My Worst Investment Ever Podcast

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 profileSahil Vaidya is the co-founder of 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 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 VaidyaLinkedInTwitterWebsiteBookAndrew’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

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 profileTony 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, Sidehustle Millionaire. He also teaches entrepreneurs how to start, scale, and sell their businesses within his podcast and consulting brand 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 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 WhatleyLinkedInInstagramFacebookWebsiteBookPodcastAndrew’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

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 profileVitaliy 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 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, ContrarianEdge, and in audio format on his 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. 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 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 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 KatsenelsonLinkedInTwitterFacebookYouTubeWebsiteBooksPodcastAndrew’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

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 profileMarylen Ramos-Velasco is the Founder and CEO of 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 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-VelascoLinkedInTwitterFacebookYouTubeWebsiteAndrew’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

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, 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 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 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, How to Buy the Right Business the Right Way has all the tactics necessary to investigate a deal.Both books have 500 different tactics, no theory, no fluff, but tactics that actually happen when people buy businesses.No.1 goal for the next 12 monthsTed’s number one goal for the next 12 months is to keep doing what he’s doing; trying to save the lives and money of people looking for businesses to buy.Parting words “Thanks, Andrew. This was fun.”Ted Leverette [spp-transcript] Connect with Ted LeveretteLinkedInTwitterYouTubeWebsiteBooksAndrew’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

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 profileJerome 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 resourcesJerome’s book Your Dreams Should Be Real provides education, inspiration, and direction to help you realize your wildest dreams.No.1 goal for the next 12 monthsJerome’s number one goal for the next 12 months is to add coaches to his organization who will work with folks who aren’t quite ready to invest at the level it takes to spend time with him weekly. This will help more people start making the progress they want towards their worthy pursuits.Parting words “Your dream should be real.”Jerome Myers [spp-transcript] Connect with Jerome MyersLinkedInInstagramPodcastBookAndrew’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

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 profileEric Sim is the author of 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 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 SimLinkedInBookAndrew’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

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 profileDirek 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 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 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 The Art of Learning: An Inner Journey to Optimal Performance by Josh Waitzkin to learn about his learning principles because learning to learn is a meta-skill in life. Once you figure out how to learn what you want to know, then you can get into any field you wish to.No.1 goal for the next 12 monthsDirek’s number one goal for the next 12 months is to pick one industry, then spend the next six to 12 months reading everything he can about that particular industry and try to develop a good understanding of that industry. Direk’s other goal is to get better at dancing.Parting words “Thank you so much for having me on your show Andrew; it’s a real privilege.”Direk Khanijou Connect with Direk KhanijouLinkedInInstagramPodcastYouTubeWebsiteAndrew’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 PodcastFurther reading mentionedRoger Lowenstein (October 2001), When Genius Failed: The Rise and Fall of Long-Term Capital Management.Josh Waitzkin (May 2007), The Art of Learning: An Inner Journey to Optimal Performance.Annie Duke (October 2020), How to Decide: Simple Tools for Making Better Choices.

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 profileAdam 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 YouTube and TED.com.Adam is the host of the Build A Bigger Life podcast, the curator of MasteryOfMoney.com, and the founder of 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 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 CarrollLinkedInTwitterFacebookInstagramPodcastYouTubeWebsiteBooksAndrew’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 PodcastFurther reading mentionedMichael Easter (May 2021), The Comfort Crisis: Embrace Discomfort To Reclaim Your Wild, Happy, Healthy Self

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 profileRalph 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.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, 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 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 $20,000 on his credit card. He spent another $10,000 to build a website and a membership site. He followed the Jeff Walker Product Launch Formula and launched his membership site.Ralph had a three-day launch. On the first and second days, he made zero sales. On the third day, he made two sales. The product was $67 a month. Out of Ralph’s 10,000-person list, which he had probably spent $20,000 to build, only two people subscribed to his membership site, and they only stayed for a month.Ralph held onto the business for another three years, just trying to make it work. He didn’t sell anything more than those two memberships that lasted one month.Lessons learnedDo your research.Don’t mistake interest in a free lead magnet as interest in actually buying your product.Launch a minimum viable product first to get some sense from the market as to whether or not they can purchase and to get a proof of concept.Andrew’s takeawaysStay with whatever you’re doing, keep trying, keep iterating, and testing.Create a minimum viable product, figure out what people are willing to pay for, and then pivot.Actionable adviceGo to the market with a low price, then increase as your product gets popular. The goal is to make buying a no-brainer so that buyers can’t possibly say no to your product.Ralph’s recommended resourcesRead any book by Donald Miller to learn the basics of selling online, such as how much you should pay to acquire a customer, advertising on online platforms, creating a brand story, and more.Listen to the Perpetual Traffic podcast for more advice from Ralph.No.1 goal for the next 12 monthsRalph’s number one goal for the next 12 months is to double sales and double the number of his high-value employees.Parting words “You learn way more from your failures than you ever do from your successes.”Ralph Burns [spp-transcript] Connect with Ralph BurnsLinkedInPodcastWebsiteAndrew’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 PodcastFurther reading mentioned Eric Ries (September 2011), The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses.