with her husband, child, and two cats in New York City. Worst investment everWhen Shang was in her mid-20s, she was scouting for an investment that would help her avoid income tax as much as possible or reduce her income tax liability. A financial advisor she was talking to sold her a whole life insurance policy that he claimed would give her six to seven percent returns. Shang bought the policy with yearly premiums of $5,000. It was only a year later, when Shang started reading more into the whole life insurance policy and its financial statements, she realized the growth rates that the financial advisor had illustrated to her were unrealistic. In reality, the value of her policy was likely growing close to inflation. Thankfully, the $5,000 premium wasn't a ton of money relative to how much Shang invests today, and she's not losing money, but she's not making good returns either. But it's still her worst investment ever, and she feels so shameful because as a highly educated person who can run her numbers, she ended up with this pretty awful investment. Lessons learnedDo due diligence on the motivations of any financial advisors that you take on. Scrutinize any figures and illustrations you get, especially those with unbelievable growth rates. Be able to explain your investment to your teenage self. If your teenage self cannot understand it, don't invest in it. Andrew's takeawaysYou have a right to ask how much you're paying, who's getting paid, and who's getting a cut. The financial professional must explain it to you. Actionable adviceOnly buy term life insurance as it's a very reasonable policy, price wise for you to put some money into each year to provide for the people who depend on you. No. 1 goal for the next 12 monthsShang's goal for the next 12 months is to make as many new connections at her new company and do the best that she can there. Parting words  “Do it scared, but do it anyway.”Shang Saavedra  [spp-transcript]   Connect with Shang Saavedrahttps://www.linkedin.com/in/shangsaavedra/ (LinkedIn) https://www.instagram.com/savemycents/?hl=en (Instagram) https://savemycents.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Jan 11, 2022
Patrick Huey – Learn to Apply “Brief, Fly, Debrief” to Your Life
22:54
BIO: Patrick Huey is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy®, and an Accredited Tax Preparer. STORY: Patrick bought a technology stock based on rumor and peer recommendation. He didn’t do any research and the stock ended up losing value. LEARNING: Don't just come into an investment seeking an investment, seek an outcome. Overestimate your risks and underestimate your gains.   "Overestimate your risks and underestimate your gains."Patrick Huey  Guest profilehttps://www.linkedin.com/in/patrick-huey-cfp/ (Patrick Huey) is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy®, and an Accredited Tax Preparer. He earned a bachelor’s degree in History from the University of Pittsburgh, and a Master's in Business Administration from Arizona State University. Patrick served nine years as a U.S. Naval Flight Officer earning the Strike Fighter Air Medal during combat operations and two Navy Achievement Medals. He is the author of https://www.amazon.com/History-Lessons-Modern-Investor-Patrick/dp/1944733469 (History Lessons for the Modern Investor) and https://www.amazon.com/Seven-Pillars-Financial-Wisdom-Perspective/dp/1079783555 (The Seven Pillars of (Investment) Wisdom). Patrick specializes in creating financial plans, generating a retirement income stream, and managing investment strategies. Contact him for help growing, spending, and gifting your wealth. Worst investment everWhen Patrick got a stable income, he started talking and listening to some of his friends about stocks. He figured they were a heck of a lot smarter than he was, so he listened pretty intently. Then Patrick bought a high-flying tech stock based on his friends' advice. At the time, Patrick could only afford to buy one stock at a time and added to his portfolio when he could. Patrick created a highly volatile, barely diversified technology/Internet stock portfolio. He did no research and bought the stocks on rumors and recommendations from a peer group. He thought nothing about risk mitigation or even his tolerance for loss. Patrick was pretty sure at that point that he was an investment genius and would retire early on an island somewhere. Then the market started to slide, and he figured he was just going to add to the position. Then 911 happened, and Patrick got pretty busy. After 911, when he finally checked his account, his 10s of 1000s of dollars had turned into a few 100. He eventually sold that stock and just moved on. Patrick got smarter about money and understood that you don't amplify your mistakes by continuing to buy something that has no earnings, no business model, no profits, no nothing. And to also diversify his portfolio. Lessons learnedDon't just come into an investment seeking an investment. Come into an investment seeking an outcome. Overestimate your risks and underestimate your gains. Personal finances are just that; personal. So forget what your friends are doing. Educate yourself about investing. Andrew's takeawaysJust following other people and not doing your research ends up in disaster. We do not create wealth in the stock market. We grow wealth in the stock market. Actionable adviceUnderstand how you think before you can think clearly. Keep emotions out of investing. No. 1 goal for the next 12 monthsPatrick's goal for the next 12 months is to be a little bit better at something every single day.   [spp-transcript]   Connect with Patrick Hueyhttps://www.linkedin.com/in/patrick-huey-cfp/ (LinkedIn) https://www.historylessonsforthemoderninvestor.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/...
Jan 09, 2022
Jacent Wamala – Gain Inspiration to Face a “Grief Storm”
29:17
BIO: Jacent Wamala is a licensed marriage and family therapist turned money mindset coach and wealth & wellness university founder. STORY: Jacent accumulated huge student loans while in graduate school in her pursuit to fulfill societal expectations. LEARNING: Put boundaries, stipulations, and structure in your life. Have a clear vision about where you want to be.   "Don’t focus on receiving a specific outcome, instead, be more open to learning and figuring out what comes next after that."Jacent Wamala  Guest profilehttps://www.linkedin.com/in/jacent-wamala-m-s-lmft-aa8baa194/ (Jacent Wamala) is a licensed marriage and family therapist turned money mindset coach and wealth & wellness university founder. Women of color rely on her expertise and “been-there-done-that” guidance to write the best chapters of their lives. With her by their side, they discover how to overcome debt, level up their income streams, and achieve impactful, life-changing financial freedom. Tap in with Jacent so she can teach you how to do the same. Her goal is to help her community become aware of the limiting beliefs and fears getting in the way of their financial freedom and empower them to create a plan to reach their goals. She does this by educating regularly on her podcast and IG page, both with the name, https://podcasts.apple.com/us/podcast/jacents-gems/id1490915960 (Jacent's Gems). Worst investment everJacent had this checklist that she felt she needed to check off to be considered successful when growing up. So she went to school, got her diploma, went to college, got a good degree, and then got a good job. In her pursuit to fulfill societal expectations, she decided to join graduate school. Grad school left her with about $70,000 in student loans. Jacent was so hang up on fulfilling expectations that she didn't even consider looking for a scholarship. She feels that the worst mistake she ever made was taking up this debt. Lessons learnedPut boundaries, stipulations, and structure in your life. Success is not about feeling like doing something at the moment. It's about being convicted to the point that you must do it because you recognize the consequences would be higher if you don't follow through. Instead of focusing on being attached to an outcome, experiment and observe the data you receive. Then be open to what comes after that. Andrew's takeawaysSet your intention about where you want to be, and shift that focus from the pain, suffering, struggle, and obstacles preventing you from achieving success. Have a clear vision about where you want to be. Close your financial books every month. Actionable adviceGet off the fence, pick a side, and then go from there. No. 1 goal for the next 12 monthsJacent's goal for the next 12 months is to have the healthiest mind, body, and spirit possible. Parting words  "The only way that you're going to feel fulfilled in your life is by following through on things that you have thought of and said that you wanted to do for yourself."Jacent Wamala  [spp-transcript]   Connect with Jacent Wamalahttps://www.linkedin.com/in/jacent-wamala-m-s-lmft-aa8baa194/ (LinkedIn) https://www.facebook.com/groups/wwustartshere (Facebook) https://www.instagram.com/jacentsgems/ (Instagram) https://www.youtube.com/channel/UC_i5S1hB1NAe1v2xxg3kUQA (YouTube) https://podcasts.apple.com/us/podcast/jacents-gems/id1490915960 (Podcast) https://www.wamalawellness.com/blogforblackgirlsinlasvegas (Website) https://jacents-gems.ck.page/552c88e43b (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Jan 06, 2022
Ajinkya Kulkarni – Master the Process Not the Result
21:49
BIO: Ajinkya Kulkarni is the co-founder and CEO of WintWealth. His company offers high net-worth individuals and retail investors asset-backed fixed income products that provide higher returns than fixed bank deposits. STORY: Ajinkya gave money to a friend who promised to give him a return of nine percent every month. After receiving returns for about a year, payments stopped. He never got back the money he had invested. LEARNING: Focus on the investment process, not the result.   "Don’t stop investing. Keep focusing on the process. It's a long game."Ajinkya Kulkarni  Guest profilehttps://www.linkedin.com/in/ajinkyamkulkarni/ (Ajinkya Kulkarni) is the co-founder and CEO of https://www.wintwealth.com/ (WintWealth). His company offers high net-worth individuals and retail investors asset-backed fixed income products that provide higher returns than fixed bank deposits. Worst investment everAjinkya gave money to a friend who promised to give him a return of nine percent every month for about a year. Ajinkya would reinvest the monthly interest. After about a year, the friend stopped paying him the returns and never paid back the money Ajinkya had invested. Lessons learnedFocus on the investment process instead of the result. Educate yourself on the risks and then make an informed choice. Andrew's takeawaysYou're going to have bad outcomes not due to bad skill, but just due to luck. It’s, therefore, important to just keep focusing on improving your investment process. Actionable adviceKeep focusing on the process because investing is a long game. If your strategy is correct, you can be unlucky once or twice, but you cannot be unlucky forever. So keep improving your process, your craft, and your skill. No. 1 goal for the next 12 monthsAjinkya’s goal for the next 12 months is to educate 1 million customers and continue to deliver a kickass customer experience. Parting words  “Self-awareness is very crucial in investment.”Ajinkya Kulkarni  [spp-transcript]   Connect with Ajinkya Kulkarnihttps://www.linkedin.com/in/ajinkyamkulkarni/ (LinkedIn) https://www.wintwealth.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast) Further reading mentionedAnnie Duke, (February 2018) https://www.amazon.com/Thinking-Bets-Making-Smarter-Decisions/dp/0735216355 (Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts).
Jan 04, 2022
Neil Twa – Learn to Protect Yourself From Fraud
27:14
BIO: Neil Twa is the founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private label e-commerce businesses for the last nine years. STORY: Neil partnered with a local community on a project he believed would be a gamechanger. He found out that he was being defrauded and had to quit the project losing his entire investment. LEARNING: Get a mentor. Know the people you partner with well before you get down to any business.   "Stop and sleep on it, and if you still feel confident about it in the morning, then you go for it."Neil Twa  Guest profilehttps://www.linkedin.com/in/neiltwa/ (Neil Twa) is the founder and CEO of https://www.voltagedm.com/businessbuilders?r_done=1 (Voltage Digital Marketing). He has been launching, operating, and growing private label e-commerce businesses for the last nine years. As of today, he and his clients have sold over $100 million in physical products primarily through the Fulfilment by Amazon (FBA) sales channel. Neil shares his blueprint for how to build an online business that can generate a passive six-figure almost automated income in just 12 months while setting up the business for potentially millions in sales within 18 months. Worst investment everNeil got involved with some local community guys in Oklahoma. The group sold him on a concept for a new product that was going to help the oil and gas industry. The product would help save price points on the power grid while allowing residential homes and businesses the ability to become demand elastic to the grid. Neil bought into that vision and believed that it would be amazing technology. The investment was a solid one on paper. But over time, Neil started questioning the future of the project. They had raised millions from investors to get this business off the ground, but somehow, they couldn’t make it to a prototype. There was always one excuse or another. The project wasn’t moving forward as it should even though there was money put into it. So where exactly was the money going? One day Neil walked into the office and noticed a piece of paper that was a different accounting than the one that he had recently received. The paper showed money was going to other people instead of going to product development. At that point, Neil realized that he was being defrauded. Neil had to distance himself from the project and it left him completely broke. He felt like a failure and ashamed for getting people who trusted him involved. Lessons learnedHave a mentor or someone who is willing to listen to your business ideas. Before you partner with people, understand a little bit more about who they are and their key competencies. Andrew's takeawaysIt’s normal to lose confidence when facing failure. Make sure your monthly financial statements are accurate and on time. Review them every month without fail. Actionable adviceDon’t make a quick decision. Stop and sleep on it. If you still feel confident about it in the morning, then you go for it. No. 1 goal for the next 12 monthsNeil’s goal for the next 12 months is to continue to build and exit brands. Parting words  “Feel the fear and do it anyway, but be smart about it.”Neil Twa  [spp-transcript]   Connect with Neil Twahttps://www.linkedin.com/in/neiltwa/ (LinkedIn) https://www.facebook.com/voltageholdings (Facebook) https://www.youtube.com/c/ASIN360PRO (YouTube) https://www.instagram.com/neiltwa/ (Instagram) https://www.voltagedm.com/businessbuilders?r_done=1 (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Jan 02, 2022
Jofin Joseph – Just Start
20:48
BIO: Jofin Joseph is a third-time entrepreneur who chose education and early childhood development as an area to work within his new startup, Totto Learning. STORY: Jofin and his friends closed their startup after college to seek employment. After two years, they realized that they learned more from their startup than from their jobs, so they quit and returned to their startup. LEARNING: Today's the best time to start. Stop thinking and start doing.   "Stop planning, start doing."Jofin Joseph  Guest profilehttps://www.linkedin.com/in/jofin/ (Jofin Joseph) is a third-time entrepreneur who chose education and early childhood development as an area to work within his new startup, https://tottolearning.com/app/ (Totto Learning). He has had a successful exit in his previous startup and is a huge believer in failures being the best way to learn fast. Get a 10% discount (Use coupon code: FRIENDOFTOTTO) on https://tottolearning.com (Totto Nurture - Assisted home learning for early years). Worst investment everJofin and a few of his classmates had a small startup in college offering software services and building websites. At the end of college, they decided to part ways, get employed, gain some experience, earn some money, and then come back and start up again. Jofin got hired by one of the largest IT services companies in India. The company was a great place to work. He got a lot of exposure to the IT world and worked with great people, and the company culture was the best. About a year down, it started hitting Jofin that the team was probably doing more in terms of having fun building stuff in college than in employment. Though they were now making money, they didn't enjoy what they were doing. It took them two years to quit their jobs and return to their startup. For Jofin, those two years he spent in employment instead of working on his startup are his worst investment ever. Lessons learnedNo time is too late. Today's the best time to start. Stop thinking and start doing. Have a great set of people around you who can encourage you to work on your ideas. Andrew's takeawaysTake advantage of the opportunities around you. Don't be afraid to start that startup you're thinking of. Actionable adviceStart, nothing is as difficult as you think it is once you start. No. 1 goal for the next 12 monthsJofin’s goal for the next 12 months is to touch 50,000 parents and change their lives for good. Parting words  “Reduce risk and grow.”Jofin Joseph  [spp-transcript]   Connect with Jofin Josephhttps://www.linkedin.com/in/jofin/ (LinkedIn) https://www.facebook.com/jofin.jo/ (Facebook) https://twitter.com/jofinjo (Twitter) https://www.instagram.com/jofinjo/ (Instagram) https://tottolearning.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube)...
Dec 30, 2021
Smriti Tomar – Stay Focused on Your Customers
25:29
BIO: As founder and CEO at Stack, Smriti Tomar strives to make investing accessible and affordable for India's 440 million millennials to help them save for their life goals. STORY: Smriti took feedback from investors and used it to change her product. Customers hated the new version. After listening to her customers, she had to put in more time and money to build the product the customers—not investors—wanted. LEARNING: Invest in your customers, not investors. Be very prudent about where you invest your time in. You need a narrow focus to be successful, particularly with a startup.   "Time is the only capital that no investor or VC can give you, so invest it wisely."Smriti Tomar  Guest profileAs founder and CEO at https://t.co/CN5HXoVLOq (Stack), https://www.linkedin.com/in/smrititomar/ (Smriti Tomar) strives to make investing accessible and affordable for India's 440 million millennials to help them save for their life goals. Stack is the Vanguard for India. Through its automated savings, investments, and financial planning, Stack helps millennials stop wasting money and start making better financial decisions. She is devoted to and excels in three areas—each area strengthening the others: marketing and product management; creating a venture that creates awareness, accessibility, and personalization around financial services; and women’s business success. Worst investment everWhen Smriti started her company, she soon realized that she would need capital to build many things, hire more people, expand, and ultimately create something that people could use. So she started approaching all kinds of investors, angels, and venture capitalists. Every new investor that Smriti would meet would say they love the product and give her some feedback. Smriti started making changes based on feedback from potential investors. Eventually, the product started deviating from what it was supposed to be. It took Smriti about two to three months to complete the first round of funding and get the capital. She then started working on the product. Once it was complete, she tested with her friends, family, and network. They tried out the product, and they liked the idea, but many people could not use many of its features because they seemed complicated. Smriti spent a lot of time talking to her customers to discover their pain points. She got such simple complaints that she could quickly solve them through the most specific features. Smriti had to start from scratch, causing her to spend a lot of time and put in a lot of money again to build the product customers wanted. Lessons learnedBe very prudent about where you invest your time in. Invest not into the investors but in your customers because these are the people whose lives you're supposed to add value to. Don’t give in to the urge to please others. Don’t give in to the fear of missing out. You're supposed to make mistakes, learn from them, and then move on. Trusting your instincts is much more important than following what others are saying. Andrew's takeawaysIt's so easy to create complexity and so hard to create simplicity. You need a narrow focus to be successful, particularly with a startup. Nail your unique selling point down to that one thing that people would repeat to others. Actionable adviceListen to your customers and interact as much as you can with them. They have all the answers you probably are looking for. Also, be prudent in terms of what feedback and advice you act upon because not every piece of advice is supposed to be taken up and acted upon. No. 1 goal for the next 12 monthsSmriti’s goal for the next 12 months is to get more people to invest. Parting words  “Let’s aim to make better mistakes in the future and learn as quickly as we can.”Smriti Tomar  [spp-transcript]   Connect with Smriti Tomarhttps://www.linkedin.com/in/smrititomar/ (LinkedIn) https://www.facebook.com/smriti.tomar/ (Facebook)...
Dec 28, 2021
Michelle Seiler Tucker – Do Your Due Diligence So You Can “Exit Rich”
24:54
BIO: Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. She owns many businesses in several different industries. As a 20-year veteran in the M&A industry, she is regarded as the leading authority on buying, selling, fixing, and growing businesses. STORY: Michelle met a business leader at a conference, and he convinced her and others to invest in a tech company in South Africa. The excitement of investing outside of the US got the best of her. She invested over a quarter of a million dollars and even convinced her husband to invest a similar amount. The business leader got into a massive fight with the company’s CEO, and needless to say, the investors never made anything out of it nor got their money back. LEARNING: Always make decisions based on logic, not emotion. Separate the research that you do on risk and return. Have trusted advisors.   “Get a mentor that has been down the road you want to travel, early on. This will shorten your learning curve and path to success dramatically.”Michelle Seiler Tucker  Guest profilehttps://www.linkedin.com/in/michelleseiler/ (Michelle Seiler Tucker) is the Founder and CEO of https://seilertucker.com/ (Seiler Tucker Incorporated). She owns many businesses in several different industries. As a 20-year veteran in the M&A industry, she is regarded as the leading authority on buying, selling, fixing, and growing businesses. She and her firm have sold over a thousand businesses in almost every vertical and have a remarkable track record of success. She is the Best-Selling Author of the book “https://amzn.to/3dXTuGo (Sell Your Business for more than It’s Worth)” and has a new book called “https://exitrichbook.com/ (Exit Rich®,)” a Wall Street Journal and USA Today bestseller! In addition to being featured in INC, Forbes, Entrepreneur Magazine, and USA Magazine, Michelle is an international keynote speaker and makes regular radio and TV appearances on Fox Business News and CNBC. She has spoken alongside many prominent speakers: Eric Trump, Arnold Schwarzenegger, Kathy Ireland, Donna Karen, Stedman Graham, Randi Zuckerberg, Steve Wozniak, and more. She holds the Mergers & Acquisitions Master Intermediary (M&AMI) title, as well as Certified Mergers and Acquisitions Professional (CM&AP) and Certified Senior Business Analyst (CSBA). Worst investment everMichelle met a business leader during a conference who talked her and several other attendees into investing in a technology company in South Africa. Michelle was excited she’d wanted to do something unique outside of the United States. Michelle invested over a quarter of a million and convinced her husband to invest a similar amount. The investment was just a disaster. The business leader ended up getting into a big fight with the company’s CEO, and he went his separate way. Michelle and other investors fought for years to make something work or get their money back. It’s been about seven years now, and they still don’t have their money back. Lessons learnedWhen somebody is trying to raise capital from you, make sure that they’re doing it the right way. Make sure they’re following all the rules with the https://www.sec.gov/ (SEC). If you’re going to invest in a company outside of the United States, do your due diligence and have some alliances in that country. Have trusted advisors. Make sure that you don’t get caught up in the excitement of an investment. Weigh the pros and the cons. Write down all the things that could go right and all that could go wrong. Never make decisions on emotion; always make decisions based on logic. Andrew’s takeawaysWhenever you’re investing your money, especially in startups or small businesses, know that there’s so much risk in it. Try not to bring additional risk on, like going to a foreign country if you can. Step back from your emotions and do your due diligence. Separate the research that you do on risk and return. Write down all the...
