My Worst Investment Ever Podcast

Coonoor Behal is the Founder & CEO of Mindhatch, a firm that specializes in getting companies better results with creativity through Design Thinking, Organizational Improv™, Innovation Facilitation, and Diversity & Inclusion. She is also the author of I Quit! The Life-Affirming Joy of Giving Up, which will be published by New Degree Press in April 2021. “If you plan to do your business for three or more years, then do not skimp on your website. Make it great and let it help you.”Coonoor Behal Worst investment everGoing out on her ownCoonoor quit her job at Deloitte Consulting to start her own company, Mindhatch. She immediately went into a bootstrap mode and cut out all these things that were personal expenditures.Taking the bootstrapping mentality into her new business ventureCoonoor knew what she wanted to be doing for clients, but she did not know how to go about it, mainly because she was so strapped for cash. Coonoor was looking for all possible ways to build her business without spending a lot of money.One of the things Coonoor decided she needed was a website. Again, she went into the bootstrapping mentality of not wanting to spend much on this website. Her expectations for the website were low, and she thought this was a smart business decision. She went for a static three-page website with simple details of who she is, what her niche does, and contact details.  She paid about $1,000 for that.Time for a new websiteCoonoor’s business started to grow, and she started wanting to do more. Now she was a B2B business, and she needed a website that could do a lot more for her business, such as lead generation, answer questions that people are curious about, and more.Struggling to find a reliable web designerCoonoor decided it was time to improve her website, and she started looking for someone to work with. Unfortunately, this became the worst thing she experienced since starting her business.It took her a really long time to find a good web designer who eventually built the website she should have gotten from the beginning. She learned the hard way that cheap is indeed expensive.Lessons learnedWork on a great business website from the start to save moneyYou will save yourself money, time, and so much heartache and annoyance if you engage a good website design company from the start. Focus on building a professional website as you start building your business so that it can grow with your business.Andrew’s takeawaysBuilding a great website is hard but with the right web design company, you can do itA lot goes into creating a business website that customers will love and find useful. This is an expensive venture that most small businesses prefer to defer until they make a lot of money. However, when you find the right web designer, you can work together to create something great from the very start.Do not let insecurity or fear of failure hold you back from going the whole nine yardsMost new entrepreneurs have a sense of insecurity and fear that their businesses will fail and, therefore, shy away from investing in essential business tools such as websites. Trust yourself and show the world what you are made of.Actionable adviceThink about how long you want to do the thing that requires a website. If you are committed, and you know it is going to be something you will do for three or more years, then definitely invest in that website upfront.No. 1 goal for the next 12 monthsCoonoor’s number one goal for the next 12 months is to sell many books once her book is launched in April. She also plans to do keynote speeches and give author and book talks at organizations and conferences.Parting words “Just try it out and experiment. Most things in life are not as risky as you think they are.”Coonoor Behal [spp-transcript] Connect with Coonoor BehalLinkedInTwitterBlogWebsiteAndrew’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 mentionedDonal Miller (2017), Building a StoryBrand: Clarify Your Message So Customers Will Listen.

Mario Martinez Jr is the CEO and Founder of Vengreso. He spent 86 consecutive quarters in B2B Sales and Leadership. He is one of 20 sales influencers invited to appear in the Salesforce.com documentary film “The Story of Sales” launched in 2018 and was named 2019’s Top 10 Sales Influencers by The Modern Sales Magazine. Mario is the host of the popular Modern Selling Podcast. “We always say invest in people, and that is true 100%. But you also need to know when it’s time to not invest in a person.”Mario Martinez Jr Worst investment everWhen Mario formed Vengreso, he started looking at how he could bridge together the world’s largest modern sales training company by amassing multiple companies underneath one corporate structure through a mergers and acquisitions strategy.Mario pitched 14 different business leaders. He ended up getting ten partners that all said yes to his idea. Two, however, literally dropped out the day before they signed all the paperwork.The big mergers and acquisitions ideaMario’s idea was to have a private equity roll-up where you bring all the companies underneath one corporate entity. Everybody’s assets, IP information, and revenue are all rolled up into one centralized structure. And that is what he did.Mario and the eight partners created a large entity with a lot of reach and brand equity. It went on to take the market by storm.Too much for someWhile the idea was a perfect one, Mario overlooked some things when pitching to business owners. He got excited because people welcomed his proposal. So instead of cherry-picking the people to partner with, Mario accepted anyone who wanted in.The merger ended up a total disasterBecause of this, the merger ended up becoming a total disaster from a personality standpoint. The merge ended up being too scary for some of the partners, and so along the way, they left. Others were exited out of the firm because there were just too many differences causing a rift between partners. Now only four of the new partners are left in the firm.Spending time trying to make relationships workMario spent so much of his time trying to make the relationships work. He saw the clash in personalities from the start, but he just let it go thinking that the issue would naturally resolve itself over time. However, the differences just got worse, and Mario had to finally have the difficult conversation of exiting some partners, something he wishes he had done years earlier.Lessons learnedNormalize dissolving partnerships that are no longer workingIf you are in a partnership and find yourself disagreeing all the time, do not leave disagreements to chance. If the relationship keeps getting worse and you are arguing over the same thing all the time, you need to consider dissolving the partnership. Have an honest discussion about it and call it quits if it is just not working.Do thorough due diligence before getting into any mergers and acquisitionsBefore you get into any mergers and acquisitions, do your due diligence to figure out who is the best partner for you and what they will bring to the table. Do not let the excitement of a new venture cloud your judgment.Andrew’s takeawaysNot everything that experts do will work for you tooJust because experts are doing something you are interested in does not mean that it is the right thing to do or that it is going to work for you. It does not mean it is not going to work, be cautious of doing things blindly just because others are doing them.Not every disagreement needs to be resolved with a confrontationYou can resolve disagreements amicably through nonconfrontational communication and conflict resolution.Actionable adviceWhen getting into partnerships, follow your gut. Also, be willing to have honest conversations with your partner/s regarding the progress of your collaboration.No. 1 goal for the next 12 monthsMario’s number one goal for the next 12 months is to double Vengreso’s growth from an employee perspective. He hopes to do this by hiring more people from underrepresented groups.Parting words “Just have fun.”Mario Martinez Jr [spp-transcript] Connect with Mario Martinez JrLinkedInTwitterFacebookYouTubeWebsiteAndrew’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

Elizabeth Buko is an author and Wealth Coach. She helps entrepreneurs improve their finances & start their wealth-building journey by changing the way they think about money from a faith-based perspective.Elizabeth has helped women eliminate tens of thousands in personal debt, start investing towards their financial goals, grow their net worth to multiple 6 and 7 figures, and let go of deep personal beliefs that limit them financially.She is the Founder of Wealth From Little, where she runs monthly wealth creation classes. She is married and has two young children. “Everything that we have right now is, in most cases, directly related to how we were thinking in the past.”Elizabeth Buko Worst investment everA hunger to be richAt 19, Elizabeth worked as an intern and hated not having enough money to live a comfortable life. She decided that she would be rich and started looking for ways to make money quickly.Elizabeth had heard about investing in the stock market. She had read in the news about people who had invested in stocks and were now millionaires. She wanted to be like them.Saving every penny she couldElizabeth would save every penny that she earned. She would only pay essential bills and save everything else. While her friends and sisters were going shopping, to the cinema, out for dinner, spending money, and having fun, Elizabeth would be left behind. She was literally saving every coin to invest and get rich in 20 or 30 years.Investing in the first option availableElizabeth tried to find information about investing in stocks, but she could not find any. She felt restless and like she was just wasting time sitting around waiting to find information while her savings could be making her rich.Elizabeth had saved about 4,000 pounds, so she decided to just do it. Elizabeth thought that all you had to do was pick a stock from a long list, put money into it, sit back, relax and wait for the money to start coming in. She picked a stock and put in 2,000 pounds. A couple of months later, Elizabeth picked a second stock and put in the rest of her savings.The elusive richesA few months later, the first company Elizabeth invested in started experiencing issues, and the stock lost value. The second stock was still doing well, and she was earning dividends.Fast forward six or seven years later, the company crashed. There was a recession, and the company did not survive it. Just before the recession started, Elizabeth’s money had grown to about 15,000. Then the company crashed, and she lost it all.Lessons learnedDo not let the fear of being poor lead you to your worst investment everThe fear of being poor and the desire to be rich can cause you to invest blindly with the hope of making a lot of money fast. You get so blinded by fear that you make decisions without clearly understanding how to invest as a beginner.Investing in the stock market is not a get rich quick schemeDo not go into the stock market thinking that you will get rich quick. If you want to grow your wealth, you need to do it right. Read up on investing in the stock market, seek advice on how to go about it, and get out of the mindset of getting rich quick.Andrew’s takeawaysInvestment is a serious business that needs more than excitementDo not invest just because you see other investors living lavish lives or get sucked into the media hype on investing. Investing is a serious business that can strip you of your wealth very quickly. So do not get into it blindly.Start investing with a portfolio of ten stocksIf you are going to start investing in stocks, then have about 10 of them. Not one or two, and not 20 or 30, or else you are just mimicking the market. The best way to go about it is to get an ETF or a fund that owns many stocks. This way, you will have a well-diversified portfolio.Actionable adviceGet some education and keep learning every day. No matter where you are, you need the education and information to get you to the next step.No. 1 goal for the next 12 monthsElizabeth’s number one goal for the next 12 months is to love 100 more women through Wealth from Little. She supports hundreds of women through free monthly calls. But now Elizabeth wants also to support more women one on one and give them the knowledge, the understanding, the faith, and the strategies to start building wealth and turn their financial lives around.Parting words “No matter what you are facing, you can do all the things you want. It is more than possible if you believe it.”Elizabeth Buko [spp-transcript] Connect with Elizabeth BukoLinkedInTwitterInstagramBlogWebsiteAndrew’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

AJ Wilcox is a LinkedIn Ads pro who founded B2Linked.com, a LinkedIn Ads-specific ad agency, in 2014. He’s an official LinkedIn partner, host of the LinkedIn Ads Show podcast, and has managed among the world’s largest LinkedIn Ads accounts worldwide.He’s a ginger and triathlete. He and his wife live in Utah, US, with their four kids, and his company car is a wicked-fast go-kart. “You can build a business out of being the best in the world at whatever you choose.”AJ Wilcox Worst investment everGrowing up, AJ had no entrepreneurship goals. He planned to leave college, get a job, and work his way up until he became the CMO or the CEO and then get into a fortune 500 company. And so AJ started his employment journey as a digital marketer.True love for Search Engine OptimizationAJ fell in love with Search Engine Optimization (SEO) and then Google ads. He remembers talking to the CMO on the very first day of his last job. AJ laid out all of his marketing strategies, not wanting to look stupid. The CMO told him that his strategies sounded great and gave him the go-ahead to execute them. But she also asked AJ to look into a LinkedIn Ads pilot that the company had started two weeks earlier.Not wanting to disappoint, AJ jumped into the LinkedIn Ads platform that he had never heard of before and did his thing. About two weeks later, a sales rep came up and introduced himself and told AJ that the sales reps were fighting over his leads. AJ looked through the leads, looked at their source, and every single one of them was from LinkedIn Ads.Losing his job suddenlyAJ continued to learn more about this platform and kept outperforming everyone. Soon, his company became LinkedIn’s highest-spending account worldwide.After working for the company for two and a half years, AJ’s boss walked into his office one Friday morning and informed him that he was being let go. AJ was so devastated. He had three kids and another on the way at the time.Finally getting the guts to start a businessAJ talked to his wife about his job loss, and they agreed he should find another one. Because he was highly skilled, it took him just a few weeks to find a new job. In fact, he had four job offers.But a small still voice kept telling him this is not what he was supposed to do with his life. AJ prayed about it, and eventually, he decided to start a business instead of going back to a full-time job. He has not regretted this decision to date.Lessons learnedStarting a business is less risky than you thinkMany people get stuck in their full-time jobs because they assume that starting a business is very risky. They do not understand that in the long term, a full-time job is riskier than going out on your own.Running your own business gives you more control of your time and lifeWhen you are your own boss, you get to manage your calendar and your life, allowing you to spend time as you wish.You do not need to be great at everything; you just need to offer valueWhen you run your own company, you are operations and finance and sales and marketing. You may not know how to handle all these functions well. Whichever one you are good at, use that to offer your customers value, and that value will come back.Andrew’s takeawaysSome businesses will be better than othersSome industries, some jobs, and some things, in general, are just easier to sell than others. So when you are thinking of the business to start, look for one that stands to brings you the most success.Get your customers first, even before you produce your productIf you’re going to start a business, make sure you get your customers first. Most people think about their product or service and focus more on the brand instead of getting customers. Customers are the ones who will make your company last.A job these days is riskier than a businessYou may be feeling safe to have a job and avoid starting a business because you are afraid of the associated risk. The truth is that a job these days is just shortfall risk. Do not be scared to start your own business, especially if you are really good at something. The risk is worth it.Actionable adviceIf you have dreams of becoming an entrepreneur, but you doubt you can do it and are afraid to take the leap, perfect your skill first. Do not be scared to go and work for someone else and get paid to train. All you have to do is make sure that you are hungry, and you are trying to develop some niche skill that makes you the best in the world at something.No. 1 goal for the next 12 monthsAJ’s number one goal for the next 12 months is to get all sales and operations off his plate so that he can do the stuff that he enjoys doing. This includes ad testing, data analysis, publishing, and speaking.Parting words “Think of opportunities that could take you into something that’s marketable. Start a side hustle, find ways of continuing to grow because you can never go wrong with being hungry and wanting to learn.”AJ Wilcox [spp-transcript] Connect with AJ WilcoxLinkedInTwitterWebsiteAndrew’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

During the COVID-19 lockdown, when most corporate training stopped, Michael Teoh led his company, Thriving Talents, to pivot from their usual corporate consulting, team building, and employee training practices to work with SMEs to help their sales teams market and sell better and to boost the performance of work-from-home staff.Since then, Thriving Talents have helped 150 companies generate 5-to-6-figure revenue within the initial 3-month lockdown period. They have also taught thousands of remote staff in Malaysia, India, Singapore, Australia and the US on “Mental Health & Productivity.”Before the COVID-19 pandemic, Michael accumulated 16 years of experience, working in various capacities as a Management Consultant, Branding Strategist, Outreach Campaigns Director, and Serial Entrepreneur. Michael has served Fortune 500 Companies across 41 countries. “As long as you’re willing. There will always be a path for a better future for you.”Michael Teoh Worst investment everMichael had just started his company, Thriving Talents, in 2013 when he made his worst investment ever. He was very fortunate when he first started. The company got big clients, including fortune 500 companies. Michael was bathing in grandiose and in the prestige of working with the world’s largest, most influential organizations, leaders, and brands. He was making progress in life.Investing in crude oilMichael was approached to invest in crude oil. The investment company told him that he could be the trader trading derivatives and commodities. But since he did not have millions of dollars to do that, they advised him to get into drilling the crude oil. Michael figured that made sense.What Michael was buying was land in Canada and the British Virgin Islands so that the investment company could extract crude oil out of it. The company promised Michael a fair return of 12% per year. The return sounded relatively little to Michael, but the company convinced him that anyone promising him 12% a month instead of a year was a scam.Too lucrative a deal, can my family join?Michael did the math quickly and realized that he would get $10,000 every month in return if he were to invest a million dollars. But because he did not have this kind of money, Michael called his grandmother and parents and asked them to join and put their entire savings into it. Though they were not computer savvy, they could not transfer funds luckily missed out on the opportunity.Getting his payoutTrue to their word, the investment company paid Michael his 12% per year for about a year. Now that he had received his money, they asked him to recommend them to other CEOs and friends. While Micahel wanted to share this excellent investment plan with other people, for some reason, he didn’t have that chance to be active and to be serious in promoting it to his inner circle.The cat and mouse games beginOne and a half years later, the company stopped paying. Michael asked them about it, and they told him not to worry; it was just a minor problem with the transaction. Because they had built Michael’s trust for an entire year, he allowed them to pay him in the next six months. Then after six months, they just disappeared.A con game played so wellIn the one and a half years that the company was paying Michael, they held regular meetings. He was invited to go to their posh office, and they would show him actual videos of them going to the site in Canada and the British Virgin Islands.He would see them purchasing the equipment, the drills, and interviewing some chief engineers representing actual oil and gas companies. They even had letters from local governments, acknowledging that the company would be mining crude oil. It all seemed so believable.Accepting that he had been scammedIt was only after the company stopped paying that Michael realized that things were amiss. A group of investors who got scammed about $70 million came together, hired lawyers, and went to regulators. They found out that all those documentations were forged. The land in Canada belonged to other projects by companies that had nothing to do with this investment project. It was all just for show.When the group of investors took the scammers to court, they told the group that it was not rich enough to beat them, and the company would keep hiring the best lawyers or bribe its way through this. The investors, Michael included, decided to let it go and accept that they had been scammed, but the best thing was to move on instead of a draining never-ending court battle.Lessons learnedLearn how to love yourself, especially after you have been scammedIf you ever get scammed, give yourself a break, and just love yourself. Appreciate yourself for being so strong and resilient. Losing money is not worth taking your own life or getting involved in any crimes. Just give yourself a chance, and remember that we all make mistakes. Learn from this mistake and move on.Verify and fact-check information before you sign off on any investmentBefore you sign up for any investment, do background checks. Check up on the investment company, go through reviews, and fact-check every information they give you.Do not involve your family in your investment venturesNo matter how good the investment is, do not involve your family and loved ones. This way, if something bad happens, at least you will bear the brunt of that problem on your own and not include anyone else in the problem.Andrew’s takeawaysBeat investment scams by doing thorough researchScammers have become very smart and will often cover all their bases. To beat them, you have to dig deeper with your research. Research is not just reading and digesting; whatever someone gives you.Good research involves seeking out opinions of a third party that is unrelated to the people selling the investment idea to you. If you are researching a company and thinking about investing in it, talk to one of their customers or suppliers and see what they have to say.Speak out if you suspect you are being playedThese types of investment scams often use shame and embarrassment as tools to take people’s money, knowing that the victims are not going to say anything. So if you suspect that you are being scammed, speak out.You will lose money just as you are going to make it. That is just lifeWhether to scammers or an investment that has gone bad, if you lose money, remember it is only money. In life, you are going to win and lose over time. Losing money is a tragedy, but you can earn it back and get on with life. So do not beat yourself up too much when you lose money.No. 1 goal for the next 12 monthsMichael’s number one goal for the next 12 months is to expand how he can help businesses, large corporates, and small to medium enterprises worldwide.Parting words “A lot of people talk about how successful they are. But I think there are many more lessons we could learn from failures.”Michael Teoh [spp-transcript] Connect with Michael TeohLinkedInTwitterFacebookInstagramYouTubeWebsiteAndrew’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

At the age of 23, Michael Brody-Waite was a full-blown drug addict. Every day he drank a fifth of vodka and a twelve-pack of beer, he smoked two packs of cigarettes and more weed than any human should, and he did whatever other drugs he could get his hands on.He had been kicked out of college, fired from his job, and evicted from his apartment. He had no money and no home. He was throwing up blood and believed he would be dead before his thirtieth birthday.Then, on September 1, 2002, after running out of options and fearing death, he checked into rehab, entered recovery, and has been transforming himself every day since.Michael’s TEDx Nashville YouTube video, Great Leaders Do What Drug Addicts Do, is the number one talk in TEDx Nashville’s history. It has been seen by 1,000,000+ people in 25+ countries and provides insight into his seventeen-year journey from addiction and near homelessness to successful entrepreneurship.This talk sparked the #MaskFreeMovement that brought awareness to Michael’s Mask-Free Program, built on three principles inspired by his recovery, showing leaders how to achieve balance, reclaim energy, and thrive in work and life.Michael is an acclaimed speaker, Inc. 500 entrepreneur, award-winning, three-time CEO, a leadership coach, and author of Great Leaders Live Like Drug Addicts: How to Lead Like Your Life Depends on It. His accomplishments include being named a Most Admired CEO, named to the Top 40 Under 40, and is recognized by the Nashville Chamber of Commerce as Healthcare Entrepreneur of the Year. “If you’re suffering right now, the worst thing about you can be the best thing about you.”Michael Brody-Waite Worst investment everMichael had always wanted to be an entrepreneur. And so, at the height of the US recession, he decided to max out his credit card, drain his 401k and blow his savings to start a company. The company Michael started was called Inquicker, a platform that lets patients schedule appointments online. At the time in the States, 99% of healthcare appointments were made over the phone.Michael started the company with his partner a year after getting married. They were bootstrapped and became quite successful and ended up being an Inc 500 company. The company grew 20,000% in six years.Hiding his weaknesses so wellAs his success grew, Michael also became quite good at hiding his most significant weaknesses. He had gotten good at telling people that he was a recovering drug addict. But when he started being recognized as a successful CEO, the temptation to hide his weaknesses grew.Michael had always told his story as the homeless drug addict who beat his addiction and becomes a huge success. However, he did not feel like the successful man the world saw him as. Michael was, in fact, struggling to be a great leader.His world starts to crumbleIn 2013 Michael got blindsided by two of his most important relationships. His business partner decided to take his equity away and tried to get him unseated as CEO of their company. At the same time, his marriage was in turmoil, and his wife wanted to file for divorce. While Michael was good at admitting that he was a drug addict, he was bad at admitting how much he was failing to navigate both of these issues.Failing as a leaderWith these two issues hanging over Michael’s head, his role as a leader suffered. Suddenly, this voracious leader who cared about his people was gone because he did not know how to face his team. Whenever he would be in business meetings, he would put this mask on, pretending that everything was okay because that is what the CEO of any 500 company does.Trying to handle his issuesMichael had suffered for too long, so he decided to find a middle ground with his wife and partner. He signed a marital dissolution agreement that he and his wife had agreed on. Michael’s wife kept trying to take a large part of his equity in the company, but he successfully convinced her to let him buy her out to keep the company’s equity.After settling things with his wife, Michael and his partner met with investment bankers to put the company up for sale. Michael asked one of the investment bankers what he thought the company was worth, and the number he got was 600%, higher than the value they had used in the marital dissolution agreement. Michael felt terrible that he had cheated his wife out of a lot of money even though he had done it unknowingly. He struggled with this, and eventually, he decided to tell her the truth, a decision that cost him a million dollars but left him at peace.Making amendsMichael also found a way to make amends with his business partner, although they never got to do business together again. But by allowing himself to surrender to the outcomes in his life, Michael was able to talk with his partner, who apologized to him and let him keep his equity.Lessons learnedPractice rigorous authenticity in your lifeOwn your life’s journey. It does not matter what you have gone through in life; as a leader, you need to stay true to who you are. This means that you have to always be authentic.Surrender to the outcomeMost leaders do not know how to surrender to outcomes because they are responsible for outcomes. Leaders are always trying to drive outcomes and waste so much energy on things that they cannot control at the expense of the things they can. You, therefore, have to learn how to surrender to outcomes.Learn how to do uncomfortable workWhen you practice authenticity and learn how to surrender to outcomes, you will do uncomfortable work. Uncomfortable work is emotional. It involves making decisions and taking actions that you would rather avoid taking because of the emotions involved.Andrew’s takeawaysAllow yourself to surrender and let go of your mistakesYour past mistakes are probably causing you a lot of pain and holding you back from experiencing life in its fullness. You need to surrender and let go; otherwise, you will continue living in pain.Do not be afraid to be authenticDo not be afraid to be your authentic self because everybody else is hiding behind a mask. When you remove your mask and live authentically, you will find freedom.Accept the painful moments in lifePain is sometimes necessary, especially if you are going to do things that are emotionally consuming. If you do not accept pain, you will never live a full life or find happiness.Actionable adviceThis is for you who has something that is hurting you badly, and the hurt is holding you back. But you cannot share what is hurting you with anyone because you think it will make you less successful.The truth is that you can get the relief of sharing your pain with the people you are scared to share it with. There’s a nine out of 10 chance that your pain will inspire the person you share it with, and they are going to feel connected to you because they see the strength that it took to share your pain. Then they are going to help you solve your problem.No. 1 goal for the next 12 monthsMichael’s number one goal for the next 12 months is to market his services. He has figured out what his product-market fit is, and all he has to do is literally go out there and say, “Hey, I think this will help you.” That’s what Michael plans to do in 2021.Parting words “If you are suffering from addiction, reach out. I would love to hear from you.”Michael Brody-Waite [spp-transcript] Connect with Michael Brody-WaiteLinkedInTwitterFacebookInstagramYouTubeWebsiteAndrew’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

Marcus Luer is Asia’s #1 Sports Marketing Entrepreneur and the Group CEO of Total Sports Asia (TSA), Asia’s global sports marketing agency, which he founded 23 years ago in Kuala Lumpur, Malaysia.Marcus is a sought-after industry expert and speaker and has been featured on CNBC, BBC News, Bloomberg Asia, regularly presents at major global sports conferences, and has contributed to many international newspapers and industry magazine articles. He recently launched his Sports Entrepreneurs Podcast series featuring top sports executives and entrepreneurs from around the world. “Pivoting is important, but I think you also got to be careful not to distract yourself too much.”Marcus Luer Worst investment everInspired by Netflix, Marcus started his own over the top platform SportsFix. SportsFix is a live sports streaming platform. He felt very confident about this platform because he knew the sports industry in and out. Given his over 20 years of experience, he knew where to buy content and what the audience was looking for.Launching the platform with confidenceMarcus put a team together, put in some of his money into the platform, and even brought external investors. He launched the platform in 2018, believing it would be a gamechanger. SpotsFix was at first available in Malaysia, and then after about eight months, it launched in Indonesia.Why this very good idea never succeededWhile SportsFix was and remains a good idea, Marcus and his team made a couple of mistakes that crippled the idea.Marcus and his team did not understand the consumption habits in Asia. He assumed the Asian market would consume online content the same way people in the West do. But there is a vast difference. People in Asia were not ready to sign up and pay for content, given that there is a lot of free content available.Another thing that Marcus overlooked was piracy. He did not realize there was a massive amount of piracy out there, which the team could not stop.Trying to pivotAfter learning that he had overlooked several vital factors, Marcus tried to change the business model. At one point, he changed the model from a subscription model to an ad-driven model. The constant pivoting saw Marcus get distracted from the original SpotFix idea.In trying to make the business idea work, Marcus ran out of money before he could get the confidence of his investors.Lessons learnedKeep your eye on the ball, and do not get distractedBuilding a business is not easy, and you may want to keep pivoting as you find your ground. However, be careful not to get distracted from your primary goal as you pivot.Find success in your local market before you go globalDo not be too aggressive in your growth strategy. Begin by winning your local market so that you have a strong foundation to expand globally. If your home market is weak and you try to go global right away, you will have a hard time cracking the global market.Andrew’s takeawaysShould you pivot or shut down your idea?As a business owner, always evaluate your business idea critically before you decide to pivot. Sometimes a business idea could be a bad idea. When an idea is bad, it does not matter how many times you pivot it; it will not work. You are better off shutting it down to avoid wasting your time and money.Allocate your business resources wiselyLimited resources are one of the biggest challenges many new entrepreneurs face. Your ultimate success or failure is dependent on how you allocate those resources. So be careful how you do it.Test your product within your local market firstTest your product with a small market, see how it feels about it, make necessary adjustments, and then scale to a bigger market.Actionable adviceDo not get so caught up emotionally in your business. You have to learn to let go, especially when you realize that it is not working anymore.No. 1 goal for the next 12 monthsMarcus’s number one goal for the next 12 months is to take his experience in sports into the world of Esports and gaming. Marcus also has a goal to find the next billion in revenue in the next 10 years.Parting words “It is always good to reflect on what happened in a different way.”Marcus Luer [spp-transcript] Connect with Marcus LuerLinkedInTwitterInstagramWebsiteBlogAndrew’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

Before becoming a marketing entrepreneur, Andrew Muller worked for Microsoft in their pay per click (PPC) division. His company (Andrew Muller Creative) now specializes in a new type of hyper-agile market testing called The Market Testing Incubator, where he’s able to test hundreds of ideas in a month (his average market test costs $2.63, which is about 50x cheaper than the industry standard) intending to lower lead costs.He helps clients who are spending thousands on media buying a month but aren’t getting the return on investment (ROI) they need. “An ounce of prevention is like a pound of cure. Test your ideas to understand what the market wants.”Andrew Muller Worst investment everAndrew was 16 years old and about to graduate high school when he decided to find work to pay his bills after graduating. However, Andrew did not want to be employed but rather preferred working for himself.Getting started with Google AdSenseAndrew discovered Google AdSense, and he immediately built a content website and filled it with content. He loved the business idea, and he believed it would be his retirement plan.Skipping the market research partAndrew did not do much research, and anytime he ran into market research that went against what he wanted to do, he would ignore it and do what he wanted to do instead. This ignorance led Andrew into choosing a niche that was difficult to make money in: music. It was very difficult to monetize his website.Doing it anywayEven though Andrew could see that his Google AdSense idea was failing, he kept at it. First, he did it for six months. He even created a course on how to use music production software. That did not work too. But Andrew kept at it until he was 23 years old.Finally putting his ego asideAndrew’s business idea was doomed from the start. He had spent almost seven years investing all his skills into this thing that never worked.Andrew could still not pay his bills from his business, and so he was on Employment Insurance. At one point, he was so broke he had nothing to eat. At this point, Andrew decided it was time to put aside his ego and accept that his idea was a big fail. So he gave up on that dream.Getting a jobAndrew found a job at an agency. Luckily, finding a job was not too hard for him because he had acquired lots of skills while running his business. Andrew had done everything in internet marketing, including email marketing, writing a 500 article website, paid ads, marketing strategy, automation, and more.Lessons learnedTake feedback, put your ego aside and pivot your businessWhen you get feedback about something that is not working, put your ego aside, and make the changes you need. This will prevent you from continuing on the path that is not working.Market research is fundamental; do not skip itMany business owners find market research very dull, and so they skip it. Then they spend a year or more running a failing, instead of spending just one day of market research that will guide them on how to pivot their businesses.Marketing and sales are two completely different business functionsMarketing is not sales, and neither is sales marketing. Marketing is bringing someone to the door, and the salesperson takes them across the finish line. Not understanding the difference between the two critical functions can lead to tension between marketing people and salespeople. Such tension reduces the quality of your leads, which ultimately affects your bottom line.Andrew’s takeawaysSave your time and money by testing your ideas firstTest your ideas so that you do not waste your time pursuing unprofitable ideas. If you test your ideas and realize that they will not work, do not hesitate to change them.Put people’s advice into considerationNot all advice will be good for you, but it pays to listen to people whose opinion you can trust. In doing so, you might just save yourself from getting boxed into a corner.Revenue is proof of concept, while profit is proof of competenceRevenue is indeed proof of concept. You can come up with an idea, test it, and all that. But if you cannot get somebody to pay for it, then the concept just does not work. You also need to understand that revenue is just the beginning when you are running a business.Other things, such as marketing, human resources, managing the people involved, accounting, etc., need to come together to make a business last. This leads to making profits and, therefore, if your concept is bringing you profits, you can consider yourself competent.Actionable adviceShift your mindset so that you can trust other people. Some people are worth trusting. First, believe in that, and then find that person that you can trust.No. 1 goal for the next 12 monthsAndrew’s number one goal for the next 12 months is to double revenue without losing his sanity and continue being happy to be alive.Parting words “Get testing.”Andrew Muller [spp-transcript] Connect with Andrew MullerLinkedInFacebookYouTubeWebsiteAndrew’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

Shan Saeed is Chief Economist at Juwai IQI, a leading property, technology, and investment company operating and advising clients in Kuala Lumpur, Singapore, Hong Kong, London, Melbourne, Makati, Toronto, and Dubai.He has 20 years of financial market experience in private banking, risk and compliance management, commodity investments, global economy, and brand and business strategy.Based in Kuala Lumpur, he is a financial market commentator cited in various news outlets around the world.Shan graduated from the Booth School of Business at the University of Chicago and got his first MBA from IBA Pakistan in collaboration with the Wharton School, University of Pennsylvania. He is also trained in Alternative Banking/Strategies from Harvard Business School. “In order to be successful in your life, you need to work hard, have an abiding faith in Almighty God, and lastly, which I strongly believe in, your mother’s blessing.”Shan Saeed Worst investment everShan was always impressed by his mom’s investing acumen. She had started investing in gold from the time when Shan was a kid. When Shan finished his first MBA in 1999, his mom encouraged him to read about gold and oil. However, Shan was not interested.At the time, Shan was focusing on his career and getting his second MBA. So he was saving money for that.Finally getting round to investingThe price of gold had been going up steadily since 1971. In 1971 gold prices were trading at $35 per troy ounce, and in 1980 it was $850. The price went down in 2001 to $257 per ounce. But in 2011, the price hit $1,923.Even though Shan had been keeping an eye on gold and knew how lucrative it was, he did not start investing until 2007. That was pretty late, and he was indeed behind the curve. Shan’s worst investment was the ignorance that saw him miss out on some good returns from gold for at least six to seven years.Lessons learnedSave to investAs soon as you start working, you should allocate 10 to 20% of your saving to investing. Cut down your expenses and save that money.Understand the market before you start investingBefore you start investing, you must first understand the market. So do your homework and get your market intelligence report. When you get to know the market well, you will be able to choose your investments wisely.Understand your risk profile and have an exit strategyUnderstand your risk profile and your risk-reward ratio. And most importantly, you need to have an exit strategy.Andrew’s takeawaysPut aside a specific amount of money for investingYou have to be very intentional with your investment plan. Make it a habit to save by putting aside a certain amount. Do not use it for anything else other than investing. Whether it is 5% or 10%, or 20% of your salary, allocate it to investing in stocks, gold, property, or bonds. Then manage your portfolio slowly and steadily over time.Actionable adviceBe aggressive, gather as much information about the financial market as you can. Listen to people’s advice about investing, but make your own decision.No. 1 goal for the next 12 monthsShan’s number one goal for the next 12 months is to take a long position in gold and silver, be very aggressive in the market, and keep himself up to date. [spp-transcript] Connect with Shan SaeedLinkedInTwitterWebsiteAndrew’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

Jonathan Palmar makes videos. “People will always disappoint you because your expectations will never match what they provide you with.”Jonathan Palmar Worst investment everEver seeking approvalLike most people, Jonathan grew up believing that he needed to trust in the constant search for other people’s approval. As is human nature, Jonathan wanted to fit into the pack. He found himself often wanting people to give him the validation that he was going on the right path.The nagging need to be validatedJonathan’s need for approval sometimes got pretty dramatic. He would often put himself in gravely uncomfortable situations.There was this one time that Jonathan wanted to complete this project so badly. He put his heart and soul into this project because he wanted his boss to be happy. When he finally went to present it, his boss responded nonchalantly and tossed it to the side.Getting to his breaking pointJonathan was devastated by the reaction he received from his boss so much that it threw him to his breaking point. He realized that he had put all this time into the project, and he ought to be proud of himself. Jonathan also admitted that he would always get disappointed if he kept trying to get people to validate him.Adjusting his expectations of othersAfter this incident, Jonathan learned that he had wasted so much money and time searching for validation from people. Now he has stepped out of this kind of thinking. He lives his life without seeking approval from anyone, including his friends, family, coworkers, and audience.Lessons learnedOutward approval brings you zero rewardThere is no reward in searching for approval or doing things to get acceptance from other people. Stop seeking validation from others and be your number one cheerleader.You need to invest more in yourself and not other peopleWe need to focus more on building ourselves up and investing in ourselves instead of on building others.Partner with someone who gives as much as they takeFind somebody you can work with within a balanced partnership in which the give and take are equal. If you find yourself in a situation where the amount of effort that you are putting to get validation is not equal to the outcome that your partner provides you with, then you need to leave.Andrew’s takeawaysWhat other people think of you is none of your businessBe comfortable with the fact that this is your life, your decision, and your thinking. Some people are going to like it, and some won’t. But that is their problem. So have the courage to live your life, and do your things without getting concerned with what people think about you.Actionable adviceYou have to polish your diamond. Nurture yourself as an investment. Take the time to look introspectively and figure out what is important to you, and then have the courage to act on it. You cannot start to love and care for people until you begin to love and care for yourself.No. 1 goal for the next 12 monthsJonathan’s number one goal for the next 12 months is to live a day at a time and not plan a single moment.Parting words “This wasn’t the worst podcast I’ve ever been on. So I consider this a success story.”Jonathan Palmar [spp-transcript] Connect with Jonathan PalmarLinkedInAndrew’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