My Worst Investment Ever Podcast

BIO: Alex Gruye and Assaf Arie are real estate property management brokers in Twin Cities, Minnesota. They’re partners at Lion Rock Property Management who handle real estate investments, manage portfolios, properties, etc.STORY: A group of gentlemen approached Alex and Assaf to manage some single-family homes they had invested in. These properties started as a bad investment, but the duo restored them and turned them into tier-one properties. They later sold them for double the money the gentlemen had invested.LEARNING: Proper due diligence is paramount. Have the proper team with the right experience to help you pick and manage your property. “Talk to a seasoned property manager; they’ll get you a lot of insight on the market.”Alex Gruye and Assaf Arie Guest profileAlex Gruye and Assaf Arie are real estate property management brokers in Twin Cities, Minnesota. They’re partners at Lion Rock Property Management that handles real estate investments, manages portfolios, properties, etc., and all of the headaches that come along with it.Worst investment everA group of gentlemen who had made their first multifamily investment in a couple of single-family homes came to Alex and Assaf for their property management services. The homes were in a less desirable, tougher side of town known for its problems.The owners had purchased the property blindly and with a lot of excitement, but it turned out to be their worst investment ever. The homes were in a poor state when Alex and Assaf started managing them. They received 14 pages of citations that were never even disclosed through the underwriting process. There were units where all of the windows were broken, and they had to replace every stove, every refrigerator, and every AC unit in all 20 units.Alex and Assaf planned to turn this from the worst investment ever to the best one ever. The properties were a tier-three, and they worked them up to a tier-one. The plan was to recommend the owners sell the property after getting them to tier one. There were months of management where they held their bill essentially to make sure the properties kept afloat and got where they needed to be to sell them for profit. They did this because they knew money was going to come in once they sold them. They knew they had to go in and push to get the units to look nice and spent an upward of $25,000 to make this happen.They were able to sell the units, and the owners doubled their money. They turned something that was literally from day one the worst nightmare to an investment that brought in double the money.Lessons learnedIn real estate, proper due diligence is paramount.Have the proper team with the right experience, especially when getting your property.Understand the area the property you want to buy is in. Visit the area at different times of the day and see what it is like; talk to the neighbors and inspect every unit before you buy it.Know the nuances of the investment. Understand how it works, know how to operate it, understand the market drivers and the opportunities in the area. Also know the risks.Andrew’s takeawaysIt doesn’t matter what the investment you’re getting into; you’ve got to do your research to understand it and make sure it’s a worthy investment.When buying property and you don’t have a lot of experience in real estate, go and meet experts in that area and talk about it before you buy the property. This way, you will understand a lot of elements involved in the purchase that you may not have expected.Actionable adviceTalk to a seasoned property manager; they’ll get you a lot of insight into the market.No. 1 goal for the next 12 monthsAlex’s number one goal for the next 12 months is to stay healthy, keep positive every day and continue on the path of helping investors with their purchases. Assaf’s goal is to make a 1% improvement daily and continue refining himself a little bit.Parting words “Your worst experiences are going to be your funniest jokes 10-15 years later, so take it easy when they happen.”Assaf Arie [spp-transcript] Connect with Alex Gruye and Assaf ArieAlex LinkedInAssaf LinkedInAndrew’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: Neivia Justa is a journalist, entrepreneur, speaker, mentor and teacher, founder and leader of JustaCausa, with 30 years of experience as an executive in communication, culture, diversity, equity, and inclusion, in leadership positions at companies such as Timex, Natura, GE, Goodyear, and J&J.STORY: Neivia turned down an invite to move to Ohio when the company she was working for moved. Afraid of being unemployed, she took the first job offer she got without doing any background research on the company. It turned out to be the most sexist company ever, and she quit after just three months.LEARNING: Don’t take just any job you get because you’re afraid of being jobless. Always stand up for yourself and what you believe in. “If you learn to stand out for yourself, you get stronger.”Neivia Justa Guest profileNeivia Justa is a journalist, entrepreneur, speaker, mentor and teacher, founder and leader of JustaCausa, with 30 years of experience as an executive in communication, culture, diversity, equity, and inclusion, in leadership positions at companies such as Timex, Natura, GE, Goodyear, and J&J.Creator of #líderComNeivia program and the social media movements #ondeestãoasmulheres and #aquiestãoasmulheres, she was the winner of Troféu Mulher Imprensa (Women’s Press Trophy) and Prêmio Aberje in 2017 and, in 2018, was elected one of LinkedIn Brazil Top Voices.Worst investment everIn 2015, the company that Neivia was working for relocated its offices from Latin America to Ohio, and she was invited to move there. However, she was not sure she wanted to leave one of the biggest cities in the world and move to a small town. She dilly-dallied with her decision for about six months when her boss insisted it was time to decide.Neivia decided not to move to Ohio, much to her husband’s disappointment, as he dreamed of living in the US. Her husband was not pleased with her decision and didn’t speak to her for a month.Now that she decided to stay, it meant that Neivia would be jobless soon. Because she didn’t want to be unemployed, she took the first job that she got. During the job interview, some red flags indicated that this wasn’t a good company to work in, but Neivia hardly paid any attention to them. She simply wanted to get the job, and she did.The company turned out to be sexist, and the boss was the worst she’s ever worked with. She quit after just three months because she couldn’t stand it.Lessons learnedDon’t accept any job that comes along just because you’re afraid to be unemployed.Before accepting a job, understand the company’s purpose, talk to people who have worked there or still work there and look at how the leaders behave, think, and treat people.Andrew’s takeawaysStand up for yourself and for what’s right.Actionable adviceWhen looking for a job, pay attention to the people working for that company because companies are made by people, and those people build the culture. A healthy culture is created by healthy people who respect others and want to collaborate and serve people.No. 1 goal for the next 12 monthsNeivia’s number one goal for the next 12 months is to connect and help develop true leaders that love people and who want to assume their responsibility to make our world fairer, more equal, and more sustainable. [spp-transcript] Connect with Neivia JustaLinkedInFacebookYouTubeBlogAndrew’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: MD Imdadul Islam (Imdad) is a business strategist, speaker, and collaborator. He collaborates with CEOs, CXOs, sales leaders, Realtors, and Financial Advisors to help them grow via Personal Branding, Social Selling, and Employee Advocacy.STORY: Imdad met a guy who sold him on the idea of investing in his online business. He borrowed money from his mom and put it into the company. He received some returns the first two months, but after that, the guy went mute. Eventually, he learned that the company had closed shop, and that’s how he lost his six-figure investment.LEARNING: Never invest with borrowed money. Know the business well before you invest in it. “Don’t borrow money to invest because that’s not your money to lose.”MD Imdadul Islam Guest profileMD Imdadul Islam is a business strategist, speaker, and collaborator. He collaborates with CEOs, CXOs, sales leaders, Realtors, and Financial Advisors to help them grow via Personal Branding, Social Selling, and Employee Advocacy.He has gained experience in the consulting profession by working with a number of Group Companies, SMEs, and Startups in Bangladesh.Worst investment everImdad was always interested in becoming an investor. So he’d network with many people and talk to his seniors about their investments and how they do it. He met a guy who shared an investment opportunity at a company dealing with some online business. Imdad didn’t understand much about the business, but he believed the guy when he told him they could multiply his investment.Imdad went to his mom and asked her to lend him money to invest in the business. His mom loaned him a six-figure amount, which was quite a big deal because she wasn’t rich, but she trusted Imdad.He took the money and invested it in the business. Imdad got some returns the first two months, then suddenly there were no more payments. His friend told him that the business was just going through typical business hurdles and would bounce back.When the payments didn’t come through for a couple of months, Imdad visited their office only to find the company had shut down. His calls went unanswered, and soon enough, he realized he had been scammed.Lessons learnedBefore you invest, learn about the business. Understand how the company makes money, where your investment will go and if the company can generate a return for itself and you.Never invest by borrowing money because that’s not your money, and should you lose it, the loss will be twice-fold.Andrew’s takeawaysBe careful when a stranger or someone you barely know comes to you with an investment proposal. Such people are experts at playing on your emotions and will often scam you.Actionable adviceAt least have a basic idea of what you want to do before you do anything, not just in investment but in everything in life.No. 1 goal for the next 12 monthsImdad’s number one goal for the next 12 months is to add value to more people and help them grow their personal brand.Parting words “The best investment you can ever make is in yourself.”MD Imdadul Islam [spp-transcript] Connect with MD Imdadul IslamLinkedInFacebookYouTubeBlogAndrew’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: Chatchai Unrasmeewong is a financial advisor at FINLAB, a financial advisor group that helps clients reach their financial goals.STORY: Being a board game enthusiast, Chatchai decided to partner with a friend and open a board game cafe when he was in university. His target was students at local universities, so he picked a location next to one of the universities. The cafe did well but after one month schools went for a 3-month holiday break and the business could not withstand such a long break.LEARNING: Always sign a shareholder’s agreement when getting into a business partnership. Research your market thoroughly before launching your business. “Spend enough time studying the market if you want to run a successful business.”Chatchai Unrasmeewong Guest profileChatchai Unrasmeewong is a financial advisor at FINLAB, a financial advisor group that helps clients reach their financial goals.He has a bachelor’s degree in finance from Thailand’s Kasetsart University. For two years after graduation, he worked as an assistant to the president of a private company. Then he pivoted to pursue his dream job of being a flight attendant. At that time, he also started his first business, which was a board game cafe.His passion is to apply his experience from past careers, knowledge, and abilities to advise people to understand their finances of life and achieve their financial goals.Worst investment everChatchai has always been very passionate about board games, and when he was in university, he decided to make money out of this hobby. He approached a good friend and asked him to partner with him and open a board game cafe. Chatchai borrowed about $2,000 from his mom to fund the partnership.Chatchai did some market research for a month and found a location near a university that he felt would be perfect for the cafe because he wanted to target students. The first month of business was great, and the students loved the cafe. Schools were then closed for three months, and it was a struggle. When schools reopened, Chatchai had to market the cafe all over again, and it was a struggle for him to keep the business afloat. His business partner had gotten a full-time job, so he wasn’t helping much.After a few months, Chatchai’s business partner suggested closing the business because they were making losses. Chatchai agreed, albeit reluctantly.Lessons learnedDo thorough market research to understand the market first before you launch your business.Have a shareholder’s agreement, especially when partnering with friends.Andrew’s takeawaysThere’s nothing wrong with writing down a shareholder’s agreement between partners and agreeing upon what to do should something happen to one of the partners, as well as your plan for your shares.When opening a retail business, choose your location wisely because it could make or break your business.Actionable adviceBefore you make any investment, you need to spend enough time studying the market because you won’t run a successful business without that knowledge.No. 1 goal for the next 12 monthsChatchai’s number one goal for the next 12 months is to use his knowledge to educate and encourage other entrepreneurs.Parting words “Learn from our worst investment mistakes, and you’re going to be better.”Chatchai Unrasmeewong [spp-transcript] Connect with Chatchai UnrasmeewongLinkedInFacebookAndrew’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: James Neilson-Watt is the CEO of Patients & Profit, which teaches health professionals how to run successful businesses to create more impact.STORY: James suffered from chronic panic and anxiety attacks, and for years he allowed this to hold his life back. Eventually, he decided to face his fears head-on and has been on a journey of healing since.LEARNING: Learn from people’s mistakes. Find good mentors to guide you. “Things that you have no control over will always happen. But suffering is optional.”James Neilson-Watt Guest profileJames Neilson-Watt is the CEO of Patients & Profit, which teaches health professionals how to run successful businesses, so they create more impact.James is also the author of “Healthcare Business Secrets-A step by step guide to growing a wildly successful healthcare business.” He is a health Professional himself, having practiced in and run his own healthcare business for a number of years before transitioning into the coaching space.James has been featured in Yahoo Finance, LA Weekly, NY Weekly, and other publications and has worked with hundreds of healthcare business owners in over 15 countries, helping them increase their revenue by over $20,000,000 per year collectively and helping 10’s of thousands of patients in the process.Worst investment everJames suffered from chronic panic and anxiety attacks for over 20 years. He would experience crippling terror that held him back from living life to the fullest.It wasn’t until James let go and decided to face his fears that he could wade his way out of it. It hasn’t been an easy journey, but he did it.Lessons learnedThe only way to get from where you are to where you want to be is to find people who have done it and learn from their mistakes.Find good mentors that can guide you and learn from them.Actionable adviceIf you’re feeling depressed, take time to be curious and think what a non-depressed version of you would want to be. What decisions would you make? What beliefs would you hold? Think more about that to bring positivity to your life.No. 1 goal for the next 12 monthsJames’s number one goal for the next 12 months is to triple our client volume in our businessParting words “You have more control than you think you do. We all can achieve more, but it’s our choice as to whether we will. So go and be resourceful.”James Neilson-Watt [spp-transcript] Connect with James Neilson-WattLinkedInFacebookYouTubePodcastBookAndrew’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: Tim Hyde is a fixer, a business growth strategist, an Infusionsoft Certified Partner, and is Australia’s leading authority in sales and marketing automation for small businesses.STORY: Tim regrets spending years trying to live up to what he thought were other people’s expectations of him instead of living the kind of life he wanted.LEARNING: Stop trying to conform to other people’s expectations. People don’t think of you as much as you think they do. “Who is the person you really want to be, and are you being true to that or just being who you think people want you to be?”Tim Hyde Guest profileTim Hyde is a fixer, a business growth strategist, an Infusionsoft Certified Partner, and is Australia’s leading authority in sales and marketing automation for small businesses.He works with business owners on their sales and marketing strategy, with a particular focus on optimizing their sales lifecycle and marketing automation.He provides the advice, support, and tools his clients need so that their business gives them more time, money, and freedom.Worst investment everTim spent a lot of his teenage years building sales enterprises and other side businesses. However, he still went down the familial path of expectation that when he finished college, he’d go to university and then get himself a job.No matter how much Tim succeeded with his enterprises, he kept falling back to this expectation of who he should be, rather than being true to himself. He believes his worst investment ever is the years he spent at university trying to meet the expectations he thought other people had of him.Lessons learnedStop trying to conform to other people’s expectations because you end up losing opportunities to explore and express who you are and the impact you have. Do what feels right to you, not what you think other people want you to do, and you’ll be happier.Andrew’s takeawaysIf you want to get something, you have to take a risk. You won’t go far if you stay in your safety net.We imagine all kinds of things of what other people think of us, and the reality is that that’s all in our mind because people are thinking a lot less of us than we think they are.Actionable adviceWhen you look at yourself in the mirror every single morning, ask yourself who is the person you really want to be and if you’re true to that. Then ask yourself if those are your expectations of yourself or your perceptions of what you think other people expect from you. Secondly, look at how you project your expectations on others and ask yourself if it’s your expectation of what you want for them or you’re enabling them to be the best that they can be.No. 1 goal for the next 12 monthsTim’s number one goal for the next 12 months is to enable other people to be their best now through his business and help people build more resilient and effective businesses.Parting words “Take advantage of the resources around you to live your best life and leave a legacy.”Tim Hyde [spp-transcript] Connect with Tim HydeLinkedInTwitterWebsiteAndrew’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: Jenny Wilde has over 15 years of hands-on experience as a senior manager in humanitarian response and an innovation expert.STORY: Jenny saw the need to set up an Innovation Fund to support innovative ideas to make their emergency response easier and more effective. Unfortunately, company politics took over, and the fund was scrapped off.LEARNING: Embrace complexity when dealing with innovation. “Different problems in different innovations require different tools and methodologies.”Jenny Wilde Guest profileJenny Wilde has over 15 years of hands-on experience as a senior manager in humanitarian response and an innovation expert. She has supported innovative organizations and initiatives in countries as diverse as the USA, South Sudan, and Nepal. She has pioneered initiatives that break from conventional innovation models and enable global scale.Worst investment everJenny was the operational director of emergency response in the Philippines, responding to a large typhoon, Typhoon Haiyan, that had ripped through the country’s center. Everyone was trying to make decisions and get stuff out of the door without a lot of deeper thinking. Jenny thought that her organization needed an innovation fund that would help bring to light any innovative ideas that would make their work easier. So they got the money and a team together and set up the fund.Within no time, the fund got political, with everyone wanting to take credit for the idea while, in reality, doing nothing. It was stressful for Jenny because she was heavily invested in the idea. Essentially the Innovation Fund got scrapped because of politics.Lessons learnedYou’ve got to simplify the problem. Make it as simple as possible, and then work with it.When you’re innovating around complex problems, you need to step back and take in all that complexity to do transformational shifts.Andrew’s takeawaysEmbrace complexity because there will be problems that you need to solve that are very complex.Think about the balance between the long term versus the short term. Which one works best for your current environment?Your idea should fit the company’s culture; otherwise, people will only shoot it down.Actionable adviceIf you want to go big and create something that’s really transformational, you should be using systems innovation and the tools associated with that. Don’t harm yourself with small ideas and small innovation traps.No. 1 goal for the next 12 monthsJenny’s number one goal for the next 12 months is to help people create big shifts in their industries.Parting words “Thanks, and good luck on the next investment.”Jenny Wilde [spp-transcript] Connect with Jenny WildeLinkedInTwitterWebsiteAndrew’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: Chris Franzen has been a hotelier for over two decades, having worked in the US, Europe, Middle East, and Asia.STORY: Chris saw an advert during the football World Cup a few years ago for a company he was unfamiliar with. He was intrigued by this unknown company that could afford to advertise in the World Cup. He did a bit of research and decided to invest in it. The stock went up for a few days but later plummeted to a point the company folded, and Chris lost his entire investment.LEARNING: Invest in industries you’re familiar with. Do thorough research before you invest. “When picking stocks, pick those in industries that you understand well.”Chris Franzen Guest profileChris Franzen has been a hotelier for over two decades, having worked in the US, Europe, Middle East, and Asia. He learned his trade from the ground up as a chef before rising through the ranks and being appointed Area Vice President with Hyatt Hotels. In July 2021, Chris opened his own company, advising operators and owners in the field of luxury hospitality.Worst investment everChris was watching the football World Cup a couple of years ago when he noticed this unfamiliar energy company whose ads would keep popping up every now and then. Seeing as the unknown company was paying millions to advertise at such a high-level stage, Chris imagined that it must be a reliable company.So after a few days, he decided to do some basic investigation and found out it was a Chinese green energy company dealing with solar panels. It was one of the biggest solar panel producers and had unsigned contracts in the pipeline all over Asia. Chris thought this must be an excellent investment, especially because the stock was marked as undervalued. He went ahead and bought stocks worth several thousands of dollars.About two, three days later, the stock rose, and it was a fantastic investment. After that, Chris didn’t pay much attention for the next few weeks. Suddenly, the stock plummeted day after day. Chris is not a panic seller, so he held onto the stock and waited for it to recover. But unfortunately, for this stock, it kept going down and never recovered. In fact, after about nine months from the day he bought the stock, the company ceased to exist, and he lost all the money he had invested. This remains his worst investment ever.Lessons learnedYou have to scrutinize what you invest in thoroughly. What security do you have if the company defaults?Do thorough research of companies that you want to invest in more so if they are new.Andrew’s takeawaysJust because a company can afford to be out there doesn’t mean anything. Big companies can fail, and sometimes they can fail fast.If you invest in the overall stock market, it’s going to go down at times, but it’s going to recover. But with individual stocks, some of them can go down and never recover.Actionable adviceInvest only in companies that are in industries that you understand really well.No. 1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to ensure his new company gets a decent foothold and build a good reputation. He also hopes that COVID will finally be over sooner or later so people can go back to traveling and enjoying themselves. [spp-transcript] Connect with Chris FranzenLinkedInBlogWebsiteAndrew’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: Daniel Chan is a pre-IPO PayPal financial operations employee who became a magician, and now he’s pivoted to Zoom. He has performed over 390 virtual shows since last year.STORY: As one of the first employees of PayPal, Daniel was granted about 10,000 stock options. When he left the company, he dumped his stocks for a more diversified portfolio. Daniel would have been worth close to $5 million if he had kept everything, but he bought many other things that didn’t earn him that much.LEARNING: Invest in things that you buy and use regularly. Diversifying doesn’t mean selling what you have; it means putting additional money into something else. “Learn how to read the income statement, understand profit and loss, debt-to-equity ratios, and P/E ratios.”Daniel Chan Guest profileDaniel Chan is a pre-IPO PayPal financial operations employee who became a magician, and now he’s pivoted to Zoom. He has performed over 390 virtual shows since last year. What’s cool is that he has invested in most of the companies that have hired him.Daniel’s clients are literally a who’s who from “A” to “Z.” He has performed for Apple and Airbnb all the way to Zillo. And Google has hired him over 40 times.Worst investment everWhen Daniel was working at PayPal, he was granted about 10,000 stock options with a four-year vest and had to stay at least a year. He stayed for over a year. However, when he left, he pretty much dumped his stocks for a more diversified portfolio.From Daniel’s calculation, he would have been worth close to $5 million if he had kept everything, but he bought many other things that didn’t earn him that much.Lessons learnedDiversify, and when you’re sure about particular stocks, put in a little more into those.Invest in things that you buy and use regularly.Don’t put all your eggs in one basket.Andrew’s takeawaysDiversifying doesn’t mean selling what you have; it means putting additional money into something else.Just because you use a product and believe in the company’s stock doesn’t mean you should put all your money into it. Make sure you diversify.Actionable adviceWhen looking for stocks to invest in, look at things around you that you’re familiar with. Then when you find a few companies that interest you look at the bottom line. Learn how to read the income statement, understand profit and loss, debt-to-equity ratios, and P/E ratios.No. 1 goal for the next 12 monthsDaniel’s number one goal for the next 12 months is to find investors for a magic dinner show and a club in Silicon Valley. [spp-transcript] Connect with Daniel ChanLinkedInFacebookYoutubeTwitterBlogWebsiteAndrew’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: Jacob Roig specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there.STORY: Jacob sold his business and invested in single-family homes. This turned out well for him, but he got convinced to invest in apartment buildings at some point. Jacob didn’t have the time to manage the apartments, and so when the 2008 real estate crash happened, he lost everything, including his over $2 million net worth, and had to file for bankruptcy.LEARNING: Own up to your challenges and seek the help that you need. You don’t need to have a solution; you just need to be willing to try to get back on your feet. “It seems easier not to take a step, but it is so much more painful to stay where you’re at.”Jacob Roig Guest profileJacob Roig specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there.Jacob is a certified business coach, certified firewalk instructor and besides coaching leaders, runs live events that routinely do the impossible, like getting you to walk over broken glass and burning coals. He’s mastered overcoming fears and limitations all of his life.Jacob knows how to face life and business challenges and now teaches and coaches others along the way.Worst investment everJacob decided to become an entrepreneur after working a corporate job for 12 years. In his first 10 months in business, he did $1.2 million in sales. Along the way, he had to learn how to manage projects as well as people. That led him to fulfill his five-year goal in the first year.Being a creative and a driven person, after three years in that business, Jacob was ready to do something different. He sold the business and invested in real estate. He bought single-family homes, and they were working well.One day he went to a seminar and was convinced to buy apartment buildings. One thing he overlooked was how much work he had to put in to manage the apartments. Jacob didn’t have the time to do what was required, so he got into a situation which he ignored and just hoped that the problem would go away without him doing anything.In 2008, the real estate crash happened, and Jacob’s problems with the apartments just got worse. In 2009, he had to file for bankruptcy and lost everything, including his $2 million net worth.Lessons learnedYou may lose your wealth, but you can never lose your knowledge and your ability to get back on your feet as long as you’re willing to try.You don’t have to know what exactly to do; you just need to be willing to try and then take one step.Do what it takes to get the help you need. Holding back will not do you any good.Andrew’s takeawaysYou can’t neglect your way out of the problem; it doesn’t go away if you don’t deal with it.When you’re going through problems and challenges, you have two choices; to face it now or put it off and face it later. If you put it off for later, it will eventually come, so face it now.Actionable adviceIt seems easier not to take a step, but it is so much more painful to stay where you’re at. Any action or step that you take and just the fact that you’re taking this step is a good start.No. 1 goal for the next 12 monthsJacob’s number one goal for the next 12 months is to scale his third seven-figure business.Parting words “Don’t let go of your dream; pursue it and seek the help that you require.”Jacob Roig [spp-transcript] Connect with Jacob RoigLinkedInFacebookYoutubeWebsiteAndrew’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