My Worst Investment Ever Podcast

BIO: Drew Neisser is the founder of Renegade and CMO Huddles. Drew has helped dozens of CMOs unleash their inner renegade via multiple award-winning campaigns.STORY: Drew made the mistake of increasing his staff from 40 to 100 and tripling his office space. Then one of his clients refused to pay the $500,000 owed. He was left with a real estate and cash flow problem.LEARNING: Be conscious about recurring versus non-recurring revenue. Be careful not to lose your business focus while chasing revenue. “Sweat, then figure out where that opportunity is.”Drew Neisser Guest profileDrew Neisser is the founder of Renegade and CMO Huddles. Drew has helped dozens of CMOs unleash their inner renegade via multiple award-winning campaigns and told the stories of over 500 marketers via his podcast Renegade Marketers Unite, Ad Age column, and two books. His 2nd book, Renegade Marketing: 12 Steps to Building Unbeatable B2B Brands, was named the top B2B audiobook of 2022.Drew is ranked among LinkedIn’s Top 15 marketing voices of 2022 and has been a featured marketing expert on TV, radio, print, and dozens of podcasts.Says bestselling author Jay Baer, “Drew Neisser is among the strongest B2B marketing thinkers in the world.”Worst investment everRenegade grew tremendously between 2005 and 2008. The company had 40 people, but it really needed 100 people to handle this brief moment. So Drew tripled the company’s office space, which soon became a problem.In addition to being in this gigantic space, Drew had the genius idea that this was the moment to buy Renegade from the parent company. The plan was to fund the deal with pending payments. Forty-five days into the agreement, Drew got a client call saying they wouldn’t pay the $500,000 they owed because someone had scammed the client.At this point, the company was over-extended in real estate and had too many product lines. At the time, the company was doing event marketing, guerilla marketing, website development, and social media. Then the financial crisis hit, and Drew had a real estate problem and a cash flow problem.Lessons learnedDon’t let the chase for revenue make you lose focus on what you’re really good at.Join a community first and get to know it well, and participate before you start your own.Andrew’s takeawaysThe chasing revenue phase can take you to many exciting places, but eventually, it will overextend you.Be conscious about recurring versus non-recurring revenue.Consider joining and starting a community.Actionable adviceBe real estate light, especially if you’re a service company since clients rarely visit offices now.Drew’s recommendationsDrew recommends checking out Renegade.com. There, you’ll find links to his podcast, a monthly newsletter that a lot of folks in business subscribe to, and a blog that’s constantly being updated and has transcripts from all the podcast episodes.No.1 goal for the next 12 monthsDrew’s number one goal for the next 12 months is to work four days a week instead of six. At the same time, he wants to grow Renegade and CMO Huddles while enjoying every minute of it.Parting words “Don’t be afraid. Just get out there and do it.”Drew Neisser [spp-transcript] Connect with Drew NeisserLinkedInTwitterFacebookInstagramYouTubeBookPodcastWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Rick Elmore is an entrepreneur, sales and marketing expert, and the Founder and CEO of Simply Noted.STORY: Rick had a team of software developers, electrical engineers, and mechanical engineers who were to develop a robot for a seven-figure client. The robot was supposed to be done six months before the client signed the contract. Unfortunately, the team couldn’t deliver, so Rick lost the contract.LEARNING: Let your losses drive you. There’s no straight line to success. “There’s no straight line to success, it’s going to be constant ups and downs, and there may be many more downs than ups.”Rick Elmore Guest profileRick Elmore is an entrepreneur, sales, and marketing expert. As the Founder and CEO of Simply Noted, Rick developed a proprietary technology that puts real pen and ink to paper to scale handwritten communication, helping businesses of all industries scale this unique marketing platform to stand out from their competition and build meaningful relationships with clients, customers, and employees.Founded in 2018 and based in Tempe, Arizona, Simply Noted has grown into a thriving company with clients of various sizes across the country, including in hospitality, real estate, insurance, nonprofit, franchise, B2B, and others. Rick has served as the company’s CEO since its founding for more than five years and has over a decade of sales and marketing industry experience.Worst investment everRick’s background is in athletics, but in 2017, he had a bright idea to start a robotics and industrial automation company. Rick had no clue what he was doing. He worked hard, and his sales team brought in clients. Rick had a seven-figure contract with one client.After a year of working with this client, it was