My Worst Investment Ever Podcast

BIO: Chatchai Unrasmeewong is a financial advisor at FINLAB, a financial advisor group that helps clients reach their financial goals.STORY: Being a board game enthusiast, Chatchai decided to partner with a friend and open a board game cafe when he was in university. His target was students at local universities, so he picked a location next to one of the universities. The cafe did well but after one month schools went for a 3-month holiday break and the business could not withstand such a long break.LEARNING: Always sign a shareholder’s agreement when getting into a business partnership. Research your market thoroughly before launching your business. “Spend enough time studying the market if you want to run a successful business.”Chatchai Unrasmeewong Guest profileChatchai Unrasmeewong is a financial advisor at FINLAB, a financial advisor group that helps clients reach their financial goals.He has a bachelor’s degree in finance from Thailand’s Kasetsart University. For two years after graduation, he worked as an assistant to the president of a private company. Then he pivoted to pursue his dream job of being a flight attendant. At that time, he also started his first business, which was a board game cafe.His passion is to apply his experience from past careers, knowledge, and abilities to advise people to understand their finances of life and achieve their financial goals.Worst investment everChatchai has always been very passionate about board games, and when he was in university, he decided to make money out of this hobby. He approached a good friend and asked him to partner with him and open a board game cafe. Chatchai borrowed about $2,000 from his mom to fund the partnership.Chatchai did some market research for a month and found a location near a university that he felt would be perfect for the cafe because he wanted to target students. The first month of business was great, and the students loved the cafe. Schools were then closed for three months, and it was a struggle. When schools reopened, Chatchai had to market the cafe all over again, and it was a struggle for him to keep the business afloat. His business partner had gotten a full-time job, so he wasn’t helping much.After a few months, Chatchai’s business partner suggested closing the business because they were making losses. Chatchai agreed, albeit reluctantly.Lessons learnedDo thorough market research to understand the market first before you launch your business.Have a shareholder’s agreement, especially when partnering with friends.Andrew’s takeawaysThere’s nothing wrong with writing down a shareholder’s agreement between partners and agreeing upon what to do should something happen to one of the partners, as well as your plan for your shares.When opening a retail business, choose your location wisely because it could make or break your business.Actionable adviceBefore you make any investment, you need to spend enough time studying the market because you won’t run a successful business without that knowledge.No. 1 goal for the next 12 monthsChatchai’s number one goal for the next 12 months is to use his knowledge to educate and encourage other entrepreneurs.Parting words “Learn from our worst investment mistakes, and you’re going to be better.”Chatchai Unrasmeewong [spp-transcript] Connect with Chatchai UnrasmeewongLinkedInFacebookAndrew’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: James Neilson-Watt is the CEO of Patients & Profit, which teaches health professionals how to run successful businesses to create more impact.STORY: James suffered from chronic panic and anxiety attacks, and for years he allowed this to hold his life back. Eventually, he decided to face his fears head-on and has been on a journey of healing since.LEARNING: Learn from people’s mistakes. Find good mentors to guide you. “Things that you have no control over will always happen. But suffering is optional.”James Neilson-Watt Guest profileJames Neilson-Watt is the CEO of Patients & Profit, which teaches health professionals how to run successful businesses, so they create more impact.James is also the author of “Healthcare Business Secrets-A step by step guide to growing a wildly successful healthcare business.” He is a health Professional himself, having practiced in and run his own healthcare business for a number of years before transitioning into the coaching space.James has been featured in Yahoo Finance, LA Weekly, NY Weekly, and other publications and has worked with hundreds of healthcare business owners in over 15 countries, helping them increase their revenue by over $20,000,000 per year collectively and helping 10’s of thousands of patients in the process.Worst investment everJames suffered from chronic panic and anxiety attacks for over 20 years. He would experience crippling terror that held him back from living life to the fullest.It wasn’t until James let go and decided to face his fears that he could wade his way out of it. It hasn’t been an easy journey, but he did it.Lessons learnedThe only way to get from where you are to where you want to be is to find people who have done it and learn from their mistakes.Find good mentors that can guide you and learn from them.Actionable adviceIf you’re feeling depressed, take time to be curious and think what a non-depressed version of you would want to be. What decisions would you make? What beliefs would you hold? Think more about that to bring positivity to your life.No. 1 goal for the next 12 monthsJames’s number one goal for the next 12 months is to triple our client volume in our businessParting words “You have more control than you think you do. We all can achieve more, but it’s our choice as to whether we will. So go and be resourceful.”James Neilson-Watt [spp-transcript] Connect with James Neilson-WattLinkedInFacebookYouTubePodcastBookAndrew’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: Tim Hyde is a fixer, a business growth strategist, an Infusionsoft Certified Partner, and is Australia’s leading authority in sales and marketing automation for small businesses.STORY: Tim regrets spending years trying to live up to what he thought were other people’s expectations of him instead of living the kind of life he wanted.LEARNING: Stop trying to conform to other people’s expectations. People don’t think of you as much as you think they do. “Who is the person you really want to be, and are you being true to that or just being who you think people want you to be?”Tim Hyde Guest profileTim Hyde is a fixer, a business growth strategist, an Infusionsoft Certified Partner, and is Australia’s leading authority in sales and marketing automation for small businesses.He works with business owners on their sales and marketing strategy, with a particular focus on optimizing their sales lifecycle and marketing automation.He provides the advice, support, and tools his clients need so that their business gives them more time, money, and freedom.Worst investment everTim spent a lot of his teenage years building sales enterprises and other side businesses. However, he still went down the familial path of expectation that when he finished college, he’d go to university and then get himself a job.No matter how much Tim succeeded with his enterprises, he kept falling back to this expectation of who he should be, rather than being true to himself. He believes his worst investment ever is the years he spent at university trying to meet the expectations he thought other people had of him.Lessons learnedStop trying to conform to other people’s expectations because you end up losing opportunities to explore and express who you are and the impact you have. Do what feels right to you, not what you think other people want you to do, and you’ll be happier.Andrew’s takeawaysIf you want to get something, you have to take a risk. You won’t go far if you stay in your safety net.We imagine all kinds of things of what other people think of us, and the reality is that that’s all in our mind because people are thinking a lot less of us than we think they are.Actionable adviceWhen you look at yourself in the mirror every single morning, ask yourself who is the person you really want to be and if you’re true to that. Then ask yourself if those are your expectations of yourself or your perceptions of what you think other people expect from you. Secondly, look at how you project your expectations on others and ask yourself if it’s your expectation of what you want for them or you’re enabling them to be the best that they can be.No. 1 goal for the next 12 monthsTim’s number one goal for the next 12 months is to enable other people to be their best now through his business and help people build more resilient and effective businesses.Parting words “Take advantage of the resources around you to live your best life and leave a legacy.”Tim Hyde [spp-transcript] Connect with Tim HydeLinkedInTwitterWebsiteAndrew’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: Jenny Wilde has over 15 years of hands-on experience as a senior manager in humanitarian response and an innovation expert.STORY: Jenny saw the need to set up an Innovation Fund to support innovative ideas to make their emergency response easier and more effective. Unfortunately, company politics took over, and the fund was scrapped off.LEARNING: Embrace complexity when dealing with innovation. “Different problems in different innovations require different tools and methodologies.”Jenny Wilde Guest profileJenny Wilde has over 15 years of hands-on experience as a senior manager in humanitarian response and an innovation expert. She has supported innovative organizations and initiatives in countries as diverse as the USA, South Sudan, and Nepal. She has pioneered initiatives that break from conventional innovation models and enable global scale.Worst investment everJenny was the operational director of emergency response in the Philippines, responding to a large typhoon, Typhoon Haiyan, that had ripped through the country’s center. Everyone was trying to make decisions and get stuff out of the door without a lot of deeper thinking. Jenny thought that her organization needed an innovation fund that would help bring to light any innovative ideas that would make their work easier. So they got the money and a team together and set up the fund.Within no time, the fund got political, with everyone wanting to take credit for the idea while, in reality, doing nothing. It was stressful for Jenny because she was heavily invested in the idea. Essentially the Innovation Fund got scrapped because of politics.Lessons learnedYou’ve got to simplify the problem. Make it as simple as possible, and then work with it.When you’re innovating around complex problems, you need to step back and take in all that complexity to do transformational shifts.Andrew’s takeawaysEmbrace complexity because there will be problems that you need to solve that are very complex.Think about the balance between the long term versus the short term. Which one works best for your current environment?Your idea should fit the company’s culture; otherwise, people will only shoot it down.Actionable adviceIf you want to go big and create something that’s really transformational, you should be using systems innovation and the tools associated with that. Don’t harm yourself with small ideas and small innovation traps.No. 1 goal for the next 12 monthsJenny’s number one goal for the next 12 months is to help people create big shifts in their industries.Parting words “Thanks, and good luck on the next investment.”Jenny Wilde [spp-transcript] Connect with Jenny WildeLinkedInTwitterWebsiteAndrew’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: Chris Franzen has been a hotelier for over two decades, having worked in the US, Europe, Middle East, and Asia.STORY: Chris saw an advert during the football World Cup a few years ago for a company he was unfamiliar with. He was intrigued by this unknown company that could afford to advertise in the World Cup. He did a bit of research and decided to invest in it. The stock went up for a few days but later plummeted to a point the company folded, and Chris lost his entire investment.LEARNING: Invest in industries you’re familiar with. Do thorough research before you invest. “When picking stocks, pick those in industries that you understand well.”Chris Franzen Guest profileChris Franzen has been a hotelier for over two decades, having worked in the US, Europe, Middle East, and Asia. He learned his trade from the ground up as a chef before rising through the ranks and being appointed Area Vice President with Hyatt Hotels. In July 2021, Chris opened his own company, advising operators and owners in the field of luxury hospitality.Worst investment everChris was watching the football World Cup a couple of years ago when he noticed this unfamiliar energy company whose ads would keep popping up every now and then. Seeing as the unknown company was paying millions to advertise at such a high-level stage, Chris imagined that it must be a reliable company.So after a few days, he decided to do some basic investigation and found out it was a Chinese green energy company dealing with solar panels. It was one of the biggest solar panel producers and had unsigned contracts in the pipeline all over Asia. Chris thought this must be an excellent investment, especially because the stock was marked as undervalued. He went ahead and bought stocks worth several thousands of dollars.About two, three days later, the stock rose, and it was a fantastic investment. After that, Chris didn’t pay much attention for the next few weeks. Suddenly, the stock plummeted day after day. Chris is not a panic seller, so he held onto the stock and waited for it to recover. But unfortunately, for this stock, it kept going down and never recovered. In fact, after about nine months from the day he bought the stock, the company ceased to exist, and he lost all the money he had invested. This remains his worst investment ever.Lessons learnedYou have to scrutinize what you invest in thoroughly. What security do you have if the company defaults?Do thorough research of companies that you want to invest in more so if they are new.Andrew’s takeawaysJust because a company can afford to be out there doesn’t mean anything. Big companies can fail, and sometimes they can fail fast.If you invest in the overall stock market, it’s going to go down at times, but it’s going to recover. But with individual stocks, some of them can go down and never recover.Actionable adviceInvest only in companies that are in industries that you understand really well.No. 1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to ensure his new company gets a decent foothold and build a good reputation. He also hopes that COVID will finally be over sooner or later so people can go back to traveling and enjoying themselves. [spp-transcript] Connect with Chris FranzenLinkedInBlogWebsiteAndrew’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: Daniel Chan is a pre-IPO PayPal financial operations employee who became a magician, and now he’s pivoted to Zoom. He has performed over 390 virtual shows since last year.STORY: As one of the first employees of PayPal, Daniel was granted about 10,000 stock options. When he left the company, he dumped his stocks for a more diversified portfolio. Daniel would have been worth close to $5 million if he had kept everything, but he bought many other things that didn’t earn him that much.LEARNING: Invest in things that you buy and use regularly. Diversifying doesn’t mean selling what you have; it means putting additional money into something else. “Learn how to read the income statement, understand profit and loss, debt-to-equity ratios, and P/E ratios.”Daniel Chan Guest profileDaniel Chan is a pre-IPO PayPal financial operations employee who became a magician, and now he’s pivoted to Zoom. He has performed over 390 virtual shows since last year. What’s cool is that he has invested in most of the companies that have hired him.Daniel’s clients are literally a who’s who from “A” to “Z.” He has performed for Apple and Airbnb all the way to Zillo. And Google has hired him over 40 times.Worst investment everWhen Daniel was working at PayPal, he was granted about 10,000 stock options with a four-year vest and had to stay at least a year. He stayed for over a year. However, when he left, he pretty much dumped his stocks for a more diversified portfolio.From Daniel’s calculation, he would have been worth close to $5 million if he had kept everything, but he bought many other things that didn’t earn him that much.Lessons learnedDiversify, and when you’re sure about particular stocks, put in a little more into those.Invest in things that you buy and use regularly.Don’t put all your eggs in one basket.Andrew’s takeawaysDiversifying doesn’t mean selling what you have; it means putting additional money into something else.Just because you use a product and believe in the company’s stock doesn’t mean you should put all your money into it. Make sure you diversify.Actionable adviceWhen looking for stocks to invest in, look at things around you that you’re familiar with. Then when you find a few companies that interest you look at the bottom line. Learn how to read the income statement, understand profit and loss, debt-to-equity ratios, and P/E ratios.No. 1 goal for the next 12 monthsDaniel’s number one goal for the next 12 months is to find investors for a magic dinner show and a club in Silicon Valley. [spp-transcript] Connect with Daniel ChanLinkedInFacebookYoutubeTwitterBlogWebsiteAndrew’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: Jacob Roig specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there.STORY: Jacob sold his business and invested in single-family homes. This turned out well for him, but he got convinced to invest in apartment buildings at some point. Jacob didn’t have the time to manage the apartments, and so when the 2008 real estate crash happened, he lost everything, including his over $2 million net worth, and had to file for bankruptcy.LEARNING: Own up to your challenges and seek the help that you need. You don’t need to have a solution; you just need to be willing to try to get back on your feet. “It seems easier not to take a step, but it is so much more painful to stay where you’re at.”Jacob Roig Guest profileJacob Roig specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there.Jacob is a certified business coach, certified firewalk instructor and besides coaching leaders, runs live events that routinely do the impossible, like getting you to walk over broken glass and burning coals. He’s mastered overcoming fears and limitations all of his life.Jacob knows how to face life and business challenges and now teaches and coaches others along the way.Worst investment everJacob decided to become an entrepreneur after working a corporate job for 12 years. In his first 10 months in business, he did $1.2 million in sales. Along the way, he had to learn how to manage projects as well as people. That led him to fulfill his five-year goal in the first year.Being a creative and a driven person, after three years in that business, Jacob was ready to do something different. He sold the business and invested in real estate. He bought single-family homes, and they were working well.One day he went to a seminar and was convinced to buy apartment buildings. One thing he overlooked was how much work he had to put in to manage the apartments. Jacob didn’t have the time to do what was required, so he got into a situation which he ignored and just hoped that the problem would go away without him doing anything.In 2008, the real estate crash happened, and Jacob’s problems with the apartments just got worse. In 2009, he had to file for bankruptcy and lost everything, including his $2 million net worth.Lessons learnedYou may lose your wealth, but you can never lose your knowledge and your ability to get back on your feet as long as you’re willing to try.You don’t have to know what exactly to do; you just need to be willing to try and then take one step.Do what it takes to get the help you need. Holding back will not do you any good.Andrew’s takeawaysYou can’t neglect your way out of the problem; it doesn’t go away if you don’t deal with it.When you’re going through problems and challenges, you have two choices; to face it now or put it off and face it later. If you put it off for later, it will eventually come, so face it now.Actionable adviceIt seems easier not to take a step, but it is so much more painful to stay where you’re at. Any action or step that you take and just the fact that you’re taking this step is a good start.No. 1 goal for the next 12 monthsJacob’s number one goal for the next 12 months is to scale his third seven-figure business.Parting words “Don’t let go of your dream; pursue it and seek the help that you require.”Jacob Roig [spp-transcript] Connect with Jacob RoigLinkedInFacebookYoutubeWebsiteAndrew’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: Axel Meierhoefer was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession.STORY: Axel blindly invested in penny stocks in the late 90s. He knew nothing about penny stocks at the time, and he ended up losing $75,000 after the market fell suddenly.LEARNING: Never get involved in anything that you don’t understand. Understand how company P/E ratios work and how they affect a stock. “If it’s initially interesting, I’ll first go into research until I’m satisfied I understand it well enough to commit money to it.”Axel Meierhoefer Guest profileAxel Meierhoefer was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession. Now, experiencing financial freedom, he wants to share his secrets and life lessons with us. You can find him on his Ideal Wealth Grower YouTube Channel.Worst investment everIn the late 90s, Axel was appointed the program manager for this new German Flight Training Center in the US. While at the center, the media kept constantly drumming on how necessary it was for everybody to be in the stock market. It was going on and on about the Dot-com boom that would change everything.At the time, neither Axel nor most other people he was with had any idea what a blue-chip stock or a penny stock was. But one thing that was the real fascination, initially for him, was that it didn’t take a rich person to start participating because the penny stocks were relatively cheap, well below $1 apiece. So you could buy like several thousand without investing a substantial amount. He figured if it’s not a considerable number, it won’t make a difference, so he bought a bunch of stocks.In just a few months, the stocks gained, and some of Axel’s friends cashed in their stocks, but he decided to hold onto his stocks. Unfortunately, the stock’s value plummeted as fast as it had gained. Axel ended up losing $75,000.Lessons learnedDon’t get involved in anything that you don’t understand.Learn how to differentiate between companies with reasonable valuation ratios and those that are just hype.Andrew’s takeawaysYou can never know the future, but you can know the present if you do your research well. If you know where you are, it can help you think about what you want to do.Actionable adviceDon’t be greedy. If you have been lucky enough to follow your principles and follow your purpose, and things have worked out well, there is nothing wrong with taking something off the table and putting it into something that still has all this potential ahead of it.No. 1 goal for the next 12 monthsAxel’s number one goal for the next 12 months is to grow his real estate property portfolio by another two or three properties.Parting words “Anybody can be an investor.”Axel Meierhoefer [spp-transcript] Connect with Axel MeierhoeferLinkedInFacebookYoutubeTwitterBlogFree bookAndrew’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: Andre Hsu is a thinker and business strategist based in Singapore. He is the author of three books about qualities, mindsets, and frameworks relevant to business, which he observed in several business tycoons who left a deep and lasting impact on his life.STORY: Andre partnered with a software company with an excellent business idea, but the partners were poor in managing the company and selling the product, so it failed. Andre lost his entire investment.LEARNING: Research the people who own a business as much as you research the business. “No matter how great the idea is, you’ll not succeed if you cannot trust your partner.”Andre Hsu Guest profileAndre Hsu is a thinker and business strategist based in Singapore. He started his entrepreneurial journey at 17, working on a real estate project while juggling three academic degrees completed concurrently in Australia.He is the author of three books about qualities, mindsets, and frameworks that are relevant for business which he observed in several business tycoons who left a deep and lasting impact on his life.Andre likes to use multiple techniques to read, predict people, assess situations, and formulate strategies that are suitable for properties and negotiations, deal structuring related to the assets.He likes to educate, share knowledge, insights, and reasoning of strategies to business associates who then proceed to implement them. He looks forward to doing this with people who share similar values and visions.Worst investment everAfter finishing university, Andre went into the family business, and after a while, he decided to venture into his own business pursuits. He got involved in a small software company that was dealing with Point-of-Service systems.At the time, this was a very lucrative business because not many companies were using POS systems. Andre was, therefore, happy to partner with the company and invest in this venture.The mistake Andre made was investing in people who didn’t take the business part of the venture seriously. They only created a good product, but they never invested in sales or management, so the product never really took off.Lessons learnedYou need to research the people who own a business as much as you research the business.Andrew’s takeawaysWhen investing in a startup, you need to look for trust, a good idea, the ability to execute the idea, and capital.Actionable adviceIf you cannot trust the person you want to partner with, forget the idea. No matter how great the idea is, you’ll not succeed if you cannot trust your partner.No. 1 goal for the next 12 monthsAndre Hsu’s number one goal for the next 12 months is to step back from the business and have his partners run it to have more time to do strategic thinking and come up with new ideas. [spp-transcript] Connect with Andre HsuLinkedInBookAndrew’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: Manish Kumar Tyagi used to be a Commander in the Indian Navy before he decided to become a standup comic sometime in 2014 and goes by the name “The Knotty Commander.”STORY: Manish relied upon his investment agent to invest his money. The agent invested in several options that lost him money over and over.LEARNING: Don’t blindly trust anybody with your money. Don’t rely on one investment agent. “Don’t be a blind investor; read a little about investing.”Manish Kumar Tyagi Guest profileManish Kumar Tyagi used to be a Commander in the Indian Navy before he decided to become a standup comic sometime in 2014 and goes by the name “The Knotty Commander.” An Officer and a Gentleman, he has some very funny tales to tell from his life experience. His style is full of unprecedented stories blended with wit and humor. His Facebook page and YouTube channel have over a quarter-million followers, with multiple videos having over 3 million organic viewers. He has performed across multiple cities in India and overseas. As a Motivational Speaker, he has also spoken at Josh Talks, 14 TEDx conclaves and is also a regular with corporate assignments.Worst investment everWhen Manish quit the army in 2012, he got his retirement benefits and invested in real estate. The market took a downturn, and Manish lost about 25% of his investment. He took what remained and invested it in a mutual fund, and it was doing well until the pandemic hit in 2020. One morning, Manish learned that Franklin Templeton had frozen six of their funds, and he had quite a substantial amount there. He spoke to his agent, who assured him that everything was going to bounce back. He told him that he would reshuffle his portfolio, but Manish wanted a long-term plan because he had money in another fund he didn’t want to lose.Manish asked to have his money back and kept it in the bank. In the process, he lost 15% of his investment, but at this point, all he wanted was to see his money in the bank. A friend then advised him to buy gold which he did. Then he purchased gold bonds to diversify his portfolio. The price of gold went down 30%.Manish’s greatest regret is leaving his money at the hands of his agent and taking blind advice from friends. He never took the time to understand the investments his agent was putting his money in.Lessons learnedDon’t blindly trust anybody with your money. You need to keep reading up about whatever you invest your money in.Don’t put all your eggs in the same basket. When engaging an investment agent, always get a second opinion.Andrew’s takeawaysAlways know that there’s a lot of volatility in the stock market.Our emotions are really against us when it comes to the stock market.There are many investment instruments today where an amateur who knows nothing and doesn’t want to spend all their time doing the market research can invest in.Actionable adviceDon’t be a blind investor; read a little about it, speak to people, and keep checking on your investments from time to time and see how the market is doing.No. 1 goal for the next 12 monthsManish’s number one goal for the next 12 months is to consolidate his investments and wait for the opportunity to re-enter the market.Parting words “At this point in time, stay low. Stay safe.”Manish Kumar Tyagi [spp-transcript] Connect with Manish Kumar TyagiLinkedInFacebookYoutubeTwitterAndrew’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