My Worst Investment Ever Podcast

BIO: Emmanuel Michael, a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries.STORY: Emmanuel started a locks business that saw him lose over $30,000. His biggest problem was not testing the market before buying the locks.LEARNING: Test your market first before you launch your product. Always think about how you’re going to get customers. “Find your customers first before you even have your product.”Emmanuel Michael Guest profileEmmanuel Michael (EM), a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries such as multidisciplinary engineering, information technology, hospitality, and financial services, of which over 17 years have been in human resources management practice.Between March and August 2017, he held forth as the Interim CEO & Head of HR at Letshego MFB, a national microfinance bank in Nigeria. He is currently the Head of Human Capital at Letshego Nigeria.Emmanuel is also the Founder & Host of HR with EM–a platform to Connect, Learn, and Share on everything leadership, career development, and employee experience. He is fondly called “The HR Celebrity” by the Nigerian HR community.Worst investment everEmmanuel always wanted to be an entrepreneur. After he had saved enough money, he decided to start a locks business. He immediately ordered some locks and started looking for office space. Once he got a space, he started looking for a market.To market his locks, Emmanuel decided to visit car companies to see if they would buy them and install them in their cars, such that when customers come to buy the vehicles, they would sell the locks as part of the accessories. This didn’t work out too well for him. Next, he decided to hire salespeople. They didn’t bring him much business either.Emmanuel was not able to generate enough revenue even to pay back the first year’s ends rent. He continued until the end of the second year. Teams were getting worse instead of getting better. At this point, Emmanuel had spent about $30,000 on the business and was yet to make any profits. When his rent expired after the second year and the landlord came to ask him to either renew the rent or move out, Emmanuel knew it was time to close shop and count his losses.Lessons learnedBefore you start selling, first research the market to ensure that customers want to buy your product.Talk to the right people as you research your market.Find your customers first before you even have your product.Failures can propel you to your next successful business venture.Andrew’s takeawaysWhen you’re doing marketing, you must test the market. You must also think about your marketing channel. Figure out how you’re going to get to the customer, and once you get to the customer, think about how you’ll convince that customer that this is right for them.Actionable adviceBefore you start any business, do a market test. Get a small group and offer them your service or product and see how they receive it. Tweak it and test it until it’s ready for launch.No. 1 goal for the next 12 monthsEmmanuel’s number one goal for the next 12 months is to have at least coached over 1,000 leaders, career trainers, or job seekers.Parting words “Keep hope alive, don’t give up. It might look rough now, but it will get better tomorrow.”Emmanuel Michael [spp-transcript] Connect with Emmanuel MichaelLinkedInTwitterFacebookYouTubeWebsitePodcastAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Marvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant in the Philippines.STORY: Marvin was enticed to buy his first stock by his colleague who was having good luck with his. Marvin’s luck, however, wasn’t as good. The stock price went down significantly as soon as he invested causing him to lose all his money.LEARNING: Focus on your own way of investing; don’t depend on other people’s gains. Wealth is built over time, not overnight. “Don’t focus on making money in the next eight minutes. Focus on the next eight years.”Marvin Germo Guest profileMarvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant who is among the most passionate personal finance experts in the Philippines.Worst investment everWhen Marvin was starting in the stock market, a colleague told him about a stock he was confident would do well. He, however, took his time and didn’t invest immediately. At the time, the stock was selling at 12 pesos and went to 15 in a couple of days, and then it went to 24. Marvin’s colleague doubled his money. He even borrowed from friends to invest more. Then the stock went to 32 pesos and then fell to 25.Marvin was impressed by his colleague’s conviction because he never stopped investing even when the stock price started to fall. Now he was interested in buying the stock too. His colleague convinced him that it was an excellent time to buy, and he remained optimistic that it would go to 50 pesos. Marvin bought the stock. Then two months later, the stock crashed to 17 pesos. He panicked, but his colleague told him to buy more so that he would break even when the stock goes back up. So he bought more stocks. The price never went up. Marvin sold half his stock at 16 pesos and the other half at 13 pesos.Lessons learnedYou build wealth over time.Don’t wait until you have a lot of money to start investing. Start with whatever you have right now.Take as much risk