BIO: Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California.STORY: Eric always played it safe by investing in conservative low-list investments. This made him miss out on huge investments.LEARNING: Understand and manage your investment risk. Stop making excuses and start saving and investing by making regular monthly contributions. “Let your money be something that helps you live the life you want. Not the reason you can’t do the things you want.”Eric Rosenberg Guest profileEric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. He recently passed the five-year mark of self-employment.His work has been featured in online publications, including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.Worst investment everEric graduated from college in 2007 with a finance degree. He came out of grad school into the beginning of one of the worst economies.The conservative investorEric started investing with a lot of very conservative investment ideas because he was nervous about losing. He had taken Warren Buffett’s advice of not losing money to heart. He concentrated on making long-term value investments that are low-risk.This way of investing saw Eric not make many investments that would have made him a lot of money.The WWE stockOne of the most notable investments that Eric missed out on was the WWE stock. While in school, Eric did a presentation on the WWE stock. He argued that this was not just about muscle men fighting, but it was actually a very profitable business. However, the class voted not to buy it.But Eric was convinced enough, so he bought WWE stock worth about $300. Initially, it went way up, and it was doing great. Then all of a sudden, it was not doing so great. He ended up selling it for a modest loss. It wasn’t a big one.But later on, Eric learned that his research was pretty much spot on because the stock eventually returned multiple times over. If he hadn’t sold it and had just held on and rode it out for another couple of years, it would have turned profitable.The Teva pharmaceuticals stockAnother stock that Eric sold for a loss was Teva pharmaceuticals. He didn’t do an in-depth financial analysis on this stock as he usually did. This is because he is very passionate about Israel, so he went with his emotions. He invested about $800, but the stock never did well.Lessons learnedUnderstand and manage your investment riskEveryone has a different risk tolerance. Understand what your tolerance is. If you always get sick to your stomach every time you think of losing money, you probably don’t want a very risky portfolio. If you get excited at the idea of taking on risky ventures, then maybe you can invest a little bit riskier. But understand and be in...

BIO: Kizzy Parks helps service-based small business owners learn how to win profitable federal government contracts using her powerful CTC technique.STORY: Kizzy learned of a $40 million opportunity to provide training and curriculum development across the federal government. She put everything else on hold and focused on preparing her business to win the project. She spent $600,000 on various business resources because she was sure she would win the project. The government didn’t put the project up for bidding to her disappointment, so she never got it and was left in debt.LEARNING: First, sell your product, then build it. Understand your advisor’s motivation and always think through and question advice given before you apply it. “You have to think about the intent behind the people who are cheering you along. What are they getting out of it?”Kizzy Parks Guest profileAs a kid, Kizzy Parks would clean golf balls in an alley behind her friend’s house and resell them through a fence to the nearby golfers and use the money to buy snacks.She always knew she’d become an entrepreneur and earn an advanced degree in psychology. Her entrepreneurial spirit meshed well with her inquisitive nature as an adopted child who always wanted to meet her birth family, which she eventually did. She started K. Parks Consulting over a decade ago and during that time earned a Ph.D. in psychology.Today, she owns and operates multiple businesses, and she has won more than $50 million in government contract awards. Through her business, GovCon Winners, she helps service-based small business owners learn HOW to win profitable federal government contracts using her powerful CTC technique.Worst investment everKizzy came across a $40 million opportunity to provide training and curriculum development across the federal government. At that time, Kizzy’s company provided work to the incumbent. But the word on the street was that they wanted to work with somebody else, but her mentors and advisors told her to go for it.Making sure she was ready for the winKizzy spent money on all types of resources on business development so that she could win this work. She even hired a business developer who kept pushing her on to go for the bid. Kizzy put everything else on hold and concentrated on winning this project.Kizzy started looking for facilitators and curriculum developers, and it was just piles upon piles of cash being spent toward this $40 million opportunity because she thought, well, why not? What is $600,000 compared to 40 million?Kizzy believed that she could do this because she was already doing the work. She was ready to take over the job from the incumbent.The disappointing outcomeAfter all the work she’d done and all the money she had spent building her business readiness for this government project, Kizzy found out that the federal government decided to go a different route. They weren’t going to put up the opportunity for competition.Kizzy ended up with team members that she didn’t need and $600,000 in debt.Lessons learnedDo not build before you sellIt may seem like the right thing to do is to build the perfect product first before you start selling. However, if you want to succeed, sell before you build.

BIO: As a father of five, Dean Brown empowers professional dads to work fewer hours per week while generating more revenue and having more fun while doing it.STORY: Dean had just lost a high-income job when his friend approached him with an investment idea. The friend wanted him to finance his business idea and get a return on it. Because he trusted his friend and was looking for investment opportunities, Dean gave him $150,000. He’s never received a penny from the business.LEARNING: Do not hand your money to anyone without a legal contract. First, understand the investment and the risk involved. Don’t be the sole financier of an investment. “Get lawyers involved, don’t just hand money over to anyone, even for a friendship.” Dean Brown Guest profileAs a father of five, Dean Brown empowers professional dads to work fewer hours per week while generating more revenue and having more fun while doing it.Working with Dean, they will learn to face their suppressed emotions, limiting beliefs, self-denial, and self-sabotage to better embrace life without guilt, anger, fear, or hate while manifesting their highest vision of peace, love, and profit with their family and in their business.Worst investment everDean had always been an employee, even though he often toyed with the idea of becoming a businessman. He was an outstanding employee who quickly rose to the top in every job he ever had.Getting thrown into the deep endIt was not until he lost his most prolific job, where he earned over $100,000 a year in 2008, that he had to start learning how to build a business. He now had to think of the best ways to invest under these circumstances.An investment idea from his trusted friendDean had this good friend who had a great vision and worked on it for a very long time. His enthusiasm was deep and engaging. Dean had a lot of faith and trust in what his friend was doing.One day Dean’s friend asked him to help him take this idea to the next level. He had developed a one-of-a-kind invention and now needed to manufacture it. However, he needed cash to do it.Giving his friend money, no questions askedDean had some money to invest, and because he trusted his friend, he gave him $150,000 there and then. He transferred the money into his friend’s account, and they agreed that Dean would get a return on the investment, and then they shook on it. That was eight years ago. Dean is yet to see a penny.Lessons learnedAlways have a contract, even where it involves friendsGet a lawyer to write a contract for you before you hand anyone money—including your friends.Understand the investment and the risks involvedBefore you spend any money, be aware of what you’re investing in. Make sure there is an agreement stipulating what you will gain from the investment.Andrew’s takeawaysA good investment starts with trustTrust is vital when it comes to investing. Before you give your money to anyone, make sure that you can trust them. Once you build trust, take the next step and evaluate if the idea is good. If the idea is good and you have trust, then now you can execute the idea.Don’t be the sole financier of an investmentAvoid investments where you’re the only one providing the capital. Be sure that the business has sustainable finances before you get in.Actionable adviceDon’t take people’s advice at face...

BIO: Marcus Udokang is an IT consultant, writer, and presenter. He specializes in project management and business analysis.STORY: Marcus was working for a company that was open to investors. Because he trusted his company and had met many other happy investors, he decided to invest. Unforeseen circumstances brought the value of the investment down, and he never made much out of it.LEARNING: Do thorough research, diversify your portfolio, and start small. Have a devil’s advocate or a sounding board for your investment ideas. “Research the market to be aware of unpredictable financial forces and be vigilant and disciplined when it comes to making, spending, and saving money.” Marcus Udokang Guest profileMarcus Udokang is an IT consultant, writer, and presenter. He specializes in project management and business analysis; specifically, business applications, requirements analysis, and business process management. He has worked in various industries, including Financial Services, Oil and Gas, and IT Training/Education.He’s also the host of The Inquisitive Analyst Podcast and YouTube channel that focuses on the triumphs and challenges within the areas of project management and business analysis.Worst investment everMarcus was working for a certain company that was open to investors. Due to his trust in the company, he figured it was a good investment opportunity.Encouragement all around himAt the time, many people had invested in this company, and they had reaped good returns. There were so many happy investments all around. Marcus even met one at a car dealership where he had gone to buy a car. As they were getting to know each other, Marcus mentioned that he worked at the company. The guy told him excitedly how he had put in money in the company, waited for 10 years, and got his money.A good friend of Marcus’s also told him of how he had put money in the company, cashed out a few years later, and made good money. Now Marcus was totally convinced that this was a good investment opportunity.It just was not the right time for himMarcus invested in the company and waited to start receiving dividends. Unfortunately, due to uncertain market forces beyond his control, troubling economic times, a bit of happenstance, and negligence on the company’s part, the investment was sold and resold several times to different investors. This caused the investment to devalue, and eventually, it became worth almost nothing.Lessons learnedTake your time and do your market researchThink twice before you invest in anything. Do thorough research to understand the investment and to ascertain the level of risk involved.Diversify your investmentsDo not put all your money into one investment. Invest in several options to manage your risk better.Start smallOnce you have done your research and found a couple of different ways of building a diversified portfolio, start small, then grow over time.Andrew’s takeawaysHave a devil’s advocate or a sounding board for your investment ideasHave someone that you can trust who will help you look at all the reasons you shouldn’t invest in the ideas that you come up with. Such a person will be your voice of reason and help you help better decisions and avoid making investment mistakes.Understand the difference between managing and assessing...

BIO: Fernando LoFrano is a Brazilian IT executive, promoter, and consultant in Digital Transformation, acting as an agent of transformation in organizations, impacting the transition of business models and operations to the new digital age.STORY: Fernando got into a partnership with a friend with whom they shared different views on business and success. Fernando was an ambitious entrepreneur hungry for challenges and quick success, while his friend was a family man working towards long-term success. Their differences made their business fail after only four years.  LEARNING: Think through your partnership, especially if it will affect your friendship, express your expectations from the beginning, and respect and value your friendship even as business partners. “Find partners with different skills, but with the same desire to achieve success.”Fernando LoFrano Guest profileFernando LoFrano is a Brazilian IT executive, promoter, and consultant in Digital Transformation, acting as an agent of transformation in organizations, impacting the transition of business models and operations to the new digital age.As one of the most influential in information technology in Latin America, he is an IT Governance Specialist with an MBA in Project Management.He is the author of The Role of Project Management in Digital Transformation.Worst investment everFernando started his entrepreneurship journey when he was 22 years old. Along the way, he decided to focus his business on IT solutions.Getting his friend onboardRefocusing his business was proving to be tough, and so to achieve his goal, Fernando decided to get a friend to partner with him. His friend was 26 years older than him.The unlikely pairIn the beginning, the new business plan sounded like poetry. But over time, things got hard. It became clear that the two partners had different motivations and expectations from the partnership.On the one hand, Fernando was a young, ambitious entrepreneur hungry for challenges and quick success. On the other hand, his business partner was a family man with other business commitments and working towards long-term success.The inevitable clashTheir different expectations led to numerous arguments and disagreements. So much so that the partners decided to go separate ways four years later.Lessons learnedThink through your partnership, especially if it will affect your friendshipFernando learned three important things from his business partnership:It is imperative to think through partnerships before getting into one.As you choose a partner, especially if it is a friend, consider how that partnership will affect your friendship.Empathy is critical when dealing with a partner.Andrew’s takeawaysExpress your expectations from the beginningEveryone goes into a business project or startup with different expectations, hopes, and fears. When partners don’t understand each other’s fears, hopes, or expectations, then it’s almost guaranteed the partnership will fail.Respect and value your friendship even as business partnersEvery partnership has moments when partners fight or argue about things. If you value your friendship, make sure that you stay respectful of each other even during such moments.Actionable...

BIO: Lois Koffi is a professional speaker, sales trainer, coach, and Ironman Triathlete who has coached thousands of people in business and healthy lifestyles for the last 22 years.STORY: Lois got into real estate at 21 years and did pretty well for herself until she blindly got into a business partnership with her friend. They put everything in their mortgage business but soon enough lost everything to creditors.LEARNING: Choose your partnerships carefully and understand the risks of debt. “Discipline your disappointments and never give up.”Lois Koffi Guest profileLois Koffi is a professional speaker, sales trainer, coach, and Ironman Triathlete who has coached thousands of people in business and healthy lifestyles for the last 22 years.She pivoted, like many in 2020, without having an email list or podcast or tribe online–having focused on face-to-face sales for over 20 years.She went from 0 sales online to 5 figures a month in less than 6 months with permission-based lead generation online, and now coaches, affiliate marketers, and speakers hire her to do the same–pivoting in 6 months guaranteed to live their best life. She now is at multiple five figures a month in 9 months of starting at ground zero online.She loves affiliate marketing as well and is really passionate about sharing her story and resources through her top 20 podcasts.Lois has generously offered her Free Course (Promo Code: MASTERY) on permission-based lead generation to My Worst Investment Ever podcast listeners. Check it out.Worst investment everLois got into real estate at 21 years and quickly got to multiple six figures. This made her set the goal to be a millionaire by the time she turned 30.Building up to her dreamLois got serious about real estate and built a sales team to help her achieve her dream. She later started a mortgage company with a friend but didn’t put much thought into the partnership. She figured that because she was a friend, it was ok to partner with her. This was around 2005, and at this point, everyone was getting into the mortgage industry.Putting all her eggs in one basketAfter the partnership, Lois put all her efforts and investments into real estate. Then everything went south. Her business partner skipped town when things got bad. Everything in their business was guaranteed in Lois’s name, and so all the creditors came after her.Instead of becoming a millionaire at 30, Lois found herself bankrupt and homeless. Her car got repossessed the day before her 30th birthday. This was the last possession in her name. Her cell phone had been turned off, her bank accounts cleaned out, and her credit was destroyed.Going through traumaThe experience destroyed Lois’s self-worth and identity. Depression and anxiety set in, and she even had suicidal thoughts. She lived in fear and guilt because she could no longer pay her bills.Luckily, Lois was able to rise above her woes and went on to build a successful business that she’s running to date.Lessons learnedChoose your partnerships carefullyBefore choosing a partner, slow down and ask yourself if this is truly in your best interest. Consider if they are the right partner. If you are not sure you can seek counsel from other people, make sure they are qualified to help you make this decision.Don’t let your disappointments hold you backDiscipline your disappointments and never give up. Take every disappointment as a lesson and ask yourself what you can...

BIO: Dr. Benjamin Ritter is a leadership and career coach, values geek, regional learning manager for Young Presidents Organization (YPO), national speaker, podcaster, author, mentor, and is passionate about guiding others in finding, creating, and sustaining a career they love.STORY: For a very long time, Benjamin worked different jobs trying to find an employer that would give him the satisfaction he was craving. It was only years later, and after doing a couple of jobs that left him unhappy, he realized it doesn’t matter where he works. What matters is how he works and how he thinks about his work.LEARNING: To have job satisfaction, you must change the way you perceive work and the value you take away from it. Live each day with intention. “You are not a product of where you work, but you can make the work a product of you.”Benjamin Ritter Guest profileDr. Benjamin Ritter is a leadership and career coach, values geek, regional learning manager for Young Presidents Organization (YPO), national speaker, podcaster, author, mentor, and is passionate about guiding others in finding, creating, and sustaining a career they love.From empowering young professionals to get unstuck, guiding senior leadership on how to stand out from the competition, and developing executive presence, Ben is an expert in his field and will guide you toward truly living for yourself at work and in life.Worst investment everBenjamin wanted to be a professional athlete when he was younger, so he never imagined himself sitting behind a desk working the nine to five. He also had a dad who was an entrepreneur, and he would take Benjamin on home remodeling jobs. A traditional job was, therefore, not on Benjamin’s mind when he was growing up.Trying to find his purposeSo when it was time for Benjamin to join the workforce, after not becoming a professional athlete, he didn’t know what he wanted to do and where he wanted to do it. But he ended up finding a couple of things he was passionate about.Benjamin got involved in public health policy and entrepreneurship in a variety of ways. He ended up in healthcare administration, an area that he never thought of. But he was happy to have a job where he was creating real direct outcomes for people. He did this for seven years.Successful but unhappyWithin the seven years Benjamin worked in healthcare, he got promoted to an executive-level position and was on the road to becoming a higher-level executive or CEO.Even with all this success, Benjamin was unhappy to the point where he stopped volunteering for work. He just did as little as possible to get by. He felt stuck, unfulfilled, and dreaded his job. This dread leaked into Benjamin’s work, romantic, and family relationships. He was walking around this dark cloud over his head. He walked into the office one day and realized just how miserable he was. It hit him that this was not how his life was meant to be.Stepping backBenjamin realized that he needed to step back and see the bigger picture. He finally realized that he thought that his organization was supposed to give him meaning. That it was supposed to provide him with job satisfaction and make him happy. And for this reason, he had given all his power to his employer, which made him resentful.Now Benjamin understood that it does not matter where he works. What matters is how he works and how he thinks about his work. That realization led to some pretty amazing...

BIO: Michelle Griffin is a certified international personal brand strategist with clients from around the world. She is also a certified StoryBrand Marketing Guide and a credentialed digital marketer and copywriter. She is the host of the Personal Branding Clubhouse Weekly Show.STORY: Michelle had always wanted to be her own boss, but imposter syndrome made her lose so much time before she could muster enough confidence to do it.LEARNING: Take the first step and put yourself out there so that people know you. Be consistent in providing value. “Our most important commodity is just showing up consistently every day.”Michelle Griffin Guest profileMichelle Griffin is a certified international personal brand strategist with clients from around the world. She is also a certified StoryBrand Marketing Guide and a credentialed digital marketer and copywriter. She is the host of the Personal Branding Clubhouse Weekly Show.Worst investment everAfter graduating with a Master’s degree in PR, Michelle was so excited to become an entrepreneur. She had always dreamed of having her own business since she was in her 20s.Letting her dream remain just a dreamEven though she wanted to be an entrepreneur, Michelle threw her dream off to the side and went on to employment.Michelle’s dream kept haunting her. About five or six years ago, she started getting very interested in entrepreneurship and the online world. She wanted it so bad. Michelle invested in courses, promising herself that one day her dream would come true and she’d be her own boss.A severe case of imposter syndromeEven with all her skills and experience, Michelle didn’t feel confident enough to go into business on her own. Every day, she would wake up with the same dream but never give into it. Michelle was waiting for someone to give her permission, but only she would give herself that permission.Getting out of her comfort zoneYears later, Michelle was asked to give a talk to her local association—a group of cybersecurity professionals. She spent weeks developing this unique framework she called Own Your Message: How to Step Out to Stand Out and Succeed in Your Industry. She gave her talk, and it was a hit.This was when it dawned on her that she was not practicing what she was preaching. It was right after that that she turned in her resignation and started her business.Lessons learnedTake that first stepEven though you are scared and don’t want to do it, you just need to take that first step. You must get out of your comfort zone to grow. Once you take that one step, you won’t stop; you’ll keep going.Put yourself out there so that people know who you areTo market your brand, you must put yourself out there. If you stay hidden and make yourself small, your customers will not know who you are. Your job is to help others, but they have to know who you are and what you stand for.Just show upShow up authentically and help people. Soon, they’re going to realize you’re there to help them, and they’re going to want to come to you so.Consistency breeds confidence which results in successWhen you’re consistent in what you do, you become confident, and then you get bolder and can go out and meet people; then you slowly develop your...

BIO: Business growth online mentor and coach Kassy Pajarillo-Braganza helps coaches, consultants, trainers, private practitioners, and service-driven entrepreneurs claim their six-figure outcomes for their seven-figure businesses through her program, the Power Profile Biz Accelerator.STORY: Kassy knew this celebrity who had an incredible idea of making passive income. All she had to do was invest $2,000 in the product the star was selling, and she would get a certain amount every time he got a new customer. This was all a lie. Kassy never made a single penny.LEARNING: Don’t trust anyone who asks you for money first. There is no such thing as passive income; you’ve got to put in the work. “Trust is everything. You don’t have to manipulate people to earn money.”Kassy Pajarillo-Braganza Guest profileBusiness growth online mentor and coach Kassy Pajarillo-Braganza helps coaches, consultants, trainers, private practitioners, and service-driven entrepreneurs claim their six-figure outcomes for their seven-figure businesses through her program, the Power Profile Biz Accelerator.Worst investment everWhen Kassy was younger, there was this reputable guy who was sort of an elite celebrity. She knew him, and he seemed to be credible.The guy has this insane idea of making passive income from a product (vitamins) he was selling. The buyer would make a certain amount every time a new customer invested in the product.Just a scamKassy was interested in the idea, so she talked to him about it. He told her that she needed to invest $2,000, and each time he invited another person to join the community under her, she would earn a certain amount of money. She just had to sit back, wait for the guy and his team to do all the work, and she’d make money in return without lifting a finger—besides paying the $2,000.The guy assured her that it was a good investment and many other celebrities were in it. Kassy was convinced that it was an excellent idea, and so she invested in it.Kassy never made any money from the investment. All she had was tons of vitamins.Lessons learnedYou’ve got to do the work to make moneyAside from doing the research, you got to do the work. There’s no such thing as sitting around and expect other people to do the job and bring in passive income for you.Work with credible peopleBeing a celebrity does not necessarily count as credibility. When you want to partner with people, always ask yourself what they are after and what you stand to benefit from the partnership.Be wary of the shiny object syndromeBe careful of people flashing money and promising you will have x amount in whatever time frame; if it’s too good to be true, run right away.Avoid people asking you to give them money so that you can make moneyAnyone asking you to provide them with cash first, avoid them at all costs.Andrew’s takeawaysTrust is vital when doing businessTrust is essential when doing business with anyone. However, it is vital to understand that there is no shortcut to trust. It has to be built over time.Don’t be seduced into a bad investmentSalespeople are very skilled at seducing you into their business ideas. Many are hard to resist, but you must be careful about every business opportunity that comes your way. Remember

BIO: David Allen is one of the world’s most influential thinkers on productivity. His bestselling book, Getting Things Done: The Art of Stress-Free Productivity, has sold millions and been published in thirty languages.STORY: David Allen was busy writing his third book when he decided to hire someone to help him run his business. He came across someone who had a good resume and seemed like a good fit. David was pressed to make a rush decision to hire him without doing any due diligence because he claimed to have another offer. The guy ended up being a wrong fit.LEARNING: Don’t make decisions when you’re under pressure, and don’t let desperation prevent you from doing your due diligence.&nbsp;“Avoid decisions to the last responsible moment.” David Allen&nbsp;Guest profileOne of the world’s most influential thinkers on productivity, David Allen’s 35 years of experience as a management consultant and executive coach have earned him worldwide recognition. His bestselling book, the groundbreaking Getting Things Done: The Art of Stress-Free Productivity, has sold millions and been published in thirty languages; and the “GTD” methodology it describes has become a global phenomenon, being taught by training companies in more than ninety countries. David, his company, and his partners are dedicated to teaching people how to stay relaxed and productive in our fast-paced world.Worst investment everNeeding help so that he can concentrate on his bookWhen David was writing his third book, he realized that he was so busy he needed someone to help him run his business. He decided to hire a manager, someone with a sales and marketing background, because that seemed to be what the company needed at the time.Hardpressed to make a decisionDavid found a guy who had a good resume and seemed to be a good fit. However, the guy insisted that David makes a quick decision because he had another offer. So he decided quickly, without sufficient due diligence, to find out whether the guy was the right fit or not.This turned out to be the worst investment David has ever made. The guy just didn’t fit into the company’s culture, and worse, he was making side deals and stealing from the company. It took David three years to realize he had hired the wrong guy.Lessons learnedDon’t make decisions when under pressureDon’t be pressured to make decisions. Slow down, hold back and wait until the pressure is off. Deciding under pressure will only cause you to make an emotionally driven decision that is often not the right one.Andrew’s takeawaysStep away from pressureWhenever you feel pressured, it’s okay to step back. Even if you miss the opportunity, there will always be another one coming.Don’t let desperation prevent you from doing your due diligenceWhen you’re overloaded and in desperate need of assistance, and you find the solution you need, don’t get too excited and skip your due diligence. You still need to find out if the solution is the right one for you.Actionable adviceRelax, take a breath and make sure that you’re building in some reflective process for yourself in your life.No. 1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to continue supporting his network of trainers, coaches, and licensees.Parting words&nbsp;“Stay focused, be healthy, and stay safe.”<blockquote...

BIO: Kevin Carter is the Founder and CIO of the Emerging Markets Internet &amp; Ecommerce ETF (NYSE: EMQQ) and Chairman of the EMQQ Index Committee.STORY: During the Dot-com boom, Kevin came across Amazon, but he dismissed it as just a bookstore not worth its valuation. He decided to short Amazon and lost a third of his net worth at the time. Had he bought the stock instead of short selling it, he would be $50,000 richer today.LEARNING: Short selling is a bad investment idea. Nobody can do a perfect valuation; always know that you are working with estimates.&nbsp;“Good judgment comes from experience, and experience comes from bad judgment.”Kevin Carter&nbsp;Guest profileKevin Carter is the Founder and CIO of the Emerging Markets Internet &amp; Ecommerce ETF (NYSE: EMQQ) and Chairman of the EMQQ Index Committee. Prior to EMQQ, Kevin was the Founder &amp; CEO of AlphaShares, an investment firm offering five Emerging Markets ETFs in partnership with Guggenheim Investments. Previously Kevin was the Founder &amp; CEO of Active Index Advisors, acquired by Natixis in 2005, and the Founder &amp; CEO of eInvesting, acquired by ETRADE in 2000. Kevin received a degree in Economics from the University of Arizona and began his career in 1992 with Robertson Stephens &amp; Company.Worst investment everIn the late 90s, Kevin was a very confident young value investor. He wanted to be like the likes of Warren Buffett. He had worked as an analyst professionally and got paid very well by hedge funds and mutual funds for his research.The Dot.com boom hitsThe Internet showed up, and then the Dot-com bubble burst. Kevin was relatively successful at that point and confident but also a bit naive.Kevin got wind of a new e-commerce company, Amazon, but he thought of it as just a bookstore. He believed that it shouldn’t be valued any differently. He spent a lot of time comparing Amazon to Barnes and Noble and was convinced that it would not amount to much.Kevin concluded that with a $1.4 billion market cap, Amazon’s stock would sell for just a fraction of that. He even predicted that the company would be lucky to sell for $200 million in cash.Short selling AmazonKevin decided to short Amazon in March of 1998. He lost about a third of his net worth in a day and a half.Amazon’s current market cap is $1.6 trillion. Had Kevin not short sold Amazon and instead bought the stock, his position today would be worth $50,000.Lessons learnedDon’t make valuation shortsShort selling to make money is a bad idea because it has complicated mathematics behind it. Most of the time, it is just not worth it. The other problem is when you short something, and you’re wrong, your exposure gets bigger.Andrew’s takeawaysLet go of hindsight biasWhen people make mistakes, they will often engage in hindsight bias. They look back and wish if only they had done this or that. The truth is, when you are making decisions, you’re making them with the best information you have and the application of your judgment at the time.Nobody can do a perfect valuationIt is tough to make a 100% correct evaluation. The solution is always to question everything when developing a valuation estimate and accept that it is an estimate.Actionable adviceUnderstand and work with the<a...

BIO: Dubbed ‘the wolf of real estate,’ Mohanad Alwadiya is the most celebrated real estate, and business multi-media thought leader in the middle east. He is the CEO of award-winning Harbor Real Estate managing mixed-use institutional portfolios worth over $4 billion.STORY: Mohanad wanted to secure the future of his soon-to-be-born daughter, so he went for advice from his banker. The banker convinced him to sign up for a long-term insurance plan. A few years later, Mohanad realized that he was losing money from the plan instead of gaining. Any effort to resolve the issue failed, and he ended up stuck with a program where he was losing money.LEARNING: Do not trust your banker; seek independent financial advice. Don’t make emotion-driven decisions, and continuously monitor your investments. Separate the creation of wealth and the growth of wealth.&nbsp;“Investing in knowledge is the only thing that you will never lose.”Mohanad Alwadiya&nbsp;Guest profileDubbed ‘the wolf of real estate,’ Mohanad Alwadiya is the most celebrated real estate, and business multi-media thought leader in the middle east. He is the CEO of award-winning Harbor Real Estate managing mixed-use institutional portfolios worth over $4 billion. Mohanad has his own top-rated property reality–TV show &amp; he’s the author of the best-seller “Landlording–from renting to financial freedom.”A senior instructor and advisor at Dubai Land Department since 2009, certifying and mentoring thousands of real estate professionals across the region. Mohanad was listed amongst the top 100 most influential personalities in the UAE in 2018. During the 2019 distinctive international Arab festivals awards (DIAFA), he was also awarded as the best social media influencer of the year.Worst investment everAlmost two decades ago, Mohanad was graduating from university and was excited about life. His goal back then was to become financially independent. He wanted to break free from his family financially.Making a plan to be financially independentSo the plan for Mohanad back then was to identify the number that would allow him to be free. He came up with $2,000. He thought if he gets this every month, he would be financially independent and not depend on his family.The best way to make this happen was to get a job. So he applied for jobs and finally, he got a very good one. Mohanad worked extremely hard with commitment and consistency, and he was able to achieve that number. He got the salary of his dreams.Wanting moreMohanad was super happy and excited about hitting his number, but after a while, he realized that this number was not enough anymore. He had developed higher expectations and was more ambitious. His expenses had also grown.Mohanad decided to increase his number by another $1,000. So he worked long hours, made more clients happy, and after a while, he got it. But again, he wasn’t satisfied with this new number. This time, Mohanad decided to increase the number substantially, so he doesn’t have to do this every year or two. He raised his number from $3,000 to $10,000.New and bigger responsibilitiesAs Mohanad was working hard towards achieving this new number and his ultimate goal for financial independence, something changed his life forever. Mohanad found out that he was going to be a father.Mohanad had a lot of mixed feelings. He was so happy, but he also panicked because all along, he was working on a plan for himself. He...

BIO: Jeffery Potvin is an angel investor in multiple regions and has invested in 55+ companies. He is a member of seven angel groups and screening committees while being the driving force behind Open People Network (OPN)! OPN is a group of angel investors helping accelerate the growth of early-stage startups.STORY: Jeffery’s company had been working on and off with this startup for about two years. When the startup came back with a product and an investor, Jefferey took interest, and even though he had some doubts, he trusted the startup. It turned out his gut was right because the investor never held his part of the deal.LEARNING: Walk away from anyone trying to pressure you to close a deal and have the proper documentation in place before you sign the contract. The ultimate validation comes from your customer.&nbsp;“Look for resources, educate yourself, learn and dive right into it. Build that product, then find that angel investor.”Jeffery Potvin&nbsp;Guest profileJeffery Potvin is an angel investor in multiple regions and has Invested in 55+ companies. He is a member of seven angel groups and screening committees while being the driving force behind Open People Network (OPN)! OPN is a group of angel investors helping accelerate the growth of early-stage startups through The Supporters Fund and Pitchit Series. Jeffery is a lifelong entrepreneur with a proven track record of building companies and reinventing existing businesses. He has worked with a list of great clients, from startups to enterprises, over the years. Jeffery is a mentor, coach and loves to climb mountains.Worst investment everJeffery worked with a company for about two years on and off, helping them through their journey. An opportunity came up to invest in this new emerging company that had some great IP. The company had found an investor that would help them with the production. The investor was going to contribute considerable funds too.Getting deeper into the business ideaJeffery went through this process of doing a deep dive and analysis around the business. He requested that he meet with the investor who would pick the ball up and put a lot of money in to make this company successful.Jeffery met the investor, and as he started to pick their brain and learn more about them, he asked them questions because he had doubts. However, he never admitted his misgivings; he just kept going forward.Ignoring hisJeffery’s gut still told him that something was not right. But because he had been working with the startup for such a significant amount of time, he trusted that they had picked the right investor.Jeffery did not want to slow down the progress, so he ignored his gut, did all of the analysis, came back, and signed off on the deal.The truth comes outJeffery signed everything off, and everything was good. About six months into the project, when the final handoff was supposed to happen, the unforeseen happened. Once everything was solidified and sorted out, the investor ended up having creditors coming after them, and they went bankrupt. Everything they had worked hard for went down the drain just because of one person. If only Jeffery had listened to his gut.Lessons learnedWalk away from anyone trying to pressure you to close a dealIf there is any panic or pressure to close a deal, walk away. There’s a reason they’re putting that pressure on you. They’re probably in debt or something else. There’s always a problem when it’s high pressure. Nothing needs to be solved in five minutes; you should...

BIO: Janet Metzger is an experienced Network Marketing Coach and Consultant with a demonstrated history of achieving results.STORY: Janet found herself jobless after her position was made redundant. She was 59 years without any idea of what to do next. She hired a coach who misguided her from doing what she loved most. Instead, she invested in a franchise that she ran for two years and hated every bit of it.LEARNING: Get the right mentor or coach, and don’t let anything bring down your confidence.&nbsp;“You can do anything that you decide to do. But you have to get the right mentor or coach.”Janet Metzger&nbsp;Guest profileJanet Metzger is an experienced Network Marketing Coach and Consultant with a demonstrated history of achieving results. She has been a leader in various organizations and has led sales teams that produced $60M in annual revenue and large teams of over 10,000 members. Her experience varies from start-up businesses to Fortune 100 Companies. And her first love remains Network Marketing, and she’s proud to be a part of this great industry.Worst investment everJanet worked for a Fortune 100 company for 17 years. Then she went to another humongous company in network marketing and direct sales, where she worked for 18 years. Janet loved it here, but she needed a change, and so she quit.Forging a new pathJanet tried a couple of different things, including running multi-million-dollar businesses, but nothing ever felt good. All of a sudden, she was now the person working two years here, two years there. In one of her jobs, her role was made redundant, and she found herself jobless at 59 years of age.Janet did not know what she was going to do next. All she knew was that she wasn’t ready to retire. Fortunately, she had some money in the bank, but she was crazy bored.Following her passionJanet’s passion was helping people achieve their goals and dreams. She decided to hire a coach and paid her a substantial amount of money. Janet told the coach what she wanted to do, but the coach was just a dream stealer who convinced her otherwise.The coach convinced Janet that she wouldn’t be able to do what she wanted. Instead, she advised her to invest over $50,000 into a franchise. After two years of running the franchise, she still wasn’t happy.Losing her confidenceJanet lost all the confidence she had developed over the years working for great companies and from having great mentors. She went from being full of self-esteem to having none. These were the worst two years of her life.Janet regretted getting that particular coach because she got nothing out of her. The two years she invested in her became her worst investment ever.Lessons learnedGet the right mentor or coachYou know what you’re good at. Now, all you have to do is follow your goals and do anything you decide upon. But you need to have the RIGHT mentor or coach to guide you to your goals.Andrew’s takeawaysDon’t let anything bring down your confidenceA lot could bring down your confidence as an entrepreneur, from not hitting your goals to your products not selling. All this can wear you down. But always remember that to be successful, the people who work with you need confidence in you. So don’t lose your confidence; otherwise, people will bail on you.There is a difference between intuition and emotionAlways choose intuition over emotion. To do that,...

BIO: Flavilla Fongang is a Top 5 most influential tech woman. She is the author of 99 Strategies to get customers, International Keynote Speaker, BBC Brand Strategist, Brand Growth Coach, Branding &amp; Marketing Agency MD, TLA Black Women in Tech Founder, and Tech Brains Talk Podcast.STORY: When Flavilla started a personal branding consultancy, she made the mistake of charging by the hour. This made her lose money, and people perceived her low rates as a reflection of her services.LEARNING: Don’t align yourself with followers who pay less. Align yourself with leaders who will pay premium rates.&nbsp;“Align yourself with the leaders, not the followers.”Flavilla Fongang&nbsp;Guest profileFlavilla Fongang is a Top 5 most influential tech woman. She is the author of 99 Strategies to get customers, International Keynote Speaker, BBC Brand Strategist, Brand Growth Coach, Branding &amp; Marketing Agency MD, TLA Black Women in Tech Founder, and Tech Brains Talk Podcast.Worst investment everFlavilla worked in oil and gas and then later decided to become a fashion stylist who self-taught herself. She read a lot of books and learned about becoming a fashion stylist.Flavilla then quickly realized that people were very interested in personal branding, so she became a brand consultant.Not following her own adviceFlavilla would often advise her clients to pick a niche, but she couldn’t bring herself to pick one out of fear of losing opportunities. She was working with clients in all sorts of niches. So she became a jack of all trade.Another huge mistake Flavilla made with her business model was charging by the hour. People would comment about how cheap she was, and cheap is not good as it’s often viewed as a reflection of your value. Now the problem with the hourly rate is that if you are very efficient and good at what you do, you lose a lot of money. This is what happened to Flavilla. She realized that she was doing it wrong and started using value-based pricing.Lessons learnedDon’t align yourself with followers; align yourself with leadersIf you align yourself with followers, you’ll be going for the lowest bracket instead of the higher bracket. When you charge people more, they tend to trust you more and see you as the best in what you do. So leave the time-wasters who are always looking for a bargain; go for the top-notch clients who will value what you do.Andrew’s takeawaysSell an outcomePeople are always willing to pay a lot for transformation, but they pay a small amount for knowledge. So sell an outcome.Actionable adviceDouble your price to lockout time-wasters, and you will only have people that really enjoy working with you and value what you have to offer.No. 1 goal for the next 12 monthsFlavilla’s number one goal for the next 12 months is to get herself out of the equation. She believes she’s become her own burden as much as her own strength. People love who she is and want to work with her. But she needs to get herself less involved in the management of her business.&nbsp;[spp-transcript]&nbsp;Connect with Flavilla Fongang<a...

BIO: Chris Trikomitis has an array of experience from the investment banking sector in London and the US and working in financial services for over 17 years. Chris is currently a coach, investor, and entrepreneur.STORY: Chris met a group that was in the restaurant business. They dined him in different restaurants seducing him into the good life. Chris wanted a piece of this lifestyle, and so he invested in a restaurant. Unfortunately, he did not have the skills and experience necessary to run a restaurant, so the business failed.LEARNING: Keep your lifestyle simple, stick to what you are good at, and test theories first before investing in them.&nbsp;“You can earn the lifestyle you want by being cautious, investing a bit more carefully, and doing your research.”Chris Trikomitis&nbsp;Guest profileChris Trikomitis is in particularly high demand and is often requested to give informative and motivating keynote speeches at local and international events worldwide. Chris has an array of experience from the investment banking sector in London and the US, as well as working in financial services for over 17 years. Now a coach, investor, and entrepreneur, Chris’s background ranges from developing competitive business strategy, sales, marketing, and he has been instrumental in growing various businesses.Worst investment everChris mainly focuses on financial investments, but he once decided to go into physical investments.Getting dined and wined into investingChris invested in a restaurant and a co-working space after getting wined and dined from morning to night in different locations owned by the same group. The group totally sold him on the lifestyle, and after that, he invested in the program.Chris bought a restaurant and added a co-working space. The idea was to get the co-working space to pay for the rent and the restaurant to make the profit. Then he would use both businesses to give people the opportunity to have a quiet place to work. They’d also get the chance to take advantage of some of his food by providing free credits, which would then encourage them to buy more.Getting the work doneThe idea of owning a restaurant was very seducing to Chris. When he got down to it, he looked at things more from a consumer perspective than an actual investor. When it came down to doing the real work, Chris quickly realized he didn’t have the experience or skills needed to run a restaurant.Time to foldChris found himself injecting his own money into the restaurant because it was not making enough to cover the costs. He tried different marketing ideas, but nothing seemed to work. Chris knew that he did not want to keep investing in the restaurant in the long term. So eventually, it just hit that maybe he should just call it a day and focus his time on something that could generate more income.Lessons learnedStick to what you are good atStick to what you are good at, and don’t get carried away so easily. This does not mean you can’t gain that lifestyle you desire, just invest more wisely and don’t shift too far away from what you’re good at.Andrew’s takeawaysTest your theoriesThe key to success in business is figuring out how to test your theories without requiring a lot of money.Keep your lifestyle...

BIO: Andrew Bryant, CSP is a Global expert on Self Leadership, a C-Suite Advisor, an Award-Winning Coach, and a Best-Selling Author.STORY: Andrew invested heavily in a gym with the plan to offer service-based health and wellness. Low-cost gyms came up and swallowed his business.LEARNING: Understand how to get in and out of a business, test your market first and know what your customers want, not what they need.&nbsp;“Sunk cost does not account for the learning.”Andrew Bryant&nbsp;Guest profileAndrew Bryant, CSP is a Global expert on Self Leadership, a C-Suite Advisor, an Award-Winning Coach, and a Best-Selling Author. English by birth, Australian by passport, Singapore by PR, and Brazilian by wife, Andrew is adept at moving across cultures.Andrew is on a mission to ‘wake people up’ to their best possible selves, which he does through his Conference Keynotes, Leadership Team Facilitation, and Coaching.He is Leadership Faculty for Singapore Management University, where he also contributes to the Women in Leadership Program and is most proud of the work he has done building self-esteem and confidence for at-risk teenagers.Worst investment everAndrew’s first degree is in physiotherapy. He worked in hospitals for a couple of years and later with sports teams.Bringing his strengths together to build a businessAndrew decided to bring together his medical and sports experience to create a wellness center. So he bought a gym. Andrew had always been critical of gyms because they were poorly managed, and there were many myths about fitness. He planned to bring science to fitness as a physiotherapist.Investing too heavilyAndrew overly invested in the gym without realizing that he was paying for things he didn’t need to pay for. Then he hired the best human resource graduates from the local university to be personal trainers and paid them a lot. He believed that would make the difference. Andrew invested in equipment, real estate, and staff.Too much competitionAndrew focused on offering service-based health and wellness, and it worked for just a little while. Then the fitness craze hit Australia, and low-cost gyms sprouted everywhere. These gyms weren’t selling service; they were selling hope. While Andrew was charging $49 a month for a subscription, the new gyms would charge $49 a year. The low charge obviously attracted people, and this drove his customers away.A flawed business modelThe biggest mistake Andrew made was not realizing that his business model was flawed. Instead, he continued investing more and more money until he ran out.Lessons learnedTest your market firstTest your market first with a minimum viable product to see if things are going to work out before putting all your money into the product.Have somebody to argue against your propositionLook for someone that you trust and spend time arguing against your idea and pick holes. This will help you see if your idea is viable.Understand how to get in and out of a businessWhen creating your business plan, remember to include an exit plan should the business fail. If you don’t have an exit plan, you don’t have a business; you’ve just bought yourself a job.Andrew’s takeawaysLook at the dynamics of an industry and exit when necessaryBefore you enter a market, look at the dynamics in that industry. Consider how the...

BIO: Andrew Woodward is the founder of The Investor’s Way. He is on a mission to change the financial lives of 1,000,000 people and believes everyone deserves to know how to manage their money for better money outcomes.STORY: Andrew invested in a strategy that seemed to work pretty well. Then he decided to add leverage without first understanding how it would work or affect his investment strategy. Andrew lost the money he invested.LEARNING: Understand what you’re investing in before introducing leverage. Learn how to manage your wealth because you can’t rely on other people to invest your money.&nbsp;“Nobody is going to care more about your money than you. Learn how to do it and secure your financial future.”Andrew Woodward&nbsp;Guest profileAndrew Woodward is the founder of The Investor’s Way, a former Chartered Accountant, Chartered Secretary, and Company Director, who now teaches people to take control of their money and learn how to invest it, without the need for expensive advisors, so they can build a secure financial future.He is on a mission to change the financial lives of 1,000,000 people and believes everyone deserves to know how to manage their money for better money outcomes.Worst investment everAndrew happened to go to one of those overhyped investment workshops and spent three days in a room with people getting amped up about investing. By the time he was leaving the workshop, he believed these people were the best investors in the world, and he was now one of them.Getting introduced to The Magic Moo Cow investment strategyAt the workshop, Andrew learned this strategy called The Magic Moo Cow. He believed it was going to be the absolute best investment strategy anyone could ever run into.The strategy basically involved buying a stock then wait a little bit for it to go up. Then you introduce options into the equation and then buy a put above the price that you bought the stock. Then every month, you sell calls and collect the premium. No matter what happened, you are always going to make money. If the stock goes up, you make a profit, and if it goes down, you’re covered by the put.It all looked fantastic, and so Andrew did it. He did it for a while on his own, and the strategy was doing ok.Adding leverage to his investmentOne day Andrew got an email from the promoter of strategy saying that, for a few select people, he wanted to offer them a product that would do all the hard work for him. Andrew thought this sounded like something that would introduce some leverage into his investment and earn more profit.Andrew entered into an arrangement that enabled him to leverage his investment in the Magic Moo Cow strategy into about $100,000. He had to put down $5,000 only to leverage to $100,000.Ignoring the fine printAndrew never read the fine print because this was a guy he had built some trust with. He simply relied on the advice he got when he made that investment.For the first few months, everything was fine. The investment was doing what it was supposed to do. There was only one problem; a major bank that was providing this product. When the market experienced a major meltdown, the product was designed to move back into cash. So because the stock had dropped so much, the bank sold most of the stock and put it back into cash.Difficult to get back inThe mechanism that the bank designed to get back in when the market was ready was so restrictive that the ability to make your money back, irrespective of what the market did, became almost...

BIO: From being 6,000ft underground in a mine to starting an education business (that grew to have more than 4,000 students) to spending years working in venture capital, Rael Bricker has seen it all.STORY: In 2001, Rael bought $85,000 worth of CD covers from Germany. He was attracted by the product but never did any research into how he would sell them and just went in blindly. Rael hardly made any money from the covers and ended up giving them to friends for free.LEARNING: Don’t spend a dime before researching the product and the market you want to venture into. In business, dive all in and adjust the course as you go.&nbsp;“Business is not complicated. Just dive in and adjust the course while you’re moving.”Rael Bricker&nbsp;Guest profileFrom being 6,000ft underground in a mine to starting an education business (that grew to have more than 4,000 students) to spending years working in venture capital, Rael Bricker has seen it all.He has listed companies on multiple international stock exchanges, and his financial services group has settled more than $3bn in loans over 19 years. He has a diverse work history combined with unique global research interviews with companies in more than 25 countries. Taking this knowledge and experience makes him perfect to advise people on growing and achieving excellence, as he has experienced the rollercoaster himself, and knows how to navigate the twists, turns, and loops.Rael holds two Masters degrees; an MBA and MSc (Engineering) and is currently a Fellow of the MFAA (Mortgage and Finance Association of Australia), a Certified Speaking Professional (CSP) (Professional Speakers Australia), and a Member of AICD (Australian Institute of Company Directors). He is also the author of Dive in-lessons learnt since business school.Worst investment everIn April 2001, Rael flew to Germany after his friend in South Africa introduced him to a German company called Flipping Group. This was at a time when people were storing data on DVDs or CDs. There was no other backup medium.The company had a fantastic set of CD covers. You’d put 20 CDs into a binder and press a little button on the side of the CD holder, and the CD popped out. The covers came in different shaded pastel colors and were really cool.Putting his money into the productWhen Rael flew to Germany, he bought $5,000 worth of inventory and brought it back to Australia. He found guys in Australia to help him with the packaging and distribution. Even before he sold a single piece, Rael ordered $80,000 worth of more stock. He got a friend to store it in his warehouse and had all that logistics stuff sorted out.Going into sales fulltimeBefore buying the product, Rael was working with a venture fund. After a few months, he left the venture fund and decided to go out and sell this stuff full-time.Learning that selling is tough the hard wayRael’s entire life up to that point was all about selling services. He quickly realized that selling a single product line was very difficult. Rael learned that to succeed in retail, one needs to have multiple product lines, distribution in all the major cities, and lots of other logistics. It, therefore, became quite a struggle for him to sell the covers.Losing interestEventually, Rael’s interest in selling the product dwindled because he was just banging his head against a brick wall trying to sell it. A few small, independent...

BIO: Mike Morawski is a 30+ year real estate investment veteran. He has controlled over $285,000,000 in real estate transactions.STORY: In 2008, when the economic crisis hit the US, Mike decided to find ways to protect his investors. He moved money from companies that were performing well into those that were underperforming. It seemed to work, but he had not informed his investors about it, so he was jailed for 10 years for fraud.LEARNING: Communicate with your investors regularly and always follow your business mandate. Listen to outsiders and pay attention to red flags.&nbsp;“Just because you act unethically doesn’t mean you break the law, but enough unethical actions ultimately will cause you to break the law.”Michael Morawski&nbsp;Guest profileMichael “better known as Mike” Morawski is a 30+ year real estate investment veteran. He has controlled over $285,000,000 in real estate transactions. Mike is an entrepreneur, author, real estate trainer, public speaker, and personal coach with strong personal resilience and a deep desire to help others live an extraordinary life. He has coached hundreds of real estate investors to fulfill their dreams.Worst investment everBefore 2008 Mike’s real estate business was flourishing. Then 2008 came around, and the US was hit by the worst economic crisis the world’s ever seen. Mike believed that he could weather the storm. But, his properties started bleeding. People moved out. In 2010 everything imploded.Trying to protect his investorsThings were getting really bad, and Mike tried to find ways to protect his investors. One idea was to take money from good, profitable companies, move it into nonprofitable companies, and hopefully keep the whole ship afloat. So he started moving money back and forth. Mike’s attorney and accountant both said it was acceptable to do that as long as they left notes so that the money is traceable.Not communicating with the investorsMike’s idea was great and was working. The only mistake he made was not telling his investors about it. He was charged with wire fraud and mail fraud charges for this mistake and ultimately sentenced to 10 years in federal prison.Mike lost everything, including the real estate business. As if that was not enough,17 days after being in prison, his wife decided to leave him.Surviving prisonMike was having a pretty hard time in prison. Six weeks into his jail term, he walked into the gym one day, and this guy came up to him and said, “Hey, don’t let these people beat you up. All they want to do is take everything from you. They can take your apartments, your cars, your houses, they can ruin your family, but they can’t take what you’re made of. They can’t take your brains, they can’t take your desire, and they can’t take your energy.”This was the best advice Mike has ever gotten. As a result of that advice, he decided to do the time in jail and not let the time do him.Building his life againWhile in prison, Mike went to college and got a four-year degree in theology. He also wrote two books. He came back home from jail in better shape physically, mentally, emotionally, and spiritually than he’d ever been in his life.Lessons learnedGrowing too fast is not necessarily a good thingMike’s business grew too fast. He hired too many people and had a bloated payroll. He paid too much for properties instead of negotiating, thinking that the market would keep going up. This is what caused his business...

BIO: As an executive coach, speaker, and international author, Gordon Jenkins helps people make a real impact and difference both in their professional and personal journey.STORY: Gordon grew up knowing that the only way to build a career was to go to school, go to college or university, then get a graduate job and work your way up. That’s precisely what he did only to realize, 10 years later, that he did not want to prescribe to this convection anymore.LEARNING: Shape your life after your own terms, not on convections. People are more interested in who you are not what you are.&nbsp;“You’re either in or out. There’s no gray matter in life. You’re either full on, or you’re full out.”Gordon Jenkins&nbsp;Guest profileAs an executive coach, speaker, and international author, Gordon Jenkins helps people make a real impact and difference both in their professional and personal journey. With his trusty sidekick, Banfi The Duck, Gordon has an innate knack for recognizing and celebrating people’s individuality.There is a common connection between Gordon and his clients. Success stems from the strong belief that it’s ok not to conform to societal pressures, it’s refreshing to be different, and that celebrating what sets you apart is the key to a rich and fulfilling life.Gordon’s clients include industry leaders who are regularly recognized by their peers as well as those quite happy to grow, away from glare of the media.Worst investment everGordon grew up knowing that the only way to build a career was to go to school, go to college or university, then get a graduate job. Then you sit in that job and work your way up.Following the system unwillinglyGordon followed the same system even though he always knew that he didn’t fit because he wanted to be a cook. However, he couldn’t take cooking classes because boys had to do woodwork and metalwork. After school, he ended up working in London as a phone exchange trader for a well-known Japanese bank. The job was fun, extremely high-paying, but very toxic.Charting his own pathGordon woke up one morning and decided that he didn’t want to do this anymore. It was not going to be his life. He realized that everything he’d been told for the last 10 years and the investment he’d made in himself was never for him. So that morning, Gordon resigned, and one week later, he arrived in Melbourne and hit a wall.Going against conventionIt took Gordon 10 years to realize that he is not someone who follows convention or tradition. He resolved to do what he wanted and not what other people told him was the norm.Lessons learnedPeople are more interested in who you are not what you arePeople don’t care about what you are; they want to know who you are as a person; they want to know you as an individual first. You could be the best executive coach in the world, but unless you connect with your clients, you are never going to close any deals.Andrew’s takeawaysYou can walk out of any situationYou do not have to live a toxic life; walk out of that situation. You have the power to walk awayShape your life on your own termsYour job is to shape your life on your own...

BIO: Christopher Slee is the Founder, Principal, and Chief Product Officer at AWH, a Dublin, Ohio software engineering firm currently celebrating its 26th year of creating innovative digital products for business clients.STORY: Chris has had a fair share of experience helping startups develop and get their products to the market. While he has no one worst investment story, his experience comes with a series of learnings and painful lessons.LEARNING: Believe in the startup and the products you are investing but also do your due diligence. Know your market and build a financial runway before you work on your product.&nbsp;“There’s no magic in marketing. There is sweat, due diligence, and effort.”Chris Slee&nbsp;Guest profileChristopher Slee is the Founder, Principal, and Chief Product Officer at AWH, a Dublin, Ohio software engineering firm currently celebrating its 26th year of creating innovative digital products for business clients.At AWH, Chris leads internal and external development teams across all applications, from web, mobile, and desktop platforms, to virtual reality and machine learning. Even though Chris has been programming for more than 30 years, he continues to push the technology envelope. From drones to artificial intelligence, Chris continues to exemplify the spirit of continual learning in the tech space.Worst investment everFor the past 26 years, Chris has spent his life working with startups and upscaling younger companies to get their products out into the market and capitalize on that. His company AWH helps many startups at the same time.Changing timesIn the early days, handling multiple projects was easier because people mainly just needed websites to market their products. But right now, the e-commerce field has changed, and the process is a lot more elaborate. Products have evolved, and consumers desire more complex products. They expect their apps to be smarter and do things for them.So to keep up with the trends, Chris’s company took on a venture arm that helps organizations in the startup phase go through a round of funding called Friends and Family or finance it themselves. And then find them an angel investor or an early-stage investor to, finally, help them find a seed investor.With experience comes a great deal of lessonsChris has had a fair share of experience helping startups develop and get their products into the market. While he has no one worst investment story, his experience comes with a series of learnings and painful lessons.Lessons learnedYou must believe in the products you’re buildingYou must believe in the products that you are building and the entrepreneur as well. If you don’t have 100% confidence in the entrepreneur, their product, and the market space, don’t invest in it.Do your due diligenceThere are many times where the emotional drive and belief in the product and trust in the entrepreneur may lead you astray. You can 100% believe that you’re right and be 100% wrong. When investing in a startup, go beyond believing in the product and the entrepreneur. Do your due diligence and believe in your gut.Know your marketYou should know someone who wants to buy your product before you start to build it; otherwise, you will be creating for yourself. There is a possibility that there is no market for your product, so make sure you know this before you waste your money and...

BIO: Travis Watts is a full-time passive investor. He has been investing in real estate since 2009 in multi-family, single-family, and vacation rentals. Travis is also the Director of Investor Relations at Ashcroft Capital.STORY: Travis was lured into an investment that had a 20% cash flow return. The investment, however, turned out to be fraudulent, and he lost his money.LEARNING: Always do your due diligence, keep things simple and invest in what you know and what makes sense.&nbsp;“In investing, find a philosophy, you subscribe to that resonates well. Find an asset class or type of investing that is simple to you.”Travis Watts&nbsp;Guest profileTravis Watts is a full-time passive investor. He has been investing in real estate since 2009 in multi-family, single-family, and vacation rentals. Travis is also the Director of Investor Relations at Ashcroft Capital. He dedicates his time to educating others who are looking to be more “hand’s off” in real estate.Worst investment everFrom 2009 to 2015, Travis would rent out spare rooms in his house for extra cash flow and passive income. Then he got into flipping properties. He would buy properties low and sell high. Travis did this for a little while to build some equity.Getting obsessed with the concept of passive incomeAt this point, Travis was a little obsessed with this concept of passive income. He loved the ability to participate in all these different things passively and have income rolling in.In 2016, Travis started to segue into some experimental investments that were not real estate-related. He joined general investing groups, startup capital groups, and all other kinds of groups.One heck of a dealIn one of his groups, a deal was presented as having over a 20% per year cash flow component. Travis thought that the 20% cash flow component would average his entire portfolio into a two-digit cash flow return portfolio. So he dove into the deal.Skipping the due diligence stepTravis knew a couple of people who had made investments with this group, and so he didn’t do a lot of due diligence on the group. He simply met the people face to face and looked through their operating agreements.Travis believed in this deal, and he put about three to four times as much into this deal as he would have any other real estate deal.A great startTravis invested in February. The investment was a quarterly distribution frequency investment, so in June, he got his first distribution, and it was as promised.Here comes the shockerIn September, Travis got an email from the group. The email said that the owners had found out that 35% of their portfolio had been deemed a Ponzi scheme. To pave the way for investigations, the distributions were stopped moving forward.The situation got worse. The fund moved into receivership. Then everything in the group was liquidated, and investors would never see any return on investment. And just like that, this became Travis’s worst investment ever and caused him to lose almost all the money he had invested in the fund.Lessons learnedAlways do your due diligenceAlways do thorough due diligence. Do not be skimpy, be very thorough in making sure that you invest in something legitimate that will bring you returns.Invest in what you know and what makes senseWhen it

BIO: Jose Salazar is a B2B influencer marketing consultant specializing in optimizing industry and thought leadership marketing through influencer and employee advocacy strategy.STORY: Jose’s twin brother looped him into a brilliant business idea, but due to their lack of startup experience, the business never took off. They were left paying off a loan that brought no return on their investment.LEARNING: Do your research before investing in an idea, even from family or friends. Be mentally ready before investing in a startup and make sure you are not the only or major shareholder.&nbsp;“Don’t spend money unless you’ve got people supporting your business.”Jose Salazar&nbsp;Guest profileJose Salazar is a B2B influencer marketing consultant specializing in optimizing industry and thought leadership marketing through influencer and employee advocacy strategy. He is currently responsible for growing the US business at Onalytica with a mission to help businesses drive awareness, credibility, and trust across the globe.Worst investment everJose’s worst investment ever started four years ago. He was having a chat with some friends about investing. He gathered a lot of information from different friends, and this piqued his interest in investing. So when his brother talked to him about this business idea he had, he was all ears.The brilliant innovative ideaJose’s brother’s idea was to start an online recruitment platform for the hospitality industry. He had looped in 25 people who were also interested in the concept. They had rounds of meetings for a year but were yet to get started.Putting money where their mouths areAfter a year, they decided that it was time to put money where their mouths were. At this point, everyone left apart from Jose, his brother, and one other friend.The three decided to form a partnership, contributed about $2,000 each, and got the ball rolling. They paid a designer to create a website and put money into social media advertising.Getting a loan to fund the startupAfter a while, they realized that they needed more money, and so the partners went to a startup-loan company for a loan. So unlike a typical business loan where all shareholders bear the loan burden, a startup-loan business means owners pay from their personal finances.No clue how to run a businessThe three partners continued to build upon their business idea. None of the three had any experience running a startup, and even though they had managed to get several clients to sign up, they were putting in more of their money than they were making. Eventually, Jose spoke to his business partners, and none of them was very keen on running the business, so they folded it.Lessons learnedDo your research before investing in an idea, even from family or friendsWhen someone comes to you with an investment idea, whether a friend or family member, do your research before putting in your money. Find out the returns and business forecast. Do everything you need to do to make sure the business is efficient.Be mentally ready before investing in a startupMake sure that you are mentally ready to run a startup. Also, you need to make sure that you have the time, put up with the stress, disagreements with partners, and other challenges of<a...

BIO: Jennifer Murtland is a licensed Real estate agent and investor in Ohio and Northern KY. She is the co-host of the Real Estate Fight Club podcast that focuses on battling through residential real estate topics.STORY: Jennifer bought a 200-year-old patchwork house on a whim, and it ended up sucking up all her money and time in renovations and repairs.LEARNING: Be careful when buying a patchwork house because it will cost you a lot more in the long run. Choose your tenants wisely to lower your risk and protect your return on investment.&nbsp;“Have different budgets for renovations based on the age of the house. The older the house, the more money you’ll need.”Jennifer Murtland&nbsp;Guest profileJennifer Murtland is a licensed Real estate agent and investor in Ohio and Northern KY. She started her real estate career wholesaling pre-foreclosures and investing in rentals. She is the co-host of the Real Estate Fight Club podcast that focuses on battling through residential real estate topics. She is a no bull shit, passionate professional who is committed to her client’s success and is currently looking for real estate agents to join her company.Worst investment everJennifer started wholesaling pre-foreclosures. In 2008 there were a lot of pre-foreclosures coming with good deals as houses were cheap then.The 200-year-old patchwork houseIn 2010 Jennifer came across a six-unit building that was almost 200 years old. The house was a patchwork house. Originally, it was a two-story house that probably started as a single house and then had two add ons built on, making it a six-unit apartment building. It literally looked like a patchwork quilt.Ignoring the facts right in front of herJennifer knew that buying a patchwork house was a considerable risk. She, however, believed that she is savvy and good with math, and this purchase seemed to make sense where numbers were concerned. So she bought this property.The domino effectAs expected of a 200-year-old home patched together when one tiny thing goes wrong, 100 other things go wrong. The repairs were not cheap either. Everything would cost like $3,000 to $10,000. But the average rents were about $500. As if that was not enough, the only tenants Jennifer could get were a pimp, a drug dealer, and a wife-beater; it was such a disaster.Getting rid of the patchworkFinally, the market turned, and about three years ago, Jennifer talked to her partner about the house, and they decided to sell the property. She found somebody and held the financing, and luckily the buyer paid Jennifer every month. Then the buyer sold it to somebody else, and Jennifer got her money back.Lessons learnedBe careful when buying a patchwork houseThe thing with old properties is when one thing goes wrong, 10 other things will go wrong, and it’s never cheap. So when doing your budget, keep age in mind. If it’s a newer home, you won’t need a lot of money for renovation, but the renovation budget could triple if it’s an older home.Andrew’s takeawaysDo your due diligence to preempt any trouble with your purchaseWhen you’re buying anything, keep in mind that the seller is probably hiding everything they possibly can on what’s wrong. So expect that the seller will hide stuff and do your due diligence to uncover what...

BIO: Ian Moyse is the Chief Revenue Officer at OneUp Sales. He is a decorated and numerously awarded sales director.STORY: A few years ago, Ian was between jobs, so when the first opportunity came knocking, he accepted it without doing any due diligence. The company turned out to be toxic, and he had to leave after nine months only.LEARNING: Do your due diligence to make sure that you accept the job that is right for you. Do not let your vulnerability blind you to accepting just any opportunity that comes along.&nbsp;“When you are desperate for a job, that’s when you should do more due diligence than you normally would.” Ian Moyse&nbsp;Guest profileIan Moyse, Chief Revenue Officer at OneUp Sales, has sat on the boards of a number of industry bodies, such as FAST (Federation Against Software Theft), CIF (Cloud Industry Forum), and Eurocloud.He was awarded the accolade of BESMA UK Sales Director of the year and was listed in the top 50 Sales Keynote speakers by Top Sales World.Ian was rated #1 Cloud influencer Onalytica and has been recognized as a leading cloud Blogger and is utilized by a range of global brands as a Cloud Computing thought leader.Worst investment everA number of years ago, Ian was in the unfortunate circumstance of being between jobs. Even though he had a bit of money saved to cushion him for some time, he did not want to be jobless for too long.So Ian was interviewing and happened to find an opportunity. It was not the perfect job, but he could make it work.Great on the face valueThe job opportunity was in a family business that looked great at face value. Its revenue had been stagnant for a few years, but Ian was excited at the chance to get onboard and reignite the business.Doing what he is good atIan took the role because he needed a job. He built a team of about nine people and got to work. He identified all the changes that the company needed and was ready to implement them once the company owners approved them.The cracks start to showIt was at this point that Ian started to realize there were some cracks in the company. He found out that there was dysfunction and politics in the family that spilled over to the business. This made it so difficult for him to change things. His ideas would get opposed all the time just because family members could not get along. It was very frustrating.The culture in the business was also getting quite toxic. The people Ian had hired started leaving the company as they could not handle the toxic environment anymore. Ian also quit after nine months at the company.Failed to do his due diligenceThe worst investment mistake that Ian made was investing his time in a job without doing enough diligence. This caused him to take on a job that was not a good fit for him.Lessons learnedDo your due diligence to make sure that you accept the job that is right for youYour desperate need for an income may cause you to put up with stuff, but you must think very carefully about a role you’re going to take. You don’t want to be in a toxic environment which will affect your mental health, the people around you, and your home, or put you in a position where you need to look for another job.Andrew’s takeawaysDo not let your vulnerability blind you to accepting just any opportunityWhen in desperate need of a job, realize your vulnerability at that time. Use that vulnerability as a tool to put a little bit more...

BIO: Gav Gillibrand is a fitness and nutrition expert specializing in helping busy executives lose 20-30lbs in 12 weeks. He is the author of The GHG Method – A No “Bullshit” Approach To Losing Body Fat, Upgrading Your Mind Set &amp; Radically Changing Your Life.STORY: In his 20s, Gav ignored his health and just concentrated on having a sexy body. Years later, he has had several injuries that he now has to deal with in his 40s.LEARNING: Your health is more important than wealth or a sexy body. Invest in your health today to manage the risk of injuries in your old age.&nbsp;“If I could go back to my 20s, I would be the first to take care of my health. Now I have to spend the next 20 years trying to repair the damage that I did in my 20s and 30s.”Gav Gillibrand&nbsp;Guest profileGav Gillibrand is a fitness and nutrition expert specializing in helping busy executives lose 20-30lbs in 12 weeks and become great role models for their kids WITHOUT giving up carbs and other fun stuff from their lives.From a TV appearance on “Blind Date” in 1993 to a distinguished career as a male revue artist AKA a male stripper, traveling all over the UK and Europe, Gav went on to become one of the UK’s most successful fitness coaches, having helped 100’s of clients in the last 12 years to health and weight loss success. He’s written articles for Men’s Health, Hello and OK! Magazine and is the author of The GHG Method: A No “Bullshit” Approach To Losing Body Fat, Upgrading Your Mind Set &amp; Radically Changing Your Life.Worst investment everToo young and sexy to careWhen Gav was in his 20s during his stripping and dancing days, he would often make fun of the other guys who always took time to exercise and stretch before a show. Gav felt that he was sexy enough to need any stretching.Giving in to age and poor healthWhen Gav was in his 40s, his body started caving. He got a neck injury and a spinal injury that caused his left arm to be slightly paralyzed. Gav was out of action for two or three years. Three years later, he had two meniscus surgeries on his knee. He is currently in the middle of a hip and back injury.Gav’s worst mistake ever was ignoring his health in his 20s, and now he is trying to repair the damage.Lessons learnedYour health is better than your looks or moneyYou may have a sexy look, but your sexy body will not be of help to you if you are sick. It doesn’t matter how much money you’ve got or how big your car or house is; if you have poor health, it is all worthless.Andrew’s takeawaysThink of your health as a risk management strategyInvest in your health when you are young to avoid the risk of poor health and injuries in your old age.Actionable adviceStart thinking about your health now when you are young because prevention is better than cure. You do not want to spend your sunset years trying to repair the damage that you did in your 20s and 30s.No. 1 goal for the next 12 monthsGav’s number one goal for the next 12 months is to be injury-free. From a business perspective, he wants to double his coaching business and write his second...

BIO: Andrew Pek is an internationally recognized authority on innovation, design thinking, and entrepreneurship.STORY: When Andrew started his first business, he hired the best of the best who also came with high salary expectations. The startup could not handle the payroll, and so Andrew had to let almost everyone go.LEARNING: Starting a business from scratch requires you to be smart and strategic. Have the proper organizational structure to support your business model.&nbsp;“Fail fast so that you can keep on winning.”Andrew Pek&nbsp;Guest profileAndrew Pek is an internationally recognized authority on innovation, design thinking, and entrepreneurship. From start-up to mature companies, Andrew has helped organizations such as Bayer, Citi Group, Pfizer, and Steelcase become more innovative.Andrew has been invited to speak worldwide, and his views on innovative leaders, change management, and design thinking have been featured on ABC, NBC, CBS, Fox, The New York Times, Investor Business Daily, and Chicago Tribune.Worst investment everWhen Andrew started his business, DXD Partners, a big design thinking and innovation consultancy, he decided to hire some of the most intelligent and most interesting people. He went for people he had a good affiliation with. Andrew believed that these people would take his business to the highest heights.A payroll larger than he expectedWhile his hires were great, they also came with high expectations in terms of salary. Andrew invested a ton of money bringing them on board.A bloated payroll combined with the market crash in 2008 created the perfect storm for Andrew. He couldn’t keep up with the payroll and had to go through the painful process of letting everyone go except for his administrative person. It was brutal.Being more strategic when hiring peopleLooking back, Andrew admits that he should have been more strategic with the people that he hired. He should have made sure they were the right fit in terms of experience, skills, and even salary expectations.Lessons learnedStarting a business from scratch requires you to be smart and strategicWhen starting a business from scratch, understand what your customers want, have the right business model, and then develop the proper profitable structure.A successful idea is desirable, doable, and viableFor your product or business idea to be successful, it should be desirable, doable, and viable. Besides understanding what your customers want, you should also have the proper organizational structure to support your business model. The wrong setup will affect the viability of your business.Andrew’s takeaways6 top mistakes startups makeBad hiring decisionsPoor management of time and peopleIneffective teamwork and collaborationWaiting too long to start sellingWeak accounting and financeLow product qualityActionable adviceInvest your time in understanding who your customer is, then come up with a minimum viable solution.No. 1 goal for the next 12 monthsAndrew’s number one goal for the next 12 months is to scale a new product that he is working on. His strategy is to scale it through partnerships and...

BIO: Leonard Lee is a tech industry analyst and strategy consultant. He is the managing director and founder of neXt Curve, a research advisory firm.STORY: Leonard shares the most common mistakes he has seen in startups and his advice on dealing with those mistakes.LEARNING: Understand the market opportunity before launching your startup idea. Invest in advisors to help you understand the structure of the market. Test the market with a minimum viable product.&nbsp;“Get knowledgeable about your market opportunity, and then target your investments.”Leonard Lee&nbsp;Guest profileLeonard Lee is a tech industry analyst &amp; strategy consultant, a solution architect, an innovation coach, a startup and board advisor, a Trekkie, and a musician.He is the managing director and founder of neXt Curve, a research advisory firm based in San Diego, California, focused on providing cross-domain ICT industry research and advisory services to enterprises, startups, and technology vendors looking to differentiate themselves and win in a rapidly changing digital economy.Worst investment everToday, we are going to do things a little differently. Our guest Leornard Lee will share the most common mistakes he has seen in startups and his advice on how to deal with those mistakes.Lessons learnedDetermine the value potential of your ideaThere are a couple of things that determine the actual value potential of an idea. One is how ready the market is. The second thing is technical readiness.One of the things that a lot of startups don’t factor in quite well is the economics. You have the idea first, but you fail to think through economics. Think of economics in terms of, first, the value to your target customer who is basically going to be that market opportunity you are pursuing. If you don’t consider that properly, you will be starting on the wrong foot.Second, think of economics in terms of the technical side. Understand technology in terms of cost. Sometimes your ideas may be great, but they are not economically viable. So your ideas fail because of bad timing.Do your homework and understand the market opportunity firstMost startups simply do not do proper homework, and therefore, they do not understand the market opportunity. One of the reasons they get into this early phase issue is because they look at these big inflated numbers thinking that the market opportunity is something that it is not.Here is where the bad investment starts and the startup ends up investing time that gets wasted upfront. Depending on how far they progress down the funding path, they just accumulate money that will probably not generate a return.Ask the right questionsTo understand the market opportunity learn how to ask the right questions. Invest in a group of advisors who can help you question numbers to get a proper understanding of the structure of the market.Test the market with a minimum viable productOnce you have an idea of where you are in your market, you’ve got your technology figured out, and you are in the early stages, the next thing you need to do is test that market.It is crucial that startups test their market first because many of them, especially those in tech, are often started by engineers. Engineers are great at designing cool stuff but may not be so great at running the business side of things.Run a buyers’ need analysis and validate your assumptions. What you think is valuable to the customer may not...

BIO: Logan Nathan is the founder and CEO at i4T Global/i4Tradies. He’s a digital transformation specialist, a serial startup entrepreneur, a board director and advisor, and an angel investor.STORY: Logan had an innovative idea that would be a big disruptor in the digital transformation industry. Just when the idea was getting traction, the pandemic hit the world. Logan had to pivot his business to survive. With the help of his employees, suppliers, advisors, and associates, he could pivot to a point where his business has now gone global.LEARNING: Listen to your advocates and customers; they can teach you more than you think. Look at your problems from a different angle.&nbsp;“It doesn’t matter what you have learned. There is always somebody who will teach you more than what you know.”Logan Nathan&nbsp;Guest profileLogan Nathan is the founder and CEO at i4T Global/i4Tradies. He’s a digital transformation specialist, a serial startup entrepreneur, a board director and advisor, and an angel investor.Worst investment everLogan has always had an innovative mind and is always trying to challenge the status quo. It is no wonder that he was running his company at 18 years of age.Getting into the digital transformation industryHe always wanted to cause disruption, and the digital transformation industry caught his eye. Logan delved deep into it, did his research, and about four years ago, he wrote a book about digital transformation. Now he wanted to innovate a product in that industry.Targeting tradesmenLogan had, over the years, built relationships with tradesmen. So he decided this was where he would develop his product. His idea was to create software like Uber but for tradesmen. He discussed the idea with a trade business owner, and he loved it.Diving both feet inThe two gentlemen dived into the idea and got the wheels rolling. Logan had a team of people who could code and do the technology part of the product. They then went looking for funding so that they could come up with the beta version.They went for an angel investing meeting, and the investors were skeptical about the idea and told them to get out of it as fast as they could. Logan was adamant, and so he went on to create a finished product.The market was not ready for themWhen it was time to hit the market, Logan realized that it was not ready for their product. It became tough to deal with individual tradesmen. But one day, he happened to interact with a property management agent who was having issues with a tradesman. It was then that Logan realized that he was targeting the wrong people. So he shifted his business ideas from individual tradesmen to property management agents.A successful turnaroundThe shift saw the business take a turn for the best. The company started to get traction and was making a substantial profit.Then came COVID-19Just when the business was getting its footing, the COVID-19 pandemic hit the world, and Logan lost 80% of his customers. The business was not going to survive the pandemic. However, his never-give-up spirit made him look at the pandemic more positively.Looking for all possible ways to surviveLogan gathered his employees, suppliers, and associates and...

BIO: Ryan Estes is an American Buddhist entrepreneur and the founder of Kitcaster, a podcast booking agency. He is an expert in leveraging podcasts for meaning and profitability.STORY: Ryan and his wife co-run a marketing agency. Ryan’s wife came up with a fantastic product idea that she shared with Ryan. He agreed that it was a great idea; he took it over and executed it the same way he would implement a client’s vision. One problem, though; he never consulted his wife, whom the idea belonged to. Feeling sidelined, Ryan’s wife lost interest in the product causing a rift between the couple. In the end, they had to let go of the project for the sake of their marriage.LEARNING: Honor your relationships even in business. Your business partner is your most valuable asset, cherish and protect them.&nbsp;“If you have a business partner, somebody that complements you and you have the perfect rhythm, cherish and protect that relationship.”Ryan Estes&nbsp;Guest profileRyan Estes is an American Buddhist entrepreneur. As the founder of Kitcaster, a podcast booking agency, he facilitates thousands of extraordinary conversations. Ryan is an expert in leveraging podcasts for meaning and profitability.Kitcaster serves more than 150 agency clients and is gearing up for its first software product in 2021.Worst investment everOver the past 10 years, Ryan has been the owner-operator of Talklaunch, a media marketing agency he runs with his wife. The agency does social media content, paid media, organic search, website creation, and more.Taking over his wife’s fantastic product ideaRyan’s wife had this great idea for a skincare company, specifically, a natural deodorant company, and she was excited about it. She came up with this fantastic formula that worked well.Ryan took over this entire idea and put it through the wringer the same way he would do with a client. He rebranded the idea, built the website, put everything together, and launched the company, all without consulting his wife.Wife loses interestEven though the company was having middling successes and Ryan was planning to expand a line, his wife continually became less interested in the business. Ryan couldn’t figure out why she was not engaged in this company, yet it was building traction.Unbeknownst to Ryan, his wife had hoped that this idea would become a collaborative project for the both of them. Something that you would work on together and bond as a couple. However, Ryan never bothered to find out what were his wife’s expectations from the business. So when he took it over and alienated her, she lost all the interest she had.Choosing to save his marriageThe business was starting to cause a rift between Ryan and his wife. Once Ryan realized his mistake, he apologized to his wife, and together they decided to let go of the project and focus on something else for the sake of their marriage.Lessons learnedDraw a line between business and your marriageWhen you go into business with your partner, be sure to draw a line between your marriage and your business. Articulate in a conversation all the ways your business relationship could go wrong. Evaluate how your business relationship can affect your marriage and find ways to protect that relationship because no amount of money is worth ruining your relationship.Always remember that your spouse is your most valuable...

BIO: Almasa Alunni is a visionary global citizen, a mentor, and a seasoned consultant with a curious mind, acting as the pivotal trait d’union to align strategic alliances and cultures.STORY: Almasa moved to Dubai, where she met a Filipino lady who became a very close friend. One day the lady borrowed a substantial amount of money which Almasa gave her without any questions. She trusted her as a friend. It turned out the lady was a con artist and never paid Almasa her money back.LEARNING: Do your due diligence before lending anyone your money, including friends. It’s better to give than to lend, but do not give what you cannot afford to lose.&nbsp;“Money comes and goes. But if you lose a friend, you lose a treasure.”Almasa Alunni&nbsp;Guest profileAlmasa Alunni is a visionary global citizen, a mentor, and a seasoned consultant with a curious mind, acting as the pivotal trait d’union to align strategic alliances and cultures.She has a solid networking portfolio of HNWI, key players &amp; decision-makers built over four decades of professional experience in the Luxury Lifestyle, Mega Yachts industry, Communication &amp; Media environment.Almasa is a multilingual elite PR advisor in brand strategy where she can connect the dots both backward and forwards. She has a real talent for human cross-cultural gathering and great knowledge of the Middle East and North Africa region’s social and economic environment.She was appointed as UAE Humanitarian Global Goodwill Ambassador in 2018.Worst investment everWhen Almasa moved to Dubai, she met a Filipino lady, a Catholic like her, and became close friends quickly. They become as close as a family, always celebrating stuff like Christmas together.Helping a sister outThe Filipino lady was almost 70 years old but quite a hard worker, as Almasa thought. The lady told Almasa that she was engaged in a new business venture and needed some financial assistance.Being the kind and generous person Almasa is, she agreed to give her the money. She transferred a considerable sum of money, the equivalent of two years of her living expenses, by bank transfer, no questions asked.Turns out it was a scamMonths passed without Almasa getting any money back as promised. After chasing after her friend for months, she reimbursed her partially and at a plodding pace. Almasa decided to take action and went to the police station. Here, she found out that the lady had four other cases of fraud. It turns out she was a professional con artist who knows precisely how to scam people.Abuse of trustWhile losing the money was painful, what hurt Almasa most was how her friend abused their friendship and her trust. Because money comes and goes, but losing a friend is like losing a treasure.Lessons learnedDo not give more than you can afford to loseIt is always safer to give and not expect anything in return. But even as you give, always give what you can afford to lose.Andrew’s takeawaysInstead of lending a lot, give a littleIf you are not willing to lend anyone your money, simply give the little that you can as a gift instead of lending them large amounts of money that might leave you in debt.Ask for collateral in exchange for a loanBefore you lend money, ask the person to give you some collateral, such as a deed to a piece of land or a car deed; if they do not pay, you will have a way to recover your...

BIO: Robert Paylor suffered a spinal cord injury in 2017 while playing rugby. He has picked himself up to defy the odds. Robert graduated from UC Berkeley, is winning the fight to walk again, and is sharing his method of how he overcomes quadriplegia.STORY: Robert suffered a spinal cord injury while playing rugby and could not move anything below his neck. He fought so hard to walk again to satisfy himself, but after a letter from one of his rugby trainees battling cancer, Robert realized that he needed to fight his challenges to inspire others.LEARNING: To overcome challenges, you must first believe that you can. You can overcome your challenges, do not let the world tell you otherwise.&nbsp;“The more positive affirmations we give ourselves throughout the day, the more positive we become and the more able we are to take on life’s challenges.”Robert Paylor&nbsp;Guest profileIn one moment, Robert Paylor was on the best day of his life, competing for the collegiate rugby national championship. In the next moment, his life changed forever. Robert suffered a spinal cord injury in the first minutes of the game and found himself face down on the turf, unable to move anything below his neck.His doctor told him he would never walk or move his hands for the rest of his life. Through an unbreakable vision and relentless determination, Robert is defying the odds. He has graduated from UC Berkeley, is winning the fight to walk again, and is sharing his method of how he overcomes quadriplegia.Every person faces challenges; Robert’s are just visible. The skills Robert uses to overcome paralysis can be used by all to optimally perform. His message is one that inspires others to access their full potential and conquer their challenges no matter how daunting they may seem. Visit https://www.robertpaylor.com for more information.Worst investment everOn May 6, 2017, Robert played at the collegiate rugby national championship when a player tackled him. He lost his footing and dropped to the ground snapping his neck. He could not move or feel anything below his neck. Robert could tell something was wrong, and at this moment, all he could think of was his goals, dreams, and aspirations.Making it all about himselfWhen Robert found out that he could not walk, he wanted to get better for himself. He just wanted to get better and nothing else. Robert just wanted to be able to stand up on his feet, feed himself, and go back to school. Just for his satisfaction.An inspiration to manyThis need for self-satisfaction changed very quickly. One day after his injury, Robert’s high school was hosting a prayer service for him. He would typically teach rugby to young players at the school and share this passion with them.As Robert was chatting with his dad about the service, he showed him a photo of a young lad who was fighting for his life. His skin was white as a sheet, and his body as thin as a rail. After a closer look, Robert recognized the guy. He was one of the high school kids that he trained.The student’s mom had written a message to Robert telling him that his son wanted so badly to be at the prayer service to pray for Robert, but he couldn’t because he was undergoing chemotherapy. He was wearing Robert’s rugby shirt because he inspired him. And because of Robert, the student was fighting hard to beat cancer so he can play rugby. At the end of the message, the mom asked Robert to stay strong and keep smiling because his strength was...

BIO: Rashmi Shetty is a Voice and Attitudinal Coach and a Professional Certified Coach from ICF. She brings decades of work experience in various sectors such as academia, hospitality, storytelling, consulting, coaching, radio anchoring, and emceeing.STORY: As a shy young lady in college, Rashmi decided to try out for the Union council secretary, but when it was time to deliver her campaign speech, she froze. The whole school booed her. This event was so embarrassing, and she carried this burden for years only to find out recently that nobody really thought much about it after the elections.LEARNING: People are a lot less interested in you than you think they are. Everyone has their own life to look into, and you’re the last on that list. So just chill, make or break those failures, learn from them and move on.&nbsp;“The moment you start giving external validation importance, you stop looking inward.”Rashmi Shetty&nbsp;Guest profileRashmi Shetty is a Voice and Attitudinal Coach and a Professional Certified Coach from ICF. She brings decades of work experience in various sectors such as academia, hospitality, storytelling, consulting, coaching, radio anchoring, and emceeing.A keynote and motivational speaker, she believes, “Your ATTITUDE decides your ALTITUDE.” A national and international award winner for scripting and narrating radio documentaries, she was honored with the “Iconic woman creating a better world for all” award in July 2020 from the Women Economic Forum and is also an active member of a global body called Climate Coaching Alliance.Worst investment everWhen Rashmi was young, she was super shy. She could barely talk in front of more than one person. She did not know how to get over her shyness.Forgetting about her shyness for a minuteWhen Rashmi was in her final year of graduation, the Union at her college was up for election. Being who she was, she did not even aspire to take a position. She was surprised when one of her classmates, a class representative, suggested that Rashmi nominate herself for secretary. This was the most coveted position in the Union.Rashmi forgot just how shy she was and jumped right into the idea. They went and filed the nomination forms, and later she wrote her speech. She believed this would be her best investment ever to get into leadership and fame.The defining momentThe reality of what Rashmi had got herself into hit her on the day of the election. She was all set. She could say her speech backward. But when she reached the auditorium and saw 5,000 girls staring at her, she froze. With a lot of difficulties, she climbed up the podium and reached the stage.Rashmi’s speech was crumbled entirely. When she looked at it, two big drops of tears followed. Not a single word came out of her mouth. What Rashmi set out as the best investment turned out to be the worst because a little into that moment, by the time she could assimilate what was happening, the girls started booing because nobody knew her name. They did not even know who was talking to them. She said something, then ran backstage and burst out crying.Carrying the unnecessary burden of shame for yearsRashmi was so ashamed that the whole college would now know her and laugh and scoff at her. She carried this experience with her for years, constantly feeling embarrassed. A few years ago, at a college reunion, when sharing their embarrassing moments, she realized that everybody forgot the incident as soon as she left the podium, yet she had let it bother her for...

BIO: Mustafa Sherif is an urban planner with a big focus on the social sustainability aspect of city development. He is also the host of the Urbanistica podcast.STORY: Mustafa would easily make friends to a point where he had hundreds of friends. However, after running a social experiment, he realized that he had spent so much time and money building friendships that were just one-sided.LEARNING: The smaller your inner circle, the deeper the relationships. Real friendships are two-sided and do not need to drain your energy or time.&nbsp;“I do not need to go all-in when building friendships. I need to let it go with the flow.”Mustafa Sherif&nbsp;Guest profileMustafa Sherif is an urban planner with a big focus on the social sustainability aspect of city development. He is also the host of the Urbanistica podcast. It’s a podcast about how we create smart and livable cities. Mustafa is passionate about planning cities with people and by people.Worst investment everWhen Mustafa moved from Baghdad to Sweden, he had the chance to meet new kinds of people. Back in his home country, he would only meet the same type of people from the same background as his.Mustafa loves talking and doing stuff with people, so he tried to be friends with as many people as possible.One-sided friendshipMustafa found himself putting in all the work into the friendships he formed. He was the one always texting them, checking upon them, and organizing events to bring them together.Out of sight, out of mindWhen Mustafa moved from Sweden to Italy for his master’s degree, not a single of his hundreds of friends in Sweden bothered to check upon him.Interestingly, Mustafa never missed his friends either when he moved to Italy, even though he had spent so many years with them.Same script different castMustafa made new friends in Italy, and the story was the same. Again, he put in most of the work, and when he moved back to Sweden, he only missed one or two of his so-called friends.The social experimentMustafa started to question just how profound his friendships were. He began to experiment whether if his friendships were a good investment for him. Mustafa created a new Facebook account and added all the people that he suspected did not care about him. Then he made a second account and added the people that he was in touch with.Then he deactivated the Facebook account with the people he was not in touch with for a month. Then he reactivated it. Just as Mustafa had suspected, none of these people had tried to contact him. He deactivated the account again for six months. The same story, nobody, contacted him.After a year, Mustafa realized that these people were never his friends and that he had made the worst investment ever, spending so much energy on friendships that never served him. Mustafa decided to be more strategic with how he relates with people, and now he is more focused on building meaningful relationships instead of just having many friends.Lessons learnedTrue friendship is two-sidedYou do not need to go all-in or push so much in a relationship. Just let it flow, and if the other person shares the same sentiments, then the friendship will flourish. Both parties need to put on the work for friendship to work. It cannot be one-sided.Andrew’s takeawaysAlways ask...

BIO: Michael Stanhope is the Founder &amp; CEO of Hubbis, a leading provider of content and learning solutions for Asia’s Wealth Management &amp; Private Banking Industry. The company has a business in Hong Kong and Singapore and operates across the region.STORY: Michael has made several investment mistakes, each caused by taking a short-term view on his investments as opposed to thinking about them in the long term. He shares a few of these investments gone bad.LEARNING: Think long-term when building your wealth. Get a qualified financial advisor to help you create a diversified long-term portfolio.&nbsp;“People need to educate themselves around the concept of investing, and thinking about the long term, financial planning, and wealth management.”Michael Stanhope&nbsp;Guest profileMichael Stanhope is the Founder &amp; CEO of Hubbis, a leading provider of content and learning solutions for Asia’s Wealth Management &amp; Private Banking Industry. The company has a business in Hong Kong and Singapore and operates across the region.Michael has an extensive background in financial services in Asia, Europe, and North America. He has been in Asia-Pacific since 1995, first in Hong Kong, then in Sydney and Singapore, returning to Hong Kong in 2007, and now is in Vietnam.Worst investment everMichael got a mortgage at the age of 23 and bought himself a house in Earlsfield, near Wimbledon. He paid 92,000 pounds for this house.Selling too fastA few years after buying this house, he decided to sell it. He was now living in Asia, and so it made sense to sell. He sold the house for 150,000 pounds. At the time, he thought he was smart for making money on the house. Now, when he reflects on that decision, it was not so smart because he sold it too fast. The home is now probably worth a million pounds plus. If he had held onto it, he could have been able to rent it out for a significant amount of money.Compounding his mistakesMichael went on to make other short-term investment decisions. He would buy houses and even businesses and sell them soon after instead of sticking at it for the long term.Lessons learnedThink long-term when building your wealthHave long-term objectives around building your wealth, or generating income, or whatever it is you’re trying to achieve.Get professional helpGet a professional financial advisor who is licensed, qualified and capable to help you especially, when it comes to taking a long-term view. Let them help you map a long-term view of the investment objectives that you have.Andrew’s takeawaysBuild a long-term portfolioSet a long-term goal and try to build a long-term portfolio first, then take a portion of that, as you built it up, and use some of it for short-term investing.Actionable adviceWhen investing, take a long-term view, diversify your portfolio, and save regularly. Also, if you have kids, have conversations with them about money,...

BIO: Lorenzo Flores, a twenty-year veteran in retail leadership, has rejuvenated, inspired, and rebuilt over a dozen teams throughout his career.STORY: After years of hard work, Lorenzo finally became a manager. He was super excited to get this title, and he thought that he had finally arrived at his destination. He plateaued and settled in his title, stagnating his career and personal growth for six years.LEARNING: A title or a job is not the end destination or a place to plateau and settle; you still need to put in work to keep growing. It does not matter how much time it takes to get to where you want to go; it is the work you put in that matters.&nbsp;“If I’m not following my code of leadership, I’m not helping my people get better over time.”Lorenzo Flores&nbsp;Guest profileLorenzo Flores, a twenty-year veteran in retail leadership, has rejuvenated, inspired, and rebuilt over a dozen teams throughout his career. With a passion for music, Mixed Martial Arts, and podcasting (check out Life of Lozo and Hacking Your Leadership!), he understands the importance of connecting personal vision to the workplace.Lorenzo’s insights, experiences, and philosophies on leadership excellence are the fuel to ignite every leader’s optimum potential. Join his Clubhouse here.Worst investment everLorenzo was very excited to finally be made manager after many years of learning how to influence people to be great individual contributors, to show up, and to exceed expectations. He believed that he had made it.The perfect leaderBecoming a manager made Lorenzo think that he was perfect. He believed that all of his opinions were right. Lorenzo thought he had all the skills and competence necessary to lead people. So he just sat back, relaxed, and allowed the everyday elements of the job to take over his life.Getting comfortable with his job titleLorenzo never challenged himself beyond his job title. He never took time to develop and grow his career further. He got comfortable in being a manager.Lorenzo thought that he would develop through osmosis if he just showed up every single day, put in the time, and did what he was told to do.The idea of 10,000 hoursLorenzo prescribed very early in his career to the idea that someone becomes a master of his art after practicing it for 10,000 hours. Lorenzo figured that being in a full-time job working 40 hours a week, in five years, he would automatically be the master of his domain and be the best possible assistant manager you can find. The part that he forgot about is that five years have to be dedicated to improving yourself.That is where Lorenzo made a horrible investment decision by believing that just being present in the physical was enough to help him grow and achieve his goals, both professionally and personally.Career stagnationThis mentality caused Lorenzo’s career growth and development to stagnate. He also experienced complacency in relationships.Lorenzo was also complacent when it came to having financial goals. He just lived day by day, week by week, assuming that this is life now. And so for Lorenzo, those...

BIO: Brendan provides consulting services and resources to leaders who want to become more effective and their teams to become less dysfunctional. He is the Host of The Culture of Things Podcast.STORY: Brendan got an idea to buy shares in a telecommunications company in the early 90s. But because he and his partner were just starting a family, his partner discouraged him from making the investment. He ignored her and ended up losing about $150,000.LEARNING: You are not always right, be open to other people’s perspectives. Women, don’t be afraid to ask your partners about money and investing.&nbsp;“Lack of humility is the root of all evil.”Brendan Rogers&nbsp;Guest profileBrendan Rogers’s purpose is to ‘improve the lives of people at work.’ He does this by providing consulting services and resources to leaders who want to become more effective and their teams to become less dysfunctional. He is the Host of The Culture of Things Podcast.Worst investment everBack in the late 90s, Brendan and his girlfriend (now wife) moved back to Sydney from the UK. They were 24 years old, just starting their young family. Brendan was at the time earning decent money.For the love of investingBrendan has always been a person that enjoys investing a lot. So when he and his boss got talking about investing, he was interested. They particularly talked about share investing in a telecommunications company.Ignoring his partner’s inputBrendan was pretty excited about this investment idea, and so he spoke to his girlfriend about it. However, she was flat against it. But, Brendan went against her judgment and invested 5% of his gross salary. The shares then went down very quickly, and he lost about $150,000 in the investment.Struggling to rebuild the lost trustThe most significant impact of Brendan’s worst investment ever was not the money he lost but the level of trust that was broken between him and his girlfriend. It took him a long time to rebuild that trust.Lessons learnedBe open with your spouse about your investmentsWhen in a relationship, and especially a serious one where you live together and have a child together, have conversations around what might be the suitable investments and the amount of risk you are okay to take on.You are not always right, be open to other people’s perspectivesBrendan always gets excited about investment opportunities, and he is always trying to get other people excited too. However, he has had to learn very quickly about his aptitude for getting people excited and dismissing those who are not as excited as him. Now he knows that his way is not always the right way and is not blind to other people’s perspectives.Andrew’s takeawaysWomen, don’t be afraid to ask your partners about money and investingWomen, if you are married or in a serious relationship, do not be scared to ask your partners questions when it comes to money and investing. Find out what they are doing and get involved. Research shows that women are better risk managers—a quality that is key in investing.Actionable adviceTreat investing as a team sport. Go to the right people and build trust in that team. Be...

BIO: Brandon Bornancin is a serial entrepreneur; he’s currently the Founder &amp; CEO of one of the fastest-growing SaaS companies in the US, Seamless.AI.STORY: Brandon believes that his worst investment ever was not learning how to make a million dollars sooner.LEARNING: There is no special requirement to becoming a millionaire; you just have to put in the work.&nbsp;“Imperfect action will always be greater than perfect inaction.”Brandon Bornancin&nbsp;Guest profileBrandon Bornancin is a serial entrepreneur, and he’s currently the Founder &amp; CEO of one of the fastest-growing SaaS companies in the US, Seamless.AI. He’s a motivational speaker and 18x sales author obsessed with helping sales professionals maximize their success. At Seamless.AI, he helps 100,000 (and counting) companies flood their calendars and generate millions in sales using artificial intelligence to find anyone’s emails and phone numbers.Worst investment everBrandon believes that his worst investment ever was not learning how to make a million dollars sooner.Lessons learnedAnyone can make a million dollars; you just have to do what it takesTo make your first million, start by building a list with every person in every company in the world you need to sell to.Second, get training and expertise. Once you have your list, you have to know how to sell the list. Read hundreds and hundreds of books on sales, marketing, entrepreneurship, and investing.Lastly, be ready to do the work. If you want to be a millionaire, it will require more work, effort, energy, and more tenacity. So just work hard and do whatever it takes. Do not let any bullshit excuses stand in your way to being a millionaire.Andrew’s takeawaysThis is the time to hustle hardWith the pandemic, it is an easy time to get down and frustrated. But get going. This is your time, don’t let anything hold you back.Making your first million is not that complicatedMaking your first million dollars is not that complicated. First, build a list. Second, get training to know what you’re doing, and third, sell to that list and get to a million.Make as many sales as possible to cushion you from mistakesYou are going to make a million mistakes throughout your life as an entrepreneur. Having growth allows you to absorb those mistakes without getting wiped out. But if you have tiny profit margins, minor errors will knock you out.Actionable adviceBuild your list every day, and then work on connecting and building relationships with the people on your list. Work on marketing, advertising, and selling to your list. That is where opportunities are created.No. 1 goal for the next 12 monthsBrandon’s number one goal for the next 12 months is to transform the lives of his employees and those of the hundreds of thousands of users and companies that rely on Seamless.AI. The best way for Brandon to do this is to IPO and leverage the capital to continue maximizing the success of his users, customers, investors, and employees.Parting words&nbsp;“Do whatever it takes to build your list. Just make it happen; you’ve got...

BIO: Kunal Naresh Chandiramani is an Internet entrepreneur, inventor, and best-selling author. He is the founder and CEO of KStar and subsidiaries and host of dToks.STORY: Kunal was launching a new venture, so he paid for media coverage with the hopes of getting thousands of customers. His ROI was horrible.LEARNING: Do not pay for media coverage; instead, attract customers organically. Media coverage does not guarantee sales.&nbsp;“Build a business that the media wants to cover, instead of being the business that wants to be covered.”Kunal Chandiramani&nbsp;Guest profileKunal Naresh Chandiramani is an Internet entrepreneur, inventor, and international best-selling author. He is the founder and CEO of KStar and subsidiaries and host of dToks.He is also a three-time TEDx speaker. In the past, he has been an advisor to various for-profit and not-for-profit boards.Worst investment everKunal was launching a new venture, and he decided to pay for a press release. He thought that to be successful; a business needed media coverage. That is why he chose to spend quite some money for the press release to be published.The fame that never cameKunal had huge expectations about the press release. After he paid for it, he realized that it was just a glorified advertising channel. The ROI was just horrible.Kunal was under the impression that all the best ventures in the world have a lot of media coverage. He also thought that media coverage would get him customers but quickly learned that would not happen.Lessons learnedThe best media is the one you do not pay forYou have to realize the difference between good media and bad media. You do not pay for good media. Organic media will bring you better ROI compared to paid media coverage. So if you want to do press releases, do them organically.Andrew’s takeawaysFocus on attracting your customers instead of promotionAttraction is always better than promotion. The intelligent business person is the one who attracts the media and gets them to come to him. Focus on reaching out to the world about your products or service in a unique way that attracts people to come to you.Media coverage does not guarantee salesTo make sales, you need customers. Getting on TV or any other media channel just for fame will not bring you sales.Actionable adviceIt’s important to realize that not all your decisions will change the world, and it is okay to make a few mistakes.No. 1 goal for the next 12 monthsKunal’s number one goal for the next 12 months is to continue doing stuff that impacts many people.Parting words&nbsp;“Do not get too serious. Just have fun and be yourself.”Kunal Chandiramani&nbsp;[spp-transcript]&nbsp;Connect with Kunal ChandiramaniLinkedInTwitterBlog<a href="http://kstar.in/" rel="noopener noreferrer"...

BIO: Troy Holt is a financial educator, an independent coach, speaker, trainer, author, and podcast host. He is also the CEO (Chief Encouragement Officer) of Troy Holt Consulting.STORY: In 2014, Troy decided to quit a job that he no longer enjoyed and got another one that paid him a small salary and a commission. The money he was making could barely sustain his lifestyle. Instead of making lifestyle changes, he used money he’d received after his mom died as his fallback plan.LEARNING: If money is tight, cut down your costs to a bare minimum. Put your trust in your family and friends, not money.&nbsp;“Make money your tool and not your master.”Troy Holt&nbsp;Guest profileTroy Holt’s more than 20 years of experience as a sales and account executive has led to his success in the areas of business growth, development, and financial planning.As an innovative leader and effective communicator, Troy’s success is grounded in his impeccable work ethic and drive. Troy’s expertise allows him to work as both a financial educator and as an independent coach, speaker, and trainer.Troy is a co-author of an Amazon best-selling book and is the host of the Troy Talks podcast. He serves as the CEO (Chief Encouragement Officer) of his Troy Holt Consulting company.Worst investment everTroy worked at a retail store as a sales rep when his mom died suddenly in April of 2014. At the time, Troy had worked this job for 11 years, but suddenly every day he came to work, he would feel pressured and did not want to be at work. He felt like he was in prison.Troy went to see a doctor, and he was diagnosed with anxiety. He decided to go out of work under short-term disability for 60 days. When he went back to the doctor, he was told he was still not fit to work. Troy went back to his employer and submitted his paperwork for an extension, but he got denied. So he resigned.Finding a better jobTroy found another job which started him off at a certain amount plus commission. After a couple of months, they reduced his salary by about 80% but with a higher commission. Troy’s salary was just enough to pay his health insurance and that of his wife and pay taxes.Selling telecommunication systems was a long process, and Troy barely closed any deals.Falling back on his money reservesWhen Troy’s mom died, she left him some money. He planned to save and invest it later. However, when his job woes started, he started dipping into his money reserves bit by bit to sustain his lifestyle. In his mind, he thought he would be able to put back the money once he closed a deal and got his commission.Troy did a lot of prospecting and working deals but barely closed anything due to the long sales process.Things got tougherTroy’s money reserves were dipping by the day. He figured it was time to get another job. He ended up having to take another job making less money, but at least it was not commissioned.His reserves were drying out at this point, and he still had so many expenses to cover. Troy realized that his worst investment ever was continuing to live the same lifestyle despite his financial hardship. He should have cut his costs, but he did not, and now he had no money to invest.Lessons learnedMoney is not your source of happinessThe experience taught Troy that God is his...

BIO: Yaswanth Sai Palaghat is a YouTuber who focuses on tech and career development (as well as many other areas), and he also interviews leaders and influencers.STORY: Yaswanth made the mistake of following the crowd and chose to take an engineering course. After a year at the university, he realized that he was wasting his money, he topped engineering while following his passion.LEARNING: Follow your passion, teach yourself so you can turn it into a skill, then create an opportunity from it. Over and above your education, develop a skill that differentiates you.&nbsp;“The only thing that you need is clarity on what your passion is. Once you have the clarity, you can create your own opportunities.”Yaswanth Sai Palaghat&nbsp;Guest profileYaswanth Sai Palaghat is a YouTuber who focuses on tech and career development (as well as many other areas), and he also interviews leaders and influencers. And even though he is only 23 years old, he has the big goal of creating the largest digital tech community.Worst investment everAfter high school, Yaswanth decided to go to university and do an engineering course. This was not what he was passionate about, but it is one of India’s most popular courses. Almost everyone is doing engineering.Having the courage to follow his passionAfter a year of studying engineering, Yaswanth realized that this degree would take him nowhere. With everyone doing engineering, the field is so crowded, and the opportunities are too few. So he went on to start his YouTube channel, something that he enjoys doing.Lessons learnedFollow your passionIf you have a passion, do not ignore it. It does not matter how complex it is; just make time to pursue it.Do not be afraid to start even if you failStart whatever you want to. Even if you fail, you will have lessons to take from it. The most important thing is to start.Network to stay relevantEven if we are in the internet era, you can still network and stay relevant. Talk and interact with multiple people and make good connections online.Take advantage of the internet to learnEveryone can learn freely on the internet. So you have no excuse not to learn by yourself. If you know the path you want to be on in two to three years, you ultimately need to work on that on your own. No one will guide you because everyone is busy building their own lives.Hone your public speakingIf you want to build a successful enterprise, you must work on your public speaking skills. An excellent public speaker oozes confidence, a trait that is important for entrepreneurs.Andrew’s takeawaysIf at first, you do not succeed, try againDo not be afraid to fail. If at first, you do not succeed, try again. Get more used to failure than success because you will fail more than you succeed, but you will learn a lot from your failures.Over and above your education, develop a skill that differentiates youEducation is not enough these days. You have got to create...

BIO: Kenny Weiss is a Life Coach, YouTuber, Podcaster, and Author. His mission is to help people learn about their ‘worst day cycle’ so they can stop repeating events that hold them back and live up to their full potential.STORY: Kenny has faced so much pain in his life. From childhood trauma to multiple addictions to an abusive marriage to bankruptcy and more. All this pushed him to contemplate suicide. While writing a suicide note to his kids, Kenny realized that all he needed to do was to let go and surrender to his pain to find healing.LEARNING: To heal, you have to let go and accept your flaws and mistakes. Write down all your mistakes—this will give you clarity and start you on the path of self-forgiveness.&nbsp;“The only way to reach your authenticity is by letting go.”Kenny Weiss&nbsp;Guest profileKenny Weiss is a Life Coach, YouTuber, Podcaster, and Author of Your Journey to Success. He founded The Greatness Movement in 2018.His mission is to help as many people as possible learn about their ‘worst day cycle’ so they can stop repeating events that hold them back and live up to their full potential.Worst investment everAbout eight years ago, Kenny was suicidal. He had suffered a difficult childhood. His mother was an alcoholic, his father was distant, and his brother was abusive. Kenny also struggled with multiple addictions, went through two horrific divorces, a child custody battle, and bankruptcy.In one of his marriages, his wife was physically and verbally abusive. All this was too much for him, and he just wanted to end it all.Giving up controlKenny had held it together for so long that he had convinced himself that he was in control of his pain. He never wanted to let go of that control. But when he decided to commit suicide, as he wrote a suicide note to his kids, he could not justify why he was choosing suicide.Kenny realized that the one thing he had never done was to let go of control. At that moment, he realized that the best way to deal with his pain was to give up control. To simply let go of his pain. And that is what he did and was able to heal.Lessons learnedBe brave and face your pain to heal from itThe one reason why most people hold back on dealing with their pain is that they think it will be this horrible thing that they will not survive. They do not realize that once you choose to face your pain, you start to grasp it and realize that it was not as bad as you feared it is.Self-forgiveness starts with accepting your flaws and mistakesFor the self-forgiveness process to work, you must accept your flaws and mistakes. Once you accept them, you start letting go, and you start pushing yourself to your true self.If you can make peace within yourself and forgive yourself, you open yourself up to love.Andrew’s takeawaysLet go and see change happenThe most significant change in your life will happen when you let go, not when you hold on.Write it all down to find healingPeople still have behaviors, mannerisms, and reactions based upon things that happened at a young age. You can benefit from this by grabbing a piece of paper and writing down the top 3-5 worst things you’ve done.Do not show them to anybody; just write them down. This will begin the...

BIO: David Barnett is the author of 21 Stupid Things People Do When Trying To Buy a Business. Presently he works as a private transaction advisor with people buying or selling a business.STORY: We get a preview of his book as he takes us through the top 5 stupid mistakes people make when buying a business.LEARNING: David shares a host of lessons for people trying to buy a business.&nbsp;“If something looks like a really good deal and you don’t know about that industry, ask yourself why isn’t somebody else in this industry picking up this company.”David Barnett&nbsp;Guest profileDavid Barnett loves to say that it took him 10 years to un-learn what he was taught in business school. University had trained him to be a middle manager in big enterprises, and he was unprepared for the realities of small business.After a career in advertising sales, David started several businesses, including a commercial debt brokerage. Helping to finance small and medium-sized businesses led to the field of business brokerage. Over several years, he sold dozens of businesses for others while also managing his own portfolio of income properties and starting his career as a local private investor.David regularly consults with professionals and banks on business and asset values. Presently he works as a private transaction advisor with people around the world who are buying or selling a business. Find him at Davidcbarnett.com.Worst investment everIn this episode, we will jump straight to the top five stupid mistakes that people make when buying a business, as explained in David’s book 21 Stupid Things People Do When Trying To Buy a Business: Learn how to avoid these awful novice mistakes. Then we will look at some of the things that Andrew takes away from the interview.Lessons learned1. Failing to understand how businesses are valuedA lot of small business owners and potential buyers do not understand that it is not the business that is being bought or sold; it is the cash flow. So when purchasing a company, find out how much cash flow it is generating, then ask yourself as a buyer, what are you willing to pay for that cash flow, given your ability to run the business.Also, when looking at growth opportunities, while there could legitimately be an opportunity, do not pay the seller for it because you are the one that has to do the work to deliver the result, not the seller.2. Failing to account for the value of the buyer’s laborMost people will be very optimistic about a business’s cash flow, and they will not put a high enough price on their own time when they are examining the business.3. Failing to account for the value of capitalPeople always forget that they need a return on the cash they put in the deal. When you put money that you have saved up over years or decades into an acquisition, you need to get an adequate rate of return on that equity you have put in.4. Overcommitting projected free cash flow to debt serviceGo for a business with a much greater debt service coverage ratio because the last thing you want is a cash crunch that bleeds out your free money.5.

BIO: Marc Miller is the founder of Career Pivot, which helps those in the second half of life design careers that they can grow into for the next 30 years. He is also an author and podcast host.STORY: Marc was a relentless risk-taker until a bike accident, and the risk of contracting SARS-CoV-1 stopped him hot on his heels.LEARNING: Learn how to evaluate risk and ask for help if need be. Step back and think about what you really want to do with life. Andrew’s advice is to be grateful, like what you do, keep life simple, find clarity and let go.&nbsp;“For new things to begin, we often have to end old things.”Marc Miller&nbsp;Guest profileMarc Miller is the founder of Career Pivot, which helps those in the second half of ife design careers that they can grow into for the next 30 years. Marc authored the book Repurpose Your Career: A Practical Guide for the 2nd Half of Life, published in September 2019.Marc is a recovering engineer, a multipotentialite, and a professional career-changer as he has made six career pivots over the last 35 years.Marc is also the podcast host of the award-winning Repurpose Your Career Podcast.Worst investment everMarc has had a series of events in his life that forced him to take a step back, take a look at his life and make a couple of adjustments.The risky rideIn July of 2002, Marc was riding with his bicycle club and was on what he thought was a pretty nonrisky ride. He came down a hill, turned into a blind turn; going about 30 miles an hour, he slammed into a car head-on.Marc spent five days in the trauma center. He had a torn knee, a broken hip, a dislocated shoulder, a bunch of broken ribs, and a couple of other minor injuries. Fortunately, he had no internal injuries.Putting himself in harm’s way againMarc was back on a bike in 10 weeks, and in four months, he was flying to China, heading to Guangdong province, which was the epicenter of the SARS-CoV-1 outbreak. He stayed there for three days, oblivious to the severe disease.During his flight, Marc sat next to a woman who was heading to Hong Kong. He emailed her afterward and asked her about her trip. She informed him that she had got seriously ill. The world did not know till three months later that it was SARS-CoV-1.Questioning his decisionsMarc was fortunate not to get SARS-CoV-1; however, this and the bike accident got him questioning why he was making such risky decisions.Marc decided to start doing less risky stuff. He went to teach high school math. He left teaching after two years, highly successful but exhausted and depressed. Then he did a year of nonprofit work. Then he got sucked into another startup but later decided he had had enough.Stepping back from it allAfter quitting his last job, Marc decided that he had enough money to reshape his life and do something more meaningful and refreshing. He started making some very conscious decisions, and one of those decisions was to move to Mexico in 2018.Lessons learnedStep back and think about what you really want to do with lifeMarc had a lot of preconceived ideas of what he should do. After the events in his life, he decided to step back and ask himself what he truly...

BIO: Taylor Ryan is an American entrepreneur and a 6x startup founder with 13+ years of marketing and startup experience spread across 10 industries within large and small organizations.STORY: Taylor wanted to be financially independent straight from uni, but he graduated at the height of the economic crisis so that he couldn’t get a job. While networking, he met two guys who invited him to join their e-commerce startup in the food-tech niche. He joined them, and they created a fantastic platform but barely made any sales. Their mistake was creating a platform that no one needed.LEARNING: Talk to your ideal customer to find out if there is a need for your product. Make sure that you have monthly financial statements for your startup.&nbsp;“There’s a ton of people selling products that there is no market for and without speaking to customers.”Taylor Ryan&nbsp;Guest profileTaylor Ryan is an American entrepreneur living in Copenhagen, Denmark. He is a6x startup founder with 13+ years of marketing and startup experience spread across 10 industries within large and small organizations. His current projects include:ArchitectureQuote - Saas platform for architectsKlint - Creative digital marketing and growth hacking agencyorg - Online digital marketing courseio - Public speaker, workshops, and innovation consultingWorst investment everTaylor graduated in December of 2008 at the height of the economic recession. He had always been super ambitious, so he was ready to start making some money after school. Unfortunately, nobody was hiring, and despite all his best efforts, he kept getting doors slammed in his face.Going the business routeTaylor realized that he had to build his own business to get a chance at making real money. He bounced around for the better part of two or three years with guys that he admired from afar. Then he started working underneath them, but he did not like it much.Taylor found himself doing two to three networking events a week, and in one, he ran into some guys that were planning to start an e-commerce startup in the food-tech niche. The duo had this exciting concept of building an online platform that would allow anybody with a food allergy to find new and interesting food items that would enable them to enjoy all their favorite foods without getting an allergy.Joining the tag-teamTaylor thought that the concept was pretty okay and so he agreed to join the duo. In about eight months, they had built a complete platform with close to 1,500 products on sale. Then they made an app for iOS and Android to allow people to discover and order new items.The elusive financial independenceThe three partners believed that this venture would be their bridge to financial independence. Unfortunately, this would not be. Even though they had a superb idea, people did not buy into it for one reason; nobody wanted to pay extra for shipping for stuff they could buy at the supermarket and food markets.Taylor only got to learn this after talking to several people who had signed up on the platform but were yet to make a purchase.Lessons learnedDo your research before you hit the marketDo your market research in advance. Taylor advises entrepreneurs to talk

BIO: Matt Franklin and a friend developed PostureNow to help people improve their posture. They presented it at Shark Tank and ended up making pretty good money from the device. Matt also runs his video production business, Bottle Rocket Labs, and has found a new obsession of learning about investing and preparing for retirement.STORY: When Matt was 28, he had a job while studying economics. Even though he was making good money, he blew it all. Matt regrets not buying a house then because today it would be worth so much.LEARNING: Buy a house when you are young, especially if you know you will stay put for at least four years. Take advantage of incentives given to home buyers in the US. Andrew’s advice is to invest in what is right for you.&nbsp;“Young people, buy that house and start the compounding effect today.”Matt Franklin&nbsp;Guest profileMatt Franklin and a friend developed a goofy little invention to help people improve their posture. Once they had sold more than $100,000 worth of that product, they found themselves in the Shark Tank. After that appearance, things blew up temporarily, and they made pretty good dough; the company PostureNow, still operates to this day.He also runs his video production business, Bottle Rocket Labs, and has found a new obsession of learning about investing and preparing for retirement. He shares what he is learning on his Rogue Retirement Lounge podcast.Worst investment everWhen Matt was in school majoring in economics, he also had a daytime job that paid a pretty good salary. Unfortunately, Matt spent all his money on pointless stuff. He even continued to take on more student loans and deferred paying them. He only finished paying his student loans in 2020.He should have been wiser and bought that houseLooking back, Matt admits that he wasted so much money when he was young, money that should have gone towards buying a house.Lessons learnedBuy a house as early in life as possibleIf you can stay put for at least four years, buy a house when you are still young. In four years, the value of that house will have gone up, and it will be worth a lot more should you choose to sell or rent it out.Question your beliefs and welcome opposing viewsQuestion your beliefs and interact more with people who oppose them so you can hear opposing viewpoints. Use your intellectual curiosity to find out what other opinions, other than yours, exist out there.Andrew’s takeawaysInvest in what is right for youInvestment is different for everyone. For some, buying a house may be the right thing, given their circumstances, while for others, renting makes better sense. Ultimately, do what is right for you.Incentives for buying a house in the USSeveral incentives make it easy and profitable to buy a house in the US:Fixed 30-year mortgagesLong-term low-interest ratesFixed mortgage payments beat inflation over timeA house is an insurable assetTax deductions related to mortgage paymentsThe value of a house will never crash to zero as compared to stocksYou can opt for a reverse mortgage to draw...

BIO: Austin Belcak is the founder of CultivatedCulture.com, where he helps people land jobs they love without traditional experience and without applying online.STORY: Austin made two mistakes. One was to take a terrible job without evaluating if it was indeed a good fit. Two, he spent so much time following jobseeking advice from family and friends who had no experience in the field he was interested in.LEARNING: Successful careers are built from networking and building relationships. Find creative ways to showcase your value when searching for a job. Seek advice from people already doing what you want to do.&nbsp;“Go find people who have already been down the path you want to follow and who are now working in the places that you want to work.”Austin Belcak&nbsp;Guest profileAustin Belcak is the founder of CultivatedCulture.com, where he helps people land jobs they love without traditional experience and without applying online.Austin’s job search system stems from his personal experience transitioning from a new grad with a biology degree, a 2.58 GPA, and a job in healthcare to landing interviews and offers at Microsoft, Google, and Twitter.His strategies have been featured in Forbes, Business Insider, Fast Co, and Inc., and he has helped thousands of job seekers land jobs at places like Microsoft, Google, Amazon, and many more--without applying online.He also hosts The Dream Job System Podcast, where he shares bite-sized, highly actionable career advice.Worst investment everWhen it was time for Austin to go to college, he did not know what he wanted to do. But he chose to be a doctor because it made his parents and their friends happy. So he went to college with the plan to become a doctor, but deep down, he knew that’s not what he wanted to be.In college, Austin spent his time doing all manner of things other than studying. Consequently, he graduated with a 2.58 GPA. Now he could not become a doctor.No desire for workAustin had no interest in joining the formal employment world. He never interviewed for a job and only took an internship because it fell on his laps. The company then offered Austin a job, and he took it no questions asked. He did not even negotiate his salary.Working the worst jobThe job Austin took was horrible. He was selling medical devices, and sometimes he would have to drive over two hours to deliver the devices to hospitals as early as 6 am. His boss was the worst, and he’d keep telling Austin that he was not good enough and had no future. This was quite demoralizing.On top of the bad working conditions, the salary Austin accepted was barely enough for rent, car insurance, groceries, and other expenses. So he ended up racking up about $15,000 in credit card debt in the first couple of months out of school, just trying to make ends meetThe start of his worst investment everAustin knew that he had to quit this job. His goal was to work in tech, but he had no experience. He went to the people we always go to for advice; parents, friends, and career counselors. They all told him the same thing; to tweak his resume and cover letter and apply for jobs online.Austin spent hours and hours of his time online searching for a job without any success. In the first month, he applied to about 100 companies, and not a single...