My Worst Investment Ever Podcast

BIO: Adrian Choo is a Career Strategist in Asia and the founder of Career Agility International. Sze-Yen Chee is the Executive Director/Co-founder of Career Agility International and is a top Singaporean career coach.STORY: We look at their book The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).LEARNING: Your career is not everything. “You’re more than your career. You can fail in your career, but you haven’t failed in life.”Adrian Choo and Sze-Yen Chee Guest profileAdrian Choo is the One and Only Career Strategist in Asia and is the founder of Career Agility International. Sze-Yen Chee is the Executive Director/Co-founder of Career Agility International and is Singapore’s top Career Coach. Together, they wrote a great book: The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).In today’s episode, we’re going to do things differently. Instead of talking about Adrian Choo’s worst investment ever—we already did that in episode 495—we’ll talk about the book he’s co-authored with Sze-Yen Chee: The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).The book idea is bornPost-COVID, Adrian and Sze-Yen noticed a shift in values manifesting in the form of quiet quitting and the Great Resignation. Many people were still coming to terms with that. This led to the idea of writing a book to amalgamate and put together all the observations they’d made.One of the reasons why the authors named the book The Great Career Paradox is because they noticed a fascinating trend where many believe that to achieve personal happiness, they must have career success. They work hard to drive their career success and don’t care about other things in their life, such as their health, family, hobbies, etc., that are equally important. Then they achieve success, yet they feel empty inside. To fill this gap, they work even harder in their career to get even more successful. And hence, a career paradox that you cannot achieve happiness through just your career.Breaking out of the career paradoxAdrian and Sze-Yen wrote their book to help people break out of their career paradox. They use their wisdom to help their readers manage the little speed bumps people experience in their career journey.The book will help readers take care of the career path aspects of their life or at least be aware of what they can do to manage their careers better. That gives them a lot more bandwidth, time, and mind space for the things that really matter—including family, hobbies, health, etc.The book gives you clarity and introduces you to new logic and different points of view toward career progression.Your career is not everythingOne of the biggest things that Adrian and Sze-Yen want to dispel is that your career is everything. You’re more than your career. You can fail in your career, but that doesn’t mean you have failed. It’s just a job. You can recover.Adrian and Sze-Yen emphasize the need to find your life’s purpose and plot your career strategy around that purpose instead of making your career your purpose.Andrew’s takeawaysNot everybody is driven by the goal of achieving a lot in life. Some people want a good job and don’t want to push everything to the limit. So bosses need to understand the different motivations different employees have.As a boss, you must know that people go through all sorts of seasons and will therefore be different people during those seasons.Actionable adviceAdrian advises career professionals to know when to pull back to avoid burnout. He suggests approaching your career the same way a professional athlete approaches theirs. They never train excessively to avoid injuring themselves.Sze-Yen’s advice is to continue growing no matter the season you are in. Continue accumulating skills, sponsors, and mentors, and keep up with current trends because the world is changing at an unbelievable pace. So always have a future-oriented growth mindset. [spp-transcript] Connect with Adrian Choo and Sze-Yen CheeLinkedIn (Adrian)LinkedIn (Sze-Yen)BookWebsiteAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Litan Yahav sold a startup, decided to invest a lot of the money he made into real estate - mainly syndications, and encountered a lot of (good) problems managing it. That led him to build a new startup to solve his problems and similar problems of millions like him.STORY: When Litan sold his company, he and his co-founder decided to buy single-family homes in Ohio via a property management firm. The two never anticipated the challenges they’d encounter from tenants and the municipality.LEARNING: Investing in single-family rental properties is never really passive. Buying a single-family home is riskier than investing in an apartment block. Buying properties far away from you is just full of risks. “Investing in real estate is long-term and can generate excellent returns. But there’s also a huge chance it’ll be a flop.”Litan Yahav Guest profileLitan Yahav sold a startup, decided to invest a lot of the money he made into real estate - mainly syndications- and encountered many (good) problems managing it. That’s what led him to build a new startup to solve his problems and similar problems of millions like him.Vyzer is the platform for investors with complex portfolios to manage cash flows, get insights and build wealth.Worst investment everLitan sold his company and made some good money. He and his co-founder decided to invest in index funds. They also wanted to get into real estate. So they met with friends and friends of friends and friends of their friends. The duo then decided to buy single-family homes in Ohio through a guy who did real estate there.The idea was to work with a property management firm to help find tenants for their single-family homes. The co-founders settled on buying two single-family homes in Cleveland, Ohio. The houses were very cheap; each one was like $60,000.From the moment the duo transferred money to the title company and bought the homes, it became one long sequence of bad events involving tenants and the municipality. Some tenants refused to pay rent, and others destroyed their homes. The municipality forced them to fix things that were under its responsibility. Eventually, the two decided to cut their losses and sell the properties.Lessons learnedInvesting in single-family rental properties is never really passive.Buying a single-family home is riskier than investing in an apartment block.Apartment blocks, unlike single-family homes, allow you to diversify your risk across different tenants.Understand the implications of buying property abroad.Andrew’s takeawaysBuying properties far away from you is just full of risks.Actionable adviceAlways be in that mindset that investing in real estate is long-term and can generate excellent returns. But there’s also a huge chance that it will be a flop.Litan’s recommended resourcesLitan recommends reading the book Never Split the Difference: Negotiating As If Your Life Depended On It to understand the art of negotiating. This is because everything in our life is based, at the end of the day, on our ability to negotiate.No.1 goal for the next 12 monthsLitan’s number one goal for the next 12 months is to secure another round of funding so he can scale his business to bring value to as many people as possible.Parting words “You’ll never learn if you don’t fail. So take yourself out of your comfort zone and find a way to fail so that you can get better.”Litan Yahav [spp-transcript] Connect with Litan YahavLinkedInTwitterFacebookWebsiteAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Chris Do is a self-described loud introvert, recovering graphic designer, middle child, serial entrepreneur, Emmy award-winning director, educator, and founder of TheFutur.STORY: Chris’s business was based on the West Coast, and they wanted to expand to the East Coast for a bigger market share. So they opened a small office hemorrhaging money and didn’t generate substantial revenue.LEARNING: You can’t export your core competency. Optimize your business before you scale. “Optimize your business before you scale. Because when you scale, you scale all the success and all the mistakes.”Chris Do Guest profileChris Do is a self-described loud introvert, recovering graphic designer, middle child, serial entrepreneur, Emmy award-winning director, educator, and founder of TheFutur.Chris has an audacious mission of teaching one billion people how to make a living doing what they love.Worst investment everChris’s company was a West Coast LA-based motion design firm. They realized that for the business to get the market share they wanted, they needed to have an East Coast office. They rented a small office and renovated it. They hired an office manager, an executive producer, and a creative director to run it for them. No one from the West Coast office wanted to live on the East Coast. So they had to run two offices incurring double the expenses, but we’re still not growing their revenue. Now they were shrinking profit.This happened over five years. The company was putting more money into the East Coast office year after year with no reliable revenue. Ultimately, they closed the office because it didn’t work for them.Lessons learnedDon’t put good money after bad.You need to export your core competency.Optimize your business before you scale.Do an accurate cost-benefit analysis and understand your risk.Andrew’s takeawaysYou can’t have someone else fight your battles; you’ve got to be on that front.Always consider all the possible risks when you’re looking at expanding your business.Get monthly, accurate, and on-time financial statements.Actionable adviceBefore you expand your business, question your assumptions and analyze whether the effort is worth the risk.No.1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to launch his mastermind, a high-level group for people making between one to 5 million a year. [spp-transcript] Connect with Chris DoLinkedInTwitterInstagramWebsiteBookAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Cesar Hasselmann is an author, mentor, coach, and business consultant.STORY: Cesar started a very successful gas and supermarket distribution network when he was only 16 years old. Unfortunately, about three years later, his country’s president stole public funds and caused most businesses, including Cesar’s, to suddenly collapse.LEARNING: Challenges make you a better entrepreneur. Everything has a time. Understand the macro environment. “Make your business and life work for you, not the other way around.”Cesar Hasselmann Guest profileCesar Hasselmann is an author, mentor, coach, and business consultant. After helping multinational and international companies adjust and succeed in their projects, he began to branch out and help small to medium business owners achieve success and founded AMH Consultancy.Worst investment everWhen Cesar was 16, he started his first distribution business in Brazil. His family knew some business people who owned industries, and he got to distribute their products through different channels. One of the most successful channels was a small gas station he’d started.Later, Cesar opened several gas stations and now had a successful network. This opened more opportunities for him, and he started selling for all the big gas station brands, like Shell. Cesar asked his brother to join him in the business as a partner. His brother left his job at Coca-Cola and joined him. The brother took over the supermarket distribution channel.The business grew, and they started adding more products. The two brothers were experiencing great success until the president stole public funds with the excuse of paying the country’s debt. Everything started to collapse, and the whole country was scrambling. The only money businesses could hold was the new money coming in because the money they had saved was gone—this crippled Cesar’s business.Lessons learnedChallenges make you a better entrepreneur.Everything has a time—be mindful of making decisions too late or too early in the process.Don’t start a business if you don’t know where you’ll end up or how it will impact your life in the next 20 years.Work today on the things you want to see happen. Don’t wait for tomorrow. It’s too expensive, time-consuming, and stressful.Andrew’s takeawaysUnderstand the macro environment.Understand the currency you’re using and what’s going on with it.Investing is about risk, and sometimes bad things happen without warning.Actionable adviceKnow your magic numbers. Also, have your plan in place. So if you have a family business, you must have a succession, acquisition, or sales plan. You need to be ready to sell every day.Cesar’s recommended resourcesCesa recommends reading his upcoming book, The Life Break Through (available in the next 30 days). This book is about business, family, and personal cycles. Cesar broke down these cycles to allow people to understand their different emotions and their impact on their businesses.No.1 goal for the next 12 monthsCesar’s number one goal for the next 12 months is to have two properties—100% percent paid out—and $1 million in his bank account.Parting words “Make the best use of my experience to put yourself in the place where you’re fulfilled and have a better life.”Cesar Hasselmann [spp-transcript] Connect with Cesar HasselmannLinkedInTwitterInstagramWebsiteAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Michael Bungay Stanier is the author of seven books that have sold over a million copies between them. He’s best known for The Coaching Habit, the best-selling coaching book of the century and already recognized as a classic.STORY: Michael had $5,000 that he wanted to invest. He tasked his wife with finding the most suitable investment option. She found e-trading. They opened an online account and bought one share from about 20 companies. When it was time to sell, they lost almost half the remaining value of the portfolio to selling fees.LEARNING: If you’re struggling with investing, find a trusted financial advisor to manage your investments—separate creating wealth from growing wealth. Understand the nature of the markets before you invest. “If you’re not going to be good at this, find somebody else who is. Then go find something else you can be good at.”Michael Bungay Stanier Guest profileMichael Bungay Stanier is the author of seven books which between them have sold over a million copies. He’s best known for The Coaching Habit, the best-selling coaching book of the century and already recognized as a classic. His new book, How to Begin, helps people be more ambitious for themselves and for the world. Michael was a Rhodes Scholar and plays the ukulele badly. He’s Australian, and lives in Toronto, Canada.Worst investment everIn 2000, Michael was finally earning enough salary to invest some of the money. He had $5,000 that he wanted to invest. He talked about it with his wife and asked her to find out how best to invest the money.Michael’s wife returned with a plan to do e-trading, where they could set up an investment account online and buy stocks. This sounded like a great plan. They set up an account and purchased one share from 20 companies they liked. Over time, none of the shares increased massively, so they decided to close the portfolio. This meant they had to pay a fee for every share they sold. So they not only lost money on the portfolio but also lost about half the remaining value of the portfolio to the costs of selling.Lessons learnedIf you’re struggling with investing, find a trusted financial advisor to manage your investments.Don’t buy just one share of a company.Understand how the fees you pay will influence your investment portfolio.Understand the story you have around money and how you grew up influences your relationship with money.Andrew’s takeawaysMany people go into the stock market thinking they’re going to create wealth when they should focus on growing it.Try to understand the context of where things are in the markets before you invest.Before you invest, ask yourself if you have an interest in investing, you have the time and the knowledge. If you don’t have these things, keep it simple, like buying a fund that owns every stock in the world.Hiring a professional financial advisor to work with can bring you great value.Actionable adviceThink about what you want to do with money. What does success with money look like for you?Michael’s recommended resourcesMichael recommends checking out resources on MBSWorks if you’re interested in figuring out the next big thing for you and how you might claim ambition for yourself in the world.No.1 goal for the next 12 monthsMichael’s number one goal for the next 12 months is to move into claiming writer more thoroughly as an identity.Parting words “If you take one thing away from this conversation, may it be to learn to stay curious a little bit longer.”Michael Bungay Stanier [spp-transcript] Connect with Michael Bungay StanierLinkedInTwitterYouTubeWebsiteBooksPodcastAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Dr. Robert Glover, coach, speaker, and educator, is a relationship expert with over 40 years of professional experience.STORY: Robert went shopping for a pop-up trailer, and when he found one, he bought it before inspecting it thoroughly. His gut told him this was a terrible idea, but he ignored it. The trailer turned out to be useless to him. He sold it off for half what he’d paid for it.LEARNING: Listen to your intuition. Suffering is also the path to joy. Don’t get too attached to anything. “Have a wisdom council that you go to when you have to make important decisions.”Robert Glover Guest profileDr. Robert Glover, coach, speaker, and educator, is a relationship expert with over 40 years of professional experience. The author of the groundbreaking, No More Mr. Nice Guy, Dr. Glover has helped thousands of men and women worldwide get what they want in love, sex, and life.Worst investment everIn the early 90s, Robert was a poor entrepreneur trying to build his counseling practice. Money was tight at the moment. His family vacations were camping. Robert really wanted something that would accommodate the family, but he didn’t have much money.Robert decided to buy a camping pop-up trailer. He knew he couldn’t afford a new one, so he started looking on Craigslist and found one. Robert had saved up about $1,000. He took his wife, and they went to look at this particular trailer. It was an old Coleman hardshell pop-up that seemed like just what he was looking for. It was old but not terrible. Robert thought he could fix it and give his family something to camp in. So he talked with the owner, reached a deal, and signed off on it. When it was time to crank the trailer up, it refused. Robert felt uneasy but had already agreed, signed the sales paper, and handed over the money. He was already visualizing how he could pimp up the trailer and go on camping trips. But something just felt wrong. Unfortunately, he overrode that feeling.Robert managed to get the trailer home, but it was a challenge to get the pop-up raised. He then started working on the trailer, got it fixed up, and finally, on the United States Memorial Day, Robert’s family joined some friends who had a pop-up camper trailer. They went out camping at the ocean shores in Washington State. It rained all weekend long. When Robert tried to get the pop-up down, it refused. The best he could do was to get the lid down. The cogs for the wheels that make it go up and down were faulty.When the family returned home, Robert put the trailer in the garage. He tried to replace the faulty parts for weeks, but none of the dealerships sold them. So the trailer sat in his garage for a long time as a painful reminder that he’d ignored his gut. He advertised it, and luckily, somebody came in and bought it for about half what he’d paid for it.Lessons learnedTake advantage of opportunities when they come but don’t get too attached to a specific outcome and override your senses.Listen to the intuitive sense within you.Check in with people who know you well. Tell them what you’re thinking and feeling, and ask them for their feedback.Suffering is also the path to joy. The mistakes you’ve made that caused you to suffer can be transmuted into joy and better decisions.Andrew’s takeawaysTry to raise your awareness of intuition because that’s the first indication of whether something’s good or bad.Make sure you’re not attached to objects or relationships because things come and go. So don’t try to hold them too tightly.When trying to make a decision, talk to someone before you act.Listen to your intuition.Actionable adviceStart building a wisdom council when you’re 16. Find somebody who can ask you the right questions and let you make your own mistake. Your council shouldn’t consist of your friends, who are just as stuck and clueless.Robert’s recommended resourcesRobert recommends reading books by Thích Nhất Hạnh, a Vietnamese monk nominated for Nobel Peace Award by Martin Luther King, Jr.No.1 goal for the next 12 monthsRobert’s number one goal for the next 12 months is to build a membership community and make it available to everyone on the planet, regardless of age or income, where they can find a tribe, community, and resources. He also plans to finish three more books that he’s working on.Parting words “Thank you. This has been fun.”Robert Glover [spp-transcript] Connect with Robert GloverLinkedInYouTubeWebsiteBookAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBest Business Book ClubBecome 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: Shil Shanghavi is a public speaking specialist, storyteller, and highly regarded speaker coach. He is redefining the meaning of public speaking by demonstrating its value across all forms of communication.STORY: Shil’s worst investment was paying for ecstasy for over 15 years. However, this also turned out to be his best investment because he discovered house music while high on drugs. He learned to speak to music to control his stuttering and talk fluently.LEARNING: Find a way to flip your challenges into your success story. Reach out to people around you when you need help. Write your thoughts down but don’t feel compelled to action them immediately. “Find your elite, and don’t let it scare you.”Shil Shanghavi Guest profileShil Shanghavi is a public speaking specialist, storyteller, and highly regarded speaker coach. He is redefining the meaning of public speaking by demonstrating its value across all forms of communication.Shil is the Head of Speaker Coaching for TEDxPerth, a Board member of Guerrilla Establishment, and a presentation mentor with Impact100 WA. He is a pioneer in his field, having introduced the concept of public speaking in virtual reality and artificial intelligence—two groundbreaking approaches which are disrupting the speaking game.In 2021, an award-winning short film documentary of Shil’s life story was released globally. The documentary is an intimate, behind-the-scenes look at Shil’s story, documenting his public speaking journey.Worst investment everShil was born with a stutter which got worse as his life progressed. All through school and around other kids, Shil got teased, ridiculed, bullied, ignored, and dismissed because he couldn’t talk properly. That continued when Shil moved to Australia. The horrible treatment made his stuttering even worse. It continued through to university.In university, Shil was around people older than him studying subjects he’d never come across. And because of that, Shil thought they were more intelligent, educated, and better than him. His stuttering made people distrust him and think of him as incompetent. So Shil was always excluded from assignments, team meetings, and discussions. He never felt like he belonged or had a place in the world.One day, Shil was invited to a party. During the party, he was standing around a group of people, and one of the guys in this group offered Shil a little blue pill. He didn’t know what it was at first. The whole group turned to look at Shil, and they all urged him to take this pill, and that’s when it struck him that this was some drug. He’d never taken drugs before but wanted to fit in, be liked, and belong. So Shil took the pill. The following eight hours were phenomenal. It was one of the most incredible things he’d ever felt. Everybody was his friend. Nobody laughed at him when he stuttered; they instead laughed with him, which felt really good. From that moment, Shil got hooked on drugs and ecstasy because of that feeling of acceptance.The drug addiction continued for more than 15 years. This addiction made Shil fall in love with progressive dance and house music. He would sit on his couch, a buddy’s couch, or at a party for hours and hours, immersed in the high while listening to house music. He did it repeatedly, for hours. As Shil was listening to house music, he started speaking to himself. The more he listened to the music, the more he started correlating what he was saying to the rhythm of the house music playing in his head. Shil learned that house music operates at a four-on-the-floor beat. He memorized how house music plays by understanding time signatures. Then he started speaking to the time signatures. This taught him to speak to music to control his stuttering and talk fluently. That’s how a $35 investment in ecstasy ended up being one of the worst and best investments of Shil’s life.Lessons learnedIf you have a challenge, find out how you can flip that challenge and make it your success story.Write your thoughts down but don’t feel compelled to action them immediately. Let them sit, embrace the silence, percolate them, and come back when it feels right.Take care of your mind and your body. The more you take care of your body, the more it will take care of you.Find the style of music you enjoy, and create a peaceful influence out of it.Andrew’s takeawaysReach out to people around you when you need help.Actionable adviceFind your elite, and don’t let it scare you.No.1 goal for the next 12 monthsShil’s number one goal for the next 12 months is for his mom and dad to watch him present live.Parting words “Please don’t take what I said as a literal thing. However, if you can take one thing away from this, please do and make sure you action it.”Shil Shanghavi [spp-transcript] Connect with Shil ShanghaviLinkedInFacebookInstagramWebsiteAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBest Business Book ClubBecome 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: Mike Michalowicz leads two new multi-million-dollar ventures as he tests his latest business research for his books.STORY: Mike made huge profits from selling his second business, and his ego as an entrepreneur exploded. He took the gains and decided to fund multiple companies in different industries where he had no experience. They all failed and left him with zero assets.LEARNING: Stay in your lane. Take time after selling a business to think before you rush into another investment. “If you don’t know a space inside and out, don’t get into that business.”Mike Michalowicz Guest profileMike Michalowicz leads two new multi-million-dollar ventures as he tests his latest business research for his books. He is a popular main-stage keynote speaker on innovative entrepreneurial topics. He is the author of eight books, including Profit First, and Clockwork, which have transformed over seven hundred thousand businesses.Worst investment everMike started his first company out of college. He sold it in a private equity transaction and started another business. The second business was data forensics and computer crime investigation, doing defense analysis. The company had big clients who put it on the map right away. That business grew bootstrapped very rapidly and was acquired by a Fortune 500 company one and a half years after its inception. With this sale, Mike became a self-made millionaire in his early 30s.Mike’s newfound success made him believe that he knew everything about entrepreneurship. His ego exploded. He decided to amplify his new lifestyle to mega status by becoming an angel investor. Mike decided to start and fund multiple businesses simultaneously. He had no experience in any of the businesses and didn’t even know what the term angel investor meant. The companies Mike funded were all start-ups in different industries that didn’t complement each other. He was just all over the place. Mike thought this would be the best thing he’s ever done. But it wasn’t. None of the businesses got any traction.One day Mike’s accountant called him and told him he had two options; to declare bankruptcy or liquidate his remaining assets. He chose to liquidate his assets to cover his tax bill. After that, Mike had to fold up all the businesses. He lost his house, his cars, and stuff like that.Lessons learnedStay in your lane.Be humble, but not artificially modest.When investing in different sectors, ask yourself how each complements the other.Andrew’s takeawaysWhen you get your gains after selling a business, save that money in a reliable fund and take a year to think before rushing into another investment.Actionable adviceBefore starting a business, ask yourself if you’re at a mastery level in that space. If you’re not, it’s premature to take action. Only get into that business if you know the space inside and out.Mike’s recommended resourcesMike recommends checking out his ten best-performing articles available as PDFs on his website.No.1 goal for the next 12 monthsMike’s number one goal for the next 12 months is to be of extraordinary service to small businesses in the process of eradicating entrepreneur poverty.Parting words “I hope no one else needs to make the worst investment ever, but if you do, make it your best lesson ever.”Mike Michalowicz [spp-transcript] Connect with Mike MichalowiczLinkedInTwitterFacebookInstagramYouTubeWebsitePodcastBooksCoursesAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBest Business Book ClubBecome 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: John Talty is the senior sports editor and SEC Insider at Alabama Media Group. He is the Wall Street Journal best-selling author of The Leadership Secrets of Nick Saban: How Alabama’s Coach Became the Greatest Ever.STORY: John left New York to take a new job in Jackson, Mississippi. He didn’t do any research before he went and was miserable the moment he arrived.LEARNING: It’s OK to move on to the next thing if your decisions go wrong. Sometimes you have to move around a little to find the right spot. “Anytime you make a mistake, or you have a bad investment, learn from it. That’s the most important thing.”John Talty Guest profileJohn Talty is the senior sports editor and SEC Insider at Alabama Media Group. He is the Wall Street Journal best-selling author of The Leadership Secrets of Nick Saban: How Alabama’s Coach Became the Greatest Ever. His work has been featured on ESPN, Sports Illustrated, and CBS Sports, among other national outlets.Worst investment everWhen John was in his 20s, he worked in New York at a business publication and was doing well. An opportunity to take a job elsewhere came up, and he decided to take it without much thought. John broke up with the girl he was dating then, packed up his meager possessions in his little Honda Civic, and drove from New York City to Jackson, Mississippi.In Jackson, Mississippi, John didn’t know a single soul and hated every bit of living there. Two months into it, his boss called him into his office to find out how he was settling in. John was so miserable and ready to quit his job. He told his boss that if the next month would be as bad as the previous months, he’d leave Jackson.John’s biggest regret was moving into a new city without researching and thinking about the end game.Lessons learnedWhen you make a significant investment that doesn’t work out, it’s OK to cut ties and move on rather than trying to be a martyr and prove to everybody that you can make it work.Sometimes, you must move around a little to find the right spot.Tough times don’t last. Tough people do.Keep powering through the tough times.Andrew’s takeawaysIt’s OK to move on to the next thing if your decisions go wrong.Actionable adviceWhen making a decision, always think about the endgame. Do your research so you have an understanding of what you’re walking into. This will make it a little easier to navigate that challenge.John’s recommended resourcesPerennial Seller: The Art of Making and Marketing Work That LastsThe Obstacle Is the Way: The Timeless Art of Turning Trials into TriumphNo.1 goal for the next 12 monthsJohn’s number one goal for the next 12 months is to write another book. He also wants to give himself at least one moment every day to appreciate something about his life or what he’s doing.Parting words “I appreciate you having me on so. I enjoyed our conversation and hope people got something out of this.”John Talty [spp-transcript] Connect with John TaltyLinkedInTwitterWebsiteBookAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBest Business Book ClubBecome 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: Aaron Velky is an entrepreneur, author, high-performance coach, and speaker from Phoenix, Arizona.STORY: Aaron felt stuck as an entrepreneur and decided to find a quick-fix investment. He landed on forex trading, which seemed like exactly what he wanted. Aaron never took the time to learn about the trade and lost $56,465 in this venture.LEARNING: Think through an investment before you commit. Detach yourself from your emotions when investing. Don’t get involved with forex. “Speed doesn’t come from transaction rate. Speed comes from capital magnitude.”Aaron Velky Guest profileAaron Velky is an entrepreneur, author, high-performance coach, and speaker from Phoenix, Arizona.He’s the CEO of Money Club, a movement-in-a-business believing that while money matters, financial intelligence matters more. Money Club offers employers a meaningful way to retain their talent, deliver amazing company culture, and empower their people, taking their team through a series of workshops on personal finance and wealth building. One part motivating and high engagement workshops and one part financial tools, courses, app recommendations and action steps to better their financial future. Money Club also has an online community, courses and content to help those ready to invest and grow wealth.He’s a principle and a personal performance coach with The Quitter’s Club, an organization that helps men and women quit the life they thought would make them happy to build the one that will. They host online mastermind programs and retreats focused on personal development, providing a structure and formula for quitting what no longer serves you so you can build a life by design.He’s coached several hundred athletes and released his first book called Let Her Play that guides parents and coaches through a framework that creates better communication, more psychological safety, and increased physical performance on the field and in the classroom.Worst investment everAaron was researching various investment platforms looking for something new to do. He felt like he’d hit a plateau and was struggling with this identity under the success of the Money Club. He felt stuck, so he found himself in this inquisition mode, looking around for ways to go quickly.Aaron wanted something that would give him immediate success. He found forex trading, liked it, and started with a play account. He found a broker overseas, conversed with them, and immediately started working with them.Aaron sent a couple of dollars to his forex account. He’d have these moments where this couple of dollars turned into a couple more quickly. There would be days when Aaron would put $100, and then it would suddenly be $300. So he put in more money. At some point, he started playing with serious swings and making a couple of thousand dollars daily. Aaron was having a field day. At one point, he’d be up five grand. The next day, Aaron would be down four grand, then up six, down three, and so on. This up-and-down rollercoaster saw his emotional turbulence hit the roof, and he was very unstable during this period. The more money he made, the more he kept investing in the forex account.Then one day, Aaron’s winning was like 100 grand. He decided to stop here and pull out his winnings. Now he had a sizable account and was feeling good. The excitement made Aaron try one more trade. He did, and it tanked. Aaron was left with negative $12,000. Now he owed the trading company $12,000. On top of that, he’d already lost $56,465 in forex trading.Aaron decided to research the trading company and finally realized that the company had put him on a fake trading account because the entire company was a hoax. Luckily, he didn’t have to pay the $12,000.Lessons learnedDon’t be so hard on yourself when you lose. Learn from the experience.Research people better.Calculate your risks before you invest.Go slow and think through an investment before you commit.Andrew’s takeawaysDon’t get involved with forex.If you are obsessed with forex, get a job as a forex trader in a bank and gain experience, then trade on your own.Detach yourself from your emotions when investing.If you feel you’re on an emotional roller coaster of highs and lows, that’s gambling. It’s not investing, so get out of it.Actionable adviceGain financial literacy. Get educated, then invest. You’ll do way better if you follow that sequence.Aaron’s recommended resourcesIf you’re eager to grow and have the ambition to accelerate, Aaron recommends reading The War of Art: Break Through the Blocks and Win Your Inner Creative Battles.The Money Club has many high-class resources for people who want to get educated.No.1 goal for the next 12 monthsAaron’s number one goal for the next 12 months is to get incredibly good at pushing people past their comfort zones. He wants to help at least 150,000 people (over his lifetime) get to a point where they feel safe and stable.Parting words “Do as I say, not as I do.”Aaron Velky [spp-transcript] Connect with Aaron VelkyLinkedInInstagramFacebookWebsiteBookAndrew’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 ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBest Business Book ClubBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast