My Worst Investment Ever Podcast

BIO: Jose Salazar is a B2B influencer marketing consultant specializing in optimizing industry and thought leadership marketing through influencer and employee advocacy strategy.STORY: Jose’s twin brother looped him into a brilliant business idea, but due to their lack of startup experience, the business never took off. They were left paying off a loan that brought no return on their investment.LEARNING: Do your research before investing in an idea, even from family or friends. Be mentally ready before investing in a startup and make sure you are not the only or major shareholder. “Don’t spend money unless you’ve got people supporting your business.”Jose Salazar Guest profileJose Salazar is a B2B influencer marketing consultant specializing in optimizing industry and thought leadership marketing through influencer and employee advocacy strategy. He is currently responsible for growing the US business at Onalytica with a mission to help businesses drive awareness, credibility, and trust across the globe.Worst investment everJose’s worst investment ever started four years ago. He was having a chat with some friends about investing. He gathered a lot of information from different friends, and this piqued his interest in investing. So when his brother talked to him about this business idea he had, he was all ears.The brilliant innovative ideaJose’s brother’s idea was to start an online recruitment platform for the hospitality industry. He had looped in 25 people who were also interested in the concept. They had rounds of meetings for a year but were yet to get started.Putting money where their mouths areAfter a year, they decided that it was time to put money where their mouths were. At this point, everyone left apart from Jose, his brother, and one other friend.The three decided to form a partnership, contributed about $2,000 each, and got the ball rolling. They paid a designer to create a website and put money into social media advertising.Getting a loan to fund the startupAfter a while, they realized that they needed more money, and so the partners went to a startup-loan company for a loan. So unlike a typical business loan where all shareholders bear the loan burden, a startup-loan business means owners pay from their personal finances.No clue how to run a businessThe three partners continued to build upon their business idea. None of the three had any experience running a startup, and even though they had managed to get several clients to sign up, they were putting in more of their money than they were making. Eventually, Jose spoke to his business partners, and none of them was very keen on running the business, so they folded it.Lessons learnedDo your research before investing in an idea, even from family or friendsWhen someone comes to you with an investment idea, whether a friend or family member, do your research before putting in your money. Find out the returns and business forecast. Do everything you need to do to make sure the business is efficient.Be mentally ready before investing in a startupMake sure that you are mentally ready to run a startup. Also, you need to make sure that you have the time, put up with the stress, disagreements with partners, and other challenges of running a startup.Andrew’s takeawaysDo not be the only shareholder in a startupWhen investing in a startup, you want to make sure there are other sizable shareholders. Don’t be the only or major shareholder; otherwise, it all comes back to you, which can be very tough on you.Sell, sell, sellYou need to sell to validate your business. Selling is proof that your business idea is working.Actionable adviceYou need to put time and passion into your business. This means you can’t get distracted; you need to focus on your business.No. 1 goal for the next 12 months.Jose’s number one goal for the next 12 months is to get back on track with his fitness. On a professional level, his goal is to continue growing his career within the marketing industry.Parting words “Just keep following your passions.”Jose Salazar [spp-transcript] Connect with Jose SalazarLinkedInInstagramFacebookAndrew’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: Jennifer Murtland is a licensed Real estate agent and investor in Ohio and Northern KY. She is the co-host of the Real Estate Fight Club podcast that focuses on battling through residential real estate topics.STORY: Jennifer bought a 200-year-old patchwork house on a whim, and it ended up sucking up all her money and time in renovations and repairs.LEARNING: Be careful when buying a patchwork house because it will cost you a lot more in the long run. Choose your tenants wisely to lower your risk and protect your return on investment. “Have different budgets for renovations based on the age of the house. The older the house, the more money you’ll need.”Jennifer Murtland Guest profileJennifer Murtland is a licensed Real estate agent and investor in Ohio and Northern KY. She started her real estate career wholesaling pre-foreclosures and investing in rentals. She is the co-host of the Real Estate Fight Club podcast that focuses on battling through residential real estate topics. She is a no bull shit, passionate professional who is committed to her client’s success and is currently looking for real estate agents to join her company.Worst investment everJennifer started wholesaling pre-foreclosures. In 2008 there were a lot of pre-foreclosures coming with good deals as houses were cheap then.The 200-year-old patchwork houseIn 2010 Jennifer came across a six-unit building that was almost 200 years old. The house was a patchwork house. Originally, it was a two-story house that probably started as a single house and then had two add ons built on, making it a six-unit apartment building. It literally looked like a patchwork quilt.Ignoring the facts right in front of herJennifer knew that buying a patchwork house was a considerable risk. She, however, believed that she is savvy and good with math, and this purchase seemed to make sense where numbers were concerned. So she bought this property.The domino effectAs expected of a 200-year-old home patched together when one tiny thing goes wrong, 100 other things go wrong. The repairs were not cheap either. Everything would cost like $3,000 to $10,000. But the average rents were about $500. As if that was not enough, the only tenants Jennifer could get were a pimp, a drug dealer, and a wife-beater; it was such a disaster.Getting rid of the patchworkFinally, the market turned, and about three years ago, Jennifer talked to her partner about the house, and they decided to sell the property. She found somebody and held the financing, and luckily the buyer paid Jennifer every month. Then the buyer sold it to somebody else, and Jennifer got her money back.Lessons learnedBe careful when buying a patchwork houseThe thing with old properties is when one thing goes wrong, 10 other things will go wrong, and it’s never cheap. So when doing your budget, keep age in mind. If it’s a newer home, you won’t need a lot of money for renovation, but the renovation budget could triple if it’s an older home.Andrew’s takeawaysDo your due diligence to preempt any trouble with your purchaseWhen you’re buying anything, keep in mind that the seller is probably hiding everything they possibly can on what’s wrong. So expect that the seller will hide stuff and do your due diligence to uncover what they are hiding.Investing in stocks is more straightforward than real estateInvesting in stocks is so easy compared to real estate. You just buy, if you don’t like it, you sell it the next day.Actionable adviceIf you’re going to invest in real estate, there’s a lot of ways that you can make money; being a landlord is just one of them. If you decide to be a landlord, be strategic about the tenants you target. This will dictate where you buy, which will dictate your return.No. 1 goal for the next 12 monthsJennifer’s number one goal for the next 12 months is to have 35 agents join her international real estate company.Parting words “Don’t be emotional. Check your numbers or have somebody else check your numbers.”Jennifer Murtland [spp-transcript] Connect with Jennifer MurtlandLinkedInTwitterFacebookPodcastPhone/Whatsapp: +15134001691Andrew’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: Ian Moyse is the Chief Revenue Officer at OneUp Sales. He is a decorated and numerously awarded sales director.STORY: A few years ago, Ian was between jobs, so when the first opportunity came knocking, he accepted it without doing any due diligence. The company turned out to be toxic, and he had to leave after nine months only.LEARNING: Do your due diligence to make sure that you accept the job that is right for you. Do not let your vulnerability blind you to accepting just any opportunity that comes along. “When you are desperate for a job, that’s when you should do more due diligence than you normally would.” Ian Moyse Guest profileIan Moyse, Chief Revenue Officer at OneUp Sales, has sat on the boards of a number of industry bodies, such as FAST (Federation Against Software Theft), CIF (Cloud Industry Forum), and Eurocloud.He was awarded the accolade of BESMA UK Sales Director of the year and was listed in the top 50 Sales Keynote speakers by Top Sales World.Ian was rated #1 Cloud influencer Onalytica and has been recognized as a leading cloud Blogger and is utilized by a range of global brands as a Cloud Computing thought leader.Worst investment everA number of years ago, Ian was in the unfortunate circumstance of being between jobs. Even though he had a bit of money saved to cushion him for some time, he did not want to be jobless for too long.So Ian was interviewing and happened to find an opportunity. It was not the perfect job, but he could make it work.Great on the face valueThe job opportunity was in a family business that looked great at face value. Its revenue had been stagnant for a few years, but Ian was excited at the chance to get onboard and reignite the business.Doing what he is good atIan took the role because he needed a job. He built a team of about nine people and got to work. He identified all the changes that the company needed and was ready to implement them once the company owners approved them.The cracks start to showIt was at this point that Ian started to realize there were some cracks in the company. He found out that there was dysfunction and politics in the family that spilled over to the business. This made it so difficult for him to change things. His ideas would get opposed all the time just because family members could not get along. It was very frustrating.The culture in the business was also getting quite toxic. The people Ian had hired started leaving the company as they could not handle the toxic environment anymore. Ian also quit after nine months at the company.Failed to do his due diligenceThe worst investment mistake that Ian made was investing his time in a job without doing enough diligence. This caused him to take on a job that was not a good fit for him.Lessons learnedDo your due diligence to make sure that you accept the job that is right for youYour desperate need for an income may cause you to put up with stuff, but you must think very carefully about a role you’re going to take. You don’t want to be in a toxic environment which will affect your mental health, the people around you, and your home, or put you in a position where you need to look for another job.Andrew’s takeawaysDo not let your vulnerability blind you to accepting just any opportunityWhen in desperate need of a job, realize your vulnerability at that time. Use that vulnerability as a tool to put a little bit more thought into what you’re committing to. This is very important because vulnerability could put you in a position where you could be willing to overlook stuff and not do your due diligence because you can’t afford to say no to a job offer.Actionable adviceWhen you are desperate for a job, do more diligence than you would normally. The beauty is that there’s more opportunity to do it now than ever before because of the web. Research companies that you are interested in before accepting job offers. Look at customer and employee reviews to get an idea of what you will be getting yourself into.No. 1 goal for the next 12 monthsIan’s number one goal for the next 12 months is to continue learning from his company and the people around him.Parting words “When looking for a job, work extremely hard at it as if that is your job, and you’re being paid to do it, and it will pay dividends.”Ian Moyse [spp-transcript] Connect with Ian MoyseLinkedInTwitterFacebookYouTubeBlogWebsiteAndrew’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: Gav Gillibrand is a fitness and nutrition expert specializing in helping busy executives lose 20-30lbs in 12 weeks. He is the author of The GHG Method – A No “Bullshit” Approach To Losing Body Fat, Upgrading Your Mind Set & Radically Changing Your Life.STORY: In his 20s, Gav ignored his health and just concentrated on having a sexy body. Years later, he has had several injuries that he now has to deal with in his 40s.LEARNING: Your health is more important than wealth or a sexy body. Invest in your health today to manage the risk of injuries in your old age. “If I could go back to my 20s, I would be the first to take care of my health. Now I have to spend the next 20 years trying to repair the damage that I did in my 20s and 30s.”Gav Gillibrand Guest profileGav Gillibrand is a fitness and nutrition expert specializing in helping busy executives lose 20-30lbs in 12 weeks and become great role models for their kids WITHOUT giving up carbs and other fun stuff from their lives.From a TV appearance on “Blind Date” in 1993 to a distinguished career as a male revue artist AKA a male stripper, traveling all over the UK and Europe, Gav went on to become one of the UK’s most successful fitness coaches, having helped 100’s of clients in the last 12 years to health and weight loss success. He’s written articles for Men’s Health, Hello and OK! Magazine and is the author of The GHG Method: A No “Bullshit” Approach To Losing Body Fat, Upgrading Your Mind Set & Radically Changing Your Life.Worst investment everToo young and sexy to careWhen Gav was in his 20s during his stripping and dancing days, he would often make fun of the other guys who always took time to exercise and stretch before a show. Gav felt that he was sexy enough to need any stretching.Giving in to age and poor healthWhen Gav was in his 40s, his body started caving. He got a neck injury and a spinal injury that caused his left arm to be slightly paralyzed. Gav was out of action for two or three years. Three years later, he had two meniscus surgeries on his knee. He is currently in the middle of a hip and back injury.Gav’s worst mistake ever was ignoring his health in his 20s, and now he is trying to repair the damage.Lessons learnedYour health is better than your looks or moneyYou may have a sexy look, but your sexy body will not be of help to you if you are sick. It doesn’t matter how much money you’ve got or how big your car or house is; if you have poor health, it is all worthless.Andrew’s takeawaysThink of your health as a risk management strategyInvest in your health when you are young to avoid the risk of poor health and injuries in your old age.Actionable adviceStart thinking about your health now when you are young because prevention is better than cure. You do not want to spend your sunset years trying to repair the damage that you did in your 20s and 30s.No. 1 goal for the next 12 monthsGav’s number one goal for the next 12 months is to be injury-free. From a business perspective, he wants to double his coaching business and write his second book. [spp-transcript] Connect with Gav GillibrandLinkedInFacebookPodcastWebsiteAndrew’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: Andrew Pek is an internationally recognized authority on innovation, design thinking, and entrepreneurship.STORY: When Andrew started his first business, he hired the best of the best who also came with high salary expectations. The startup could not handle the payroll, and so Andrew had to let almost everyone go.LEARNING: Starting a business from scratch requires you to be smart and strategic. Have the proper organizational structure to support your business model. “Fail fast so that you can keep on winning.”Andrew Pek Guest profileAndrew Pek is an internationally recognized authority on innovation, design thinking, and entrepreneurship. From start-up to mature companies, Andrew has helped organizations such as Bayer, Citi Group, Pfizer, and Steelcase become more innovative.Andrew has been invited to speak worldwide, and his views on innovative leaders, change management, and design thinking have been featured on ABC, NBC, CBS, Fox, The New York Times, Investor Business Daily, and Chicago Tribune.Worst investment everWhen Andrew started his business, DXD Partners, a big design thinking and innovation consultancy, he decided to hire some of the most intelligent and most interesting people. He went for people he had a good affiliation with. Andrew believed that these people would take his business to the highest heights.A payroll larger than he expectedWhile his hires were great, they also came with high expectations in terms of salary. Andrew invested a ton of money bringing them on board.A bloated payroll combined with the market crash in 2008 created the perfect storm for Andrew. He couldn’t keep up with the payroll and had to go through the painful process of letting everyone go except for his administrative person. It was brutal.Being more strategic when hiring peopleLooking back, Andrew admits that he should have been more strategic with the people that he hired. He should have made sure they were the right fit in terms of experience, skills, and even salary expectations.Lessons learnedStarting a business from scratch requires you to be smart and strategicWhen starting a business from scratch, understand what your customers want, have the right business model, and then develop the proper profitable structure.A successful idea is desirable, doable, and viableFor your product or business idea to be successful, it should be desirable, doable, and viable. Besides understanding what your customers want, you should also have the proper organizational structure to support your business model. The wrong setup will affect the viability of your business.Andrew’s takeaways6 top mistakes startups makeBad hiring decisionsPoor management of time and peopleIneffective teamwork and collaborationWaiting too long to start sellingWeak accounting and financeLow product qualityActionable adviceInvest your time in understanding who your customer is, then come up with a minimum viable solution.No. 1 goal for the next 12 monthsAndrew’s number one goal for the next 12 months is to scale a new product that he is working on. His strategy is to scale it through partnerships and licensing agreements, his online program Consulting Unplugged, and other mentoring systems,Parting words “Always stay present, dream big and make each day count.”Andrew Pek [spp-transcript] Connect with Andrew PekLinkedInTwitterPodcastWebsiteAndrew’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: Leonard Lee is a tech industry analyst and strategy consultant. He is the managing director and founder of neXt Curve, a research advisory firm.STORY: Leonard shares the most common mistakes he has seen in startups and his advice on dealing with those mistakes.LEARNING: Understand the market opportunity before launching your startup idea. Invest in advisors to help you understand the structure of the market. Test the market with a minimum viable product. “Get knowledgeable about your market opportunity, and then target your investments.”Leonard Lee Guest profileLeonard Lee is a tech industry analyst & strategy consultant, a solution architect, an innovation coach, a startup and board advisor, a Trekkie, and a musician.He is the managing director and founder of neXt Curve, a research advisory firm based in San Diego, California, focused on providing cross-domain ICT industry research and advisory services to enterprises, startups, and technology vendors looking to differentiate themselves and win in a rapidly changing digital economy.Worst investment everToday, we are going to do things a little differently. Our guest Leornard Lee will share the most common mistakes he has seen in startups and his advice on how to deal with those mistakes.Lessons learnedDetermine the value potential of your ideaThere are a couple of things that determine the actual value potential of an idea. One is how ready the market is. The second thing is technical readiness.One of the things that a lot of startups don’t factor in quite well is the economics. You have the idea first, but you fail to think through economics. Think of economics in terms of, first, the value to your target customer who is basically going to be that market opportunity you are pursuing. If you don’t consider that properly, you will be starting on the wrong foot.Second, think of economics in terms of the technical side. Understand technology in terms of cost. Sometimes your ideas may be great, but they are not economically viable. So your ideas fail because of bad timing.Do your homework and understand the market opportunity firstMost startups simply do not do proper homework, and therefore, they do not understand the market opportunity. One of the reasons they get into this early phase issue is because they look at these big inflated numbers thinking that the market opportunity is something that it is not.Here is where the bad investment starts and the startup ends up investing time that gets wasted upfront. Depending on how far they progress down the funding path, they just accumulate money that will probably not generate a return.Ask the right questionsTo understand the market opportunity learn how to ask the right questions. Invest in a group of advisors who can help you question numbers to get a proper understanding of the structure of the market.Test the market with a minimum viable productOnce you have an idea of where you are in