My Worst Investment Ever Podcast Shane Senior – Do Your Due Diligence Before Buying an ICO
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 profile
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 ever
Shane 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 learned
- Always 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 takeaways
- Don’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 advice
Do your due diligence and stick with what you know works, not what possibly will work.
No.1 goal for the next 12 months
Shane’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 Senior
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