My 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

BIO: Shaye Heffernan has a Ph.D. in Economics and has done several IPOs that have surpassed a market cap of a billion dollars.STORY: Shayne lent his friend of 20 years $6 million in the agreement that he’d get a stake in his friend’s business. That business failed, so Shayne never got his money back nor made anything from the friend’s company.LEARNING: Lending money to friends is a terrible idea. Have very clear agreements when lending money. “Keep your friends as friends and your business as a business. Don’t try to mix those up.”Shayne Heffernan Guest profileShaye Heffernan has a Ph.D. in Economics and has done several IPOs that have surpassed a market cap of a billion dollars.Worst investment everShayne’s friend of 20 years came to him in Hong Kong in tears wanting $6 million to save his business. The friend was also being thrown out of his house within the next 48 hours. Shayne felt sorry for his friend, so he lent him $6 million. The agreement was that he’d get his money back and some returns once the friend rebuilt his business.Shayne didn’t do any due diligence, and the agreement was written quickly without thought. He just transferred the money to his friend immediately.Shayne’s friend built his next venture, which got listed and went through the roof. Shayne was celebrating as the company had a valuation of about $10 billion. So his friend’s stake was worth about $6 billion. Shayne thought he would be rich! He called his friend to follow up on the agreement. His friend said that this was a second venture, the first one (which he insisted was the one they agreed on) had failed. So Shayne didn’t get his $6 million back or make any money from his friend’s business, which he saved.Lessons learnedUrgent deadlines are an enormous red flag.Lending money to friends is a terrible idea.Have very clear agreements when lending money.Take your time before coming to someone’s financial rescue and see what happens.Keep your friends as friends and your business as a business. Don’t mix the two.Everyone you owe money to is your problem.Andrew’s takeawaysDon’t be a hero. You can’t save the world.Your obligation is only to your family and your business partners and to protect your wealth for yourself.Actionable adviceLearn to be patient and get over yourself in terms of your ego.Shayne’s recommended resourcesShayne recommends reading I Am Right, You Are Wrong. The book will help you learn how to look beyond the argument, and the powerful emotional rhetoric, get to the facts, and see what’s right and wrong.No.1 goal for the next 12 monthsShayne’s goal for the next 12 months is to teach his sons how to run a trading desk.Parting words“Just be careful.”Shayne Heffernan [spp-transcript] Connect with Shayne HeffernanLinkedIn WebsiteAndrew’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: Brian Portnoy is the founder of Shaping Wealth, a learning technology platform transforming the human experience of money.STORY: Brian joins us again on the podcast. This time he talks about his endeavors in behavioral finance and how he’s helping financial advisors improve their emotional competencies to achieve financial well-being more effectively.LEARNING: Put thought into your financial well-being. “The driving assumption of most economics is that more is better. We know that that’s not true.”Brian Portnoy Guest profileBrian Portnoy is the founder of Shaping Wealth, a learning technology platform transforming the human experience of money.He is one of the world’s leading experts on the psychology of money.He has written multiple bestselling books, including The Geometry of Wealth, and has 20+ years of experience as an investor and educator in the hedge fund and mutual fund industries.He is a CFA Charterholder and earned a Ph.D. at the University of Chicago.Brian Portnoy was one of our first guests on the My Worst Investment Ever podcast. He shared his experience with us in episode 17. Four years later, he joins us again, and in today’s episode, we catch up on what he’s been up to.Getting into the world of social psychology, neuroscience and behavioral financeBrian got into social psychology, positive psychology, and neuroscience. he wanted to understand how we tick as human beings, what makes us have shared qualities and experiences, and what makes us unique. He enjoyed that endeavor of learning so much that he wrote a few books in the field. One’s called The Investor’s Paradox: The Power of Simplicity in a World of Overwhelming Choice.A few years later, Brian published a different book called The Geometry of Wealth: How to shape a life of money and meaning. The book is about behavioral finance and targets professionals in the wealth management industry. The book seeks to address three issues these professionals face:Am I going to be okay?How much is enough?Does money buy happiness?The uniting theme of these three issues is the term funded contentment. This is the ability to underwrite a life well lived, a life that is meaningful to you—however you choose to define it. There’s this assumption of most economics that more is better. According to Brian, this is not valid. Instead, he believes it should be about finding calibration and balance in equilibrium more than maximizing things, especially the size of our bank accounts or balance sheets.As brian dug deeper into behavioral finance, he felt the urge to get into coaching. So he started a coaching and content platform called Shaping Wealth. He took some of the key ideas from The Geometry of Wealth and used them in his coaching business to help people make better decisions, form better habits, and achieve a more meaningful life with a specific emphasis on financial well-being.Dealing with overwhelming dimensions of our money lifeBrian notes that there are many dimensions to our money life, and we’re often overwhelmed by them. We live in a global financial supermarket—an always-on, 24/7 world. His book and coaching business help people learn how to form good habits and ultimately achieve the well-being they want— even when so many things are stacked against them.Coaching the coaches to keep up with a changing wealth management industryBrian’s business works with the wealth management industry. It’s a B2B platform that works with financial advisors. As the financial advice industry moves from transactional to more relational, advisors become not just planners but also coaches and guides for people. So Brian has stepped into coach the coaches.Globally, companies are investing in their people in ways that they haven’t in the past. Physical, emotional, and financial wellness has become a priority for many companies. With this in mind, Brian is helping companies be more thoughtful about what they share with their employees. This is in terms of assisting them in making better decisions, forming better habits, and, more broadly, helping money fit into a meaningful life.So much of what Brian is doing at Shaping wealth is helping financial advisors and, in turn, their clients improve their emotional competencies to achieve financial well-being more effectively.No.1 goal for the next 12 monthsBrian’s goal for the next 12 months is to ensure that an increasing percentage of the global wealth management community understands the positive impact a chief behavioral officer can have on their firm, team, and clients.Parting words “I just want to leave with an expression of thanks and gratitude, you’re a good guy, and I appreciate it.”Brian Portnoy [spp-transcript] Connect with Brian PortnoyLinkedInTwitterWebsiteAndrew’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: Tara LaFon Gooch is a 2X business founder and entrepreneur. Before entrepreneurship, she was a corporate sales director who got burnt out on corporate life and wanted to explore more possibilities.STORY: Tara started a business with a partner who didn’t align well with its goals. This saw her do all the work, and she had to quit after realizing this wasn’t a partnership anymore.LEARNING: Vet your partners well before getting into a partnership with them. Listen to your gut. “Your business partner can dictate the progression, the strategy, the flow, and ultimately the success of anything you do.”Tara LaFon Gooch Guest profileTara LaFon Gooch is a 2X business founder and entrepreneur. Prior to entrepreneurship, she was a corporate sales director who got burnt out on corporate life and wanted to explore more possibilities.Her background afforded her the ability to view problems from more than one angle, to be creative, and to apply out-of-the-box thinking.Through her business, Best Branding Solutions, she helps executives and businesses improve their personal brand. Their improved digital footprint helps them be seen as visionaries in their field.Tara offers 60-minute 1:1 business consulting or LinkedIn strategy calls.Worst investment everEarlier this year, Tara had a business partner with this fantastic business idea. The customer base was there. Tara was excited to get started and had lots of energy. This was a new industry that she’d never been in, but she was not intimidated.The two formed a 50/50 partnership. Tara’s title was Executive Vice President. The two took it from an idea to a national-level business in just seven months. The company was in home advertising, and they had a truck fleet that went nationally and was absorbed into every state in the United States within seven months.Though the business was growing, Tara realized she was doing all the work. Her business partner was hardly involved and didn’t seem to align with the business’s goals. Eventually, Tara was tired of doing everything, so she quit the partnership.Lessons learnedIn a partnership, both partners must be aligned with the business’s goal; otherwise, it will fail.Vet your partners and do thorough research before you make an investment.Listen to what your gut is saying instead of what other people say.There’s no secret sauce to success. Success comes from where you put your energy.Andrew’s takeawaysMove beyond the excitement of a new opportunity and do your due diligence.Pay attention to your intuition to avoid making big mistakes.Actionable adviceDon’t rely on somebody else to give you success. Success comes from within. Take action steps every single day, and you’ll succeed.Tara’s recommended resourcesIf you think success and wealth are not for you, Tara recommends reading The Science of Getting Rich to learn how to have the success and wealth you deserve.No.1 goal for the next 12 monthsTara’s goal for the next 12 months is to achieve 100% financial freedom and independence.Parting words “Follow your gut and know that you have the power within you already. But take action and take it today. Tomorrow is not promised to anyone.”Tara LaFon Gooch [spp-transcript] Connect with Tara LaFon GoochLinkedIn FacebookWebsiteAndrew’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: Adrian Choo is a Career Strategist in Asia and the founder of Career Agility International. Sze-Yen Chee is the Executive Director/Co-founder of Career Agility International and is a top Singaporean career coach.STORY: We look at their book The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).LEARNING: Your career is not everything. “You’re more than your career. You can fail in your career, but you haven’t failed in life.”Adrian Choo and Sze-Yen Chee Guest profileAdrian Choo is the One and Only Career Strategist in Asia and is the founder of Career Agility International. Sze-Yen Chee is the Executive Director/Co-founder of Career Agility International and is Singapore’s top Career Coach. Together, they wrote a great book: The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).In today’s episode, we’re going to do things differently. Instead of talking about Adrian Choo’s worst investment ever—we already did that in episode 495—we’ll talk about the book he’s co-authored with Sze-Yen Chee: The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).The book idea is bornPost-COVID, Adrian and Sze-Yen noticed a shift in values manifesting in the form of quiet quitting and the Great Resignation. Many people were still coming to terms with that. This led to the idea of writing a book to amalgamate and put together all the observations they’d made.One of the reasons why the authors named the book The Great Career Paradox is because they noticed a fascinating trend where many believe that to achieve personal happiness, they must have career success. They work hard to drive their career success and don’t care about other things in their life, such as their health, family, hobbies, etc., that are equally important. Then they achieve success, yet they feel empty inside. To fill this gap, they work even harder in their career to get even more successful. And hence, a career paradox that you cannot achieve happiness through just your career.Breaking out of the career paradoxAdrian and Sze-Yen wrote their book to help people break out of their career paradox. They use their wisdom to help their readers manage the little speed bumps people experience in their career journey.The book will help readers take care of the career path aspects of their life or at least be aware of what they can do to manage their careers better. That gives them a lot more bandwidth, time, and mind space for the things that really matter—including family, hobbies, health, etc.The book gives you clarity and introduces you to new logic and different points of view toward career progression.Your career is not everythingOne of the biggest things that Adrian and Sze-Yen want to dispel is that your career is everything. You’re more than your career. You can fail in your career, but that doesn’t mean you have failed. It’s just a job. You can recover.Adrian and Sze-Yen emphasize the need to find your life’s purpose and plot your career strategy around that purpose instead of making your career your purpose.Andrew’s takeawaysNot everybody is driven by the goal of achieving a lot in life. Some people want a good job and don’t want to push everything to the limit. So bosses need to understand the different motivations different employees have.As a boss, you must know that people go through all sorts of seasons and will therefore be different people during those seasons.Actionable adviceAdrian advises career professionals to know when to pull back to avoid burnout. He suggests approaching your career the same way a professional athlete approaches theirs. They never train excessively to avoid injuring themselves.Sze-Yen’s advice is to continue growing no matter the season you are in. Continue accumulating skills, sponsors, and mentors, and keep up with current trends because the world is changing at an unbelievable pace. So always have a future-oriented growth mindset. [spp-transcript] Connect with Adrian Choo and Sze-Yen CheeLinkedIn (Adrian)LinkedIn (Sze-Yen)BookWebsiteAndrew’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: Litan Yahav sold a startup, decided to invest a lot of the money he made into real estate - mainly syndications, and encountered a lot of (good) problems managing it. That led him to build a new startup to solve his problems and similar problems of millions like him.STORY: When Litan sold his company, he and his co-founder decided to buy single-family homes in Ohio via a property management firm. The two never anticipated the challenges they’d encounter from tenants and the municipality.LEARNING: Investing in single-family rental properties is never really passive. Buying a single-family home is riskier than investing in an apartment block. Buying properties far away from you is just full of risks. “Investing in real estate is long-term and can generate excellent returns. But there’s also a huge chance it’ll be a flop.”Litan Yahav Guest profileLitan Yahav sold a startup, decided to invest a lot of the money he made into real estate - mainly syndications- and encountered many (good) problems managing it. That’s what led him to build a new startup to solve his problems and similar problems of millions like him.Vyzer is the platform for investors with complex portfolios to manage cash flows, get insights and build wealth.Worst investment everLitan sold his