your market, you’ve got your technology figured out, and you are in the early stages, the next thing you need to do is test that market.It is crucial that startups test their market first because many of them, especially those in tech, are often started by engineers. Engineers are great at designing cool stuff but may not be so great at running the business side of things.Run a buyers’ need analysis and validate your assumptions. What you think is valuable to the customer may not actually be so valuable. Start with a minimal viable product to help you understand whether your concept will resonate with the customer before you invest a ton of money into the final product.Actionable adviceIf you are getting into a hyped market, understand the state of the technology, understand the state of the market and get ahead of it.No. 1 goal for the next 12 monthsLeonard’s number one goal for the next 12 months is to be safe and healthy. He also wants to help as many startups as he can to succeed. [spp-transcript] Connect with Leonard 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: Logan Nathan is the founder and CEO at i4T Global/i4Tradies. He’s a digital transformation specialist, a serial startup entrepreneur, a board director and advisor, and an angel investor.STORY: Logan had an innovative idea that would be a big disruptor in the digital transformation industry. Just when the idea was getting traction, the pandemic hit the world. Logan had to pivot his business to survive. With the help of his employees, suppliers, advisors, and associates, he could pivot to a point where his business has now gone global.LEARNING: Listen to your advocates and customers; they can teach you more than you think. Look at your problems from a different angle. “It doesn’t matter what you have learned. There is always somebody who will teach you more than what you know.”Logan Nathan Guest profileLogan Nathan is the founder and CEO at i4T Global/i4Tradies. He’s a digital transformation specialist, a serial startup entrepreneur, a board director and advisor, and an angel investor.Worst investment everLogan has always had an innovative mind and is always trying to challenge the status quo. It is no wonder that he was running his company at 18 years of age.Getting into the digital transformation industryHe always wanted to cause disruption, and the digital transformation industry caught his eye. Logan delved deep into it, did his research, and about four years ago, he wrote a book about digital transformation. Now he wanted to innovate a product in that industry.Targeting tradesmenLogan had, over the years, built relationships with tradesmen. So he decided this was where he would develop his product. His idea was to create software like Uber but for tradesmen. He discussed the idea with a trade business owner, and he loved it.Diving both feet inThe two gentlemen dived into the idea and got the wheels rolling. Logan had a team of people who could code and do the technology part of the product. They then went looking for funding so that they could come up with the beta version.They went for an angel investing meeting, and the investors were skeptical about the idea and told them to get out of it as fast as they could. Logan was adamant, and so he went on to create a finished product.The market was not ready for themWhen it was time to hit the market, Logan realized that it was not ready for their product. It became tough to deal with individual tradesmen. But one day, he happened to interact with a property management agent who was having issues with a tradesman. It was then that Logan realized that he was targeting the wrong people. So he shifted his business ideas from individual tradesmen to property management agents.A successful turnaroundThe shift saw the business take a turn for the best. The company started to get traction and was making a substantial profit.Then came COVID-19Just when the business was getting its footing, the COVID-19 pandemic hit the world, and Logan lost 80% of his customers. The business was not going to survive the pandemic. However, his never-give-up spirit made him look at the pandemic more positively.Looking for all possible ways to surviveLogan gathered his employees, suppliers, and associates and had an extensive discussion on how to stay in business. They all accepted to receive pay cuts allowing the company to have some dependable cash flow. They also came up with an innovative idea to stay in business. This new idea has grown so much that Logan is taking it global.Lessons learnedEntrepreneurs never give upThe biggest lesson that Logan learned from this experience is that a true entrepreneur never gives up.Listen to your advocates; they can teach you more than you thinkYour employees, suppliers, associates, and advisors are your true advocates. They are the ones who will give you the lift that you need. Make sure you listen to them because they, too, have opinions and ideas that matter.Always think that the reverse is trueAlways look at situations in reverse. Therein lies your solution. When things are going great, ask yourself what is bad about that situation to preempt it. When things are going bad, ask yourself what is good about that situation to seize the opportunities.Andrew’s takeawaysLook at your problems from a different angleAlways try looking at a problem from a different angle; when one idea does not work as you expected, look in another direction where that idea can be valuable.Talk and listen to your customersWhenever you feel down, talk to your customers. You’re either going to find they’re not happy about something and then you’re going to feel invigorated to fix that. Or you’re going to find out they’re so glad about something, and you’re going to feel good about that.Actionable adviceMake sure that you have enough cash flow to last you at least three months. This way, you will be able to forecast for the following three months. If you can manage that cash flow, and look at all the things that can go wrong, then you will be ok.No. 1 goal for the next 12 monthsLogan’s number one goal for the next 12 months is to learn from his journey in the last couple of years. He also wants to use his experience to teach many other people because the more people you train, the more collaborative advocates you will have in your journey. [spp-transcript] Connect with Logan NathanLinkedInTwitterWebsiteAndrew’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: Ryan Estes is an American Buddhist entrepreneur and the founder of Kitcaster, a podcast booking agency. He is an expert in leveraging podcasts for meaning and profitability.STORY: Ryan and his wife co-run a marketing agency. Ryan’s wife came up with a fantastic product idea that she shared with Ryan. He agreed that it was a great idea; he took it over and executed it the same way he would implement a client’s vision. One problem, though; he never consulted his wife, whom the idea belonged to. Feeling sidelined, Ryan’s wife lost interest in the product causing a rift between the couple. In the end, they had to let go of the project for the sake of their marriage.LEARNING: Honor your relationships even in business. Your business partner is your most valuable asset, cherish and protect them. “If you have a business partner, somebody that complements you and you have the perfect rhythm, cherish and protect that relationship.”Ryan Estes Guest profileRyan Estes is an American Buddhist entrepreneur. As the founder of Kitcaster, a podcast booking agency, he facilitates thousands of extraordinary conversations. Ryan is an expert in leveraging podcasts for meaning and profitability.Kitcaster serves more than 150 agency clients and is gearing up for its first software product in 2021.Worst investment everOver the past 10 years, Ryan has been the owner-operator of Talklaunch, a media marketing agency he runs with his wife. The agency does social media content, paid media, organic search, website creation, and more.Taking over his wife’s fantastic product ideaRyan’s wife had this great idea for a skincare company, specifically, a natural deodorant company, and she was excited about it. She came up with this fantastic formula that worked well.Ryan took over this entire idea and put it through the wringer the same way he would do with a client. He rebranded the idea, built the website, put everything together, and launched the company, all without consulting his wife.Wife loses interestEven though the company was having middling successes and Ryan was planning to expand a line, his wife continually became less interested in the business. Ryan couldn’t figure out why she was not engaged in this company, yet it was building traction.Unbeknownst to Ryan, his wife had hoped that this idea would become a collaborative project for the both of them. Something that you would work on together and bond as a couple. However, Ryan never bothered to find out what were his wife’s expectations from the business. So when he took it over and alienated her, she lost all the interest she had.Choosing to save his marriageThe business was starting to cause a rift between Ryan and his wife. Once Ryan realized his mistake, he apologized to his wife, and together they decided to let go of the project and focus on something else for the sake of their marriage.Lessons learnedDraw a line between business and your marriageWhen you go into business with your partner, be sure to draw a line between your marriage and your business. Articulate in a conversation all the ways your business relationship could go wrong. Evaluate how your business relationship can affect your marriage and find ways to protect that relationship because no amount of money is worth ruining your relationship.Always remember that your spouse is your most valuable assetThere are so many parallels between a marriage and a business relationship, and therefore, differences will arise, and ideas will differ. But, the value of somebody who understands you and is vital to you from a business side is more important than any revenue outcome. If you have a business partner who complements you, cherish and protect them.Andrew’s takeawaysHonor your relationships even in businessWhen it comes to doing business, honor your partner’s ideas and thoughts. Do not drag your relationship through whatever your next idea is; discuss it with them first.You and your spouse will have differing expectationsYou and your spouse will probably want different things from a business partnership. So if you do not clarify your expectations, your partnership will be a train wreck.Actionable adviceDiscuss parameters and rules before getting into a business with your partner. Talk about worst-case scenarios such as how you will handle the company if you break up, who gets the final say when one of you wants to make a decision and the other doesn’t. Make sure that you have an exit strategy in place in case things go a certain way.No. 1 goal for the next 12 monthsRyan’s number one goal for the next 12 months is to grow Kitcaster into an absolute behemoth. He, therefore, wants to stretch it out to about a $2.5 million runway.Parting words “Thanks for letting me tell the story.”Ryan Estes [spp-transcript] Connect with Ryan EstesLinkedInTwitterWebsiteAndrew’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: Almasa Alunni is a visionary global citizen, a mentor, and a seasoned consultant with a curious mind, acting as the pivotal trait d’union to align strategic alliances and cultures.STORY: Almasa moved to Dubai, where she met a Filipino lady who became a very close friend. One day the lady borrowed a substantial amount of money which Almasa gave her without any questions. She trusted her as a friend. It turned out the lady was a con artist and never paid Almasa her money back.LEARNING: Do your due diligence before lending anyone your money, including friends. It’s better to give than to lend, but do not give what you cannot afford to lose. “Money comes and goes. But if you lose a friend, you lose a treasure.”Almasa Alunni Guest profileAlmasa Alunni is a visionary global citizen, a mentor, and a seasoned consultant with a curious mind, acting as the pivotal trait d’union to align strategic alliances and cultures.She has a solid networking portfolio of HNWI, key players & decision-makers built over four decades of professional experience in the Luxury Lifestyle, Mega Yachts industry, Communication & Media environment.Almasa is a multilingual elite PR advisor in brand strategy where she can connect the dots both backward and forwards. She has a real talent for human cross-cultural gathering and great knowledge of the Middle East and North Africa region’s social and economic environment.She was appointed as UAE Humanitarian Global Goodwill Ambassador in 2018.Worst investment everWhen Almasa moved to Dubai, she met a Filipino lady, a Catholic like her, and became close friends quickly. They become as close as a family, always celebrating stuff like Christmas together.Helping a sister outThe Filipino lady was almost 70 years old but quite a hard worker, as Almasa thought. The lady told Almasa that she was engaged in a new business venture and needed some financial assistance.Being the kind and generous person Almasa is, she agreed to give her the money. She transferred a considerable sum of money, the equivalent of two years of her living expenses, by bank transfer, no questions asked.Turns out it was a scamMonths passed without Almasa getting any money back as promised. After chasing after her friend for months, she reimbursed her partially and at a plodding pace. Almasa decided to take action and went to the police station. Here, she found out that the lady had four other cases of fraud. It turns out she was a professional con artist who knows precisely how to scam people.Abuse of trustWhile losing the money was painful, what hurt Almasa most was how her friend abused their friendship and her trust. Because money comes and goes, but losing a friend is like losing a treasure.Lessons learnedDo not give more than you can afford to loseIt is always safer to give and not expect anything in return. But even as you give, always give what you can afford to lose.Andrew’s takeawaysInstead of lending a lot, give a littleIf you are not willing to lend anyone your money, simply give the little that you can as a gift instead of lending them large amounts of money that might leave you in debt.Ask for collateral in exchange for a loanBefore you lend money, ask the person to give you some collateral, such as a deed to a piece of land or a car deed; if they do not pay, you will have a way to recover your money.When you do good, good will always come back to youLife is not always a direct relationship. When you do good for someone, it does not necessarily mean that person will do good for you. But if you do good in life and to the universe, that favor eventually comes back to you.Actionable adviceDo your due diligence before you lend anyone money, even your friends. Do not get trapped in those so-called friendships.No. 1 goal for the next 12 monthsAlmasa’s number one goal for the next 12 months is to bring her dream project off the ground. Almasa is working on her TV channel focusing on culture. She is also working on a line of jewelry based on an interfaith harmony project. [spp-transcript] Connect with Almasa AlunniLinkedInInstagramAndrew’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: Robert Paylor suffered a spinal cord injury in 2017 while playing rugby. He has picked himself up to defy the odds. Robert graduated from UC Berkeley, is winning the fight to walk again, and is sharing his method of how he overcomes quadriplegia.STORY: Robert suffered a spinal cord injury while playing rugby and could not move anything below his neck. He fought so hard to walk again to satisfy himself, but after a letter from one of his rugby trainees battling cancer, Robert realized that he needed to fight his challenges to inspire others.LEARNING: To overcome challenges, you must first believe that you can. You can overcome your challenges, do not let the world tell you otherwise. “The more positive affirmations we give ourselves throughout the day, the more positive we become and the more able we are to take on life’s challenges.”Robert Paylor Guest profileIn one moment, Robert Paylor was on the best day of his life, competing for the collegiate rugby national championship. In the next moment, his life changed forever. Robert suffered a spinal cord injury in the first minutes of the game and found himself face down on the turf, unable to move anything below his neck.His doctor told him he would never walk or move his hands for the rest of his life. Through an unbreakable vision and relentless determination, Robert is defying the odds. He has graduated from UC Berkeley, is winning the fight to walk again, and is sharing his method of how he overcomes quadriplegia.Every person faces challenges; Robert’s are just visible. The skills Robert uses to overcome paralysis can be used by all to optimally perform. His message is one that inspires others to access their full potential and conquer their challenges no matter how daunting they may seem. Visit https://www.robertpaylor.com for more information.Worst investment everOn May 6, 2017, Robert played at the collegiate rugby national championship when a player tackled him. He lost his footing and dropped to the ground snapping his neck. He could not move or feel anything below his neck. Robert could tell something was wrong, and at this moment, all he could think of was his goals, dreams, and aspirations.Making it all about himselfWhen Robert found out that he could not walk, he wanted to get better for himself. He just wanted to get better and nothing else. Robert just wanted to be able to stand up on his feet, feed himself, and go back to school. Just for his satisfaction.An inspiration to manyThis need for self-satisfaction changed very quickly. One day after his injury, Robert’s high school was hosting a prayer service for him. He would typically teach rugby to young players at the school and share this passion with them.As Robert was chatting with his dad about the service, he showed him a photo of a young lad who was fighting for his life. His skin was white as a sheet, and his body as thin as a rail. After a closer look, Robert recognized the guy. He was one of the high school kids that he trained.The student’s mom had written a message to Robert telling him that his son wanted so badly to be at the prayer service to pray for Robert, but he couldn’t because he was undergoing chemotherapy. He was wearing Robert’s rugby shirt because he inspired him. And because of Robert, the student was fighting hard to beat cancer so he can play rugby. At the end of the message, the mom asked Robert to stay strong and keep smiling because his strength was helping her son stay strong too.Living for a higher purposeRobert broke down after reading the message. He realized that everything he did was not about him. Fighting for his life, fighting to walk again, and gain his independence was not just beneficial to him but also inspiring to thousands of people across the world.With this realization, Robert has been fighting hard, and now he can stand up using a walker and walk up to 300 yards. He can feed himself and live independently. The doctors had told him he would never be able to do such things again. Robert believes that he was able to beat the odds because he stopped living in that selfish desire.Lessons learnedSuccess starts in your mindTo overcome challenges, you must believe that you can.Positive affirmations hold real powerThe more positive affirmations you give yourself throughout the day, the more positive you become and the more able you are to take on life’s challenges. Do things that keep out negativity and promote positivity. Just like you are intentional with what you put into your body, you also need to be very regimented with your mental diet to gain a positive mindset.Practice perspective in a manner that helps youPerspective is such a powerful tool. It can hurt or help you. Robert learned that he could practice perspective in two ways. On the one hand, he could look at the periods of his life when he had everything and things were working out for him and compare them to his current reality and feel bad about himself. Or he could look at other people in far worse situations and choose to be grateful for his life. It is all about perspective.Andrew’s takeawaysYou can overcome your challenges, do not let the world tell you otherwiseWhen you face your biggest challenge, as many people could be facing right now, the first thing you need to believe is that you can overcome insurmountable odds, so do not let the world convince you otherwise.Focus on the higher purposeThere is a higher purpose in life. If you are religious, this could be a purpose related to serving God. If you are not religious, it may be a purpose of helping others. Just stop making it all about yourself, and start thinking about how you can impact others. And when you do, no matter how bad your situation is, there are people out there that are suffering more.Actionable adviceIf there is a situation in your life that makes you feel mad at the universe, angry at the circumstances that got you in that situation, you need to forgive and start focusing on the positive things in your life. This will help that pain and suffering go away.No. 1 goal for the next 12 monthsRobert’s number one goal for the next 12 months is to be able to do something like getting out of his bed or couch, get in his car and go to a restaurant and sit down in a booth and eat a meal, and then get up out of that booth, back into his car, and back to his couch.This may not seem like much to a lot of people, but it’s something that Robert desires so much. He believes that a year is a realistic time to make it happen, and if he does, he’s one step closer to never needing his wheelchair ever again.Parting words “I hope by following me, I am able to give you that little dose of mental diet.”Robert Paylor [spp-transcript] Connect with Robert PaylorLinkedInTwitterInstagramFacebookWebsiteAndrew’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