time to renew the contract. However, the multi-year contract depended on getting a robot done. The robot the company was using then couldn’t scale with the client. Rick had been in talks with the client and promised that the new robot would be done before signing the new contract.Rick had a software development team, an electrical engineering team, and a mechanical engineering team. Together, they were supposed to be done with the robot six months before the new contract negotiation was done. The team, however, was way behind schedule. Rick had put so much work and money into the robot for almost three years, and the developers and engineers just couldn’t get it done on time. Rick ended up losing that seven-figure contract.Lessons learnedThere’s no straight line to success. It involves a lot of ups and downs—there will be more ups than down.You cannot refuse to start something because you’re afraid of how hard it will be or because you don’t have all the answers.You have to get started. You can’t be afraid to fail. Fail early and often.Learn from your failures.Andrew’s takeawaysYou have to scale to get to the next level.Let your losses drive you.You’re going to make mistakes, and you’re going to go in wrong directions. That’s just part of life.Actionable adviceTo be a successful entrepreneur, you must be disciplined and take calculated risks. The only way to do that is by doing a lot of tests in your business.Rick’s recommendationRick recommends taking Coursera courses for self-education. You’ve got to become a student in life and your craft.No.1 goal for the next 12 monthsRick’s number one goal for the next 12 months is to build a new website to offer his clients the best product experience.Parting words “Never give up. You don’t fail until you quit.”Rick Elmore [spp-transcript] Connect with Rick ElmoreLinkedInWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Lisa Gates is a leadership coach and career story sleuth who helps women strategically self-advocate so they are seen, heard, valued, and paid.STORY: Lisa’s husband got a 65 Mustang as payment for an $800 debt. They spent over $14,000 to repair the car and sold it for just $7,000.LEARNING: Don’t invest in something you don’t naturally value or have an interest in. Don’t let other people’s problems be yours. “It’s never about the other person, even when it is.”Lisa Gates Guest profileLisa Gates is a leadership coach and career story sleuth who helps women strategically self-advocate so they are seen, heard, valued, and paid.By building core narratives for every career context, from interviewing to networking to promotion, Lisa helps women capture the stories that demonstrate impact in action to break through the barriers of invisibility and exclusion.With a career that spans from marketing and public relations to writing and acting, Lisa has become an expert at interviewing, pitching, negotiating, and storytelling.Previously, she co-founded She Negotiates, an internationally recognized consulting and training firm, where she helped hundreds of women close their wage and leadership gaps. Her work has appeared on NPR, CNN, The New York Times, The Wall Street Journal, The Atlantic, Glamour, and elsewhere.Worst investment everSomeone owed Lisa’s husband about $800, which was a lot of money back then. One day her husband came home and said he’d got paid. Well, not in cash. The person had given Lisa’s husband a 65 Mustang. The car was a collector’s dream, but it needed an engine, a paint job, a Fender, a headliner, carpeting, and new upholstery.Lisa’s husband believed he could sell the car for $20,000. Lisa was livid because they needed the money owed, and the only way they could make any money from selling the car was if they made all the repairs necessary.Lisa’s father-in-law died and left a small inheritance of about $17,000. They spent about  $14,000 from the inheritance to repair the car. It was beautiful by the end of the repairs. Just after picking up the car, the couple was driving home when Lisa ran into the back of another vehicle and crunched the front end. Now they had to do some more repairs and spend more money. They finally sold that car for $7,000.Lessons learnedIf it isn’t something you naturally value or are interested in, don’t invest in it.Whatever you invest in has to fit your priorities and what you’re up to in your life.Andrew’s takeawaysAsk yourself, knowing what you know about this person right now, if you weren’t in this relationship and this person walked up to you and wanted to start this relationship, would you start it? If the answer is no, then you’ve got some decisions to make. If the answer is yes, double down and bring more value to that relationship.When somebody’s having a problem or dealing with their burden, that burden or problem doesn’t have to be yours, and you don’t have to accept it.Actionable adviceGrow your emotional intelligence by learning to ask questions before responding or saying yes.Lisa’s recommendationsLisa recommends her various LinkedIn courses for conflict resolution and