as possible while you’re young.When you’re investing, focus on your own race, you don’t have to compare your gains with other people’s. You have different starting points, different capital, different risk tolerances, and different timelines.Before buying anything, understand what it is, how much you should put in, and how to exit properly.Andrew’s takeawaysMost people struggle to be an entrepreneur because of the many things they have to deal with.Create, grow and protect your wealth.Most of the time, people are winning in the stock market through luck, not through skill, and therefore, when luck turns, they get hurt.Your business doesn’t always need debt to be valuable.Find something that you know that you can excel in and try to double down on that.Actionable adviceStart investing now and take your time to build wealth. It’s not a sprint; it’s a marathon.No. 1 goal for the next 12 monthsMarvin’s number one goal for the next 12 months is to understand the cryptocurrency space deeply.Parting words “Keep on investing and pushing forward.”Marvin Germo [spp-transcript] Connect with Marvin GermoLinkedInTwitterFacebookYouTubeWebsiteBooksAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Jimmy Lee is a Venture Builder and Humanitarian.STORY: Jimmy and his partner got into a partnership with two other businesses for a huge project that would bring them big returns. One of the businesses wanted Jimmy to collude with them and kick the third company out of the project. He refused and got cut out of the project, losing everything he had invested in it.LEARNING: Get your downpayment at the start of the project. When you receive help, pay it forward. “If you have a firm belief in yourself, and you know what you want to do, you should go for it. Things will come into place eventually.”Jimmy Lee Guest profileJimmy Lee is a Venture Builder and Humanitarian. Believe in yourself, and you can make the impossible possible!Worst investment everJimmy was introduced to entrepreneurship by chance by a friend. He went into it without experience, capital, or contacts—just a law degree and an idea. His first startup was a creative agency doing motion videos. Within four years, he grew the business into a multi-million business.The year 2007 was a very great year for Jimmy and his business partner because they got two huge projects. They were engaged as a contractor for the celebration of the 50th anniversary of Malaysia. Their job was to project the first prime minister in a hologram.The following year, everything fell apart. Jimmy’s company got into a partnership with two other companies. Jimmy got called for a secret meeting with one of the companies and was told not to inform the other company. He went for the meeting with his partner out of curiosity. The value of the project was about 4.5 million Malaysian ringgit. The other company wanted to sideline the third company and divide the profit between their company and Jimmy’s.Jimmy and his partner said no to that idea because it was unethical. A week later, Jimmy’s company got terminated from the project. All the payments he was supposed to receive had been pending due diligence, and now he couldn’t get paid. He lost everything overnight. They had focused on that one huge project for the past few months, and many resources went to it.Lessons learnedDon’t give up even when you face failure and other hurdles.Get your downpayment money at the onset of the project.Andrew’s takeawaysPeople do help people sometimes out of the blue.Once somebody has helped you out of the blue, you have an obligation to pay that forward.Actionable adviceContinue exploring opportunities and learn from your failures and be better. From that, you can do something even bigger.No. 1 goal for the next 12 monthsJimmy’s number one goal for the next 12 months is to set up a venture fund in Singapore. The venture will fund projects focused entirely on food, technology, and social enterprise.Parting words “Do things that are out of the box. Don’t be afraid because sometimes it’s just internal fear. So be bold and mighty force will come to your aid.”Jimmy Lee [spp-transcript] Connect with Jimmy LeeLinkedInTwitterWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Judy Weber is a women’s business strategist and scaling expert, helping six-figure female CEOs take their business to the next level with strategy, systems, and simplicity.STORY: Judy always played small and allowed fear to hold her back from being who she truly wanted to be.LEARNING: Don’t let fear stop you from pursuing your dreams. “Courage is not the absence of fear; it is taking a step forward even in the midst of your fear.”Judy Weber Guest profileJudy Weber is a women’s business strategist and scaling expert, helping six-figure female CEOs take their business to the next level with strategy, systems, and simplicity. Her global client base is outstanding professionals, experts, coaches, consultants, and creatives.A former trial lawyer and c-suite executive turned serial entrepreneur, Judy overcame a lot to get where she is today. A small-town girl from humble means, she did what others thought was impossible as she pursued her dreams without apology. Featured on Fox, ABC, NBC, and CBS, women seek Judy out to learn how to think like a CEO and scale to seven figures!Worst