My Worst Investment Ever Podcast

BIO: Business growth online mentor and coach Kassy Pajarillo-Braganza helps coaches, consultants, trainers, private practitioners, and service-driven entrepreneurs claim their six-figure outcomes for their seven-figure businesses through her program, the Power Profile Biz Accelerator.STORY: Kassy knew this celebrity who had an incredible idea of making passive income. All she had to do was invest $2,000 in the product the star was selling, and she would get a certain amount every time he got a new customer. This was all a lie. Kassy never made a single penny.LEARNING: Don’t trust anyone who asks you for money first. There is no such thing as passive income; you’ve got to put in the work. “Trust is everything. You don’t have to manipulate people to earn money.”Kassy Pajarillo-Braganza Guest profileBusiness growth online mentor and coach Kassy Pajarillo-Braganza helps coaches, consultants, trainers, private practitioners, and service-driven entrepreneurs claim their six-figure outcomes for their seven-figure businesses through her program, the Power Profile Biz Accelerator.Worst investment everWhen Kassy was younger, there was this reputable guy who was sort of an elite celebrity. She knew him, and he seemed to be credible.The guy has this insane idea of making passive income from a product (vitamins) he was selling. The buyer would make a certain amount every time a new customer invested in the product.Just a scamKassy was interested in the idea, so she talked to him about it. He told her that she needed to invest $2,000, and each time he invited another person to join the community under her, she would earn a certain amount of money. She just had to sit back, wait for the guy and his team to do all the work, and she’d make money in return without lifting a finger—besides paying the $2,000.The guy assured her that it was a good investment and many other celebrities were in it. Kassy was convinced that it was an excellent idea, and so she invested in it.Kassy never made any money from the investment. All she had was tons of vitamins.Lessons learnedYou’ve got to do the work to make moneyAside from doing the research, you got to do the work. There’s no such thing as sitting around and expect other people to do the job and bring in passive income for you.Work with credible peopleBeing a celebrity does not necessarily count as credibility. When you want to partner with people, always ask yourself what they are after and what you stand to benefit from the partnership.Be wary of the shiny object syndromeBe careful of people flashing money and promising you will have x amount in whatever time frame; if it’s too good to be true, run right away.Avoid people asking you to give them money so that you can make moneyAnyone asking you to provide them with cash first, avoid them at all costs.Andrew’s takeawaysTrust is vital when doing businessTrust is essential when doing business with anyone. However, it is vital to understand that there is no shortcut to trust. It has to be built over time.Don’t be seduced into a bad investmentSalespeople are very skilled at seducing you into their business ideas. Many are hard to resist, but you must be careful about every business opportunity that comes your way. Remember that anyone trying to sell an idea to you is out to benefit themselves, not you.No income is passiveThere is no such thing as passive income. Any tiny business that you’re going to do, you must put in work if you are going to make an income. No real income will ever come from just sitting and waiting for it to hit your bank.Actionable adviceKnow your goal and your big vision, then go in that direction. If you don’t have a vision, you will always be directionless.No. 1 goal for the next 12 monthsKassy’s number one goal for the next 12 months is to help more women reach their six to seven-figure dollar income.Parting words “Drive ambition, keep on serving love and do that one thing that fuels you.”Kassy Pajarillo-Braganza [spp-transcript] Connect with Kassy Pajarillo-BraganzaLinkedInTwitterFacebookWebsiteAndrew’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: David Allen is one of the world’s most influential thinkers on productivity. His bestselling book, Getting Things Done: The Art of Stress-Free Productivity, has sold millions and been published in thirty languages.STORY: David Allen was busy writing his third book when he decided to hire someone to help him run his business. He came across someone who had a good resume and seemed like a good fit. David was pressed to make a rush decision to hire him without doing any due diligence because he claimed to have another offer. The guy ended up being a wrong fit.LEARNING: Don’t make decisions when you’re under pressure, and don’t let desperation prevent you from doing your due diligence. “Avoid decisions to the last responsible moment.” David Allen Guest profileOne of the world’s most influential thinkers on productivity, David Allen’s 35 years of experience as a management consultant and executive coach have earned him worldwide recognition. His bestselling book, the groundbreaking Getting Things Done: The Art of Stress-Free Productivity, has sold millions and been published in thirty languages; and the “GTD” methodology it describes has become a global phenomenon, being taught by training companies in more than ninety countries. David, his company, and his partners are dedicated to teaching people how to stay relaxed and productive in our fast-paced world.Worst investment everNeeding help so that he can concentrate on his bookWhen David was writing his third book, he realized that he was so busy he needed someone to help him run his business. He decided to hire a manager, someone with a sales and marketing background, because that seemed to be what the company needed at the time.Hardpressed to make a decisionDavid found a guy who had a good resume and seemed to be a good fit. However, the guy insisted that David makes a quick decision because he had