Dec 26, 2021
Harry Spaight – Learn About Selling With Dignity
36:55
BIO: Harry Spaight is a Keynote Speaker, Coach, and Author of Selling with Dignity-Your Formula for Life-Changing Sales Results. STORY: Harry invested in mobile homes in Georgia without researching. He trusted a young man he knew through the father. In just three months, the houses were run down, and the tenants refused to pay rent. Harry lost over $100,000 that he’d made from selling his home. LEARNING: Get a financial advisor that you trust and consult before making an investment decision. Collaborate with the right people. Do your research.   “Stick with what you’re doing and get better at it.”Harry Spaight  Guest profilehttps://www.linkedin.com/in/harryspaight/ (Harry Spaight) is a Keynote Speaker, Coach, and Author of https://amzn.to/3DYaR4n (Selling with Dignity-Your Formula for Life-Changing Sales Results). After spending several years in mission work, Harry has been succeeding in Sales as an Award-Winning Multi-million Dollar Sales Producer and Sales Leader for over two decades. Selling successfully can be achieved with timeless principles. Putting others over self, being a good listener, and doing the right thing all go a long way towards growing a successful business. Worst investment everIn the early 2000s, Harry met this young guy who was a real go-getter. He played golf with his dad, and the three built a great relationship. The young guy moved to South Carolina and got into real estate. The young man called Harry and told him about this opportunity he had investing in mobile homes. He said to him that all he had to do was make a low investment, allow him to use his credit, and the young man would take care of everything. Harry would then receive rent at the end of the month. Harry had just sold a house and made some money from it. He used this money to invest in six properties in a small town in Georgia. Soon enough, he started making passive income from the properties. He was making about $1,000 a month. Everything was working out great. About three months in, everything started going wrong. People stopped paying rent, and the property management left. Now Harry had to fly from Virginia to Georgia to collect his rent. He was shocked by what he saw. The properties were a slum. When he spoke to the tenants, they all refused to pay rent because the houses had so many issues. Now the $1,000 rent he was receiving turned into Harry paying somewhere around $4,000 a month in mortgages. The money he had made from the house sale started to dwindle. Harry went back to the young man and asked for his money back. The young man suggested that he give him three better houses, which would make him more money. Foolishly, Harry accepted the offer. His bills went up to $6,000 a month. The $100,000 he had made from the house sale was gone within a few months. Lessons learnedGet a financial advisor you trust, and bounce your ideas off of them before putting your money down. Andrew’s takeawaysYou cannot build a sustainable business without relying on others. So spend time thinking about who you’re committing to do something with because chances are, you’re going to be with them a lot longer than you think. Take time to think through every investment and do thorough research before signing off on it. Actionable adviceHave a team of smart people around you. No. 1 goal for the next 12 monthsFor the next 12 months, Harry’s goal is to get his book https://amzn.to/3DYaR4n (Selling with Dignity-Your Formula for Life-Changing Sales Results) into the hands of 1000s of people. He believes that he can help people have life-changing results in the way they position and sell themselves. Parting words  “Be patient even when you’re going through tough times. You’ll get through it.”Harry Spaight  [spp-transcript]   Connect with Harry Spaighthttps://www.linkedin.com/in/harryspaight/ (LinkedIn) https://www.facebook.com/harry.spaight (Facebook) https://amzn.to/3DYaR4n (Book) Andrew’s...
Dec 23, 2021
Satima Meanlamai – Never Stop Investing and Learning
20:57
BIO: Satima Meanlamai, nicknamed Tao, is the founder of the Vietnam Value Investor group, Thailand. STORY: When Satima started investing in the stock market, she’d only invest in companies she liked and hardly took time to study other stocks or learn more about the companies she invested in. Though lucky initially, this investment strategy didn’t work out for Satima in the long run, and she lost almost all her savings. LEARNING: Invest in yourself and never stop learning. Move beyond home country bias and invest in global stocks.   “Hang around people who motivate you to learn.”Satima Meanlamai  Guest profileSatima Meanlamai, nicknamed Tao, is the founder of the https://www.facebook.com/vvinvestor (Vietnam Value Investor group), Thailand. She works full-time as an architect but believes long-term stock investing in Vietnam would grow her savings with less effort. Her motto is, “When in doubt, just keep investing and learning.” Worst investment everWhen Satima started investing, she didn’t know much about the financial industry, P/E ratio, dividends, etc. She would invest in the companies she likes. She barely looked at the details of the companies. Satima got lucky, and the stocks grew, and she made a bit of return. Satima then decided to get more aggressive and put all her savings into the stock market. Again, she barely looked at the details of the companies she invested in. Five years later, economies slowed down, and her stocks started drying up. Lessons learnedInvest in yourself and never stop learning. Andrew’s takeawaysMove beyond home country bias and invest in global stocks. Don’t get stuck on beginner’s luck and think that investing is easy. Keep investing and learning. Actionable adviceMingle with people who love learning, who are inspiring and motivational, and it will rub off on you. Remember, you are the average of five people you spend time with. No. 1 goal for the next 12 monthsSatima’s goal for the next 12 months is to travel to Vietnam and learn Vietnamese. Parting words  “Keep investing and learning.”Satima Meanlamai  [spp-transcript]   Connect with Satima Meanlamaihttps://www.facebook.com/vvinvestor (Facebook) https://www.youtube.com/c/Vietnamvi (YouTube) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Dec 21, 2021
Jack McColl – Access Debt to Grow Your Business
20:12
BIO: Jack McColl, the founder of Credit Stacking, has the knowledge and in-depth understanding of the credit stacking strategy. He has mentored thousands of entrepreneurs and been a part of growing multiple 7-figure businesses. STORY: Jack lived in Bali for three months when he was 26. He saw an opportunity to create an Airbnb business there, got a few houses, and hired locals to help manage day-to-day business activities. He paid rent and wages in cash, but problems from the landlords and his staff were all he got. Jack barely made any returns from the venture. LEARNING: Do a lot of market research before you venture into any business. Finance your deals with 0% interest business credit.   “The more you can borrow, the more you can make, and the higher chance of success you’re going to see in any business venture.”Jack McColl  Guest profilehttps://www.linkedin.com/in/jackmccoll/ (Jack McColl), the founder of https://www.creditstacking.com/ (Credit Stacking), has been featured on MarketWatch, Disrupt Magazine, Yahoo Finance, and many other publications and podcasts for his knowledge and in-depth understanding of the https://go.creditstacking.com/start-case-study-a (credit stacking strategy). Jack has mentored thousands of entrepreneurs and been a part of growing multiple 7-figure businesses. He has accessed multiple six figures in credit lines. He’s funded multiple business startups with this money, and he’s shown thousands of other entrepreneurs how to do the same thing. You can trust that the Credit Stacking education and mentorship are in a class of their own, taught by industry experts. Check out Jack’s https://go.creditstacking.com/start-case-study-a (case study) that shows the exact steps he used to get approved for a half-million dollars. Worst investment everWhen Jack was 26, he moved to Bali, Indonesia, and lived there for three months. During that period, he saw an opportunity to create an Airbnb arbitrage business with his brother. They hired locals to help them with the day-to-day management of the venture. The brothers financed the business venture with their cash and paid all payments, including paying the workers, using that cash. Unfortunately, these people didn’t deliver on what they were supposed to. The business was suffering from poor reviews and ratings on AirBnB, and the brothers were having issues with landlords who refused to rectify the problems with the houses, yet they had already paid rent in full. It turns out, running a business abroad from home is not a walk in the park. Jack regretted not doing more research before embarking on this venture. Lessons learnedDo a lot of market research before you venture into any business. Vet and hire high-quality talent to help manage the business. Finance your deals with 0% interest business credit. It’s safer because you can charge it back if the service providers don’t deliver. It also gives you more time because you’re not paying interest. Andrew’s takeawaysSetting up a business in a foreign land is hard, so don’t be overconfident and overlook the challenges. Anytime you can protect your purchase. Do it. Actionable adviceHave as much access to capital as you can because the more access you have, the stronger you will be in any business negotiation or business venture. You don’t even have to have money. You just need to have access to cash. No. 1 goal for the next 12 monthsJack went from zero to getting approved for half a million dollars in credit. And so, over the next 12 months, his goal is to get approved for another half a million dollars because he wants a total of a million dollars of approved credit. Parting words  “Build your credit.”Jack McColl  [spp-transcript]   Connect with Jack McCollhttps://www.linkedin.com/in/jackmccoll/ (LinkedIn) https://www.facebook.com/jack.mccoll.5 (Facebook) https://www.instagram.com/kingofdebt/?hl=en (Instagram) https://www.youtube.com/user/jackmccoll (YouTube)...
Dec 19, 2021
Donald Cohen – From Failure Comes Your Biggest Successes
38:40
BIO: Donald Cohen is the founder of doncohenconsulting.com. He is collaboratively empowering LinkedIn proficiency and performance. STORY: Donald opened a successful store in Detroit and sold it after four years. He and his girlfriend got married and moved to Denver, where he decided to open a similar store. He didn’t realize that the two markets were different, and he couldn’t replicate his Detroit success in Denver. LEARNING: Failure isn’t final. You don’t lose until you quit. Have a plan and write it down.   “Little things done right compounded over time are huge.”Donald Cohen  Guest profilehttps://www.linkedin.com/in/doncohen/ (Donald Cohen) is the founder of https://www.doncohenconsulting.com/ (doncohenconsulting.com). He is collaboratively empowering LinkedIn proficiency and performance. He is the founder/CEO of Tool King. He was a two-time internet retailer of the year, a two-time top 50 website of the year by an internet retailer, a three-time INC 500 CEO. He was also the top Amazon and Walmart Marketplace partner, generating $200,000,000 in sales, beginning with $4 on e-Bay. Worst investment everDonald opened up a little tool store in Detroit. He made $50 a week for the first year. By the second year, he had bought the building, the restaurant next door, and lived in an incredible high rise with a new car. After four years of being pretty successful, He sold the business and the building. Donald and his girlfriend of seven years decided to get married and move to Denver. In Denver, Donald decided to open a store similar to his in Detroit. On the day he opened the store, nobody showed up. This was the trend for two weeks. In the third week, a competitor opened a bigger store making things more complicated for Donald. Eventually, Donald decided to close down for a few weeks to regroup and develop a better strategy. After a while, he decided to go wholesale instead of retail, and he was able to make the business a success in a few weeks. Lessons learnedFailure isn’t final. You don’t lose until you quit. You need perseverance to deal with and move on from poor business decisions. Anybody can run a successful business. Be disciplined, pace yourself, and have fun while at it. Have an informal board of directors for your business. Actionable adviceHave a plan and write it down. Anything you put in writing becomes powerful. Also, always take action, don’t just sit around. No. 1 goal for the next 12 monthsDonald’s goal for the next 12 months is to continue accelerating the path he’s on. Parting words  “Reach for the stars and reach out to me if I can help in any way.”Donald Cohen  [spp-transcript]   Connect with Donald Cohenhttps://www.linkedin.com/in/doncohen/ (LinkedIn) https://twitter.com/DonaldDCohen (Twitter) https://www.facebook.com/donald.cohen.3726 (Facebook) https://www.doncohenconsulting.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/...
Dec 16, 2021
Collin Mitchell – Sales Is the #1 Skill You Need to Have
31:19
BIO: Collin Mitchell is a 4x Founder, Father of 4, and host of Sales Transformation. STORY: Collin’s first business was a huge success, bringing in annual revenues of $5 million in just 26 months. He decided to diversify the business and got into print services, something he had zero experience in. He hired a consultant to help him do the job and paid him tens of thousands of dollars. Unfortunately, he never saw any ROI; instead, he accrued so much debt he had to pull the plug on the new service. LEARNING: Know the industry first before delving into it. Understand your core competency before diversifying.   “Just because you think your idea is the best idea ever doesn’t mean it is. Validate it first.”Collin Mitchell  Guest profilehttps://www.linkedin.com/in/collincmitchell/ (Collin Mitchell) is a 4x Founder, Father of 4, and host of https://www.salestransformation.fm/ (Sales Transformation). Worst investment everThe first business that Collin and his wife built got to $5 million annual revenue in 26 months. This was fueled by sales and $0 spent on marketing. Now you’d imagine that they’d continue doing what they were doing since it was working. Nope! Collin was trying to develop all these ideas of diversifying the business and getting some recurring revenue. Since the business was selling IT products, it made a lot of sense to get into IT services. Collin found these different companies to partner with and be their sales engine. The business kind of fell on his face. He spent some money trying to figure it out and didn’t have a lot to show for it. Then Collin tried another service selling backup recovery and cloud backup. He had a little bit of success there. Collin later decided to venture into managing print services. You ship the consumables such as toner cartridges to the customers and have technicians that service the machines. Collin did a bit of research and found there was interest in this kind of service, but he didn’t have the experience to do it on his own. So he started looking around and found a consultant. He seemed like he knew this space and had some clients that were similar to Collin. Collin paid the consultant tens of thousands of dollars to get him to build this offering for these clients. He didn’t receive much value from the consultant. He went on a spending spree on marketing, purchasing fancy tools that the consultant recommended, redoing his website, and more to become an expert in something that he didn’t know a lot about. Eventually, Collin closed that program down after building up some debt and didn’t have much to show for it. The money didn’t hurt as much as the failure to deliver and all the time and energy that could have been spent doing something else. Lessons learnedThere are no shortcuts in business. Please don’t rush into a new industry quickly without educating yourself about it. Before you launch a product or service, first understand the needs of the clients, your capabilities, and the staff, knowledge, and experience that’s needed. Andrew’s takeawaysMany things appear more straightforward in business than they are, causing you to jump in without enough research. Know your core competency. Actionable adviceDo your research and market validation before you take action on your idea. Just because you think your idea is the best doesn’t mean it is. No. 1 goal for the next 12 monthsCollin’s goal for the next 12 months is to change the way people sell through relationship building. He’s on a mission to launch 100+ podcasts.   [spp-transcript]   Connect with Collin Mitchellhttps://www.linkedin.com/in/collincmitchell/ (LinkedIn) https://www.salestransformation.fm/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business...
Dec 14, 2021
Catherine Morgan – Always Be Curious About Yourself
35:38
BIO: Catherine Morgan is a multi-award-winning qualified financial planner and award-winning financial coach on a mission to reduce financial anxiety and increase financial empowerment and resilience for 1 million women worldwide. STORY: Catherine and her husband bought a residential property at the markets’ peak. They sold that property for the same amount they purchased it seven years later. LEARNING: Separate your sense of self from your money. Just take the next step, no matter how small.   “The more work we do on ourselves, the better financial decisions we will make.”Catherine Morgan  Guest profilehttps://www.linkedin.com/in/catherine-morgan/ (Catherine Morgan) is a multi-award-winning qualified financial planner and award-winning financial coach on a mission to reduce financial anxiety and increase financial empowerment & resilience for 1 million women around the world. She was featured as one of the top 32 female entrepreneurs to look out for in Business Insider. Top 1% global podcast host of the show https://podcasts.apple.com/gb/podcast/in-her-financial-shoes-podcast/id1449065629 (In Her Financial Shoes). Worst investment everCatherine and her husband bought a residential property at the markets’ peak. Now bearing in mind, she was a financial advisor, and her husband was a mortgage advisor. Seven years later, they sold that property for the same amount they bought it. Catherine and her husband held on to so much self-judgment as financial professionals. They should have seen this coming. They should have known the markets were going to crash. Catherine held on to so much of that guilt for so long, which was the worst investment decision of her life. It was even worse than buying the property. Lessons learnedSeparate your sense of self from money because the two are not intrinsically linked. Action steps don’t necessarily have to be big, gigantic, massive action steps. It’s the compound effect of making small decisions that build that momentum. Andrew’s takeawaysJust take the next step, no matter how small. Actionable adviceGo inwards and reflect on your relationship with money. Think about where that came from, who does it belong to? How does it serve you? How does it sabotage you? Then, once you’ve taken that awareness and curiosity step, start practicing how to forgive yourself and others. No. 1 goal for the next 12 monthsFor the next 12 months, Catherine intends to go from serving a million to a billion women. She plans to do this by forging stronger relationships, collaborations, connecting with wonderful people like Andrew, and supporting one another. Parting words  “Be curious about yourself and the possibilities that exist to turn those lessons into opportunities for the future.”Catherine Morgan  [spp-transcript]   Connect with Catherine Morganhttps://www.linkedin.com/in/catherine-morgan/ (LinkedIn) https://en-gb.facebook.com/themoneypanel/ (Facebook) https://twitter.com/themoneypanel (Twitter) https://podcasts.apple.com/gb/podcast/in-her-financial-shoes-podcast/id1449065629 (Podcast) https://themoneypanel.co.uk/blog/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business...
Dec 12, 2021
John Osberg – Explore Who You Are and Build on That
34:22
BIO: John is on a mission to unlock growth in people, businesses, and communities to help them go from where they currently are to where they want to be. STORY: John believed in what people said about him. This caused him to lose his greatest strengths—energy, youthful exuberance, and creativity. LEARNING: Explore who you truly are and then build on that. Age should not stop you from dreaming big.   “Whether we want to believe it or not, we are needed. No matter what you are, you’re someone’s idol, whether you know it or not.”John Osberg  Guest profilehttps://www.linkedin.com/in/johnnyosberg/ (John Osberg)’s life mantra is “Serve to Soar.” John is on a mission to unlock growth in people, businesses, and communities to help them go from where they currently are to where they want to be. You will find his posts on LinkedIn about mental models, transformative growth insights, impactful content sources aimed at personal/professional development, and he showcases acts of egalitarian community building. Listen to him on his https://www.youtube.com/playlist?list=PLgKNSRICJcqgUd-nFY-z2VXu68NbiauLm (POWER of OZmosis podcast). Worst investment everJohn’s worst investment ever was investing in what others thought of him. He let these opinions take over his inner voice and form his identity. He believed people when they told him that he was too young to know enough. John let such things dim his energy, youthful exuberance, and creativity. Yet, these are some of his greatest strengths. It took him about nine years and a lot of soul searching to finally realize that other people’s voices should not have a place in his mind. Lessons learnedIf you’re good enough, you’re old enough. Age should not stop you from dreaming big. The time is here and now. If you take your shot and miss, well, at least you took the shot, and you’ll learn from making that mistake. Andrew’s takeawaysLearn how to form your own ideas and formulate opinions without opposing everybody. Explore who you truly are and then build on that. Actionable adviceIf you’re struggling to find your true identity, call your inner circle and ask them what they think of you as a person and a professional. Write those descriptive words down and then look at them later. Ask yourself which of these descriptive words align with you, and then start to ingrain that in your brain. With time, they become your norm. No. 1 goal for the next 12 monthsJohn’s number one goal for the next 12 months is to have a robust library of digital courses that are all about unlocking one’s growth on various levels. Parting words  “Keep serving to keep soaring.”John Osberg  [spp-transcript]   Connect with John Osberghttps://www.linkedin.com/in/johnnyosberg/ (LinkedIn) https://twitter.com/johnnyOZberg (Twitter) https://www.youtube.com/playlist?list=PLgKNSRICJcqgUd-nFY-z2VXu68NbiauLm (Podcast) http://www.serve2soar.blog/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook)...
Dec 09, 2021
Manuj Aggarwal – There Is No Sure Shot When Investing
23:13
BIO: Manuj Aggarwal is an engineer, inventor, author, and entrepreneur. STORY: Manuj was convinced by a dentist to get into forex trading, an area he had no idea how it worked. He traded $75,000 and lost it in under an hour. LEARNING: Learn how to control your risk. There are no short shots.   “Before you go into the market, learn about volatility, probability, and money management.”Manuj Aggarwal  Guest profilehttps://www.linkedin.com/in/manujaggarwal/ (Manuj Aggarwal) is an engineer, inventor, author, and entrepreneur. He is currently working on a groundbreaking AI-based technology that builds meaningful relationships and establishes thought leaders at scale on auto-pilot. He uses behavioral science and AI to help companies solve complex problems, gain traction, and increase revenue. He is also the CIO/Founder of https://manujaggarwal.com/ (Tetranoodle Technologies), which is a boutique big data consulting company that provides strategic insights and develops problem-solving digital solutions for businesses of all sizes. His popular entrepreneurial podcast https://podcasts.apple.com/us/podcast/bootstrapping-your-dreams-show/id1453077497 (Bootstrapping Your Dreams) got ranked as Top 100 next to Tony Robbins, Gary Vee, and Tim Ferriss. Worst investment everWhen the 2008 financial crisis hit, Manuj lost 50% of his investment portfolio. He had relied on a financial advisor to build the portfolio, which hadn’t brought any significant returns in the 10 years he’d held it. After the loss, Manuj decided to learn how to manage his money and invest independently. As Manuj learned about investing in the stock market, he met a dentist who told him that he also wanted to learn about it, but it was too dull. The dentist said he knew someone experienced in forex trading and would trade for them. Even though Manuj didn’t know much about forex trading, he was curious about the high returns. He put in a few dollars, and the first trade went well. He decided to trade again, and he put in $75,000. The transaction didn’t go well, and he lost all the money in under an hour. Lessons learnedLearn how to control your risk. There are no short shots. Andrew’s takeawaysNo financial advisor works for free. Know how yours is compensated for helping you. Always follow an investment framework. Actionable adviceIf you want to manage money and trade the markets, you must have a system. Your system needs to be personalized based on your preference. No. 1 goal for the next 12 monthsManuj’s number one goal for the next 12 months is to share the AI he’s developing with as many Fortune 500 companies as well as individual entrepreneurs or startup founders. Parting words  “Learn about the market before you get into it. It can be rewarding, but it will be very merciless if you don’t do your research.”Manuj Aggarwal  [spp-transcript]   Connect with Manuj Aggarwalhttps://www.linkedin.com/in/manujaggarwal/ (LinkedIn) https://www.facebook.com/manuj.aggarwal (Facebook) https://www.youtube.com/channel/UCAiIK20nDamhq70NMnLG8wA/videos (YouTube) https://podcasts.apple.com/us/podcast/bootstrapping-your-dreams-show/id1453077497 (Podcast) https://manujaggarwal.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Dec 07, 2021
Anthony Iannarino – Startups Need Strong Execution Skills
31:25
BIO: Anthony Iannarino is a writer, a speaker, an entrepreneur, and an author of three books. STORY: Anthony invested $1,200,000 in two brothers working on a revolutionary nanoparticles project. When they needed more money, he found the brothers a good investor, but they decided to go with another who required them to move from their hometown. Halfway through the project, the brothers decided they didn’t want to work on it anymore and moved back home, killing the project. LEARNING: When getting into a high-stakes investment, have a solid contract that makes you part of the decision-makers.   “Whenever you go into an investment, you’re not betting on the horse; you’re betting on the jockey.”Anthony Iannarino  Guest profilehttps://www.linkedin.com/in/iannarino/ (Anthony Iannarino) is a writer, a speaker, an entrepreneur, and an author of three books on sales; https://amzn.to/3rwUtW7 (The Only Sales Guide You’ll Ever Need), https://amzn.to/3xNkmlJ (The Lost Art of Closing), and https://amzn.to/3dcUXZh (Eat Their Lunch). He writes and publishes every day at http://www.thesaleblog.com (www.thesaleblog.com). Worst investment everAnthony happened to know about two brothers who were working on a revolutionary project around nanoparticles. What they were doing with nanoparticles was something that no one else had been able to do. No one seemed to believe in their project, but Anthony did. His company invested $1,200,000 in the project, and they started building the equipment they needed. They realized that they needed more extensive equipment along the journey, which meant more money. Anthony’s company didn’t have the cash injection required, but they agreed to help the brothers find investors. Anthony found them a $10 billion company that would give them everything they needed for the projects. They would even provide them with a bridge loan to ensure that everything would be okay during the entire process. Unbeknownst to Anthony, the brothers talked to another person in northern Ohio who wanted to own the whole project. He promised them $500,000 and a salary of $150,000 salary each. But, the brothers had to move to northern Ohio to be near all of the equipment. Anthony advised them against this deal, but the brothers took it. After a few months, the brothers decided that the salary was not enough for them and they didn’t want to live there anymore. It became impossible to see the project to the end without the brothers’ input. And just like that, Anthony lost his $1,200,000 investment. Someone leaked the IP to someone who created a different way to do the nanoparticles project. Lessons learnedWhen getting into a high-stakes investment, have a solid contract that makes you or your representative part of the decision-makers. Whenever you go into an investment, you’re not betting on the horse; you’re betting on the jockey. And so, if the jockey is unreliable, you’re betting on the wrong jockey. Be careful about the sunk cost fallacy. Andrew’s takeawaysWhen investing in businesses, particularly startups, keep in mind that a tremendous amount of resource management is involved, so every decision matters. When deciding on an investment, consider, at the very least, if you trust the owner, if their idea is viable, they’re able to execute the vision, and they have the capital. Actionable adviceWhen investing, you have to trust more than just the individual; you must trust that they’re the right person to bring that product or idea to life. No. 1 goal for the next 12 monthsAnthony’s number one goal for the next 12 months is to launch his fourth book. Parting words  “Do good work because you’re here for a short time. Make it count.”Anthony Iannarino  [spp-transcript]   Connect with Anthony Iannarinohttps://www.linkedin.com/in/iannarino/ (LinkedIn) https://twitter.com/iannarino (Twitter) https://www.facebook.com/thesalesblog (Facebook) https://www.instagram.com/iannarino/ (Instagram)...
Dec 05, 2021
Garrett Roche – Don’t Forget the Macro When Investing in Stocks
25:55
BIO: Garrett Roche is Chief Investment Strategist at Uxbridge Capital Advisors, a private wealth advisory firm in New York City. STORY: Garrett got caught up in the Nokia stock when the technology bubble hit. He hung on to the stock for too long even though it was clear the stock was not about to go up. He lost 60% of his investment. LEARNING: Take a macro view when picking stocks. Have an average of 10 investments in your portfolio.   “Don’t get caught up in the details of a single stock holding and focus so much on the fundamentals that you live in.”Garrett Roche  Guest profilehttps://www.linkedin.com/in/garrettroche/ (Garrett Roche) is Chief Investment Strategist at https://uxbridgecapital.com/ (Uxbridge Capital Advisors), a private wealth advisory firm in New York City. He assists HNW individuals, family offices, and endowments with investment portfolio strategy, economic and market trend-spotting, and portfolio and trading risk management. Previously he was a Global Investment Strategist at Bank of America Merrill Lynch, a senior research analyst, an economist at PricewaterhouseCoopers, a strategic financial analytics manager at JPMorgan Asset Management, and a credit portfolio analyst at Garnet Capital Advisors LLC. He holds a BA in finance and accounting from the National University of Ireland, as well as an MS in economics and an MA in public affairs from University College Dublin, Ireland. He is also a CFA charterholder, and an FRM certified financial risk manager. Worst investment everGarrett was attracted by the Nokia stock and got into it when it was selling at around $13 in the summer of 1999. He then bought more stocks at $21 in early 2000. He rode it up to $34. Then the tech bubble started to burst across the telecom landscape. Seven weeks later, the stock fell by 40%. Garrett decided to hang on and got caught up in a bull trap. The stock price would go up a little then go down again. It was a complete roller coaster. By September 2001, Garrett had lost about 60% of his original investment. This is the point where he decided to sell. Lessons learnedDon’t get caught up in the detail of a single stock holding where you’re focused so much on the fundamentals that you live in. Stand back and take a macro view that incorporates a broader picture of your investments. Andrew’s takeawaysStop losses can bring value. Portfolio construction is very critical. Have an average of 10 investments in your portfolio. Actionable adviceTake a step back when you’re entirely compelled about a narrative around a stock, especially if it’s in a new industry. No. 1 goal for the next 12 monthsGarrett’s number one goal for the next 12 months is to increase assets under management and clients service. He’s also developing machine learning techniques and algorithms around portfolio construction Parting words  “Stay vigilant and always remember the macro overlay.”Garrett Roche  [spp-transcript]   Connect with Garrett Rochehttps://www.linkedin.com/in/garrettroche/ (LinkedIn) https://uxbridgecapital.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew...
Dec 02, 2021
Mike Lung – Have a Defined Exit in Every Trade
19:39
BIO: Mike Lung is the Director of Brokerage at Allendale Inc, which is best known for specializing in the Agriculture sector since 1985, working with farmers, ranchers, merchandisers, and others to hedge their risk when it comes to buying and selling agricultural products/inputs. STORY: Mike got into the wheat market without a plan or any research. The market went down and saw him lose his investment. LEARNING: Always have a defined exit plan before you get into any trade. Use futures and options for effective risk management.   “Have a plan of attack, do your research and really know what you’re getting yourself into before you get into a trade.”Mike Lung  Guest profilehttps://www.linkedin.com/in/lungmichael/ (Mike Lung) is the Director of Brokerage at https://www.allendale-inc.com/ (Allendale Inc), which is best known for specializing in the Agriculture sector since 1985, working with farmers, ranchers, merchandisers, and others to hedge their risk when it comes to buying and selling agricultural products/inputs. During his time at Allendale, Mike has had to help navigate his clients through trade wars, COVID fear, drought concerns, packing house fires, and much more. These types of events drew him deeper into the commodity rabbit hole to figure out what exactly makes the markets tick. He is currently working towards a Chartered Market Technician designation and will be diving into getting his CFA afterward. Mike has been quoted in articles by Reuters, Agri-Pulse, Iowa Agribusiness Radio Network, Bloomberg, and more. Worst investment everMike jumped into the wheat market with the hope of making good returns. At the time, there were rumors that Russia would be cutting its export program and increasing tariffs. This meant that that business was all going to come flocking to the US. So he got into it. Then the price started going down, but Mike was still confident with the market and kept putting in more. Prices just kept going down. While Mike didn’t take a big hit, the downward market spiral took a lot of his confidence, and he eventually decided it was time to cut off the trade. Lessons learnedWhen going into something, especially if it’s on a speculative basis, make sure that you have a defined exit. Learn how to use futures and options for effective risk management. Andrew’s takeawaysIf your exit plan is a stop loss that’s automatically executed, accept that stock will always bounce back. The main thing is you’re just trying to prevent catastrophic loss. Actionable adviceWrite down your plan of attack or trading strategy on paper before you enter anything. No. 1 goal for the next 12 monthsMike’s number one goal for the next 12 months is to pass the two Chartered Market Technician tests. Parting words  “Don’t put any more in trades.”Mike Lung  [spp-transcript]   Connect with Mike Lunghttps://www.linkedin.com/in/lungmichael/ (LinkedIn) https://www.facebook.com/Allendale.Inc (Facebook) https://twitter.com/Allendale_inc (Twitter) https://www.allendale-inc.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/
Nov 30, 2021
Thanawit Ounsakul – Find Your Investment Style and Stick To It
22:34
BIO: Thanawit Ounsakul is a Petroleum Engineer with enthusiasm for business and the people behind it. He is a long-term investor who has been riding the financial wave since 2006 and blogs about his investment views. STORY: Thanawit came across a stock whose valuation seemed ok, and analysts said it would go up drastically. He bought it without further research only to make a 50% loss a year later. There was no hope of the stock rising because demand for the company’s commodity had shifted. LEARNING: Don’t depend on quantitative analysis only; use qualitative analysis too to value a company. Buy cyclical stocks when PE is expensive and sell when they’re cheap.   “Find your investment style and try to turn it from good to great.”Thanawit Ounsakul  Guest profilehttps://www.linkedin.com/in/thanawit-ounsakul-ab57958b/ (Thanawit Ounsakul) is a Petroleum Engineer with enthusiasm for business and the people behind it. He is a long-term investor who has been riding the financial wave since 2006 and blogs about his investment views. Worst investment everIn October 2011, Thanawit came across a commodity stock that went down to $40 from its all-time high of about $60. The valuation looked very cheap, with the price to earnings at less than 10x and debt to equity of less than one. Analysts were saying it would go to $80. Thanawit did some math and figured it would be an outstanding stock to buy. So he bought it at $30, then the price moved up to $45, and he just kept on buying on the way up. A few months later, in March 2012, the price started going down, and it got back to $30, the price he first had bought it at. Thanawit was confident and bought more positions expecting the stock to rebound. But the price kept going down. Thanawit decided to research what was going on with the company—which he should have done before buying the stock. He learned that the demand for that commodity had shifted. Basically, the sales kept dropping quarter after quarter. Because of loss aversion, Thanawit didn’t want to sell until November 2012, when he got extremely stressed about it. He spoke to one of his lecturers from university who pointed out that Thanawit’s investment was a sunk cost and advised him to look forward, not backward. So he sold his stock making about 50% loss. Lessons learnedBe aware of the value trap that makes you value a company depending on quantitative analysis only without including qualitative analysis as well. Don’t evaluate a company based on past earnings only; use future evaluation as well. Let go of the looser stock as soon as you can. Andrew’s takeawaysBe careful because investing is a physical activity, and many people go into it not realizing that, and then they lose control of their emotions. Just because someone’s an analyst doesn’t mean that they’re necessarily a great stock picker. Buy cyclical stocks when PE is expensive because that means they’re at the bottom of their earnings cycle, and then sell when they’re cheap. Actionable adviceTo adopt any principle or repeat a policy throughout your life, you must feel good about it. Find your style and try to turn it from good to great. No. 1 goal for the next 12 monthsThanawit’s number one goal for the next 12 months is to publish a well-written investment article as often as he can so that his followers can be at least one inch closer to the investment world. Parting words  “Just enjoy investment.”Thanawit Ounsakul  [spp-transcript]   Connect with Thanawit Ounsakulhttps://www.linkedin.com/in/thanawit-ounsakul-ab57958b/ (LinkedIn) https://www.facebook.com/Investgineer (Facebook) https://twitter.com/InvestgineerX (Twitter) https://investgineerx.medium.com/ (Blog) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M...
Nov 28, 2021
Sakthivel Thevar – Invest Your Time in the Right People
27:55
BIO: Sakthivel Thevar is a highly sought-after international speaker and Maximum Performance coach within the business and corporate circles. STORY: Sakthivel was looking for a mentor when he first joined the corporate world. Without much thought into it, he went with the first guy who offered to mentor him. He didn’t gain much from the mentor even after working with him for months. The mentor was just not the right fit. LEARNING: Be clear about the kind of people you want to invest in. Take your time, don’t rush when finding a mentor.   “Just as you don’t blindly invest in a house, look at the options available for you when picking a mentor.”Sakthivel Thevar  Guest profilehttps://www.linkedin.com/in/sakthivel-thevar/ (Sakthivel Thevar) is a highly sought-after international speaker and Maximum Performance coach within the business and corporate circles, starting his career in the most challenging way possible as a military officer and Airborne Ranger in the Singapore Armed Forces. Worst investment everWhen Sakthivel left the military, he decided to join the financial industry as an advisor. His goal was to make a difference to people. Because he didn’t know much about being an entrepreneur, Sakthivel decided to invest in a mentor. He went out and talked to several people. Then this guy came up to him and told him that he could be his mentor. Sakthivel didn’t think twice. He decided to work with him. Eight months later, Sakthivel’s business was tanking, and he could barely pay his bills. When he couldn’t afford to buy his daughter a book she wanted, he realized that he had made a wrong investment. He had invested his time and business with the wrong person because he didn’t do his due diligence to check other options. He chose a mentor blindly without first figuring out what to look for in a mentor. He just decided this guy was the one and just went for it. Lessons learnedWhen choosing a mentor, find out whether they’re in line with what you believe in. Be clear of who you want to invest your time in and if they’ll be able to bring you to where you want to be. Take your time, don’t rush when finding a mentor. Don’t be afraid to ask questions. Learn to say no to people who are not the right match for you. Andrew’s takeawaysTake the time to do the research, and the benefits will come. Time is the only real resource that we have. It allows us to do the things that we want to do. Use it well. Get the right boss. So many people get stuck in situations where they’re with the wrong people, and they stay out of convenience. Don’t walk away from what works. Actionable adviceBe clear about what you’re looking for when you’re thinking of investing your time in learning something, especially from someone. Be clear of the outcome or the things that you require from this person. Then ask yourself whether this person can bring you in that direction. No. 1 goal for the next 12 monthsSakthivel’s number one goal for the next 12 months is to get his new book out. He also gives talks, so his biggest goal is to reach out to as many people as possible. Parting words  “Wake up every morning and ask yourself; ‘If I’m good at something, how can I go about doing it better?’”Sakthivel Thevar  [spp-transcript]   Connect with Sakthivel Thevarhttps://www.linkedin.com/in/sakthivel-thevar/ (LinkedIn) https://www.facebook.com/TR.Sakthivelthevar (Facebook) https://www.youtube.com/channel/UCerMnsyjRzb2zGE-bN5EfXA (YouTube) https://www.sakthiveltr.com/ (Website) https://www.betteryhubpodcast.com/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Nov 25, 2021
JB The Wizard – Embrace the Magic of Getting Into Alignment
33:35
BIO: JB The Wizard received his name from his clients when seemingly hard-to-explain breakthroughs were happening in business when he was simply focusing on the individual. STORY: JB was already a master of self-development and alignment, but he needed another skill to make more money. So for over 14 years, he learned all about online marketing. This was a poor time investment because now his clients pay him for his self-development and alignment skills, not online marketing skills. LEARNING: Be ready to say no to many things if you want to stay in alignment. Focus exclusively on your customer and their needs.   “Alignment means tapping into your purpose for why you are here in the first place.”JB The Wizard  Guest profilehttps://www.linkedin.com/in/jbthewizard/ (JB The Wizard) received his name from his clients when seemingly hard-to-explain breakthroughs were happening in business when he was simply focusing on the individual. He has a degree in Pre-Medical Exercise Physiology, acted in Hollywood films, Television, and Theater, is an award-winning director, and now advises CEOs, Celebrities, and Top Salespeople on exactly what to focus on to ensure that every other personal and business dream, comes true. Worst investment everJB started his journey to self-development when he was a kid, and by the time he was an adult, he was an alignment expert. But still, there was always this desire to get more clients and make more money. He spent over 14 years studying everything he could about marketing. From online marketing to squeeze pages to landing pages and everything in between. JB believed these skills would make him more money than working with clients to help them find alignment. But with time, JB realized that what his clients were paying him more for was not his Facebook marketing skills or his squeeze pages, not any of that. It was happiness, mental freedom, the awareness that he has, and the alignment that he helped them find. So his worst investment ever was spending so much time trying to learn something else while he already had the skill clients were willing to pay for. Lessons learnedAlignment means tapping into your purpose for why you’re here in the first place. Be ready to say no to many things if you want to stay in alignment and keep things moving forward. When something is in your alignment, it doesn’t take discipline to do it; it’s just a behavior that comes naturally. Andrew’s takeawaysBy focusing exclusively on your customer, you discover their needs and wants, and then you can serve those. Part of alignment when it comes to attracting customers is making sure that you understand your clients’ needs and provide the services and support for those needs. Once you do that, there isn’t any better marketing than that. Actionable adviceYou already have the answer. You know who you are, and that’s what you want to take action towards. No. 1 goal for the next 12 monthsJB’s number one goal for the next 12 months is to increase the number of clients he works with from three to eight people per month. Parting words  “You already have the answers.”JB The Wizard  [spp-transcript]   Connect with JB The Wizard https://www.linkedin.com/in/jbthewizard/ (LinkedIn) https://twitter.com/thewizardisreal (Twitter) https://www.facebook.com/JBtheWizard/ (Facebook) https://amzn.to/32esIHh (Book) https://futurewiththewizard.com/ (Website) https://podcasts.apple.com/us/podcast/futuring-with-the-wizard-ordinary-conversations/id1560403010 (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Nov 23, 2021
Joseph Frankie – Some Things Are Just Out of Your Control
28:56
BIO: Joseph Frankie (Joe) is a West Point graduate who had a full multifunctional military career as a warfighter and logistician. STORY: Joe got into a deal in China that was quite lucrative. However, the financial crisis of 2008 hit and saw him lose everything he’d invested in the deal. LEARNING: Walk away from a cul-de-sac and get onto something else fast. Failure is not always your fault but how you react to it is your full responsibility.   “Learn when to walk away and do it fast. The sooner you get on to something else, the better you’ll be.”Joseph Frankie  Guest profilehttps://www.linkedin.com/in/joefrankieiii/ (Joseph Frankie (Joe)) is a West Point graduate who had a full multifunctional military career as a warfighter and logistician. Today, he helps leaders build a bridge from where they are now, to where they want to go. Most often, he helps 40+-year-olds figure out what is next. He assists leaders internationally, online. Worst investment everJoe’s worst investment ever was working on a deal in China. At the time, the Chinese government was trying to get their wastewater treatment infrastructure together. Chinese companies had to bid on this project, and those that made it to the final three had to put up a letter of credit for 33.3 percent. This meant that if any of the three got picked, they executed that letter of credit and were all in. The Chinese companies’ challenge was that they didn’t have the working capital necessary to run multiple projects. Even though they had the bandwidth and the capability, they ended up having to finish one project, get the return, and then get into another one. Whereas they really could be doing as many as five to 10 projects. This is where Joe came in. Through a cooperative joint venture with two companies, Joe provided the Chinese companies the capital necessary to do multiple ventures. Then the Lehman Brothers debacle following the financial crisis of 2008 happened. All of the rules on moving money internationally changed overnight. Funds were frozen, decisions took forever to be made, and Joe found himself in a cul-de-sac. He had no option but to walk away and count his losses. Lessons learnedWhen you realize it’s a cul-de-sac, just back out of it fast and get on to something else that’s productive, rather than spend any more time on it. Andrew’s takeawaysRandomness will always come, and you don’t have any control over that. There are factors in your life that just happen, and it’s not your fault. But the way you react to it is your responsibility. Sometimes you just have to walk away from something that’s not working because putting in more effort isn’t going to make any difference. Actionable adviceYou have to be attuned to the environment. You’re going to deal with volatility, uncertainty, and all of that kind of stuff. The sooner you recognize that you’re in that situation and make your quick assessments and determine what you want to do, the better off you’ll be. No. 1 goal for the next 12 monthsJoe’s number one goal for the next 12 months is to continue promoting his book https://jfiiiassociates.com/5-minute-drill/ (LinkedIn: The 5-Minute Drill for Executive Networking Success). Parting words  “Your LinkedIn profile is your billboard to the world. Don’t sell yourself short.”Joseph Frankie  [spp-transcript]   Connect with Joseph Frankiehttps://www.linkedin.com/in/joefrankieiii/ (LinkedIn) https://twitter.com/JoeFrankieiii (Twitter) https://www.facebook.com/jfiiiassociates (Facebook) https://jfiiiassociates.com/5-minute-drill/ (Book) https://jfiiiassociates.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online...
Nov 21, 2021
Fred Diamond – Learn How to Recognize Opportunities
31:03
BIO: Fred Diamond is the co-founder of the Institute for Excellence in Sales, a member organization for sales leaders and their teams. STORY: Fred had a friend in college who reached out to him three times requesting him to work for him over the years. Fred turned him down every single time. That friend ended up building a company that he sold three times over for five billion dollars. LEARNING: Be open to the opportunities that come your way. Work with people you like and trust and who trust you too.   “If you want to start working for yourself, start now.”Fred Diamond  Guest profilehttps://www.linkedin.com/in/freddiamond/ (Fred Diamond) is the co-founder of the https://i4esbd.com/ (Institute for Excellence in Sales), a member organization for sales leaders and their teams. Members include Amazon, Salesforce, Red Hat Software, and Intel. He is also the host and producer of the award-winning https://www.salesgamechangerspodcast.com/ (Sales Game Changers) Podcast and webcasts. Fred is based in Washington, D.C. Worst investment everTwo years after Fred graduated, he got a call from his college friend, Mark. He told him that he was starting a company and was inviting people to go to New York and talk about what kind of company they should start. Even though Fred was impressed with Mark in college, he didn’t consider him a serious entrepreneur, so he didn’t go for the meeting. About seven years later, Mark called Fred. At the time, Fred was working at Compaq computer while Mark sold direct marketing services. He asked Fred if he could get a meeting at Compaq to pitch his services. Fred got him a meeting with the guy in charge of direct marketing, and he did a great presentation. Afterward, Mark asked Fred to work for him and help him take his company to the next level. Fred still didn’t quite see his friend as a serious entrepreneur, so he said he wanted to stay at Compaq. Over the next couple of years, Fred moved to several companies, and eventually, he decided he wanted to work with pre-IPO startups. He happened to be in New Jersey on his way to Germany for some customer meetings and decided to have lunch with Mark. He told him of his desire to work with pre-IPO startups. Again, Mark asked Fred to work for him in D.C. He’d pay him $150,000 a year and give him 10,000 shares. Again, Fred turned Mark down because he didn’t think his company was what he thought a pre-IPO company looked like. Fred went on to work with two pre-IPO companies that folded in just a year. Eventually, he started his own company that has gone to be the success it is today. While Fred is successful today, he regrets missing the opportunity to work with Mark, who built a company that he sold three times over for five billion dollars. Lessons learnedLearn about people in your circles who seem to be successful. Find people you can trust and who trust you. You’ve got to see what the opportunities might be and then step in to take them. Work with people that you like. Andrew’s takeawaysWhen we’re in a situation, we see things differently than how we see them coming out of that situation. Now and then, things are going to seem glaringly obvious. But most of the time, it’s not going to be that clear and obvious. Be open to opportunities and grab those that are right in front of you. Actionable adviceIf you want to work for yourself, start sooner. If you’re committed, cut the bait, meet some brilliant people, be smart, hire someone, figure out where the cash flow will come from, and get the support of a spouse. No. 1 goal for the next 12 monthsFred’s number one goal for the next 12 months is to triple the sales of the Institute for Excellence. Parting words  “Start today. There’s no better time than today. Get out there and make something happen.”Fred Diamond  [spp-transcript]   Connect with Fred Diamond https://www.linkedin.com/in/freddiamond/ (LinkedIn) https://twitter.com/IESBD (Twitter)...
Nov 18, 2021
Jeff Bullas – Don’t Force Things, Learn to Go With Your Flow
40:29
BIO: Jeff Bullas is the owner of jeffbullas.com. Forbes calls him a top influencer of Chief Marketing Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on Twitter. STORY: Jeff bought a mattress and bedding furniture store, an area he had no experience or passion in. He did no research or did any due diligence, and within no time, he was deep in debt and had to close the store. He lost everything, including his marriage and the family home. LEARNING: Don’t start a business unless you have expertise and passion in that industry. Running a business is not all about the money.   “Just start. Create and share your craft, and then the world will show up.”Jeff Bullas  Guest profilehttps://www.linkedin.com/in/jeffbullas/ (Jeff Bullas) is the owner of https://www.jeffbullas.com/ (jeffbullas.com). Forbes calls him a top influencer of Chief Marketing Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on https://twitter.com/jeffbullas (Twitter). Worst investment everJeff once bought a mattress and bedding furniture store on a whim. He had zero experience in running a retail business. He did zero research and due diligence. He was just thinking of the money he would make from the business. Within a day or two of buying the store, Jeff realized he’d made the wrong decision. Instead of making money, the business was chewing up cash for months on end. Jeff’s bank balance was getting lower and lower. He decided to pivot to another location to get a long-term lease. Jeff hated running this business. He was in the store seven days a week. He felt trapped. Eventually, he got to a point where he realized that he needed to pull the pin. Jeff closed the doors one day and walked away. This failure caused Jeff’s marriage to break. He was too deep in debt that the bank took possession of the family home, and he was left with nothing. Lessons learnedWhen starting a business, don’t do it just for the money. Start a business that you’re uniquely qualified to run. Ask yourself if you have the curiosity, passion, and expertise to do it. If not, don’t do it. Just start. Create and share your craft, and then the world will show up. Entrepreneurship is not just about chasing the money; it’s also about tapping into why you’re here and why you’re doing it. Andrew’s takeawaysMost people fail to do their research when starting a business. They see an opportunity, get seduced by it, and end up putting aside their normal rationality because they’re excited about it. Money is an outcome of your passion. Failure can shake not only your confidence but the confidence of the people around you. But, don’t forget that failure is inevitable and when it happens, just walk away. Actionable adviceDon’t force it. We live in a perfect world, but it doesn’t always unfold in the way we want. When you try to force it, generally, bad things happen. No. 1 goal for the next 12 monthsJeff’s number one goal for the next 12 months is to launch a new product and have some fun doing it. Parting words  “Just start and learn. Don’t try to be a perfectionist.”Jeff Bullas  [spp-transcript]   Connect with Jeff Bullashttps://www.linkedin.com/in/jeffbullas/ (LinkedIn) https://twitter.com/jeffbullas (Twitter) https://www.facebook.com/jeffreybullas (Facebook) https://www.youtube.com/c/TheJeffBullasShow/featured (YouTube) https://www.jeffbullas.com/ (Website) https://podcasts.apple.com/au/podcast/the-jeff-bullas-show/id1502649184 (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to...
Nov 16, 2021
Brennan Spellacy – Differentiate Between One-Way and Two-Way Doors in Your Life
34:15
BIO: Brennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions. STORY: Brennan got offered a full-time junior software development job at Shopify after completing his internship, but he turned it down so that he could go back to complete his degree. The job came with stock options that would be worth an eight-figure today. He never got to use his degree. LEARNING: Seek help from the right people when making decisions. Ask yourself if your decision is permanent or nonpermanent.   “When you’re making a decision, ask yourself if it can easily be undone or it’s permanent.”Brennan Spellacy  Guest profilehttps://www.linkedin.com/in/bspellacy/ (Brennan Spellacy) is one of the co-founders and CEO of https://www.patch.io/ (Patch), the platform for negative emissions. Prior to starting Patch, Brennan worked in a range of product and engineering roles at Sonder and Shopify. Worst investment everBrennan got offered a full-time junior software development job at Shopify after completing his internship. He still had two years of university remaining, so he turned the job down to go back to school. What Brennan regrets most is missing out on the stock options that came with the job. These options would be worth an eight-figure today. And the sad part is that Brennan never really used his degree. Lessons learnedUnderstand asymmetric risk and asymmetric upside so that you can make an objective decision. Understanding your value system will help you make sure you’re optimizing for that when making a decision. Weigh both permanent and nonpermanent decisions. Andrew’s takeawaysDon’t beat yourself up too much because you’re not a multimillionaire. When it comes to recognizing opportunities, sometimes you only get more clarity as you grow older. Money is just one aspect of decision-making. Make sure your decision-making process is good. Take your time and talk to the right people. Actionable adviceif you’re at some crossroads, get robust data on both sides before you make your decision. No. 1 goal for the next 12 monthsBrennan’s number one goal for the next 12 months is to grow Patch to about 35 or 40 employees. Parting words  “Sometimes, you got to just shoot your shot and leave it all out there.”Brennan Spellacy  [spp-transcript]   Connect with Brennan Spellacyhttps://www.linkedin.com/in/bspellacy/ (LinkedIn) https://twitter.com/bspellacy_ (Twitter) https://patch.io (Blog) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Nov 14, 2021
Emmanuel Michael – Test Your Market Before Starting Your Business
24:39
BIO: Emmanuel Michael, a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries. STORY: Emmanuel started a locks business that saw him lose over $30,000. His biggest problem was not testing the market before buying the locks. LEARNING: Test your market first before you launch your product. Always think about how you’re going to get customers.   “Find your customers first before you even have your product.”Emmanuel Michael  Guest profilehttps://www.linkedin.com/in/enmichael/ (Emmanuel Michael (EM)), a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries such as multidisciplinary engineering, information technology, hospitality, and financial services, of which over 17 years have been in human resources management practice. Between March and August 2017, he held forth as the Interim CEO & Head of HR at Letshego MFB, a national microfinance bank in Nigeria. He is currently the Head of Human Capital at Letshego Nigeria. Emmanuel is also the Founder & Host of https://anchor.fm/enmichael (HR with EM)–a platform to Connect, Learn, and Share on everything leadership, career development, and employee experience. He is fondly called “The HR Celebrity” by the Nigerian HR community. Worst investment everEmmanuel always wanted to be an entrepreneur. After he had saved enough money, he decided to start a locks business. He immediately ordered some locks and started looking for office space. Once he got a space, he started looking for a market. To market his locks, Emmanuel decided to visit car companies to see if they would buy them and install them in their cars, such that when customers come to buy the vehicles, they would sell the locks as part of the accessories. This didn’t work out too well for him. Next, he decided to hire salespeople. They didn’t bring him much business either. Emmanuel was not able to generate enough revenue even to pay back the first year’s ends rent. He continued until the end of the second year. Teams were getting worse instead of getting better. At this point, Emmanuel had spent about $30,000 on the business and was yet to make any profits. When his rent expired after the second year and the landlord came to ask him to either renew the rent or move out, Emmanuel knew it was time to close shop and count his losses. Lessons learnedBefore you start selling, first research the market to ensure that customers want to buy your product. Talk to the right people as you research your market. Find your customers first before you even have your product. Failures can propel you to your next successful business venture. Andrew’s takeawaysWhen you’re doing marketing, you must test the market. You must also think about your marketing channel. Figure out how you’re going to get to the customer, and once you get to the customer, think about how you’ll convince that customer that this is right for them. Actionable adviceBefore you start any business, do a market test. Get a small group and offer them your service or product and see how they receive it. Tweak it and test it until it’s ready for launch. No. 1 goal for the next 12 monthsEmmanuel’s number one goal for the next 12 months is to have at least coached over 1,000 leaders, career trainers, or job seekers. Parting words  “Keep hope alive, don’t give up. It might look rough now, but it will get better tomorrow.”Emmanuel Michael  [spp-transcript]   Connect with Emmanuel Michaelhttps://www.linkedin.com/in/enmichael/ (LinkedIn) https://twitter.com/enmichael (Twitter) https://www.facebook.com/enmichaelng (Facebook) https://www.youtube.com/enmichael1 (YouTube) https://www.enmichael.ng/ (Website) https://anchor.fm/enmichael (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How...
Nov 11, 2021
Marvin Germo – Focus On Things That Bring You Cash Flow
28:20
BIO: Marvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant in the Philippines. STORY: Marvin was enticed to buy his first stock by his colleague who was having good luck with his. Marvin’s luck, however, wasn’t as good. The stock price went down significantly as soon as he invested causing him to lose all his money. LEARNING: Focus on your own way of investing; don’t depend on other people’s gains. Wealth is built over time, not overnight.   “Don’t focus on making money in the next eight minutes. Focus on the next eight years.”Marvin Germo  Guest profilehttps://www.linkedin.com/in/marvin-germo-51333b8/?originalSubdomain=ph (Marvin Germo) is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant who is among the most passionate personal finance experts in the Philippines. Worst investment everWhen Marvin was starting in the stock market, a colleague told him about a stock he was confident would do well. He, however, took his time and didn’t invest immediately. At the time, the stock was selling at 12 pesos and went to 15 in a couple of days, and then it went to 24. Marvin’s colleague doubled his money. He even borrowed from friends to invest more. Then the stock went to 32 pesos and then fell to 25. Marvin was impressed by his colleague’s conviction because he never stopped investing even when the stock price started to fall. Now he was interested in buying the stock too. His colleague convinced him that it was an excellent time to buy, and he remained optimistic that it would go to 50 pesos. Marvin bought the stock. Then two months later, the stock crashed to 17 pesos. He panicked, but his colleague told him to buy more so that he would break even when the stock goes back up. So he bought more stocks. The price never went up. Marvin sold half his stock at 16 pesos and the other half at 13 pesos. Lessons learnedYou build wealth over time. Don’t wait until you have a lot of money to start investing. Start with whatever you have right now. Take as much risk as possible while you’re young. When you’re investing, focus on your own race, you don’t have to compare your gains with other people’s. You have different starting points, different capital, different risk tolerances, and different timelines. Before buying anything, understand what it is, how much you should put in, and how to exit properly. Andrew’s takeawaysMost people struggle to be an entrepreneur because of the many things they have to deal with. Create, grow and protect your wealth. Most of the time, people are winning in the stock market through luck, not through skill, and therefore, when luck turns, they get hurt. Your business doesn’t always need debt to be valuable. Find something that you know that you can excel in and try to double down on that. Actionable adviceStart investing now and take your time to build wealth. It’s not a sprint; it’s a marathon. No. 1 goal for the next 12 monthsMarvin’s number one goal for the next 12 months is to understand the cryptocurrency space deeply. Parting words  “Keep on investing and pushing forward.”Marvin Germo  [spp-transcript]   Connect with Marvin Germohttps://www.linkedin.com/in/marvin-germo-51333b8/?originalSubdomain=ph (LinkedIn) https://twitter.com/marvingermo (Twitter) https://www.facebook.com/marvingermo (Facebook) https://www.youtube.com/channel/UCy8ARJvlGyYKc6-mIRvJajg (YouTube) https://marvingermo.com/ (Website) https://shopee.ph/stocksmartsph (Books) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points)...
Nov 09, 2021
Jimmy Lee – Sometimes Life Rewards You for Solving a Riddle
32:59
BIO: Jimmy Lee is a Venture Builder and Humanitarian. STORY: Jimmy and his partner got into a partnership with two other businesses for a huge project that would bring them big returns. One of the businesses wanted Jimmy to collude with them and kick the third company out of the project. He refused and got cut out of the project, losing everything he had invested in it. LEARNING: Get your downpayment at the start of the project. When you receive help, pay it forward.   “If you have a firm belief in yourself, and you know what you want to do, you should go for it. Things will come into place eventually.”Jimmy Lee  Guest profilehttps://www.linkedin.com/in/jimmyleefoodieboxgroup/ (Jimmy Lee) is a Venture Builder and Humanitarian. Believe in yourself, and you can make the impossible possible! Worst investment everJimmy was introduced to entrepreneurship by chance by a friend. He went into it without experience, capital, or contacts—just a law degree and an idea. His first startup was a creative agency doing motion videos. Within four years, he grew the business into a multi-million business. The year 2007 was a very great year for Jimmy and his business partner because they got two huge projects. They were engaged as a contractor for the celebration of the 50th anniversary of Malaysia. Their job was to project the first prime minister in a hologram. The following year, everything fell apart. Jimmy’s company got into a partnership with two other companies. Jimmy got called for a secret meeting with one of the companies and was told not to inform the other company. He went for the meeting with his partner out of curiosity. The value of the project was about 4.5 million Malaysian ringgit. The other company wanted to sideline the third company and divide the profit between their company and Jimmy’s. Jimmy and his partner said no to that idea because it was unethical. A week later, Jimmy’s company got terminated from the project. All the payments he was supposed to receive had been pending due diligence, and now he couldn’t get paid. He lost everything overnight. They had focused on that one huge project for the past few months, and many resources went to it. Lessons learnedDon’t give up even when you face failure and other hurdles. Get your downpayment money at the onset of the project. Andrew’s takeawaysPeople do help people sometimes out of the blue. Once somebody has helped you out of the blue, you have an obligation to pay that forward. Actionable adviceContinue exploring opportunities and learn from your failures and be better. From that, you can do something even bigger. No. 1 goal for the next 12 monthsJimmy’s number one goal for the next 12 months is to set up a venture fund in Singapore. The venture will fund projects focused entirely on food, technology, and social enterprise. Parting words  “Do things that are out of the box. Don’t be afraid because sometimes it’s just internal fear. So be bold and mighty force will come to your aid.”Jimmy Lee  [spp-transcript]   Connect with Jimmy Leehttps://www.linkedin.com/in/jimmyleefoodieboxgroup/ (LinkedIn) https://twitter.com/jimmyleebg (Twitter) https://foodiebox.group/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Nov 07, 2021
Judy Weber – Get Back to Dreaming Big
28:42
BIO: Judy Weber is a women’s business strategist and scaling expert, helping six-figure female CEOs take their business to the next level with strategy, systems, and simplicity. STORY: Judy always played small and allowed fear to hold her back from being who she truly wanted to be. LEARNING: Don’t let fear stop you from pursuing your dreams.   “Courage is not the absence of fear; it is taking a step forward even in the midst of your fear.”Judy Weber  Guest profilehttps://www.linkedin.com/in/judyweberco/ (Judy Weber) is a women’s business strategist and scaling expert, helping six-figure female CEOs take their business to the next level with strategy, systems, and simplicity. Her global client base is outstanding professionals, experts, coaches, consultants, and creatives. A former trial lawyer and c-suite executive turned serial entrepreneur, Judy overcame a lot to get where she is today. A small-town girl from humble means, she did what others thought was impossible as she pursued her dreams without apology. Featured on Fox, ABC, NBC, and CBS, women seek Judy out to learn how to think like a CEO and scale to seven figures! Worst investment everJudy’s worst investment was playing small. She lacked faith and didn’t believe in herself. Even though she was super driven and always wanted to be a lawyer, her lack of self-belief saw her study to be a music teacher instead of a lawyer. It took Judy five years after graduating from college to actually start law school because she was thinking small and didn’t believe she could be a lawyer. Lessons learnedDon’t let fear stop you from pursuing your dreams. Take action in spite of the fear. You’re perfectly imperfect, and you’re enough right now. It doesn’t matter your age, go for it and see what you can accomplish. Andrew’s takeawaysThe possibility of what you can do is beyond your imagination. If you do the next best thing for yourself each day, you’ll be amazed by what you can accomplish. Actionable adviceOpen up your mind to possibilities, and just take “no” out of the equation. If there’s something that you have always had a burning desire to do or to pursue, don’t let anything stop you. No. 1 goal for the next 12 monthsJudy’s number one goal for the next 12 months is to get her two books written and published. Parting words  “Pursue the impossible.”Judy Weber  [spp-transcript]   Connect with Judy Weberhttps://www.linkedin.com/in/judyweberco/ (LinkedIn) https://www.instagram.com/judyweberco/ (Instagram) https://www.facebook.com/judyweberco (Facebook) https://www.youtube.com/c/joyfulscalingforfemaleceos (YouTube) https://podcasts.apple.com/us/podcast/joyful-scaling-for-female-ceos-formerly-she-is-extraordinary/id1493479085 (Podcast) https://breakthoughstrategysession.as.me/joyfulscalingconsultation (FREE Joyful Scaling Strategy Consultation) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)...
Nov 04, 2021
Ted Clouser – Lead, Don’t Manage Your Business
21:40
BIO: Ted Clouser started in technology at the age of 16 when he formed his own computer business. In 1996, he joined PC Assistance of Little Rock, and he and his wife purchased the company in 2018. STORY: When Ted bought his company, he continued managing it instead of being a leader, leading to a couple of challenges, including a huge debt. LEARNING: Seek counsel when entering a new venture. To succeed, you must put your doubts and fears aside.   “Go win today. Make it successful. Don’t worry about tomorrow. You’re going to get out of this one day at a time.”Ted Clouser  Guest profilehttps://www.linkedin.com/in/ted-clouser-58a842156/ (Ted Clouser) started in technology at the age of 16 when he formed his own computer business. In 1996, he joined PC Assistance of Little Rock, and he and his wife purchased the business in 2018. Within a year, Ted rebranded to https://www.pcatechsolutions.com/ (PCA Technology Solutions) and has expanded to a total of three locations. Passionate about both people and technology, his firm focuses on Cybersecurity, IT Consulting, and Professional Services, Managed IT services, and Voice-Over-IP (VoIP). Married in 1998 to Stephanie, Ted has a daughter at the University of Alabama and a son at Scotland Prep in Pennslyvania. Worst investment everIronically, Ted’s worst investment ever is the company that he’s the CEO of today. He joined PC assistance in 1996 and was fortunate enough to spend his entire career at that organization. Somewhere around 2018, the founder and CEO decided that he was ready for an exit strategy. So they began the conversation. Ted was the executive vice president at the time, had over 20 employees, things were very successful, and he figured it would be a slam dunk to buy the company. This seemed like a perfect transition. It made complete sense. Ted’s advisors warned him that there would be challenges during the transition and changes as he went from VP to President and CEO, and he needed to prepare for them. He was, however, adamant that nothing would change because he’d acted like a president and CEO anyway. He believed it was going to be a smooth transition. So fast forward to January 1, 2018, when Ted took over ownership, it was great. He was on a high, and things were really beginning to fall together. He felt like it was a dream come true, and it was for about six months. Then the nightmare began. For about 20 months after Ted took over, an identity crisis started to unfold. He was in a state of depression, and the process completely changed who he was as a person. He came to realize that he had built a company, over 20 years, that was entirely dependent on him. It did not have any foundation and no processes. He also learned that he had an unhealthy identity with the organization. Ted had always seen himself as PC Assistance, and when he moved into a president and CEO role, he tried to be the vision caster instead of the guy that did it. He was simply managing and not leading his company, and this brought so many challenges, including debts. Lessons learnedSeek the counsel that you need to really think through and plan a new venture. Andrew’s takeawaysWhenever we make a big move in our lives, there are doubts and fears. These can motivate us at times, but ultimately, we have to put doubts and fears aside to be successful. Master the art of listening. Get a piece of paper and a pen and when other people speak, shut up and write down what they’re saying. Challenge yourself only to ask questions and write answers down. When you take over a business or build a new one, start with building cash flow. Actionable adviceTruly seek wise counsel. No. 1 goal for the next 12 monthsTed’s number one professional goal for the next 12 months is to make sure he doesn’t get in the way of what his team is doing. On a personal front, Ted’s goal is to be the best husband and father that he can be. Parting words  “Go for it. Dream big, seek counsel,...
Nov 02, 2021
David Walter – Start Marketing Your Book Before You Write It
26:20
BIO: David Walter is an author, speaker, and sales trainer. His claim to fame came from a cold-calling hot streak, during which he set 15 appointments a day for six months straight. STORY: David paid $10,000 and signed the rights to his manuscript to a famous publisher he believed would turn his book into a bestseller. The publisher was a fraud who never delivered any of the things he promised David. LEARNING: Think about your marketing before you even start writing your book. Look for the right person to edit your book.   “It’s one thing to be an author, but you also got to know how to market your book.”David Walter  Guest profilehttps://www.linkedin.com/in/david-walter-cold-calling-telemarketing-sales/ (David Walter) is an author, speaker, and sales trainer. His claim to fame came from a cold-calling hot streak, during which he set 15 appointments a day for six months straight. He later ran a prospecting call center, helping companies make millions. He is a contributing writer to Entrepreneur magazine. His book, https://milliondollarrebuttal.com/free-book (Million Dollar Rebuttal), is a #1 bestseller on Amazon. Worst investment everDavid put all his faith and hope in a publisher that he believed would market his book. He invested $10,000 into the company, thinking he was on his way to fame and fortune being an author. He even signed off the rights of his manuscripts to the company. A few months in, and everything started going wrong. The company wasn’t editing the book, and the book cover they gave him was terrible. Then the company was indicted for fraud and ended up in court holding up David’s manuscript in the process. The company never delivered any of the things they promised David. Lessons learnedFirst, check the Better Business Bureau rating of anybody that you want to work with before you do. Don’t look for a panacea to do it at all. Instead, specialize. If you want a book cover design, go with somebody who specializes in book covers and when it comes to editing, find a good editor for the book. Andrew’s takeawaysWhen you’re vulnerable and trying to do something for your business, it’s so easy to turn over everything to someone else who might not understand your goal. When you’re feeling vulnerable and desperate, slow down and take it all step by step. Actionable adviceThink about your marketing before you even ever write your book. How are you going to get that book out to the world? No. 1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to get into podcasting. Parting words  “You can do it if you believe in yourself.”David Walter  [spp-transcript]   Connect with David Walterhttps://www.linkedin.com/in/david-walter-cold-calling-telemarketing-sales/ (LinkedIn) https://twitter.com/LeadGenSecrects (Twitter) https://milliondollarrebuttal.com/free-book (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)...
Oct 31, 2021
Amit Somani – The Same Analysis Won’t Apply Every Time
20:49
BIO: Amit Somani is managing partner at Prime Venture Partners (PVP), a Bangalore-based, early-stage fund. For 20 years before this, he held leadership roles at Makemytrip (NASDAQ: MMYT), Google, IBM Silicon Valley Labs, and IBM Research. STORY: Amit’s company came across this company that had a great product but didn’t have a business model. Amit’s company decided to back it anyway. It didn’t go well. A few years later, they came across another company with a great product and a great team but, again, no business model. Having lost the first time, they decided not to back the second company. It went on to become a unicorn in three years. LEARNING: The same kind of analysis or rigor will not apply every time you’re investing. Don’t just extrapolate from a past pattern. Have repeatability in your investing process.   “You can’t borrow conviction; you have to get your own conviction because it’s subjective.”Amit Somani Guest profilehttps://www.linkedin.com/in/thesomani/ (Amit Somani) is managing partner at https://primevp.in/ (Prime Venture Partners (PVP)), a Bangalore-based, early-stage fund. For 20 years prior to this, he held leadership roles at Makemytrip (NASDAQ: MMYT), Google, IBM Silicon Valley Labs, and IBM Research. Amit was part of the leadership team that took Makemytrip public on NASDAQ in 2010. He was also the head of various teams focusing on search, mobile, and advertisement products at Google. One of his products, the search-based keyword tool, even won the Google Founder’s Award. Prior to his role at Google, he was the Director for the Enterprise Search and Discovery business at IBM San Jose, California. Worst investment everAmit’s company was looking at a great company around 2015/16. It had a phenomenal product in the women’s health space. They did their usual due diligence, spoke to the entrepreneur, and decided to back the company. However, one thing was missing, which was the lack of a viable business model. They decided it didn’t matter as long as the company was building something that people love. Unfortunately, this was a big mistake. They should have thought a little bit harder about how the business model would come out or the ability of that team to manifest the business model. Things didn’t work out well for the company. Fast forward a few years later. Amit’s company met another fantastic company in the FinTech space. Again, there was no business model, but the product looked great, they had an incredible team, and the market was big in terms of the people they could serve. But still, no business model. Amit’s company decided not to back this one due to the experience they’d had with the previous company. Then it went on to be a unicorn in three years. Lessons learnedThe same kind of analysis or rigor will not apply every time you’re investing. You’ve got to factor in the timing and not overly pattern match because things change, markets change, dynamics change. Evaluate things from the first principle basis. You do not want to just extrapolate from a past pattern. As long as you have repeatability in your process, in your method, in your sourcing, and your checklists, overall, you’re going to be just fine. Andrew’s takeawaysThere’s going to be a point where you’re just going to have to make your play. Actionable adviceIn early-stage investing, you can’t borrow conviction; you’ve got to get your own conviction because it’s subjective. There’s got to be something that’s off the charts that should catch your attention. No. 1 goal for the next 12 monthsAmit’s number one goal for the next 12 months is to launch his new fund and continue investing in a few new areas, including AI, crypto blockchain, and applying that to financial services and gaming tech. Parting words  “Be insanely curious, be a learning machine.”Amit Somani  [spp-transcript]   Connect with Amit Somanihttps://www.linkedin.com/in/thesomani/ (LinkedIn) https://twitter.com/amitsomani...
Oct 28, 2021
Marcel Daane – Don't Get Overconfident in Your Expertise
27:28
BIO: Marcel Daane is an award-winning executive coach and author living in Singapore. STORY: Marcel built a great gym, but because he thought he was the expert in the field, he became a horrible boss. He wanted to run the show to the point where he burnt himself out. Eventually, he had to leave the business that had taken him 10 years and $500,000 to build. LEARNING: Don’t start believing your own hype to a point where you ignore other people’s insights and opinions. Just because you have strong skills in an area that doesn’t mean you’ll make a great entrepreneur.   “When we become over-reliant on what we think, we know we get stuck in our heads.”Marcel Daane  Guest profilehttps://www.linkedin.com/in/marceldaane/ (Marcel Daane) is an award-winning executive coach and author living in Singapore. Worst investment everMarcel had a desire to start his own gym, and it took him about 10 years or so of saving. With the help of his wife, he managed to save a quarter of a million dollars. But Marcel needed about half a million, so he went out and sought some partners and managed to raise the half-million. Marcel then built one of the most awesome gyms in Singapore that you could imagine. He built a speed institute with the intent to give everybody an opportunity, including children, to feel like they were athletes. The gym had sprinting lanes and all that kind of stuff in there. But there were no treadmills. When they opened their doors and invited people to see the gym, they all asked where the treadmills were. It was right there and then that Marcel knew there was a problem. The problem was that he had built a gym that was for him, and it took so much energy to get people to buy into it. But where the investment went wrong was actually with Marcel. As a personal trainer, he was extremely passionate about how he did his work. He considered himself an expert in the field, so he treated his partners and staff like they were working for him and it was his way or the highway. Marcel became a horrible boss. With this kind of attitude, it didn’t take Marcel long to burn out. He finally concluded that he couldn’t sustain this way of operating. So he spoke to his partners, and they came to a settlement, and Marcel left the company. He had basically bailed on his own company. Interestingly, the company started doing better after he left. Lessons learnedIf you’re an expert in your field and want to start a business in that field, first check yourself. Make sure that you don’t start believing your own hype because other people around you may be less knowledgeable than you but might have some phenomenal insights that can help your business. Don’t get so determined that you put blinders on and stop opening yourself up to perspectives, ideas, and thoughts from other people. If you think you’re the expert, get other people to put you in check because you’re going to need them. Andrew’s takeawaysGive your customers what they want. Don’t get overconfident in your expertise. Just because you have strong skills in an area that doesn’t mean you’ll make a great entrepreneur. Actionable adviceStop believing that what you think you know is the only option. There are millions of different ways of operating and doing things, and there are ideas out there that you just lock yourself off to by believing in your own hype. No. 1 goal for the next 12 monthsMarcel’s number one goal for the next 12 months is to make sure that his new book https://amzn.to/3vsVz5e (The Five Energies of Horrible Bosses and How Not to Become One) ends up in bookstores all around the world and in people’s hands. He hopes the book will create a conversation around how we can lead our businesses differently and look at leadership and how we run our businesses from a more human perspective, rather than just being data-driven.   [spp-transcript]   Connect with Marcel Daanehttps://www.linkedin.com/in/marceldaane/ (LinkedIn)...
Oct 25, 2021
Jam Zulueta – Take Risks and Invest in Yourself
12:04
BIO: Jam Zulueta is a risk expert in the fintech and digital banking space. He is a career and personal finance coach. STORY: Jam failed to invest in himself for a very long time, and for this reason, he missed out on many opportunities in life. LEARNING: Invest in yourself as early as possible. Take risks, learn new things, and you’ll set yourself apart.   “The best investment you can make is an investment in yourself.”Jam Zulueta  Guest profilehttps://www.linkedin.com/in/jamzulueta/ (Jam Zulueta) is a risk expert in the fintech and digital banking space. He is a career and personal finance coach. Worst investment everJam’s worst investment ever was not investing in himself early in life. He didn’t try exploring new things or gaining new skills, and because of this, he missed out on many opportunities. It took Jam a long time to discover that when you’re investing, it’s not really about timing the market; it’s about time in the market. The same thing applies when investing in yourself. It pays to learn something early on in life by trying out new things, discovering things, and then getting into that. And once you get good at something, you continue with it for many years, and by the time you’re in your late 20s, 30s, or 40s, you’ll have become quite the expert in that field. Lessons learnedTry out new things, and take those risks not just in the financial ones but also on yourself. Go all-in on yourself. Try something new, do something special, and find what you love. Even if people shoot down your idea, or you make mistakes, keep trying. You only fail if you don’t take the shot. Andrew’s takeawaysStart now, learn something, and you will set yourself apart. Actionable adviceYou may not have that initial momentum to carry you forward but just start, just do it. No. 1 goal for the next 12 monthsJam’s number one goal for the next 12 months is to launch a digital bank he’s currently building. He also wants to increase his learning and focus on his coaching and personal finance career. Parting words  “Just get to it.”Jam Zulueta  [spp-transcript]   Connect with Jam Zuluetahttps://www.linkedin.com/in/jamzulueta/ (LinkedIn) https://www.facebook.com/coachjamzulueta (Facebook) https://www.youtube.com/c/JamZulueta (YouTube) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram) https://twitter.com/Andrew_Stotz (Twitter) https://www.youtube.com/c/andrewstotzpage (YouTube) https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2 (My Worst Investment Ever Podcast)
Oct 24, 2021
Amit Agarwal – Hire Smart People to Scale Your Business
14:44
BIO: Amit Kumar Agarwal is the founder and CEO of NoBroker.com, the world’s largest C2C real estate platform with 13 million customers, eliminating brokers and agents in real estate transactions with a tech-based approach. STORY: Amit decided to be in complete control of his business, and even when he hired people, he hired his juniors, who literally do nothing without him. This kind of control only created bottlenecks, and he couldn’t scale his business until he partnered with a person who had more expertise than him. LEARNING: You won’t scale your business if you keep doing everything on your own. Hire great people and nurture them.   “If you want to scale up, then doing everything on your own and trying to control things is a very bad idea.”Amit Agarwal  Guest profilehttps://www.linkedin.com/in/amit-kumar-agarwal-5b30301/ (Amit Kumar Agarwal) is the founder and CEO of https://www.nobroker.in/ (NoBroker.com), the world’s largest C2C real estate platform with 13 million customers, that is eliminating brokers and agents in real estate transactions with a tech-based approach. He has raised $151m of institutional funding so far. The NoBroker business model is disruptive, tech-based, capital-efficient, and designed to be scaled globally. Worst investment everWhen Amit first started his company, he was doing everything on his own. From finance to HR to operations. Everything would have to go through him. When it came to hiring people, he hired his juniors and continued making all the decisions. Slowly this blew over for Amit. Everything was over the place. His juniors didn’t understand his business, and he would have to be the one making even the tiniest decisions when trying something new. Amit’s team would get stuck because they had to speak to him before doing anything. Things just started going out of control because Amit couldn’t handle it all. Luckily, Amit was saved from his worst investment ever by a very experienced guy who happened to visit his office. He had gone to the same college as Amit, and they joined hands and ran the company together. Suddenly, there was a tremendous business change. Amit realized that what he needed was people smarter than him. Lessons learnedYou won’t scale your business if you keep doing everything yourself and trying to control things. Hire great people and nurture them. Get expertise in each functional area as soon as possible and give them independence and accountability. Andrew’s takeawaysWhen starting a business, work with the $3 million rule. Think about how quickly are you going to get your revenue to $3 million? With $3 million, you now have the budget to have a proper management team, office, software, and infrastructure to scale your business. If you’re struggling right now and are overloaded and overwhelmed dribbling it all yourself, stop and think about where you’re at. It may be time to reach out, get help, and build your team, so you’re not doing everything. Actionable adviceWe need to continue learning and reassessing our businesses. As the situation changes, you also need to change quickly, and hence you need better people with better expertise. No. 1 goal for the next 12 monthsAmit’s number one goal for the next 12 months is to keep his customers happy, expand into new services, and make them bigger.   [spp-transcript]   Connect with Amit Agarwalhttps://www.linkedin.com/in/amit-kumar-agarwal-5b30301/ (LinkedIn) https://www.nobroker.in/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market
Oct 21, 2021
Alex Gruye and Assaf Arie – All That Can Go Wrong When Buying a Rental Property
32:10
BIO: Alex Gruye and Assaf Arie are real estate property management brokers in Twin Cities, Minnesota. They’re partners at Lion Rock Property Management who handle real estate investments, manage portfolios, properties, etc. STORY: A group of gentlemen approached Alex and Assaf to manage some single-family homes they had invested in. These properties started as a bad investment, but the duo restored them and turned them into tier-one properties. They later sold them for double the money the gentlemen had invested. LEARNING: Proper due diligence is paramount. Have the proper team with the right experience to help you pick and manage your property.   “Talk to a seasoned property manager; they’ll get you a lot of insight on the market.”Alex Gruye and Assaf Arie  Guest profilehttps://www.linkedin.com/in/alex-gruye-25ba5611/ (Alex Gruye) and https://www.linkedin.com/in/assaf-arie-05025038/ (Assaf Arie) are real estate property management brokers in Twin Cities, Minnesota. They’re partners at https://www.lionrockproperties.com/ (Lion Rock Property Management) that handles real estate investments, manages portfolios, properties, etc., and all of the headaches that come along with it. Worst investment everA group of gentlemen who had made their first multifamily investment in a couple of single-family homes came to Alex and Assaf for their property management services. The homes were in a less desirable, tougher side of town known for its problems. The owners had purchased the property blindly and with a lot of excitement, but it turned out to be their worst investment ever. The homes were in a poor state when Alex and Assaf started managing them. They received 14 pages of citations that were never even disclosed through the underwriting process. There were units where all of the windows were broken, and they had to replace every stove, every refrigerator, and every AC unit in all 20 units. Alex and Assaf planned to turn this from the worst investment ever to the best one ever. The properties were a tier-three, and they worked them up to a tier-one. The plan was to recommend the owners sell the property after getting them to tier one. There were months of management where they held their bill essentially to make sure the properties kept afloat and got where they needed to be to sell them for profit. They did this because they knew money was going to come in once they sold them. They knew they had to go in and push to get the units to look nice and spent an upward of $25,000 to make this happen. They were able to sell the units, and the owners doubled their money. They turned something that was literally from day one the worst nightmare to an investment that brought in double the money. Lessons learnedIn real estate, proper due diligence is paramount. Have the proper team with the right experience, especially when getting your property. Understand the area the property you want to buy is in. Visit the area at different times of the day and see what it is like; talk to the neighbors and inspect every unit before you buy it. Know the nuances of the investment. Understand how it works, know how to operate it, understand the market drivers and the opportunities in the area. Also know the risks. Andrew’s takeawaysIt doesn’t matter what the investment you’re getting into; you’ve got to do your research to understand it and make sure it’s a worthy investment. When buying property and you don’t have a lot of experience in real estate, go and meet experts in that area and talk about it before you buy the property. This way, you will understand a lot of elements involved in the purchase that you may not have expected. Actionable adviceTalk to a seasoned property manager; they’ll get you a lot of insight into the market. No. 1 goal for the next 12 monthsAlex’s number one goal for the next 12 months is to stay healthy, keep positive every day and continue on the path of helping investors with their purchases....
Oct 19, 2021
Neivia Justa – Don’t Accept a Job Out of Fear of Being Jobless
31:02
BIO: Neivia Justa is a journalist, entrepreneur, speaker, mentor and teacher, founder and leader of JustaCausa, with 30 years of experience as an executive in communication, culture, diversity, equity, and inclusion, in leadership positions at companies such as Timex, Natura, GE, Goodyear, and J&J. STORY: Neivia turned down an invite to move to Ohio when the company she was working for moved. Afraid of being unemployed, she took the first job offer she got without doing any background research on the company. It turned out to be the most sexist company ever, and she quit after just three months. LEARNING: Don’t take just any job you get because you’re afraid of being jobless. Always stand up for yourself and what you believe in.   “If you learn to stand out for yourself, you get stronger.”Neivia Justa  Guest profilehttps://www.linkedin.com/in/neiviajusta/ (Neivia Justa) is a journalist, entrepreneur, speaker, mentor and teacher, founder and leader of JustaCausa, with 30 years of experience as an executive in communication, culture, diversity, equity, and inclusion, in leadership positions at companies such as Timex, Natura, GE, Goodyear, and J&J. Creator of #líderComNeivia program and the social media movements #ondeestãoasmulheres and #aquiestãoasmulheres, she was the winner of Troféu Mulher Imprensa (Women’s Press Trophy) and Prêmio Aberje in 2017 and, in 2018, was elected one of LinkedIn Brazil Top Voices. Worst investment everIn 2015, the company that Neivia was working for relocated its offices from Latin America to Ohio, and she was invited to move there. However, she was not sure she wanted to leave one of the biggest cities in the world and move to a small town. She dilly-dallied with her decision for about six months when her boss insisted it was time to decide. Neivia decided not to move to Ohio, much to her husband’s disappointment, as he dreamed of living in the US. Her husband was not pleased with her decision and didn’t speak to her for a month. Now that she decided to stay, it meant that Neivia would be jobless soon. Because she didn’t want to be unemployed, she took the first job that she got. During the job interview, some red flags indicated that this wasn’t a good company to work in, but Neivia hardly paid any attention to them. She simply wanted to get the job, and she did. The company turned out to be sexist, and the boss was the worst she’s ever worked with. She quit after just three months because she couldn’t stand it. Lessons learnedDon’t accept any job that comes along just because you’re afraid to be unemployed. Before accepting a job, understand the company’s purpose, talk to people who have worked there or still work there and look at how the leaders behave, think, and treat people. Andrew’s takeawaysStand up for yourself and for what’s right. Actionable adviceWhen looking for a job, pay attention to the people working for that company because companies are made by people, and those people build the culture. A healthy culture is created by healthy people who respect others and want to collaborate and serve people. No. 1 goal for the next 12 monthsNeivia’s number one goal for the next 12 months is to connect and help develop true leaders that love people and who want to assume their responsibility to make our world fairer, more equal, and more sustainable.   [spp-transcript]   Connect with Neivia Justahttps://www.linkedin.com/in/neiviajusta/ (LinkedIn) https://www.facebook.com/neivia.justa (Facebook) https://www.youtube.com/channel/UCqDSDCzZ_u6ol7aB58mDJWQ (YouTube) https://www.linkedin.com/newsletters/diversity-inclusion-6532001192615178240/ (Blog) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14...
Oct 17, 2021
MD Imdadul Islam – Never Borrow Money to Invest
21:57
BIO: MD Imdadul Islam (Imdad) is a business strategist, speaker, and collaborator. He collaborates with CEOs, CXOs, sales leaders, Realtors, and Financial Advisors to help them grow via Personal Branding, Social Selling, and Employee Advocacy. STORY: Imdad met a guy who sold him on the idea of investing in his online business. He borrowed money from his mom and put it into the company. He received some returns the first two months, but after that, the guy went mute. Eventually, he learned that the company had closed shop, and that’s how he lost his six-figure investment. LEARNING: Never invest with borrowed money. Know the business well before you invest in it.   “Don’t borrow money to invest because that’s not your money to lose.”MD Imdadul Islam  Guest profilehttps://www.linkedin.com/in/imdadsinsight/ (MD Imdadul Islam) is a business strategist, speaker, and collaborator. He collaborates with CEOs, CXOs, sales leaders, Realtors, and Financial Advisors to help them grow via Personal Branding, Social Selling, and Employee Advocacy. He has gained experience in the consulting profession by working with a number of Group Companies, SMEs, and Startups in Bangladesh. Worst investment everImdad was always interested in becoming an investor. So he’d network with many people and talk to his seniors about their investments and how they do it. He met a guy who shared an investment opportunity at a company dealing with some online business. Imdad didn’t understand much about the business, but he believed the guy when he told him they could multiply his investment. Imdad went to his mom and asked her to lend him money to invest in the business. His mom loaned him a six-figure amount, which was quite a big deal because she wasn’t rich, but she trusted Imdad. He took the money and invested it in the business. Imdad got some returns the first two months, then suddenly there were no more payments. His friend told him that the business was just going through typical business hurdles and would bounce back. When the payments didn’t come through for a couple of months, Imdad visited their office only to find the company had shut down. His calls went unanswered, and soon enough, he realized he had been scammed. Lessons learnedBefore you invest, learn about the business. Understand how the company makes money, where your investment will go and if the company can generate a return for itself and you. Never invest by borrowing money because that’s not your money, and should you lose it, the loss will be twice-fold. Andrew’s takeawaysBe careful when a stranger or someone you barely know comes to you with an investment proposal. Such people are experts at playing on your emotions and will often scam you. Actionable adviceAt least have a basic idea of what you want to do before you do anything, not just in investment but in everything in life. No. 1 goal for the next 12 monthsImdad’s number one goal for the next 12 months is to add value to more people and help them grow their personal brand. Parting words  “The best investment you can ever make is in yourself.”MD Imdadul Islam  [spp-transcript]   Connect with MD Imdadul Islamhttps://www.linkedin.com/in/imdadsinsight/ (LinkedIn) https://www.facebook.com/imdad.global/ (Facebook) https://www.youtube.com/channel/UC9XU6W76IwjvfUc1R9qEAQg (YouTube) https://www.linkedin.com/pulse/top-5-reasons-companies-need-take-care-employees-md-imdadul-islam/ (Blog) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start...
Oct 14, 2021
Chatchai Unrasmeewong – A Shareholder’s Agreement Will Save Your Partnership
29:03
BIO: Chatchai Unrasmeewong is a financial advisor at FINLAB, a financial advisor group that helps clients reach their financial goals. STORY: Being a board game enthusiast, Chatchai decided to partner with a friend and open a board game cafe when he was in university. His target was students at local universities, so he picked a location next to one of the universities. The cafe did well but after one month schools went for a 3-month holiday break and the business could not withstand such a long break. LEARNING: Always sign a shareholder’s agreement when getting into a business partnership. Research your market thoroughly before launching your business.   “Spend enough time studying the market if you want to run a successful business.”Chatchai Unrasmeewong  Guest profilehttps://www.linkedin.com/in/chatchai-unrasmeewong-5956951a8/ (Chatchai Unrasmeewong) is a financial advisor at https://www.linkedin.com/company/f-i-n-lab/ (FINLAB), a financial advisor group that helps clients reach their financial goals. He has a bachelor’s degree in finance from Thailand’s Kasetsart University. For two years after graduation, he worked as an assistant to the president of a private company. Then he pivoted to pursue his dream job of being a flight attendant. At that time, he also started his first business, which was a board game cafe. His passion is to apply his experience from past careers, knowledge, and abilities to advise people to understand their finances of life and achieve their financial goals. Worst investment everChatchai has always been very passionate about board games, and when he was in university, he decided to make money out of this hobby. He approached a good friend and asked him to partner with him and open a board game cafe. Chatchai borrowed about $2,000 from his mom to fund the partnership. Chatchai did some market research for a month and found a location near a university that he felt would be perfect for the cafe because he wanted to target students. The first month of business was great, and the students loved the cafe. Schools were then closed for three months, and it was a struggle. When schools reopened, Chatchai had to market the cafe all over again, and it was a struggle for him to keep the business afloat. His business partner had gotten a full-time job, so he wasn’t helping much. After a few months, Chatchai’s business partner suggested closing the business because they were making losses. Chatchai agreed, albeit reluctantly. Lessons learnedDo thorough market research to understand the market first before you launch your business. Have a shareholder’s agreement, especially when partnering with friends. Andrew’s takeawaysThere’s nothing wrong with writing down a shareholder’s agreement between partners and agreeing upon what to do should something happen to one of the partners, as well as your plan for your shares. When opening a retail business, choose your location wisely because it could make or break your business. Actionable adviceBefore you make any investment, you need to spend enough time studying the market because you won’t run a successful business without that knowledge. No. 1 goal for the next 12 monthsChatchai’s number one goal for the next 12 months is to use his knowledge to educate and encourage other entrepreneurs. Parting words  “Learn from our worst investment mistakes, and you’re going to be better.”Chatchai Unrasmeewong  [spp-transcript]   Connect with Chatchai Unrasmeewonghttps://www.linkedin.com/in/chatchai-unrasmeewong-5956951a8/ (LinkedIn) https://www.facebook.com/finlabthailand (Facebook) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online...
Oct 12, 2021
James Neilson-Watt – Best Lessons Come From Others People’s Mistakes
25:13
BIO: James Neilson-Watt is the CEO of Patients & Profit, which teaches health professionals how to run successful businesses to create more impact. STORY: James suffered from chronic panic and anxiety attacks, and for years he allowed this to hold his life back. Eventually, he decided to face his fears head-on and has been on a journey of healing since. LEARNING: Learn from people’s mistakes. Find good mentors to guide you.   “Things that you have no control over will always happen. But suffering is optional.”James Neilson-Watt  Guest profilehttps://www.linkedin.com/in/jamesneilsonwatt/ (James Neilson-Watt) is the CEO of https://www.jamesneilsonwatt.com/home (Patients & Profit), which teaches health professionals how to run successful businesses, so they create more impact. James is also the author of “https://www.practicemasterymethod.com/launch-page-1-460401911611004033564 (Healthcare Business Secrets-A step by step guide to growing a wildly successful healthcare business).” He is a health Professional himself, having practiced in and run his own healthcare business for a number of years before transitioning into the coaching space. James has been featured in Yahoo Finance, LA Weekly, NY Weekly, and other publications and has worked with hundreds of healthcare business owners in over 15 countries, helping them increase their revenue by over $20,000,000 per year collectively and helping 10’s of thousands of patients in the process. Worst investment everJames suffered from chronic panic and anxiety attacks for over 20 years. He would experience crippling terror that held him back from living life to the fullest. It wasn’t until James let go and decided to face his fears that he could wade his way out of it. It hasn’t been an easy journey, but he did it. Lessons learnedThe only way to get from where you are to where you want to be is to find people who have done it and learn from their mistakes. Find good mentors that can guide you and learn from them. Actionable adviceIf you’re feeling depressed, take time to be curious and think what a non-depressed version of you would want to be. What decisions would you make? What beliefs would you hold? Think more about that to bring positivity to your life. No. 1 goal for the next 12 monthsJames’s number one goal for the next 12 months is to triple our client volume in our business Parting words  “You have more control than you think you do. We all can achieve more, but it’s our choice as to whether we will. So go and be resourceful.”James Neilson-Watt  [spp-transcript]   Connect with James Neilson-Watthttps://www.linkedin.com/in/jamesneilsonwatt/ (LinkedIn) https://www.facebook.com/jneilsonwatt (Facebook) https://www.youtube.com/c/jamesneilsonwatt (YouTube) https://podcasts.apple.com/us/podcast/the-james-neilson-watt-show/id1540594108 (Podcast) https://www.practicemasterymethod.com/launch-page-1-460401911611004033564 (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn)...
Oct 10, 2021
Tim Hyde – Don’t Conform to People’s Expectations of You
19:02
BIO: Tim Hyde is a fixer, a business growth strategist, an Infusionsoft Certified Partner, and is Australia’s leading authority in sales and marketing automation for small businesses. STORY: Tim regrets spending years trying to live up to what he thought were other people’s expectations of him instead of living the kind of life he wanted. LEARNING: Stop trying to conform to other people’s expectations. People don’t think of you as much as you think they do.   “Who is the person you really want to be, and are you being true to that or just being who you think people want you to be?”Tim Hyde  Guest profilehttps://www.linkedin.com/in/tim-hyde-marketing-automation-and-crm-expert-canberra/ (Tim Hyde) is a fixer, a business growth strategist, an Infusionsoft Certified Partner, and is Australia’s leading authority in sales and marketing automation for small businesses. He works with business owners on their sales and marketing strategy, with a particular focus on optimizing their sales lifecycle and marketing automation. He provides the advice, support, and tools his clients need so that their business gives them more time, money, and freedom. Worst investment everTim spent a lot of his teenage years building sales enterprises and other side businesses. However, he still went down the familial path of expectation that when he finished college, he’d go to university and then get himself a job. No matter how much Tim succeeded with his enterprises, he kept falling back to this expectation of who he should be, rather than being true to himself. He believes his worst investment ever is the years he spent at university trying to meet the expectations he thought other people had of him. Lessons learnedStop trying to conform to other people’s expectations because you end up losing opportunities to explore and express who you are and the impact you have. Do what feels right to you, not what you think other people want you to do, and you’ll be happier. Andrew’s takeawaysIf you want to get something, you have to take a risk. You won’t go far if you stay in your safety net. We imagine all kinds of things of what other people think of us, and the reality is that that’s all in our mind because people are thinking a lot less of us than we think they are. Actionable adviceWhen you look at yourself in the mirror every single morning, ask yourself who is the person you really want to be and if you’re true to that. Then ask yourself if those are your expectations of yourself or your perceptions of what you think other people expect from you. Secondly, look at how you project your expectations on others and ask yourself if it’s your expectation of what you want for them or you’re enabling them to be the best that they can be. No. 1 goal for the next 12 monthsTim’s number one goal for the next 12 months is to enable other people to be their best now through his business and help people build more resilient and effective businesses. Parting words  “Take advantage of the resources around you to live your best life and leave a legacy.”Tim Hyde  [spp-transcript]   Connect with Tim Hydehttps://www.linkedin.com/in/tim-hyde-marketing-automation-and-crm-expert-canberra/ (LinkedIn) https://twitter.com/GF_Partners (Twitter) https://winmoreclients.com.au/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously...
Oct 07, 2021
Jenny Wilde – Embrace Complexity in Innovation
30:35
BIO: Jenny Wilde has over 15 years of hands-on experience as a senior manager in humanitarian response and an innovation expert. STORY: Jenny saw the need to set up an Innovation Fund to support innovative ideas to make their emergency response easier and more effective. Unfortunately, company politics took over, and the fund was scrapped off. LEARNING: Embrace complexity when dealing with innovation.   “Different problems in different innovations require different tools and methodologies.”Jenny Wilde  Guest profilehttps://www.linkedin.com/in/jennifer-wilde-bbb05867/ (Jenny Wilde) has over 15 years of hands-on experience as a senior manager in humanitarian response and an innovation expert. She has supported innovative organizations and initiatives in countries as diverse as the USA, South Sudan, and Nepal. She has pioneered initiatives that break from conventional innovation models and enable global scale. Worst investment everJenny was the operational director of emergency response in the Philippines, responding to a large typhoon, Typhoon Haiyan, that had ripped through the country’s center. Everyone was trying to make decisions and get stuff out of the door without a lot of deeper thinking. Jenny thought that her organization needed an innovation fund that would help bring to light any innovative ideas that would make their work easier. So they got the money and a team together and set up the fund. Within no time, the fund got political, with everyone wanting to take credit for the idea while, in reality, doing nothing. It was stressful for Jenny because she was heavily invested in the idea. Essentially the Innovation Fund got scrapped because of politics. Lessons learnedYou’ve got to simplify the problem. Make it as simple as possible, and then work with it. When you’re innovating around complex problems, you need to step back and take in all that complexity to do transformational shifts. Andrew’s takeawaysEmbrace complexity because there will be problems that you need to solve that are very complex. Think about the balance between the long term versus the short term. Which one works best for your current environment? Your idea should fit the company’s culture; otherwise, people will only shoot it down. Actionable adviceIf you want to go big and create something that’s really transformational, you should be using systems innovation and the tools associated with that. Don’t harm yourself with small ideas and small innovation traps. No. 1 goal for the next 12 monthsJenny’s number one goal for the next 12 months is to help people create big shifts in their industries. Parting words  “Thanks, and good luck on the next investment.”Jenny Wilde  [spp-transcript]   Connect with Jenny Wildehttps://www.linkedin.com/in/jennifer-wilde-bbb05867/ (LinkedIn) https://twitter.com/Inno_ecosystem (Twitter) https://www.innovationecosystem.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook)...
Oct 05, 2021
Chris Franzen – Only Play in a Field That You Really Understand
17:31
BIO: Chris Franzen has been a hotelier for over two decades, having worked in the US, Europe, Middle East, and Asia. STORY: Chris saw an advert during the football World Cup a few years ago for a company he was unfamiliar with. He was intrigued by this unknown company that could afford to advertise in the World Cup. He did a bit of research and decided to invest in it. The stock went up for a few days but later plummeted to a point the company folded, and Chris lost his entire investment. LEARNING: Invest in industries you’re familiar with. Do thorough research before you invest.   “When picking stocks, pick those in industries that you understand well.”Chris Franzen  Guest profilehttps://www.linkedin.com/in/chrisfranzen/ (Chris Franzen) has been a hotelier for over two decades, having worked in the US, Europe, Middle East, and Asia. He learned his trade from the ground up as a chef before rising through the ranks and being appointed Area Vice President with Hyatt Hotels. In July 2021, Chris opened his own company, advising operators and owners in the field of luxury hospitality. Worst investment everChris was watching the football World Cup a couple of years ago when he noticed this unfamiliar energy company whose ads would keep popping up every now and then. Seeing as the unknown company was paying millions to advertise at such a high-level stage, Chris imagined that it must be a reliable company. So after a few days, he decided to do some basic investigation and found out it was a Chinese green energy company dealing with solar panels. It was one of the biggest solar panel producers and had unsigned contracts in the pipeline all over Asia. Chris thought this must be an excellent investment, especially because the stock was marked as undervalued. He went ahead and bought stocks worth several thousands of dollars. About two, three days later, the stock rose, and it was a fantastic investment. After that, Chris didn’t pay much attention for the next few weeks. Suddenly, the stock plummeted day after day. Chris is not a panic seller, so he held onto the stock and waited for it to recover. But unfortunately, for this stock, it kept going down and never recovered. In fact, after about nine months from the day he bought the stock, the company ceased to exist, and he lost all the money he had invested. This remains his worst investment ever. Lessons learnedYou have to scrutinize what you invest in thoroughly. What security do you have if the company defaults? Do thorough research of companies that you want to invest in more so if they are new. Andrew’s takeawaysJust because a company can afford to be out there doesn’t mean anything. Big companies can fail, and sometimes they can fail fast. If you invest in the overall stock market, it’s going to go down at times, but it’s going to recover. But with individual stocks, some of them can go down and never recover. Actionable adviceInvest only in companies that are in industries that you understand really well. No. 1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to ensure his new company gets a decent foothold and build a good reputation. He also hopes that COVID will finally be over sooner or later so people can go back to traveling and enjoying themselves.   [spp-transcript]   Connect with Chris Franzenhttps://www.linkedin.com/in/chrisfranzen/ (LinkedIn) https://ckfranzen.com/social-%26-blog (Blog) https://ckfranzen.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class)...
Oct 03, 2021
Daniel Chan – Don’t Sell What You Have to Diversify
22:19
BIO: Daniel Chan is a pre-IPO PayPal financial operations employee who became a magician, and now he’s pivoted to Zoom. He has performed over 390 virtual shows since last year. STORY: As one of the first employees of PayPal, Daniel was granted about 10,000 stock options. When he left the company, he dumped his stocks for a more diversified portfolio. Daniel would have been worth close to $5 million if he had kept everything, but he bought many other things that didn’t earn him that much. LEARNING: Invest in things that you buy and use regularly. Diversifying doesn’t mean selling what you have; it means putting additional money into something else.   “Learn how to read the income statement, understand profit and loss, debt-to-equity ratios, and P/E ratios.”Daniel Chan  Guest profilehttps://www.linkedin.com/in/danchanmagic/ (Daniel Chan) is a pre-IPO PayPal financial operations employee who became a magician, and now he’s pivoted to Zoom. He has performed over 390 virtual shows since last year. What’s cool is that he has invested in most of the companies that have hired him. Daniel’s clients are literally a who’s who from “A” to “Z.” He has performed for Apple and Airbnb all the way to Zillo. And Google has hired him over 40 times. Worst investment everWhen Daniel was working at PayPal, he was granted about 10,000 stock options with a four-year vest and had to stay at least a year. He stayed for over a year. However, when he left, he pretty much dumped his stocks for a more diversified portfolio. From Daniel’s calculation, he would have been worth close to $5 million if he had kept everything, but he bought many other things that didn’t earn him that much. Lessons learnedDiversify, and when you’re sure about particular stocks, put in a little more into those. Invest in things that you buy and use regularly. Don’t put all your eggs in one basket. Andrew’s takeawaysDiversifying doesn’t mean selling what you have; it means putting additional money into something else. Just because you use a product and believe in the company’s stock doesn’t mean you should put all your money into it. Make sure you diversify. Actionable adviceWhen looking for stocks to invest in, look at things around you that you’re familiar with. Then when you find a few companies that interest you look at the bottom line. Learn how to read the income statement, understand profit and loss, debt-to-equity ratios, and P/E ratios. No. 1 goal for the next 12 monthsDaniel’s number one goal for the next 12 months is to find investors for a magic dinner show and a club in Silicon Valley.   [spp-transcript]   Connect with Daniel Chanhttps://www.linkedin.com/in/danchanmagic/ (LinkedIn) https://www.facebook.com/danchanmagic (Facebook) https://www.youtube.com/channel/UCrmjnFLZ_TnSz3u8TSHG2kQ (Youtube) https://twitter.com/danchanmagic (Twitter) https://medium.pronthego.com/dan-chan-the-millionaires-mentalist-this-is-how-i-brought-my-business-in-the-media-6d123e29cdaf (Blog) https://millionairesmentalist.com/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/...
Sep 30, 2021
Jacob Roig – You Can’t Neglect Your Way Out of Problems
27:57
BIO: Jacob Roig specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there. STORY: Jacob sold his business and invested in single-family homes. This turned out well for him, but he got convinced to invest in apartment buildings at some point. Jacob didn’t have the time to manage the apartments, and so when the 2008 real estate crash happened, he lost everything, including his over $2 million net worth, and had to file for bankruptcy. LEARNING: Own up to your challenges and seek the help that you need. You don’t need to have a solution; you just need to be willing to try to get back on your feet.   “It seems easier not to take a step, but it is so much more painful to stay where you’re at.”Jacob Roig  Guest profilehttps://www.linkedin.com/in/jacobroig/ (Jacob Roig) specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there. Jacob is a certified business coach, certified firewalk instructor and besides coaching leaders, runs live events that routinely do the impossible, like getting you to walk over broken glass and burning coals. He’s mastered overcoming fears and limitations all of his life. Jacob knows how to face life and business challenges and now teaches and coaches others along the way. Worst investment everJacob decided to become an entrepreneur after working a corporate job for 12 years. In his first 10 months in business, he did $1.2 million in sales. Along the way, he had to learn how to manage projects as well as people. That led him to fulfill his five-year goal in the first year. Being a creative and a driven person, after three years in that business, Jacob was ready to do something different. He sold the business and invested in real estate. He bought single-family homes, and they were working well. One day he went to a seminar and was convinced to buy apartment buildings. One thing he overlooked was how much work he had to put in to manage the apartments. Jacob didn’t have the time to do what was required, so he got into a situation which he ignored and just hoped that the problem would go away without him doing anything. In 2008, the real estate crash happened, and Jacob’s problems with the apartments just got worse. In 2009, he had to file for bankruptcy and lost everything, including his $2 million net worth. Lessons learnedYou may lose your wealth, but you can never lose your knowledge and your ability to get back on your feet as long as you’re willing to try. You don’t have to know what exactly to do; you just need to be willing to try and then take one step. Do what it takes to get the help you need. Holding back will not do you any good. Andrew’s takeawaysYou can’t neglect your way out of the problem; it doesn’t go away if you don’t deal with it. When you’re going through problems and challenges, you have two choices; to face it now or put it off and face it later. If you put it off for later, it will eventually come, so face it now. Actionable adviceIt seems easier not to take a step, but it is so much more painful to stay where you’re at. Any action or step that you take and just the fact that you’re taking this step is a good start. No. 1 goal for the next 12 monthsJacob’s number one goal for the next 12 months is to scale his third seven-figure business. Parting words  “Don’t let go of your dream; pursue it and seek the help that you require.”Jacob Roig  [spp-transcript]   Connect with Jacob Roighttps://www.linkedin.com/in/jacobroig/ (LinkedIn)...
Sep 28, 2021
Axel Meierhoefer – Never Get Involved in Anything You Don’t Understand
34:45
BIO: Axel Meierhoefer was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession. STORY: Axel blindly invested in penny stocks in the late 90s. He knew nothing about penny stocks at the time, and he ended up losing $75,000 after the market fell suddenly. LEARNING: Never get involved in anything that you don’t understand. Understand how company P/E ratios work and how they affect a stock.   “If it’s initially interesting, I’ll first go into research until I’m satisfied I understand it well enough to commit money to it.”Axel Meierhoefer  Guest profilehttps://www.linkedin.com/company/ideal-wealth-grower/ (Axel Meierhoefer) was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession. Now, experiencing financial freedom, he wants to share his secrets and life lessons with us. You can find him on his https://www.youtube.com/channel/UCvZRy6092XyFWW9bhCbIt4Q (Ideal Wealth Grower YouTube Channel). Worst investment everIn the late 90s, Axel was appointed the program manager for this new German Flight Training Center in the US. While at the center, the media kept constantly drumming on how necessary it was for everybody to be in the stock market. It was going on and on about the Dot-com boom that would change everything. At the time, neither Axel nor most other people he was with had any idea what a blue-chip stock or a penny stock was. But one thing that was the real fascination, initially for him, was that it didn’t take a rich person to start participating because the penny stocks were relatively cheap, well below $1 apiece. So you could buy like several thousand without investing a substantial amount. He figured if it’s not a considerable number, it won’t make a difference, so he bought a bunch of stocks. In just a few months, the stocks gained, and some of Axel’s friends cashed in their stocks, but he decided to hold onto his stocks. Unfortunately, the stock’s value plummeted as fast as it had gained. Axel ended up losing $75,000. Lessons learnedDon’t get involved in anything that you don’t understand. Learn how to differentiate between companies with reasonable valuation ratios and those that are just hype. Andrew’s takeawaysYou can never know the future, but you can know the present if you do your research well. If you know where you are, it can help you think about what you want to do. Actionable adviceDon’t be greedy. If you have been lucky enough to follow your principles and follow your purpose, and things have worked out well, there is nothing wrong with taking something off the table and putting it into something that still has all this potential ahead of it. No. 1 goal for the next 12 monthsAxel’s number one goal for the next 12 months is to grow his real estate property portfolio by another two or three properties. Parting words  “Anybody can be an investor.”Axel Meierhoefer  [spp-transcript]   Connect with Axel Meierhoeferhttps://www.linkedin.com/company/ideal-wealth-grower/ (LinkedIn) https://www.facebook.com/idealwealthgrower/ (Facebook) https://www.youtube.com/channel/UCvZRy6092XyFWW9bhCbIt4Q (Youtube) https://twitter.com/IdealGrower (Twitter) https://idealwealthgrower.com/blog/ (Blog) https://idealwealthgrower.com/free/ (Free book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start...
Sep 26, 2021
Andre Hsu – Trust Your Partner before Investing in Their Idea
34:39
BIO: Andre Hsu is a thinker and business strategist based in Singapore. He is the author of three books about qualities, mindsets, and frameworks relevant to business, which he observed in several business tycoons who left a deep and lasting impact on his life. STORY: Andre partnered with a software company with an excellent business idea, but the partners were poor in managing the company and selling the product, so it failed. Andre lost his entire investment. LEARNING: Research the people who own a business as much as you research the business.   “No matter how great the idea is, you’ll not succeed if you cannot trust your partner.”Andre Hsu  Guest profilehttps://www.linkedin.com/in/andrehsujs/ (Andre Hsu) is a thinker and business strategist based in Singapore. He started his entrepreneurial journey at 17, working on a real estate project while juggling three academic degrees completed concurrently in Australia. He is the author of three books about qualities, mindsets, and frameworks that are relevant for business which he observed in several business tycoons who left a deep and lasting impact on his life. Andre likes to use multiple techniques to read, predict people, assess situations, and formulate strategies that are suitable for properties and negotiations, deal structuring related to the assets. He likes to educate, share knowledge, insights, and reasoning of strategies to business associates who then proceed to implement them. He looks forward to doing this with people who share similar values and visions. Worst investment everAfter finishing university, Andre went into the family business, and after a while, he decided to venture into his own business pursuits. He got involved in a small software company that was dealing with Point-of-Service systems. At the time, this was a very lucrative business because not many companies were using POS systems. Andre was, therefore, happy to partner with the company and invest in this venture. The mistake Andre made was investing in people who didn’t take the business part of the venture seriously. They only created a good product, but they never invested in sales or management, so the product never really took off. Lessons learnedYou need to research the people who own a business as much as you research the business. Andrew’s takeawaysWhen investing in a startup, you need to look for trust, a good idea, the ability to execute the idea, and capital. Actionable adviceIf you cannot trust the person you want to partner with, forget the idea. No matter how great the idea is, you’ll not succeed if you cannot trust your partner. No. 1 goal for the next 12 monthsAndre Hsu’s number one goal for the next 12 months is to step back from the business and have his partners run it to have more time to do strategic thinking and come up with new ideas.   [spp-transcript]   Connect with Andre Hsuhttps://www.linkedin.com/in/andrehsujs/ (LinkedIn) https://amzn.to/3nNgf64 (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn)...
Sep 23, 2021
Manish Kumar Tyagi – Never Blindly Trust Anybody with Your Money
23:08
BIO: Manish Kumar Tyagi used to be a Commander in the Indian Navy before he decided to become a standup comic sometime in 2014 and goes by the name “The Knotty Commander.” STORY: Manish relied upon his investment agent to invest his money. The agent invested in several options that lost him money over and over. LEARNING: Don’t blindly trust anybody with your money. Don’t rely on one investment agent.   “Don’t be a blind investor; read a little about investing.”Manish Kumar Tyagi  Guest profilehttps://www.linkedin.com/in/commander-manish-k-tyagi-retd-b9b8885/ (Manish Kumar Tyagi) used to be a Commander in the Indian Navy before he decided to become a standup comic sometime in 2014 and goes by the name “The Knotty Commander.” An Officer and a Gentleman, he has some very funny tales to tell from his life experience. His style is full of unprecedented stories blended with wit and humor. His https://web.facebook.com/KnottyCommander?_rdc=1&_rdr (Facebook page) and https://www.youtube.com/channel/UCdN3I8B8iZUOHJVZVGWlyEg (YouTube) channel have over a quarter-million followers, with multiple videos having over 3 million organic viewers. He has performed across multiple cities in India and overseas. As a Motivational Speaker, he has also spoken at Josh Talks, 14 TEDx conclaves and is also a regular with corporate assignments. Worst investment everWhen Manish quit the army in 2012, he got his retirement benefits and invested in real estate. The market took a downturn, and Manish lost about 25% of his investment. He took what remained and invested it in a mutual fund, and it was doing well until the pandemic hit in 2020. One morning, Manish learned that Franklin Templeton had frozen six of their funds, and he had quite a substantial amount there. He spoke to his agent, who assured him that everything was going to bounce back. He told him that he would reshuffle his portfolio, but Manish wanted a long-term plan because he had money in another fund he didn’t want to lose. Manish asked to have his money back and kept it in the bank. In the process, he lost 15% of his investment, but at this point, all he wanted was to see his money in the bank. A friend then advised him to buy gold which he did. Then he purchased gold bonds to diversify his portfolio. The price of gold went down 30%. Manish’s greatest regret is leaving his money at the hands of his agent and taking blind advice from friends. He never took the time to understand the investments his agent was putting his money in. Lessons learnedDon’t blindly trust anybody with your money. You need to keep reading up about whatever you invest your money in. Don’t put all your eggs in the same basket. When engaging an investment agent, always get a second opinion. Andrew’s takeawaysAlways know that there’s a lot of volatility in the stock market. Our emotions are really against us when it comes to the stock market. There are many investment instruments today where an amateur who knows nothing and doesn’t want to spend all their time doing the market research can invest in. Actionable adviceDon’t be a blind investor; read a little about it, speak to people, and keep checking on your investments from time to time and see how the market is doing. No. 1 goal for the next 12 monthsManish’s number one goal for the next 12 months is to consolidate his investments and wait for the opportunity to re-enter the market. Parting words  “At this point in time, stay low. Stay safe.”Manish Kumar Tyagi  [spp-transcript]   Connect with Manish Kumar Tyagihttps://www.linkedin.com/in/commander-manish-k-tyagi-retd-b9b8885/ (LinkedIn) https://www.facebook.com/KnottyCommander (Facebook) https://www.youtube.com/channel/UCdN3I8B8iZUOHJVZVGWlyEg (Youtube) https://twitter.com/KnottyCommander (Twitter) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever)...
Sep 21, 2021
Johnny Widodo – Everything Great in Life Follows a Process
20:33
BIO: Johnny Widodo is CEO in an automotive startup space with over 16 years of experience across multiple industries and geographies. STORY: Johnny saw a colleague who was making crazy money trading stocks daily. Johnny decided to do what his colleague was doing and ended up losing about $30,000. LEARNING: Learn and do your research to understand the investment first before you sign off on it. The game of investing is about how much you have at the end of the game.   “There is no instant thing in life. Everything follows a process.”Johnny Widodo  Guest profilehttps://www.linkedin.com/in/johnnywidodo (Johnny Widodo) is CEO in an automotive startup space with over 16 years of experience across multiple industries and geographies. He is active as a global speaker, advisory board member, and mentor in various organizations. He is co-author of 2 books and has published his biography. In his free time, he is passionate about weightlifting and hosts the https://www.youtube.com/c/JTalkPodcast (J-Talk Podcast). Worst investment everWhen Johhny just started working, he had this former schoolmate and colleague who sat beside him at work. The colleague would just play his stocks, and Johnny could literally see him making hundreds, even $1,000 every day. This all seemed too easy, and obviously, he was interested in making such amounts of money so quickly. Johnny started to pump all the money he made into the same stocks as his colleague. As soon as he began trading, the market collapsed, and he lost 95% of his investment, a total of about $30,000. Lessons learnedThere is no instant thing in life. Everything follows a process. When it comes to investing, it’s not about monkey see monkey do. Learn and do your research so that you understand the investment first before you sign off on it. Things happen. You can dwell over it, but not too long. Move on, take the lessons learned, and make sure you don’t fall into the same trap again. Make as many mistakes as possible when you’re young. This is when you can afford to lose everything. Investing in stocks is beyond your control because a lot of things are being impacted by the markets and speculations. Andrew’s takeawaysWhen you see someone winning in the stock market, keep in mind that people only talk about their winners, not their losses. The game of investing is about how much you have at the end of the game. It’s not how much you have this year or next year. It’s the money you have at the end of the game that makes your investment a success. Actionable adviceIf you have some money that you can afford to lose, put it out and play. But before you play, you have to do a lot of research on what you are going to invest in to balance your risks. No. 1 goal for the next 12 monthsJohnny’s number one goal for the next 12 months is to build the largest automotive ecosystem in Indonesia. He is also trying to deadlift six plates of like 260 kg. He’s currently doing 230 kg. Parting words  “Be responsible for your life. It’s okay to make mistakes, to make your worst investment but just make sure you learn and move on and win the game.”Johnny Widodo  [spp-transcript]   Connect with Johnny Widodohttps://www.linkedin.com/in/johnnywidodo/ (LinkedIn) https://www.youtube.com/c/JTalkPodcast (Youtube) https://twitter.com/johnnywidodo (Twitter) https://www.youtube.com/c/JTalkPodcast (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market)...
Sep 19, 2021
Randy Mortensen – Past Success Doesn’t Guarantee Future Success
23:08
BIO: Randy Mortensen guides talented individuals whose drive has led them toward destructive behaviors. He facilitates an 8-week cohort, guiding members toward True Significance: Success and Sustainable Living. STORY: Randy was looking for an investment that would bring him huge returns to support his projects in the Caribbean and Africa. He came across the hemp industry, which he had zero experience in, but he was convinced it was the right investment. Randy invested $600,000 and is yet to make much out of it. LEARNING: Don’t be too quick to jump into an investment you’re not familiar with. Succeeding in one investment doesn’t mean you will in another.   “Be a bit slower to jump into the deep end of the pool.”Randy Mortensen  Guest profilehttps://www.linkedin.com/in/randy-mortensen/ (Randy Mortensen) guides talented individuals whose drive has led them toward destructive behaviors. He facilitates an 8-week cohort, guiding members toward True Significance: Success and Sustainable Living. You can have both. Worst investment everRandy wanted to help people in the Caribbean and Africa. He figured if he was going to support those efforts, he should look for a significant investment. Randy was convinced that the hemp industry would be an excellent opportunity for an investment. Randy wasn’t connected well enough to the network of growers and financiers in Canada or the hemp industry in Europe. But he did invest heavily in it. Well, $600,000 later, it’s probably still a good investment, but the returns have been horrible for the last four or five years. Lessons learnedDon’t be too quick to jump into an investment you’re not familiar with. It’s essential to communicate with your spouse and to draw on their common sense. Andrew’s takeawaysYour success in the corporate environment does not necessarily translate into the startup environment. Often, the skills required for the two are different. Confidence from past success will blind you from doing the research you should perform when starting a new company. Actionable adviceDraw on input from others and apply a heavy element of common sense instead of trusting your intuition and instincts. No. 1 goal for the next 12 monthsRandy’s number one goal for the next 12 months is to return to speaking and hold workshops and speak to talented management officials or professionals. Parting words  “If you’re struggling with a compulsive, destructive behavior, don’t wait another day to seek help because there is hope.”Randy Mortensen  [spp-transcript]   Connect with Randy Mortensenhttps://www.linkedin.com/in/randy-mortensen/ (LinkedIn) https://www.facebook.com/execrecoverycoach (Facebook) http://randymortensen.com/?fbclid=IwAR2Lr7MKR-JZrqoNY7Jnx824Nf9BONP68F_yBLYJWZSTsGa0tzqZCRvmOKM (Website) https://courageousrecovery.buzzsprout.com/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)...
Sep 16, 2021
Gil Baumgarten – Concentrate to Get Wealth but Diversify to Keep It
32:31
BIO: Gil Baumgarten is a 36-year veteran of the investment industry. In 2010, Gil made a break from the brokerage world to start Segment, a fully fiduciary firm where the interests of the client and the firm could align. STORY: Gil invested heavily in UBS shares, and when the 2008 financial crisis hit, the stock lost its value and knocked about 80% of the market value of his stocks. LEARNING: Concentration is the key to getting wealthy. Diversification is the key to keeping your wealth. Don’t be too diversified or overly concentrated.   “Wealth is the sum total of all the money you’ve never spent.”Gil Baumgarten  Guest profilehttps://www.linkedin.com/in/gil-baumgarten/ (Gil Baumgarten) is a 36-year veteran of the investment industry. In 2010, Gil made a break from the brokerage world to start https://segmentwm.com/ (Segment), a fully fiduciary firm where the interests of the client and the firm could align. He has since attracted a billion dollars in supervised assets. He is a multi-year recipient of Barron’s Top 1,200 Financial Advisors in America distinction, wherein Gil was ranked in the Top 50 Financial Advisors in Texas. Worst investment everGil decided to accumulate some stock options and use that to retire in his 60s. His plan was to have a couple of million dollars worth of stock and stock options. Gil invested heavily in the UBS stock and was feeling confident about it. Come around 2008/09, not only did the stock market fall apart, but his UBS shares dropped and knocked about 80% of the market value of his stock. He lost well into six figures in a relatively short time. The vast majority of his loss was occurring in his UBS shares. Lessons learnedDon’t get carried away. Be mindful of the risks that you cannot control. Concentration is the key to getting wealthy. Diversification is the key to keeping your wealth. Stop speculating, instead buy an index fund and let it sit if you’re interested in compounding wealth. Andrew’s takeawaysPeople get wealthy by first concentrating their energy on improving themselves through education and/or working with smart people. Second, they find the right way places to allocate their money. Don’t have too much diversification. You want to get exposure, particularly to the stock market, because you need that compounding. But you also don’t want to be overly concentrated. Figure out where you’re going to create the most wealth. Actionable adviceReduce speculative investments. Anything that you’re buying with the anticipation that you’re going to sell to someone else at a later date for more money is speculation, as opposed to buying shares in Coca-Cola or American Express, or any other well-established business. No. 1 goal for the next 12 monthsGil’s number one goal for the next 12 months is to turn readers of his new book https://amzn.to/3E30jCu (FOOLISH: How Investors Get Worked Up and Worked Over by the System) into clients.   [spp-transcript]   Connect with Gil Baumgartenhttps://www.linkedin.com/in/gil-baumgarten/ (LinkedIn) https://www.facebook.com/SegmentWealthManagement (Facebook) https://segmentwm.com/blog/ (Website) https://amzn.to/3E30jCu (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence)...
Sep 14, 2021
Meridith Elliott Powell – Do What Is Right for You Not What Society Wants You to Do
27:56
BIO: Meridith Elliott Powell is passionate about helping her clients learn the strategies to turn uncertainty into a competitive advantage. STORY: Meredith met her husband at 21, and they got married soon after. She spent close to 17 years trying to save her husband from countless brushes with death, arrests, and bankruptcies. LEARNING: Have the courage to do what is right for you, not what you think society wants you to do. You can’t fix things you can’t control.   “Surround yourself with the right people. People whose values you admire and who won’t judge you or tell you what to do. They just love you and support you.”Meridith Elliott Powell  Guest profileVoted one of the top 15 Business Growth Experts To Watch, Top 41 Motivational Speakers, and Top Sales Expert on LinkedIn, https://www.linkedin.com/in/meridithelliottpowell/ (Meridith Elliott Powell) is passionate about helping her clients learn the strategies to turn uncertainty into a competitive advantage. She is the author of six books, including her latest https://meridithelliottpowell.com/product/thrive-turning-uncertainty-to-competitive-advantage/ (THRIVE: Turning Uncertainty To Competitive Advantage). Worst investment everMeridith’s father died of alcoholism when she was just 21 years old. It was at this point that she met her future husband. They quickly got married, and the marriage turned out to be her worst investment ever. Meridith stayed tied to her husband through countless brushes with death, arrests, and bankruptcies until he died when he was 41 and she was 38. Meridith wasted some of the good and best years of her life trying to save someone that had zero desire to be saved. Lessons learnedhttps://myworstinvestmentever.com/ep280-wes-schaeffer-do-your-research-and-trust-your-gut/ (Trust your gut), not your head. Have the courage to do what is right for you, not what you think society wants you to do. Have the courage to live your life and to live your voice. You can’t fix things you can’t control. Andrew’s takeawaysYou can only help someone who wants to be helped. Actionable adviceFind your voice. Spend time figuring out what kind of life you want to lead. Then ask yourself what is preventing you from getting that life, and what are you doing right to get that life. No. 1 goal for the next 12 monthsMeridith’s number one goal for the next 12 months is to help people start to view what life throws at them as an opportunity rather than a negative.   [spp-transcript]   Connect with Meridith Elliott Powellhttps://www.linkedin.com/in/meridithelliottpowell/ (LinkedIn) https://twitter.com/meridithpowell (Twitter) https://www.facebook.com/MeridithElliotPowell/ (Facebook) https://www.youtube.com/channel/UCai7OA66_YtsM6N6l3LL9T (YouTube) https://meridithelliottpowell.com/ (Website) https://meridithelliottpowell.com/product/thrive-turning-uncertainty-to-competitive-advantage/ (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook)...
Sep 12, 2021
Furqan Aziz – Validate Every Idea You Invest Time In
29:57
BIO: Furqan Aziz is the CEO of InvoZone, a software development company that specializes in resource augmentation. STORY: Furqan took on a client who promised to pay him in the form of shares to develop what seemed like an excellent product for airlines. Unfortunately, COVID hit, and the product never saw the light of day. Needless to say, all the time, money, and resources Furqan invested in developing the product went down the drain. LEARNING: Do thorough research to validate every idea before you invest in it. Size your position; invest just a little if the investment idea is high risk.   “Fail fast, and don’t keep sporting your mistake by making another mistake.”Furqan Aziz  Guest profilehttps://www.linkedin.com/in/furqan-aziz/ (Furqan Aziz) is the CEO of InvoZone, a software development company that specializes in resource augmentation. He has over 10 years of experience in the IT industry and specializes in architecting concurrent, distributed, fault-tolerant, scalable applications. Worst investment everIn 2018, Furqan met with a client whose background was very solid. They were providing big software to airline companies. The client came to Furqan with a great idea. They had a lot of data from the airlines they worked with, and they wanted to build a big data product where they would utilize that data and give some analytics to the decision-makers. The idea was to pitch these to the airline industry decision-makers and have them buy the product. The idea had the potential to make a lot of money for Furqan and the client. The catch, however, was that the client could not pay Furqan for any services rendered but offered him shares in their company. Usually, Furqan would never get into such a deal. But because the company had an excellent background and the idea was also exciting, he decided to take the risk. Furqan started the development, and after six months or so, they prepared their proof of concept and then demonstrated it to the airline decision-makers, and they were okay-ish at that moment. But they asked for more features to make the product useful. Furqan sat down with the client and talked about these extra features, and they agreed to add them. Again, Furqan spent six more months and made the additions. They went back to the airline companies, but again, they asked for more features. Furqan spent three more months, and before they could go back to the airlines, COVID hit. Now the product was a waste. All the money, time, and resources Furqan invested went to waste. Lessons learnedIf you’re going to ask someone to put money into your solution, you must make it a lot better than what they already have. Don’t deviate from whatever you are doing as a core business unless you’re really sure about the new thing you want to delve into. Remember that chances of failure are pretty high. Don’t set your expectations too high even if you’re very successful in your core business because your core business is pretty different from whatever you will do. Do the market research by yourself rather than relying on someone else, especially the person selling the idea to you. Fail fast, and don’t keep sporting your mistake by making another mistake. Walk away as soon as you realize that this is not going to work. Don’t wait for the golden moment. If things are not working well, just cash out whatever you can because acquisitions are not always bad; sometimes, they are good for you. Andrew’s takeawaysIn life and business, there are all kinds of risks you can face. Your goal is to try to reduce those risks, but you can never reduce them completely. Don’t just look at the upside; you always have to look at different downsides too. Size your position. If you know that you’re taking a big risk by doing something that you don’t normally do, put about only 5% of your resources into it, and then slowly build up. Actionable adviceYou must...
Sep 09, 2021
Nada Lena Nasserdeen – Rise Up For You
15:00
BIO: Nada Lena Nasserdeen is transforming companies and individuals with people, emotional, and communication skills. STORY: Lena Dena was a high-flying executive, but she gave it all up for a marriage that lasted just two weeks. LEARNING: Focus more on the inner and not the outer things that make you who you are.   “Everything you need is already inside of you; you just have to rise up for you and do it.”Nada Lena Nasserdeen  Guest profilehttps://www.linkedin.com/in/nadalena/ (Nada Lena Nasserdeen) is transforming companies and individuals with people, emotional, and communication skills. She is a TEDx speaker, best-selling author, a corporate trainer, a leadership and confidence coach, and the founder of https://www.riseupforyou.com/companygrowth (Rise Up For You). Worst investment everNada Lena was a successful executive at 28 years old, living the best life. She had everything you imagine to be a success. From a luxury car, house on the lake, boats, and kayaks to all kinds of stuff. Then she decided to spend all her energy and time building a relationship. She resigned from her company, sold everything, pulled out her 401k, and moved out of the country to get married. After two weeks of being married, Nada Lena’s husband decided that he wanted a divorce. She went from a high functioning executive with six figures, a house, and all this stuff successful people have to two luggage and $100. No car, no house, no job. She had invested a lot of time, energy, and resources to make this shift happen. Unfortunately, it just didn’t work out. Nada Lena had to rebuild herself up again from zero. Lessons learnedLife is more about the inner skills that help us become successful, not technical or outer skills and things that we emphasize. These don’t make you who you are. It’s essential to believe in yourself and feel confident that you’re enough, even when you have it rough. Andrew’s takeawaysIf you can get an education and a strong family bond, that’s already a significant step towards success. Focus on that. Actionable adviceConstantly do a check-in with yourself on all the pillars of life—your self-worth, career, romance, health and fitness, your community, and money. Building a life that you’re proud of is not only about spending all your time, money, energy, and resources in one area but having a very balanced and nurtured environment as a whole human being. So that when one pillar falls, you can still use the other five pillars to pull you back up. No. 1 goal for the next 12 monthsNada Lena’s number one goal for the next 12 months is to invest in a home once the market dips. Parting words  “The greatest tragedy is wasted human potential. I encourage you not to let that be your story.”Nada Lena Nasserdeen  [spp-transcript]   Connect with Nada Lena Nasserdeenhttps://www.linkedin.com/in/nadalena/ (LinkedIn) https://www.instagram.com/riseupforyou/ (Instagram) https://www.facebook.com/RiseUpForYou (Facebook) https://www.riseupforyou.com/companygrowth (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com)...
Sep 07, 2021
Owen O’Malley and Ana Rodríguez – Don’t Lose Control of the Checkbook
39:30
BIO: Owen O’Malley and Ana Rodríguez are business and life partners. They are on a mission to create one million millionaires by 31st December 2050. STORY: Owen invested $25,000 in a business he had no experience running because his friend convinced him to. The company failed, and he lost all the money he had invested. LEARNING: Invest in something that is liquid and is in your control. Take time to ask questions before you buy into an investment idea.   “Keep the money in your control at all times.”Owen O'Malley and Ana Rodríguez  Guest profilehttps://www.linkedin.com/in/owenomalleyshares/ (Owen O’Malley) and https://www.linkedin.com/in/anarodriguezgarciaes/ (Ana Rodríguez) are business and life partners. They are on a mission to create one million millionaires by 31st December 2050. They have helped many people accumulate one million dollars in their online trading accounts, and they have a powerful plan to help you reach one million dollars by just investing 200 per month. They were taught by the most successful investors in the world and have a combined 30 experience in the markets. Worst investment everOwen was once approached by someone he knew and showed him this spectacular business plan. The plan was to set up a factory making security cameras. This was in the early 90s, before CCTV was big. Owen was excited about this project. The two were going to build their own security cameras in a tiny little factory in Donegal and sell them worldwide. Owen’s friend convinced him to invest $25,000, which he didn’t have at the time. He went to the bank, borrowed the money, and gave it to his friend. This was the worst investment he has ever made. The business never panned out. If Owen had done his math right, he would have put that $25,000 in the stock market, and it would be worth multiple millions today. Lessons learnedMake sure you invest in something that is liquid and is in your control. Don’t lose control of the checkbook; keep the money in your control at all times. When you invest in the best companies in the world, you’ll have the best people in the world working for you. Andrew’s takeawayshttps://myworstinvestmentever.com/ep326-jordan-west-you-must-pay-attention-to-cash-flow-when-buying-a-business/ (Small businesses are a trap). If you’re running one, you’re just going to get trapped. You’re rarely going to be able to cash it out, so you just get stuck. If someone comes to you with a sexy idea about investing, take the time to ask the questions. Actionable adviceIf you are going to invest in companies, go to the stock market and invest in the best companies. No. 1 goal for the next 12 monthsOwen and Ana’s number one goal for the next 12 months is to continue opening up investment clubs and give people that safe, supportive space that they can learn and grow within. Parting words  “By living in abundance, we attract abundance for us and for others around us, so it’s safe to be there.”Ana Rodríguez  [spp-transcript]   Connect with Owen O'Malley and Ana Rodríguezhttps://www.linkedin.com/in/owenomalleyshares/ (LinkedIn) Owen O'Malley https://www.linkedin.com/in/anarodriguezgarciaes/ (LinkedIn) Ana Rodríguez https://twitter.com/owenomalley (Twitter) https://www.facebook.com/owen.omalley.750 (Facebook) https://www.ticn.ie/podcasts/ (Podcast) https://ticn.learnupon.com/store (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market)...
Sep 05, 2021
Curt Mercadante – Not Every Home Is an Investment
29:40
BIO: Curt Mercadante specializes in helping business owners deliver the right message to the right clients to generate the right revenue. STORY: Curt grew up knowing that owning a home is an important investment that everyone should have. Over the years, and after a couple of losses, he has learned that a home is not an investment unless you’re planning on flipping it. LEARNING: Don’t just take advice at face value, do your research and get second opinions. Don’t fall for the American Dream fallacy; rent if that’s what you want.   “Remember to apply your greatest weapon—creative thinking—where you think with the end in mind.”Curt Mercadante  Guest profilehttps://www.linkedin.com/in/curtmercadante/ (Curt Mercadante) specializes in helping business owners deliver the right message to the right clients to generate the right revenue. For 23 years, he has counseled small businesses, entrepreneurs, as well as some of the largest corporations and associations in the US. He’s built three profitable businesses, including a 7-figure PR and ad agency. Curt has trained, coached, and delivered keynotes and workshops to clients across the globe. He is a Gallup-Certified Strengths Trainer, a Certified Human Behavior Consultant, host of https://www.theauthoritybrandpodcast.com/ (The Authority Brand podcast), and author of the bestselling book, https://amzn.to/2YdZAxR (Five Pillars of the Freedom Lifestyle). Curt and his wife, Julie, are currently traveling the country with their four children. Worst investment everOver the years, Curt has owned several homes, and he viewed them as investments all along. His financial advisor would often advise him not to look at houses as an investment. Still, because of how he was brought up and the fallacy of the American dream, Curt always believed owning a home was the best investment. After making a couple of losses buying homes, Curt now believes his financial advisor. Lessons learnedOur habits are influenced by our societal conditioning, which can be dangerous. A lot of the security we have is an illusion. Step back, have some discernment and awareness, and start asking yourself why you do what you do—question your conditioning instead of flowing with it. Andrew’s takeawaysDon’t be caught up in the American Dream fallacy. Buying a home is not always the best option; sometimes renting is. Actionable adviceDon’t just take things at face value just because someone you know said it, or someone on TV said it, or some experts somewhere said it. Do your homework and get a second opinion. Also, remember to apply your greatest weapon—creative thinking—where you think with the end in mind. No. 1 goal for the next 12 monthsCurt’s number one goal for the next 12 months is to unleash his creative flow on a regular basis. Parting words  “When the world is burning around you, keep your head above water. Think creatively, and you won’t go wrong.”Curt Mercadante  [spp-transcript]   Connect with Curt Mercadantehttps://www.linkedin.com/in/curtmercadante/ (LinkedIn) https://twitter.com/curtmercadante (Twitter) https://www.curtsblog.com/ (Blog) https://www.theauthoritybrandpodcast.com/ (Podcast) https://amzn.to/2YdZAxR (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your...
Sep 02, 2021
Simon Bedard – Make Your Contracts as Airtight as Possible
20:40
BIO: Simon Bedard is the CEO of Exit Advisory Group, a boutique M&A firm, that also provides a range of advisory services focused on exit strategies and how to maximize company value. STORY: Simon had a client who convinced him to change the terms of their contract. The change worked in Simon’s favor because he made $2 million after delivering his services instead of the low seven-figure he had quoted. Unfortunately, the client now felt this was more than he expected and refused to pay up. LEARNING: Make your contracts airtight enough to cover you during conflicts. A contract is important but doesn’t have to be everything.   “If you don’t understand all the elements of your contracts, then you’ll make decisions on flawed information.”Simon Bedard  Guest profilehttps://www.linkedin.com/in/business-sales-sydney/ (Simon Bedard) is the CEO of Exit Advisory Group, a boutique M&A firm, that also provides a range of advisory services focused on exit strategies and how to maximize company value. Simon’s experience spans over 20 years in the finance, investment, energy, and technology sectors. As an entrepreneur, Simon has started, bought, and exited his own companies. He has also worked for one of Australia’s largest banks as an investment advisor to high-net-worth clients and private companies. Simon’s passion is helping business owners understand where they want to be, then building a business that can get them there. Worst investment everSimon’s company had this particular client that they wanted to work with. The company negotiated a contract and put a standard fee based on the valuation they did. This was a solid seven-figure. The client came back and renegotiated the contract wanting a sliding scale with the aim of getting Simon’s company to push for higher valuations. He told them that this was unnecessary because his firm is motivated and would do the best possible work. But because the company could make more from this deal, Simon accepted their terms. The company went on to deliver more than the client expected. By the time it came to getting the deal done, the valuation was probably 50% higher than the client initially thought. And so, Simon’s fee went from a low seven-figure to over $2 million. Now the client didn’t want to pay. They went down the path of just blatantly making up lies and never paid up. Lessons learnedWhen structuring your contracts, make sure that you include things that you are willing to accept and not accept and make sure it is tight. When getting into a contract, do a basic scenario analysis of good and bad outcomes and how clients are likely to react to certain things. Be wary of making your contracts super tight and aggressive because every deal has different underpinnings. Know what you can afford to give up to keep both parties happy. Andrew’s takeawaysContracts only matter at the point of conflict. So make sure you’re protected from that. A contract is important but doesn’t have to be everything. Things change, and you can always talk, resolve issues, and modify a contract if necessary. Actionable adviceWhatever you invest in, make sure you spend time assessing all the variables and understand where the risk sits. No. 1 goal for the next 12 monthsSimon’s number one goal for the next 12 months is to find good solid advisors and people to join his team and help us have the kind of impact we want to have. Parting words  “Be kind to yourself and to the world. We need more kindness.”Simon Bedard  [spp-transcript]   Connect with Simon Bedardhttps://www.linkedin.com/in/business-sales-sydney/ (LinkedIn) https://www.facebook.com/exitadvisorygroup (Facebook) https://www.youtube.com/channel/UCQ16bg2expmwNDbcHyjWCxw (YouTube) https://exitadvisory.com.au/growth-strategy/ (Blog) https://buybuildsell.com.au/ (Podcast) https://exitadvisory.com.au/ (Website) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in...
Aug 31, 2021
Ali Awad – Accept Low-Risk Payment Methods Only
31:57
BIO: Ali Awad, also known as The CEO Lawyer on social media, is a successful lawyer and entrepreneur. He has a multi-million dollar law firm and media company where he teaches lawyers, doctors, and other professionals how to brand themselves digitally and generate clients through social media. STORY: Ali once delivered an order of car audio worth $25,000 to a newly acquired customer. Out of excitement to make such a huge sale, he made the mistake of accepting postdated checks for payment. The checks bounced, and the customer threatened to shoot him if he ever went near his store again. LEARNING: Only accept risk-free payment methods, especially when dealing with new customers.   “Do whatever you can to make sure that when you get paid, that money cannot be reversed.”Ali Awad  Guest profilehttps://www.linkedin.com/in/ceolawyer/ (Ali Awad), also known as The CEO Lawyer on social media, is a successful lawyer and entrepreneur. He has a multi-million dollar law firm and media company where he teaches lawyers, doctors, and other professionals how to brand themselves digitally and generate clients through social media. Worst investment everAli started a wholesale car audio company when he was 19. Instead of selling online, he decided he’d sell wholesale to other retailers within a 30-mile radius of his hometown of Dalton, Georgia. Ali would drive around to different car audio shops in the area. He quickly realized that most retailers were not going to buy from a 19-year-old. But he didn’t let it deter him. He just kept going and hustled hard. Eventually, Ali landed a significant account in New Orleans, about 500 miles away from where he was located. The retail shop placed an $18,000 order. He drove all the way to New Orleans with his dad and brother to deliver the order. While there, Ali helped them sell the product to a retail customer for like 20 times more than he was charging them. This led them to place a second order was for $25,000. Ali loaded his trailer with car audio and went to deliver the order, but he went by himself this time. Instead of paying him cash, they gave him a stack of postdated checks that he was to deposit about three weeks out. Ali was excited about getting so much money that he didn’t think much about why they were paying him in postdated checks instead of cash as usual. Trouble started when he deposited the first check, and it bounced. The buyer gave him a flimsy excuse. After a while, he deposited the second check, and it bounced too. Ali called the buyer and asked what was going on. Again, he gave him a flimsy excuse. Ali informed him that he would go to the store and get his stuff back because he was done with the lies. The buyer said, “Sure. Why don’t you come over here, and I’ll put a bullet in your head.” And that’s how Ali lost $25,000. Lessons learnedDon’t accept payment if it can bounce or be reversed. Try to business that you can scale without your everyday involvement. Be careful not to jump from one business to the next or to take shortcuts in business. Always skill up no matter where you are in your entrepreneurship journey. Andrew’s takeawaysIf you can, get paid in cash or any other risk-free payment method. Actionable adviceConnect your bank account to your website for payments. And instead of accepting credit cards, make people pay with a direct deposit. Do whatever you can to make sure that when you get paid, that money cannot be reversed. No. 1 goal for the next 12 monthsAli’s number one goal for the next 12 months is to increase his employees to 100 and spend a million dollars on ads a month. He also wants to focus on diversification.   [spp-transcript]   Connect with Ali Awadhttps://www.linkedin.com/in/ceolawyer/ (LinkedIn) https://twitter.com/ceolawyer (Twitter) https://www.facebook.com/realceolawyer (Facebook) https://www.youtube.com/channel/UCozskllS_cusI_DhLPoOXQA (YouTube) https://aliawadlaw.com/blog/ (Website) Andrew’s...
Aug 29, 2021
Kim Kristiansen – Consider the Relevance of What You Devote Yourself To
34:34
BIO: Kim Kristiansen is a Family Physician from Denmark with more than 30 years of clinical experience. He is a peer reviewer for medical journals and a former TEDMED research scholar. STORY: Kim found himself wasting so much time reading research papers that were not relevant to his patients. Now he has learned how to screen papers for clinical relevance. LEARNING: Screen research papers for clinical relevance to avoid wasting your precious time.   “Research analysis it’s not just about reading the paper; it’s also about finding relevance in it.”Kim Kristiansen  Guest profilehttps://www.linkedin.com/in/kim-kristiansen/ (Kim Kristiansen) is a Family Physician from Denmark with more than 30 years of clinical experience. He has researched pain medicine; he is a peer reviewer for medical journals and a former TEDMED research scholar. He is a host at the podcast Precision Evidence. He and his co-host go beyond the abstracts of clinical research papers looking for clinical relevance and precision of the evidence and discuss how to read, analyze and look for pitfalls when reading about results from clinical trials. Finally, he is a co-founder of Zignifica, a company building a system and method to analyze clinical research for precision, relevance, and meaningfulness based on a grading system. Worst investment everAs a practicing physician, Kim often found himself paying interest and spending time reading papers published in medical journals that turned out to be of no clinical relevance or meaningful to his patients. This would see him waste so much of his precious time. He has learned how to analyze research papers for clinical relevance and is helping others do the same. Lessons learnedBe careful about how you spend your time screening for clinical relevance. Don’t waste your time reading something out of your interest and which you cannot relate to. Andrew’s takeawaysAllocate your resources (creativity and energy) to research findings that are worth your time. Dead-ends are part of the research process. When you’re in the field of research, expect to go down blind alleys and investigate a bit, you can never completely get rid of that. Actionable adviceDo your analysis and force yourself to sync up the usefulness of the findings, not just believing that it’s correct because it was in whatever journal it was in. No. 1 goal for the next 12 monthsKim’s number one goal for the next 12 months is to increase the awareness of clinical relevance. Parting words  “Be curious and ask questions about the meaningful relevance of the outcomes.”Kim Kristiansen  [spp-transcript]   Connect with Kim Kristiansenhttps://www.linkedin.com/in/kim-kristiansen/ (LinkedIn) https://twitter.com/KKristiansenMD (Twitter) https://www.precision-evidence.com/blog/ (Blog) https://www.precision-evidence.com/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn) https://www.facebook.com/andrewstotzpage (Facebook) https://www.instagram.com/andstotz/ (Instagram)...
Aug 26, 2021
Dan Solomon – The Time to Start Investing Is Now
26:40
BIO: Dan Solomon is on a mission to help international students and young professionals, especially those in Germany and the Netherlands, gain the right skills to succeed in the job market. STORY: When Dan was studying in Russia, he would receive $500 every month from his scholarship. Dan never invested a single cent of this money for the five years he was in Russia, which regrettably would have grown to a substantial amount had he invested it. LEARNING: Start investing now to gain from compounding interest. Don’t spend your dividends or interest; reinvest it.   “Invest, and don’t take out your gains.”Dan Solomon  Guest profilehttps://www.linkedin.com/in/dansolomonpc/ (Dan Solomon) has a diverse background in engineering, business, and finance with experience across several industries, including banking, consulting, and chemical. He is on a mission to help international students and young professionals, especially those in Germany and the Netherlands, gain the right skills they need to succeed in the job market. He is a strong believer in taking little steps towards making the world a better place. Worst investment everDan spent five years studying in Russia on a scholarship. For those five years, he would receive $500 per month. Dan was a bit flamboyant and spent all that money on things that didn’t really mean anything. He bought stuff he didn’t have to buy. Dan regrets never investing any of this money. Lessons learnedStart investing now. You don’t need to wait until you have x amount of money in your bank account; it’s never going to come. Start now and build that discipline. You need to understand what kind of investment you’re getting into. Why should you invest in an index fund or an ETF, or individual stocks? Most importantly, understand https://myworstinvestmentever.com/blog/hard-lesson-about-compounding-could-have-been-better-with-coke/ (the concept of compound interest). Andrew’s takeawaysBuild your knowledge base because you will suffer from a lack of knowledge. You will not witness an exponential rise in your investment until about year 20. It is, therefore, essential to start investing now. Don’t take out any money you get from your investment to pay bills, instead reinvest it so that you benefit from compounding interest. Actionable adviceStart now. No. 1 goal for the next 12 monthsDan’s number one goal for the next 12 months is to build the https://blisscareer.de/ (Bliss Career) platform to a level where it is self-sustaining to help as many people as possible. He also wants to build the discipline to keep pushing his investment plans and make sure that he stays consistent. Parting words  “Try your best to make sure that every month you take a bit of your money and put it in your investment portfolio.”Dan Solomon  [spp-transcript]   Connect with Dan Solomonhttps://www.linkedin.com/in/dansolomonpc/ (LinkedIn) https://blisscareer.de/ (Website) https://blisscareer.de/podcasts/ (Podcast) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes and How to Avoid Them) https://amzn.to/3emBO8M (Transform Your Business with Dr.Deming’s 14 Points) Andrew’s online programshttps://valuationmasterclass.com/ (Valuation Master Class) https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market (How to Start Building Your Wealth Investing in the Stock Market) https://academy.astotz.com/courses/finance-made-ridiculously-simple (Finance Made Ridiculously Simple) https://academy.astotz.com/courses/gp (Become a Great Presenter and Increase Your Influence) https://academy.astotz.com/courses/transformyourbusiness (Transform Your Business with Dr. Deming’s 14 Points) Connect with Andrew Stotz:https://www.astotz.com/ (astotz.com) https://www.linkedin.com/in/andrewstotz/ (LinkedIn)...
Aug 24, 2021
Shinobu Hindert – Speak Up When You Believe Something Strongly
21:46
BIO: Shinobu Hindert is a certified financial planner™, professional, money expert, and creator of Empowered Planning, LLC. STORY: Shinobu tried to convince her clients to diversify their investment, but they ignored her and insisted on investing 100% in the Lehman Brothers company. When the 2008 financial crisis hit, the company went under, and the clients lost their investments. Shinobu regretted not pushing them harder to diversify. LEARNING: Don’t be afraid to push your philosophy hard if you believe in it. What worked for you in the past may not always work for you in the future.   “Always push harder as a financial adviser, especially if you have a philosophy you believe in.”Shinobu Hindert  Guest profilehttps://www.linkedin.com/in/shinobu-hindert-9004aa37/ (Shinobu Hindert) is a certified financial planner™, professional, money expert, and creator of https://www.empoweredplanning.com/ (Empowered Planning), LLC. She spent the first half of her career working for some of the largest financial institutions in the United States, including Smith Barney and Fidelity Investments. As a financial adviser, she created personalized financial plans for high-net-worth individuals overseeing more than $350 million in client assets. Now Shinobu has taken all her knowledge and created a simple, proven method for teaching personal finance. She has delivered over five hundred live workshops covering a wide range of topics, from budgeting to estate planning. Her goal is to simplify the complex world of investing and empower women everywhere to reach financial freedom. Worst investment everShinobu was working as a financial advisor back in 2007, and everything was good. Everybody loved financial advisors. When 2008 started approaching, there were hints that the markets were beginning to dwindle. But financial advisors didn’t dwell on these hints. Then came rumblings that banks were backing out of loans. One day in 2008, Shinobu came back to the office after lunch and found that the market had dropped so quickly that they had halted trading. The market just started to plummet from there. Lehman Brothers company went under, and all hell broke loose. Shinobu had clients who had invested 100% in Lehman Brothers, and now they were about to lose everything. She had tried to get them to diversify their investments earlier, but they didn’t want to listen to her. When the financial crisis hit and so many people were affected, Shinobu regretted not pushing harder to get her clients to diversify. Lessons learnedIf you’re a financial adviser and have a philosophy you believe in, you must push it harder. Don’t shy away from selling. It’s your responsibility as a financial adviser. Find a trusted partner, a family member, or a financial expert, whom you can talk to when you make a mistake. Mistakes are part of learning, don’t let them consume you. Andrew’s takeawaysWhat worked for you in the past may not always work for you in the future. Actionable adviceBe clear on the purpose of the money you’re investing. What is the goal of that money? Be clear about it, and then you will feel comfortable with your investment strategy. No. 1 goal for the next 12 monthsShinobu’s number one goal for the next 12 months is to promote her academy, https://www.empoweredplanning.com/academy (Empowered Academy), to a larger audience. Parting words  “If you are about to make an investment and don’t understand it, just ask, ask, ask, ask until it makes sense.”Shinobu Hindert  [spp-transcript]   Connect with Shinobu Hinderthttps://www.empoweredplanning.com/ (LinkedIn) https://www.facebook.com/EmpoweredPlanning (Facebook) https://www.empoweredplanning.com/ (Website) https://www.empoweredplanning.com/superpower (Book) Andrew’s bookshttps://amzn.to/3qrfHjX (How to Start Building Your Wealth Investing in the Stock Market) https://amzn.to/2PDApAo (My Worst Investment Ever) https://amzn.to/3v6ip1Y (9 Valuation Mistakes...
Aug 22, 2021
Kittisak Kovintavewat – Be an Investor, Not a Speculator
23:07
BIO: Kittisak Kovintavewat is a value investor who focuses on investing in value stocks in the US and China. STORY: Kittisak bought the Thai Airways stock as it grew steadily, but a few external and internal problems made the stock price drop. Even though Kittisak had studied the company extensively and knew the stock was strong, he panicked and sold his shares. The problems were later resolved, and the stock went up to three times more than what Kittisak had sold it for. LEARNING: Don’t focus too much on the price; instead, focus on the company’s stability. Find your investment style.   “Invest often so that you can find your investment style. Once you find your style, you will gain more success.”Kittisak Kovintavewat  Guest profilehttps://www.linkedin.com/in/kittisak-kovintavewat-60a381a4/ (Kittisak Kovintavewat) is a value investor who focuses on investing in value stocks in the US and China. He has been investing in the US for more than seven years and runs the https://www.billionairevi.com/ (Billionaire VI) page to help investors invest following the value investment style. Worst investment everIn 2014, Kittisak took an interest in Thai Airways. He studied the company for a while and realized that the company would make a huge profit every time oil prices would fall. Kittisak continued his research, convinced that it was a good company to invest in. At the time, Thai Airways’ shares were selling at 15 Baht per share. The price kept rising after Kittisak made his investment. But after a while, problems started arising in the Thai economy. The company was also experiencing internal i