My Worst Investment Ever Podcast

BIO: Steve Faktor is a former Fortune-100 executive—turned entrepreneur. As Managing Director of IdeaFaktory Innovation, he helps tech, financial services, and consumer goods clients see and build the future. The McFuture Podcast features Steve’s provocative predictions and prescriptions.STORY: Steve’s lifelong dream was to be a comedian and radio personality just like Howard Stern. His parents, however, could hear none of it and pushed him to conform to being a nice boy who does well in school and then goes out to get a family and a job that everyone can be proud of. Today, he regrets never fighting hard to achieve that dream.LEARNING: Fight hard to pursue your dreams, and don’t let anyone stop you. It is not too late to turn back and chase your dreams. “If you follow the money, the culture, and technology, you will lead yourself to the right answers.”Steve Faktor Guest profileSteve Faktor is a former Fortune-100 executive—turned entrepreneur, futurist author of Econovation, and podcaster. As Managing Director of IdeaFaktory Innovation, he helps tech, financial services and consumer goods clients see and build the future.Steve is a LinkedIn Influencer with over 750,000 followers and has been featured in Forbes, Harvard Business Review, and The Wall Street Journal, among others. He’s a popular keynote speaker at major events and numerous corporations.The McFuture Podcast features Steve’s provocative predictions and prescriptions, as well as guests like Larry King, comedian Jim Jefferies, Governor Jesse Ventura, Nobel Economist Joseph Stiglitz, former ACLU President Nadine Strossen, Megachurch Pastor AR Bernard, and many more.Previously, Steve launched multiple $150m+ loyalty, payments, and e-commerce products & services as head of the American Express Chairman’s Innovation Fund, SVP at Citi Ventures, VP of Strategy & Innovation at MasterCard, and management consultant at Andersen.Worst investment everSteve was always a creative, disruptive, and curious child. He would often question everything, including what the rabbis taught him.Tucking his creativity awayNow one thing Steve loved was writing. He would always write, and some of this stuff was so creative and funny. Steve kept his writing in a plastic shopping bag and tucked it away in his grandmother’s house in her closet.Watching his dream wither awaySteve’s dream was to be Howard Stern. He grew up listening to him. The excitement of live radio blew him away, and he just wanted to be part of it. Steve even bought a special Walkman that allowed him to record shows. He would listen to the recordings on his way to school and back.Steve even got into Boston University, where Howard went, but he ended up going to NYU, where he got an academic scholarship.Steve’s parents were oblivious to his passion for writing or his love of radio, and they couldn’t care less about it. To them, a successful life is where Steve grew up to be a nice boy who did well in school, went out and got a family, and a job that everyone could be proud of. And that is the kind of direction they pushed Steve in.Lessons learnedFight hard to pursue your dreamsYou have to fight harder if you feel that something is innate inside of you. You cannot allow anyone, even your parents, to guide you elsewhere. So, fight for that personal narrative that fits who you are.Andrew’s takeawaysIt is not too late to turn back and chase your dreamsThink about your dreams and the things that are holding you back from achieving those dreams. Now believe that you have shelved your dreams for far too long and gather the courage to move to the next level.Actionable adviceDistinguish between what is easy and what is satisfying—chase what is satisfying and fulfilling.No. 1 goal for the next 12 monthsSteve’s number one goal for the next 12 months is to get on Joe Rogan’s show. [spp-transcript] Connect with Steve FaktorLinkedInTwitterYouTubeWebsitePodcastAndrew’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 mentionedMalcolm X and Alex Haley (1965), The Autobiography of Malcolm X

BIO: Lisa Goldenthal is an expert concierge lifestyle coach, creating customized meal and exercise plans for clients to combat sleep deprivation, stress, and unhealthy eating. Lisa recently launched The WholeCEO Podcast, where she sits down with industry leaders to discuss their insider secrets to being unstoppable.STORY: Lisa, for a long time, assumed that she could eat anything she wanted over the weekend and burn it by working out during the week. But, this was a horrible plan that never worked. Tired of her unsuccessful plan, Lisa discovered her Boss Weight Loss system that works like magic.LEARNING: You are what you eat, and your body is your best investment ever. Have a flexible, structured, and consistent weight loss plan. “Your health is your wealth, and health and time are your diminishing assets.”Lisa Goldenthal Guest profileLisa G. is the best-selling author of The Boss Weight Loss and creator of the original Skinny Jeans Workout that sold over 100,000 units in Target and Walmart. She has been featured in Life & Style Magazine, KTLA 5, CBS News, Thrive Global, and Web MD and has 20+ years transforming clients’ lives, including Cheryl Tiegs and Paul Zane Pilzer.Lisa is recognized as an expert concierge lifestyle coach, creating customized meal and exercise plans for clients to combat sleep deprivation, stress, and unhealthy eating. She gets results for high-impact CEOs, Senior Executives, Busy Entrepreneurs, and Boss Moms by holding them to the highest level of accountability to get in shape while increasing productivity and energy levels. She inspires clients to go from stuck to unstoppable in all areas of life-wellness, weight loss, business, and mindset!Lisa recently launched The WholeCEO Podcast, where she sits down with industry leaders in business, wellness, fitness, and mindset to discuss their insider secrets to being unstoppable, wrapped around their own personal journeys to dreaming bigger and never giving up...no matter what.Worst investment everThe not-so-clever weight loss planLisa used to take her health for granted. She used to think that she could eat anything she wanted and then work out.Lisa would drink and party like a rock star on the weekends and then eat healthily and work out during the week. And so she spent her whole life going on crazy diets, but they did not work long term.Coming up with a permanent solutionLisa went through so much pain trying to find a weight loss plan that would finally work. People were starting to make snide comments about her weight, especially since she was a workout person.These comments made Lisa hit rock bottom, and it was at her lowest that she discovered her Boss Weight Loss system.Lessons learnedYour body is your best investment everThink of your body as your best investment ever, and never forget that you are what you eat. You cannot be eating and drinking like a rock star every weekend and expecting to stay healthy just because on Monday; you will quit.Allow for some flexibility in your weight loss planHave a plan that allows a little flexibility because life is not so black and white. Always have some wiggle room in your plan.Andrew’s takeawaysHave a structure and a consistent weight loss planInstead of trying to starve yourself, start with a moderate weight loss plan that is consistent and has rules or structure.Actionable adviceBaby steps are the way to go. Pick one thing that you think you can consistently do, whether it is intermittent fasting, proper hydration, drinking water daily, cutting down carbs and sugar, etc., and focus on that one thing.No. 1 goal for the next 12 monthsLisa’s number one goal for the next 12 months is to impact a million people to live longer, have a better quality of life, have a better lifestyle, be healthier, have a stronger immune system, and realize that their health is their wealth.Parting words “Invest in your health. It will pay back in dividends more than you can count on with the stock market.”Lisa Goldenthal [spp-transcript] Connect with Lisa GoldenthalLinkedInTwitterYouTubeInstagramWebsitePodcastAndrew’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: Shane Torres is the CEO & Founder of Road to $20 Million. He is committed to helping people achieve real estate business success with life balance through valuable resources, business planning, and consulting for both entrepreneurs and real estate professionals.STORY: Shane started a home building company and roped in his wife as the designer and his friend as the project manager. He got overzealous with the business, took on more projects than the team could handle. This led to penalties from the EPA and the ultimate closure of the business.LEARNING: Do not force your employees to be like you, or have your personality. Great people still need coordination and leadership. Have a realistic perspective when exploring new business ideas. “Be upfront about expectations and processes. Also, ensure everybody understands what’s expected of each other.”Shane Torres Guest ProfileShane Torres is the CEO & Founder of Road to $20 Million. He is on a mission to redefine the journey to success and make it attainable for everyone.Shane is committed to helping people achieve real estate business success with life balance through valuable resources, business planning, and consulting for both entrepreneurs and real estate professionals. Regardless of industry or whether you hope to accomplish $1 or $100 million in production–Shane can help.Shane knows first-hand that success does not come easy. He faced countless personal and professional roadblocks, but he went from bankrupt, broken, and facing foreclosure to selling $20M in real estate in just four short years. Shane has built a highly productive team at his own company and lives a life he had only dreamed of living.Shane’s mission now is to help others to achieve personal and professional success and a balanced quality of life.Worst investment everShane always loved building houses, so he figured it would be a good idea to start a construction business. He brought on his wife to be the designer and his friend to be the project manager.Getting overzealousEverything was working out well, but Shane got a little overzealous and went from doing two projects to 20 something projects, building both rehabs and new homes. For the rehabs, Shane was, at the time, using some money lending facilities that had penalties for not getting done in a specific time.And next thing you know, Shane had six to 10 projects all come up to their maturity date at once. He was penalized a ridiculous amount of money by the EPA because the construction crew had not handled asbestos siding properly. He lost well over six figures in penalties in his first year of business.Pushing onFortunately, Shane had built up some money reserves, so he could weather the storm and not have to close shop as he had done back in 2009.But, tragedy kept following his business. His friend, the project manager, had some severe health issues, so Shane had to fill in for months, which he did not enjoy.Time to let goWhile holding his friend’s forte, Shane realized that he did not want to continue running this business. He talked to his wife about it, and they agreed that they would close shop once his friend got better.Shane later spoke to his friend, and he was also in agreement that they close down the business so each could focus on their other individual ventures.Lessons learnedDo not force your employees to be like youEveryone has their strengths and weaknesses. Do not force your employees to be like you or have your personality. This will only blow in your face.Andrew’s takeawaysBe realistic when exploring new business ideasWhen expanding into a different area or trying out a new business idea, often, things may seem easier than they appear. This could be quite deceiving, so always try to have a realistic perspective on things.Great people still need coordination and leadershipOne mistake most leaders make is to assume that great people know what to do and do not require guidance. But great people can do exactly what they know how to do and still go off in very different directions. So the job of a business leader is coordinating all your people’s efforts, including the great ones.There’s a difference between having a company culture and imposing oneThere’s a fine line between a company culture built around the leader and imposing the leader’s culture on employees. Understand where to draw the line.Actionable adviceDo a little more homework before you get started. Once you get started, be upfront about expectations and processes and make sure everybody understands each other’s expectations.No. 1 goal for the next 12 monthsShane’s number one goal for the next 12 months is to see his commercial development projects get a little farther along. [spp-transcript] Connect with Shane TorresLinkedInInstagramFacebookWebsiteAndrew’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: Tyron Giuliani is an Australian entrepreneur who moved to Tokyo on a whim, where he went on to work with 67 Fortune 500 companies to build their management teams in Asia. He hosted Vice President Al Gore in Japan after winning his Nobel Peace Prize.STORY: Tyron got introduced to two celebrity business moguls by his big shot CFO friend. The two were starting a new company and asked Tyron to invest. He said yes without understanding what he was getting himself into. The two partners did not see eye to eye businesswise, leading to the company’s death before it even got off the ground. Tyron lost $300,000 in the process.LEARNING: Don’t let ego mislead you into getting into a bad investment. Do not be blinded by the upside and let an expert do your due diligence for you before you invest. “Unless you truly know what you’re doing, have another person’s eyes look at your deals.”Tyron Giuliani Guest profileTyron Giuliani is an Australian entrepreneur, but after being injured and suffering a permanent disability while in the Australian Army, he left Australia on a whim and moved to Tokyo, Japan.He had one suitcase, no friends, no family, and no Japanese language skills whatsoever.Fast forward 22 years and he is still there, speaks Japanese like a 3-year-old, but has co-founded, founded, and partnered in three 7-to-8 figure businesses.He started his first business servicing weddings as an ordained minister, and that business provides wedding dresses to over 420 weddings a month.To working with 67 Fortune 500 companies to build their management teams in Asia, hosting Vice President Al Gore in Japan after winning his Nobel Peace prize, to opening a K-pop event space in Tokyo.And since 2017 coaching other B2B business owners his unique methods of transforming LinkedIn from a stale, resume profile approach to recreating your own personal mini-website in LinkedIn and using a sales funnel there to land clients.Worst investment everWhen Tyron first went to Japan, he started out teaching English. He soon realized that the country had a lot of potential, and so he was always on the look for opportunities.Tyron met a guy who was a CFO of a very famous Italian luxury brand, and they became good friends.Fast forward many years, Tyron was a partner in a recruitment firm. He got in contact again with his friend. At the time, he was the CFO of Virgin Cinemas in Japan, and he was friends with Richard Branson and was quite a well-known guy.Investing in the who is who in businessTyron later got a call from his CFO friend saying that he had an investment opportunity for him. Knowing how much influence his friend had, Tyron was indeed interested in the opportunity. He met with the CFO, and he introduced him to his old boss, who was a big shot in the business world. He had partnered with an award-winning creative director. Investing in two big shots sounded like a good plan. Tyron was too excited to have been considered for this opportunity.The two guys were starting a nutraceutical company, and the plan was to get it to $300 million. Tyron was entirely sold to the idea, and so he invested $300,000 into the company. The two founders’ previous success blinded him, and he believed they would turn the company over in probably six months.Not as promising as it lookedThings did not go as Tyron had predicted. The two partners were burning through the cash, and they kept clashing about how to do things. One was very much about testing, while the other was about creativity.Tyron kept the faith, and he believed that the two partners would sort this out and make it work. But he never got involved. He never asked why progress was so slow or what the plan was. Tyron was just happy to be sitting at the big boys’ table.Running out of money and businessThe partners blew through all the money they had. They decided to get a round of funding, but as they went out to look for investors, the global financial crisis hit.All the investments dried up; the partners could not work together as much as they were friends at the start. They just closed and ceased operation. And there was Tyron with $300,000, now worth zero. That was a kick in the guts. Had he put that same money in Amazon stock, it would be worth $19 million today.Lessons learnedDon’t let ego mislead you into getting into a bad investmentDo not let the thrill of hitting it big get in the way of making sound investment decisions.Seek advice from an expert before you investIf you are not an expert in the area you are investing in, find someone to do the research and due diligence for you.Andrew’s takeawaysDo not be blinded by the upsideLook at everybody and everything equally. Do not trust any situation with your money blindly. Ensure that you do all the necessary research because there is a lot to look into before you give anybody your money.You have the right to know anything about your investmentWhen it comes to your money and your life, you have a right to ask questions. When investing in anything, ask as many questions about it as you want until you are satisfied that you know everything that you need to know.Failure in business is not illegalIf you find yourself in a situation where your business is falling apart, and you’ve got to exit it, just do it without turning to fraud or anything illegal. Be honest with the situation. If you started a business, did your best, and it did not work out, know that this is normal; it happens to the best of us.Actionable adviceHave two extra sets of eyes that are not involved in the deal to do the due diligence and give you an assessment.No. 1 goal for the next 12 monthsTyron’s number one goal for the next 12 months is to bring three to five staffing agencies together, consolidate them into one, make it better, and then sell it a year or two later for a nice figure.Parting words “Set aside your ego and know that if a deal looks too good to be true, it is probably. Always get someone to look over stuff for you.”Tyron Giuliani [spp-transcript] Connect with Tyron GiulianiLinkedInTwitterWebsiteAndrew’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: Russ Johns is a producer at The Pirate Syndicate. He helps people be SEEN, be HEARD & TALKED ABOUT... using LiveStreaming Media.STORY: Russ spent 15 years dedicating all his time to his job at the expense of his family and health. The company went through a merger and acquisition, and Russ’s role was made redundant, leaving him jobless. Russ’s biggest regret is spending so much time building someone else’s dream instead of his.LEARNING: Build skills that are marketable outside of work. Build your dream, not someone else’s. Invest in what interests you and brings you joy the most. “The worst investment is the one that you do not make. The time that you do not invest in what you are doing.”Russ Johns Worst investment everInvesting everything in his job at the cost of his family and healthRuss invested 15 years in an organization that he thought was amazing. He invested a lot of time at the cost of his family and health. He truly loved his job and had no desire to stop doing it.Getting phased outAs fate would have it, the company went through a merger and acquisition, and Russ’s position was no longer needed. And just like that, he had to leave an organization he had dedicated his life to for 15 years.The loss of his job was a tragedy that changed Russ’s life completely. It took him a while to recover from it.Picking himself upRuss had no choice but to pick himself up, recover from the loss, and come back in full swing. He had to learn new skills to keep going, but this time around, Russ decided to dedicate his time building his dream and not someone else’s.Lessons learnedDo what interests you and brings you joy the mostExplore and understand some of the things you might be interested in and learn about them. Learn what brings you joy and gratitude.Build your dream, not someone else’sBe cautious about how you spend your time and about investing in other people’s dreams. Instead, work on your own dreams.Add value to your life every dayAlways wake up with gratitude and create something of value every day. Be okay with who you are and where you are. As you go forward and create something new, you become something new.Andrew’s takeawaysTake advantage of the opportunities in front of youThanks to the internet age, you can take advantage of numerous tools and opportunities to build yourself. Make sure that you do.Build skills that are marketable outside of workYou have got to build a skill that is marketable outside of your job. Just devote a couple of hours every weekend or throughout the week to learn a new skill. If you do, you can secure your future income and happiness.Actionable advicePay attention.No. 1 goal for the next 12 monthsRuss’s number one goal for the next 12 months is to grow The Pirate Syndicate and help over 100 people produce their own shows, their own events, and their own activities to be seen, be heard, and be talked about.Parting words “Kindness is cool, smiles are free, and you enjoy the day.”Russ Johns [spp-transcript] Connect with Russ JohnsLinkedInTwitterFacebookWebsiteAndrew’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: Jonaed Iqbal is set on shattering the stigma associated with hiring people without college degrees. It is no surprise that he founded NoDegree.com, a platform with job listings that do not require college degrees.STORY: Jonaed invested $800 in Bitcoin when he was in college. He was lucky enough to sell when the price was high and just before it crashed. Fast-forward to 2017, Jonaed decided to use his credit card to invest $20,000 in several cryptocurrencies. He lost it all two months later. He is still paying the credit card debt.LEARNING: Only invest what you can afford to lose, especially when buying crypto. Start small and invest 70% of your money in Bitcoin and 30% in the top three cryptocurrencies at the time. “Only invest what you can afford to lose and go to sleep at night without worrying.”Jonaed Iqbal Worst investment everBuying crypto by accidentJonaed bought his first Bitcoin by accident. A friend who was sort of into shady activities needed some money. He told Jonaed that he had some Bitcoin that he was selling at $34.5. Jonaed called another friend, and together they bought 35 coins.This was during the first crash of Bitcoin. Fortunately, Jonaed saw the rise coming. The price rose to $40, then $50, then $70 bucks, and at $120, they decided to sell.Regulations make it hard to sellJonaed and his friend were trying to figure out how to sell their Bitcoin, but there were many hurdles at the time. Fortunately, they managed to create an account to sell their coins. As soon as their account was verified, the price shot up to $260. They sold their coins immediately. Then Bitcoin crashed three hours later.Jonaed made $4,000 from an investment of about $800. He used the money to clear his credit card bills and other student bills.The second boomAround December 2017, Bitcoin started going through a boom. Jonaed decided to invest again; this time, he was going to go big. At the time, you could buy Bitcoin using a credit card, and Jonaed had a decent limit amount of about $20,000.Jonaed figured that he would either become a millionaire or lose some money, but either way, he would go big. He ended up buying cryptocurrency worth $20,000.Losing it allA month or two later, crypto crashed. Jonaed had invested in several coins, two of them were useless coins, and the rest still lost him money. Jonaed is still paying his credit card debt.Lessons learnedOnly invest what you can afford to loseDo not go making big moves if you cannot afford to lose the money. Invest small even if you think you will hit it big and consider if you can afford to lose the money you are about to invest.Andrew’s takeawaysStart small when buying crypto for the first timeIf it is your first time investing in crypto, start with a small position between zero and 3% of your total assets. Then from there, you may decide to get bigger and better.Diversify your crypto portfolioWhen buying crypto, do not just settle on one. Buy Bitcoin with 70% of your money. Then find the three best cryptos to invest in and use the other 30% for the three.Actionable adviceBe careful, and sleep on it. Think about if the investment does not go your way, how will the loss affect your life? How much loss can you handle, 50%, 90%, or even 100%?No. 1 goal for the next 12 monthsJonaed’s number one goal is to grow his podcast listenership base and increase traffic to his website. He would also like to pay off his credit card debt in the next couple of months.Parting words “Crypto is hot right now. So be careful not to make the same mistake I did.”Jonaed Iqbal [spp-transcript] Connect with Jonaed IqbalLinkedInTwitterWebsiteAndrew’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: Patrick Metzger is the CEO/Founder of PM and Associates and one of less than 450 Professional EOS Implementers in the world. Patrick and his team help businesses get the most out of their organizations and people by helping get everyone on the same page and executing the company vision, as well as by creating healthier, more cohesive, and higher functioning leadership teams.STORY: Patrick grew up around teachers and coaches. He believed that he, too, was meant to be a teacher. He went to school and earned two teaching degrees, and went on to teach for 11 years. Patrick had this nagging feeling that he was not doing what he was meant to do with his life. He went on a journey to find his true calling, but it was not until he decided to find a mentor that he could see it and reach his full potential.LEARNING: Find a mentor or a coach who will challenge you and pull out the best of you. Dive deep into your past to know yourself and what you are meant to do with your life. Do not be afraid of obstacles or to quit and start over. “Double down on yourself. If you’re going to roll the dice, roll it on yourself.”Patrick Metzger Worst investment everPatrick grew up around influential leaders, coaches, and teachers that he admired. Both his parents were huge influences in his life, being teachers. Patrick went to college dead set on the idea that he would be a teacher and a coach, as that is what he was familiar with.Settling straight into his childhood dream jobWhen Patrick got out of college, he had two teaching degrees. Then he got his first teaching job and was a head football coach. He absolutely loved it. He truly believed that this is what he wanted to do.Maybe I am meant for moreFast forward eight years, Patrick started questioning things. He started asking if teaching was all he was meant to do. He started feeling a calling to do something else. He did not know if it was teaching that he needed to leave or it was just the environment of the current school that he needed to leave.Patrick ended up leaving the school he was at and went to a different one. It was like a brand new start. New coaching job, new environment of teachers, students, and new school district. He loved it here.Itching for a greater challengeInto Patrick’s third year at the new school and his 11th year of teaching, he started feeling like he had slammed into a brick wall. That brick wall woke him up to the reality that teaching is not what he was supposed to be doing for the rest of his life.Patrick quit his teaching job and took a job as an executive recruiter and did that for about six months. He still felt unsettled, and so while he worked as a recruiter, Patrick started putting together plans to develop an online health and wellness coaching and consulting business.Patrick got approached to manage a gym, and he saw this as a stepping stone. So he left his recruiting job, took the job as a gym manager, and did that for nine months. Then he got fired.Rebuilding from scratchGetting fired was a shocker for Patrick, and it threw him into the deep end of the pool. He had to swim or sink. Luckily, two months before that, Patrick had launched his online business. Now he was tasked with deciding whether to roll the dice on himself again and go into his online business full time or go back to teaching. He chose to concentrate on his online business.Time to find a mentorThree months after launching his business, Patrick realized he would have trouble scaling his business. He decided to seek guidance from a business coach out of the San Diego area. His name is Peter Scott; he specializes in online automation for businesses. He did not know how he would pay the coach, so he put his fees on a credit card, something Patrick never does.The coach was an absolute game-changer for Patrick. Within two weeks, the coach had already paid for himself with just a little bit of advice.Finally doing what he was meant to doOne of the best things for Patrick while working with the coach is that he finally got to see what he was truly meant to do. The coach made him realize that he loved health wellness, he loved teaching and coaching, and if he merged the three, he would find his true calling.Within months, Patrick, with his coach’s guidance, transitioned his whole business into high-performance coaching. This got him into working with companies, and he started doing some keynote speaking.Patrick happened to run across the EOS framework while reading the book Traction by Gino Wickman. He was astounded by the framework. He started looking into it, and finally, he was convinced that this right here was what he was meant to be doing, and indeed it is what he is still doing.Patrick’s biggest regret is that he spent more than 11 years doing something that was not meant for him.Lessons learnedTake a trip to the past to know yourselfYou do not get to know what you are meant for until you dive into the past and examine yourself. Look at your self-limiting, your strengths, your weaknesses, what you love and that you do not love. Then ask yourself how you can take all those things, double down, and invest in yourself.Do not avoid the obstacles in your lifeWhenever you are going through obstacles in life, blaze right through them instead of avoiding them. You will not reach where you are supposed to go, personally or professionally, if you are afraid to walk through those tough times. These obstacles will strip away everything you are not about and truly reveal to you who you are, what you care about, and what you are meant to do.Andrew’s takeawaysDo not be afraid to quitTimes may be demanding right now, and you do not want to quit without giving it a lot of thought, but when circumstances aren’t right, do not be afraid to leave and try something new. You have got so much more to give.Actionable adviceFind a mentor, or a guide, or whoever it may be that will pull the best out of you. Whether it is a coach personally for you or a coach professionally for your business, find one that will challenge you and cares about you.No. 1 goal for the next 12 monthsPatrick’s number one goal is to impact people by teaching them, showing them, and empowering them to get more out of themselves or their business.Parting words “Double down on yourself; you can’t go wrong.”Patrick Metzger [spp-transcript] Connect with Patrick MetzgerLinkedInTwitterFacebookWebsiteAndrew’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 mentionedGary Vaynerchuk (2009), Crush It!: Why NOW Is the Time to Cash In on Your PassionRyan Holiday (2014) The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph

BIO: Nina Sharil Khan is the Founder & CEO of PopCon, International Speaker & Host of the #JustLanggar PopCast live show. Nina is also Marketing in Asia’s Top 100 Inspirational LinkedIn Icons for both 2019 & 2020.STORY: Nina quit her job to start selling unit trusts. In the process, she met a hedge fund manager who recruited her to his fund, which she blindly joined and started selling to her friends. The fund ended up being a Ponzi scheme.LEARNING: Do your due diligence before investing in anything, and be careful of scams as they always come in very appealing packaging. Always diversify your risk. “Invest with money that you think you do not mind if anything happens to it.”Nina Sharil Khan Worst investment everNina was a scholar with one of the biggest oil companies in Malaysia. She happened to take this course that taught her that she could do anything she wants. So she was high on that feeling and decided to quit her job and sell unit trusts. Nina had seen people make money from selling unit trusts, and she thought she could do it too.Making money selling investment plansNina started selling unit trusts, and in the process, she met a fund manager who enrolled her into his fund. Nina was sold to his financial solution instantly.Nina sold this product to people, and it worked. She sold the product to all her friends, and they bought it because they trusted her. It was a great product, and it gave a monthly return. Nina was making a lot of money from the monthly commissions.Alas! It is a Ponzi schemeNina continued to sell and make money from the hedge fund for about two years when it went bust. It turns out it was a Ponzi scheme disguised as a hedge fund.The realization that she had been duped was tough on Nina. She felt ashamed that she had sold this fake investment to people who trusted her. Even though her friends do not blame her, she still blames herself for being so naive.Lessons learnedFind out about the regulations around what you want to invest inAlways research your investment. It may sound good, and other people may be making money from it, but even though the investment is good, there might be country regulations that can come in and stop it. If this happens, then the investment will not serve you because your money will get stuck.Diversify your riskYou do not want to put everything in one basket. Be mindful of how you invest. Even though an investment sounds excellent, put in money that you are okay losing should it go bust. You want to maybe put aside 10% or 20% as your play money instead of pumping in 50% of your savings into one investment.Do not stop trusting yourselfAs an investor, when you make a poor investment decision and lose your money, do not be too hard on yourself because this could happen to anybody. Do not let one wrong decision stop you from trusting yourself to make better decisions in the future.Andrew’s takeawaysScams are always very appealingScams will come at you in an appealing way; you’re promised to earn money, and it is low risk. But do not let this blind you to the fact that it is a scam. A Ponzi scheme pays old investors with money that it is raising from new investors. That is why they eventually run out of money when they cannot get any more money in.Do your due diligence before you invest your moneyAlways do your diligence before investing your hard-earned money to make sure that you are not investing in a Ponzi scheme.Actionable adviceTrust yourself. Do not put your trust in somebody else.No. 1 goal for the next 12 monthsNina’s number one goal for the next 12 months is to grow her course and community to reach more people in 2021. She also hopes to have at least 5,000 members in her free Facebook group.Parting words “Trust yourself, and when something bad happens, know there is something for you to learn and that you will come out stronger and bigger than ever.”Nina Sharil Khan [spp-transcript] Connect with Nina Sharil KhanLinkedInTwitterInstagramFacebookWebsiteAndrew’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: Dror Tamir is a serial food and nutrition entrepreneur with a passion is to improve the health of children and families through better nutrition. He is the CEO & co-founder of a startup, Hargol FoodTech, the world’s first commercial grasshopper protein producer.STORY: Dror was looking for investors when one particular one showed interest in being the lead investor. He was super excited about this opportunity so much that he put his entire focus on this investor. After eight months of due diligence, the investor refused to follow through with their promise leaving Dror with zero investment.LEARNING: Do not chase just one investor when raising capital; keep your options open. Time is money, especially for a startup with limited resources so use it wisely.  “As an entrepreneur, you have to be the most optimistic person on the planet and believe that your startup is going to succeed.”Dror Tamir Worst investment everRaising capital for his startupDror is always looking for suitable investors, and in one of his previous rounds of raising capital, his company received a lot of interest from investors. One particular investor approached him and said they wanted to be the lead investor. From day one, they said they would invest 70% of the funds that Dror needed.Opening up his company to strangersDror was excited about this opportunity. These were the guys that he wanted to work with. Dror discussed the valuation, terms, and plan with them, and then they went into due diligence, the longest due diligence he ever had. They did eight months of due diligence.Part of the due diligence meant that Dror had to answer hundreds of questions of every aspect of the company. Another part of that due diligence included discussions with experts that the investors hired and got into the company’s heart. This made Dror feel very uncomfortable because it meant he had to share delicate company information with persons that had no relation with his project and who could even become competitors. But Dror needed the money, and so he had to comply with the due diligence process.Show me the moneyAfter eight long months, it was time for the investor to show Dror the money. The investor said they would invest the funds that they promised but only a third of the valuation they discussed. This was unacceptable for Dror.It became apparent that the investor had prolonged the due diligence process to put pressure on Dror. Things got even worse because while the due diligence took place, Dror had received interest from other investors.But because this particular investor was supposed to be the lead investor, Dror never negotiated terms with other investors. He just told them he had a lead investor, and any other investor would enjoy the same terms as the lead investor. They signed the investment documents and waited for Dror to finish the due diligence.Losing it allAfter the lead investor went back on their word, Dror went to the other investors and asked them to move forward with what they had agreed on. The result was horrific. The investors pulled their agreements and decided not to invest. Dror was left with nothing.What irked Dror most was the eight months his company lost during the due diligence process that yielded nothing in the end.Lessons learnedHave a devil’s advocate to help you deal with investorsDo not engage investors all on your own. Bring in another person from your team who will be your devil’s advocate. A person that will tell you when you are just wasting your time. Someone who will not be afraid to ask the hard question that you personally cannot ask.Do not chase investors too much; otherwise, you will chase them awayDo not apply too much pressure when chasing investors. If they feel too pressured, they will not invest or offer you a deal that you will not accept. So think about how much pressure you want to apply, and take your time. If they do not come back to you, they probably do not want to invest.Andrew’s takeawaysTime is indeed money for startupsWhen it comes to a startup that has very limited resources, time is money. If you get caught up in something that takes you away from the business, it is like spending money. Wasted time becomes wasted money.Take care of your emotional runwayThere is an emotional runway that is the confidence that people working for you have in you to make the idea work, get the funding, bring it all together, and get the results. As a leader, you need to know when you are spending too much energy on other things instead of focusing on the business.Actionable adviceBe more open, listen more, understand what the messages are, and if necessary, move on to the next potential investor. This will save you a lot of money, much more than you can get from a non-committal investor.No. 1 goal for the next 12 monthsDror’s number one goal for the next 12 months is to sign a significant joint venture with one of the leading food producers worldwide and bring his products to one of the largest markets.Parting words “Do not wait for the perfect moment. Just go out and do what you want to do.”Dror Tamir Connect with Dror TamirLinkedInTwitterInstagramFacebookWebsiteAndrew’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: Marko Höynälä is the Founder and CEO of Kipuwex Ltd and has invented three game-changing IoT products. Kipuwex is a medical device that wirelessly and continuously measures a person’s biomarkers which can then be accessed by health care professionals from anywhere in the world.STORY: Marko jumped blindly into an opportunity to partner with a Pakistani company to distribute his medical device. The company ordered a considerable amount of devices but never paid for them.LEARNING: Do not trust people or businesses blindly. Building trust is an essential part of a business, and when it is broken, the business breaks down too. Be confident to go out of your comfort zone. “Do your homework on how foreign markets operate. Do not just go there blindly.”Marko Höynälä Worst investment everMarko had been actively seeking investors and customers of Kipuwex outside of Finland, his home country. Coincidentally, Marko was contacted by a company from Pakistan that was very eager to have this kind of device because it can do more than most of the other devices and is more affordable.He decided to go to Pakistan and find out what the market had in store for his company, despite the security risk that the country is. Marko spent some time with a company that wanted to do sales and distribution of Kipuwex.Getting into a foreign partnershipMarko spent a week with the Pakistani company. The company introduced Marko to about five hospitals, and he got to demonstrate Kipuwex to them. The hospitals were eager to buy the device.Marko and the distribution company got all the agreements and paperwork ready, and they agreed to partner and distribute Kipuwex in Pakistan. The company even ordered some devices. Then Marko returned to Finland and sent the devices to Pakistan.The company did not pay upfront for the devices; they promised to do so the next day. Marko is yet to receive the money to date. The company gave a shoddy excuse claiming that the problem was with Marko’s bank account. Marko lost a considerable sum of money in the deal.Lessons learnedDo not trust people blindlyDo not trust people or businesses blindly. Find out as much as you can about them before partnering with them.Cultures are different around the worldPeople are not necessarily similar in other countries. Just because people do business in a certain way in your home country does not mean it will be done the same elsewhere.Be confident to go out of your comfort zoneIf you want to be a successful entrepreneur, you must be bold enough to get out of your comfort zone and try new things.Andrew’s takeawaysBuilding trust is an essential part of a businessTrust is the glue that keeps a business together. If that trust breaks, the business breaks down too.There is no shortcut to building trustTrust is built over time. You get to see how a person or a relationship performs over time and get to know whether they are worth trusting.Actionable adviceTo be successful as an entrepreneur, you must go out of your comfort zone. But, first, do thorough research and seek guidance from those who have been in your area of business before.No. 1 goal for the next 12 monthsMarko’s number one goal for the next 12 months is to focus on the next round of investment that his business needs to deliver products to customers around the world.Parting words “Do not replicate my mistakes.”Marko Höynälä [spp-transcript] Connect with Marko HöynäläLinkedInAndrew’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