My Worst Investment Ever Podcast

Mark Moss has been a full-time investor for 25 years and has invested in businesses, real estate, stocks, gold, and crypto. He is a market analyst on YouTube and newsletter publisher.   “We don’t learn from our successes, we learn from our failures.” Mark Moss   Worst investment ever The young entrepreneur Mark was just 18 when he started buying real estate. He was buying and fixing properties. Then he started building from the ground up, doing mixed-use buildings and commercial buildings. Mark knew how to make a lot of money. But could he keep the money? Turning everything into gold Mark was enjoying success. Every real estate project he touched thrived. He was steadily building his real estate portfolio, built himself a mansion, got married, had a kid, everything was great. What he didn’t understand is what got him in trouble Mark was smart enough to see the 2008 Real Estate crash coming. He had read a book, The Next Great Bubble Boom, by Harry Dent in which Dent kind of forecasted the crash. Mark knew he needed to get out and started selling every real estate that he had. But since he was doing development and these products took years, he got stuck with a couple of properties. Mark had put his entire energy into building his real estate portfolio. His investments started losing value first by 6%, then by 18% and in no time by 60%. All along, Mark thought he would ride the tide, and so he kept pushing. However, when the drop hit 60%, he ended up losing everything. And it was because Mark didn’t understand that you don’t put all your eggs in one basket. Mark went from having a $20 million real estate portfolio to being millions of dollars in debt. Helping others invest the right way Mark prides himself on being good at making money. So after his worst investment ever, he dusted himself off and got up again. Mark was able to make money again. This time, he had to learn how to do it the right way. Today, his mission is to make sure other people don’t repeat his same mistake. Lessons learned Diversify your portfolio Never put all your eggs in one basket. Diversify your portfolio by reinvesting your profits into different investments. Most people tend to put back profits into their initial investments. While this is ok, if your investment tanks, you lose everything. Understand the basics of investing If you’re starting to invest, be sure to understand the basics of investing so that you’re able to make sound decisions, and protect your wealth. You have to create wealth first to invest Investing is what you do with your money after you make it. You have to create wealth first, and then you invest what’s leftover. Then you protect your wealth through risk management. Andrew’s takeaways Creating, growing and protecting wealth are different things One of the biggest mistakes that people make is to confuse, creating, growing, and protecting wealth. We create wealth through business. We grow wealth by investing what we’ve created, and we protect wealth through risk management measures such as a stop-loss, asset allocation, and diversifying your portfolio. Actionable advice Sit down and think about what you’re trying to do and where exactly you want to be. Then make a plan to get there because nobody is going to be able to tell that to you. You have to figure it out on your own. No. 1 goal for the next 12 months Mark’s goal for the next 12 months is to build cash flow and grow his wealth. Connect with Mark Moss LinkedIn Twitter Facebook YouTube Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast Further reading mentioned Joe Dominguez (1999), Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence Harry Dent (2006), The Next Great Bubble Boom: How to Profit from the Greatest Boom in History: 2006-2010

Mark Pierce is an attorney, an accountant, and the owner of Cloud Peak Law. With over three decades of experience, Mark has truly “seen it all” - at least from a legal perspective, from bankruptcy and estate planning to oil/gas and securities. He’s not only a lawyer but also a CPA and a serial entrepreneur.   “When you find yourself in a hole, quit digging because it never gets better.” Mark Pierce   Worst investment ever Looking for a new venture In 2004 Mark was living in Florida when he felt that he needed a break from practicing law. So he looked around for his next venture. Considering the aftermath of 911, Mark felt that anything involving military or government services was going to be a booming business. So he bought into this trucking company that provided moving services primarily to the military in Florida. Gold turns into dust Mark grew the company from $4 million to $20 million in a little over six years. And just as he was getting the hang of it, the world was hit by the financial crisis of 2008. Additionally, the US was hit by government shutdowns that were perpetrated by the tea party movement that went on at the time. Mark believed that his business could power through the crises, and so he kept soldiering on. Unfortunately, the company could not beat the two disasters. What had turned out as a smart investment went on to become Mark’s worst investment ever. He went from having a net worth of around $9 million to have a net worth of about one million dollars. Lessons learned Have a stop loss Always have your stop loss. Have a mark by which if your investment goes below that mark, you sell it no matter what and then reassess. Having a stop-loss order in place makes sure that you don’t lose too much should there be a downturn in your investment. Andrew’s takeaways Question your decisions If you’re in trouble or dealing with a struggle right now, whether that’s a personal or a professional fight, ask yourself, knowing what you know now, would you make the same decision? Let’s say this person walked up to you today, knowing what you know about them, would you start a relationship with them? Would you start this business if this opportunity appeared? If the answer is no, then you’ve got to get out. If the answer is yes, double down and make it work. Appreciate times of discomforts We must take some discomfort now and then to prepare ourselves for the worst. This makes recovering from the worst easier. Actionable advice Have people around you to give you advice. People who are disinterested in your business from a monetary investment standpoint, or they don’t have a family relationship. People who can look at you and say, “You know what, here’s what’s going on. This is what’s happening. I think you should consider these things.” If you get that, you’ll be able to make those calls because psychologically, you’ll have the backup, and you’ll know you’ve got that independent corroboration that allows you to think you’re right. So surround yourself with people who can give you harsh advice. Mark calls it the Dutch uncle syndrome. No. 1 goal for the next 12 months Mark’s goal for the next 12 months is to begin rolling out several new products into additional states and possibly raise a bit of money in a private equity function. This will allow him to build a bigger team than what he’s got right now. Rob has proven his business concept in four states, and it’s working very steadily. Now he’d like to bring some more people to take those products out and drive them in other states. Parting words   “Be optimistic, but be cautious and realistic. Surround yourself with good advisors. And when you get a good advisor, shut up and take their advice.” Mark Pierce   Connect with Mark Pierce LinkedIn Facebook Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast

Rob Angel is a speaker, author, and entrepreneur. He recently published his book, Game Changer: The Story of Pictionary and How I Turned a Simple Idea into the Bestselling Board Game in the World. In 1985, using a few simple tools, a Webster’s paperback dictionary, a No.2 pencil, and a yellow legal pad, he created the phenomenally successful and iconic board game Pictionary®. Putting together the first 1,000 games by hand in his tiny apartment, Rob mastered all the needed business skills, including sales, marketing, and distribution, before selling the game to Mattel in 2001. Today, he makes his home in Seattle where he is involved in philanthropy and mentors young entrepreneurs.   “It’s ok to miss an investment. I’d rather miss 10 great investments than go into one bad.” Rob Angel   Worst investment ever What do I do with all this money? When Pictionary® became a worldwide bestseller, Rob made a lot of money. He was about 28 years old at the time, and he had no idea what to do with the money. He reached out to a couple of friends who also had a lot of money and asked them for advice. Every one of them told him first to figure out what he wants for his life. So Rob took time and thought about it. He decided that what he wanted most was freedom. So every investment he made from then on was focused on giving him financial independence and freedom of time. Going against his investment vision About four years ago, Rob received a call from a friend with an investment idea that would make him 56X his investment in four months. Of course, it sounded too good to be true to Rob, but the guy spun him a story that captured his imagination, and also, he trusted this friend. Rob looked at the paperwork, and it didn’t make sense to him, but he just couldn’t help himself. His gut feeling pointed Rob at all the red flags, but his ego made him go ahead and invest in the idea. It was just a scam Rob gave his friend a check and sat back, waiting for his investment to kick in. When the day that Rob was to get paid came, he got nothing. He waited a couple of days, still nothing. After a few weeks, Rob went looking for his friend, but he was nowhere to be found. It was now quite clear that he had been scammed. Rob wasn’t too concerned with the money that he lost, but he was angry with himself for going against everything that he knows about himself and investing. He was mad that he had let greed lead him to make his worst investment ever. Lessons learned Listen to your intuition Listen to yourself and your gut instinct. Don’t let your brain and your ego override your intuition. Trusting your gut will save you from making your worst investment ever. Stay true to your vision When investing, stay true to your vision. Don’t let the excitement of the moment distract you from what you want to achieve. Plan for your success Don’t plan to fail; instead, prepare for your success. It’s ok to have a plan B, but plan for your success and what that looks like. Doing so will help dictate your business, your growth, and your investment strategy. Andrew’s takeaways Be open, aware and present Usually, we’re caught up in all of the excitement of the day, and we miss out on the opportunities around us because we’re not present and living in the moment. Look for inspiration around you We’re all standing on the shoulders of giants, and we get ideas from other people all the time. So be open to learning and drawing inspiration from people surrounding you. You might just get your next big idea from them. Invest for the long term Warren Buffett’s success in investing stems from his ability to watch grass grow. When investing, go in for the long term. Careful, thoughtful investing is just a simple long-term waiting game. It is not a game of excitement or buying and selling. Start investing early enough and let that grass grow. Learn to move on When you make a mistake, no matter what you’re feeling, happiness, joy, shame, etc., feel it, then move on. Don’t let it eat you up. Don’t let it ruin your next investment. Actionable advice Trust that little voice in your head. If you can get past that little voice, then go ahead and do your research. Then go ahead and see what the investment looks like. Listen to your intuition. We’re all smart, we all know what we need, and we all know what we want. Just pay attention to it and be disciplined about it. No. 1 goal for the next 12 months Rob’s goal for the next 12 months is to sell his book and have fun doing it. Rob is trying to sell Game Changer on Amazon. His goal is to talk more about what he did right and what he did wrong. Hopefully, it will resonate with people, and they can avoid some of the mistakes that Rob made. Parting words   “Just go out and do it. Find your aardvark.” Rob Angel   Connect with Rob Angel LinkedIn Facebook Instagram Website Email: info@robangel.com Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast Further reading mentioned Rob Angel (2020), Game Changer: The Story of Pictionary and How I Turned a Simple Idea into the Bestselling Board Game in the World

Don Moore holds the Lorraine Tyson Mitchell Chair in Leadership at the Haas School of Business at the University of California at Berkeley. His research interests include overconfidence, including when people think they are better than they are, when people think they are better than others, and when they are too sure they know the truth. He is only occasionally overconfident. He is the author of Perfectly Confident: How to Calibrate Your Decisions Wisely.   “We let ourselves get carried away when we think that somehow believing in ourselves is enough to ensure success. It’s not.” Don Moore   Worst investment ever Unleash the power within Don found himself at a Tony Robbins course, Unleash the Power Within that he believed would change his life. The life coach had been enormously influential in lots of people’s lives. Don had read his books as a young man and was thoroughly inspired. The four-day course challenges those in attendance to think big about their goals and their lives, to confront the challenges that are holding them back. To help them figure out how to break through those challenges so they can live their highest ideals and the best life that they could imagine for themselves. Walking on fire At the end of the course is the famous final firewalk. Before it started, Tony Robbins whipped the crowd into such a frenzy. The people in attendance were practically exploding out of the convention center, ready to walk across hot coals. They marched outside to find these huge burning pyres and embers laid with glowing coals that they were to walk on. Blinded by overconfidence In his enthusiasm, Don somehow failed to take account of the cautionary safety warnings that Tony Robbins had offered. Don was confident and ready to prove to himself and the world just how brave I was. So he marched bravely across the bed of hot coals. At that moment, overcome by enthusiasm and overconfidence, Don burned the hell out of the soles of his feet. It turns out that those glowing embers stick to the tender flesh. Tony Robbins had instructed them to get their feet hosed down and wipe them off thoroughly. But in his bravado, Don felt that he didn’t need to do all that. And so he suffered for his overconfidence. Lessons learned The time to take a pause is when everything is going right Whenever you find yourself feeling ready to cross the finish line victoriously, and you feel sure that success is guaranteed, that’s the time to take a pause and ask yourself, how might this go wrong? How might I fail, and is there anything I can do to protect myself now against those risks? What are the other competitors thinking about their chances? Learn to imagine failure When you’re confident that you can do it, that you can succeed, stop for a moment, and imagine failure. Imagine your investment has turned out to be a catastrophe, you’ve lost money, you’ve disappointed your investors, you’ve lost credibility in the markets, etc. Imagining failure can help you identify risks, and maybe help you think about ways that you can hedge those risks and avoid the full exposure of to those dangers. Have an accurate sense of what you can achieve Yes, it can feel good to be overconfident, but it can get you into a whole bunch of trouble. How confident should you be? You should be as confident as the truth can justify. Don’t be underconfident either Managing your confidence doesn’t mean you should sell yourself short or lower your aspirations. Many times people are underconfident, they decline to take risks, they fail to initiate relationships, to try new products, or take risky job positions because they’re afraid that they’ll fail. The imposter syndrome is all about underconfidence, the belief that we can’t do it when, in fact, we can. Andrew’s takeaways It won’t always be mind over matter Our mind is mighty, but there are times when the mind doesn’t help our body. Sometimes the mind will give the body a different signal. Confidence is just but a tool Think of confidence as a hammer. It can help you build a house, but you can’t build the whole house with one hammer. Confidence is a tool that has its limits but has its usefulness. Actionable advice Ask yourself why you might be wrong, and in doing so, consider the advice from your critic, your enemy, whose skepticism and grouchiness always grates on your nerves. That person has a gift of inestimable value to offer. Their negativity can help temper and strengthen the confidence you feel by injecting a little bit of reality in it. This approach has been called by psychologists the most general-purpose useful and powerful debiasing strategy there is. It invites you to consider what you’re neglecting. It encourages you to imagine how things could turn out differently. It helps you find other courses of action and think probabilistically about the uncertainties inherent in a complex future. No. 1 goal for the next 12 months Don’s goal for the next 12 months is to see his book, Perfectly Confident: How to Calibrate Your Decisions Wisely, get out in the world, and have an influence. It’s a message that he sees as particularly poignant at this time when overconfident world leaders have gotten their countries in so much trouble—calibrating our confidence about getting out into the world in the presence of a virus and how confident we can be about opening our economies up again. Connect with Don Moore LinkedIn Twitter Facebook Blog Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast  

Christopher D. Connors is the bestselling author of Emotional Intelligence for the Modern Leader and The Value of You. He is an author, executive coach, and keynote speaker who helps leaders increase their emotional intelligence, prioritize goals, and build thriving organizations. He works with executives and leaders at Fortune 500 companies, sports organizations, schools, and universities. His writing has appeared in CNBC, World Economic Forum, Quartz, CEO World, Virgin Media, Thrive Global, and Medium, and he’s been a guest on FOX and ABC TV programs. Christopher is happily married to his beautiful wife and is the proud father of three amazing, rambunctious baseball-loving boys. He lives in Charleston, South Carolina.   “Adversity is your best friend. In every adversity, there is always an opportunity that is going to come out of that.” Christopher Connors   Worst investment ever The big move Christopher grew up just outside New York City on Long Island while his wife grew up in South Carolina. They had been living in New York when the wife said she wanted to leave. And so they decided to relocate to Atlanta. Christopher wasn’t emotionally or mentally prepared to make a move, but he did it anyway as it was the right move for his family. Physically, Christopher was in Atlanta, but mentally, emotionally, and spiritually, he was still in New York. He was living this life where he was just struggling to put the pieces together. A thriving career While Christopher was struggling to adjust to the new life, career-wise, he was thriving. Christopher landed the most prestigious job opportunity he’s ever had. The job was very high paying, and he got to work with some of the top corporate clients in all of Atlanta, including Coca Cola, Delta, UPS, and the Home Depot. His head was just not in the game Despite having landed the job of his dreams, Christopher was still not settled and was struggling to adapt. He was still trying to figure out a little bit more about himself in terms of what he truly wanted to do. Even though on paper, this opportunity looked like a dream job, the more he went through it, the more he realized it wasn’t. Getting booted Christopher tried out a couple of different assignments that didn’t work. He just wasn’t able to employ emotional intelligence to be able to separate his personal life from his work life. About 10 months into it,  he was fired. Here he was less than a year into a move with a young son and a wife, and all of a sudden, he didn’t have an income coming in. It was a big blow to his ego because he had been successful in all of the other previous jobs that he had been in. Figuring his next move Getting fired was entirely unexpected for Christopher, but with a family to take care of, he had to bounce back soon. Christopher had always had this burning desire to write and coach just lying underneath the surface. He had treated them as hobbies for so long and just doing it a little bit of on the side. Now that Christopher had time on his hands, he started to build up a little bit more, and with time he turned it into a fulltime venture. Christopher admits that his poor performance in this lifetime job opportunity remains his worst investment ever; however, he’s thankful that it happened because he mustered the courage to kick the fear of venturing out entrepreneurially in the butt. Lessons learned Adversity is your best friend Don’t fear pain and failure. With every adversity, there’s the opportunity or the equivalent seed of an advantage. Learn to see opportunities within your adversities, and you will thrive. Developing emotional intelligence Life will always have its shortcomings. By developing emotional intelligence, you will be able to turn every weakness into a win. Without emotional intelligence, you will always let pain, failure, loss, and other adversities hold you back. Be proactive Start taking the initiative to go after the things that you have the skills for, but have previously been too afraid to do. Your success depends on the actions you take today. Plans are nothing; planning is everything Have a plan in life and take action to turn those plans into reality because plans are nothing planning is everything. Know that plans will change, but that doesn’t mean that you shouldn’t plan. Move from thinking to doing Make all of these things that you’ve always believed that you can do actionable. You need to move from just thinking and talking about these things and start doing them. Muster the courage to start putting your ideas out there, and you may just surprise yourself. Andrew’s takeaways It gets hard before it gets easy Sometimes we just have to hit rock bottom to become our best versions. It has to get hard enough and painful enough for you to decide that you’ll do something different. Our adversities make us who we are It is our adversities, our struggles, our mistakes, and our losses that spur us to new opportunities. Actionable advice First, listen to your heart about what you truly want to do. Second, don’t live in the past; be willing to adapt. No. 1 goal for the next 12 months Christopher’s number one goal for the next 12 months is to be a great dad. The couple just welcomed a newborn child into the world. From a professional standpoint, Christopher plans to continue building his coaching business and working with people that he deeply admires in a variety of industries. He also has some ideas for a third book coming up and has started laying the foundation for that. Parting words   “Follow your heart and intuition. Mix this with a plan that’s coupled with the talents, skills, and experiences that you have. Then just go for it.” Christopher Connors   Connect with Christopher Connors LinkedIn Twitter Instagram Facebook YouTube Blog Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast

Libby Gill is an executive coach, leadership expert, and best-selling author. She guides emerging and established leaders to inspire purpose and drive performance. She is the former head of communications for Sony, Universal, and Turner Broadcasting, and her clients include Bank of America, Capital One, Disney, Ernst & Young, Intel, Microsoft, and many more. She has been featured on the CBS Early Show, CNN, NPR, the Today Show and in the New York Times, Time Magazine, and The Wall Street Journal. She’s the author of six books, including the award-winning You Unstuck. Libby’s latest book is The Hope-Driven Leader: Harness the Power of Positivity.   “Leaders ask questions that propel them into new opportunities. Managers answer questions and get the job done for those who have the vision.” Libby Gill   We’re going to change the format a little bit today because Libby has gained a lot of experience as a leadership expert through coaching, working with teams, and writing books about it. Since we’re at a critical time for every leader out there to figure out how to survive and thrive, we’ll jump straight to the lessons and nuggets of wisdom that Libby has collected along her career path. Libby started her career in communications working for various entertainment studios. In the process, she grew up the rank to become a young leader. After a while, Libby realized what she wanted to do was to continue to grow teams, which she had done a lot as a leader. She read an article in Newsweek about executive coaching and took great interest in it. Libby then started working with people in executive coaching, then she went on to writing books and speaking in big forums. Her career in executive coaching just continued to grow. It’ll be 20 years this fall since Libby started. Lessons learned A business needs both leaders and managers to succeed You need people at different levels in your business. Leaders and managers play different roles in the success of a business. Leaders ask the questions that get the business new opportunities, while managers answer the questions. Leaders provide the business vision, and managers get the job done. Business vision, passion, and drive will get you to success You can win a battle even when you are outnumbered as long as you have a vision, the drive, and the passion for winning. As a business leader, beat your competitors by looking for gaps where you might have slipped off the market and create your competitive edge. If you’re just starting, figure out the most important thing and focus on that. But remember not to spread yourself too thin. The curse of the visionary Most leaders tend to have a hard time focusing on one area, so they find themselves with too many ideas and too little time. Try and focus on one area. Before you think of implementing more than one idea, first ask yourself if you have a financial base under you. Then, how long can you play this out and how long can you get away with trying out your many ideas without your business collapsing or depleting your funds. The hope theory Hope theory is all about having a vision of the future that may be wildly ambitious but is attainable. So to achieve this vision first, have clarity around it. Second, simplify the path to getting there. Consider what you must get out of the way, such as false hope or wrong ideas, bad habits, the wrong people. Third, execute the plan. We can all have our visionary ideas all day long, but it comes down to who’s going to get it done. Effective leadership is, therefore, about having a clear vision, perseverance, correcting the course, and continuing to move towards your vision as long as it stays true to what’s in your heart, your mind, and your gut. Have a fundamental belief that change is possible Not everybody believes that change is possible. There are plenty of people who are always justifying their defense of the status quo, and they’re going to stay exactly where they are forever. But as we move to an age that’s beyond the information age that’s about ideas and imagination, we need to be able to carry out those visions. It all becomes possible by having a fundamental belief that change is possible. Link belief to behavior When you link belief to behavior, that’s where the magic happens. If you link belief to behavior and the vision, then you’re going to act your way to achieving your vision. Actionable advice As a business leader, reach out for support. Some people perceive asking for support as a weakness, but it’s a tough time, and we got to open up ourselves to receiving help and support. No. 1 goal for the next 12 months Libby had been moving much of her business online before the lockdown started. Her number one goal for the next 12 months is, therefore, to build online coaching programs and to move to the virtual world, which allows her to touch people in all kinds of countries and places. Libby just started a writing group for people that need accountability and support while they write. They get together on a video platform to touch base and help each other stay focused. Parting words   “In the immortal words of Robert Louis Stevenson, ‘It is better to travel hopefully than it is to arrive.’” Libby Gill   Connect with Libby Gill LinkedIn Twitter Facebook Instagram YouTube Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast Further reading mentioned Libby Gill (2018) The Hope-Driven Leader: Harness the Power of Positivity

E.B. Tucker is the former editor of The Casey Report, Strategic Investor, and Strategic Trader. He is a board director and major shareholder of Metalla Royalty & Streaming (NYSE:MTA), a gold royalty company. He is the author of Why Gold? Why Now? The War Against Your Wealth and How to Win It and has more than two decades active in capital markets.   “It’s okay to get a bruise, but don’t get completely broken.” E.B. Tucker   Worst investment ever About 17 years ago, E.B. was trying to get into the world of finance, but he kept hitting walls. Everyone wanted to hire him as a sales rep because of his charismatic nature. However, E.B. wanted to manage money not to be a salesman all his life. So he kept trying. Lady luck came calling Finally, in 2006, one of E.B.’s friends told him about a guy he’d met playing golf, who was trying to restructure his company. The guy was looking for a sales V.P. The position came with an equity position right away. To E.B., this sounded like a winner. What the heck did he get himself into? E.B. got to learn that the company was not trading on the primary exchange and wasn’t compliant with its filings. Therefore, people could buy stock in it, but they’d not be buying the stock in the New York Stock Exchange. They’d just be buying it on an off-market. Getting his friends to invest in the company The company claimed to have natural pest control and was raising money to get the product off the ground. E.B. introduced some of his friends who invested about $150,000. He then went out to meet the CEO at their facility, and this was a disaster. E.B. found the CEO strange and was like some kind of cartoon character. He came back a little bit put off by this, and his gut feeling told him that this CEO was not straight. He’d been scammed A week later, he found out that the company didn’t have the federal EPA licenses that they claimed to have in the presentation to investors. Worse still, E.B. found out that the permit they claimed to have did not even exist, so the whole thing was made up. On top of that, they had already spent the money that E.B. had raised. He couldn’t tell how it had been spent to help the business, though. When he realized that the company had real issues, E.B. went to the guy who got him in and told him about the problems he’d noticed. The guy dismissed him and didn’t want to have that conversation with him. It seemed apparent that the guy knew what was going on. Making things right The company stopped paying E.B. when he brought these issues up. He was there only two weeks before they cut him off. E.B. decided to hire a lawyer to represent him in documenting all these issues. The lawyer wrote a letter documenting all the fraud that E.B. had found and sent it to the board’s certified mail. This cost him about $10,000. Next, E.B. hired another lawyer who was excellent at figuring out how to get his friend’s money back in about six months. This was quite a tough time for E.B. because he had the best of intentions and was just trying to break into the finance field. Lessons learned Go with your gut When people are pitching all sorts of ideas to you, do your research, ask questions, but don’t forget to listen to your instincts. Invest small at first If you’re not sure whether an investment is right for you, but you want to try it anyway, go in small. If things work out, you can always invest more later. Don’t feel pressured to invest all of your money, especially when your gut feeling tells you that there could be a problem. Don’t let people intimidate you Let go of the investment whenever you feel intimidated by someone that’s pressing you to invest. Don’t be afraid to take risks Take risks. You have to be in the game to win. But pull back, especially if your instinct tells you there could be something wrong. Andrew’s takeaways Do your research BEFORE you invest Most people fail to do their research before investing and, oftentimes, do it after investing. Assess and manage risk The best way to manage risk is to reduce your investment size. You may have failed to assess the risk, but if you manage it well, the damage isn’t going to wipe you out. Don’t invest under pressure If somebody is pressuring you to invest, you got to step back, because either they’re desperate for money, and that’s a problem, or they’re manipulating and lying to you. Actionable advice Go, but go carefully. Take risks, but don’t forget to be careful not to risk everything. No. 1 goal for the next 12 months E.B.’s number one goal for the next 12 months is to walk 10,000 steps every single day 365 days of the year. He’s already doing it, and he’s never felt better! Parting words   “We’re all on our journey, but we can learn from each other.” E.B. Tucker   Connect with E.B. Tucker LinkedIn Twitter Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast

Laura Cho is an International Certified Coach and Founder at Laura Cho Intl. coaching millennial talents to build a successful career by unleashing their full potential with her HR expertise. She is a public speaker sharing HR and career topics on various stages in Hong Kong, Singapore, Cambodia, and Myanmar at universities, radio shows, online platforms, journals, and public seminars. She has been featured in Stories of Asia, The Myanmar Times, Human Resources Magazine (Hong Kong), and 7Day TV.   “The best investment you can make is investing in yourself in the right way.” Laura Cho   Worst investment ever A hunger to be good at what she does Three and a half years ago, Laura started a side hustle as a career coach. To do it successfully, she had to pick up several skills. She was eager to learn anything that would help her. Buying her first online course Laura came across a Facebook ad by a lady living in Hong Kong. The online coach was offering a free business plan. Laura was impressed by the lady’s copywriting in the ad and by what she was promising. Being from Myanmar, Laura believed that the lady from Hong Kong had more knowledge and, therefore, the right person to learn from. So without taking some time to think about it, she invested in the lady’s course. The credit card privilege The course was quite expensive, especially since she had to pay in USD. But because she had a credit card, she spent anyway. All talk no action After Laura started the online course, she soon realized that the coach was just full of air and wasn’t walking the talk. The course offered Laura zero value. She did not learn a single new thing in that class. Whenever she tried to ask questions, the coach would dismiss them as stupid questions. Laura was devasted. And to imagine all the money she had paid! Freeing herself from the guilt Laura couldn’t help but feel angry for allowing herself to make the worst investment ever. She was mad at herself for not taking the time to research the course. Or at the very least see what other people were saying about the course and the trainer. She carried this anger for a while, and it prevented her from trying out any other courses. She realized that she was shortchanging herself and so she forgave herself and moved on from the terrible experience. Lessons learned Get to know the trainer before buying an online course There are very many coaches and trainers today. So, before you invest in someone, take some time to learn about that person. Follow the trainer for some time and interact with any free content they share and read reviews from their past clients. This will let you know if you can trust the trainer or not. Calculate the return on investment Before you invest in an online course, ask yourself what will be the return on investment. How will the course benefit your career or your side hustle? Not all ‘good’ trainers are good for you People have different levels of experience. Just because an advanced student says a trainer is good doesn’t mean the trainer will help you too. Understand your needs first Why do you want to buy an online course? What do you hope to achieve from taking an online course? You have to know your needs first before you invest in your personal development. Andrew’s takeaways Do your research The number one mistake people make when investing, whether in business or themselves, is failing to do their research. Don’t buy online courses blindly, research them first to make sure you invest in the right ones only. Build trust You’ve got to build trust first before buying that online course. You can do so by engaging in the trainer’s free content first and see if they offer you any value. If yes, then go ahead and buy the course. Get the money-back guarantee Only buy courses that have a no questions asked 100% money-back guarantee. Make sure that guarantee is clearly stated. This gives you a chance to get your money back should you not be satisfied with the course. Ensure the online course is the right level for you If you’re a beginner, take a beginner’s course. If you buy an advanced course, it is not going to work, and it will be a bad investment. Be ready to implement what you learn Don’t waste your money if you are not ready to implement what you’re going to learn. Actionable advice Take time before you press that buy button. Think about why you want to buy that course and ask yourself if you have the time to put what you learn into action. No. 1 goal for the next 12 months Laura’s number one goal for the next 12 months is to upgrade and equip herself with more business knowledge. Laura wants to flip her side hustle around into a fulltime business and to do so; she needs to pick up a lot of business skills. Parting words   “Keep investing in yourself, and it will pay off over time. But make the right investment.” Laura Cho   Connect with Laura Cho LinkedIn Instagram Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast  

Darin Kidd is an entrepreneur who has achieved success in various arenas. He was a leader and multiple-seven-figure earner in the network marketing profession, building massive teams all over the world. He has owned profitable franchises and has built his online digital brand, which is now consumed by hundreds of thousands of followers on social media. He has been featured in various magazines and books, was on an advisory council with John Maxwell, and has been interviewed by Grant Cardone on Grant Cardone TV. Currently, he is a speaker, trainer, and mentor for others. However, he was not always a successful businessman. Over 20 years ago, he was bankrupt and felt like a failure. He managed to emerge from that experience with a unique perspective and an “I Will Until” attitude on life. He genuinely wants to help people “be more, do more, and have more” in their life.   “It’s about progress, not perfection. Just get a little bit better every single day.” Darin Kidd   Worst investment ever From debt-free to bankruptcy Darin got successful in his early 20s. Everything was going superbly well. He was debt-free, had money in the bank, 401k, some investments, and more. One day someone moved into Darin’s town, and after some time, he convinced Darin that if he paid him up front, he could build his dream home for him for a lower price. The deal sounds too good to be true? It was. The dude walked off in the middle of the construction, and everything he had done to the house was off. And just like that, Darin went from debt-free, perfect credit, money in the bank, 401k, and new cars to bankruptcy and a repossessed car. He couldn’t feed his kids or support his wife. Darin’s family was now on government assistance, Medicaid, and applying for food stamps. Darin went from a successful businessman to a depressed man. The turning point Darin’s family had this big Coca-Cola plastic piggy bank, which they were putting change in. Darin had promised his daughter that someday they’d go to Disney World. One night, after losing everything, Darin and his wife were in their bedroom when the daughter walked in. They had dumped out the piggy bank and were going through the change to try to get enough to buy something to eat. The daughter ran out of the room, crying and saying dad had taken her money for Disney World. Darin was so devastated and couldn’t believe how low he’d gone to the point of stealing money from his kids’ piggy bank. It was at this moment that he decided it was about time he took action and start building a better life for his family. This was when he took on the “I Will Until” attitude on life, which helped him rebuild his life and become the now-renowned successful businessman he is. Lessons learned Obstacles lead to elevation It’s not the easy times that make us grow but the difficult times. There’s no elevation without obstacles. So appreciate the challenges and learn and draw strength from them. Learn the compound effect Practice getting a little bit better today than you were yesterday because the simple things you do daily that seem insignificant compound over several years and completely change you. Do what others are not willing to do Do what unsuccessful people are not willing to do. Do today what others want to do tomorrow, and success will follow you. You become who you hang out with Your associations, like an elevator, either let you up or bring you down. So always ask yourself what your associations do or are doing for you. Andrew’s takeaways Never compare your insides to other people’s outsides Always remember that people are suffering inside, no matter how successful they seem. They are in pain and facing one issue or another. People, however, tend to see their own pain more clearly but don’t see other people’s pain because you only see their outsides and not their insides. So don’t let what you think you know about people intimidate you or hold you back. Actionable advice Invest in yourself. We don’t make what we want; we make what we are. If we want to make more, we have to become more. So don’t try to figure it out yourself. Find a mentor or a coach to walk the journey with you. No. 1 goal for the next 12 months Darin’s number one goal for the next 12 months is to impact over 1 million lives through consulting, coaching, training, mentoring, and courses. Parting words   “Be persistent, consistent, have a good attitude, and remember progress, not perfection. The best time to quit on your goals is never.” Darin Kidd   Connect with Darin Kidd LinkedIn Twitter Facebook YouTube Website Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast

Chris J Reed loves to share his uncensored, polarizing, and authentic thoughts on a variety of business topics on LinkedIn and for Forbes, where he is an Official Forbes Business Council Member. He is a quadruple international best-selling author on the subjects of LinkedIn, Personal Branding, and Social Selling, and he is infamously known as “The Only CEO With A Mohawk,” recognized globally by his notorious pink mohawk!   “You gotta have some kind of elevator pitch or icebreaker on LinkedIn, just like in real life.” Chris J Reed   Worst investment ever Replicating success Chris created Black Marketing, which became an instant success. With this successful experience, he believed that he could do it again, so he started another marketing company. However, it wasn’t as successful, but luckily he was able to sell it off after a couple of years. Believing in his hype After selling his second company and making money off it, Chris had it over his head that he could start a third company. He created another company, The Dark Art of Marketing, that was linked to LinkedIn marketing focusing on PR. He employed people and invested in office space, branding, marketing websites, the whole nine yards. For the first couple of years, it worked to a degree, but then the revenue dwindled. Chris decided that the solution to the now not so successful company was to create another company aimed at bringing female keynote speakers to the fore. Too much to handle What Chris didn’t realize was how challenging the market he had entered was. No one wanted to pay him for his services, but he managed to negotiate for commissions. He also, soon enough, realized that he had hired the wrong people who could barely deliver on promises. After six months, Chris figured this business was a sinking ship and closed it down after investing a million dollars. He went back to the basics and put his focus on Black Market that was still successful. Lessons learned Double-check your ideas Every single thing you do bounce it off to about 10 entrepreneurs before you start it. Don’t listen only to your instincts; listen to the right people too. Be a more cautious entrepreneur Practice being more conservative and calculating in terms of what you can win and what you can lose. Always weigh up the pros and cons. be much more conservative and calculating Andrew’s takeaways Powerful personal branding gives you a powerful platform Personal branding makes a lot of difference in your business success. You have more power if you have a strong brand. Go back to the fundamentals When looking to expand or start a business, go back to where you add the most value, and refocus on that and build on that. Actionable advice Do a better analysis of the markets. Ask for advice from people in those markets, but not people who are competitors. Then decide how much money you can lose on the venture, be prepared to lose it all and then ask yourself if it is worth it. No. 1 goal for the next 12 months Chris’s number one goal for the next 12 months is to focus on his company Black Marketing. He’s been streamlining the business and is now looking at how he can help entrepreneurs grappling with the COVID-19 pandemic, to see it as an opportunity. Parting words   “Go for your personal branding. Go for your LinkedIn marketing. Don’t underestimate branding yourself; do it for free. 95% of people can do it for free. If you don’t have time to do it, turn to us. Find me on LinkedIn with a Mohawk.” Chris J Reed   Connect with Chris J Reed LinkedIn Facebook YouTube Website Blog Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points Andrew’s online programs Valuation Master Class How to Start Building Your Wealth Investing in the Stock Market Finance Made Ridiculously Simple Become a Great Presenter and Increase Your Influence Transform Your Business with Dr. Deming’s 14 Points Connect with Andrew Stotz: astotz.com LinkedIn Facebook Instagram Twitter YouTube My Worst Investment Ever Podcast