negotiation:Coaching for ResultsNegotiation FoundationsConflict Resolution FoundationsNo.1 goal for the next 12 monthsLisa’s number one goal for the next 12 months is to lose 25 pounds.Parting words “I just have a big thank you. You have a great heart and a great expertise.”Lisa Gates [spp-transcript] Connect with Lisa GatesLinkedInWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Ilise Benun has made it her business to teach basic business skills to creative professionals who should have learned them in school but, alas, did not because it’s not taught in school.STORY: Ilise hired a designer to design a brochure for her consulting practice. Instead, he delivered a folder with her logo.LEARNING: Stand up for yourself. Ask every question you can think of. “Ask every stupid question to confirm the details of any arrangement.”Ilise Benun Guest profileIlise Benun has made it her business to teach basic business skills to creative professionals who should have learned them in school but, alas, did not because it’s not taught in school. This has, for years, perpetuated a “starving artist” mentality amongst creative professionals, who are naturally talented and could easily bring their creativity to the business side of their business if only they knew how. That’s her mission with all of her work through marketing-mentor.com, including The Marketing Mentor Podcast, seven books including The Creative Professional’s Guide to Money, three online courses for Creative Live and Domestika.org, and much more. If you want more from Ilise on mindset, money, and marketing, sign up for her Quick Tips.Worst investment everWhen Ilise started her business, she came across a graphic designer and thought it would be great to have a brochure for her consulting practice. The designer showed Ilise images and examples of what the brochure would look like. Ilise was very excited. But when the brochure arrived on her doorstep, it was not what she had imagined. The designer designed boxes of folders with Ilise’s logo on it. The designer asked her all sorts of questions, and she answered them. She was utterly disappointed in the product but didn’t say anything. She just never worked with the designer again. Ilise was so young, immature, and afraid at that point in her career that she just didn’t stand up or advocate for herself.Lessons learnedStand up for yourself and bring yourself to the negotiation.Strip away all of those things you imagine you’re supposed to be so that people can see who you are. That’s who they’re going to want to work with.Andrew’s takeawaysWhen working with service providers, ensure that they deliver incrementally or get feedback as you go through the process. Don’t wait to get the final product to give your input.Stand up for yourself to deliver to your business partners, employees, and family.Actionable adviceAsk every question you can think of, even if it feels like it would be a stupid one.Ilise’s recommendationsIlise recommends her Domestica course, Writing a Winning Proposal. She teaches what she calls the proposal Oreos strategy. This is a way to help people using a food metaphor to learn how to have the money conversation and then decide whether or not to write a proposal based on that conversation.No.1 goal for the next 12 monthsIlise’s number one goal for the next 12 months is to expand the E-commerce part of her business, take all the content she’s been creating, and turn it into products she can sell.Parting words “The only mistake is making the same mistake more than once.”Ilise Benun [spp-transcript] Connect with Ilise BenunLinkedInTwitterFacebookYouTubeBooksPodcastWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedMori Taheripour (March 2020), Bring Yourself: How to Harness the Power of Connection to Negotiate Fearlessly

BIO: Souniya Khurana is the Co-Founder and CEO of the podcast company and a new-age media venture WYN (Wine) Studio.STORY: When Souniya was in grade six, she failed math. Everyone kept pushing her to focus on this failure instead of her strengths. This made her create a narrative that she wasn’t good enough.LEARNING: Own your narrative. Don’t let anybody else decide who you are or your narrative. You can change your narrative. “Please don’t invest in things that you’re bad at.”Souniya Khurana Guest profileSouniya Khurana is the Co-Founder and CEO of the most creative & sought-after branded podcast company and a new-age media venture WYN (Wine) Studio.While Souniya’s career spans more than a decade across developing businesses and strategic roles and a failed startup before navigating her way successfully through her second entrepreneurial stint, WYN Studio, what has conspired to her success is owning her story and seeing through the many failures in her life as important milestones.TGIF, she often says! Often? Why? Because for her, it means, “Thank God I Failed!”Worst investment everSouniya was horrible at mathematics, and her family always told her that this was her weakness and that she should invest in it more to get better at it. Souniya really tried to get better at mathematics, and she did but at the expense of what she was really good at. Nobody ever amplified or helped Souniya look at her strength—English. She loved stories and the world of narratives. But nobody helped her realize that this was where she needed to invest more. She felt like she was not good enough for her entire school life.When Souniya failed math in sixth grade, she contemplated suicide because she felt her life was not worth it. Instead of looking at it as an event in her life, she ended up looking at it as who she was—a failure. She used that as a tag up until her first venture in 2016.No matter what happened before 2016, whether it was getting the best placement in college, good grades in university, or a good job, Souniya always felt that those things were happening by default. She didn’t believe she made them happen. She always thought she wasn’t good enough because people always pushed her to focus on her weaknesses.It was only after 2016, when Souniya met the right mentors, that she realized that the fact was that she was not good at math, but that didn’t mean that she wasn’t good enough.Lessons learnedOwn your narrative. People will tell you many things but step out of your situation, take a helicopter view, and create your own story.Take the emotion out of situations that drain you and look at them more rationally and clearly.Invest in your strengths.Always remember that it’s you who’s in the arena and the only one who knows what’s going on. So don’t let anybody belittle you or decide who you are or what’s your narrative.Andrew’s takeawaysStep outside of your situation and imagine that you’re up on the ceiling looking down, and then use that as a tool to observe yourself.You can change your narrative.Actionable adviceIf you’re on the verge of making important decisions—whether it’s choosing the right education, right university, or career—first recognize your strengths. Think about those times when you felt you were in the absolute flow, when you loved doing what you were doing and were so engrossed and involved in that activity. Figure out what that thing is. Then see if there’s a possibility to transition that into a profession or something that’ll make you money or create an impact in the world. If yes, then go all out for it.Souniya’s recommendationsSouniya recommends the CXO Talks podcast to aspiring CXOs, entrepreneurs, those in middle management, and anyone looking to get into executive positions. The podcast offers candid, vulnerable stories to help you overcome murky moments or regrets.No.1 goal for the next 12 monthsSouniya’s number one goal for the next 12 months is to get into better health and fitness because she now fully understands that her health is her wealth.Parting words “There are so many insights that come from the worst investments. I don’t think there’s any other way to get better at investing than to learn from others’ mistakes. So I think you’re doing a phenomenal job, Andrew.”Souniya Khurana [spp-transcript] Connect with Souniya KhuranaLinkedInTwitterInstagramYouTubePodcastWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Strategist, speaker, and author Michele Wucker coined the term “gray rhino” as a call to take a fresh look at how we respond to obvious, probable, impactful risks.STORY: Michele hated being a pre-med and psychology student, but she kept at it because she believed it was the safest path for her.LEARNING: Don’t ignore the signs telling you that something is wrong. Build your self-awareness. “When you’re tired, and you’re just not feeling like yourself, that’s a really great signal that something is wrong.”Michele Wucker Guest profileStrategist, speaker, and author Michele Wucker coined the term “gray rhino” as a call to take a fresh look at how we respond to obvious, probable, impactful risks. The metaphor and framework have shaped business and investment strategies and made headlines in more than 35 languages and 70 countries. Michele founded the Chicago-based advisory firm Gray Rhino & Company and is a former media and think tank executive. Her four books include the influential global bestseller The Gray Rhino and the sequel, You Are What You Risk.Worst investment everMichele decided to join college as a pre-med, psychology, and French major. She believed this was the best choice and what was expected of her. But Michele hated the psychology and chemistry classes. However, Michele had this idea in her head that she’d be a psychiatrist, so she kept pushing.It took Michele way too long to realize that she was investing her time, energy, and intellect into something that wouldn’t work out. It took many more experiences of investing her time, energy, and emotions into other people’s expectations or into what Michele thought was the safest and least risky path for her to chase her true dreams. Eventually, she quit med school and became a Policy Studies major.Lessons learnedUnderstand how to recognize the signs warning you that something is wrong.Be aware of what you give to the world and what sustains you.Always analyze risks, possible responses, what makes you comfortable or not and what gives you an increased sense of control.Andrew’s takeawaysAwareness allows you to identify what isn’t for you quickly.Don’t wait to find the thing you like because that may or may not be in front of you. But if you find what you don’t like, use that as an impetus to move you to the next thing.Actionable adviceIdentify the stresses and what triggers them. Then identify what makes you feel better or more comfortable.Michele’s recommendationsMichele recommends her blog, The Horn, which talks about global issues and how to respond to them. She also recommends the Gray Rhino blog, which includes her thoughts about behavioral responses to risk.No.1 goal for the next 12 monthsMichele’s number one goal for the next 12 months is to rearrange her life so she can be based more in Chicago. This will help her reduce the number of plane trips she makes and, as a result, reduce her carbon footprint and the toll on her health.Parting words “Your worst mistakes will get you to where you want to go. So don’t beat yourself up for them. But while you’re in them, learn that lesson faster so you can get to where you want to go faster.”Michele Wucker [spp-transcript] Connect with Michele WuckerLinkedInTwitterFacebookInstagramBookWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Anna Rosling Rönnlund is a Swedish designer who, with her husband Ola Rosling, developed Trendalyzer, interactive software for visualizing statistical information.STORY: Anna and her husband bought a home after moving to the US. A while later, they had to move back to Sweden, so they decided to sell the house. This was during the financial crisis that hit the real estate market badly. So the couple lost a lot of money after the sale.LEARNING: Keep your costs low. You don’t always have to buy a home. “Spending time doing things you love is the best investment ever.”Anna Rosling Rönnlund Guest profileAnna Rosling Rönnlund is a Swedish designer who, with her husband Ola Rosling, developed Trendalyzer, interactive software for visualizing statistical information. In 2005, with statistician and father-in-law Hans Rosling, she co-founded the Gapminder Foundation, where she serves as vice president for design and usability. In 2016, she announced Dollar Street, a website that imagines a street of homes to help visualize how people of varying cultures and incomes live around the world. In 2017, she collaborated with Hans Rosling on his book, Factfulness.Worst investment everAnna and her husband moved to the US, where they were both working at Google. They decided to look for a place to stay close to the office. The couple had sold their apartment in Sweden, so they had some cash to purchase a house. They bought their home just before the real estate market crashed and then moved back to Sweden after it crashed. They decided to sell the house and lost quite a lot of money.The home was just a few miles from where Facebook was building its new headquarters. Had the couple held onto the house for just a year or two after moving back to Sweden, they’d have gained quite a lot of money.Lessons learnedWhen investing, start from your dream or passion and then gradually diversify to other things.Keep your costs low, but still enjoy life, and make sure you do things you like—it doesn’t have to cost a lot.Andrew’s takeawaysOne way to protect yourself is to keep your costs really low.You don’t have to buy a house, especially when you’re moving to a new city.Property can fall, and you lose for a while, but in the long run, it eventually comes back.Actionable adviceIf you’re not going to stay in a home for a very long time, don’t buy it—rent instead.Anna’s recommended resourceAnna recommends reading Factfulness because it’s all about how to make sense of the world. It gives you a general overview of the biggest trends and proportions to make better decisions in life and work.No.1 goal for the next 12 monthsAnna’s number one goal for the next 12 months is to add the questions received from the general public and interactive video-led courses, the Worldview Upgrader. This is a tool she developed for people to check their knowledge and upgrade their worldview.Parting words “Good luck with your investments, and make decisions based on data.”Anna Rosling Rönnlund [spp-transcript] Connect with Anna Rosling RönnlundLinkedInTwitterFacebookInstagramYouTubeBookWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Susan Frew is a renowned entertaining, and value-driven speaker and thought leader. She has coached hundreds of companies and non-profits to great success.STORY: Susan left an unsupervised employee in charge of her coaching practice. This employee left her with a million dollars in debt.LEARNING: Trust but verify every single employee. Get on-time and accurate monthly financial statements. Put in place metrics of accountability. “Get your own mail. If I had been getting my mail, this wouldn’t happen.”Susan Frew Guest profileSusan Frew is a renowned entertaining, and value-driven speaker and thought leader. She has coached hundreds of companies and non-profits to great success. Susan and her husband, William, grew their trade business by 535% in just one year by creatively using seven deceptively simple tools coupled with some good old-fashioned elbow grease. As a result, Sunshine Home Services now boasts a coveted spot on the INC 5000 List as one of the INC Best Places to work.Worst investment everSusan’s husband started a plumbing business while she was running a coaching practice. Her husband’s business grew so much that she decided to leave her practice and join him.But with time, Susan started speaking again and got busier and busier. She was traveling a lot for her speaking engagements. So she had to leave the practice to an employee to manage it while she was away. The mistake she made was to advocate and dump all the work she didn’t want to do on the employee instead of delegating strategically. She also didn’t have the proper supervision in place. This employee was allowed to get Susan’s mail, use her credit card, and access her bank accounts and other accounts.One Saturday, Susan got a knock on her door, and it was the postman with a letter saying that she owed the IRS $498,000 in taxes and fees. She also had a $209,000 fine for not supervising her employee.Susan had put her employee on a Pay Plan, which she thought was genius at the time. The employee would get a bonus every month if she stayed on budget. Her way of staying on budget was to short the bills. So if, for instance, the practice owed the IRS $5,000, she’d pay $4,000. What she didn’t realize was that the IRS would eventually match up the W2s with all the 941 deposits and signature sheets Susan would submit.Peeling back the onion even further, Susan found out that the employee had used her tire account to buy tires for the cars of everyone in her family. She’d use one of Susan’s gas cards to fill her car. She even bought tools at the local parts store on Susan’s account. On adding up all these purchases, Susan was a million dollars in debt.Lessons learnedTrust but verify every single employee and put in place metrics of accountability.Don’t dump your work on someone else; instead, delegate strategically.Don’t take yourself too seriously.Have an outside bookkeeper who has no emotional attachment to your office manager and is a very strong taskmaster.Exit before it tanks.Andrew’s takeawaysGet on-time and accurate monthly financial statements.When you make a mistake, be vulnerable with a small group of people you trust and then move on.Ultimately, profit solves so many problems. So focus on building profit for your business.Actionable adviceHave a proper understanding of your financials and watch that money.Susan’s recommendationsIf you’re running a company, Susan recommends making time for self-care to stay in good shape. Self-care will make you focus better, make you stronger, and give you a better opportunity to make better decisions.No.1 goal for the next 12 monthsSusan has a five-year plan, starting next year, to look for an exit for the company. She’s working on building a healthy EBITDA number while still serving her clients exceptionally.Parting words “Surround yourself with loving, supportive people that you can trust because you need them.”Susan Frew [spp-transcript] Connect with Susan FrewLinkedInPersonal websiteWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Ridhi Bahl is a leading Astrologer in India with a Ph.D. in Astrology and Vastu.STORY: It wasn’t until Ridhi was found to have an ovarian tumor that she started taking her health seriously.LEARNING: Health is your biggest and best investment. If one door closes, another opens. Don’t let self-pity get out of hand. “Man is a master of his own destiny. We have the power to change our own destiny.”Ridhi Bahl Guest profileRidhi Bahl is considered one of the top-notch Astrologers in India. She has done her Ph.D. in Astrology and Vastu. Her numerous years of experience and research in various branches of Astrology have given her a professional edge in Predictive Astrology, Mundane Astrology, and Medical Astrology. With intensive research in Vastu for over two decades, Ridhi has to her credit more than 5,000 case studies of successful Vastu amendments, including commercial, industrial, and residential projects. To add to her skills, she provides Vastu solutions without making structural changes.Worst investment everWhen Ridhi was young, she suffered from certain health conditions, leading to regular tests, medical checkups, and doctor visits. At times, day-to-day activities would be a challenge to her. Her health issues continued even after she graduated, did her masters in management, and started working a corporate job. Like any other young person in their 20s, Ridhi was full of dreams and aspirations despite having health issues.All along, astrology was always at the back of Ridhi’s mind, but it was just a fascination to know the future. As all these things were simultaneously going on, Ridhi was under the impression that she’d made the right decisions for herself by doing an MBA and getting the right job. But there was some disconnect somewhere happening. Even though she was paid very well, was working for an excellent organization, and everything was picture perfect from the outside, from within, it was not. Ridhi felt unhappy. Something just wasn’t feeling right. But she continued with life because everybody else around her thought her life was perfect.When Ridhi was 28 years, she gave birth to a son. This was when she was found to have an ovarian tumor. Even though the tumor was benign, the whole experience was life-changing. It took a nasty toll on her health to the point where she couldn’t get out of bed. Ridhi had to quit her job. She felt like her life had come to a standstill, and nothing was going to move.Ridhi had a lot of why’s, and nobody was able to give her answers to those y’s. This was when she decided to get into astrology. Ridhi studied astrology and got the answers she was looking for.Lessons learnedHealth is your biggest and best investment. It’s more important than wealth.If one door closes, another opens. So keep going even if certain things are not working as you want them to.When you put your mind to something, you can really do it.Andrew’s takeawaysIf you’re pushing yourself to a point where you’re physically hurting yourself, you’ve got to stop. Life is not about that.Sometimes life is as simple as just being grateful for what you have.Don’t let self-pity get out of hand because it can lead to psychosomatic problems.Actionable adviceHave faith in yourself. We, humans, have the immense capacity and capabilities to bring about a lot of changes. You have the power to change your destiny.No.1 goal for the next 12 monthsRidhi’s number one goal for the next 12 months is to continue guiding people the right way so they can follow the right path.Parting words “Have faith and trust in yourself; you can move mountains.”Ridhi Bahl [spp-transcript] Connect with Ridhi BahlLinkedInTwitterFacebookInstagramPinterestYouTubeWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Will Basta is the co-founder of ACV - Accelerated eCom Ventures, an e-commerce automation agency and investment management company, the only company in the industry capable of combining logistics, wholesale distribution, and e-commerce growth all into one.STORY: Will felt obliged to follow his family’s steps and went to university as a pre-med student. This left him with over $100,000 in student loans, yet he feels he’d have pursued other interests.LEARNING: Take your time before rushing to the next phase in life. There are many options for acquiring knowledge; don’t limit yourself to university. “Things change all the time. So step outside the rate race box laid out in society.”Will Basta Guest profileWill Basta is the co-founder of Ascend Ecom, an e-commerce automation agency and investment management company, the only company in the industry capable of combining logistics, wholesale distribution, and e-commerce growth all into one.With two years in the business, he’s made Ascend Ecom a company comprised of 500+ clients, two warehouses in Dallas, 100’s of employees, and millions of monthly revenues.Worst investment everWill comes from a family of well-educated high fliers. His elder sisters went to Ivy League universities and are successful professionals. When he finished high school, Will felt obliged to go to the university and take the pre-med direction.One of Will’s sisters took a $20,000 loan for him, but he had to pay the rest of the college fees. This saw him spend well over $100,000 in student loans and graduate with a general degree.Will regrets rushing into university and putting himself in serious debt, yet he doesn’t see the value of that university experience. He wishes he had taken a full year after graduating high school and thought things through before joining the university.Lessons learnedThere’s a lot of time, so you can take your time before deciding what’s next.University isn’t 100% necessary.Andrew’s takeawaysThere are many options for acquiring knowledge; don’t limit yourself to university.Actionable adviceTake your time because life goes by fast. Be aware of life’s rollercoaster and take a step back at every benchmark and chapter in your life.Will’s recommended resourceWill recommends reading the book Own the Day, Own Your Life: Optimized Practices for Waking, Working, Learning, Eating, Training, Playing, Sleeping, and Sex. It touches on pretty much everything from waking up in the morning, what you eat, professional life, sex, partnerships, etc.No.1 goal for the next 12 monthsWill’s number one goal for the next 12 months is to keep bringing value to his clients and to take his company global. He wants to get into the Canadian and UK markets.Parting words “Stay positive, stay on the path and remember that being present is extremely important.”Will Basta [spp-transcript] Connect with Will BastaLinkedInTwitterFacebookInstagramWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast