My Worst Investment Ever Podcast

At the age of 29, and the peak of her corporate career and deep unhappiness, Dr. Natalia Wiechowski quit her job and started from scratch. She took a nine-month sabbatical, during which she changed the way she thinks, speaks, and acts. From that moment, she committed to designing her purposeful dream life and founded Think Natalia.Her obsession is “coachsulting” people who have left the corporate rat race to do their own thing. These people all have one thing in common; they want to build an international, sustainable, and purposeful thought leadership personal brand on LinkedIn. They want to use that brand to become the voice of their niche, get more clients, and positively impact the world.She started as a Social Scientist, turned into a Dr. of Philosophy, a “LinkedIn Marketing Unicorn” (Inc. magazine), a Forbes Coaches Council Member, a LinkedIn Learning author, and the Middle East’s leading Edutainer. “If you don’t take calculated risks, then you’re going to live a boring, mediocre life. That’s my biggest nightmare.”Natalia Wiechowski Worst investment everNatalia invested a lot of time, energy, and resources into becoming the model successful woman. She finished her studies, made her parents proud, worked her way up the career ladder, and even was a competitive athlete with tons of awards. All her peers admired her.All looking good from the outside but not from the insideThis kind of life that Natalia had built for herself looked phenomenal from the outside. Everyone thought that she was very happy. This is precisely the kind of life she imagined having when she was a teenager. But deep down, Natalia was unhappy. She didn’t think of herself as successful. She felt like a complete mess.Yearning for more from lifeNatalia went through a phase of confusion. She had a seemingly successful career, but inside she felt like a mess. She wanted more from life. The confusion left Natalia in a lot of physical pain that nobody could figure out the cause. She slowly realized that the pain was self-created.Getting herself out of a rutWhen it dawned on Natalia that she was causing herself physical and emotional pain, she committed to finding healing. Natalia talked about what she was going through with her friends, mentor, and parents. They all advised her to quit her job and go on a sabbatical. During that sabbatical, she went on a journey to define what happiness, success, money, time, and work meant to her. Natalia also tried to figure out how she wanted to live and whom she wants to work with.Natalia’s sabbatical leads her to her dream life and a career of purpose. She understood that your dream job only exists when you create it, and if you believe that you have what it takes, just go for it.Lessons learnedFollow your heart and live your true purposeWhen that inner voice asks you to follow your heart, listen to it and go on that journey that leads you to your true purpose.Invest in yourself and live the life you’ve always wantedDesign a lifestyle around your dreams and passions. Go out there, sharpen that skill that fuels your dreams, master it, and share it with the world. That’s the way to live a healthy balanced life without any regrets.Don’t fear changing direction just because you have invested time in somethingMost people refuse to change because they have invested so much invest time, love, energy, and money into something. So they keep holding onto it even long after it has stopped serving them. The truth is that you will always invest and lose but learn in the process.Andrew’s takeawaysDon’t listen to the naysayersIf you want to do something, forget what other people say. Just go on and do it. Ultimately, it’s about your own satisfaction and pursuing your dreams.Learn how to quit the things that don’t workWhen you realize that a relationship, a job, or whatever, is not working for you, you better quit it. Hurry up and quit before you get trapped in it.Actionable adviceDesign space and time to reflect on your life, your goals, and your dream career. Doing this will help you figure out who you are meant to be and take control of your destiny.No. 1 goal for the next 12 monthsNatalia’s number one goal for the next 12 months is to be more entertaining. She wants to learn more about the art of stand up comedy, humor, satire, cracking jokes, and what is entertainment. Natalia wants to find out how she can incorporate entertainment into her business, life, stage character, and personal brand to help even more people while having fun along the way.Parting words “Stop waiting for the perfect moment because perfection is an illusion. Start now.”Natalia Wiechowski [spp-transcript] Connect with Natalia WiechowskiLinkedInFacebookYouTubeInstagramWebsiteAndrew’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

Ari Gunzburg is a rising new star in personal growth after experiencing trauma as a child and then extreme volatility as a teenager. As an award-winning international speaker, Ari motivates people using personal stories filled with triumph, tragedy, and transformation. Ari also helps inspire people using one-on-one coaching and his books for both children and adults. New in 2020 is his debut non-fiction title, The Little Book of Greatness. “If something truly isn’t working, the sooner you realize it, the better off you are.”Ari Gunzburg Worst investment everAri used to deliver a book called The Advertiser while growing, a small book full of advertisements from the community businesses and delivered to every home in Baltimore.Starting his own book of advertisementsAs a young man, Ari had a dream to start a similar book, and the opportunity came when he moved to Cleveland. He reached out to the people running it originally and made an offer, and they accepted.Ari started working on the book, and he put everything into it. He went knocking on business owners’ doors, trying to sell them to the idea of advertising in the book. In Baltimore, all the business owners believed that they needed to be in the book because that’s where people look to find out what is going on.In Cleveland, though, things were different, and the business owners needed some convincing.A poor startThe book’s uptake was not encouraging, but Ari persisted and kept trying everything he could to make it work. Things didn’t get better; in fact, they got worse.Simultaneously, a website that many people in Cleveland went to for information and news was also running an advertising section and charging low advertising prices. The website was giving Ari real competition.Doing the math and cutting his lossesAfter three years of giving this book his best and still barely making any money, Ari started thinking about closing it down, but he didn’t have the courage to do it.One day, Ari spoke with a business coach who asked him to consider a scenario in which his book suddenly became wildly successful, and every single business in town started advertising with him. What’s the maximum amount of dollars that he could make?Ari ran the numbers quickly in his head and realized that that number was about half a million a year before taking out expenses. This number made Ari realize that it was time to close shop. It was just not enough to keep him afloat.Lessons learnedPersistence is not about persevering in every situation at all costsPersistence is about recognizing when you should stick it out and when you should throw in the towel. Being persistent with things that you don’t want to be doing, or that are not working for you, or an investment that’s just losing money is pointless.Be aware of the advice you’re getting and where it’s coming fromIt is good to have sounding boards that can help you process your advice and decide if it is in line with where you truly see yourself going. Always feel free to say no to advice if it does not suit you.Andrew’s takeawaysUnderstand the actual market size and potentialAs you are researching your business, make sure you calculate your actual market size and income potential. This will guide you on whether you should invest your money and time in that business.Advice is good, but you must process itIt is good to receive all advice, but you must process that advice and identify what part of it is right for you and which one is not. Welcome advice, but accept that not all of it will come from a place of genuine understanding.Consider external factors that might affect your businessWhen starting a business, you must consider external factors that might affect your business. External factors can easily crush your business if you are not aware of them beforehand.Actionable adviceThere are many different businesses that you can start. But before you settle on any, have clarity on what you want to do, how it will help people, and whether or not you can actually make money with it.No. 1 goal for the next 12 monthsAri’s number one goal for the next 12 months is to finish a program that he is working on. The program is meant to help people reconnect with themselves and rekindle their lives’ magic. [spp-transcript] Connect with Ari GunzburgLinkedInTwitterYouTubeInstagramWebsiteAndrew’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

Sanjeev Chitre is the Managing Partner at U-Group and a four-time successful entrepreneur. Sanjeev has 30+ years of starting, growing, and executing the liquidity of several major small and medium-sized companies.He brings together an integrated team of industry and growth partners to creatively build value for The U-Group clients. Sanjeev earned his MS in Electrical Engineering from the University of Wisconsin-Madison, US, and a BS in Electronics & Telecommunications from the University of Pune, India. “When you make a mistake, accept that it was not the right thing to do and make an effort never to do it again. That allows the world around you to change.”Sanjeev Chitre Worst investment everSanjeev’s worst investment ever happened when he was building his first public company. The company had five people only and had less than a million dollars in revenues. The company was in one of the not so desired spaces of the venture capital space, semiconductor and semiconductor chip-making equipment. At the time, the company was worth $25 million.Growing his portfolio of companiesAfter taking his first company public, he bought another company that was 30 times bigger than the first one but was illiquid. However, this acquisition made Sanjeev very confident, and he went on to acquire more companies, and now he had five companies in total. Two were performing well, two were average, and one was simply horrible.Letting his ego beat his business acumenEven though that one company was a poor performer, Sanjeev went ahead and outbid another buyer for it. He could have paid $12 million, but he paid $30 million for it. Sanjeev’s ego led him to believe that he could pivot the company and make money from him. He had this big plan to reduce the cost of materials by reprocessing them in real-time. This plan, however, was not risk mitigated and was purely led by ego.Losing the investmentSanjeev spent the next three years trying to prove that his plan was a good one. He ended up decimating the value of the shareholders and lost over $100 million as he tried to build that investment.Lessons learnedMitigate your risk before investing in somethingThere are so many revolutionary disruptive changes that all entrepreneurs want to make. Do not do it unless you have a risk mitigated path of execution.Listen to the people you work withListen to what the overall team is saying, respect their decisions, and their feedback.Know the expected outcome first before getting into any businessDon’t get involved in a competitive landscape where you do not know what that outcome is going to be.Cut your losses as soon as possibleIt is vital to cut your losses early enough and move on.Do not change direction pivot your business insteadThere is a difference between changing the entire direction of your business and pivoting it. Pivoting your business involves changing your vision to align with the reality of the marketplace. Changing direction entails exploring an entirely new market with a new product.Andrew’s takeawaysTake it easy on yourself; mistakes are part of lifeDo not beat yourself up when you make a mistake. Remember that you made the best decision at the time, with the knowledge and tools you had.Diversify your portfolio to manage riskHave a diversified portfolio to manage your risk. While you will never get all your investments right, at least the good performing ones will cover the poorly performing ones.Have an exit plan for all your investmentsWhat is your plan for cutting loss? One good exit plan is to have a stop loss for all your investments.Actionable adviceLook at where solutions exist and bring them into your business to create a much more workable solution. If the model has worked in other industries, it is likely to work in your industry without you having to reinvent a solution.No. 1 goal for the next 12 monthsSanjeev’s number one goal for the next 12 months is to publish his book on what not to do in entrepreneurship.Parting words “Keep the entrepreneurial spirit fully engaged. Entrepreneurs are made for passion in life. They are not made for an event.”Sanjeev Chitre [spp-transcript] Connect with Sanjeev ChitreLinkedInTwitterWebsiteAndrew’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

Kathleen Ann, a corporate escapee, is known as the “Money & Marketing Champion” for heart-centered women entrepreneurs (and enlightened men!). She is the Founder of ‘Power Up Your Marketing’ and holds multiple Money and Marketing Coach certifications.Kathleen works with service-based women business owners to help them create and grow financially successful businesses based on their passion and unique brilliance.Her marketing expertise and insight have helped women around the world to stand out and position themselves as experts in their field. As well as move away from charging by the hour and package and price their services instead, so they can charge what they’re worth and get it. “If you are not prepared to invest in yourself, then don’t quit your job.”Kathleen Ann Worst investment everKathleen had been working in a corporate role, had a good position, and had built a great career in direct response marketing. Everything was going great until she got laid off. And just like that, she was jobless.Starting her own businessKathleen had 20 years in the direct response marketing industry. It happens that Kathleen had started losing interest in the corporate arena, and so when she got laid off, she decided not to go back to another corporate job. Instead, she started her own business doing the same thing she had been doing in her 9 to 5 job.The challenging journey of a solopreneurThings were working out for Kathleen at first. She managed to get a few clients, and she was making money here and there. The excitement of working for herself got the best of her. Kathleen just went in without much thought about her solopreneurship and the journey with time became tough for her. There were times when she could barely make any income.Rethinking her business modelKathleen started rethinking her business model as it was not working well for her. She found a lady who was running a three-day course on rebranding. Kathleen attended the training, and after that, she rebranded her business, refocused her niche, and the business has taken off since.Lessons learnedBe in the right mindset before leaving your 9 to 5 jobUnderstand what it takes to run a business. Research your market, and be sure that it is indeed what you want to do. Be prepared for the risks that come with running a business and once you are sure you can handle it, then quit.To be a successful business owner, you must invest in yourselfTake entrepreneurial courses to learn how to run your business. By investing in your growth, you will be investing in your business and your future.Andrew’s takeawaysYour business won’t have the same infrastructure as your employerWhen you start your own business, you won’t have the same resources you had in your employment. You won’t have staff in various departments to help you out, and you won’t have all the technology you need or even a lot of working capital. So embrace yourself because running your business is a different ball game.As a business owner, you bear all the riskAs an employee, you bear no risk should anything happen to the company. However, as a business owner, all risk is on you.Actionable adviceFind somebody who has done what you want to do, have the type of business you want to have, and hire them to help you with your business.No. 1 goal for the next 12 monthsKathleen’s number one goal for the next 12 months is to launch an online program that will help people learn from her over 12 years of experience running her business as a solopreneur. Parting words “Good luck with your endeavors.”Kathleen Ann  Connect with Kathleen AnnLinkedInTwitterWebsiteAndrew’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

After 10 years in investment banking, Scott Eddy moved overseas and lived in Europe and Asia for 17 years. While living in Bangkok, he started the first digital agency in Southeast Asia, and it remained the biggest in the region for five years.After selling the agency and spending some time in Europe while building his personal brand, he now travels full-time while building social media strategies, speaking at conferences, creating video marketing packages, and consulting for the world of luxury travel. He is also the TV host for the new travel series on Lifetime Television called Video Globetrotter. “The one skill that you need no matter what industry you’re in is sales.”Scott Eddy Worst investment everScott comes from a police background. His father was a Fort Lauderdale cop. Just like everybody on his dad’s side, Scott’s plan in life was to graduate high school, join the police academy, become a cop, get married, have kids, retire, and die.Getting ready to be a copScott spent every day after school in the police department, where he learned everything about being a cop. He watched an autopsy when he was 13, saw interrogations, and went on ride alongs. That was Scott’s whole life.The dream turns to dustThree weeks before Scott graduated high school, and just a few months before he joined the police, his father was killed in a plane crash in the line of duty. This turned Scott’s whole world upside down and killed his dream to become a police officer.Lessons learnedFace tragedy head-onWhen tragedy strikes, you could stick your head in the sand, pity yourself, allow yourself to get crushed every time you think about it, and prevent you from moving forward. Or you could stare it in the face and move on with your life.Choose your friends wiselyContinually reevaluate and look at who you surround yourself with. If it’s the wrong people block them, unfollow them and just immediately cut them out of your life. Always have people that uplift you. It doesn’t matter what industry you’re in.Manage your time wellTime management is your best friend or your worst enemy. You have to be religiously strict with your time.Andrew’s takeawaysPut your life into perspectiveOne of the tools to put your life into perspective is to look at it from the outside in. Talk to people and get other views. Use this tool to move through tragedy.Tragedies are not always mistakesSometimes a tragedy can be a mistake; sometimes, it’s just a simple tragedy. How we handle the bad things that come into our life is what matters. Take tragedies head-on and allow yourself to grow from that experience.Actionable adviceBefore you make any big decision, take a step back, take an extra day, and look at it from the outside looking in. If you have people you trust in your inner circle, ask for their opinion. By looking at things from the outside in, you’re always going to have a clearer mind.No. 1 goal for the next 12 monthsScott’s goal is to make his personal brand continue to grow.Parting words “Stay positive, go big, or go home.”Scott Eddy [spp-transcript] Connect with Scott EddyLinkedInTwitterFacebookInstagramWebsiteAndrew’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

James Mulvany is a successful entrepreneur, and over the past 10 years, has built multiple internet companies (including Podcast.co & Radio.co) plus a property portfolio and has made a range of angel investments in startups! Having actually never had a job in his life, he started his first business when leaving school. “Business is never plain sailing. You have your ups and downs, you have good years and bad years, just like any job.”James Mulvany Worst investment everAbout a year after launching Radio.co and experiencing a great first year, James started thinking of ways to invest the profit he made.James had been very much engaged with the local area’s startup scene, and he figured he could invest in one. So he started going to various angel pitching events.Joining an angel investors syndicateThe more James attended the pitching events, the more his angel investment network expanded. One of the things that were quite common in the angel circus was the idea of having a syndicate. A syndicate is made of five or six investors who invest together.James found himself involved in a syndicate with some top-notch guys interested in making a few investments. The other members of the syndicate saw James as the lead to any IT related investment. They looked up to him to decide whether to invest in IT-related companies or not.Picking a startupThey found a few good pitches, and one concept for an augmented reality computer game stood out. At the time, there was so much hype around these gaming goggles. James’ syndicate saw this as an opportunity to make massive returns on their angel investment at that early stage. The team invested around £25,000 each. James was 29 years old at the time, so this was a considerable investment for him.The problems start trickling inThe concept James and his team invested in was good, but a couple of months into it, the startup realized that augmented reality wasn’t necessarily going to work out. They wanted to pivot to a regular computer game.As if that was not enough, one of the startup guys fell out with the other two guys. He moved to another country, and no one could get in touch with him. The two other partners tried to get him to resign as a director of the company and forfeit his shareholding, but he just went off the radar.Unfortunately, the main director became quite ill and at this point, the problems were just too many to handle. The startup ran out of money, and they had very little to show for the money the investors had put in. James was left with a loss of £25,000.Lessons learnedInvest in an industry you understandIf you’re going to make an angel investment, it needs to be in an industry where you’re entirely convinced that your money is in good hands. Be sure that the business owners do not need any mentoring or hand-holding from you. So it’s very much, just like a hands-off investment. If you’re going to make a hands-on investment, it needs to be something that you understand for sure.Be careful of investing in new shiny thingsMost novel ideas tend to be volatile. If you are going to invest in new cutting-edge ideas, be prepared to lose.Stay togetherIf you want to be successful, you need to stay together. You don’t need to be amazing because the amazing guys crash and burn, and they quit. So keep the team together and treat each other well, and you will succeed.Andrew’s takeawaysIf the company starts to pivot, stop the businessIf you end up chasing the revenue, you’ve lost what you originally planned to do, and you are likely going to let your investors down.There’s a difference between starting a new business and a never before seen businessInvesting in completely new things brings on a considerable level of risk. It will occasionally be successful, but it brings in a lot more risk.Actionable adviceDon’t go into something you don’t understand. If you go into something you’re not 100% sure about, make sure you’re prepared for the possibility of losing.No. 1 goal for the next 12 monthsJames just launched a platform called Matchmaker.fm a matchmaking service for podcasters and guests. The platform recently hit 13,000 users. James’ number one goal, therefore, is to get 100,000 users over the next year.Parting words “Just go out there and succeed.”James Mulvany [spp-transcript] Connect with James MulvanyLinkedInTwitterYouTubeWebsiteBlogAndrew’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

Jim O’Shaughnessy is the Chairman and Co-Chief Investment Officer of O’Shaughnessy Asset Management (OSAM). He is the author of four books on investing, and his book What Works on Wall Street is a BusinessWeek and New York Times Business bestseller.Jim is the former Chairman of the Board of the Chamber Music Society of Lincoln Center and currently serves as the Chairman of the Capital Campaign for CMS. Jim is married with three children and two grandchildren and lives in Greenwich, Connecticut. “You got to have the ability to stick with the process. Trust the process.”Jim O’Shaughnessy Worst investment everJim started investing when he was 20. Back then, he was doing a lot of mathematical modeling. Jim concentrated on the Black Scholes option pricing model that was a pretty good investing model with about 70% accuracy. The downside of the model was that it was about singles and doubles. There were no home runs. Jim craved for home runs.Experimenting with other investment modelsJim was having a lot of fun with his model of choice, and his investments were doing well. Then he started experimenting with another model that was more focused on the market and not individual companies. The model would look at whether the market was fairly priced, overpriced, or underpriced.Riding on a highFor a moment, the model worked pretty well. According to this model, the market was very overpriced, and so Jim started accumulating put options. By early October of 1987, Jim had acquired the largest put position in his life.Selling it allIn 1987 the market experienced the biggest, on a percentage basis, crash ever. Though, Jim had ignored his model and sold all his puts the day before the crash! He made a small amount of money because the markets were gyrating all over the place. Jim would have made so much more money after the crash had he stuck with his model and held onto his investment.Lessons learnedAnyone can make a poor investment decision. You are not an exceptionWe all think we are exceptions, that because we study a lot, do a lot of research, and we are smart, we cannot make poor investment decisions. The truth is that if you are smart, you are probably more likely to fail because you create narratives about how good you are that you believe them, and then you convince other people of them. In the process, you let your guard down and end up making the wrong choice.For your investment model to work, you must be consistently consistentYou may have this great model that you believe will help you soar as an investor, but it does not work. And not because you are not smart enough to figure it out, but because you are incredibly consistently inconsistent. To make a model work, you must have the discipline to use it consistently.You must trust your investment processThe vast majority of successful investors who beat the market over time have rigorously researched investment processes they religiously adhere to. Their secret lies in trusting their processes. Sometimes they win, sometimes they lose, but they stick with the process regardless.Andrew’s takeawaysDon’t sell everything, size yourself insteadOne of the biggest mistakes people make is to jump into something 100% instead of sizing themselves into that position. If you want to get out of an investment, the best way to prevent yourself from overreacting is to sell X amount, not everything.No investment model will work all the timeThe whole concept of an investment model is that no model will work every year. But what keeps you winning is your discipline to stick to your model even when it does not work.Actionable adviceFind an investment process that works for you. It might not work for other people, but if it works for you and feels right to you, stick with it and let it work.No. 1 goal for the next 12 monthsJim’s number one goal for the next 12 months is to help with a couple of exciting projects that OSAM has. One of the projects is called Canvas, an operating system for investment advisors. The second project to start in 2021 is the fifth edition of What Works on Wall Street.Parting words “Good investing is simple. It’s not easy.”Jim O’Shaughnessy [spp-transcript] Connect with Jim O’ShaughnessyLinkedInTwitterWebsiteAndrew’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 mentionedRobyn Dawes (1996) House of CardsJason Zweig (2007), Your Money and Your Brain: How the New Science of Neuroeconomics Can Help Make You RichBob Seidensticker (2006), Future Hype: The Myths of Technology Change

John North is a Seven-Time #1 International Selling Author about business strategy and internet marketing and his passion for squash. John is CEO of Evolve Systems Group and has created many products and services designed to empower business owners, including Evolvepreneur.app, Evolvepreneur.club, and Evolve Global Publishing.John’s passion is to help business owners become more strategic and smarter about their marketing efforts. He continually pushes the envelope of what’s possible in this modern era and is widely regarded among his peers as very innovative and highly creative in his approach. “Own your brand, own your customers.”John North Worst investment everJohn had a software distribution company on one side of Australia, and his competitor had a similar company on the other side. The two had healthy competition, each with their customers.The mergerJohn and his competitor decided that it was a good idea for the two businesses to merge and distribute their products together. So they did a 50/50 partner split. The merger seemed good and legit to John.Jumping the gunThe two soon-to-be partners set a date to sign the merger documents in Sydney. Even before the ink could dry on the signed papers, his former competitor had announced the merger to everyone without John’s consent. This move severed relationships with some of their customers. John had to do a lot of damage control.The competition withinWithin six months, John found out that his new business partner had set up another business inside their business. He was trading with this other company. He also put all the good employees and programs in his side of the business, instead of the partnership.Parting waysThe partnership was quickly going south. John decided to buy out his business partner. He offered him $500,000, which he promptly accepted.The supplier from hellJohn’s supplier decided to bring someone else into the country to distribute the same stuff and steal all his customers. John and his supplier had a war over customers for a whole year. John’s business was losing money due to this trade war.John’s last option was to sell the company and start something different. He found a buyer, but he never recovered the money he lost in the merger.Lessons learnedNever trust your supplierSuppliers are smarter than you think. So be careful not to let them outsmart you.Own your stuffBe careful about being the distributor because it is easy to get screwed when you are the middleman.Andrew’s takeawaysBusinesses are about trust and personalitiesYour product is a secondary item. The people that you work with and the trust that you have are what make your business. A lot of young people overlook the trust element.Don’t let fear blind youTake a step back from the deals you’re doing right now and assess whether you are doing them because of fear. Sometimes fear is very healthy, but other times it drives us to consider doing something that may not make sense. It drives us to do things too quickly and not pay attention to the details.Actionable adviceDon’t make business decisions out of fear. Step back and think things through.No. 1 goal for the next 12 monthsJohn’s number one goal is to get his software off the ground, particularly in the area of podcasting.Parting words “Own your stuff. And always be looking at the big picture.”John NorthConnect with John NorthLinkedInTwitterFacebookWebsiteBlogAndrew’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

Frank Agin works to empower small businesses to achieve more by helping them create dynamic professional relationships. He does this by operating a membership-based referral program called AmSpirit Business Connection and shares insightful content via his Networking RX podcast, articles, and books. Learn all about Frank here. “Everybody I know can benefit from somebody else I know.”Frank Agin Worst investment everFrank worked for a while as a tax consultant with PricewaterhouseCoopers, one of the most prestigious public accounting firms. He left the job and got paid his pension. Frank decided to invest that pension and 401k.Working with the familiarFrank approached a financial advisor he had met at PricewaterhouseCoopers. The man was on the board of some of the clients Frank had worked with. Frank, therefore, trusted him and chose him to be his financial advisor. Frank didn’t bother to find out more about him. Working for his former firm was enough credibility for Frank to trust him with his money.The advisor with no adviceThis was Frank’s first investment, and he didn’t know much about investing. He thus just went with the flow. The financial advisor would call Frank once every six months with a few updates on how the stocks were performing. He never gave Frank advice on how to improve his portfolio.Whenever Frank would make suggestions, the financial advisor would brush them off. Frank ended up missing out on so many investment opportunities. The financial advisor didn’t seem to have time for Frank and wasn’t too bothered about getting to know him and what he truly needed as an investor.Going for some who truly caredWhen he left his previous job, Frank ended up in a smaller investment firm where he occasionally engaged with one of the financial advisors. This advisor would randomly offer Frank advice on how to best invest his money even though he was still working with his old financial advisor.Frank grew to like the new financial advisor as he seemed to care more about his financial well being. Eventually, Frank decided to drop his old financial advisor and started working with the new one, who continues to be his advisor to date.Lessons learnedKnow your customers by building relationships with themYou need to know your customers and have a relationship with them and your vendors. We do business with those we know, like, and trust.Andrew’s takeawaysCheap is expensiveGoing with the lowest cost supplier is probably the most expensive thing you can do. You may think you’re cutting corners, and you’re getting something cheap, but chances are, you’re getting it super expensive.Actionable adviceYou need to get to know whoever is in your world. Engage with people whenever you have the opportunity. When you’re vetting vendors or looking to hire somebody, make sure you engage with them to know them better.No. 1 goal for the next 12 monthsFrank’s number one goal is to keep meeting people and grow his networks.Parting words “Find something you’re passionate about and volunteer. It’s a wonderful thing that will make you feel good and connect you to people that you didn’t even know existed.”Frank Agin [spp-transcript] Connect with Frank AginLinkedInTwitterFacebookWebsiteAndrew’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

Hala Taha is the host of Young and Profiting Podcast, a top 10 Self-Improvement podcast on Apple with over 1 million downloads. She recently launched YAP Media, a full-service podcast production and marketing agency for top podcasters, celebrities and CEOs projected to generate over $2M in revenue in its first year. Hala is also known for her engaged following and influence on LinkedIn. “It’s always great to evolve your dream.”Hala Taha Worst investment everHala is a natural-born leader. So it was no surprise that when she joined Hewlett-Packard (HP) as an intern, she was burning to take on some leadership role. Previous to joining HP, Hala was the CEO of a company of 50 girls. She also was the President of her Alumni Association.Jumping heart in into a leadership opportunityHala saw an opportunity to start the young employee network chapter in New Jersey, where she was stationed. She went around the office, got signatures, and started the network from scratch.At the time, Hala’s company office had no culture. She went in there and infused everything with culture. She started the company holiday party and did a fantastic company summer picnic every year, which the company still does.Putting her soul into itHala put a lot of time into the young employee network. She would work full time during the day, and then at night, she would be working on the young employee network. She was so passionate about it and loved being a leader.Getting the recognitionHala quickly became the face of the young employee network. She was the President of her chapter for two years. Her hard work at the network got her great visibility with the CEO.Going higherHala wanted to keep growing and take her leadership skills to the next level. The next logical phase for her was the global young employee network. Here, the leaders from all the chapters around the world run all of the young employee networks and set the global strategy.Hala had her foot in the door as the recruitment director for the young employee network globally. She took advantage of this role and started a global event for Hewlett-Packard called HP Spirit Week. This is a week-long themed event. It became a huge event that they still do.The letdownStarting this event made Hala stand out in the entire company. All her peers agreed she was doing the President’s job. In her fourth year in the young employee network, she vied to be President. She had earned it. Hala had done everything right. She was President of her chapter for two years; she did the HP Spirit Week and knocked that out of the park. She had like 50 people that wanted her to be president record video nominations. Her board wanted her to be President.But the ultimate decision-maker was this lady who was the HR director, and she didn’t like Hala. When it was time for Hala to become President, she gave it to somebody else who had zero experience. Hala was crushed. She was so confused. She had put in almost four years, that she could have worked on a side hustle, into this young employee network thing.Hala felt so devastated to have made her worst investment ever by investing all her time into something she was never rewarded for. She left HP and went to Disney after that because she felt burned.Lessons learnedInvest your time in an asset that you ownInvest your time in something that you can take with you wherever you go, no matter what job you’re in and where you are in life. Do this instead of investing in a company that you will leave behind.You’ll always have your brandYour brand never leaves you, your network never leaves you, but your job can leave you at any time. Job security is no security, so invest in your brand.Andrew’s takeawaysWhat is your differentiating point?To be successful in anything you’re doing, you’ve got to figure out your differentiating point. A lot of young people getting into the workforce come with nothing that differentiates themselves. You’ve got to stand out to succeed.The best people don’t always rise to the topSuccess is not all about hard work. You can prepare, work hard, study, and bring that value to your company. But, success is 50% hard work and 50% relationships.You can edge out the big guysAs a small and medium-sized business, attack the weakness of your big giant competitors. Figure out that one thing that they do not do well, and do it amazingly.Invest in life skillsInvest in personal development skills such as writing, leadership, presenting, public speaking, etc. Life skills will add value to your company. But most importantly, they are transferable skills that you can take with you wherever you go.Actionable adviceWhen you’re in the moment, and you want something really bad, think to yourself: “Is this something I could do on my own? Do I need a gatekeeper to tell me “yes”? Is this something that I can start on my own, and I could own whatever I’m working on?”If the answers are “yes,” and you feel like you can do it on your own, don’t go work for another person. Don’t go intern for that person. Don’t go volunteer for that person; go do it on your own. Start your own thing.No. 1 goal for the next 12 monthsHala’s number one goal for the next 12 months is to see the Young and Profiting podcast become a top 10 education podcast on Apple. [spp-transcript] Connect with Hala TahaLinkedInTwitterInstagramWebsiteAndrew’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