My Worst Investment Ever Podcast

Eric Siu is the CEO of content intelligence software ClickFlow, which helps you grow your traffic while looking like a genius. He also owns ad agency Single Grain and has worked with companies such as Amazon, Airbnb, Salesforce, and Uber to acquire more customers.He hosts two podcasts: Marketing School with Neil Patel and Leveling Up, which combined have over 48 million downloads to date.He also speaks frequently around the world on marketing and SaaS. “If you keep chasing the money, you are going to run out of steam at a certain point, and you will not want to keep working at it anymore.”Eric Siu Worst investment everEric was in the first year of running his ad agency, and things were not going too well. So he decided to look for something else he could venture into. He ended up settling on the senior living niche that he believed would blow up in a few years.Partnering with his high school matesAt the time, two of Eric’s friends from high school were interested in Eric’s idea. They made a power team. One had a finance and operations background, another was a developer, and Eric had a marketing background.Together, they started a company called CareSprout. They each contributed $80,000 to start the company.Focusing on too many things at onceWhile the team was great, their heads were not in the game. Each partner had other things they were focusing on simultaneously, so they could not give their business the full attention it needed.Needless to say, the business did not work out even after going at it for two years. When they ran out of money, one of the partners suggested they raise more money, but Eric felt it was time to cut their losses, and so they did.Lessons learnedDo not chase the money; chase the opportunityDo not get into a business just because you want to make money. Go into it because there is an opportunity you can benefit from.Focus on one thing until you have it workingDo not be a jack of all trades. Work on one thing and nail it before you try to scale anything else.Make sure that your values and those of your partners alignBefore you get into a partnership, make sure that you vet the people you want to partner with and see if their values align with yours. Make sure that everyone understands their roles and responsibilities, and they are comfortable with them.Andrew’s takeawaysImplementing an idea is more challenging than you imagineImplementing an idea to fruition is such a huge challenge. It is better to work in an area, understand it, and then implement an idea in that area. Start small before you go big.Is your idea worth investing in?Before you turn your idea into a business, ask yourself if it is an idea that people can invest in. Can you confidently ask people to invest in your idea and guarantee them a return on investment?Money is secondary in businessMaking money should not be the primary goal of a business. The idea, the implementation, the passion, and the customers are the primary thing. Money is just a measure of success.Actionable adviceSlow down and think things through so you can have the tool belt to sidestep critical mistakes. So just be very intentional and slow down from time to time.No. 1 goal for the next 12 monthsEric’s number one goal for the next 12 months is to hit the Wall Street Journal bestseller list for his new book Leveling Up.Parting words “Keep going.”Eric Siu [spp-transcript] Connect with Eric SiuLinkedInTwitterYouTubeWebsiteAndrew’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

Dr. Britt Andreatta is an internationally recognized thought leader who creates brain science-based solutions for today’s challenges. As CEO of 7th Mind, Inc., Britt Andreatta draws on her unique leadership, neuroscience, psychology, and learning background to unlock the best in people and organizations. Her series of books, The WIRED TO™ Series: Books on the brain science of success, focuses on how we are wired to grow, resist, and connect. “Failure is information, and it helps us get better as long as you know what to do better.”Dr. Britt Andreatta In today’s episode, rather than focus on Dr. Britt’s story, we will focus on what she has learned about failure as a brain science researcher, author, speaker, and consultant. Leaders can apply these lessons to bring out the best from their teams.Lessons learnedBiologically, we are constantly sensing our environment, trying different actions, and trying to maximize our positive results. We are wired to learn through trial and error.Having goals and setting a standard, and achieving that standard is essential. But, it is also important to celebrate progress and effort.Leaders should refrain from focusing on their team members’ faults and instead focus more on their accomplishments. If a leader is all about the numbers, they will have a disengaged workplace.Care about how people feel, their sense of satisfaction, their sense of purpose, and their sense of feeling respected. These are the real performance indicators.When conducting performance reviews, have two scores: individual contributor score and team score.Using fear as a leader will always undermine performance because people cannot perform at their best when they are in a fight or flight state.Competition is excellent for driving performance but be sure to nurture healthy competition instead of a toxic competition.Andrew’s takeawaysThere is a difference between training and education. Training is about acquiring a skill, and education is about expanding the mind and bringing new information into the system.As a leader, it helps develop a common goal rather than giving everybody separate KPIs. Working separately makes it a lot harder for the team to cooperate and achieve a common goal.Actionable adviceEmbrace your true nature as a learning being. Failure is just the first attempt at learning. Therefore, create space for making mistakes, taking risks, failing, picking yourself up, learning from it, trying again, and letting yourself get better at something. Mastery takes time.No. 1 goal for the next 12 monthsBritt’s number one goal for the next 12 months is to launch her Brain Aware Manager training, a program on how managers can use brain science to bring out their teams’ best. She is currently putting the finishing touches on the training and will be launching it soon.Parting words “Go out and learn something fun.”Dr. Britt Andreatta [spp-transcript] Connect with Dr. Britt AndreattaLinkedInTwitterInstagramYouTubeWebsiteAndrew’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

Bracken P. Darrell is the president and CEO of Logitech. The company is worth 12x more than when he started there in 2012. “Failure is rarely fatal. But success is never final.”Bracken Darrell Worst investment everBracken once went to lunch with one of his board members at Logitech. His name is Neil Hunt. As they were chatting, Bracken asked Neil what he had worked on. At the time, Bracken did not know anything about the company Neil worked for.Neil told him that he had worked on an algorithm all day. It was an algorithm that was trying to help recommend something to users. He explained to Bracken that they already had a recommendation algorithm, but he was trying to understand why the two algorithms were bringing different results.Impressed by Neil’s curiosityNeil was the head of product at his company. Bracken was so impressed by the level at which Neil and his company were trying to understand their product and user behaviors to give their customers a good experience.Bracken invested in the company as soon as he got back to his office. He put in a lot of money into the company. The stock doubled in two months. In six months it had gone up by 250%.Something just did not sit right with his investment decisionThough Bracken was super impressed by Neil’s company, he had this little voice in his head that made him uncomfortable about the investment he made. Bracken felt uncomfortable because Neil was a member of his board, and he thought that this would be seen as a conflict of interest.Bracken thought that the smart move would be to sell his stock, so he sold half of it.The stock continued to double, and the more the stock went up, the more Bracken felt uncomfortable.He kept thinking that if people knew that Neil was a board member, they would think he had gotten insider information. Eventually, he sold his entire stock. The stock ended up going up 30-fold. The company is Netflix.Bracken should have known betterInstead of selling his stock, Bracken should have gone to his general counsel and inquired if he had done anything wrong. He would have been told that there is nothing wrong with investing in your board member’s companies.But Bracken never asked, so he lost so much money by selling a stock that has continued to grow tremendously over the years.Lessons learnedTrust your instinctsTrust your intuition on things that you feel are good for you. Chances are, they are good.Hold onto your investment for as long as possibleMost people get out of investments too early. When you invest, do not be afraid to hold on to it for as long as you can.Communicate and ask for adviceBefore you sell your investment, seek advice. If you are having doubts about your investment, communicate with the people involved. There might just be a better solution than selling your investment.Andrew’s takeawaysThink long termYou should look at your investing period over decades. So if you are 30 years old, you want to retire when you are 60. That is 30 years, but do not forget, you are probably going to live to be 90, that is another 30 years, so we are talking about 60 years. When you put 60 years into your head, it helps you think long term and not short term.Sometimes all you have to do is askIf there is anything that you do not understand regarding your investment, ask and get the help or advice you need. But do not keep it inside. Ask.Actionable adviceTake a long-term view of everything in your life because you will rarely go wrong if you bet on long-term trends.No. 1 goal for the next 12 monthsBracken’s number one goal for the next 12 months is to make tremendous progress on diversity and inclusion at Logitech.Parting words “Stay focused on the long term, and you will have a long successful life.”Bracken Darrell [spp-transcript] Connect with Bracken DarrellLinkedInTwitterWebsiteAndrew’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

Rachel Beck is the author of “Finding Your Way When Life Changes Your Plans: A Memoir of Adoption, Loss of Motherhood and Remembering Home,” she lives in Des Moines, Iowa, and is a rising voice in the movement of women’s storytelling.Her story is rooted in a cross-cultural, adoptive-family love story unlike any other. Lifted by wings strengthened through struggle, Rachel’s story flies in the face of society’s expectations for women to look a “certain way” and slip comfortably into the American Dream. “Take the time to build relationships because, in business, it is not about what you know; it is about who you know.”Rachel Beck Worst investment everBuilding friendships instead of business relationshipsRachel has always put her heart and soul into every project that she handles. Unfortunately, this has caused her to put emotions first, especially when dealing with business partners. Doing this has cost her a lot as she conducts her businesses.Rachel’s nature of being an empath has led her to make friends instead of building business relationships. Being friends with her business partners has lead her to trust people who have often not kept their part of the bargain.After a couple of mistakes, Rachel has learned how to build healthy business relationships founded on mutual trust.Lessons learnedLook for the red flagsIf something is too good to be true, then it is. Learn to keep your eyes open and look out for any red flags.Learn how to ask for helpFind role models who are successful in your area of interest and let them guide you. Do not let ego stop you from asking for help whenever you need it.Build healthy  business relationshipsTake time to invest in healthy relationships. You have no excuse not to do it because a smart entrepreneur knows that it is not what you know but whom you know that is important in business.Always be professionalJust because we are in a virtual world right now does not mean everything else goes away. This is not the time to stop being professional.Andrew’s takeawaysTrust your intuition but choose logic over emotionAlways listen to your intuition but remember that your intuition is different from your feeling. Your feeling goes longer, deeper, and stronger. But the point is, in business, you must choose logic over emotion. Put your feelings aside and focus on reason.Trust is critical in businessBusinesses should be based upon trust. Build trust with your business partners if you want your business to succeed even when you have contracts in place.Actionable adviceDo the research. Invest time into researching, do it, and then do it more.No. 1 goal for the next 12 monthsRachel’s number one goal for the next 12 months is to keep lifting people. She wants to shine a light on people in her network and give them the platform to get out there and tell their stories. [spp-transcript] Connect with Rachel BeckLinkedInWebsiteAndrew’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

When Jordan West was 23, he decided to buy a Taco Del Mar restaurant. He knew he had made a huge mistake at 2 pm the first day when only three customers had walked in (and two of them were his parents). For five years, he worked hard to grow sales every way he could think of and, in the end, tripled his revenue, which still didn’t seem to matter on the profit side. (He lost a lot of money).The one thing that he seemed to be the best at in his restaurant endeavor was marketing and getting people in the door. Fast forward to 2014, when his wonderful wife, Carmen, started a modest baby clothing line and was selling at craft markets. He asked Carmen if he could test running a few ads on Facebook, and the rest is history. He learned every up-and-coming strategy and tactic and helped grow her small start-up into a multi-million-dollar company. And it’s still growing to this day!Over the years, he realized what he is good at and what he is not good at. What he’s good at is marketing and helping others scale their businesses, which leads us to now.In 2019 Jordan started the podcast “Secrets to Scaling Your e-commerce Brand,” which is now in the top 50 business/marketing podcasts in multiple countries, including Canada and the United States. “That business idea you have will cost twice as much, and it is going to take four times as much time as you think.”Jordan West Worst investment everIn 2010, Jordan started thinking about going into business. His family was in the milling business, and he wanted to join in, but his family wouldn’t let him. And because he did not want to go to business school, Jordan thought what better thing to do than to purchase some kind of business and learn on the go.Buying a restaurant off CraigslistIn his pursuit to own a business, Jordan looked on Craigslist and found a Taco Del Mar restaurant. This was a Mexican chain restaurant that had had a lot of success in the past but was currently on a bit of a downward trajectory. But the restaurant itself was selling for about USD 25,000.Jordan figured he could afford to lose $25,000 should the business fail. What he did not factor in was all the money he was going to put in to run the restaurant, plus all the time he would have to spend running it.Getting into the real business of owning a restaurantRunning the restaurant was not as easy as Jordan had thought it would be. The biggest problem he faced was getting the restaurant to start making a profit. Year after year, the restaurant kept making losses.Jordan had it so rough that he had to work 60 hours as a paramedic just to try to afford the payroll.Time to call it quitsJordan kept pushing, trying to turn around the restaurant. But when one day he gave his landlord a check of $56,000, and it bounced, Jordan figured it was time to rethink his business venture. He just could not continue living in so much debt because, at this point, he had borrowed so much to keep the restaurant afloat.About six months before the end of the lease, Jordan went to the franchise headquarters and asked them to find someone to buy the restaurant. They found a buyer who could tell right off the bat that Jordan was desperate to sell. He ended up selling it for $25,000.At the end of it all, Jordan had lost $150,000 and five years of his life. This was indeed his worst investment ever.Lessons learnedMake sure you scrutinize all financial reports before buying a businessWhen buying a business, make sure that you scrutinize all possible financial reports to get proper financial projections.Learn how to read financial statementsLearn how to read a financial statement before you buy a business. This way, you will be able to see what the owners have been spending money on. When you can read and understand financial statements, you will see if there is any possible way to make money from that business.Take a look at the cash flow statement as wellWhen making your financial projection, be sure to look at the cash flow statement as well. This will help you figure out how much money you are going to need to keep the business afloat until you can make money.Marketing cannot save a sinking shipGreat marketing cannot save a business that does not have sound financials.Andrew’s takeawaysBe careful when investing in a restaurant because they are a very limited businessIf you are thinking about buying a restaurant, just know that it is a very limited business, and it is tough to scale a restaurant.Buying a small business is a trapThe biggest problem with investing in a small business is that you are limited in your revenue and resources. It takes a lot to get out of that trap.Understand the concept of working capital versus cash flowSeveral working capital items will come up when operating a business. So when you are making your financial projections to determine whether the company you want to buy will bring you enough cash flow, be sure to factor in operating losses as well.Sometimes the best way out is to take get outSometimes, it is best to take the easy exit and get out, even though you make a loss. It may be humiliating, but sometimes it is just better to sell it and count your losses when a business is bleeding money.Actionable adviceWhatever you think it is going to take, just know that it will take longer, and whatever how much you think it is going to cost, it will cost more.No. 1 goal for the next 12 monthsJordan’s number one goal for the next 12 months is to go mountain biking 100 times. So two times a week.Parting words “Do not make that bad investment.”Jordan West [spp-transcript] Connect with Jordan WestLinkedInFacebookWebsiteAndrew’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

Jess Larsen started his finance career on a mergers and acquisitions team with Citi. Later he founded several businesses; the three companies he currently co-owns are Graystoke Investments, Graystoke Advisors, and Graystoke Media.Jess was previously the Director of Special Operations and Intelligence Agencies practice for the management consulting firm the Arbinger Institute.Ten years ago, he co-founded a charity called Child Rescue Association that combats child trafficking through prevention campaigns, aftercare support, and undercover rescue missions.You can listen to him regularly on his podcast, Innovation & Leadership with Jess Larsen. “Cash flow is king.”Jess Larsen Worst investment everWhen Jess was in his twenties, he left Southern California and went back home to Canada, where he started an energy-focused private equity fund. Then some friends got him and his small group of friends into a deal with a billionaire. They co-invested in a company with exclusive rights to bring renewable energy technology for small hydro from Europe. The company had big deals tied up with guaranteed investment contracts from the Ontario government.Jess, his brother, and his partner did their due diligence, and everything was smelling like roses. The group decided to invest two and a half million dollars into the company.Failing to have controls in placeOne thing that Jess and the other investors failed to do was to verify what sort of a person the CEO was. They also did not have controls in place to determine how the CEO should use money from investors. They optimistically just assumed the guy would do what he said he would do.Instead of using the money to install the first unit, which could make the business cash flow positive, he started 12 other projects just to claim he had a good portfolio going. He thought this would make his portfolio more attractive for fundraising. So while the CEO was chasing other projects, he ran the business out of money.CEO manages to get more fundingInterestingly, somehow the CEO got a $50 billion public company to co-invest with the company. Jess tried to warn the new co-investors about how the CEO was running the company, but they chose to trust the CEO and invested $4 million. True to Jess’s prediction, the CEO squandered $4 million into useless projects that were not part of what he had promised his investors.Lessons learnedDo not forget to think about the downside tooDo not get too excited about the upside that you forget to think and prepare for a downside. Think about a scenario where your investment goes sideways. What if you need to remove the CEO or minority shareholder? What is the process to follow? Factor in such essential details before you sign on the dotted line.Cash flow is kingWhen you are cash flow positive, you have a runway to make mistakes, experiment, and still survive, and have another swing at entrepreneurship.Do not let over-optimism make you forget about risk managementThe over-optimism that turns somebody into an entrepreneur can sometimes be a hindrance in being an investor. It can make you relax and forget about managing your risk.Andrew’s takeawaysThere is no hack, shortcut, or secret to building trust; it builds over timeDo not just trust anyone right off the bat or after working with them for a short while. Always remember that trust is built over time.Ensure there are controls within the company you are investing inWhen investing in a company, ensure that controls within the business and on the money are strong. During your research process, find out if the accounts are in order and are updated regularly and on time.Be careful about concentrating on growth at all costsGrowth for growth’s sake, and growth at all costs, often just end up in disaster. So when investing in a CEO, go for one who not only focuses on growth but on risk management too.Actionable adviceThink of a higher return opportunity if you are looking for predictable ways to become financially independent.No. 1 goal for the next 12 monthsJess’s number one goal for the next 12 months is to work closely with real estate brokers to get off-market real estate deals that meet the Howard Marks and Warren Buffett contrarian investment by buying current cash flow at a discount.Parting words “If you are willing to learn solid financial tools and techniques, you can improve a lot of other people’s lives.”Jess Larsen [spp-transcript] Connect with Jess LarsenLinkedInTwitterWebsiteAndrew’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

Santiago Iñiguez de Onzoño is the President of IE University and a recognized influencer in global higher education. Iñiguez is also the Vice-Chairman of Headspring, a company owned by the Financial Times and IE Business School, providing custom education programs for companies worldwide.Iñiguez is the former Dean of IE Business School and has played a leading role in business education. He was portrayed by the Financial Times as “one of the most significant figures in promoting European business schools internationally.” He was the first European appointed as “Dean of the Year” by Poets & Quants (2017).He is the author of “The Learning Curve: How Business Schools Are Reinventing Education” (2011), “Cosmopolitan Managers: Executive Education That Works” (2016), and “In An Ideal Business: How the Ideas of 10 Female Philosophers bring Values, Meaning, and Innovation to the Workplace” (2020), as well as co-editor of “Business Despite Borders: Companies in the Age of Populist Anti-Globalization” (2018), all published by Palgrave Macmillan.Iñiguez is a regular speaker at international conferences and frequently contributes to different journals and media on higher education and executive development. He is one of the 500 Global LinkedIn Influencers. “Every business opportunity is a learning experience, not just an opportunity to make money.”Santiago Iñiguez Worst investment everSantiago’s worst investment was a personal investment that he did years ago in Brazil. He participated in all sorts of real estate development in the Northeast of Brazil.In 2007, Brazil was the land of promise and was close to holding the Olympic Games, so the government invested heavily. Many entrepreneurs came in, so Santiago participated in this personal investment because he fell in love with that piece of paradise.Not such a rosy investment after allWhile Santiago loved the investment he made in Brazil, its value has gone down with time because of the low value of the country’s currency. The Brazilian Real was about two Reals per Euro at the time. Now it is five Reals per Euro. So if Santiago tried to sell his property there now, he would definitely make a loss.Turning his worst investment into pure goldSantiago happened to be the only investor who built a house on the property in Brazil. He turned this spectacular house into a peaceful place where he can write and concentrate. It is now the place Santiago spends his holidays.Even though, from an economic standpoint, the property became a damaging investment, it has rendered so many positive personal experiences that Santiago does not regret having bought it.Lessons learnedDo not be too passionate that you forget to do your researchDo not become too passionate about investing to the point that you forget to do your research. Make sure that you get an expert’s assessment and then do your analysis.Andrew’s takeawaysDo not buy a house if you cannot see yourself in it for the rest of your lifeThe rule about buying a house is that you have to walk in and feel convinced that you want to live there the rest of your life. This is because a property is a significant thing, but sometimes it can be a trap. If you buy something because of a financial aspect, then you run into a potential pitfall. So look for something that you love.When investing in a foreign country, you are investing in two thingsAnytime you are buying something in another country, you are buying two things. You buy the currency of that country and that underlying asset. Unlike buying a piece of property in your own country where you buy just the asset. A lot of people get confused or forget about that.Actionable adviceDo not be too cautious when it comes to investing. Consider every business opportunity as a learning experience and not just a chance to make money. Allow every opportunity to be a chance to learn and develop your personality and become a better person.No. 1 goal for the next 12 monthsSantiago’s number one goal for the next 12 months is to focus on an ongoing project to grow the university. The university is now expanding its programs to become more international. [spp-transcript] Connect with Santiago IñiguezLinkedInTwitterWebsiteAndrew’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

Dave Kerpen is a serial entrepreneur, New York Times bestselling author, and global keynote speaker. Dave is the co-founder and co-CEO of Apprentice, a platform that connects entrepreneurs with the brightest college students, as well as the co-founder and CEO of Remembering Live, a virtual memorial service company. Dave is also the founder and Chairman of Likeable Local, a social media software company serving thousands of small businesses, and the co-founder and Chairman of Likeable Media, an award-winning social media and content marketing agency for big brands. Dave’s newest book is “The Art of People: 11 Simple People Skills That Will Get You Everything You Want.” “The greater the risk, the greater the reward.”Dave Kerpen Worst investment everDave was a young entrepreneur when he got caught up in an opportunity to invest with a venture capital firm. He was drawn in by the allure of feeling like a venture capitalist, and it seemed exciting to be investing in fantastic deals and alongside terrific people.This excitement blinded Dave from vetting the opportunity nor understanding it first before putting $30,000 into it. This was quite a substantial amount for him at the time.Lack of communicationWhat took Dave aback concerning this investment was a real communication gap between the folks running the firm and their investors. The investors never received any communication regarding their investment or how the company was performing.Dave felt uncomfortable about the poor communication after a while. He even reached out to one of the other investors, who confirmed that he was also going through the same lack of communication experience.Where there is smoke, there is indeed fireThe lack of communication continued, and the fund was eventually shut down. Dave never saw a dime, but worse, he never got to know what happened to his money, which, sadly, he lost.Lessons learnedForget the glitz and glamour; understand your investment firstDo not get caught up in the glitz and glamour of investing. Instead, do your homework to understand what you are getting yourself into. Do thorough research until you feel more comfortable about the investment.Understand risk and rewardBefore you invest in anything, make sure you understand what the risk is compared to the reward. To protect yourself from risk, invest different amounts of money based on your ability to stomach the loss. Do not invest everything you have into one speculative investment venture. Instead, diversify your investments.Understand what your communication needs as an investor areKnow what your communication needs are. Go in knowing if these needs are going to be met or not. First, you should have access to the publicly available data regarding any investment you are interested in. You should also be able to get regular communication regarding the performance of your investment.Andrew’s takeawaysScammers will come at you genuine peopleThere are plenty of scams that come across as extremely legitimate. In fact, that’s what they are good at, looking real. So be very careful about the people you invest with.Choose an investment option that gives you liquiditySome investment options have more liquidity than others. If you put your money into a listed company in the stock market and things do not go well, you have the option of exiting and getting money invested. But when you go into private equity or venture capital, it is much harder to exist and make money out of it.Size your position and diversify to avoid losing moneyIf you do not size your position, you run the risk of being wiped out. So if you find an opportunity that you are excited about, put a small amount of money in it instead of all your money, then watch how it performs and increase it over time. Invest the rest of your money into other different positions.Actionable adviceDo thorough research. This will save you from losing money.No. 1 goal for the next 12 monthsDave’s number one goal for the next 12 months is to focus on his health by getting fit, eating well, exercising, and getting a little bit more sleep. [spp-transcript] Connect with Dave KerpenLinkedInTwitterWebsiteAndrew’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

James Leong is the founder of Visions One Consulting, a training consultancy that teaches finance to non-finance people. Using his unique Financial Storytelling approach, James can simplify a complex and dry topic to make learning joyful and fun. James has helped thousands of university students and non-financially trained people grasp finance and accounting easily, empowering them to make better decisions. The Singapore Business Review has featured James as one of ten influential professional speakers in Singapore. James is also a CSP (Certified Speaking Professional), a recognition earned by the top 12% of professional speakers worldwide. “Go and seek your passion. I think that is what gives us joy and happiness in life, which is ultimately the most important thing.”James Leong Worst investment everJames got into investing when he was a freshman. Having some knowledge in finance and accounting, he believed he understood numbers.There was this particular young startup listed on the stock exchange. It was a newly IPO company with a lot of hype and tremendous growth prospects. Not a week could go by before an analyst said something great about this company. And, of course, the share price would keep going up. This attracted James’ attention, and he invested a substantial amount in the company.Making huge returns before trouble startsEverything leading up to the IPO was perfect. The growth curve, sales, revenue, everything was going up. IPO year was the best year. The shares made huge returns.After the first year, things started getting rocky for the company. The numbers began dipping. Unfortunately, at the time, it was hard to find financial reports. Investors had to rely on what analysts were saying. While the numbers showed that the company was doing poorly, analysts kept saying that it would turn around. So James ignored the numbers and held onto his shares.Unfortunately, the numbers never went back up, and after three years of making nothing, James finally sold his shares though he did not make much from them.Lessons learnedKnow your numbers and trust themKnow your numbers because numbers speak the truth. Get financial reports that go as back as 10 years and look at the numbers. These numbers will save you from making your worst investment ever. Do not let the story override the numbers, always pick up the story with numbers.Know how much risk you can afford to takeFind out your psychological makeup, what can be absorbed, and how much volatility you can take within your portfolio. This will always help you manage your risks.Andrew’s takeawaysKeep your market exposureThe best way to keep your market exposure for the long-term is to buy an ETF or an index fund.Own 10 stocks, not more, not lessFrom his own research and what he has learned over the years, Andrew’s advice is if you are going to buy stocks in the stock market, own 10. Not more and not less than 10. If you buy less than 10, you will not be fully diversifying, and buy if you buy more than 10, you might as well buy an index fund. So if you want to be a stock picker, build a portfolio of 10 stocks.Actionable adviceTake a course on how to read financial statements and reports so that you at least understand the basics.No. 1 goal for the next 12 monthsJames’ number one goal for the next 12 months is to complete his book that will allow anyone with no financial background to learn and grasp finance and accounting easily.Parting words “Keep learning. Learning never stops.”James Leong [spp-transcript] Connect with James LeongLinkedInTwitterWebsiteAndrew’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

Billy Samoa Saleebey is an entrepreneur, podcast host, and award-winning filmmaker. He has led learning and development organizations for some of the most disruptive companies in the world, including Tesla, where he was Head of Global Sales & Product Training.He is currently CEO and Co-Founder of Podify, a podcast agency that provides production and promotion services to companies and individuals who want to create a podcast.He is also President & Founder of Insight Media, a Los Angeles-based production company specializing in podcasting and digital media.In addition to being the host of For the Love of Podcast (a podcast about podcasting), he’s also the host of the podcast Insight Out, where he interviews best-selling authors, entrepreneurs, and thought leaders to uncover powerful insights, reveal why they make an impact, and explain exactly how they can be applied. “There is only one you. There has only been one you, and there will only ever be one you. That is your competitive advantage.”Billy Samoa Saleebey Worst investment everBilly had a great job at Tesla, arguably, the most disruptive company on the planet. He had worked in the corporate world for about 10 years. Billy truly enjoyed doing sales, and it came easy for him. He loved being real, honest, and speaking from the heart. And so his career blossomed.Enjoying the safety net for far too longBilly was very fortunate to get multiple roles in leadership and management. He moved from manager to director during the 10 years. Billy’s position was a relatively high and prominent one at a global level. He had a team in Asia, North America, and Europe. He felt good about his career and never saw an exit point from it. He was happy.His role becomes obsolete suddenlyIn January of 2019, it was decided that Billy’s role was unnecessary because there were team leaders in North America, Europe, and Asia. And so his position was eliminated.Billy admits that though this came as a shock to him, it was a relief in many ways. He had known that he was ready to go out on his own for a long time, but he just never put in the time to figure out what exactly he was going to do.Making his worst investment everAfter Billy was relieved of his duties, he decided to take his stocks and parlay them into more money. At the time, he had zero experience in the stock market. But he chose to learn day trading. He did it for about a month and made about 40 grand by making a few short trades. This made Billy get this false sense of early success.Feeling confident, Billy cashed in his Tesla shares. He had over 1,000 Tesla shares, which he cashed for $300 a share. Now, had Billy not touched those shares, they would be worth almost $4 million today.While Billy’s poor investment decision cost him a lot of money, what he feels was wasted was the time he spent doing day trading. He spent the next six months day trading after he cashed his Tesla shares, and he never quite made much in return. He regrets that those are six months he would have spent building his business.Lessons learnedTime is more precious than any amount of moneyMake sure that you always spend your time wisely. When you dedicate your time to anything, make sure it is fulfilling in the long term, and not a shortcut that you think will give you a quick benefit.If you make a wrong turn, fret not, you can always pivotIf, for some reason, you find yourself doing something that you are not passionate about and you are struggling with it, stop and pivot. It is never too late to start doing what you have always wanted to do. Just make a hard pivot now, and you can make up for the lost time.Andrew’s takeawaysInvest your time in long-term thingsIf you want to invest your time and money into something, make sure it will bring you long-term benefits.Listen to your gut and your instinctAlways listen to your gut and your instinct when making investment decisions. It is also essential that you separate feelings from instinct. Instinct is that sensation you feel when you know something is not right.Know when to pivot and be willing to pivotIt does not matter what happened yesterday; that is gone. You have to think about the future and decide whether it is time to pivot and, if yes, be willing to do so.It is tough to accumulate wealth from day tradingEven though day trading is so seductive, rigorous academic research shows just how difficult it is to make money from it, especially in the long term.Actionable adviceEvery morning when you wake up, remember that you have a decision to make on what you can do and how you use your day. Be intentional with that decision. Your intentionality should be tethered back to a central purpose and theme. So get clear on what that theme is.No. 1 goal for the next 12 monthsBilly’s number one goal for the next 12 months is to help as many people as possible to amplify their message and voice through podcasting.Parting words “Every single thing that you do make sure that you do it because you want to do it. Not because other people think you should do it.”Billy Samoa Saleebey [spp-transcript] Connect with Billy Samoa SaleebeyLinkedInTwitterFacebookYouTubeWebsiteAndrew’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