company and made some good money. He and his co-founder decided to invest in index funds. They also wanted to get into real estate. So they met with friends and friends of friends and friends of their friends. The duo then decided to buy single-family homes in Ohio through a guy who did real estate there.The idea was to work with a property management firm to help find tenants for their single-family homes. The co-founders settled on buying two single-family homes in Cleveland, Ohio. The houses were very cheap; each one was like $60,000.From the moment the duo transferred money to the title company and bought the homes, it became one long sequence of bad events involving tenants and the municipality. Some tenants refused to pay rent, and others destroyed their homes. The municipality forced them to fix things that were under its responsibility. Eventually, the two decided to cut their losses and sell the properties.Lessons learnedInvesting in single-family rental properties is never really passive.Buying a single-family home is riskier than investing in an apartment block.Apartment blocks, unlike single-family homes, allow you to diversify your risk across different tenants.Understand the implications of buying property abroad.Andrew’s takeawaysBuying properties far away from you is just full of risks.Actionable adviceAlways be in that mindset that investing in real estate is long-term and can generate excellent returns. But there’s also a huge chance that it will be a flop.Litan’s recommended resourcesLitan recommends reading the book Never Split the Difference: Negotiating As If Your Life Depended On It to understand the art of negotiating. This is because everything in our life is based, at the end of the day, on our ability to negotiate.No.1 goal for the next 12 monthsLitan’s number one goal for the next 12 months is to secure another round of funding so he can scale his business to bring value to as many people as possible.Parting words “You’ll never learn if you don’t fail. So take yourself out of your comfort zone and find a way to fail so that you can get better.”Litan Yahav [spp-transcript] Connect with Litan YahavLinkedInTwitterFacebookWebsiteAndrew’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: Chris Do is a self-described loud introvert, recovering graphic designer, middle child, serial entrepreneur, Emmy award-winning director, educator, and founder of TheFutur.STORY: Chris’s business was based on the West Coast, and they wanted to expand to the East Coast for a bigger market share. So they opened a small office hemorrhaging money and didn’t generate substantial revenue.LEARNING: You can’t export your core competency. Optimize your business before you scale. “Optimize your business before you scale. Because when you scale, you scale all the success and all the mistakes.”Chris Do Guest profileChris Do is a self-described loud introvert, recovering graphic designer, middle child, serial entrepreneur, Emmy award-winning director, educator, and founder of TheFutur.Chris has an audacious mission of teaching one billion people how to make a living doing what they love.Worst investment everChris’s company was a West Coast LA-based motion design firm. They realized that for the business to get the market share they wanted, they needed to have an East Coast office. They rented a small office and renovated it. They hired an office manager, an executive producer, and a creative director to run it for them. No one from the West Coast office wanted to live on the East Coast. So they had to run two offices incurring double the expenses, but we’re still not growing their revenue. Now they were shrinking profit.This happened over five years. The company was putting more money into the East Coast office year after year with no reliable revenue. Ultimately, they closed the office because it didn’t work for them.Lessons learnedDon’t put good money after bad.You need to export your core competency.Optimize your business before you scale.Do an accurate cost-benefit analysis and understand your risk.Andrew’s takeawaysYou can’t have someone else fight your battles; you’ve got to be on that front.Always consider all the possible risks when you’re looking at expanding your business.Get monthly, accurate, and on-time financial statements.Actionable adviceBefore you expand your business, question your assumptions and analyze whether the effort is worth the risk.No.1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to launch his mastermind, a high-level group for people making between one to 5 million a year. [spp-transcript] Connect with Chris DoLinkedInTwitterInstagramWebsiteBookAndrew’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: Cesar Hasselmann is an author, mentor, coach, and business consultant.STORY: Cesar started a very successful gas and supermarket distribution network when he was only 16 years old. Unfortunately, about three years later, his country’s president stole public funds and caused most businesses, including Cesar’s, to suddenly collapse.LEARNING: Challenges make you a better entrepreneur. Everything has a time. Understand the macro environment. “Make your business and life work for you, not the other way around.”Cesar Hasselmann Guest profileCesar Hasselmann is an author, mentor, coach, and business consultant. After helping multinational and international companies adjust and succeed in their projects, he began to branch out and help small to medium business owners achieve success and founded AMH Consultancy.Worst investment everWhen Cesar was 16, he started his first distribution business in Brazil. His family knew some business people who owned industries, and he got to distribute their products through different channels. One of the most successful channels was a small gas station he’d started.Later, Cesar opened several gas stations and now had a successful network. This opened more opportunities for him, and he started selling for all the big gas station brands, like Shell. Cesar asked his brother to join him in the business as a partner. His brother left his job at Coca-Cola and joined him. The brother took over the supermarket distribution channel.The business grew, and they started adding more products. The two brothers were experiencing great success until the president stole public funds with the excuse of paying the country’s debt. Everything started to collapse, and the whole country was scrambling. The only money businesses could hold was the new money coming in because the money they had saved was gone—this crippled Cesar’s business.Lessons learnedChallenges make you a better entrepreneur.Everything has a time—be mindful of making decisions too late or too early in the process.Don’t start a business if you don’t know where you’ll end up or how it will impact your life in the next 20 years.Work today on the things you want to see happen. Don’t wait for tomorrow. It’s too expensive, time-consuming, and stressful.Andrew’s takeawaysUnderstand the macro environment.Understand the currency you’re using and what’s going on with it.Investing is about risk, and sometimes bad things happen without warning.Actionable adviceKnow your magic numbers. Also, have your plan in place. So if you have a family business, you must have a succession, acquisition, or sales plan. You need to be ready to sell every day.Cesar’s recommended resourcesCesa recommends reading his upcoming book, The Life Break Through (available in the next 30 days). This book is about business, family, and personal cycles. Cesar broke down these cycles to allow people to understand their different emotions and their impact on their businesses.No.1 goal for the next 12 monthsCesar’s number one goal for the next 12 months is to have two properties—100% percent paid out—and $1 million in his bank account.Parting words “Make the best use of my experience to put yourself in the place where you’re fulfilled and have a better life.”Cesar Hasselmann [spp-transcript] Connect with Cesar HasselmannLinkedInTwitterInstagramWebsiteAndrew’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: Michael Bungay Stanier is the author of seven books that have sold over a million copies between them. He’s best known for The Coaching Habit, the best-selling coaching book of the century and already recognized as a classic.STORY: Michael had $5,000 that he wanted to invest. He tasked his wife with finding the most suitable investment option. She found e-trading. They opened an online account and bought one share from about 20 companies. When it was time to sell, they lost almost half the remaining value of the portfolio to selling fees.LEARNING: If you’re struggling with investing, find a trusted financial advisor to manage your investments—separate creating wealth from growing wealth. Understand the nature of the markets before you invest. “If you’re not going to be good at this, find somebody else who is. Then go find something else you can be good at.”Michael Bungay Stanier Guest profileMichael Bungay Stanier is the author of seven books which between them have sold over a million copies. He’s best known for The Coaching Habit, the best-selling coaching book of the century and already recognized as a classic. His new book, How to Begin, helps people be more ambitious for themselves and for the world. Michael was a Rhodes Scholar and plays the ukulele badly. He’s Australian, and lives in Toronto, Canada.Worst investment everIn 2000, Michael was finally earning enough salary to invest some of the money. He had $5,000 that he wanted to invest. He talked about it with his wife and asked her to find out how best to invest the money.Michael’s wife returned with a plan to do e-trading, where they could set up an investment account online and buy stocks. This sounded like a great plan. They set up an account and purchased one share from 20 companies they liked. Over time, none of the shares increased massively, so they decided to close the portfolio. This meant they had to pay a fee for every share they sold. So they not only lost money on the portfolio but also lost about half the remaining value of the portfolio to the costs of selling.Lessons learnedIf you’re struggling with investing, find a trusted financial advisor to manage your investments.Don’t buy just one share of a company.Understand how the fees you pay will influence your investment portfolio.Understand the story you have around money and how you grew up influences your relationship with money.Andrew’s takeawaysMany people go into the stock market thinking they’re going to create wealth when they should focus on growing it.Try to understand the context of where things are in the markets before you invest.Before you invest, ask yourself if you have an interest in investing, you have the time and the knowledge. If you don’t have these things, keep it simple, like buying a fund that owns every stock in the world.Hiring a professional financial advisor to work with can bring you great value.Actionable adviceThink about what you want to do with money. What does success with money look like for you?Michael’s recommended resourcesMichael recommends checking out resources on MBSWorks if you’re interested in figuring out the next big thing for you and how you might claim ambition for yourself in the world.No.1 goal for the next 12 monthsMichael’s number one goal for the next 12 months is to move into claiming writer more thoroughly as an identity.Parting words “If you take one thing away from this conversation, may it be to learn to stay curious a little bit longer.”Michael Bungay Stanier [spp-transcript] Connect with Michael Bungay StanierLinkedInTwitterYouTubeWebsiteBooksPodcastAndrew’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: Dr. Robert Glover, coach, speaker, and educator, is a relationship expert with over 40 years of professional experience.STORY: Robert went shopping for a pop-up trailer, and when he found one, he bought it before inspecting it thoroughly. His gut told him this was a terrible idea, but he ignored it. The trailer turned out to be useless to him. He sold it off for half what he’d paid for it.LEARNING: Listen to your intuition. Suffering is also the path to joy. Don’t get too attached to anything. “Have a wisdom council that you go to when you have to make important decisions.”Robert Glover Guest profileDr. Robert Glover, coach, speaker, and educator, is a relationship expert with over 40 years of professional experience. The author of the groundbreaking, No More Mr. Nice Guy, Dr. Glover has helped thousands of men and women worldwide get what they want in love, sex, and life.Worst investment everIn the early 90s, Robert was a poor entrepreneur trying to build his counseling practice. Money was tight at the moment. His family vacations were camping. Robert really wanted something that would accommodate the family, but he didn’t have much money.Robert decided to buy a camping pop-up trailer. He knew he couldn’t afford a new one, so he started looking on Craigslist and found one. Robert had saved up about $1,000. He took his wife, and they went to look at this particular trailer. It was an old Coleman hardshell pop-up that seemed like just what he was looking for. It was old but not terrible. Robert thought he could fix it and give his family something to camp in. So he talked with the owner, reached a deal, and signed off on it. When it was time to crank the trailer up, it refused. Robert felt uneasy but had already agreed, signed the sales paper, and handed over the money. He was already visualizing how he could pimp up the trailer and go on camping trips. But something just felt wrong. Unfortunately, he overrode that feeling.Robert managed to get the trailer home, but it was a challenge to get the pop-up raised. He then started working on the trailer, got it fixed up, and finally, on the United States Memorial Day, Robert’s family joined some friends who had a pop-up camper trailer. They went out camping at the ocean shores in Washington State. It rained all weekend long. When Robert tried to get the pop-up down, it refused. The best he could do was to get the lid down. The cogs for the wheels that make it go up and down were faulty.When the family returned home, Robert put the trailer in the garage. He tried to replace the faulty parts for weeks, but none of the dealerships sold them. So the trailer sat in his garage for a long time as a painful reminder that he’d ignored his gut. He advertised it, and luckily, somebody came in and bought it for about half what he’d paid for it.Lessons learnedTake advantage of opportunities when they come but don’t get too attached to a specific outcome and override your senses.Listen to the intuitive sense within you.Check in with people who know you well. Tell them what you’re thinking and feeling, and ask them for their feedback.Suffering is also the path to joy. The mistakes you’ve made that caused you to suffer can be transmuted into joy and better decisions.Andrew’s takeawaysTry to raise your awareness of intuition because that’s the first indication of whether something’s good or bad.Make sure you’re not attached to objects or relationships because things come and go. So don’t try to hold them too tightly.When trying to make a decision, talk to someone before you act.Listen to your intuition.Actionable adviceStart building a wisdom council when you’re 16. Find somebody who can ask you the right questions and let you make your own mistake. Your council shouldn’t consist of your friends, who are just as stuck and clueless.Robert’s recommended resourcesRobert recommends reading books by Thích Nhất Hạnh, a Vietnamese monk nominated for Nobel Peace Award by Martin Luther King, Jr.No.1 goal for the next 12 monthsRobert’s number one goal for the next 12 months is to build a membership community and make it available to everyone on the planet, regardless of age or income, where they can find a tribe, community, and resources. He also plans to finish three more books that he’s working on.Parting words “Thank you. This has been fun.”Robert Glover [spp-transcript] Connect with Robert GloverLinkedInYouTubeWebsiteBookAndrew’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 SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast