My Worst Investment Ever Podcast Adrian Choo – Get Business Expertise Before Starting Your Own
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 profile
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!
Worst investment ever
Adrian 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 learned
- Don’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 takeaways
- Entrepreneurship 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 advice
You 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 Shark Tank, the American version.
No. 1 goal for the next 12 months
Adrian’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
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Connect with Adrian Choo
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points