investment everJudy’s worst investment was playing small. She lacked faith and didn’t believe in herself. Even though she was super driven and always wanted to be a lawyer, her lack of self-belief saw her study to be a music teacher instead of a lawyer. It took Judy five years after graduating from college to actually start law school because she was thinking small and didn’t believe she could be a lawyer.Lessons learnedDon’t let fear stop you from pursuing your dreams. Take action in spite of the fear.You’re perfectly imperfect, and you’re enough right now.It doesn’t matter your age, go for it and see what you can accomplish.Andrew’s takeawaysThe possibility of what you can do is beyond your imagination. If you do the next best thing for yourself each day, you’ll be amazed by what you can accomplish.Actionable adviceOpen up your mind to possibilities, and just take “no” out of the equation. If there’s something that you have always had a burning desire to do or to pursue, don’t let anything stop you.No. 1 goal for the next 12 monthsJudy’s number one goal for the next 12 months is to get her two books written and published.Parting words “Pursue the impossible.”Judy Weber [spp-transcript] Connect with Judy WeberLinkedInInstagramFacebookYouTubePodcastFREE Joyful Scaling Strategy ConsultationAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Ted Clouser started in technology at the age of 16 when he formed his own computer business. In 1996, he joined PC Assistance of Little Rock, and he and his wife purchased the company in 2018.STORY: When Ted bought his company, he continued managing it instead of being a leader, leading to a couple of challenges, including a huge debt.LEARNING: Seek counsel when entering a new venture. To succeed, you must put your doubts and fears aside. “Go win today. Make it successful. Don’t worry about tomorrow. You’re going to get out of this one day at a time.”Ted Clouser Guest profileTed Clouser started in technology at the age of 16 when he formed his own computer business. In 1996, he joined PC Assistance of Little Rock, and he and his wife purchased the business in 2018. Within a year, Ted rebranded to PCA Technology Solutions and has expanded to a total of three locations.Passionate about both people and technology, his firm focuses on Cybersecurity, IT Consulting, and Professional Services, Managed IT services, and Voice-Over-IP (VoIP).Married in 1998 to Stephanie, Ted has a daughter at the University of Alabama and a son at Scotland Prep in Pennslyvania.Worst investment everIronically, Ted’s worst investment ever is the company that he’s the CEO of today. He joined PC assistance in 1996 and was fortunate enough to spend his entire career at that organization. Somewhere around 2018, the founder and CEO decided that he was ready for an exit strategy. So they began the conversation. Ted was the executive vice president at the time, had over 20 employees, things were very successful, and he figured it would be a slam dunk to buy the company. This seemed like a perfect transition. It made complete sense.Ted’s advisors warned him that there would be challenges during the transition and changes as he went from VP to President and CEO, and he needed to prepare for them. He was, however, adamant that nothing would change because he’d acted like a president and CEO anyway. He believed it was going to be a smooth transition.So fast forward to January 1, 2018, when Ted took over ownership, it was great. He was on a high, and things were really beginning to fall together. He felt like it was a dream come true, and it was for about six months. Then the nightmare began.For about 20 months after Ted took over, an identity crisis started to unfold. He was in a state of depression, and the process completely changed who he was as a person. He came to realize that he had built a company, over 20 years, that was entirely dependent on him. It did not have any foundation and no processes. He also learned that he had an unhealthy identity with the organization. Ted had always seen himself as PC Assistance, and when he moved into a president and CEO role, he tried to be the vision caster instead of the guy that did it. He was simply managing and not leading his company, and this brought so many challenges, including debts.Lessons learnedSeek the counsel that you need to really think through and plan a new venture.Andrew’s takeawaysWhenever we make a big move in our lives, there are doubts and fears. These can motivate us at times, but ultimately, we have to put doubts and fears aside to be successful.Master the art of listening. Get a piece of paper and a pen and when other people speak, shut up and write down what they’re saying. Challenge yourself only to ask questions and write answers down.When you take over a business or build a new one, start with building cash flow.Actionable adviceTruly seek wise counsel.No. 1 goal for the next 12 monthsTed’s number one professional goal for the next 12 months is to make sure he doesn’t get in the way of what his team is doing. On a personal front, Ted’s goal is to be the best husband and father that he can be.Parting words “Go for it. Dream big, seek counsel, and go win the day, every day.”Ted Clouser [spp-transcript] Connect with Ted ClouserLinkedInPodcastWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: David Walter is an author, speaker, and sales trainer. His claim to fame came from a cold-calling hot streak, during which he set 15 appointments a day for six months straight.STORY: David paid $10,000 and signed the rights to his manuscript to a famous publisher he believed would turn his book into a bestseller. The publisher was a fraud who never delivered any of the things he promised David.LEARNING: Think about your marketing before you even start writing your book. Look for the right person to edit your book. “It’s one thing to be an author, but you also got to know how to market your book.”David Walter Guest profileDavid Walter is an author, speaker, and sales trainer. His claim to fame came from a cold-calling hot streak, during which he set 15 appointments a day for six months straight. He later ran a prospecting call center, helping companies make millions. He is a contributing writer to Entrepreneur magazine. His book, Million Dollar Rebuttal, is a #1 bestseller on Amazon.Worst investment everDavid put all his faith and hope in a publisher that he believed would market his book. He invested $10,000 into the company, thinking he was on his way to fame and fortune being an author. He even signed off the rights of his manuscripts to the company.A few months in, and everything started going wrong. The company wasn’t editing the book, and the book cover they gave him was terrible.Then the company was indicted for fraud and ended up in court holding up David’s manuscript in the process. The company never delivered any of the things they promised David.Lessons learnedFirst, check the Better Business Bureau rating of anybody that you want to work with before you do.Don’t look for a panacea to do it at all. Instead, specialize. If you want a book cover design, go with somebody who specializes in book covers and when it comes to editing, find a good editor for the book.Andrew’s takeawaysWhen you’re vulnerable and trying to do something for your business, it’s so easy to turn over everything to someone else who might not understand your goal.When you’re feeling vulnerable and desperate, slow down and take it all step by step.Actionable adviceThink about your marketing before you even ever write your book. How are you going to get that book out to the world?No. 1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to get into podcasting.Parting words “You can do it if you believe in yourself.”David Walter [spp-transcript] Connect with David WalterLinkedInTwitterBookAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Amit Somani is managing partner at Prime Venture Partners (PVP), a Bangalore-based, early-stage fund. For 20 years before this, he held leadership roles at Makemytrip (NASDAQ: MMYT), Google, IBM Silicon Valley Labs, and IBM Research.STORY: Amit’s company came across this company that had a great product but didn’t have a business model. Amit’s company decided to back it anyway. It didn’t go well. A few years later, they came across another company with a great product and a great team but, again, no business model. Having lost the first time, they decided not to back the second company. It went on to become a unicorn in three years.LEARNING: The same kind of analysis or rigor will not apply every time you’re investing. Don’t just extrapolate from a past pattern. Have repeatability in your investing process. “You can’t borrow conviction; you have to get your own conviction because it’s subjective.”Amit Somani Guest profileAmit Somani is managing partner at Prime Venture Partners (PVP), a Bangalore-based, early-stage fund. For 20 years prior to this, he held leadership roles at Makemytrip (NASDAQ: MMYT), Google, IBM Silicon Valley Labs, and IBM Research. Amit was part of the leadership team that took Makemytrip public on NASDAQ in 2010. He was also the head of various teams focusing on search, mobile, and advertisement products at Google. One of his products, the search-based keyword tool, even won the Google Founder’s Award. Prior to his role at Google, he was the Director for the Enterprise Search and Discovery business at IBM San Jose, California.Worst investment everAmit’s company was looking at a great company around 2015/16. It had a phenomenal product in the women’s health space. They did their usual due diligence, spoke to the entrepreneur, and decided to back the company. However, one thing was missing, which was the lack of a viable business model. They decided it didn’t matter as long as the company was building something that people love.Unfortunately, this was a big mistake. They should have thought a little bit harder about how the business model would come out or the ability of that team to manifest the business model. Things didn’t work out well for the company.Fast forward a few years later. Amit’s company met another fantastic company in the FinTech space. Again, there was no business model, but the product looked great, they had an incredible team, and the market was big in terms of the people they could serve. But still, no business model. Amit’s company decided not to back this one due to the experience they’d had with the previous company. Then it went on to be a unicorn in three years.Lessons learnedThe same kind of analysis or rigor will not apply every time you’re investing. You’ve got to factor in the timing and not overly pattern match because things change, markets change, dynamics change.Evaluate things from the first principle basis. You do not want to just extrapolate from a past pattern.As long as you have repeatability in your process, in your method, in your sourcing, and your checklists, overall, you’re going to be just fine.Andrew’s takeawaysThere’s going to be a point where you’re just going to have to make your play.Actionable adviceIn early-stage investing, you can’t borrow conviction; you’ve got to get your own conviction because it’s subjective. There’s got to be something that’s off the charts that should catch your attention.No. 1 goal for the next 12 monthsAmit’s number one goal for the next 12 months is to launch his new fund and continue investing in a few new areas, including AI, crypto blockchain, and applying that to financial services and gaming tech.Parting words “Be insanely curious, be a learning machine.”Amit Somani [spp-transcript] Connect with Amit SomaniLinkedInTwitterYouTubePodcastWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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 mentionedAtul Gawande (2010), The Checklist Manifesto: How to Get Things Right.

BIO: Marcel Daane is an award-winning executive coach and author living in Singapore.STORY: Marcel built a great gym, but because he thought he was the expert in the field, he became a horrible boss. He wanted to run the show to the point where he burnt himself out. Eventually, he had to leave the business that had taken him 10 years and $500,000 to build.LEARNING: Don’t start believing your own hype to a point where you ignore other people’s insights and opinions. Just because you have strong skills in an area that doesn’t mean you’ll make a great entrepreneur. “When we become over-reliant on what we think, we know we get stuck in our heads.”Marcel Daane Guest profileMarcel Daane is an award-winning executive coach and author living in Singapore.Worst investment everMarcel had a desire to start his own gym, and it took him about 10 years or so of saving. With the help of his wife, he managed to save a quarter of a million dollars. But Marcel needed about half a million, so he went out and sought some partners and managed to raise the half-million. Marcel then built one of the most awesome gyms in Singapore that you could imagine.He built a speed institute with the intent to give everybody an opportunity, including children, to feel like they were athletes. The gym had sprinting lanes and all that kind of stuff in there. But there were no treadmills.When they opened their doors and invited people to see the gym, they all asked where the treadmills were. It was right there and then that Marcel knew there was a problem. The problem was that he had built a gym that was for him, and it took so much energy to get people to buy into it.But where the investment went wrong was actually with Marcel. As a personal trainer, he was extremely passionate about how he did his work. He considered himself an expert in the field, so he treated his partners and staff like they were working for him and it was his way or the highway. Marcel became a horrible boss.With this kind of attitude, it didn’t take Marcel long to burn out. He finally concluded that he couldn’t sustain this way of operating. So he spoke to his partners, and they came to a settlement, and Marcel left the company. He had basically bailed on his own company. Interestingly, the company started doing better after he left.Lessons learnedIf you’re an expert in your field and want to start a business in that field, first check yourself. Make sure that you don’t start believing your own hype because other people around you may be less knowledgeable than you but might have some phenomenal insights that can help your business.Don’t get so determined that you put blinders on and stop opening yourself up to perspectives, ideas, and thoughts from other people.If you think you’re the expert, get other people to put you in check because you’re going to need them.Andrew’s takeawaysGive your customers what they want.Don’t get overconfident in your expertise. Just because you have strong skills in an area that doesn’t mean you’ll make a great entrepreneur.Actionable adviceStop believing that what you think you know is the only option. There are millions of different ways of operating and doing things, and there are ideas out there that you just lock yourself off to by believing in your own hype.No. 1 goal for the next 12 monthsMarcel’s number one goal for the next 12 months is to make sure that his new book The Five Energies of Horrible Bosses and How Not to Become One ends up in bookstores all around the world and in people’s hands. He hopes the book will create a conversation around how we can lead our businesses differently and look at leadership and how we run our businesses from a more human perspective, rather than just being data-driven. [spp-transcript] Connect with Marcel DaaneLinkedInTwitterBlogBookAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Jam Zulueta is a risk expert in the fintech and digital banking space. He is a career and personal finance coach.STORY: Jam failed to invest in himself for a very long time, and for this reason, he missed out on many