My Worst Investment Ever Podcast

BIO: Roshan Cariappa has over 12 years of experience as an entrepreneur and operator at early and growth-stage startups, specializing in going from zero to one and setting up cross-functional teams. Currently, he heads Marketing at Vymo, one of the fastest-growing SaaS startups in India.STORY:  Roshan started his business in 2012, offering marketing services to startups and small businesses. He then pivoted to offering digital assets when digital marketing hit. The business was quite a success. In 2015, there was a vast consumer internet boom in India, and so Roshan thought he’d take advantage of this and pivot his business to offering tech products. He created an app to connect families. This was a huge change that worked against his company. In a few short years, the business failed.LEARNING: Pivoting is about making small changes, not huge ones. Do not go all in; make room for risk and probability and always have a plan B. “You can be super optimistic about your vision, but be a little pragmatic, or even slightly pessimistic about your execution.”Roshan Cariappa Guest profileRoshan Cariappa has over 12 years of experience as an entrepreneur and operator at early and growth-stage startups, specializing in going from zero to one and setting up cross-functional teams.Currently, he heads Marketing at Vymo, one of the fastest-growing SaaS startups in India, and also runs Bharatvaarta podcast (Politics, Policy, & Culture focused on India) and The Startup Operator podcast (wisdom from Indian founders, operators, and investors).Worst investment everIn 2012, Roshan started a business offering marketing services to startups and small businesses. The business then pivoted to building digital assets. Roshan and his team realized that digital was becoming the front and center of business, and people didn’t really have a focal point for all marketing activities. So they took advantage of this and pivoted the business.For a couple of years, the business was doing well and making good money.Pivoting a second timeIn 2015, the team had an itch to pivot again. This time they decided that they were done with services and decided to build products. They settled on creating an app to connect families.Going all inAt the time, there was this colossal consumer internet boom in India. There were a lot of new users on the internet, and every app business was getting funded. So there was a lot of optimism in the air. Roshan decided to go all in. He believed they could build the app successfully just as they had done with their previous offerings, the digital assets.It was not as easy as it seemsRoshan and his team grossly underestimated the time, effort, resources, money, patience, and skills required to build a consumer app.Roshan soon found out that App Store discovery is quite hard, and an app has to either go viral or spend a ton of money on acquisition. And once you’ve acquired these consumers, you still have to retain them and then make money out of them, which is not a trivial thing.Having to wind upRoshan had to wind up after a couple of years of trying to make the app a success. This was quite humiliating for him as he had to let go of people he had hired and nurtured.The failure of the app drained all of Roshan’s self-confidence. He hit a real low point after this venture.Lessons learnedDo not go all in make room for risk and probabilityWhile it is good to be optimistic about the outcome of your new idea, it helps to be a little pessimistic about your execution. Before you go all in, think about risk and probability. Consider that things might fail; what will you do in that eventuality? It is always better to be prepared for such an outcome than for it to hit you by surprise.Always have a plan BIt may sound like a cliche but always have a plan B. There is a lot of survivorship bias, especially when starting a business, so it’s going to take a lot out of you, and it’s good to have a solid plan B.Andrew’s takeawaysPivoting is not about making big moves but about small changesA lot of times, when entrepreneurs want to pivot, they make big changes. But the fact is that a pivot is just a small change. Pivoting from a service to a product or a product to a service is a huge change, and you are no longer pivoting but starting a new business.Actionable adviceBe deliberate about your choices. It is also imperative to be pragmatic about the present.No. 1 goal for the next 12 monthsRoshan’s number one goal for the next 12 months is to stay healthy and happy and keep his family happy.Parting words “I think we underestimate how much success can be had by not doing dumb stuff like, in my case, put everything on the line without a plan.”Roshan Cariappa [spp-transcript] Connect with Roshan CariappaLinkedInTwitterPodcast 1Podcast 2WebsiteAndrew’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: Marc Cirera is a business ethics and CSR specialist with a clear vision: a world where companies operate more sustainably and responsibly. It is for this reason he founded Companies for Good.STORY: Marc was traveling across South America when he realized just how much the process of booking a bus, the most popular mode of transportation, was. He decided to create an application that would make this process easy. The biggest mistake Marc made was failing to research his idea before launching it. He went all in and came up with this spectacular product, but he soon realized that selling bus tickets was just not where his heart was.LEARNING: Find that one thing that motivates you the most and do it. It is okay to walk away from an idea that is no longer working; let the experience be your chance to learn. Go out there, test your idea, make it work, and keep improving it as you get feedback. “You will always regret the things you haven’t done, not the things you have done. And so, whenever you have the opportunity to do something, do it.”Marc Cirera Guest profileMarc Cirera is a business ethics and corporate social responsibility (CSR) specialist with a clear vision: a world where companies operate in a more sustainable and responsible way.He founded Companies for Good because he knows that good business practices help companies perform better and because he knows that businesses have the potential to solve some of the world’s most pressing issues.A born entrepreneur, Marc was introduced into the business world at a very early age by his grandfather, a self-made businessman. At 19, Marc set up his first business in hospitality while studying Economy & Business Administration in Barcelona. Marc ran the business for four years, then sold it and used the profits to pursue his Master’s in Business Ethics in Sydney.After graduation, Marc moved to London where he worked at communications consultancy, Radley Yeldar, as an Employee Engagement & Sustainability consultant for 5 years. He helped multinational companies become stronger by putting ethics, values, and CSR at the heart of their organizations.Marc landed in Dubai in 2015 and joined the sustainability team of the luxury retail giant Chalhoub Group. In parallel to his full-time job, he developed and launched Companies for Good (in 2017) and has been fully dedicated to the social impact start-up since November 2018.Worst investment everMarc was traveling around South America, as a backpacker, after quitting his job in London. Being an entrepreneur at heart, Marc went looking for any opportunities as he backpacked in South America.Smelling an opportunityMarc noticed that bus transportation was the most popular mode of transportation given that planes were expensive and there was no railway line. People would use buses to travel across cities and countries. The buses were quite comfortable.One thing was missing, though. The process to find information such as bus timings and routes and purchase the ticket was a nightmare, especially for tourists who could not speak Spanish. Immediately, Marc got the idea to create something like Skyscanner, but for the bus transportation in South America.Coming up with the coolest solutionMarc spent about a year working on the application. He did many cool things, such as an amazing website, a fantastic name, and the coolest logo. Marc started talking with loads of bus companies and sharing his idea of selling their bus tickets online. And they loved it, of course, because it meant more business for them.Going in full-timeMarc traveled to South America again sometime later to negotiate the rates. He did pretty much everything that needed to be done to set up the business.At some point, Marc realized that he needed to put his full attention to the business. He could not be traveling while developing a business idea. So he dedicated himself full-time. He created a team and financed the whole business because he was 99% sure it would be a great business model. Marc truly believed it could be amazing and was ready to invest in it.Losing interestThe business model was wholly dependent on selling bus tickets. After a year of doing it, Marc realized that this was something he just couldn’t see himself doing 5-10 years down the line. There was just no motivation to keep doing it, and so he wrapped up the business.Lessons learnedFind that one thing that motivates you the most and do itIf you want to succeed as an entrepreneur, do something that motivates you. Something that you will want to continue doing for a long time. Think about the things that inspire and drive you as a person and as an entrepreneur. What are the things that make you wake up every morning and be excited? What kind of job would you like to do that doesn’t feel like you’re working? Before spending time and money on anything, spend some time thinking about what will make you happy and keep you motivated.Whenever you have a chance to do something, do itWhenever you have the drive to do something, do it as long as you know it is the right thing to do. Do not waste too much time thinking; just learn by experience. And if you realize that it is not the right thing for you, that’s fine; move on and try something else. Everything you learned from this experience stays with you.Andrew’s takeawaysFirst, make sure that there is a problem your product can solveBefore you launch a product, find an existing pain that the customer feels and let your product offer a solution. This must be a pain that is valuable enough for them to pay for a solution. What might look like a problem to you may not necessarily be a problem to the customer.It is okay to walk away from an idea that is no longer workingIf you find yourself at a point where you decide that an idea you had is no longer working, it is perfectly okay to walk away. The idea may not have worked, but at least you tried. And just like Mark, you will not regret walking away because you tried.Actionable adviceGo to the market from day one. Do not wait until everything is perfect. Go out there, test your idea, make it work, and keep improving it as you get feedback.No. 1 goal for the next 12 monthsMarc’s number one goal for the next 12 months is to plant 10,000 trees to make the UAE greener and mitigate climate change.Parting words “It is good to look back and reflect on what you did well, what you did not, what the journey has been, and to be proud of all the achievements.”Marc Cirera [spp-transcript] Connect with Marc CireraLinkedInTwitterInstagramWebsiteAndrew’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: J. Money is an award-winning personal finance blogger. He’s founded several popular projects over the past decade, including Budgets Are Sexy and Rockstar Finance.STORY: J went looking for a 2-bedroom apartment to rent in 2007. He got lost and ended up buying a $350,000 house on a whim 48 hours later, with no idea of what he was getting into. A few months later, the property market went bust, so he could not sell his house. J has always been a drifter and buying a house that he could not sell saw him get stuck in a place he did not enjoy living in for seven years.LEARNING: Do not do things just because others are doing it; try to shape your lifestyle according to your dreams. You could make more money by being a renter than a homeowner because there is no guarantee you’ll sell the house for a profit. “There is no shame in renting. Take your money and invest it in the stock market.”J. Money Guest profileJ. Money is an award-winning personal finance blogger, a daddy of 3, and mega-fan of the Personal Finance space online. He’s founded a number of popular projects over the past decade, including Budgets Are Sexy and Rockstar Finance, and is now curating the best articles from around the community at All-Star Money—a project in partnership with The Motley Fool. You can find his entire story here.Worst investment everWhen J got engaged, he felt that the next thing on his life’s checklist was buying a home. But at first, they decided to rent a one or two-bedroomed house.Finding a home by sheer accidentOne day, as the couple was apartment hunting, they got lost after taking a wrong turn. They stumbled across a townhouse that was for sale. They thought it was a nice-looking townhouse, and they decided to call the realtor just for the fun of it.The realtor confirmed that it was for sale and invited them to go inside and take a look. They told the realtor that they were planning on renting. The realtor convinced them that renting was just a waste of their money, and for only $200 more, they could own a house.But my friends are homeownersAs the realtor tried to convince them to buy, J thought everyone, including his friends and family, was a homeowner. And at that point, he knew a house is an asset. All these thoughts convinced him to buy the house for $350,000 within 48 hours.The decision to buy the house was entirely on a whim. They did no research or weighed their options thoroughly. They just saw a house that they liked, and it was well priced, so they bought it even though that was not their initial plan.The bubble goes bustWhile J felt that he had made a rash decision, he comforted himself with the fact that he had bought the house when the market was down, and maybe he would sell once it goes up.Unfortunately, the market kept going down. Then the 2008 financial crisis happened and crashed the property market altogether. Now J could not sell the house.The massive responsibility of owning a houseBesides having to deal with a declining market, J also had to bear the immense responsibility of owning a house. He had to deal with things like maintenance and property taxes, something he was not used to as a renter.Tethering a drifterJ came from a military background and so was used to moving every two years. And while in his head he thought it might be good to settle down, it was impossible to buy a house every two years and sell it.J and his family were forced to live in that house for about seven years because he could not sell the house for profit, even though he badly wanted to be on the move.Lessons learnedYou do not have to do what everyone else is doingDo not do what others are doing. Live your life on your own terms. Buy a house because it’s the right thing for you, not just because your best friend bought a house. Know yourself, understand how you work, and build a lifestyle around that.There is no shame in rentingIt is okay to rent. In fact, there are some advantages to renting over ownership. With renting, you do not have to worry about maintenance costs and taxes. You can invest this money in something with a high return. Renting also gives you the freedom to move around as much as you want. You do not get tied down to one place.There are other better ways of investing other than homeownershipAn asset is supposed to bring you an income. Houses, unless it is a rental, do not bring income. Instead, they take money from you. There are other investment options, such as the stock market. If you are buying a house with the hopes of making money from it, don’t. Instead, invest in the stock market.Andrew’s takeawaysRenting could make you more money than owning a homeLong gone are the times when owning a home was a huge investment in terms of returns. If you calculate the long-term costs of owning versus renting, renting is more cost-saving. If you are an intelligent renter and invest the money you’d use to buy a house, you could make a lot more than if you were a homeowner.There are many investment options nowadaysToday, there are so many investment options that are easier to manage and will make you more money than owning a home. You stand to build wealth investing in stocks, bonds, and other asset classes.Actionable adviceWrite your dream down. What does your dream life look like? If a house falls into that dream, then buy a house. But, if you see your dream life does not include being attached to a home, J’s best advice is to rent.No. 1 goal for the next 12 monthsJ’s number one goal for the next 12 months is to go back to his previous lifestyle before starting the All-Star Money project. His lifestyle included waking up at 5 am, working for five or six hours, then calling it quits at lunchtime, and then have the second half of the day for himself.Parting words “Just stay true to yourself and go check out personal finance blogs and see if anything resonates with you.”J. Money [spp-transcript] Connect with J. MoneyLinkedInTwitterInstagramWebsiteAndrew’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: Chuen Chuen Yeo is an executive coach specializing in developing the agile mindset in professionals, thereby raising the quality of leadership in every organization.STORY: Chuen Chuen quit working as a public servant and set up a coaching business. She then put her heart and soul into creating an online course. After three weeks of ignoring everything else, including her husband and kids, Chuen Chuen made only one sale. Her biggest mistake was failing to conduct background research and understand the online course space before jumping into it.LEARNING: Do not allow fear to stop you from reaching your full potential. But, also, do not let too much optimism blind you from seeking guidance. Sell your online course before creating it. “I overcame imposter syndrome by accepting what my strengths profile was trying to tell me.”Chuen Chuen Yeo Guest profileChuen Chuen Yeo is an executive coach specializing in developing the agile mindset in professionals, thereby raising the quality of leadership in every organization.Named one of “Top 101 Global Coaching Leaders” and “Woman Super Achiever” at the 28th World HRD Congress.She works with business executives from nearly 40 countries, including Fortune 500 companies and senior officers from the Singapore Civil Service.Chuen Chuen is also the author of ‘8 Paradoxes of Leadership Agility’ where through stories of transformation, she shows how mindset shifts are made possible with her proprietary Re4 Coaching Model.Worst investment everLeaving her safety netChuen Chuen decided to move from being a public servant and become an entrepreneur. The move meant leaving the stability of a full-time job, but she was determined to explore this route of becoming an entrepreneur.Setting up her own businessChuen Chuen set up a coaching business, and to scale the business; she put together an online course with the hopes of making some passive income.Chuen Chuen spent about three weeks wholly engrossed in creating the perfect course. In the three weeks, she ignored her husband and three kids. Fortunately, her husband was very understanding throughout that period.Time to sell the courseAfter spending all her time and money creating the perfect course, it was now time for Chuen Chuen to sell her course. She asked her greatest supporters to have a look.After all the work she put in, Chuen Chuen got just one sale. She was utterly disappointed.Learning from failureEven though Chuen Chuen was disappointed by the failure, she decided to learn from it. She asked a few people for feedback, and she got to know that her biggest mistake was being overly optimistic about her course. She believed that it would be great just from creating good content. So she failed to do any research or seek guidance from other online course sellers.Lessons learnedDo not let too much optimism blind you from seeking guidanceWe have to guard ourselves against our optimism to avoid trapping ourselves in a box, thinking that everything will work out fine. Too much optimism may make you paint this overly rosy picture that you do not need guidance because things will work out fine.Andrew’s takeawaysDo not let fear stop you from reaching your full potentialYou are unique and capable. Stop feeling bad about yourself, stop feeling inadequate, or letting imposter syndrome stop you from reaching your highest capabilities. Your job in this life is to bring the most and the best out of yourself.Sell your course before you create itIf you want to make money selling online courses, the best thing to do is sell the course before creating it. Drum up interest before you even create it. This will help you know if people indeed want it.Do not be afraid to charge premium rates for your coursesSometimes people are afraid to charge a higher price for their courses, not recognizing that cost is a serious accountability tool.Actionable adviceIf you are planning to launch an online course, check out Amy Porterfield first.No. 1 goal for the next 12 monthsChuen Chuen’s number one goal for the next 12 months is to scale and automate her business.Parting words “Please connect with me if this interview has done something positive for you.”Chuen Chuen Yeo [spp-transcript] Connect with Chuen Chuen YeoLinkedInTwitterInstagramWebsiteAndrew’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: Bushy Martin helps others to work less and live more. He is a highly respected property investment and finance expert, an author, and an anchor on Australia’s number one and longest-running property program ‘Real Estate Talk. He is also the host of the Get Invested podcast.STORY: Bushy always believed that hard work was all a successful man needed. This made him self-obsessed with his career to a point where he abandoned everything else in his life. It made him lose everything, including his wife and son.LEARNING: Invest in your health because it is your wealth. Focus on creating passive income so that you can have more time to live life. Time is a limited resource; use it wisely. “People who achieve sustainable success are those who invest in themselves, in their health, and their wealth.”Bushy Martin Guest profileBushy Martin helps others work less and live more through his contributions as an award-winning author, media host, podcaster, and one of Australia’s most highly respected property investment and finance experts. He is the author of The Freedom Formula and Get Invested. He is the newly appointed anchor on Australia’s number one and longest-running property program, Real Estate Talk, and Bushy interviews some of the world’s leading investors and high performers each week on his podcast, Get Invested.Worst investment everBushy was brought up to believe that a man’s role is to work hard as the wife looks after the house and brings up the kids.Hard work was his strengthBushy was not very talented, so his way of standing out was to work harder than everyone else. He worked hard through high school and university. He continued to work hard even after he became an architect.Bushy was all consumed in being a world-leading architect. His dream was to have award-winning projects all over the country, and to some degree, he achieved that level of success. Bushy got to work on some fantastic projects all over Australia and Asia.Great on the outside, dead on the insideBushy had a great career, got married, had a beautiful son, and lived in a beautiful home. Everything seemed perfect on the outside, but on the inside, Bushy was dying. He became obsessive about work. He was working seven days a week, 14 hours a day, for years on end.Losing everythingBushy’s obsession with his career caused him to lose everything else that was important to him, including his family. That hit him hard. He was burnt out, broken, and broke at 33.Bushy found himself at absolute Ground Zero and having to start again. He regrets the damage his obsession did to his first wife and son. Bushy resolved not to get that obsessed ever again and try to find a balance between making money and living life.Lessons learnedStop working for money and start getting money to work for youFocus on creating passive income so that you do not have to work all the time at the expense of everything else in your life.Treat yourself to some TLCFocus on your health because it is your wealth. The moment you start investing in your health, your life will change. You will start to see the world differently, and money will not be your motivation, but your health will be.Family is everythingFamily is everything you have got. So if you have disagreements with your parents or siblings, forgive them. You do not have to forget but forgive them because if you do not, the person you are hurting most is yourself.Andrew’s takeawaysChange is possible at any point in your lifeYou can change yourself whenever you feel it is necessary. Think about the kind of legacy you want to leave and adjust accordingly.Time is our limited resource, and all that we haveTime is a scarce resource so use it wisely. Live every day intentionally to get more out of life before time runs out.Actionable adviceStart the day by asking yourself: “What can I invest in today that is going to give me more time tomorrow?”No. 1 goal for the next 12 monthsBushy’s number one goal for the next 12 months is to continue helping and giving to others. His goal is to look at how to evolve the Real Estate Talk show on the professional front. Bushy is also working on his third book called Get Inspired, which takes all the gold out of the podcast episodes he has been doing over the last three years. You can grab a free copy of the intro book here.Parting words “Get invested.”Bushy Martin [spp-transcript] Connect with Bushy MartinLinkedInTwitterWebsitePodcastAndrew’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: Steve Faktor is a former Fortune-100 executive—turned entrepreneur. As Managing Director of IdeaFaktory Innovation, he helps tech, financial services, and consumer goods clients see and build the future. The McFuture Podcast features Steve’s provocative predictions and prescriptions.STORY: Steve’s lifelong dream was to be a comedian and radio personality just like Howard Stern. His parents, however, could hear none of it and pushed him to conform to being a nice boy who does well in school and then goes out to get a family and a job that everyone can be proud of. Today, he regrets never fighting hard to achieve that dream.LEARNING: Fight hard to pursue your dreams, and don’t let anyone stop you. It is not too late to turn back and chase your dreams. “If you follow the money, the culture, and technology, you will lead yourself to the right answers.”Steve Faktor Guest profileSteve Faktor is a former Fortune-100 executive—turned entrepreneur, futurist author of Econovation, and podcaster. As Managing Director of IdeaFaktory Innovation, he helps tech, financial services and consumer goods clients see and build the future.Steve is a LinkedIn Influencer with over 750,000 followers and has been featured in Forbes, Harvard Business Review, and The Wall Street Journal, among others. He’s a popular keynote speaker at major events and numerous corporations.The McFuture Podcast features Steve’s provocative predictions and prescriptions, as well as guests like Larry King, comedian Jim Jefferies, Governor Jesse Ventura, Nobel Economist Joseph Stiglitz, former ACLU President Nadine Strossen, Megachurch Pastor AR Bernard, and many more.Previously, Steve launched multiple $150m+ loyalty, payments, and e-commerce products & services as head of the American Express Chairman’s Innovation Fund, SVP at Citi Ventures, VP of Strategy & Innovation at MasterCard, and management consultant at Andersen.Worst investment everSteve was always a creative, disruptive, and curious child. He would often question everything, including what the rabbis taught him.Tucking his creativity awayNow one thing Steve loved was writing. He would always write, and some of this stuff was so creative and funny. Steve kept his writing in a plastic shopping bag and tucked it away in his grandmother’s house in her closet.Watching his dream wither awaySteve’s dream was to be Howard Stern. He grew up listening to him. The excitement of live radio blew him away, and he just wanted to be part of it. Steve even bought a special Walkman that allowed him to record shows. He would listen to the recordings on his way to school and back.Steve even got into Boston University, where Howard went, but he ended up going to NYU, where he got an academic scholarship.Steve’s parents were oblivious to his passion for writing or his love of radio, and they couldn’t care less about it. To them, a successful life is where Steve grew up to be a nice boy who did well in school, went out and got a family, and a job that everyone could be proud of. And that is the kind of direction they pushed Steve in.Lessons learnedFight hard to pursue your dreamsYou have to fight harder if you feel that something is innate inside of you. You cannot allow anyone, even your parents, to guide you elsewhere. So, fight for that personal narrative that fits who you are.Andrew’s takeawaysIt is not too late to turn back and chase your dreamsThink about your dreams and the things that are holding you back from achieving those dreams. Now believe that you have shelved your dreams for far too long and gather the courage to move to the next level.Actionable adviceDistinguish between what is easy and what is satisfying—chase what is satisfying and fulfilling.No. 1 goal for the next 12 monthsSteve’s number one goal for the next 12 months is to get on Joe Rogan’s show. [spp-transcript] Connect with Steve FaktorLinkedInTwitterYouTubeWebsitePodcastAndrew’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 mentionedMalcolm X and Alex Haley (1965), The Autobiography of Malcolm X

BIO: Lisa Goldenthal is an expert concierge lifestyle coach, creating customized meal and exercise plans for clients to combat sleep deprivation, stress, and unhealthy eating. Lisa recently launched The WholeCEO Podcast, where she sits down with industry leaders to discuss their insider secrets to being unstoppable.STORY: Lisa, for a long time, assumed that she could eat anything she wanted over the weekend and burn it by working out during the week. But, this was a horrible plan that never worked. Tired of her unsuccessful plan, Lisa discovered her Boss Weight Loss system that works like magic.LEARNING: You are what you eat, and your body is your best investment ever. Have a flexible, structured, and consistent weight loss plan. “Your health is your wealth, and health and time are your diminishing assets.”Lisa Goldenthal Guest profileLisa G. is the best-selling author of The Boss Weight Loss and creator of the original Skinny Jeans Workout that sold over 100,000 units in Target and Walmart. She has been featured in Life & Style Magazine, KTLA 5, CBS News, Thrive Global, and Web MD and has 20+ years transforming clients’ lives, including Cheryl Tiegs and Paul Zane Pilzer.Lisa is recognized as an expert concierge lifestyle coach, creating customized meal and exercise plans for clients to combat sleep deprivation, stress, and unhealthy eating. She gets results for high-impact CEOs, Senior Executives, Busy Entrepreneurs, and Boss Moms by holding them to the highest level of accountability to get in shape while increasing productivity and energy levels. She inspires clients to go from stuck to unstoppable in all areas of life-wellness, weight loss, business, and mindset!Lisa recently launched The WholeCEO Podcast, where she sits down with industry leaders in business, wellness, fitness, and mindset to discuss their insider secrets to being unstoppable, wrapped around their own personal journeys to dreaming bigger and never giving up...no matter what.Worst investment everThe not-so-clever weight loss planLisa used to take her health for granted. She used to think that she could eat anything she wanted and then work out.Lisa would drink and party like a rock star on the weekends and then eat healthily and work out during the week. And so she spent her whole life going on crazy diets, but they did not work long term.Coming up with a permanent solutionLisa went through so much pain trying to find a weight loss plan that would finally work. People were starting to make snide comments about her weight, especially since she was a workout person.These comments made Lisa hit rock bottom, and it was at her lowest that she discovered her Boss Weight Loss system.Lessons learnedYour body is your best investment everThink of your body as your best investment ever, and never forget that you are what you eat. You cannot be eating and drinking like a rock star every weekend and expecting to stay healthy just because on Monday; you will quit.Allow for some flexibility in your weight loss planHave a plan that allows a little flexibility because life is not so black and white. Always have some wiggle room in your plan.Andrew’s takeawaysHave a structure and a consistent weight loss planInstead of trying to starve yourself, start with a moderate weight loss plan that is consistent and has rules or structure.Actionable adviceBaby steps are the way to go. Pick one thing that you think you can consistently do, whether it is intermittent fasting, proper hydration, drinking water daily, cutting down carbs and sugar, etc., and focus on that one thing.No. 1 goal for the next 12 monthsLisa’s number one goal for the next 12 months is to impact a million people to live longer, have a better quality of life, have a better lifestyle, be healthier, have a stronger immune system, and realize that their health is their wealth.Parting words “Invest in your health. It will pay back in dividends more than you can count on with the stock market.”Lisa Goldenthal [spp-transcript] Connect with Lisa GoldenthalLinkedInTwitterYouTubeInstagramWebsitePodcastAndrew’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: Shane Torres is the CEO & Founder of Road to $20 Million. He is committed to helping people achieve real estate business success with life balance through valuable resources, business planning, and consulting for both entrepreneurs and real estate professionals.STORY: Shane started a home building company and roped in his wife as the designer and his friend as the project manager. He got overzealous with the business, took on more projects than the team could handle. This led to penalties from the EPA and the ultimate closure of the business.LEARNING: Do not force your employees to be like you, or have your personality. Great people still need coordination and leadership. Have a realistic perspective when exploring new business ideas. “Be upfront about expectations and processes. Also, ensure everybody understands what’s expected of each other.”Shane Torres Guest ProfileShane Torres is the CEO & Founder of Road to $20 Million. He is on a mission to redefine the journey to success and make it attainable for everyone.Shane is committed to helping people achieve real estate business success with life balance through valuable resources, business planning, and consulting for both entrepreneurs and real estate professionals. Regardless of industry or whether you hope to accomplish $1 or $100 million in production–Shane can help.Shane knows first-hand that success does not come easy. He faced countless personal and professional roadblocks, but he went from bankrupt, broken, and facing foreclosure to selling $20M in real estate in just four short years. Shane has built a highly productive team at his own company and lives a life he had only dreamed of living.Shane’s mission now is to help others to achieve personal and professional success and a balanced quality of life.Worst investment everShane always loved building houses, so he figured it would be a good idea to start a construction business. He brought on his wife to be the designer and his friend to be the project manager.Getting overzealousEverything was working out well, but Shane got a little overzealous and went from doing two projects to 20 something projects, building both rehabs and new homes. For the rehabs, Shane was, at the time, using some money lending facilities that had penalties for not getting done in a specific time.And next thing you know, Shane had six to 10 projects all come up to their maturity date at once. He was penalized a ridiculous amount of money by the EPA because the construction crew had not handled asbestos siding properly. He lost well over six figures in penalties in his first year of business.Pushing onFortunately, Shane had built up some money reserves, so he could weather the storm and not have to close shop as he had done back in 2009.But, tragedy kept following his business. His friend, the project manager, had some severe health issues, so Shane had to fill in for months, which he did not enjoy.Time to let goWhile holding his friend’s forte, Shane realized that he did not want to continue running this business. He talked to his wife about it, and they agreed that they would close shop once his friend got better.Shane later spoke to his friend, and he was also in agreement that they close down the business so each could focus on their other individual ventures.Lessons learnedDo not force your employees to be like youEveryone has their strengths and weaknesses. Do not force your employees to be like you or have your personality. This will only blow in your face.Andrew’s takeawaysBe realistic when exploring new business ideasWhen expanding into a different area or trying out a new business idea, often, things may seem easier than they appear. This could be quite deceiving, so always try to have a realistic perspective on things.Great people still need coordination and leadershipOne mistake most leaders make is to assume that great people know what to do and do not require guidance. But great people can do exactly what they know how to do and still go off in very different directions. So the job of a business leader is coordinating all your people’s efforts, including the great ones.There’s a difference between having a company culture and imposing oneThere’s a fine line between a company culture built around the leader and imposing the leader’s culture on employees. Understand where to draw the line.Actionable adviceDo a little more homework before you get started. Once you get started, be upfront about expectations and processes and make sure everybody understands each other’s expectations.No. 1 goal for the next 12 monthsShane’s number one goal for the next 12 months is to see his commercial development projects get a little farther along. [spp-transcript] Connect with Shane TorresLinkedInInstagramFacebookWebsiteAndrew’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: Tyron Giuliani is an Australian entrepreneur who moved to Tokyo on a whim, where he went on to work with 67 Fortune 500 companies to build their management teams in Asia. He hosted Vice President Al Gore in Japan after winning his Nobel Peace Prize.STORY: Tyron got introduced to two celebrity business moguls by his big shot CFO friend. The two were starting a new company and asked Tyron to invest. He said yes without understanding what he was getting himself into. The two partners did not see eye to eye businesswise, leading to the company’s death before it even got off the ground. Tyron lost $300,000 in the process.LEARNING: Don’t let ego mislead you into getting into a bad investment. Do not be blinded by the upside and let an expert do your due diligence for you before you invest. “Unless you truly know what you’re doing, have another person’s eyes look at your deals.”Tyron Giuliani Guest profileTyron Giuliani is an Australian entrepreneur, but after being injured and suffering a permanent disability while in the Australian Army, he left Australia on a whim and moved to Tokyo, Japan.He had one suitcase, no friends, no family, and no Japanese language skills whatsoever.Fast forward 22 years and he is still there, speaks Japanese like a 3-year-old, but has co-founded, founded, and partnered in three 7-to-8 figure businesses.He started his first business servicing weddings as an ordained minister, and that business provides wedding dresses to over 420 weddings a month.To working with 67 Fortune 500 companies to build their management teams in Asia, hosting Vice President Al Gore in Japan after winning his Nobel Peace prize, to opening a K-pop event space in Tokyo.And since 2017 coaching other B2B business owners his unique methods of transforming LinkedIn from a stale, resume profile approach to recreating your own personal mini-website in LinkedIn and using a sales funnel there to land clients.Worst investment everWhen Tyron first went to Japan, he started out teaching English. He soon realized that the country had a lot of potential, and so he was always on the look for opportunities.Tyron met a guy who was a CFO of a very famous Italian luxury brand, and they became good friends.Fast forward many years, Tyron was a partner in a recruitment firm. He got in contact again with his friend. At the time, he was the CFO of Virgin Cinemas in Japan, and he was friends with Richard Branson and was quite a well-known guy.Investing in the who is who in businessTyron later got a call from his CFO friend saying that he had an investment opportunity for him. Knowing how much influence his friend had, Tyron was indeed interested in the opportunity. He met with the CFO, and he introduced him to his old boss, who was a big shot in the business world. He had partnered with an award-winning creative director. Investing in two big shots sounded like a good plan. Tyron was too excited to have been considered for this opportunity.The two guys were starting a nutraceutical company, and the plan was to get it to $300 million. Tyron was entirely sold to the idea, and so he invested $300,000 into the company. The two founders’ previous success blinded him, and he believed they would turn the company over in probably six months.Not as promising as it lookedThings did not go as Tyron had predicted. The two partners were burning through the cash, and they kept clashing about how to do things. One was very much about testing, while the other was about creativity.Tyron kept the faith, and he believed that the two partners would sort this out and make it work. But he never got involved. He never asked why progress was so slow or what the plan was. Tyron was just happy to be sitting at the big boys’ table.Running out of money and businessThe partners blew through all the money they had. They decided to get a round of funding, but as they went out to look for investors, the global financial crisis hit.All the investments dried up; the partners could not work together as much as they were friends at the start. They just closed and ceased operation. And there was Tyron with $300,000, now worth zero. That was a kick in the guts. Had he put that same money in Amazon stock, it would be worth $19 million today.Lessons learnedDon’t let ego mislead you into getting into a bad investmentDo not let the thrill of hitting it big get in the way of making sound investment decisions.Seek advice from an expert before you investIf you are not an expert in the area you are investing in, find someone to do the research and due diligence for you.Andrew’s takeawaysDo not be blinded by the upsideLook at everybody and everything equally. Do not trust any situation with your money blindly. Ensure that you do all the necessary research because there is a lot to look into before you give anybody your money.You have the right to know anything about your investmentWhen it comes to your money and your life, you have a right to ask questions. When investing in anything, ask as many questions about it as you want until you are satisfied that you know everything that you need to know.Failure in business is not illegalIf you find yourself in a situation where your business is falling apart, and you’ve got to exit it, just do it without turning to fraud or anything illegal. Be honest with the situation. If you started a business, did your best, and it did not work out, know that this is normal; it happens to the best of us.Actionable adviceHave two extra sets of eyes that are not involved in the deal to do the due diligence and give you an assessment.No. 1 goal for the next 12 monthsTyron’s number one goal for the next 12 months is to bring three to five staffing agencies together, consolidate them into one, make it better, and then sell it a year or two later for a nice figure.Parting words “Set aside your ego and know that if a deal looks too good to be true, it is probably. Always get someone to look over stuff for you.”Tyron Giuliani [spp-transcript] Connect with Tyron GiulianiLinkedInTwitterWebsiteAndrew’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: Russ Johns is a producer at The Pirate Syndicate. He helps people be SEEN, be HEARD & TALKED ABOUT... using LiveStreaming Media.STORY: Russ spent 15 years dedicating all his time to his job at the expense of his family and health. The company went through a merger and acquisition, and Russ’s role was made redundant, leaving him jobless. Russ’s biggest regret is spending so much time building someone else’s dream instead of his.LEARNING: Build skills that are marketable outside of work. Build your dream, not someone else’s. Invest in what interests you and brings you joy the most. “The worst investment is the one that you do not make. The time that you do not invest in what you are doing.”Russ Johns Worst investment everInvesting everything in his job at the cost of his family and healthRuss invested 15 years in an organization that he thought was amazing. He invested a lot of time at the cost of his family and health. He truly loved his job and had no desire to stop doing it.Getting phased outAs fate would have it, the company went through a merger and acquisition, and Russ’s position was no longer needed. And just like that, he had to leave an organization he had dedicated his life to for 15 years.The loss of his job was a tragedy that changed Russ’s life completely. It took him a while to recover from it.Picking himself upRuss had no choice but to pick himself up, recover from the loss, and come back in full swing. He had to learn new skills to keep going, but this time around, Russ decided to dedicate his time building his dream and not someone else’s.Lessons learnedDo what interests you and brings you joy the mostExplore and understand some of the things you might be interested in and learn about them. Learn what brings you joy and gratitude.Build your dream, not someone else’sBe cautious about how you spend your time and about investing in other people’s dreams. Instead, work on your own dreams.Add value to your life every dayAlways wake up with gratitude and create something of value every day. Be okay with who you are and where you are. As you go forward and create something new, you become something new.Andrew’s takeawaysTake advantage of the opportunities in front of youThanks to the internet age, you can take advantage of numerous tools and opportunities to build yourself. Make sure that you do.Build skills that are marketable outside of workYou have got to build a skill that is marketable outside of your job. Just devote a couple of hours every weekend or throughout the week to learn a new skill. If you do, you can secure your future income and happiness.Actionable advicePay attention.No. 1 goal for the next 12 monthsRuss’s number one goal for the next 12 months is to grow The Pirate Syndicate and help over 100 people produce their own shows, their own events, and their own activities to be seen, be heard, and be talked about.Parting words “Kindness is cool, smiles are free, and you enjoy the day.”Russ Johns [spp-transcript] Connect with Russ JohnsLinkedInTwitterFacebookWebsiteAndrew’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