another offer. So he decided quickly, without sufficient due diligence, to find out whether the guy was the right fit or not.This turned out to be the worst investment David has ever made. The guy just didn’t fit into the company’s culture, and worse, he was making side deals and stealing from the company. It took David three years to realize he had hired the wrong guy.Lessons learnedDon’t make decisions when under pressureDon’t be pressured to make decisions. Slow down, hold back and wait until the pressure is off. Deciding under pressure will only cause you to make an emotionally driven decision that is often not the right one.Andrew’s takeawaysStep away from pressureWhenever you feel pressured, it’s okay to step back. Even if you miss the opportunity, there will always be another one coming.Don’t let desperation prevent you from doing your due diligenceWhen you’re overloaded and in desperate need of assistance, and you find the solution you need, don’t get too excited and skip your due diligence. You still need to find out if the solution is the right one for you.Actionable adviceRelax, take a breath and make sure that you’re building in some reflective process for yourself in your life.No. 1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to continue supporting his network of trainers, coaches, and licensees.Parting words “Stay focused, be healthy, and stay safe.”David Allen [spp-transcript] Connect with David AllenLinkedInTwitterWebsiteAndrew’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: Kevin Carter is the Founder and CIO of the Emerging Markets Internet & Ecommerce ETF (NYSE: EMQQ) and Chairman of the EMQQ Index Committee.STORY: During the Dot-com boom, Kevin came across Amazon, but he dismissed it as just a bookstore not worth its valuation. He decided to short Amazon and lost a third of his net worth at the time. Had he bought the stock instead of short selling it, he would be $50,000 richer today.LEARNING: Short selling is a bad investment idea. Nobody can do a perfect valuation; always know that you are working with estimates. “Good judgment comes from experience, and experience comes from bad judgment.”Kevin Carter Guest profileKevin Carter is the Founder and CIO of the Emerging Markets Internet & Ecommerce ETF (NYSE: EMQQ) and Chairman of the EMQQ Index Committee. Prior to EMQQ, Kevin was the Founder & CEO of AlphaShares, an investment firm offering five Emerging Markets ETFs in partnership with Guggenheim Investments. Previously Kevin was the Founder & CEO of Active Index Advisors, acquired by Natixis in 2005, and the Founder & CEO of eInvesting, acquired by ETRADE in 2000. Kevin received a degree in Economics from the University of Arizona and began his career in 1992 with Robertson Stephens & Company.Worst investment everIn the late 90s, Kevin was a very confident young value investor. He wanted to be like the likes of Warren Buffett. He had worked as an analyst professionally and got paid very well by hedge funds and mutual funds for his research.The Dot.com boom hitsThe Internet showed up, and then the Dot-com bubble burst. Kevin was relatively successful at that point and confident but also a bit naive.Kevin got wind of a new e-commerce company, Amazon, but he thought of it as just a bookstore. He believed that it shouldn’t be valued any differently. He spent a lot of time comparing Amazon to Barnes and Noble and was convinced that it would not amount to much.Kevin concluded that with a $1.4 billion market cap, Amazon’s stock would sell for just a fraction of that. He even predicted that the company would be lucky to sell for $200 million in cash.Short selling AmazonKevin decided to short Amazon in March of 1998. He lost about a third of his net worth in a day and a half.Amazon’s current market cap is $1.6 trillion. Had Kevin not short sold Amazon and instead bought the stock, his position today would be worth $50,000.Lessons learnedDon’t make valuation shortsShort selling to make money is a bad idea because it has complicated mathematics behind it. Most of the time, it is just not worth it. The other problem is when you short something, and you’re wrong, your exposure gets bigger.Andrew’s takeawaysLet go of hindsight biasWhen people make mistakes, they will often engage in hindsight bias. They look back and wish if only they had done this or that. The truth is, when you are making decisions, you’re making them with the best information you have and the application of your judgment at the time.Nobody can do a perfect valuationIt is tough to make a 100% correct evaluation. The solution is always to question everything when developing a valuation estimate and accept that it is an estimate.Actionable adviceUnderstand and work with the price-to-earnings-to-growth (PEG) ratio when picking a stock.No. 1 goal for the next 12 monthsKevin’s number one goal for the next 12 months is to have fun and try to re-enter the real world.Parting words “Have fun and enjoy the rest of the year.”Kevin Carter [spp-transcript] Connect with Kevin CarterLinkedInTwitterWebsiteAndrew’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: Jeffery Potvin is an angel investor in multiple regions and has invested in 55+ companies. He is a member of seven angel groups and screening committees while being the driving force behind Open People Network (OPN)! OPN is a group of angel investors helping accelerate the growth of early-stage startups.STORY: Jeffery’s company had been working on and off with this startup for about two years. When the startup came back with a product and an investor, Jefferey took interest, and even though he had some doubts, he trusted the startup. It turned out his gut was right because the investor never held his part of the deal.LEARNING: Walk away from anyone trying to pressure you to close a deal and have the proper documentation in place before you sign the contract. The ultimate validation comes from your customer. “Look for resources, educate yourself, learn and dive right into it. Build that product, then find that angel investor.”Jeffery Potvin Guest profileJeffery Potvin is an angel investor in multiple regions and has Invested in 55+ companies. He is a member of seven angel groups and screening committees while being the driving force behind Open People Network (OPN)! OPN is a group of angel investors helping accelerate the growth of early-stage startups through The Supporters Fund and Pitchit Series. Jeffery is a lifelong entrepreneur with a proven track record of building companies and reinventing existing businesses. He has worked with a list of great clients, from startups to enterprises, over the years. Jeffery is a mentor, coach and loves to climb mountains.Worst investment everJeffery worked with a company for about two years on and off, helping them through their journey. An opportunity came up to invest in this new emerging company that had some great IP. The company had found an investor that would help them with the production. The investor was going to contribute considerable funds too.Getting deeper into the business ideaJeffery went through this process of doing a deep dive and analysis around the business. He requested that he meet with the investor who would pick the ball up and put a lot of money in to make this company successful.Jeffery met the investor, and as he started to pick their brain and learn more about them, he asked them questions because he had doubts. However, he never admitted his misgivings; he just kept going forward.Ignoring hisJeffery’s gut still told him that something was not right. But because he had been working with the startup for such a significant amount of time, he trusted that they had picked the right investor.Jeffery did not want to slow down the progress, so he ignored his gut, did all of the analysis, came back, and signed off on the deal.The truth comes outJeffery signed everything off, and everything was good. About six months into the project, when the final handoff was supposed to happen, the unforeseen happened. Once everything was solidified and sorted out, the investor ended up having creditors coming after them, and they went bankrupt. Everything they had worked hard for went down the drain just because of one person. If only Jeffery had listened to his gut.Lessons learnedWalk away from anyone trying to pressure you to close a dealIf there is any panic or pressure to close a deal, walk away. There’s a reason they’re putting that pressure on you. They’re probably in debt or something else. There’s always a problem when it’s high pressure. Nothing needs to be solved in five minutes; you should always have time to think.Be wary of third party validationValidating a product is very important but be careful when the owners want to bring in different people to validate your problem. If they cannot validate it themselves, then that is a red flag.Have proper paperwork before you make the investmentMost early startups don’t pay attention to the paperwork and analysis side. But if you want to avoid trouble in the future, you must buckle down and put that paperwork together before you invest.Andrew’s takeawaysDig deep with your questionsAnyone who is trying to trick you into an investment will always come well prepared. They will come ready for your questions. So you have to go beyond the answers that you get.The ultimate validation comes from your customerThe ultimate validation comes from the customer. So if you’re not ready to go out to the market, find a customer that you could partner with and test your market with them. Find out if the customer would be interested in your product. That type of customer validation is the best validation.Actionable adviceOveranalyze everything; scrutinize the hell out of every opportunity that comes your way to make sure that you get the result that you’re looking for when you say yes.No. 1 goal for the next 12 monthsJeffery’s number one goal for the next 12 months is to complete a $10 million raise and invest in another 30 companies. He’s targetting to go to his next $50 million raise.Parting words “Jump out there, start talking to and helping early-stage companies work their way through the angel investing cycle.”Jeffery Potvin [spp-transcript] Connect with Jeffery PotvinLinkedInTwitterYouTubePodcastWebsiteAndrew’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: Dubbed ‘the wolf of real estate,’ Mohanad Alwadiya is the most celebrated real estate, and business multi-media thought leader in the middle east. He is the CEO of award-winning Harbor Real Estate managing mixed-use institutional portfolios worth over $4 billion.STORY: Mohanad wanted to secure the future of his soon-to-be-born daughter, so he went for advice from his banker. The banker convinced him to sign up for a long-term insurance plan. A few years later, Mohanad realized that he was losing money from the plan instead of gaining. Any effort to resolve the issue failed, and he ended up stuck with a program where he was losing money.LEARNING: Do not trust your banker; seek independent financial advice. Don’t make emotion-driven decisions, and continuously monitor your investments. Separate the creation of wealth and the growth of wealth. “Investing in knowledge is the only thing that you will never lose.”Mohanad Alwadiya Guest profileDubbed ‘the wolf of real estate,’ Mohanad Alwadiya is the most celebrated real estate, and business multi-media thought leader in the middle east. He is the CEO of award-winning Harbor Real Estate managing mixed-use institutional portfolios worth over $4 billion. Mohanad has his own top-rated property reality–TV show & he’s the author of the best-seller “Landlording–from renting to financial freedom.”A senior instructor and advisor at Dubai Land Department since 2009, certifying and mentoring thousands of real estate professionals across the region. Mohanad was listed amongst the top 100 most influential personalities in the UAE in 2018. During the 2019 distinctive international Arab festivals awards (DIAFA), he was also awarded as the best social media influencer of the year.Worst investment everAlmost two decades ago, Mohanad was graduating from university and was excited about life. His goal back then was to become financially independent. He wanted to break free from his family financially.Making a plan to be financially independentSo the plan for Mohanad back then was to identify the number that would allow him to be free. He came up with $2,000. He thought if he gets this every month, he would be financially independent and not depend on his family.The best way to make this happen was to get a job. So he applied for jobs and finally, he got a very good one. Mohanad worked extremely hard with commitment and consistency, and he was able to achieve that number. He got the salary of his dreams.Wanting moreMohanad was super happy and excited about hitting his number, but after a while, he realized that this number was not enough anymore. He had developed higher expectations and was more ambitious. His expenses had also grown.Mohanad decided to increase his number by another $1,000. So he worked long hours, made more clients happy, and after a while, he got it. But again, he wasn’t satisfied with this new number. This time, Mohanad decided to increase the number substantially, so he doesn’t have to do this every year or two. He raised his number from $3,000 to $10,000.New and bigger responsibilitiesAs Mohanad was working hard towards achieving this new number and his ultimate goal for financial independence, something changed his life forever. Mohanad found out that he was going to be a father.Mohanad had a lot of mixed feelings. He was so happy, but he also panicked because all along, he was working on a plan for himself. He never thought of having another person that he needs to work for. So he freaked out.Securing his daughter’s futureMohanad now started concentrating on coming up with a plan to secure his soon-to-be-born baby girl. He decided to go and consult the person who knows about money the most—his banker.Mohanad rushed to his bank and broke the news to his banker. The banker pulled out a fancy folder, opened it up, and showed Mohanad this golden long-term investment plan. He later found out that this was a product that the bank was selling on behalf of an insurance company. Without any hesitation, Mohanad decided to allocate a sizable portion of his new number towards this investment for his daughter.He signed that agreement, a commitment that he will be investing every month with this company with the promise that they’re going to give him a considerable amount of money when his daughter turns 18. This money would help her get a good degree. Then, she’ll get her own job and start working on her number like Mohanad decided to do with himself.Forgetting about the investmentMohanad went back to his everyday life. His daughter was born. He kept working hard, and every month the insurance company would take a big chunk of his salary.After a couple of years, Mohanad checked his email when he came across the quarterly report he would receive from the insurance company. Usually, he wouldn’t check them because he believed his banker kept tabs on the investment for him. This particular time he decided to click and see what was happening. He was shocked to realize that he had lost almost 48% of the principal.The banker bails out on himMohanad called the banker who bailed on him immediately and asked him to call the insurance company directly. He called the company and learned that there was no mistake; he had indeed lost that much. He was confused because the investment was supposed to be gaining, not losing. They kept debating so much over the phone that Mohanad decided to have a meeting with them.He met the head of investment at the time, and he was extremely cold. He asked Mohanad to go through the contract that he signed. The contract stated that there was a big chance he could lose money. And if he wasn’t happy with the company’s performance, he could change his investment allocation.Stuck with a bad investmentMohanad weighed his options and realized that he was stuck with this investment. If he stopped the plan, he would lose everything. He decided to reduce the amount he invested with them without any penalty until such a point, about five years when he could get out with a loss.Changing his financial independence tacticsThis investment mistake left Mohanad angry and devastated. He decided to change everything, where finances were concerned. He didn’t want to have a number anymore. What he needed was to have a better objective in his life. Mohanad realized that he needed not just to have a number in terms of monetary value but also a number in terms of sources of income. He decided that he didn’t want to be an employee anymore. Or even if he stayed employed, he must have multiple sources of income.Mohanad started reading books about investment to educate himself on how to invest. He never wants to make such an investment mistake ever again.Lessons learnedDon’t make emotion-driven decisionsDon’t make investment decisions when you are feeling emotional. You need to be rational when choosing what to invest in.Never trust your bankerYou should never trust your banker ever. They are good at keeping your accounts but not good when it comes to offering you professional investment advice. Instead, seek professional advice from independent consultants or people who have been through the investment journey and have a genuine interest to help, not just trying to sell you something.Monitor your investmentMake sure that you monitor your investments regularly so that you are aware of everything going on. If something is wrong with your investment, you will know about it early and find the necessary solution.Andrew’s takeawaysDon’t take investment advice on face valueWhen someone comes to you with an investment proposal, don’t accept it on the spot. Take it home, look at it, read it, and then ask advice from people who know about such investments.Start investing now and take advantage of the power of compoundingif you start investing now and you invest over time, your money will grow exponentially over time because it’s compounding. However, if you were to take your money out of your investment for your monthly living, you don’t get the compounding interest. Correct compounding assumes all of the income and all of the gain that you receive is being reinvested in that investment.Separate creation of wealth and the growth of wealthCreating and growing wealth are two different things that should be kept separate. Creating wealth is what we do to generate income streams. Growing wealth is taking that income and investing it in a place like the stock market so you can earn more from it.You can generate wealth even if you have only one source of incomeNot everybody can generate 55 different types of income streams. There’s nothing wrong with having a good job that’s earning you good money. If you keep your monthly spending below your income, you will create wealth each month through your salary.Actionable adviceKeep reading. The more you read, the easier it will be for you to read more books. Your knowledge, your ability to comprehend specific terminologies or industries will become faster and easier for you.No. 1 goal for the next 12 monthsMohanad’s number one goal for the next 12 months is to start a crowd investment platform in Dubai. The platform will specialize in making real estate a mass opportunity for people to invest in. The goal is to make it easier for people to review specific assets and invest in them, as little as $1,000. This way, they can own a stake in a property that is already generating income to have an added source of income.Parting words “Just keep investing in yourselves. Try to start building other sources of income even if they are just small ones.”Mohanad Alwadiya [spp-transcript] Connect with Mohanad AlwadiyaLinkedInTwitterWebsiteAndrew’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: Janet Metzger is an experienced Network Marketing Coach and Consultant with a demonstrated history of achieving results.STORY: Janet found herself jobless after her position was made redundant. She was 59 years without any idea of what to do next. She hired a coach who misguided her from doing what she loved most. Instead, she invested in a franchise that she ran for two years and hated every bit of it.LEARNING: Get the right mentor or coach, and don’t let anything bring down your confidence. “You can do anything that you decide to do. But you have to get the right mentor or coach.”Janet Metzger Guest profileJanet Metzger is an experienced Network Marketing Coach and Consultant with a demonstrated history of achieving results. She has been a leader in various organizations and has led sales teams that produced $60M in annual revenue and large teams of over 10,000 members. Her experience varies from start-up businesses to Fortune 100 Companies. And her first love remains Network Marketing, and she’s proud to be a part of this great industry.Worst investment everJanet worked for a Fortune 100 company for 17 years. Then she went to another humongous company in network marketing and direct sales, where she worked for 18 years. Janet loved it here, but she needed a change, and so she quit.Forging a new pathJanet tried a couple of different things, including running multi-million-dollar businesses, but nothing ever felt good. All of a sudden, she was now the person working two years here, two years there. In one of her jobs, her role was made redundant, and she found herself jobless at 59 years of age.Janet did not know what she was going to do next. All she knew was that she wasn’t ready to retire. Fortunately, she had some money in the bank, but she was crazy bored.Following her passionJanet’s passion was helping people achieve their goals and dreams. She decided to hire a coach and paid her a substantial amount of money. Janet told the coach what she wanted to do, but the coach was just a dream stealer who convinced her otherwise.The coach convinced Janet that she wouldn’t be able to do what she wanted. Instead, she advised her to invest over $50,000 into a franchise. After two years of running the franchise, she still wasn’t happy.Losing her confidenceJanet lost all the confidence she had developed over the years working for great companies and from having great mentors. She went from being full of self-esteem to having none. These were the worst two years of her life.Janet regretted getting that particular coach because she got nothing out of her. The two years she invested in her became her worst investment ever.Lessons learnedGet the right mentor or coachYou know what you’re good at. Now, all you have to do is follow your goals and do anything you decide upon. But you need to have the RIGHT mentor or coach to guide you to your goals.Andrew’s takeawaysDon’t let anything bring down your confidenceA lot could bring down your confidence as an entrepreneur, from not hitting your goals to your products not selling. All this can wear you down. But always remember that to be successful, the people who work with you need confidence in you. So don’t lose your confidence; otherwise, people will bail on you.There is a difference between intuition and emotionAlways choose intuition over emotion. To do that, you must know the difference between the two. Intuition is a moment of clarity. So always pay attention to your intuition.Actionable adviceHave a goal that you want so bad that you can taste it. You may not know how to do it, but just have that goal in front of you. Secondly, when selecting a coach or a program, this is the one time to slow down so that you can speed up.No. 1 goal for the next 12 monthsJanet’s number one goal for the next 12 months is to serve 1,000 people with her online subscription program focusing on the 13 skills that network marketers should have.Parting words “As long as you learn a lesson from your mistake, you’re okay.”Janet Metzger [spp-transcript] Connect with Janet MetzgerLinkedInFacebookYouTubePodcastWebsiteAndrew’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: Flavilla Fongang is a Top 5 most influential tech woman. She is the author of 99 Strategies to get customers, International Keynote Speaker, BBC Brand Strategist, Brand Growth Coach, Branding & Marketing Agency MD, TLA Black Women in Tech Founder, and Tech Brains Talk Podcast.STORY: When Flavilla started a personal branding consultancy, she made the mistake of charging by the hour. This made her lose money, and people perceived her low rates as a reflection of her services.LEARNING: Don’t align yourself with followers who pay less. Align yourself with leaders who will pay premium rates. “Align yourself with the leaders, not the followers.”Flavilla Fongang Guest profileFlavilla Fongang is a Top 5 most influential tech woman. She is the author of 99 Strategies to get customers, International Keynote Speaker, BBC Brand Strategist, Brand Growth Coach, Branding & Marketing Agency MD, TLA Black Women in Tech Founder, and Tech Brains Talk Podcast.Worst investment everFlavilla worked in oil and gas and then later decided to become a fashion stylist who self-taught herself. She read a lot of books and learned about becoming a fashion stylist.Flavilla then quickly realized that people were very interested in personal branding, so she became a brand consultant.Not following her own adviceFlavilla would often advise her clients to pick a niche, but she couldn’t bring herself to pick one out of fear of losing opportunities. She was working with clients in all sorts of niches. So she became a jack of all trade.Another huge mistake Flavilla made with her business model was charging by the hour. People would comment about how cheap she was, and cheap is not good as it’s often viewed as a reflection of your value. Now the problem with the hourly rate is that if you are very efficient and good at what you do, you lose a lot of money. This is what happened to Flavilla. She realized that she was doing it wrong and started using value-based pricing.Lessons learnedDon’t align yourself with followers; align yourself with leadersIf you align yourself with followers, you’ll be going for the lowest bracket instead of the higher bracket. When you charge people more, they tend to trust you more and see you as the best in what you do. So leave the time-wasters who are always looking for a bargain; go for the top-notch clients who will value what you do.Andrew’s takeawaysSell an outcomePeople are always willing to pay a lot for transformation, but they pay a small amount for knowledge. So sell an outcome.Actionable adviceDouble your price to lockout time-wasters, and you will only have people that really enjoy working with you and value what you have to offer.No. 1 goal for the next 12 monthsFlavilla’s number one goal for the next 12 months is to get herself out of the equation. She believes she’s become her own burden as much as her own strength. People love who she is and want to work with her. But she needs to get herself less involved in the management of her business. [spp-transcript] Connect with Flavilla FongangLinkedInFacebookTwitterPodcastWebsiteAndrew’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 Trikomitis has an array of experience from the investment banking sector in London and the US and working in financial services for over 17 years. Chris is currently a coach, investor, and entrepreneur.STORY: Chris met a group that was in the restaurant business. They dined him in different restaurants seducing him into the good life. Chris wanted a piece of this lifestyle, and so he invested in a restaurant. Unfortunately, he did not have the skills and experience necessary to run a restaurant, so the business failed.LEARNING: Keep your lifestyle simple, stick to what you are good at, and test theories first before investing in them. “You can earn the lifestyle you want by being cautious, investing a bit more carefully, and doing your research.”Chris Trikomitis Guest profileChris Trikomitis is in particularly high demand and is often requested to give informative and motivating keynote speeches at local and international events worldwide. Chris has an array of experience from the investment banking sector in London and the US, as well as working in financial services for over 17 years. Now a coach, investor, and entrepreneur, Chris’s background ranges from developing competitive business strategy, sales, marketing, and he has been instrumental in growing various businesses.Worst investment everChris mainly focuses on financial investments, but he once decided to go into physical investments.Getting dined and wined into investingChris invested in a restaurant and a co-working space after getting wined and dined from morning to night in different locations owned by the same group. The group totally sold him on the lifestyle, and after that, he invested in the program.Chris bought a restaurant and added a co-working space. The idea was to get the co-working space to pay for the rent and the restaurant to make the profit. Then he would use both businesses to give people the opportunity to have a quiet place to work. They’d also get the chance to take advantage of some of his food by providing free credits, which would then encourage them to buy more.Getting the work doneThe idea of owning a restaurant was very seducing to Chris. When he got down to it, he looked at things more from a consumer perspective than an actual investor. When it came down to doing the real work, Chris quickly realized he didn’t have the experience or skills needed to run a restaurant.Time to foldChris found himself injecting his own money into the restaurant because it was not making enough to cover the costs. He tried different marketing ideas, but nothing seemed to work. Chris knew that he did not want to keep investing in the restaurant in the long term. So eventually, it just hit that maybe he should just call it a day and focus his time on something that could generate more income.Lessons learnedStick to what you are good atStick to what you are good at, and don’t get carried away so easily. This does not mean you can’t gain that lifestyle you desire, just invest more wisely and don’t shift too far away from what you’re good at.Andrew’s takeawaysTest your theoriesThe key to success in business is figuring out how to test your theories without requiring a lot of money.Keep your lifestyle simple to avoid falling for bad investmentsKeep your lifestyle simple, and be careful not to be seduced into bad investments in a bid to live an expensive lifestyle.Actionable adviceAppreciate what you have.No. 1 goal for the next 12 monthsChris’s number one goal for the next 12 months is to build a solid foundation for his company.Parting words “Always take a step back before you make a decision. Think about it from an all-round perspective, not just with your heart.”Chris Trikomitis [spp-transcript] Connect with Chris TrikomitisLinkedInFacebookTwitterWebsiteAndrew’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: Andrew Bryant, CSP is a Global expert on Self Leadership, a C-Suite Advisor, an Award-Winning Coach, and a Best-Selling Author.STORY: Andrew invested heavily in a gym with the plan to offer service-based health and wellness. Low-cost gyms came up and swallowed his business.LEARNING: Understand how to get in and out of a business, test your market first and know what your customers want, not what they need. “Sunk cost does not account for the learning.”Andrew Bryant Guest profileAndrew Bryant, CSP is a Global expert on Self Leadership, a C-Suite Advisor, an Award-Winning Coach, and a Best-Selling Author. English by birth, Australian by passport, Singapore by PR, and Brazilian by wife, Andrew is adept at moving across cultures.Andrew is on a mission to ‘wake people up’ to their best possible selves, which he does through his Conference Keynotes, Leadership Team Facilitation, and Coaching.He is Leadership Faculty for Singapore Management University, where he also contributes to the Women in Leadership Program and is most proud of the work he has done building self-esteem and confidence for at-risk teenagers.Worst investment everAndrew’s first degree is in physiotherapy. He worked in hospitals for a couple of years and later with sports teams.Bringing his strengths together to build a businessAndrew decided to bring together his medical and sports experience to create a wellness center. So he bought a gym. Andrew had always been critical of gyms because they were poorly managed, and there were many myths about fitness. He planned to bring science to fitness as a physiotherapist.Investing too heavilyAndrew overly invested in the gym without realizing that he was paying for things he didn’t need to pay for. Then he hired the best human resource graduates from the local university to be personal trainers and paid them a lot. He believed that would make the difference. Andrew invested in equipment, real estate, and staff.Too much competitionAndrew focused on offering service-based health and wellness, and it worked for just a little while. Then the fitness craze hit Australia, and low-cost gyms sprouted everywhere. These gyms weren’t selling service; they were selling hope. While Andrew was charging $49 a month for a subscription, the new gyms would charge $49 a year. The low charge obviously attracted people, and this drove his customers away.A flawed business modelThe biggest mistake Andrew made was not realizing that his business model was flawed. Instead, he continued investing more and more money until he ran out.Lessons learnedTest your market firstTest your market first with a minimum viable product to see if things are going to work out before putting all your money into the product.Have somebody to argue against your propositionLook for someone that you trust and spend time arguing against your idea and pick holes. This will help you see if your idea is viable.Understand how to get in and out of a businessWhen creating your business plan, remember to include an exit plan should the business fail. If you don’t have an exit plan, you don’t have a business; you’ve just bought yourself a job.Andrew’s takeawaysLook at the dynamics of an industry and exit when necessaryBefore you enter a market, look at the dynamics in that industry. Consider how the competition is. Sometimes you can’t swim against the tide, especially when there is a significant change in that industry. It may make sense to exit when this happens.What the customer wants versus what they needGet to understand what the customer wants and deliver that to them. It is not your business to determine what the customer needs; give them what they want.Actionable adviceIf you are in the stuck phase, know that this too shall pass. Just don’t allow the sunk cost fallacy to keep you in a bad investment. It is ok to walk away. You may not have money in the bank, but as long as you have been able to articulate your failed venture as a lesson, and you can share that lesson, then you haven’t lost the value.No. 1 goal for the next 12 monthsAndrew’s number one goal for the next 12 months is to settle in Portugal. He is in the process of moving from Singapore to Portugal and is busy packing right now.Parting words “Never seek validation, but it’s always nice to get validation.”Andrew Bryant [spp-transcript] Connect with Andrew BryantLinkedInTwitterFacebookWebsiteAndrew’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: Andrew Woodward is the founder of The Investor’s Way. He is on a mission to change the financial lives of 1,000,000 people and believes everyone deserves to know how to manage their money for better money outcomes.STORY: Andrew invested in a strategy that seemed to work pretty well. Then he decided to add leverage without first understanding how it would work or affect his investment strategy. Andrew lost the money he invested.LEARNING: Understand what you’re investing in before introducing leverage. Learn how to manage your wealth because you can’t rely on other people to invest your money. “Nobody is going to care more about your money than you. Learn how to do it and secure your financial future.”Andrew Woodward Guest profileAndrew Woodward is the founder of The Investor’s Way, a former Chartered Accountant, Chartered Secretary, and Company Director, who now teaches people to take control of their money and learn how to invest it, without the need for expensive advisors, so they can build a secure financial future.He is on a mission to change the financial lives of 1,000,000 people and believes everyone deserves to know how to manage their money for better money outcomes.Worst investment everAndrew happened to go to one of those overhyped investment workshops and spent three days in a room with people getting amped up about investing. By the time he was leaving the workshop, he believed these people were the best investors in the world, and he was now one of them.Getting introduced to The Magic Moo Cow investment strategyAt the workshop, Andrew learned this strategy called The Magic Moo Cow. He believed it was going to be the absolute best investment strategy anyone could ever run into.The strategy basically involved buying a stock then wait a little bit for it to go up. Then you introduce options into the equation and then buy a put above the price that you bought the stock. Then every month, you sell calls and collect the premium. No matter what happened, you are always going to make money. If the stock goes up, you make a profit, and if it goes down, you’re covered by the put.It all looked fantastic, and so Andrew did it. He did it for a while on his own, and the strategy was doing ok.Adding leverage to his investmentOne day Andrew got an email from the promoter of strategy saying that, for a few select people, he wanted to offer them a product that would do all the hard work for him. Andrew thought this sounded like something that would introduce some leverage into his investment and earn more profit.Andrew entered into an arrangement that enabled him to leverage his investment in the Magic Moo Cow strategy into about $100,000. He had to put down $5,000 only to leverage to $100,000.Ignoring the fine printAndrew never read the fine print because this was a guy he had built some trust with. He simply relied on the advice he got when he made that investment.For the first few months, everything was fine. The investment was doing what it was supposed to do. There was only one problem; a major bank that was providing this product. When the market experienced a major meltdown, the product was designed to move back into cash. So because the stock had dropped so much, the bank sold most of the stock and put it back into cash.Difficult to get back inThe mechanism that the bank designed to get back in when the market was ready was so restrictive that the ability to make your money back, irrespective of what the market did, became almost impossible.Very quickly, Andrew started seeing that what he put in and the value he’d leveraged to it had dropped dramatically. Also, there was no stock to write calls against or to buy puts for. So he was pretty much just sitting in cash while the stock market was growing.Customers started complaining, and the product promoter approached the bank and negotiated a way for the product rules to be changed to enable people to at least be able to get something back on their investment. After a few years of negotiating and watching this investment pretty much slowly die, Andrew’s $5,000 investment became something like $500, making it his worst investment ever.Lessons learnedUnderstand what you’re investing inMake sure that you fully understand your investment. Should a strategy be introduced into it, ensure that you fully know the rules and how the system is going to work.Don’t introduce leverage to an investment you don’t understandIt is very risky to introduce leverage to an investment that you don’t understand. Leverage is a great thing when it’s working for you. However, it only works when you fully understand how your investment works.Invest in yourself by learning how to manage your wealthYou just cannot rely on other people when it comes to investing your money. Be knowledgeable about managing your wealth so that you can do simple things without getting caught up in complex structures and complex products. It does not have to be overly expensive to get to a position where you can manage your money yourself for the long term.Andrew’s takeawaysNot all investment strategies can be implementedMany of the investment strategies out there can’t consistently be implemented. Therefore, evaluate your investment strategy of choice very carefully.Read the fine print before investing in bank productsBanks love issuing products because they are moneymakers. Sometimes these products have very complex structures. Understand the fine print well before you invest in these products to protect yourself.You have to be the primary caregiver of your moneyNobody is going to care more about your money than you do. Hence, learn how to take care of your money instead of paying someone else to do it for you because they can’t do it forever.Actionable adviceThe next best time to start investing is right now. So do a little bit of learning, and then just start and continue learning by doing.No. 1 goal for the next 12 months.Andrew’s number one goal for the next 12 months is to get version three of the Investing Boot Camp launched and into the hands of as many people as possible. He believes it’s an opportune time for people to think about where their money needs to be and start taking some action. The Boot Camp is a great way to get access to him and everything that he has produced.Parting words “I hope that the listeners have learned something from my mistakes so that they don’t make the same ones.”Andrew Woodward [spp-transcript] Connect with Andrew WoodwardFacebookYouTubeWebsiteAndrew’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