opportunities in life.LEARNING: Invest in yourself as early as possible. Take risks, learn new things, and you’ll set yourself apart. “The best investment you can make is an investment in yourself.”Jam Zulueta Guest profileJam Zulueta is a risk expert in the fintech and digital banking space. He is a career and personal finance coach.Worst investment everJam’s worst investment ever was not investing in himself early in life. He didn’t try exploring new things or gaining new skills, and because of this, he missed out on many opportunities. It took Jam a long time to discover that when you’re investing, it’s not really about timing the market; it’s about time in the market. The same thing applies when investing in yourself. It pays to learn something early on in life by trying out new things, discovering things, and then getting into that. And once you get good at something, you continue with it for many years, and by the time you’re in your late 20s, 30s, or 40s, you’ll have become quite the expert in that field.Lessons learnedTry out new things, and take those risks not just in the financial ones but also on yourself.Go all-in on yourself. Try something new, do something special, and find what you love.Even if people shoot down your idea, or you make mistakes, keep trying. You only fail if you don’t take the shot.Andrew’s takeawaysStart now, learn something, and you will set yourself apart.Actionable adviceYou may not have that initial momentum to carry you forward but just start, just do it.No. 1 goal for the next 12 monthsJam’s number one goal for the next 12 months is to launch a digital bank he’s currently building. He also wants to increase his learning and focus on his coaching and personal finance career.Parting words “Just get to it.”Jam Zulueta [spp-transcript] Connect with Jam ZuluetaLinkedInFacebookYouTubeAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome 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: Amit Kumar Agarwal is the founder and CEO of NoBroker.com, the world’s largest C2C real estate platform with 13 million customers, eliminating brokers and agents in real estate transactions with a tech-based approach.STORY: Amit decided to be in complete control of his business, and even when he hired people, he hired his juniors, who literally do nothing without him. This kind of control only created bottlenecks, and he couldn’t scale his business until he partnered with a person who had more expertise than him.LEARNING: You won’t scale your business if you keep doing everything on your own. Hire great people and nurture them. “If you want to scale up, then doing everything on your own and trying to control things is a very bad idea.”Amit Agarwal Guest profileAmit Kumar Agarwal is the founder and CEO of NoBroker.com, the world’s largest C2C real estate platform with 13 million customers, that is eliminating brokers and agents in real estate transactions with a tech-based approach. He has raised $151m of institutional funding so far.The NoBroker business model is disruptive, tech-based, capital-efficient, and designed to be scaled globally.Worst investment everWhen Amit first started his company, he was doing everything on his own. From finance to HR to operations. Everything would have to go through him. When it came to hiring people, he hired his juniors and continued making all the decisions.Slowly this blew over for Amit. Everything was over the place. His juniors didn’t understand his business, and he would have to be the one making even the tiniest decisions when trying something new. Amit’s team would get stuck because they had to speak to him before doing anything. Things just started going out of control because Amit couldn’t handle it all.Luckily, Amit was saved from his worst investment ever by a very experienced guy who happened to visit his office. He had gone to the same college as Amit, and they joined hands and ran the company together. Suddenly, there was a tremendous business change. Amit realized that what he needed was people smarter than him.Lessons learnedYou won’t scale your business if you keep doing everything yourself and trying to control things.Hire great people and nurture them.Get expertise in each functional area as soon as possible and give them independence and accountability.Andrew’s takeawaysWhen starting a business, work with the $3 million rule. Think about how quickly are you going to get your revenue to $3 million? With $3 million, you now have the budget to have a proper management team, office, software, and infrastructure to scale your business.If you’re struggling right now and are overloaded and overwhelmed dribbling it all yourself, stop and think about where you’re at. It may be time to reach out, get help, and build your team, so you’re not doing everything.Actionable adviceWe need to continue learning and reassessing our businesses. As the situation changes, you also need to change quickly, and hence you need better people with better expertise.No. 1 goal for the next 12 monthsAmit’s number one goal for the next 12 months is to keep his customers happy, expand into new services, and make them bigger. [spp-transcript] Connect with Amit AgarwalLinkedInWebsiteAndrew’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 ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast