My Worst Investment Ever Podcast

BIO: Thanawit Ounsakul is a Petroleum Engineer with enthusiasm for business and the people behind it. He is a long-term investor who has been riding the financial wave since 2006 and blogs about his investment views.STORY: Thanawit came across a stock whose valuation seemed ok, and analysts said it would go up drastically. He bought it without further research only to make a 50% loss a year later. There was no hope of the stock rising because demand for the company’s commodity had shifted.LEARNING: Don’t depend on quantitative analysis only; use qualitative analysis too to value a company. Buy cyclical stocks when PE is expensive and sell when they’re cheap. “Find your investment style and try to turn it from good to great.”Thanawit Ounsakul Guest profileThanawit Ounsakul is a Petroleum Engineer with enthusiasm for business and the people behind it. He is a long-term investor who has been riding the financial wave since 2006 and blogs about his investment views.Worst investment everIn October 2011, Thanawit came across a commodity stock that went down to $40 from its all-time high of about $60. The valuation looked very cheap, with the price to earnings at less than 10x and debt to equity of less than one. Analysts were saying it would go to $80. Thanawit did some math and figured it would be an outstanding stock to buy. So he bought it at $30, then the price moved up to $45, and he just kept on buying on the way up.A few months later, in March 2012, the price started going down, and it got back to $30, the price he first had bought it at. Thanawit was confident and bought more positions expecting the stock to rebound. But the price kept going down.Thanawit decided to research what was going on with the company—which he should have done before buying the stock. He learned that the demand for that commodity had shifted. Basically, the sales kept dropping quarter after quarter. Because of loss aversion, Thanawit didn’t want to sell until November 2012, when he got extremely stressed about it. He spoke to one of his lecturers from university who pointed out that Thanawit’s investment was a sunk cost and advised him to look forward, not backward. So he sold his stock making about 50% loss.Lessons learnedBe aware of the value trap that makes you value a company depending on quantitative analysis only without including qualitative analysis as well.Don’t evaluate a company based on past earnings only; use future evaluation as well.Let go of the looser stock as soon as you can.Andrew’s takeawaysBe careful because investing is a physical activity, and many people go into it not realizing that, and then they lose control of their emotions.Just because someone’s an analyst doesn’t mean that they’re necessarily a great stock picker.Buy cyclical stocks when PE is expensive because that means they’re at the bottom of their earnings cycle, and then sell when they’re cheap.Actionable adviceTo adopt any principle or repeat a policy throughout your life, you must feel good about it. Find your style and try to turn it from good to great.No. 1 goal for the next 12 monthsThanawit’s number one goal for the next 12 months is to publish a well-written investment article as often as he can so that his followers can be at least one inch closer to the investment world.Parting words “Just enjoy investment.”Thanawit Ounsakul [spp-transcript] Connect with Thanawit OunsakulLinkedInFacebookTwitterBlogAndrew’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 mentionedJason Zweig (August 2007), Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich

BIO: Sakthivel Thevar is a highly sought-after international speaker and Maximum Performance coach within the business and corporate circles.STORY: Sakthivel was looking for a mentor when he first joined the corporate world. Without much thought into it, he went with the first guy who offered to mentor him. He didn’t gain much from the mentor even after working with him for months. The mentor was just not the right fit.LEARNING: Be clear about the kind of people you want to invest in. Take your time, don’t rush when finding a mentor. “Just as you don’t blindly invest in a house, look at the options available for you when picking a mentor.”Sakthivel Thevar Guest profileSakthivel Thevar is a highly sought-after international speaker and Maximum Performance coach within the business and corporate circles, starting his career in the most challenging way possible as a military officer and Airborne Ranger in the Singapore Armed Forces.Worst investment everWhen Sakthivel left the military, he decided to join the financial industry as an advisor. His goal was to make a difference to people. Because he didn’t know much about being an entrepreneur, Sakthivel decided to invest in a mentor. He went out and talked to several people. Then this guy came up to him and told him that he could be his mentor. Sakthivel didn’t think twice. He decided to work with him.Eight months later, Sakthivel’s business was tanking, and he could barely pay his bills. When he couldn’t afford to buy his daughter a book she wanted, he realized that he had made a wrong investment. He had invested his time and business with the wrong person because he didn’t do his due diligence to check other options. He chose a mentor blindly without first figuring out what to look for in a mentor. He just decided this guy was the one and just went for it.Lessons learnedWhen choosing a mentor, find out whether they’re in line with what you believe in.Be clear of who you want to invest your time in and if they’ll be able to bring you to where you want to be.Take your time, don’t rush when finding a mentor. Don’t be afraid to ask questions.Learn to say no to people who are not the right match for you.Andrew’s takeawaysTake the time to do the research, and the benefits will come.Time is the only real resource that we have. It allows us to do the things that we want to do. Use it well.Get the right boss. So many people get stuck in situations where they’re with the wrong people, and they stay out of convenience.Don’t walk away from what works.Actionable adviceBe clear about what you’re looking for when you’re thinking of investing your time in learning something, especially from someone. Be clear of the outcome or the things that you require from this person. Then ask yourself whether this person can bring you in that direction.No. 1 goal for the next 12 monthsSakthivel’s number one goal for the next 12 months is to get his new book out. He also gives talks, so his biggest goal is to reach out to as many people as possible.Parting words “Wake up every morning and ask yourself; ‘If I’m good at something, how can I go about doing it better?’”Sakthivel Thevar [spp-transcript] Connect with Sakthivel ThevarLinkedInFacebookYouTubeWebsitePodcastAndrew’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: JB The Wizard received his name from his clients when seemingly hard-to-explain breakthroughs were happening in business when he was simply focusing on the individual.STORY: JB was already a master of self-development and alignment, but he needed another skill to make more money. So for over 14 years, he learned all about online marketing. This was a poor time investment because now his clients pay him for his self-development and alignment skills, not online marketing skills.LEARNING: Be ready to say no to many things if you want to stay in alignment. Focus exclusively on your customer and their needs. “Alignment means tapping into your purpose for why you are here in the first place.”JB The Wizard Guest profileJB The Wizard received his name from his clients when seemingly hard-to-explain breakthroughs were happening in business when he was simply focusing on the individual. He has a degree in Pre-Medical Exercise Physiology, acted in Hollywood films, Television, and Theater, is an award-winning director, and now advises CEOs, Celebrities, and Top Salespeople on exactly what to focus on to ensure that every other personal and business dream, comes true.Worst investment everJB started his journey to self-development when he was a kid, and by the time he was an adult, he was an alignment expert. But still, there was always this desire to get more clients and make more money.He spent over 14 years studying everything he could about marketing. From online marketing to squeeze pages to landing pages and everything in between. JB believed these skills would make him more money than working with clients to help them find alignment.But with time, JB realized that what his clients were paying him more for was not his Facebook marketing skills or his squeeze pages, not any of that. It was happiness, mental freedom, the awareness that he has, and the alignment that he helped them find. So his worst investment ever was spending so much time trying to learn something else while he already had the skill clients were willing to pay for.Lessons learnedAlignment means tapping into your purpose for why you’re here in the first place.Be ready to say no to many things if you want to stay in alignment and keep things moving forward.When something is in your alignment, it doesn’t take discipline to do it; it’s just a behavior that comes naturally.Andrew’s takeawaysBy focusing exclusively on your customer, you discover their needs and wants, and then you can serve those.Part of alignment when it comes to attracting customers is making sure that you understand your clients’ needs and provide the services and support for those needs. Once you do that, there isn’t any better marketing than that.Actionable adviceYou already have the answer. You know who you are, and that’s what you want to take action towards.No. 1 goal for the next 12 monthsJB’s number one goal for the next 12 months is to increase the number of clients he works with from three to eight people per month.Parting words “You already have the answers.”JB The Wizard [spp-transcript] Connect with JB The WizardLinkedInTwitterFacebookBookWebsitePodcastAndrew’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: Joseph Frankie (Joe) is a West Point graduate who had a full multifunctional military career as a warfighter and logistician.STORY: Joe got into a deal in China that was quite lucrative. However, the financial crisis of 2008 hit and saw him lose everything he’d invested in the deal.LEARNING: Walk away from a cul-de-sac and get onto something else fast. Failure is not always your fault but how you react to it is your full responsibility. “Learn when to walk away and do it fast. The sooner you get on to something else, the better you’ll be.”Joseph Frankie Guest profileJoseph Frankie (Joe) is a West Point graduate who had a full multifunctional military career as a warfighter and logistician. Today, he helps leaders build a bridge from where they are now, to where they want to go. Most often, he helps 40+-year-olds figure out what is next. He assists leaders internationally, online.Worst investment everJoe’s worst investment ever was working on a deal in China. At the time, the Chinese government was trying to get their wastewater treatment infrastructure together. Chinese companies had to bid on this project, and those that made it to the final three had to put up a letter of credit for 33.3 percent. This meant that if any of the three got picked, they executed that letter of credit and were all in.The Chinese companies’ challenge was that they didn’t have the working capital necessary to run multiple projects. Even though they had the bandwidth and the capability, they ended up having to finish one project, get the return, and then get into another one. Whereas they really could be doing as many as five to 10 projects. This is where Joe came in. Through a cooperative joint venture with two companies, Joe provided the Chinese companies the capital necessary to do multiple ventures.Then the Lehman Brothers debacle following the financial crisis of 2008 happened. All of the rules on moving money internationally changed overnight. Funds were frozen, decisions took forever to be made, and Joe found himself in a cul-de-sac. He had no option but to walk away and count his losses.Lessons learnedWhen you realize it’s a cul-de-sac, just back out of it fast and get on to something else that’s productive, rather than spend any more time on it.Andrew’s takeawaysRandomness will always come, and you don’t have any control over that.There are factors in your life that just happen, and it’s not your fault. But the way you react to it is your responsibility.Sometimes you just have to walk away from something that’s not working because putting in more effort isn’t going to make any difference.Actionable adviceYou have to be attuned to the environment. You’re going to deal with volatility, uncertainty, and all of that kind of stuff. The sooner you recognize that you’re in that situation and make your quick assessments and determine what you want to do, the better off you’ll be.No. 1 goal for the next 12 monthsJoe’s number one goal for the next 12 months is to continue promoting his book LinkedIn: The 5-Minute Drill for Executive Networking Success.Parting words “Your LinkedIn profile is your billboard to the world. Don’t sell yourself short.”Joseph Frankie [spp-transcript] Connect with Joseph FrankieLinkedInTwitterFacebookBookWebsiteAndrew’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: Fred Diamond is the co-founder of the Institute for Excellence in Sales, a member organization for sales leaders and their teams.STORY: Fred had a friend in college who reached out to him three times requesting him to work for him over the years. Fred turned him down every single time. That friend ended up building a company that he sold three times over for five billion dollars.LEARNING: Be open to the opportunities that come your way. Work with people you like and trust and who trust you too. “If you want to start working for yourself, start now.”Fred Diamond Guest profileFred Diamond is the co-founder of the Institute for Excellence in Sales, a member organization for sales leaders and their teams. Members include Amazon, Salesforce, Red Hat Software, and Intel. He is also the host and producer of the award-winning Sales Game Changers Podcast and webcasts. Fred is based in Washington, D.C.Worst investment everTwo years after Fred graduated, he got a call from his college friend, Mark. He told him that he was starting a company and was inviting people to go to New York and talk about what kind of company they should start. Even though Fred was impressed with Mark in college, he didn’t consider him a serious entrepreneur, so he didn’t go for the meeting.About seven years later, Mark called Fred. At the time, Fred was working at Compaq computer while Mark sold direct marketing services. He asked Fred if he could get a meeting at Compaq to pitch his services. Fred got him a meeting with the guy in charge of direct marketing, and he did a great presentation. Afterward, Mark asked Fred to work for him and help him take his company to the next level. Fred still didn’t quite see his friend as a serious entrepreneur, so he said he wanted to stay at Compaq.Over the next couple of years, Fred moved to several companies, and eventually, he decided he wanted to work with pre-IPO startups. He happened to be in New Jersey on his way to Germany for some customer meetings and decided to have lunch with Mark. He told him of his desire to work with pre-IPO startups. Again, Mark asked Fred to work for him in D.C. He’d pay him $150,000 a year and give him 10,000 shares. Again, Fred turned Mark down because he didn’t think his company was what he thought a pre-IPO company looked like.Fred went on to work with two pre-IPO companies that folded in just a year. Eventually, he started his own company that has gone to be the success it is today. While Fred is successful today, he regrets missing the opportunity to work with Mark, who built a company that he sold three times over for five billion dollars.Lessons learnedLearn about people in your circles who seem to be successful.Find people you can trust and who trust you.You’ve got to see what the opportunities might be and then step in to take them.Work with people that you like.Andrew’s takeawaysWhen we’re in a situation, we see things differently than how we see them coming out of that situation.Now and then, things are going to seem glaringly obvious. But most of the time, it’s not going to be that clear and obvious.Be open to opportunities and grab those that are right in front of you.Actionable adviceIf you want to work for yourself, start sooner. If you’re committed, cut the bait, meet some brilliant people, be smart, hire someone, figure out where the cash flow will come from, and get the support of a spouse.No. 1 goal for the next 12 monthsFred’s number one goal for the next 12 months is to triple the sales of the Institute for Excellence.Parting words “Start today. There’s no better time than today. Get out there and make something happen.”Fred Diamond [spp-transcript] Connect with Fred DiamondLinkedInTwitterFacebookWebsitePodcastAndrew’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: Jeff Bullas is the owner of jeffbullas.com. Forbes calls him a top influencer of Chief Marketing Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on Twitter.STORY: Jeff bought a mattress and bedding furniture store, an area he had no experience or passion in. He did no research or did any due diligence, and within no time, he was deep in debt and had to close the store. He lost everything, including his marriage and the family home.LEARNING: Don’t start a business unless you have expertise and passion in that industry. Running a business is not all about the money. “Just start. Create and share your craft, and then the world will show up.”Jeff Bullas Guest profileJeff Bullas is the owner of jeffbullas.com. Forbes calls him a top influencer of Chief Marketing Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on Twitter.Worst investment everJeff once bought a mattress and bedding furniture store on a whim. He had zero experience in running a retail business. He did zero research and due diligence. He was just thinking of the money he would make from the business.Within a day or two of buying the store, Jeff realized he’d made the wrong decision. Instead of making money, the business was chewing up cash for months on end. Jeff’s bank balance was getting lower and lower. He decided to pivot to another location to get a long-term lease.Jeff hated running this business. He was in the store seven days a week. He felt trapped. Eventually, he got to a point where he realized that he needed to pull the pin. Jeff closed the doors one day and walked away.This failure caused Jeff’s marriage to break. He was too deep in debt that the bank took possession of the family home, and he was left with nothing.Lessons learnedWhen starting a business, don’t do it just for the money. Start a business that you’re uniquely qualified to run. Ask yourself if you have the curiosity, passion, and expertise to do it. If not, don’t do it.Just start. Create and share your craft, and then the world will show up.Entrepreneurship is not just about chasing the money; it’s also about tapping into why you’re here and why you’re doing it.Andrew’s takeawaysMost people fail to do their research when starting a business. They see an opportunity, get seduced by it, and end up putting aside their normal rationality because they’re excited about it.Money is an outcome of your passion.Failure can shake not only your confidence but the confidence of the people around you. But, don’t forget that failure is inevitable and when it happens, just walk away.Actionable adviceDon’t force it. We live in a perfect world, but it doesn’t always unfold in the way we want. When you try to force it, generally, bad things happen.No. 1 goal for the next 12 monthsJeff’s number one goal for the next 12 months is to launch a new product and have some fun doing it.Parting words “Just start and learn. Don’t try to be a perfectionist.”Jeff Bullas [spp-transcript] Connect with Jeff BullasLinkedInTwitterFacebookYouTubeWebsitePodcastAndrew’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: Brennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions.STORY: Brennan got offered a full-time junior software development job at Shopify after completing his internship, but he turned it down so that he could go back to complete his degree. The job came with stock options that would be worth an eight-figure today. He never got to use his degree.LEARNING: Seek help from the right people when making decisions. Ask yourself if your decision is permanent or nonpermanent. “When you’re making a decision, ask yourself if it can easily be undone or it’s permanent.”Brennan Spellacy Guest profileBrennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions. Prior to starting Patch, Brennan worked in a range of product and engineering roles at Sonder and Shopify.Worst investment everBrennan got offered a full-time junior software development job at Shopify after completing his internship. He still had two years of university remaining, so he turned the job down to go back to school.What Brennan regrets most is missing out on the stock options that came with the job. These options would be worth an eight-figure today. And the sad part is that Brennan never really used his degree.Lessons learnedUnderstand asymmetric risk and asymmetric upside so that you can make an objective decision.Understanding your value system will help you make sure you’re optimizing for that when making a decision.Weigh both permanent and nonpermanent decisions.Andrew’s takeawaysDon’t beat yourself up too much because you’re not a multimillionaire. When it comes to recognizing opportunities, sometimes you only get more clarity as you grow older.Money is just one aspect of decision-making.Make sure your decision-making process is good. Take your time and talk to the right people.Actionable adviceif you’re at some crossroads, get robust data on both sides before you make your decision.No. 1 goal for the next 12 monthsBrennan’s number one goal for the next 12 months is to grow Patch to about 35 or 40 employees.Parting words “Sometimes, you got to just shoot your shot and leave it all out there.”Brennan Spellacy [spp-transcript] Connect with Brennan SpellacyLinkedInTwitterBlogAndrew’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: Emmanuel Michael, a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries.STORY: Emmanuel started a locks business that saw him lose over $30,000. His biggest problem was not testing the market before buying the locks.LEARNING: Test your market first before you launch your product. Always think about how you’re going to get customers. “Find your customers first before you even have your product.”Emmanuel Michael Guest profileEmmanuel Michael (EM), a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries such as multidisciplinary engineering, information technology, hospitality, and financial services, of which over 17 years have been in human resources management practice.Between March and August 2017, he held forth as the Interim CEO & Head of HR at Letshego MFB, a national microfinance bank in Nigeria. He is currently the Head of Human Capital at Letshego Nigeria.Emmanuel is also the Founder & Host of HR with EM–a platform to Connect, Learn, and Share on everything leadership, career development, and employee experience. He is fondly called “The HR Celebrity” by the Nigerian HR community.Worst investment everEmmanuel always wanted to be an entrepreneur. After he had saved enough money, he decided to start a locks business. He immediately ordered some locks and started looking for office space. Once he got a space, he started looking for a market.To market his locks, Emmanuel decided to visit car companies to see if they would buy them and install them in their cars, such that when customers come to buy the vehicles, they would sell the locks as part of the accessories. This didn’t work out too well for him. Next, he decided to hire salespeople. They didn’t bring him much business either.Emmanuel was not able to generate enough revenue even to pay back the first year’s ends rent. He continued until the end of the second year. Teams were getting worse instead of getting better. At this point, Emmanuel had spent about $30,000 on the business and was yet to make any profits. When his rent expired after the second year and the landlord came to ask him to either renew the rent or move out, Emmanuel knew it was time to close shop and count his losses.Lessons learnedBefore you start selling, first research the market to ensure that customers want to buy your product.Talk to the right people as you research your market.Find your customers first before you even have your product.Failures can propel you to your next successful business venture.Andrew’s takeawaysWhen you’re doing marketing, you must test the market. You must also think about your marketing channel. Figure out how you’re going to get to the customer, and once you get to the customer, think about how you’ll convince that customer that this is right for them.Actionable adviceBefore you start any business, do a market test. Get a small group and offer them your service or product and see how they receive it. Tweak it and test it until it’s ready for launch.No. 1 goal for the next 12 monthsEmmanuel’s number one goal for the next 12 months is to have at least coached over 1,000 leaders, career trainers, or job seekers.Parting words “Keep hope alive, don’t give up. It might look rough now, but it will get better tomorrow.”Emmanuel Michael [spp-transcript] Connect with Emmanuel MichaelLinkedInTwitterFacebookYouTubeWebsitePodcastAndrew’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: Marvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant in the Philippines.STORY: Marvin was enticed to buy his first stock by his colleague who was having good luck with his. Marvin’s luck, however, wasn’t as good. The stock price went down significantly as soon as he invested causing him to lose all his money.LEARNING: Focus on your own way of investing; don’t depend on other people’s gains. Wealth is built over time, not overnight. “Don’t focus on making money in the next eight minutes. Focus on the next eight years.”Marvin Germo Guest profileMarvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant who is among the most passionate personal finance experts in the Philippines.Worst investment everWhen Marvin was starting in the stock market, a colleague told him about a stock he was confident would do well. He, however, took his time and didn’t invest immediately. At the time, the stock was selling at 12 pesos and went to 15 in a couple of days, and then it went to 24. Marvin’s colleague doubled his money. He even borrowed from friends to invest more. Then the stock went to 32 pesos and then fell to 25.Marvin was impressed by his colleague’s conviction because he never stopped investing even when the stock price started to fall. Now he was interested in buying the stock too. His colleague convinced him that it was an excellent time to buy, and he remained optimistic that it would go to 50 pesos. Marvin bought the stock. Then two months later, the stock crashed to 17 pesos. He panicked, but his colleague told him to buy more so that he would break even when the stock goes back up. So he bought more stocks. The price never went up. Marvin sold half his stock at 16 pesos and the other half at 13 pesos.Lessons learnedYou build wealth over time.Don’t wait until you have a lot of money to start investing. Start with whatever you have right now.Take as much risk as possible while you’re young.When you’re investing, focus on your own race, you don’t have to compare your gains with other people’s. You have different starting points, different capital, different risk tolerances, and different timelines.Before buying anything, understand what it is, how much you should put in, and how to exit properly.Andrew’s takeawaysMost people struggle to be an entrepreneur because of the many things they have to deal with.Create, grow and protect your wealth.Most of the time, people are winning in the stock market through luck, not through skill, and therefore, when luck turns, they get hurt.Your business doesn’t always need debt to be valuable.Find something that you know that you can excel in and try to double down on that.Actionable adviceStart investing now and take your time to build wealth. It’s not a sprint; it’s a marathon.No. 1 goal for the next 12 monthsMarvin’s number one goal for the next 12 months is to understand the cryptocurrency space deeply.Parting words “Keep on investing and pushing forward.”Marvin Germo [spp-transcript] Connect with Marvin GermoLinkedInTwitterFacebookYouTubeWebsiteBooksAndrew’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: Jimmy Lee is a Venture Builder and Humanitarian.STORY: Jimmy and his partner got into a partnership with two other businesses for a huge project that would bring them big returns. One of the businesses wanted Jimmy to collude with them and kick the third company out of the project. He refused and got cut out of the project, losing everything he had invested in it.LEARNING: Get your downpayment at the start of the project. When you receive help, pay it forward. “If you have a firm belief in yourself, and you know what you want to do, you should go for it. Things will come into place eventually.”Jimmy Lee Guest profileJimmy Lee is a Venture Builder and Humanitarian. Believe in yourself, and you can make the impossible possible!Worst investment everJimmy was introduced to entrepreneurship by chance by a friend. He went into it without experience, capital, or contacts—just a law degree and an idea. His first startup was a creative agency doing motion videos. Within four years, he grew the business into a multi-million business.The year 2007 was a very great year for Jimmy and his business partner because they got two huge projects. They were engaged as a contractor for the celebration of the 50th anniversary of Malaysia. Their job was to project the first prime minister in a hologram.The following year, everything fell apart. Jimmy’s company got into a partnership with two other companies. Jimmy got called for a secret meeting with one of the companies and was told not to inform the other company. He went for the meeting with his partner out of curiosity. The value of the project was about 4.5 million Malaysian ringgit. The other company wanted to sideline the third company and divide the profit between their company and Jimmy’s.Jimmy and his partner said no to that idea because it was unethical. A week later, Jimmy’s company got terminated from the project. All the payments he was supposed to receive had been pending due diligence, and now he couldn’t get paid. He lost everything overnight. They had focused on that one huge project for the past few months, and many resources went to it.Lessons learnedDon’t give up even when you face failure and other hurdles.Get your downpayment money at the onset of the project.Andrew’s takeawaysPeople do help people sometimes out of the blue.Once somebody has helped you out of the blue, you have an obligation to pay that forward.Actionable adviceContinue exploring opportunities and learn from your failures and be better. From that, you can do something even bigger.No. 1 goal for the next 12 monthsJimmy’s number one goal for the next 12 months is to set up a venture fund in Singapore. The venture will fund projects focused entirely on food, technology, and social enterprise.Parting words “Do things that are out of the box. Don’t be afraid because sometimes it’s just internal fear. So be bold and mighty force will come to your aid.”Jimmy Lee [spp-transcript] Connect with Jimmy LeeLinkedInTwitterWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast