BIO: Stu Heinecke is a bestselling author, one of the Wall Street Journal’s cartoonists, and a twice-nominated hall of fame marketer.STORY: When Stu started his first business, he stuck to one-to-one leverage, making it impossible to scale his business even though he had some of the most elite clients.LEARNING: You cannot scale your business without the right team. Never cling to one-to-one leverage.&nbsp;“If you want to scale something, you have to have a team.”Stu Heinecke&nbsp;Guest profileStu Heinecke is a bestselling author, one of the Wall Street Journal’s cartoonists, and a twice-nominated hall of fame marketer. His How to Get a Meeting with Anyone was named one of the top 64 sales books of all time, while his next book explores a new growth strategy model based on weeds. His latest book, How to Grow Your Business Like a Weed, will be released in June 2022.Worst investment everStu found himself stuck to the ideology of going to school, getting good grades, getting into a good college, getting good grades there, and then getting a good job. The problem with this ideology is that you can’t scale jobs. You can’t have 1,000 jobs at the same time.Stu found himself following this ideology even when he went into business. He got huge clients, but all he was doing was still one-to-one leverage. His company was still not scalable, but he didn’t realize it because he was stuck to one-to-one leverage. Clinging to one-to-one leverage was his worst investment ever.Lessons learnedYou cannot scale your business without the right team.Andrew’s takeawaysYou can’t scale your operation, your business, or your life alone. Find the right people to help you do it.Actionable adviceTo grow your business fast, go out, find referral partners and work with them right away.No. 1 goal for the next 12 monthsStu’s goal for the next 12 months is to make his latest book, How to Grow Your Business Like a Weed, the number one best-selling growth strategy book in the world.&nbsp;[spp-transcript]&nbsp;Connect with Stu HeineckeLinkedInYouTubeFacebookWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programs<a href="https://valuationmasterclass.com/"...

BIO: Atul Sethi is the founder and managing partner of Farnam Tree, an investment advisor based in Bangkok, which is currently under pre-licensing.STORY: Atul bought stock in a retail business, but the share price plummeted due to poor corporate governance. He kept holding onto the stock in the hopes that the price would go back to what he’d bought it. Instead, it kept going down, and he lost a sizeable amount from his investment.LEARNING: Pay great attention to the people at the helm of the company you want to invest in. Don’t anchor to the purchase price.&nbsp;“Don’t stay anchored to a stock’s purchase price.”Atul Sethi&nbsp;Guest profileAtul Sethi is the founder and managing partner of Farnam Tree, an investment advisor based in Bangkok, which is currently under pre-licensing. After graduating from the University of Chicago, he spent 12 years at Credit Suisse in the Chicago, Singapore, and Bangkok offices. Atul started as a junior investment banker and later worked as a bank analyst in their Thailand Equity Research team. He left Credit Suisse this year and is now focused on Farnam Tree. Atul interned with Andrew in 2006.Worst investment everAtul wanted to invest in the stock market, and his approach was to invest in a company with a substantial competitive advantage. He found a business in the retail industry that seemed like a good fit.All the hard work crushing numbers, looking at the financial statements, and understanding the business model was made by Atul. But, his due diligence ignored some red flags on corporate governance. There was an insider trading issue involving one of the senior management members at the company. This issue, and other questionable decisions, are something that should have caught his eye, but he ignored them and went ahead and bought the stock.Due to these issues, the stock price started going down. Atul made the mistake of holding onto the stock while waiting for the price to return to what he bought it. Unfortunately, the price kept going down, and he’d lost quite a sizeable amount by the time he decided to sell.Lessons learnedPay great attention to the people leading the company you want to buy into.Don’t anchor to the purchase price. If you sense a continuous downturn in the stock, sell it as soon as possible and put that money in another business or investment.Andrew’s takeawaysMake sure you’re fully aware of any corporate governance issues and understand which ones you can overlook and which ones you can’t.Actionable adviceBe objective when evaluating a stock. Write down all the reasons you like and don’t like the stock. Doing this will help you make a more accurate decision.No. 1 goal for the next 12 monthsAtul’s goal for the next 12 months is to get the company’s licensing and structure set up and hopefully present a solution for investing and managing portfolios in Thailand while addressing some of the problems he faced for most of the last decade in Thailand.Parting words&nbsp;“I hope more and more people get access to your podcast and learn from it.”Atul Sethi&nbsp;[spp-transcript]&nbsp;Connect with Atul SethiLinkedIn<a...

BIO: Paul Smith is an independent corporate director and private investor with significant experience in the Financial Services and Investment Funds industries. He served as President and global CEO of CFA Institute from 2015 to 2019.STORY: Paul and his friends put in money to start a hedge fund seeding business in Hong Kong. The financial crisis hit just when they had received about 40% funding and had to pay back the investors who chose to get out. The partners had to close down the business and lost quite a substantial investment.LEARNING: Have a unique business model that investors will want to back. Don’t have a highly concentrated shareholder base. Get your business to at least $3 million as fast as possible to survive.&nbsp;“Don’t allow the excitement of a startup to cloud your judgment.”Paul Smith&nbsp;Guest profilePaul Smith is an independent corporate director and private investor with significant experience in the Financial Services and Investment Funds industries. He served as President and global CEO of CFA Institute from 2015 to 2019.He currently serves as a member of the Oversight, Policy, and Governance Committee of the Financial Reporting Council of Hong Kong. He is a Hong Kong Securities and Futures Commission’s Products Advisory Committee member. He is a founder of the Sustain Finance initiative and a trustee of the China Insight Foundation.Worst investment everPaul made a substantial amount of money from the sale of a business he owned, and he decided to quit his job and go out on his own. He set up a hedge fund seeding business in Hong Kong that he and a couple of other individuals funded with their money. Paul invested seven figures into the business.The plan was to set up the infrastructure behind a regulated asset management company, then go out and raise private equity-type investments to fund an investment vehicle. The investment vehicle would then, in turn, go out and seed investment managers. The partners raised money from a couple of institutions and some family and friends.The fund got regulated, and they began to seed managers, mainly in Asia but scattered worldwide. The company was about 40% invested when the 2008 financial crisis hit. Their institutional partners pulled the rug from underneath them. They paid the institutional partners back and unwound the business. As partners, they took quite a hit when the company ended.Lessons learnedWhen looking for investors, make sure you have a unique business model worth backing.Your shareholder base shouldn’t be too concentrated.Raise enough money for your business for it to survive.Resilience is vital when running a business.Andrew’s takeawaysIf you can’t find any uniqueness in what you’re doing, then be good in execution, or work with someone unique.You’ve got to get your business to between $3 to $5 million in revenue as fast as possible because that is how you’ll afford everything that makes you a professional company that can survive.Sometimes the success of your business depends on your timing into the market.Actionable adviceDon’t allow the excitement of a startup to blind you from implementing the lessons you’ve learned. Check your

BIO: James Foo has been seasoned by nearly three decades of hard knocks and life-worthy experiences. He offers a unique view of life in entrepreneurship, with valuable insights and advice from a panoramic view of things that can save you time and help your company grow.STORY: James badly wanted to be rich, and so when he saw his friend’s dad selling this incredible new machinery, he wanted to join him. James didn’t make a lot of background history on the machines and just started selling them to friends and family. After about nine months, the machines started working poorly and needed to be serviced. James had to return money to his customers when reaching his friend’s dad became futile.LEARNING: Learn the difference between growing and scaling a business. Be aware of what’s happening around you to avoid getting into trouble unaware. Admit once you’ve done something wrong, then apologize and make amends.&nbsp;“He or she who has a better perspective wins. It’s not just about your insight, your influence, and intelligence. Perspective changes the way you see things.”Dato’ James S. W. Foo&nbsp;Guest profileJames Foo has been seasoned by nearly three decades of hard knocks and life-worthy experiences. He offers a unique view of life in entrepreneurship, with valuable insights and advice from a panoramic view of things that can save you time and help your company grow. Many give him the nickname “Business MacGyver.”James brings the know-how of a CEO-entrepreneur who has “been there, done that, still doing it to” help growth-oriented entrepreneurs meet real-world and marketplace challenges to take their company to the next level. James is also an invaluable connector which matches people with opportunities and connections to make things happen! James has founded 80 plus companies in three countries across 15 industries.Worst investment everJames’s good friend’s father was a very powerful individual who brought a lot of new-age machinery equipment into Malaysia. James saw it on TV and wanted to work with him and make lots of money selling one of these pieces of equipment, a water-air generator. So he asked his friend to introduce him to his dad.James was super excited at the idea of being rich and was probably impulsive, so much so that he just did a little background check on this business idea that he was chasing. He met his friend’s dad, who allowed him to work with him. James went door to door, literally knocking and selling this fantastic machine to family and friends. And they bought it just to support his entrepreneurial journey.After nine months of selling, James started getting calls from his customers asking him to service the machine. He had no idea how to service the machines, so he’d dismiss them by telling them that this was high-tech and didn’t need servicing. One phone call became two, then four became, and soon it was a trend. It got so bad that the customers even started calling James’s dad.James tried to meet with his friend’s dad to explain to him about servicing the machines, but he never managed to see him no matter what he tried. After a week or so of trying, James decided to return the money to his customers suffering a great loss.Lessons learnedIf you can’t differentiate between growing and scaling a company, you’re probably doing the wrong thing.Focus on the one thing that will have a domino effect on your business.Andrew’s takeawaysBe aware of what’s happening around you to avoid getting into trouble unaware.Admit once you’ve done something wrong, then apologize and...

BIO: Padmini Janaki is the CEO and Co-founder of Mind&amp;Mom, an AI app that predicts pregnancy abnormalities and cures.STORY: Padmini chased success with everything she had because she believed that’s what she was born and raised to do. It wasn’t until she forgot to feed her daughter that she realized she’d been chasing the wrong thing.LEARNING: Nothing or nobody is as important as you are. So invest a lot in yourself. If we don’t have health, we have nothing.&nbsp;“Invest in yourself because nobody is as important as you.”Padmini Janaki&nbsp;Guest profilePadmini Janaki is the CEO and Co-founder of Mind&amp;Mom, an AI app that predicts pregnancy abnormalities and cures. She is also the author of Myths &amp; Millennials, with 35,000 readers worldwide. Her mission is to save women’s health globally and stop maternal deaths.Worst investment everPadmini believed that people are born and raised to be prosperous and financially stable. So she was in that manual mode while growing up. Padmini studied hard, and when she came out of university and started working, she emersed herself in work. All Padmini thought about was working hard to go up the corporate ladder and earn more. Padmini’s focus was only on how to be successful. Her version of success was making money, being the best employee, and getting promotions every year.Padmini worked non-stop. She even cut short her maternity leave to get back to her career journey. She felt this was what it took to get to the right level of success. One day she forgot to feed her daughter. She had late-night calls with clients and was so engrossed in the meetings that her daughter fell asleep without eating. It wasn’t until the following day, when Padmini’s daughter told her that she’d forgotten to feed her, that she realized she had been investing all her energy and focus into her career while missing out on the most important things in her life.Lessons learnedNothing or nobody is as important as you are. So invest a lot in yourself.Doing something that you’re passionate about instead of working hard to impress your boss or the people around you is the only way to succeed in life. You can be on your own, make the same money, bring the same value, be happy about it, and have a much more balanced life.Andrew’s takeawaysIf we don’t have health, we have nothing. You have to take responsibility for your health.You don’t have to destroy yourself and your health in a business; you can set your limits.Actionable adviceLearn at least one thing every single day. Set aside an hour every day to focus on learning something new by reading a book or watching a YouTube video that talks about something new.No. 1 goal for the next 12 monthsPadmini’s goal for the next 12 months is to go into infertility and hopefully serve 500,000 women so they can have better health.Parting words&nbsp;“Whatever you’re doing, no matter how small, love it and do it with your full heart. I’m sure it’s going to turn out to be something even lovelier.”Padmini Janaki&nbsp;[spp-transcript]&nbsp;Connect with Padmini Janaki<a href="https://www.linkedin.com/in/pjanaki/"...

BIO: Bryan Clayton is CEO and co-founder of GreenPal, an online marketplace that connects homeowners with local lawn care professionals.STORY: Bryan learned about Bitcoin from an employee who claimed to be a miner. He invested $10,000 without further research. Their Bitcoin wallet was hacked six months later, and he lost his entire investment.LEARNING: Don’t do anything unless your whole heart and soul are in it. Understand all the risks you’re exposed to before getting into something new.&nbsp;“There is no one move on the chessboard that wins the game. There are no shortcuts; it’s always a build-up to the win.”Bryan Clayton&nbsp;Guest profileBryan Clayton is CEO and co-founder of GreenPal, an online marketplace that connects homeowners with local lawn care professionals. Before starting GreenPal, Bryan founded Peachtree Inc., one of the largest landscaping companies in Tennessee, and sold it in 2013. Bryan’s interest and expertise are related to entrepreneurship, small business growth, marketing, and bootstrapping businesses from zero revenue to profitability and exit.Worst investment everIn 2012, Bryan got to know about Bitcoin through one of his employees, a Bitcoin miner. The employee explained to Bryan the theory of Bitcoin and what it was. Bryan thought cryptocurrencies were pretty cool, and he was interested in investing in this invisible money.Bryan invested about $10,000 into Bitcoin. Six months later, his employee was in panic mode. Bryan learned that their Bitcoin wallet had been hacked and all their Bitcoin stolen. So, Bryan’s $10,000 went to zero just like that.Lessons learnedDon’t do anything unless your whole heart and soul are in it.You have to get into the game to understand and learn how to mitigate risks.Andrew’s takeawaysIf there were a fast way of getting rich, everyone would do it.New equals risk, so understand all the risks you’re exposed to.Actionable adviceDedicate time to work on yourself while you’re working on and in the business of investing.No. 1 goal for the next 12 monthsFor the next 12 months, Bryan’s goal is to achieve 50% business growth.Parting words&nbsp;“Don’t let risk scare you to stay on the sidelines. Get in the game because only when you’re in the game can you win.”Bryan Clayton&nbsp;[spp-transcript]&nbsp;Connect with Bryan ClaytonLinkedInTwitterInstagramWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid Them<a...

BIO: Puja Talesara Bhandari is an internationally certified Life and Executive coach recognized globally for her out-of-the-box thinking and result-based approach.STORY: Puja put her heart and soul for six months, only for it to be scrapped just 14 hours before its launch. She wasted another two months following up on why the project was canceled instead of moving on to other active projects.LEARNING: You need to know when to stop trying. Always have your primary goal, but don’t lose sight of other goals.&nbsp;“Time is money; invest it well.”Puja Talesara Bhandari&nbsp;Guest profilePuja Talesara Bhandari is an internationally certified Life and Executive coach, recognized globally for her out-of-the-box thinking and result-based approach. She has been recognized for her leadership roles and was conferred as one of the influential women in the millennial space. She was nominated six times as one of LinkedIn’s Wonder Women.Puja Talesara Bhandari firmly believes inward excellence leads to outward excellence. She has her roots in Human resources. She was the youngest leader in the strategic role. She has worked with revered organizations globally. Her personal and professional piqued her interest in coaching. She is being mentored by John Mattone, ex-coach of Steve jobs.She is on a mission to create communities of inspiring courageous and authentic leaders across age span and geographies. Her forte is Personal leadership. She fulfills her purpose through her initiatives catering to gen z, millennial leaders, Entrepreneurs, educators, and entrepreneurs.She has been recognized globally for her work on revered platforms.Few to mention Millennial leaders, 51 influential women, and sculptors. Her life trajectory published in Stories of Asia was amongst the top 5 stories which resonated with different age groups. She is recognized on LinkedIn for her contribution.She has coached 500 + in 12 + geographies. Her journey from a small town from a non-English speaking family to being the first professional in the family, later a global speaker and coach, is a reflection of personal leadership.Worst investment everPuja put her heart and soul into a project assigned to her for six months. Three days before the project’s launch, she called the organization’s executive, inquiring about any pending issues. The executive said she’d get back to her, but she never did.Precisely 14 hours before the launch, Puja was still following up with the executive when she learned that the project had been scrapped. She was so disappointed considering all the work she’d put in, and she didn’t want to accept that it was over. Puja spent another two months following up with the management team on why the project had been scrapped.Lessons learnedYou need to know when to stop trying.Always have your primary goal, but don’t lose sight of other goals.Andrew’s takeawaysTrust is the glue of any business.Actionable adviceStop, scan what’s working and what’s not, create an action plan, and then scale up from that plan of action.No. 1 goal for the next 12 monthsPuja’s goal for the next 12 months is to create communities of inspiring, authentic, courageous leaders across the globe.Parting words&nbsp;“While we are always focusing on changing the environment and the things around us, the real transformation starts within us.”Puja...

BIO: Dr. Harish Pant brings thirty-eight years of global and Indian experience spanning aerospace and defense, aviation, automotive, steel, engineering plastics, lightweighting and composites, industrial design, engineering services, and infra-trade.STORY: Harish was a rising star, excelling in his profession and the youngest department head. Out of nowhere, a senior person was transferred to his department and became the new head. Harish was made the assistant department head. He didn’t understand why this happened and wasted a whole year trying to prove himself.LEARNING: You’ve got to know when something is not worth your time, energy, and attention and, therefore, walk away.&nbsp;“Attention investment is the most fundamental thing a person can do to bring their awareness alive.”Dr. Harish Pant&nbsp;Guest profileDr. Harish Pant brings thirty-eight years of global and Indian experience spanning aerospace and defense, aviation, automotive, steel, engineering plastics, lightweighting and composites, industrial design, engineering services, and infra-trade.He is a contemporary thought leader with the dexterity of technologies (Blockchain, Artificial Intelligence, and IoT) and has worked with numerous global companies.Harish has also created a platform: Utkarsh - Uttarakhand Youth Development, and he’s working towards the development of youth in the state.Worst investment everAbout 25 years ago, Harish was department head for a while when he learned that a senior-level person who had joined the company a month back had been transferred to his department. He was now the department head, and Harish was pushed to position number two. This happened when he was a rising star and the youngest of the department heads. So this demotion came as a shocker to him.Harish tried to find out from management why he’d been demoted, and they told him that it was just temporary and he’d be well taken care of. But he was not convinced. He tried everything he could to convince management that he was the right candidate for the job. This went on for months. Harish placed his entire focus on trying to prove himself. He stayed at the company even when he knew he should leave.Eventually, Harish quit when he got another opportunity, but he feels the time he put his attention to proving his worth was his worst investment ever.Lessons learnedThings will be beyond your control during your career, and that’s ok.Andrew’s takeawaysYou’ve got to know when something is not worth your time, energy, and attention and, therefore, walk away.Actionable adviceAnalyze the whole situation and ask yourself if it’s workable. You must also know who you are, so reflect on the person you are.No. 1 goal for the next 12 monthsHarish’s goal for the next 12 months is to help people transform their lives through a complete process that he has created.&nbsp;[spp-transcript]&nbsp;Connect with Dr. Harish PantLinkedInFacebookYouTubeAndrew’s books<a href="https://amzn.to/3qrfHjX" rel="noopener noreferrer"...

BIO: Adrian Choo is the One and Only Career Strategist in Asia and is the founder of Career Agility International. In three years, he helped more than one thousand clients successfully achieve clarity to enjoy a happier and even more successful career.STORY: Adrian and his friend started a technology company that ran for three years. They had to call it quits when they couldn’t scale the business.LEARNING: Don’t go into business just because you want to be in business; acquire domain expertise first. Entrepreneurship is a long game.&nbsp;“Don’t they say the early bird gets the worm? Sometimes it isn’t true. It’s the second mouse that gets the cheese.”Adrian Choo&nbsp;Guest profileAdrian Choo is the One and Only Career Strategist in Asia and is the founder of Career Agility International. In three years, he helped more than one thousand clients successfully achieve clarity to enjoy a happier and even more successful career!Worst investment everAdrian wanted to start a business again after his first entrepreneurial stint. So he sat down with friends and brainstormed business ideas. They created a company doing electronic marketing. They got funded, ran it, and engineered many groundbreaking technologies in electronic marketing, data analytics, and lifestyle marketing.Adrian and his friends ran the business for three years. They were successful at first but had difficulty scaling it. Eventually, they decided to call it a day and go their separate ways.Lessons learnedDon’t go into business just because you want to be in business. First, acquire domain expertise, have a solid business foundation or idea, and then go into business.Understand the market before becoming an entrepreneur, not the other way around.Andrew’s takeawaysEntrepreneurship is a long game. When you go into entrepreneurship, be prepared to dedicate the next five or ten years of your life or even your lifetime.Set a goal to get to $3 to $5 million in revenue as fast as possible, possibly within three years. This is enough money to cover the overheads of running a real business.Actionable adviceYou have to make mistakes to learn from them. But on the flip side of it, it’s better to learn from other people’s mistakes. If you want to go into business and be an entrepreneur, Adrian recommends that you watch all seven seasons of Shark Tank, the American version.No. 1 goal for the next 12 monthsAdrian’s goal for the next 12 months is to help another 1,000 people get more career clarity and enjoy and refocus their lives around their careers and everything else that’s important to them.Parting words&nbsp;“Stay tuned to Andrew Stotz; he knows his stuff. So, learn a lot from him. He’s the best or the worst.”Adrian Choo&nbsp;[spp-transcript]&nbsp;Connect with Adrian ChooLinkedInWebsiteAndrew’s booksHow to Start Building Your Wealth...

BIO: Shang Saavedra reached the ability to be work-optional by the time she was 31 years old by focusing on increasing her income, lowering her expenses, and investing all her savings.STORY: Shang was ill-advised to buy a life insurance policy with the promise of getting 6-7% returns. She trusted the financial advisor without doing any research on the policy. The policy is barely making any returns.LEARNING: Do due diligence on the motivations of any financial advisors that you take on. Scrutinize any figures and illustrations that you get.&nbsp;"You should be able to explain your investment to your teenage self. If your teenage self cannot understand it, then don't invest in it."Shang Saavedra&nbsp;Guest profileShang Saavedra reached the ability to be work-optional by the time she was 31 years old by focusing on increasing her income, lowering her expenses, and investing all her savings. During the day, Shang is a corporate working mother, and at night, she creates content around investing, personal finance, and mindset, on her blog savemycents.com and Instagram @savemycents.She has a heart for teaching Americans how to retire with dignity, focusing on mental health, behavioral psychology, and an attitude of doing things scared. She lives with her husband, child, and two cats in New York City.Worst investment everWhen Shang was in her mid-20s, she was scouting for an investment that would help her avoid income tax as much as possible or reduce her income tax liability. A financial advisor she was talking to sold her a whole life insurance policy that he claimed would give her six to seven percent returns. Shang bought the policy with yearly premiums of $5,000.It was only a year later, when Shang started reading more into the whole life insurance policy and its financial statements, she realized the growth rates that the financial advisor had illustrated to her were unrealistic. In reality, the value of her policy was likely growing close to inflation.Thankfully, the $5,000 premium wasn't a ton of money relative to how much Shang invests today, and she's not losing money, but she's not making good returns either. But it's still her worst investment ever, and she feels so shameful because as a highly educated person who can run her numbers, she ended up with this pretty awful investment.Lessons learnedDo due diligence on the motivations of any financial advisors that you take on.Scrutinize any figures and illustrations you get, especially those with unbelievable growth rates.Be able to explain your investment to your teenage self. If your teenage self cannot understand it, don't invest in it.Andrew's takeawaysYou have a right to ask how much you're paying, who's getting paid, and who's getting a cut. The financial professional must explain it to you.Actionable adviceOnly buy term life insurance as it's a very reasonable policy, price wise for you to put some money into each year to provide for the people who depend on you.No. 1 goal for the next 12 monthsShang's goal for the next 12 months is to make as many new connections at her new company and do the best that she can there.Parting words&nbsp;“Do it scared, but do it anyway.”Shang...

BIO: Patrick Huey is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy®, and an Accredited Tax Preparer.STORY: Patrick bought a technology stock based on rumor and peer recommendation. He didn’t do any research and the stock ended up losing value.LEARNING: Don't just come into an investment seeking an investment, seek an outcome. Overestimate your risks and underestimate your gains.&nbsp;"Overestimate your risks and underestimate your gains."Patrick Huey&nbsp;Guest profilePatrick Huey is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy®, and an Accredited Tax Preparer. He earned a bachelor’s degree in History from the University of Pittsburgh, and a Master's in Business Administration from Arizona State University.Patrick served nine years as a U.S. Naval Flight Officer earning the Strike Fighter Air Medal during combat operations and two Navy Achievement Medals.He is the author of History Lessons for the Modern Investor and The Seven Pillars of (Investment) Wisdom.Patrick specializes in creating financial plans, generating a retirement income stream, and managing investment strategies. Contact him for help growing, spending, and gifting your wealth.Worst investment everWhen Patrick got a stable income, he started talking and listening to some of his friends about stocks. He figured they were a heck of a lot smarter than he was, so he listened pretty intently. Then Patrick bought a high-flying tech stock based on his friends' advice. At the time, Patrick could only afford to buy one stock at a time and added to his portfolio when he could.Patrick created a highly volatile, barely diversified technology/Internet stock portfolio. He did no research and bought the stocks on rumors and recommendations from a peer group. He thought nothing about risk mitigation or even his tolerance for loss.Patrick was pretty sure at that point that he was an investment genius and would retire early on an island somewhere. Then the market started to slide, and he figured he was just going to add to the position. Then 911 happened, and Patrick got pretty busy. After 911, when he finally checked his account, his 10s of 1000s of dollars had turned into a few 100. He eventually sold that stock and just moved on.Patrick got smarter about money and understood that you don't amplify your mistakes by continuing to buy something that has no earnings, no business model, no profits, no nothing. And to also diversify his portfolio.Lessons learnedDon't just come into an investment seeking an investment. Come into an investment seeking an outcome.Overestimate your risks and underestimate your gains.Personal finances are just that; personal. So forget what your friends are doing.Educate yourself about investing.Andrew's takeawaysJust following other people and not doing your research ends up in disaster.We do not create wealth in the stock market. We grow wealth in the stock market.Actionable adviceUnderstand how you think before you can think clearly. Keep emotions out of investing.No. 1 goal for the next 12 monthsPatrick's goal for the next 12 months is to be a little bit better at something every single...

BIO: Jacent Wamala is a licensed marriage and family therapist turned money mindset coach and wealth &amp; wellness university founder.STORY: Jacent accumulated huge student loans while in graduate school in her pursuit to fulfill societal expectations.LEARNING: Put boundaries, stipulations, and structure in your life. Have a clear vision about where you want to be.&nbsp;"Don’t focus on receiving a specific outcome, instead, be more open to learning and figuring out what comes next after that."Jacent Wamala&nbsp;Guest profileJacent Wamala is a licensed marriage and family therapist turned money mindset coach and wealth &amp; wellness university founder.Women of color rely on her expertise and “been-there-done-that” guidance to write the best chapters of their lives. With her by their side, they discover how to overcome debt, level up their income streams, and achieve impactful, life-changing financial freedom. Tap in with Jacent so she can teach you how to do the same.Her goal is to help her community become aware of the limiting beliefs and fears getting in the way of their financial freedom and empower them to create a plan to reach their goals. She does this by educating regularly on her podcast and IG page, both with the name, Jacent's Gems.Worst investment everJacent had this checklist that she felt she needed to check off to be considered successful when growing up. So she went to school, got her diploma, went to college, got a good degree, and then got a good job. In her pursuit to fulfill societal expectations, she decided to join graduate school. Grad school left her with about $70,000 in student loans. Jacent was so hang up on fulfilling expectations that she didn't even consider looking for a scholarship. She feels that the worst mistake she ever made was taking up this debt.Lessons learnedPut boundaries, stipulations, and structure in your life.Success is not about feeling like doing something at the moment. It's about being convicted to the point that you must do it because you recognize the consequences would be higher if you don't follow through.Instead of focusing on being attached to an outcome, experiment and observe the data you receive. Then be open to what comes after that.Andrew's takeawaysSet your intention about where you want to be, and shift that focus from the pain, suffering, struggle, and obstacles preventing you from achieving success.Have a clear vision about where you want to be.Close your financial books every month.Actionable adviceGet off the fence, pick a side, and then go from there.No. 1 goal for the next 12 monthsJacent's goal for the next 12 months is to have the healthiest mind, body, and spirit possible.Parting words&nbsp;"The only way that you're going to feel fulfilled in your life is by following through on things that you have thought of and said that you wanted to do for yourself."Jacent Wamala&nbsp;[spp-transcript]&nbsp;Connect with Jacent WamalaLinkedIn<a href="https://www.facebook.com/groups/wwustartshere" rel="noopener noreferrer"...

BIO: Ajinkya Kulkarni is the co-founder and CEO of WintWealth. His company offers high net-worth individuals and retail investors asset-backed fixed income products that provide higher returns than fixed bank deposits.STORY: Ajinkya gave money to a friend who promised to give him a return of nine percent every month. After receiving returns for about a year, payments stopped. He never got back the money he had invested.LEARNING: Focus on the investment process, not the result.&nbsp;"Don’t stop investing. Keep focusing on the process. It's a long game."Ajinkya Kulkarni&nbsp;Guest profileAjinkya Kulkarni is the co-founder and CEO of WintWealth. His company offers high net-worth individuals and retail investors asset-backed fixed income products that provide higher returns than fixed bank deposits.Worst investment everAjinkya gave money to a friend who promised to give him a return of nine percent every month for about a year. Ajinkya would reinvest the monthly interest. After about a year, the friend stopped paying him the returns and never paid back the money Ajinkya had invested.Lessons learnedFocus on the investment process instead of the result.Educate yourself on the risks and then make an informed choice.Andrew's takeawaysYou're going to have bad outcomes not due to bad skill, but just due to luck. It’s, therefore, important to just keep focusing on improving your investment process.Actionable adviceKeep focusing on the process because investing is a long game. If your strategy is correct, you can be unlucky once or twice, but you cannot be unlucky forever. So keep improving your process, your craft, and your skill.No. 1 goal for the next 12 monthsAjinkya’s goal for the next 12 months is to educate 1 million customers and continue to deliver a kickass customer experience.Parting words&nbsp;“Self-awareness is very crucial in investment.”Ajinkya Kulkarni&nbsp;[spp-transcript]&nbsp;Connect with Ajinkya KulkarniLinkedInWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock Market<a...

BIO: Neil Twa is the founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private label e-commerce businesses for the last nine years.STORY: Neil partnered with a local community on a project he believed would be a gamechanger. He found out that he was being defrauded and had to quit the project losing his entire investment.LEARNING: Get a mentor. Know the people you partner with well before you get down to any business.&nbsp;"Stop and sleep on it, and if you still feel confident about it in the morning, then you go for it."Neil Twa&nbsp;Guest profileNeil Twa is the founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private label e-commerce businesses for the last nine years. As of today, he and his clients have sold over $100 million in physical products primarily through the Fulfilment by Amazon (FBA) sales channel. Neil shares his blueprint for how to build an online business that can generate a passive six-figure almost automated income in just 12 months while setting up the business for potentially millions in sales within 18 months.Worst investment everNeil got involved with some local community guys in Oklahoma. The group sold him on a concept for a new product that was going to help the oil and gas industry. The product would help save price points on the power grid while allowing residential homes and businesses the ability to become demand elastic to the grid. Neil bought into that vision and believed that it would be amazing technology.The investment was a solid one on paper. But over time, Neil started questioning the future of the project. They had raised millions from investors to get this business off the ground, but somehow, they couldn’t make it to a prototype. There was always one excuse or another. The project wasn’t moving forward as it should even though there was money put into it. So where exactly was the money going?One day Neil walked into the office and noticed a piece of paper that was a different accounting than the one that he had recently received. The paper showed money was going to other people instead of going to product development. At that point, Neil realized that he was being defrauded.Neil had to distance himself from the project and it left him completely broke. He felt like a failure and ashamed for getting people who trusted him involved.Lessons learnedHave a mentor or someone who is willing to listen to your business ideas.Before you partner with people, understand a little bit more about who they are and their key competencies.Andrew's takeawaysIt’s normal to lose confidence when facing failure.Make sure your monthly financial statements are accurate and on time. Review them every month without fail.Actionable adviceDon’t make a quick decision. Stop and sleep on it. If you still feel confident about it in the morning, then you go for it.No. 1 goal for the next 12 monthsNeil’s goal for the next 12 months is to continue to build and exit brands.Parting words&nbsp;“Feel the fear and do it anyway, but be smart about it.”Neil Twa&nbsp;[spp-transcript]&nbsp;Connect with Neil Twa<a href="https://www.linkedin.com/in/neiltwa/" rel="noopener noreferrer"...

BIO: Jofin Joseph is a third-time entrepreneur who chose education and early childhood development as an area to work within his new startup, Totto Learning.STORY: Jofin and his friends closed their startup after college to seek employment. After two years, they realized that they learned more from their startup than from their jobs, so they quit and returned to their startup.LEARNING: Today's the best time to start. Stop thinking and start doing.&nbsp;"Stop planning, start doing."Jofin Joseph&nbsp;Guest profileJofin Joseph is a third-time entrepreneur who chose education and early childhood development as an area to work within his new startup, Totto Learning.He has had a successful exit in his previous startup and is a huge believer in failures being the best way to learn fast.Get a 10% discount (Use coupon code: FRIENDOFTOTTO) on Totto Nurture - Assisted home learning for early years.Worst investment everJofin and a few of his classmates had a small startup in college offering software services and building websites. At the end of college, they decided to part ways, get employed, gain some experience, earn some money, and then come back and start up again.Jofin got hired by one of the largest IT services companies in India. The company was a great place to work. He got a lot of exposure to the IT world and worked with great people, and the company culture was the best.About a year down, it started hitting Jofin that the team was probably doing more in terms of having fun building stuff in college than in employment. Though they were now making money, they didn't enjoy what they were doing. It took them two years to quit their jobs and return to their startup. For Jofin, those two years he spent in employment instead of working on his startup are his worst investment ever.Lessons learnedNo time is too late. Today's the best time to start. Stop thinking and start doing.Have a great set of people around you who can encourage you to work on your ideas.Andrew's takeawaysTake advantage of the opportunities around you.Don't be afraid to start that startup you're thinking of.Actionable adviceStart, nothing is as difficult as you think it is once you start.No. 1 goal for the next 12 monthsJofin’s goal for the next 12 months is to touch 50,000 parents and change their lives for good.Parting words&nbsp;“Reduce risk and grow.”Jofin Joseph&nbsp;[spp-transcript]&nbsp;Connect with Jofin JosephLinkedInFacebookTwitterInstagramWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock...

BIO: As founder and CEO at Stack, Smriti Tomar strives to make investing accessible and affordable for India's 440 million millennials to help them save for their life goals.STORY: Smriti took feedback from investors and used it to change her product. Customers hated the new version. After listening to her customers, she had to put in more time and money to build the product the customers—not investors—wanted.LEARNING: Invest in your customers, not investors. Be very prudent about where you invest your time in. You need a narrow focus to be successful, particularly with a startup.&nbsp;"Time is the only capital that no investor or VC can give you, so invest it wisely."Smriti Tomar&nbsp;Guest profileAs founder and CEO at Stack, Smriti Tomar strives to make investing accessible and affordable for India's 440 million millennials to help them save for their life goals.Stack is the Vanguard for India. Through its automated savings, investments, and financial planning, Stack helps millennials stop wasting money and start making better financial decisions.She is devoted to and excels in three areas—each area strengthening the others: marketing and product management; creating a venture that creates awareness, accessibility, and personalization around financial services; and women’s business success.Worst investment everWhen Smriti started her company, she soon realized that she would need capital to build many things, hire more people, expand, and ultimately create something that people could use. So she started approaching all kinds of investors, angels, and venture capitalists. Every new investor that Smriti would meet would say they love the product and give her some feedback.Smriti started making changes based on feedback from potential investors. Eventually, the product started deviating from what it was supposed to be. It took Smriti about two to three months to complete the first round of funding and get the capital. She then started working on the product. Once it was complete, she tested with her friends, family, and network. They tried out the product, and they liked the idea, but many people could not use many of its features because they seemed complicated.Smriti spent a lot of time talking to her customers to discover their pain points. She got such simple complaints that she could quickly solve them through the most specific features. Smriti had to start from scratch, causing her to spend a lot of time and put in a lot of money again to build the product customers wanted.Lessons learnedBe very prudent about where you invest your time in.Invest not into the investors but in your customers because these are the people whose lives you're supposed to add value to.Don’t give in to the urge to please others.Don’t give in to the fear of missing out. You're supposed to make mistakes, learn from them, and then move on.Trusting your instincts is much more important than following what others are saying.Andrew's takeawaysIt's so easy to create complexity and so hard to create simplicity.You need a narrow focus to be successful, particularly with a startup.Nail your unique selling point down to that one thing that people would repeat to others.Actionable adviceListen to your customers and interact as much as you can with them. They have all the answers you probably are looking for. Also, be prudent in terms of what feedback and advice you act upon because

BIO: Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. She owns many businesses in several different industries. As a 20-year veteran in the M&amp;A industry, she is regarded as the leading authority on buying, selling, fixing, and growing businesses.STORY: Michelle met a business leader at a conference, and he convinced her and others to invest in a tech company in South Africa. The excitement of investing outside of the US got the best of her. She invested over a quarter of a million dollars and even convinced her husband to invest a similar amount. The business leader got into a massive fight with the company’s CEO, and needless to say, the investors never made anything out of it nor got their money back.LEARNING: Always make decisions based on logic, not emotion. Separate the research that you do on risk and return. Have trusted advisors.&nbsp;“Get a mentor that has been down the road you want to travel, early on. This will shorten your learning curve and path to success dramatically.”Michelle Seiler Tucker&nbsp;Guest profileMichelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. She owns many businesses in several different industries. As a 20-year veteran in the M&amp;A industry, she is regarded as the leading authority on buying, selling, fixing, and growing businesses. She and her firm have sold over a thousand businesses in almost every vertical and have a remarkable track record of success.She is the Best-Selling Author of the book “Sell Your Business for more than It’s Worth” and has a new book called “Exit Rich®,” a Wall Street Journal and USA Today bestseller!In addition to being featured in INC, Forbes, Entrepreneur Magazine, and USA Magazine, Michelle is an international keynote speaker and makes regular radio and TV appearances on Fox Business News and CNBC.She has spoken alongside many prominent speakers: Eric Trump, Arnold Schwarzenegger, Kathy Ireland, Donna Karen, Stedman Graham, Randi Zuckerberg, Steve Wozniak, and more.She holds the Mergers &amp; Acquisitions Master Intermediary (M&amp;AMI) title, as well as Certified Mergers and Acquisitions Professional (CM&amp;AP) and Certified Senior Business Analyst (CSBA).Worst investment everMichelle met a business leader during a conference who talked her and several other attendees into investing in a technology company in South Africa. Michelle was excited she’d wanted to do something unique outside of the United States.Michelle invested over a quarter of a million and convinced her husband to invest a similar amount. The investment was just a disaster. The business leader ended up getting into a big fight with the company’s CEO, and he went his separate way. Michelle and other investors fought for years to make something work or get their money back. It’s been about seven years now, and they still don’t have their money back.Lessons learnedWhen somebody is trying to raise capital from you, make sure that they’re doing it the right way. Make sure they’re following all the rules with the SEC.If you’re going to invest in a company outside of the United States, do your due diligence and have some alliances in that country.Have trusted...

BIO: Harry Spaight is a Keynote Speaker, Coach, and Author of Selling with Dignity-Your Formula for Life-Changing Sales Results. STORY: Harry invested in mobile homes in Georgia without researching. He trusted a young man he knew through the father. In just three months, the houses were run down, and the tenants refused to pay rent. Harry lost over $100,000 that he’d made from selling his home.LEARNING: Get a financial advisor that you trust and consult before making an investment decision. Collaborate with the right people. Do your research.&nbsp;“Stick with what you’re doing and get better at it.”Harry Spaight&nbsp;Guest profileHarry Spaight is a Keynote Speaker, Coach, and Author of Selling with Dignity-Your Formula for Life-Changing Sales Results.After spending several years in mission work, Harry has been succeeding in Sales as an Award-Winning Multi-million Dollar Sales Producer and Sales Leader for over two decades.Selling successfully can be achieved with timeless principles. Putting others over self, being a good listener, and doing the right thing all go a long way towards growing a successful business.Worst investment everIn the early 2000s, Harry met this young guy who was a real go-getter. He played golf with his dad, and the three built a great relationship. The young guy moved to South Carolina and got into real estate.The young man called Harry and told him about this opportunity he had investing in mobile homes. He said to him that all he had to do was make a low investment, allow him to use his credit, and the young man would take care of everything. Harry would then receive rent at the end of the month.Harry had just sold a house and made some money from it. He used this money to invest in six properties in a small town in Georgia. Soon enough, he started making passive income from the properties. He was making about $1,000 a month. Everything was working out great.About three months in, everything started going wrong. People stopped paying rent, and the property management left. Now Harry had to fly from Virginia to Georgia to collect his rent. He was shocked by what he saw. The properties were a slum. When he spoke to the tenants, they all refused to pay rent because the houses had so many issues.Now the $1,000 rent he was receiving turned into Harry paying somewhere around $4,000 a month in mortgages. The money he had made from the house sale started to dwindle. Harry went back to the young man and asked for his money back. The young man suggested that he give him three better houses, which would make him more money. Foolishly, Harry accepted the offer. His bills went up to $6,000 a month. The $100,000 he had made from the house sale was gone within a few months.Lessons learnedGet a financial advisor you trust, and bounce your ideas off of them before putting your money down.Andrew’s takeawaysYou cannot build a sustainable business without relying on others. So spend time thinking about who you’re committing to do something with because chances are, you’re going to be with them a lot longer than you think.Take time to think through every investment and do thorough research before signing off on it.Actionable adviceHave a team of smart people around you.No. 1 goal for the next 12 monthsFor the next 12 months, Harry’s goal is to get his book <a href="https://amzn.to/3DYaR4n" rel="noopener noreferrer"...

BIO: Satima Meanlamai, nicknamed Tao, is the founder of the Vietnam Value Investor group, Thailand.STORY: When Satima started investing in the stock market, she’d only invest in companies she liked and hardly took time to study other stocks or learn more about the companies she invested in. Though lucky initially, this investment strategy didn’t work out for Satima in the long run, and she lost almost all her savings.LEARNING: Invest in yourself and never stop learning. Move beyond home country bias and invest in global stocks.&nbsp;“Hang around people who motivate you to learn.”Satima Meanlamai&nbsp;Guest profileSatima Meanlamai, nicknamed Tao, is the founder of the Vietnam Value Investor group, Thailand. She works full-time as an architect but believes long-term stock investing in Vietnam would grow her savings with less effort.Her motto is, “When in doubt, just keep investing and learning.”Worst investment everWhen Satima started investing, she didn’t know much about the financial industry, P/E ratio, dividends, etc. She would invest in the companies she likes. She barely looked at the details of the companies. Satima got lucky, and the stocks grew, and she made a bit of return.Satima then decided to get more aggressive and put all her savings into the stock market. Again, she barely looked at the details of the companies she invested in. Five years later, economies slowed down, and her stocks started drying up.Lessons learnedInvest in yourself and never stop learning.Andrew’s takeawaysMove beyond home country bias and invest in global stocks.Don’t get stuck on beginner’s luck and think that investing is easy.Keep investing and learning.Actionable adviceMingle with people who love learning, who are inspiring and motivational, and it will rub off on you. Remember, you are the average of five people you spend time with.No. 1 goal for the next 12 monthsSatima’s goal for the next 12 months is to travel to Vietnam and learn Vietnamese.Parting words&nbsp;“Keep investing and learning.”Satima Meanlamai&nbsp;[spp-transcript]&nbsp;Connect with Satima MeanlamaiFacebookYouTubeAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock...

BIO: Jack McColl, the founder of Credit Stacking, has the knowledge and in-depth understanding of the credit stacking strategy. He has mentored thousands of entrepreneurs and been a part of growing multiple 7-figure businesses.STORY: Jack lived in Bali for three months when he was 26. He saw an opportunity to create an Airbnb business there, got a few houses, and hired locals to help manage day-to-day business activities. He paid rent and wages in cash, but problems from the landlords and his staff were all he got. Jack barely made any returns from the venture.LEARNING: Do a lot of market research before you venture into any business. Finance your deals with 0% interest business credit.&nbsp;“The more you can borrow, the more you can make, and the higher chance of success you’re going to see in any business venture.”Jack McColl&nbsp;Guest profileJack McColl, the founder of Credit Stacking, has been featured on MarketWatch, Disrupt Magazine, Yahoo Finance, and many other publications and podcasts for his knowledge and in-depth understanding of the credit stacking strategy. Jack has mentored thousands of entrepreneurs and been a part of growing multiple 7-figure businesses. He has accessed multiple six figures in credit lines. He’s funded multiple business startups with this money, and he’s shown thousands of other entrepreneurs how to do the same thing. You can trust that the Credit Stacking education and mentorship are in a class of their own, taught by industry experts.Check out Jack’s case study that shows the exact steps he used to get approved for a half-million dollars.Worst investment everWhen Jack was 26, he moved to Bali, Indonesia, and lived there for three months. During that period, he saw an opportunity to create an Airbnb arbitrage business with his brother. They hired locals to help them with the day-to-day management of the venture.The brothers financed the business venture with their cash and paid all payments, including paying the workers, using that cash. Unfortunately, these people didn’t deliver on what they were supposed to. The business was suffering from poor reviews and ratings on AirBnB, and the brothers were having issues with landlords who refused to rectify the problems with the houses, yet they had already paid rent in full.It turns out, running a business abroad from home is not a walk in the park. Jack regretted not doing more research before embarking on this venture.Lessons learnedDo a lot of market research before you venture into any business.Vet and hire high-quality talent to help manage the business.Finance your deals with 0% interest business credit. It’s safer because you can charge it back if the service providers don’t deliver. It also gives you more time because you’re not paying interest.Andrew’s takeawaysSetting up a business in a foreign land is hard, so don’t be overconfident and overlook the challenges.Anytime you can protect your purchase. Do it.Actionable adviceHave as much access to capital as you can because the more access you have, the stronger you will be in any business negotiation or business venture. You don’t even have to have money. You just need to have access to cash.No. 1 goal for the next 12...

BIO: Donald Cohen is the founder of doncohenconsulting.com. He is collaboratively empowering LinkedIn proficiency and performance.STORY: Donald opened a successful store in Detroit and sold it after four years. He and his girlfriend got married and moved to Denver, where he decided to open a similar store. He didn’t realize that the two markets were different, and he couldn’t replicate his Detroit success in Denver.LEARNING: Failure isn’t final. You don’t lose until you quit. Have a plan and write it down.&nbsp;“Little things done right compounded over time are huge.”Donald Cohen&nbsp;Guest profileDonald Cohen is the founder of doncohenconsulting.com. He is collaboratively empowering LinkedIn proficiency and performance. He is the founder/CEO of Tool King. He was a two-time internet retailer of the year, a two-time top 50 website of the year by an internet retailer, a three-time INC 500 CEO. He was also the top Amazon and Walmart Marketplace partner, generating $200,000,000 in sales, beginning with $4 on e-Bay.Worst investment everDonald opened up a little tool store in Detroit. He made $50 a week for the first year. By the second year, he had bought the building, the restaurant next door, and lived in an incredible high rise with a new car. After four years of being pretty successful, He sold the business and the building. Donald and his girlfriend of seven years decided to get married and move to Denver.In Denver, Donald decided to open a store similar to his in Detroit. On the day he opened the store, nobody showed up. This was the trend for two weeks. In the third week, a competitor opened a bigger store making things more complicated for Donald.Eventually, Donald decided to close down for a few weeks to regroup and develop a better strategy. After a while, he decided to go wholesale instead of retail, and he was able to make the business a success in a few weeks.Lessons learnedFailure isn’t final. You don’t lose until you quit.You need perseverance to deal with and move on from poor business decisions.Anybody can run a successful business. Be disciplined, pace yourself, and have fun while at it.Have an informal board of directors for your business.Actionable adviceHave a plan and write it down. Anything you put in writing becomes powerful. Also, always take action, don’t just sit around.No. 1 goal for the next 12 monthsDonald’s goal for the next 12 months is to continue accelerating the path he’s on.Parting words&nbsp;“Reach for the stars and reach out to me if I can help in any way.”Donald Cohen&nbsp;[spp-transcript]&nbsp;Connect with Donald CohenLinkedInTwitterFacebookWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock Market<a...

BIO: Collin Mitchell is a 4x Founder, Father of 4, and host of Sales Transformation.STORY: Collin’s first business was a huge success, bringing in annual revenues of $5 million in just 26 months. He decided to diversify the business and got into print services, something he had zero experience in. He hired a consultant to help him do the job and paid him tens of thousands of dollars. Unfortunately, he never saw any ROI; instead, he accrued so much debt he had to pull the plug on the new service.LEARNING: Know the industry first before delving into it. Understand your core competency before diversifying.&nbsp;“Just because you think your idea is the best idea ever doesn’t mean it is. Validate it first.”Collin Mitchell&nbsp;Guest profileCollin Mitchell is a 4x Founder, Father of 4, and host of Sales Transformation.Worst investment everThe first business that Collin and his wife built got to $5 million annual revenue in 26 months. This was fueled by sales and $0 spent on marketing. Now you’d imagine that they’d continue doing what they were doing since it was working. Nope! Collin was trying to develop all these ideas of diversifying the business and getting some recurring revenue.Since the business was selling IT products, it made a lot of sense to get into IT services. Collin found these different companies to partner with and be their sales engine. The business kind of fell on his face. He spent some money trying to figure it out and didn’t have a lot to show for it. Then Collin tried another service selling backup recovery and cloud backup. He had a little bit of success there.Collin later decided to venture into managing print services. You ship the consumables such as toner cartridges to the customers and have technicians that service the machines. Collin did a bit of research and found there was interest in this kind of service, but he didn’t have the experience to do it on his own. So he started looking around and found a consultant. He seemed like he knew this space and had some clients that were similar to Collin. Collin paid the consultant tens of thousands of dollars to get him to build this offering for these clients. He didn’t receive much value from the consultant. He went on a spending spree on marketing, purchasing fancy tools that the consultant recommended, redoing his website, and more to become an expert in something that he didn’t know a lot about.Eventually, Collin closed that program down after building up some debt and didn’t have much to show for it. The money didn’t hurt as much as the failure to deliver and all the time and energy that could have been spent doing something else.Lessons learnedThere are no shortcuts in business.Please don’t rush into a new industry quickly without educating yourself about it.Before you launch a product or service, first understand the needs of the clients, your capabilities, and the staff, knowledge, and experience that’s needed.Andrew’s takeawaysMany things appear more straightforward in business than they are, causing you to jump in without enough research.Know your core competency.Actionable adviceDo your research and market validation before you take action on your idea. Just because you think your idea is the best doesn’t mean it is.No. 1 goal for the next 12 monthsCollin’s goal for the next 12 months is to change the way people sell through relationship building. He’s on a mission to...

BIO: Catherine Morgan is a multi-award-winning qualified financial planner and award-winning financial coach on a mission to reduce financial anxiety and increase financial empowerment and resilience for 1 million women worldwide.STORY: Catherine and her husband bought a residential property at the markets’ peak. They sold that property for the same amount they purchased it seven years later.LEARNING: Separate your sense of self from your money. Just take the next step, no matter how small.&nbsp;“The more work we do on ourselves, the better financial decisions we will make.”Catherine Morgan&nbsp;Guest profileCatherine Morgan is a multi-award-winning qualified financial planner and award-winning financial coach on a mission to reduce financial anxiety and increase financial empowerment &amp; resilience for 1 million women around the world. She was featured as one of the top 32 female entrepreneurs to look out for in Business Insider. Top 1% global podcast host of the show In Her Financial Shoes.Worst investment everCatherine and her husband bought a residential property at the markets’ peak. Now bearing in mind, she was a financial advisor, and her husband was a mortgage advisor. Seven years later, they sold that property for the same amount they bought it.Catherine and her husband held on to so much self-judgment as financial professionals. They should have seen this coming. They should have known the markets were going to crash. Catherine held on to so much of that guilt for so long, which was the worst investment decision of her life. It was even worse than buying the property.Lessons learnedSeparate your sense of self from money because the two are not intrinsically linked.Action steps don’t necessarily have to be big, gigantic, massive action steps. It’s the compound effect of making small decisions that build that momentum.Andrew’s takeawaysJust take the next step, no matter how small.Actionable adviceGo inwards and reflect on your relationship with money. Think about where that came from, who does it belong to? How does it serve you? How does it sabotage you? Then, once you’ve taken that awareness and curiosity step, start practicing how to forgive yourself and others.No. 1 goal for the next 12 monthsFor the next 12 months, Catherine intends to go from serving a million to a billion women. She plans to do this by forging stronger relationships, collaborations, connecting with wonderful people like Andrew, and supporting one another.Parting words&nbsp;“Be curious about yourself and the possibilities that exist to turn those lessons into opportunities for the future.”Catherine Morgan&nbsp;[spp-transcript]&nbsp;Connect with Catherine MorganLinkedInFacebookTwitterPodcast<a...

BIO: John is on a mission to unlock growth in people, businesses, and communities to help them go from where they currently are to where they want to be.STORY: John believed in what people said about him. This caused him to lose his greatest strengths—energy, youthful exuberance, and creativity.LEARNING: Explore who you truly are and then build on that. Age should not stop you from dreaming big.&nbsp;“Whether we want to believe it or not, we are needed. No matter what you are, you’re someone’s idol, whether you know it or not.”John Osberg&nbsp;Guest profileJohn Osberg’s life mantra is “Serve to Soar.”John is on a mission to unlock growth in people, businesses, and communities to help them go from where they currently are to where they want to be.You will find his posts on LinkedIn about mental models, transformative growth insights, impactful content sources aimed at personal/professional development, and he showcases acts of egalitarian community building. Listen to him on his POWER of OZmosis podcast.Worst investment everJohn’s worst investment ever was investing in what others thought of him. He let these opinions take over his inner voice and form his identity. He believed people when they told him that he was too young to know enough.John let such things dim his energy, youthful exuberance, and creativity. Yet, these are some of his greatest strengths. It took him about nine years and a lot of soul searching to finally realize that other people’s voices should not have a place in his mind.Lessons learnedIf you’re good enough, you’re old enough. Age should not stop you from dreaming big.The time is here and now. If you take your shot and miss, well, at least you took the shot, and you’ll learn from making that mistake.Andrew’s takeawaysLearn how to form your own ideas and formulate opinions without opposing everybody.Explore who you truly are and then build on that.Actionable adviceIf you’re struggling to find your true identity, call your inner circle and ask them what they think of you as a person and a professional. Write those descriptive words down and then look at them later. Ask yourself which of these descriptive words align with you, and then start to ingrain that in your brain. With time, they become your norm.No. 1 goal for the next 12 monthsJohn’s number one goal for the next 12 months is to have a robust library of digital courses that are all about unlocking one’s growth on various levels.Parting words&nbsp;“Keep serving to keep soaring.”John Osberg&nbsp;[spp-transcript]&nbsp;Connect with John OsbergLinkedInTwitterPodcastWebsiteAndrew’s booksHow to Start Building Your Wealth...

BIO: Manuj Aggarwal is an engineer, inventor, author, and entrepreneur.STORY: Manuj was convinced by a dentist to get into forex trading, an area he had no idea how it worked. He traded $75,000 and lost it in under an hour.LEARNING: Learn how to control your risk. There are no short shots.&nbsp;“Before you go into the market, learn about volatility, probability, and money management.”Manuj Aggarwal&nbsp;Guest profileManuj Aggarwal is an engineer, inventor, author, and entrepreneur.He is currently working on a groundbreaking AI-based technology that builds meaningful relationships and establishes thought leaders at scale on auto-pilot. He uses behavioral science and AI to help companies solve complex problems, gain traction, and increase revenue.He is also the CIO/Founder of Tetranoodle Technologies, which is a boutique big data consulting company that provides strategic insights and develops problem-solving digital solutions for businesses of all sizes.His popular entrepreneurial podcast Bootstrapping Your Dreams got ranked as Top 100 next to Tony Robbins, Gary Vee, and Tim Ferriss.Worst investment everWhen the 2008 financial crisis hit, Manuj lost 50% of his investment portfolio. He had relied on a financial advisor to build the portfolio, which hadn’t brought any significant returns in the 10 years he’d held it. After the loss, Manuj decided to learn how to manage his money and invest independently.As Manuj learned about investing in the stock market, he met a dentist who told him that he also wanted to learn about it, but it was too dull. The dentist said he knew someone experienced in forex trading and would trade for them.Even though Manuj didn’t know much about forex trading, he was curious about the high returns. He put in a few dollars, and the first trade went well. He decided to trade again, and he put in $75,000. The transaction didn’t go well, and he lost all the money in under an hour.Lessons learnedLearn how to control your risk.There are no short shots.Andrew’s takeawaysNo financial advisor works for free. Know how yours is compensated for helping you.Always follow an investment framework.Actionable adviceIf you want to manage money and trade the markets, you must have a system. Your system needs to be personalized based on your preference.No. 1 goal for the next 12 monthsManuj’s number one goal for the next 12 months is to share the AI he’s developing with as many Fortune 500 companies as well as individual entrepreneurs or startup founders.Parting words&nbsp;“Learn about the market before you get into it. It can be rewarding, but it will be very merciless if you don’t do your research.”Manuj Aggarwal&nbsp;[spp-transcript]&nbsp;Connect with Manuj AggarwalLinkedInFacebookYouTube<a...

BIO: Anthony Iannarino is a writer, a speaker, an entrepreneur, and an author of three books.STORY: Anthony invested $1,200,000 in two brothers working on a revolutionary nanoparticles project. When they needed more money, he found the brothers a good investor, but they decided to go with another who required them to move from their hometown. Halfway through the project, the brothers decided they didn’t want to work on it anymore and moved back home, killing the project.LEARNING: When getting into a high-stakes investment, have a solid contract that makes you part of the decision-makers.&nbsp;“Whenever you go into an investment, you’re not betting on the horse; you’re betting on the jockey.”Anthony Iannarino&nbsp;Guest profileAnthony Iannarino is a writer, a speaker, an entrepreneur, and an author of three books on sales; The Only Sales Guide You’ll Ever Need, The Lost Art of Closing, and Eat Their Lunch. He writes and publishes every day at www.thesaleblog.com.Worst investment everAnthony happened to know about two brothers who were working on a revolutionary project around nanoparticles. What they were doing with nanoparticles was something that no one else had been able to do. No one seemed to believe in their project, but Anthony did. His company invested $1,200,000 in the project, and they started building the equipment they needed.They realized that they needed more extensive equipment along the journey, which meant more money. Anthony’s company didn’t have the cash injection required, but they agreed to help the brothers find investors.Anthony found them a $10 billion company that would give them everything they needed for the projects. They would even provide them with a bridge loan to ensure that everything would be okay during the entire process.Unbeknownst to Anthony, the brothers talked to another person in northern Ohio who wanted to own the whole project. He promised them $500,000 and a salary of $150,000 salary each. But, the brothers had to move to northern Ohio to be near all of the equipment. Anthony advised them against this deal, but the brothers took it.After a few months, the brothers decided that the salary was not enough for them and they didn’t want to live there anymore. It became impossible to see the project to the end without the brothers’ input. And just like that, Anthony lost his $1,200,000 investment. Someone leaked the IP to someone who created a different way to do the nanoparticles project.Lessons learnedWhen getting into a high-stakes investment, have a solid contract that makes you or your representative part of the decision-makers.Whenever you go into an investment, you’re not betting on the horse; you’re betting on the jockey. And so, if the jockey is unreliable, you’re betting on the wrong jockey.Be careful about the sunk cost fallacy.Andrew’s takeawaysWhen investing in businesses, particularly startups, keep in mind that a tremendous amount of resource management is involved, so every decision matters.When deciding on an investment, consider, at the very least, if you trust the owner, if their idea is viable, they’re able to execute the vision, and they have the capital.Actionable

BIO: Garrett Roche is Chief Investment Strategist at Uxbridge Capital Advisors, a private wealth advisory firm in New York City.STORY: Garrett got caught up in the Nokia stock when the technology bubble hit. He hung on to the stock for too long even though it was clear the stock was not about to go up. He lost 60% of his investment.LEARNING: Take a macro view when picking stocks. Have an average of 10 investments in your portfolio.&nbsp;“Don’t get caught up in the details of a single stock holding and focus so much on the fundamentals that you live in.”Garrett Roche&nbsp;Guest profileGarrett Roche is Chief Investment Strategist at Uxbridge Capital Advisors, a private wealth advisory firm in New York City.He assists HNW individuals, family offices, and endowments with investment portfolio strategy, economic and market trend-spotting, and portfolio and trading risk management.Previously he was a Global Investment Strategist at Bank of America Merrill Lynch, a senior research analyst, an economist at PricewaterhouseCoopers, a strategic financial analytics manager at JPMorgan Asset Management, and a credit portfolio analyst at Garnet Capital Advisors LLC.He holds a BA in finance and accounting from the National University of Ireland, as well as an MS in economics and an MA in public affairs from University College Dublin, Ireland. He is also a CFA charterholder, and an FRM certified financial risk manager.Worst investment everGarrett was attracted by the Nokia stock and got into it when it was selling at around $13 in the summer of 1999. He then bought more stocks at $21 in early 2000. He rode it up to $34. Then the tech bubble started to burst across the telecom landscape.Seven weeks later, the stock fell by 40%. Garrett decided to hang on and got caught up in a bull trap. The stock price would go up a little then go down again. It was a complete roller coaster.By September 2001, Garrett had lost about 60% of his original investment. This is the point where he decided to sell.Lessons learnedDon’t get caught up in the detail of a single stock holding where you’re focused so much on the fundamentals that you live in.Stand back and take a macro view that incorporates a broader picture of your investments.Andrew’s takeawaysStop losses can bring value.Portfolio construction is very critical. Have an average of 10 investments in your portfolio.Actionable adviceTake a step back when you’re entirely compelled about a narrative around a stock, especially if it’s in a new industry.No. 1 goal for the next 12 monthsGarrett’s number one goal for the next 12 months is to increase assets under management and clients service. He’s also developing machine learning techniques and algorithms around portfolio constructionParting words&nbsp;“Stay vigilant and always remember the macro overlay.”Garrett Roche&nbsp;[spp-transcript]&nbsp;Connect with Garrett RocheLinkedInWebsiteAndrew’s books<a href="https://amzn.to/3qrfHjX" rel="noopener noreferrer"...

BIO: Mike Lung is the Director of Brokerage at Allendale Inc, which is best known for specializing in the Agriculture sector since 1985, working with farmers, ranchers, merchandisers, and others to hedge their risk when it comes to buying and selling agricultural products/inputs.STORY: Mike got into the wheat market without a plan or any research. The market went down and saw him lose his investment.LEARNING: Always have a defined exit plan before you get into any trade. Use futures and options for effective risk management.&nbsp;“Have a plan of attack, do your research and really know what you’re getting yourself into before you get into a trade.”Mike Lung&nbsp;Guest profileMike Lung is the Director of Brokerage at Allendale Inc, which is best known for specializing in the Agriculture sector since 1985, working with farmers, ranchers, merchandisers, and others to hedge their risk when it comes to buying and selling agricultural products/inputs.During his time at Allendale, Mike has had to help navigate his clients through trade wars, COVID fear, drought concerns, packing house fires, and much more. These types of events drew him deeper into the commodity rabbit hole to figure out what exactly makes the markets tick. He is currently working towards a Chartered Market Technician designation and will be diving into getting his CFA afterward.Mike has been quoted in articles by Reuters, Agri-Pulse, Iowa Agribusiness Radio Network, Bloomberg, and more.Worst investment everMike jumped into the wheat market with the hope of making good returns. At the time, there were rumors that Russia would be cutting its export program and increasing tariffs. This meant that that business was all going to come flocking to the US. So he got into it.Then the price started going down, but Mike was still confident with the market and kept putting in more. Prices just kept going down. While Mike didn’t take a big hit, the downward market spiral took a lot of his confidence, and he eventually decided it was time to cut off the trade.Lessons learnedWhen going into something, especially if it’s on a speculative basis, make sure that you have a defined exit.Learn how to use futures and options for effective risk management.Andrew’s takeawaysIf your exit plan is a stop loss that’s automatically executed, accept that stock will always bounce back. The main thing is you’re just trying to prevent catastrophic loss.Actionable adviceWrite down your plan of attack or trading strategy on paper before you enter anything.No. 1 goal for the next 12 monthsMike’s number one goal for the next 12 months is to pass the two Chartered Market Technician tests.Parting words&nbsp;“Don’t put any more in trades.”Mike Lung&nbsp;[spp-transcript]&nbsp;Connect with Mike LungLinkedInFacebookTwitterWebsiteAndrew’s...

BIO: Thanawit Ounsakul is a Petroleum Engineer with enthusiasm for business and the people behind it. He is a long-term investor who has been riding the financial wave since 2006 and blogs about his investment views.STORY: Thanawit came across a stock whose valuation seemed ok, and analysts said it would go up drastically. He bought it without further research only to make a 50% loss a year later. There was no hope of the stock rising because demand for the company’s commodity had shifted.LEARNING: Don’t depend on quantitative analysis only; use qualitative analysis too to value a company. Buy cyclical stocks when PE is expensive and sell when they’re cheap.&nbsp;“Find your investment style and try to turn it from good to great.”Thanawit Ounsakul&nbsp;Guest profileThanawit Ounsakul is a Petroleum Engineer with enthusiasm for business and the people behind it. He is a long-term investor who has been riding the financial wave since 2006 and blogs about his investment views.Worst investment everIn October 2011, Thanawit came across a commodity stock that went down to $40 from its all-time high of about $60. The valuation looked very cheap, with the price to earnings at less than 10x and debt to equity of less than one. Analysts were saying it would go to $80. Thanawit did some math and figured it would be an outstanding stock to buy. So he bought it at $30, then the price moved up to $45, and he just kept on buying on the way up.A few months later, in March 2012, the price started going down, and it got back to $30, the price he first had bought it at. Thanawit was confident and bought more positions expecting the stock to rebound. But the price kept going down.Thanawit decided to research what was going on with the company—which he should have done before buying the stock. He learned that the demand for that commodity had shifted. Basically, the sales kept dropping quarter after quarter. Because of loss aversion, Thanawit didn’t want to sell until November 2012, when he got extremely stressed about it. He spoke to one of his lecturers from university who pointed out that Thanawit’s investment was a sunk cost and advised him to look forward, not backward. So he sold his stock making about 50% loss.Lessons learnedBe aware of the value trap that makes you value a company depending on quantitative analysis only without including qualitative analysis as well.Don’t evaluate a company based on past earnings only; use future evaluation as well.Let go of the looser stock as soon as you can.Andrew’s takeawaysBe careful because investing is a physical activity, and many people go into it not realizing that, and then they lose control of their emotions.Just because someone’s an analyst doesn’t mean that they’re necessarily a great stock picker.Buy cyclical stocks when PE is expensive because that means they’re at the bottom of their earnings cycle, and then sell when they’re cheap.Actionable adviceTo adopt any principle or repeat a policy throughout your life, you must feel good about it. Find your style and try to turn it from good to great.No. 1 goal for the next 12 monthsThanawit’s number one goal for the next 12 months is to publish a well-written investment article as often as he can so that his followers can be at least one inch closer to the investment world.Parting words&nbsp;“Just enjoy investment.”Thanawit...

BIO: Sakthivel Thevar is a highly sought-after international speaker and Maximum Performance coach within the business and corporate circles.STORY: Sakthivel was looking for a mentor when he first joined the corporate world. Without much thought into it, he went with the first guy who offered to mentor him. He didn’t gain much from the mentor even after working with him for months. The mentor was just not the right fit.LEARNING: Be clear about the kind of people you want to invest in. Take your time, don’t rush when finding a mentor.&nbsp;“Just as you don’t blindly invest in a house, look at the options available for you when picking a mentor.”Sakthivel Thevar&nbsp;Guest profileSakthivel Thevar is a highly sought-after international speaker and Maximum Performance coach within the business and corporate circles, starting his career in the most challenging way possible as a military officer and Airborne Ranger in the Singapore Armed Forces.Worst investment everWhen Sakthivel left the military, he decided to join the financial industry as an advisor. His goal was to make a difference to people. Because he didn’t know much about being an entrepreneur, Sakthivel decided to invest in a mentor. He went out and talked to several people. Then this guy came up to him and told him that he could be his mentor. Sakthivel didn’t think twice. He decided to work with him.Eight months later, Sakthivel’s business was tanking, and he could barely pay his bills. When he couldn’t afford to buy his daughter a book she wanted, he realized that he had made a wrong investment. He had invested his time and business with the wrong person because he didn’t do his due diligence to check other options. He chose a mentor blindly without first figuring out what to look for in a mentor. He just decided this guy was the one and just went for it.Lessons learnedWhen choosing a mentor, find out whether they’re in line with what you believe in.Be clear of who you want to invest your time in and if they’ll be able to bring you to where you want to be.Take your time, don’t rush when finding a mentor. Don’t be afraid to ask questions.Learn to say no to people who are not the right match for you.Andrew’s takeawaysTake the time to do the research, and the benefits will come.Time is the only real resource that we have. It allows us to do the things that we want to do. Use it well.Get the right boss. So many people get stuck in situations where they’re with the wrong people, and they stay out of convenience.Don’t walk away from what works.Actionable adviceBe clear about what you’re looking for when you’re thinking of investing your time in learning something, especially from someone. Be clear of the outcome or the things that you require from this person. Then ask yourself whether this person can bring you in that direction.No. 1 goal for the next 12 monthsSakthivel’s number one goal for the next 12 months is to get his new book out. He also gives talks, so his biggest goal is to reach out to as many people as possible.Parting words&nbsp;“Wake up every morning and ask yourself; ‘If I’m good at something, how can I go about doing it better?’”Sakthivel Thevar&nbsp;[spp-transcript]&nbsp;Connect with Sakthivel Thevar<a href="https://www.linkedin.com/in/sakthivel-thevar/" rel="noopener...

BIO: JB The Wizard received his name from his clients when seemingly hard-to-explain breakthroughs were happening in business when he was simply focusing on the individual.STORY: JB was already a master of self-development and alignment, but he needed another skill to make more money. So for over 14 years, he learned all about online marketing. This was a poor time investment because now his clients pay him for his self-development and alignment skills, not online marketing skills.LEARNING: Be ready to say no to many things if you want to stay in alignment. Focus exclusively on your customer and their needs.&nbsp;“Alignment means tapping into your purpose for why you are here in the first place.”JB The Wizard&nbsp;Guest profileJB The Wizard received his name from his clients when seemingly hard-to-explain breakthroughs were happening in business when he was simply focusing on the individual. He has a degree in Pre-Medical Exercise Physiology, acted in Hollywood films, Television, and Theater, is an award-winning director, and now advises CEOs, Celebrities, and Top Salespeople on exactly what to focus on to ensure that every other personal and business dream, comes true.Worst investment everJB started his journey to self-development when he was a kid, and by the time he was an adult, he was an alignment expert. But still, there was always this desire to get more clients and make more money.He spent over 14 years studying everything he could about marketing. From online marketing to squeeze pages to landing pages and everything in between. JB believed these skills would make him more money than working with clients to help them find alignment.But with time, JB realized that what his clients were paying him more for was not his Facebook marketing skills or his squeeze pages, not any of that. It was happiness, mental freedom, the awareness that he has, and the alignment that he helped them find. So his worst investment ever was spending so much time trying to learn something else while he already had the skill clients were willing to pay for.Lessons learnedAlignment means tapping into your purpose for why you’re here in the first place.Be ready to say no to many things if you want to stay in alignment and keep things moving forward.When something is in your alignment, it doesn’t take discipline to do it; it’s just a behavior that comes naturally.Andrew’s takeawaysBy focusing exclusively on your customer, you discover their needs and wants, and then you can serve those.Part of alignment when it comes to attracting customers is making sure that you understand your clients’ needs and provide the services and support for those needs. Once you do that, there isn’t any better marketing than that.Actionable adviceYou already have the answer. You know who you are, and that’s what you want to take action towards.No. 1 goal for the next 12 monthsJB’s number one goal for the next 12 months is to increase the number of clients he works with from three to eight people per month.Parting words&nbsp;“You already have the answers.”JB The Wizard&nbsp;[spp-transcript]&nbsp;Connect with JB The WizardLinkedIn<a href="https://twitter.com/thewizardisreal" rel="noopener noreferrer"...

BIO: Joseph Frankie (Joe) is a West Point graduate who had a full multifunctional military career as a warfighter and logistician.STORY: Joe got into a deal in China that was quite lucrative. However, the financial crisis of 2008 hit and saw him lose everything he’d invested in the deal.LEARNING: Walk away from a cul-de-sac and get onto something else fast. Failure is not always your fault but how you react to it is your full responsibility.&nbsp;“Learn when to walk away and do it fast. The sooner you get on to something else, the better you’ll be.”Joseph Frankie&nbsp;Guest profileJoseph Frankie (Joe) is a West Point graduate who had a full multifunctional military career as a warfighter and logistician. Today, he helps leaders build a bridge from where they are now, to where they want to go. Most often, he helps 40+-year-olds figure out what is next. He assists leaders internationally, online.Worst investment everJoe’s worst investment ever was working on a deal in China. At the time, the Chinese government was trying to get their wastewater treatment infrastructure together. Chinese companies had to bid on this project, and those that made it to the final three had to put up a letter of credit for 33.3 percent. This meant that if any of the three got picked, they executed that letter of credit and were all in.The Chinese companies’ challenge was that they didn’t have the working capital necessary to run multiple projects. Even though they had the bandwidth and the capability, they ended up having to finish one project, get the return, and then get into another one. Whereas they really could be doing as many as five to 10 projects. This is where Joe came in. Through a cooperative joint venture with two companies, Joe provided the Chinese companies the capital necessary to do multiple ventures.Then the Lehman Brothers debacle following the financial crisis of 2008 happened. All of the rules on moving money internationally changed overnight. Funds were frozen, decisions took forever to be made, and Joe found himself in a cul-de-sac. He had no option but to walk away and count his losses.Lessons learnedWhen you realize it’s a cul-de-sac, just back out of it fast and get on to something else that’s productive, rather than spend any more time on it.Andrew’s takeawaysRandomness will always come, and you don’t have any control over that.There are factors in your life that just happen, and it’s not your fault. But the way you react to it is your responsibility.Sometimes you just have to walk away from something that’s not working because putting in more effort isn’t going to make any difference.Actionable adviceYou have to be attuned to the environment. You’re going to deal with volatility, uncertainty, and all of that kind of stuff. The sooner you recognize that you’re in that situation and make your quick assessments and determine what you want to do, the better off you’ll be.No. 1 goal for the next 12 monthsJoe’s number one goal for the next 12 months is to continue promoting his book LinkedIn: The 5-Minute Drill for Executive Networking Success.Parting words&nbsp;“Your LinkedIn profile is your billboard to the world. Don’t sell yourself short.”Joseph...

BIO: Fred Diamond is the co-founder of the Institute for Excellence in Sales, a member organization for sales leaders and their teams.STORY: Fred had a friend in college who reached out to him three times requesting him to work for him over the years. Fred turned him down every single time. That friend ended up building a company that he sold three times over for five billion dollars.LEARNING: Be open to the opportunities that come your way. Work with people you like and trust and who trust you too.&nbsp;“If you want to start working for yourself, start now.”Fred Diamond&nbsp;Guest profileFred Diamond is the co-founder of the Institute for Excellence in Sales, a member organization for sales leaders and their teams. Members include Amazon, Salesforce, Red Hat Software, and Intel. He is also the host and producer of the award-winning Sales Game Changers Podcast and webcasts. Fred is based in Washington, D.C.Worst investment everTwo years after Fred graduated, he got a call from his college friend, Mark. He told him that he was starting a company and was inviting people to go to New York and talk about what kind of company they should start. Even though Fred was impressed with Mark in college, he didn’t consider him a serious entrepreneur, so he didn’t go for the meeting.About seven years later, Mark called Fred. At the time, Fred was working at Compaq computer while Mark sold direct marketing services. He asked Fred if he could get a meeting at Compaq to pitch his services. Fred got him a meeting with the guy in charge of direct marketing, and he did a great presentation. Afterward, Mark asked Fred to work for him and help him take his company to the next level. Fred still didn’t quite see his friend as a serious entrepreneur, so he said he wanted to stay at Compaq.Over the next couple of years, Fred moved to several companies, and eventually, he decided he wanted to work with pre-IPO startups. He happened to be in New Jersey on his way to Germany for some customer meetings and decided to have lunch with Mark. He told him of his desire to work with pre-IPO startups. Again, Mark asked Fred to work for him in D.C. He’d pay him $150,000 a year and give him 10,000 shares. Again, Fred turned Mark down because he didn’t think his company was what he thought a pre-IPO company looked like.Fred went on to work with two pre-IPO companies that folded in just a year. Eventually, he started his own company that has gone to be the success it is today. While Fred is successful today, he regrets missing the opportunity to work with Mark, who built a company that he sold three times over for five billion dollars.Lessons learnedLearn about people in your circles who seem to be successful.Find people you can trust and who trust you.You’ve got to see what the opportunities might be and then step in to take them.Work with people that you like.Andrew’s takeawaysWhen we’re in a situation, we see things differently than how we see them coming out of that situation.Now and then, things are going to seem glaringly obvious. But most of the time, it’s not going to be that clear and obvious.Be open to opportunities and grab those that are right in front of you.Actionable adviceIf you want to work for yourself, start sooner. If you’re committed, cut the bait, meet some brilliant people, be smart, hire...

BIO: Jeff Bullas is the owner of jeffbullas.com. Forbes calls him a top influencer of Chief Marketing Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on Twitter.STORY: Jeff bought a mattress and bedding furniture store, an area he had no experience or passion in. He did no research or did any due diligence, and within no time, he was deep in debt and had to close the store. He lost everything, including his marriage and the family home.LEARNING: Don’t start a business unless you have expertise and passion in that industry. Running a business is not all about the money.&nbsp;“Just start. Create and share your craft, and then the world will show up.”Jeff Bullas&nbsp;Guest profileJeff Bullas is the owner of jeffbullas.com. Forbes calls him a top influencer of Chief Marketing&nbsp;Officers and the world’s top social marketing talent. Entrepreneur lists him among 50 online marketing influencers to watch. Inc.com has him on the list of 20 digital marketing experts to follow on Twitter.Worst investment everJeff once bought a mattress and bedding furniture store on a whim. He had zero experience in running a retail business. He did zero research and due diligence. He was just thinking of the money he would make from the business.Within a day or two of buying the store, Jeff realized he’d made the wrong decision. Instead of making money, the business was chewing up cash for months on end. Jeff’s bank balance was getting lower and lower. He decided to pivot to another location to get a long-term lease.Jeff hated running this business. He was in the store seven days a week. He felt trapped. Eventually, he got to a point where he realized that he needed to pull the pin. Jeff closed the doors one day and walked away.This failure caused Jeff’s marriage to break. He was too deep in debt that the bank took possession of the family home, and he was left with nothing.Lessons learnedWhen starting a business, don’t do it just for the money. Start a business that you’re uniquely qualified to run. Ask yourself if you have the curiosity, passion, and expertise to do it. If not, don’t do it.Just start. Create and share your craft, and then the world will show up.Entrepreneurship is not just about chasing the money; it’s also about tapping into why you’re here and why you’re doing it.Andrew’s takeawaysMost people fail to do their research when starting a business. They see an opportunity, get seduced by it, and end up putting aside their normal rationality because they’re excited about it.Money is an outcome of your passion.Failure can shake not only your confidence but the confidence of the people around you. But, don’t forget that failure is inevitable and when it happens, just walk away.Actionable adviceDon’t force it. We live in a perfect world, but it doesn’t always unfold in the way we want. When you try to force it, generally, bad things happen.No. 1 goal for the next 12 monthsJeff’s number one goal for the next 12 months is to launch a new product and have some fun doing it.Parting words&nbsp;“Just start and learn. Don’t try to be a perfectionist.”<blockquote

BIO: Brennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions.STORY: Brennan got offered a full-time junior software development job at Shopify after completing his internship, but he turned it down so that he could go back to complete his degree. The job came with stock options that would be worth an eight-figure today. He never got to use his degree.LEARNING: Seek help from the right people when making decisions. Ask yourself if your decision is permanent or nonpermanent.&nbsp;“When you’re making a decision, ask yourself if it can easily be undone or it’s permanent.”Brennan Spellacy&nbsp;Guest profileBrennan Spellacy is one of the co-founders and CEO of Patch, the platform for negative emissions. Prior to starting Patch, Brennan worked in a range of product and engineering roles at Sonder and Shopify.Worst investment everBrennan got offered a full-time junior software development job at Shopify after completing his internship. He still had two years of university remaining, so he turned the job down to go back to school.What Brennan regrets most is missing out on the stock options that came with the job. These options would be worth an eight-figure today. And the sad part is that Brennan never really used his degree.Lessons learnedUnderstand asymmetric risk and asymmetric upside so that you can make an objective decision.Understanding your value system will help you make sure you’re optimizing for that when making a decision.Weigh both permanent and nonpermanent decisions.Andrew’s takeawaysDon’t beat yourself up too much because you’re not a multimillionaire. When it comes to recognizing opportunities, sometimes you only get more clarity as you grow older.Money is just one aspect of decision-making.Make sure your decision-making process is good. Take your time and talk to the right people.Actionable adviceif you’re at some crossroads, get robust data on both sides before you make your decision.No. 1 goal for the next 12 monthsBrennan’s number one goal for the next 12 months is to grow Patch to about 35 or 40 employees.Parting words&nbsp;“Sometimes, you got to just shoot your shot and leave it all out there.”Brennan Spellacy&nbsp;[spp-transcript]&nbsp;Connect with Brennan SpellacyLinkedInTwitterBlogAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online...

BIO: Emmanuel Michael, a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries.STORY: Emmanuel started a locks business that saw him lose over $30,000. His biggest problem was not testing the market before buying the locks.LEARNING: Test your market first before you launch your product. Always think about how you’re going to get customers.&nbsp;“Find your customers first before you even have your product.”Emmanuel Michael&nbsp;Guest profileEmmanuel Michael (EM), a leadership and career success coach, is a seasoned and highly sought-after strategic business leader with over 20 years of management experience spanning various industries such as multidisciplinary engineering, information technology, hospitality, and financial services, of which over 17 years have been in human resources management practice.Between March and August 2017, he held forth as the Interim CEO &amp; Head of HR at Letshego MFB, a national microfinance bank in Nigeria. He is currently the Head of Human Capital at Letshego Nigeria.Emmanuel is also the Founder &amp; Host of HR with EM–a platform to Connect, Learn, and Share on everything leadership, career development, and employee experience. He is fondly called “The HR Celebrity” by the Nigerian HR community.Worst investment everEmmanuel always wanted to be an entrepreneur. After he had saved enough money, he decided to start a locks business. He immediately ordered some locks and started looking for office space. Once he got a space, he started looking for a market.To market his locks, Emmanuel decided to visit car companies to see if they would buy them and install them in their cars, such that when customers come to buy the vehicles, they would sell the locks as part of the accessories. This didn’t work out too well for him. Next, he decided to hire salespeople. They didn’t bring him much business either.Emmanuel was not able to generate enough revenue even to pay back the first year’s ends rent. He continued until the end of the second year. Teams were getting worse instead of getting better. At this point, Emmanuel had spent about $30,000 on the business and was yet to make any profits. When his rent expired after the second year and the landlord came to ask him to either renew the rent or move out, Emmanuel knew it was time to close shop and count his losses.Lessons learnedBefore you start selling, first research the market to ensure that customers want to buy your product.Talk to the right people as you research your market.Find your customers first before you even have your product.Failures can propel you to your next successful business venture.Andrew’s takeawaysWhen you’re doing marketing, you must test the market. You must also think about your marketing channel. Figure out how you’re going to get to the customer, and once you get to the customer, think about how you’ll convince that customer that this is right for them.Actionable adviceBefore you start any business, do a market test. Get a small group and offer them your service or product and see how they receive it. Tweak it and test it until it’s ready for launch.No. 1 goal for the next 12 monthsEmmanuel’s number one goal for the next 12 months is to have at least coached over 1,000 leaders, career trainers, or job seekers.Parting...

BIO: Marvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant in the Philippines.STORY: Marvin was enticed to buy his first stock by his colleague who was having good luck with his. Marvin’s luck, however, wasn’t as good. The stock price went down significantly as soon as he invested causing him to lose all his money.LEARNING: Focus on your own way of investing; don’t depend on other people’s gains. Wealth is built over time, not overnight.&nbsp;“Don’t focus on making money in the next eight minutes. Focus on the next eight years.”Marvin Germo&nbsp;Guest profileMarvin Germo is a stock market trader, entrepreneur, best-selling book author, international keynote speaker, brand influencer, and personal financial consultant who is among the most passionate personal finance experts in the Philippines.Worst investment everWhen Marvin was starting in the stock market, a colleague told him about a stock he was confident would do well. He, however, took his time and didn’t invest immediately. At the time, the stock was selling at 12 pesos and went to 15 in a couple of days, and then it went to 24. Marvin’s colleague doubled his money. He even borrowed from friends to invest more. Then the stock went to 32 pesos and then fell to 25.Marvin was impressed by his colleague’s conviction because he never stopped investing even when the stock price started to fall. Now he was interested in buying the stock too. His colleague convinced him that it was an excellent time to buy, and he remained optimistic that it would go to 50 pesos. Marvin bought the stock. Then two months later, the stock crashed to 17 pesos. He panicked, but his colleague told him to buy more so that he would break even when the stock goes back up. So he bought more stocks. The price never went up. Marvin sold half his stock at 16 pesos and the other half at 13 pesos.Lessons learnedYou build wealth over time.Don’t wait until you have a lot of money to start investing. Start with whatever you have right now.Take as much risk as possible while you’re young.When you’re investing, focus on your own race, you don’t have to compare your gains with other people’s. You have different starting points, different capital, different risk tolerances, and different timelines.Before buying anything, understand what it is, how much you should put in, and how to exit properly.Andrew’s takeawaysMost people struggle to be an entrepreneur because of the many things they have to deal with.Create, grow and protect your wealth.Most of the time, people are winning in the stock market through luck, not through skill, and therefore, when luck turns, they get hurt.Your business doesn’t always need debt to be valuable.Find something that you know that you can excel in and try to double down on that.Actionable adviceStart investing now and take your time to build wealth. It’s not a sprint; it’s a marathon.No. 1 goal for the next 12 monthsMarvin’s number one goal for the next 12 months is to understand the cryptocurrency space deeply.Parting words&nbsp;“Keep on investing and pushing forward.”Marvin Germo&nbsp;[spp-transcript]&nbsp;Connect with Marvin Germo<a...

BIO: Jimmy Lee is a Venture Builder and Humanitarian.STORY: Jimmy and his partner got into a partnership with two other businesses for a huge project that would bring them big returns. One of the businesses wanted Jimmy to collude with them and kick the third company out of the project. He refused and got cut out of the project, losing everything he had invested in it.LEARNING: Get your downpayment at the start of the project. When you receive help, pay it forward.&nbsp;“If you have a firm belief in yourself, and you know what you want to do, you should go for it. Things will come into place eventually.”Jimmy Lee&nbsp;Guest profileJimmy Lee is a Venture Builder and Humanitarian. Believe in yourself, and you can make the impossible possible!Worst investment everJimmy was introduced to entrepreneurship by chance by a friend. He went into it without experience, capital, or contacts—just a law degree and an idea. His first startup was a creative agency doing motion videos. Within four years, he grew the business into a multi-million business.The year 2007 was a very great year for Jimmy and his business partner because they got two huge projects. They were engaged as a contractor for the celebration of the 50th anniversary of Malaysia. Their job was to project the first prime minister in a hologram.The following year, everything fell apart. Jimmy’s company got into a partnership with two other companies. Jimmy got called for a secret meeting with one of the companies and was told not to inform the other company. He went for the meeting with his partner out of curiosity. The value of the project was about 4.5 million Malaysian ringgit. The other company wanted to sideline the third company and divide the profit between their company and Jimmy’s.Jimmy and his partner said no to that idea because it was unethical. A week later, Jimmy’s company got terminated from the project. All the payments he was supposed to receive had been pending due diligence, and now he couldn’t get paid. He lost everything overnight. They had focused on that one huge project for the past few months, and many resources went to it.Lessons learnedDon’t give up even when you face failure and other hurdles.Get your downpayment money at the onset of the project.Andrew’s takeawaysPeople do help people sometimes out of the blue.Once somebody has helped you out of the blue, you have an obligation to pay that forward.Actionable adviceContinue exploring opportunities and learn from your failures and be better. From that, you can do something even bigger.No. 1 goal for the next 12 monthsJimmy’s number one goal for the next 12 months is to set up a venture fund in Singapore. The venture will fund projects focused entirely on food, technology, and social enterprise.Parting words&nbsp;“Do things that are out of the box. Don’t be afraid because sometimes it’s just internal fear. So be bold and mighty force will come to your aid.”Jimmy Lee&nbsp;[spp-transcript]&nbsp;Connect with Jimmy LeeLinkedInTwitter<a href="https://foodiebox.group/" rel="noopener noreferrer"...

BIO: Judy Weber is a women’s business strategist and scaling expert, helping six-figure female CEOs take their business to the next level with strategy, systems, and simplicity.STORY: Judy always played small and allowed fear to hold her back from being who she truly wanted to be.LEARNING: Don’t let fear stop you from pursuing your dreams.&nbsp;“Courage is not the absence of fear; it is taking a step forward even in the midst of your fear.”Judy Weber&nbsp;Guest profileJudy Weber is a women’s business strategist and scaling expert, helping six-figure female CEOs take their business to the next level with strategy, systems, and simplicity. Her global client base is outstanding professionals, experts, coaches, consultants, and creatives.A former trial lawyer and c-suite executive turned serial entrepreneur, Judy overcame a lot to get where she is today. A small-town girl from humble means, she did what others thought was impossible as she pursued her dreams without apology. Featured on Fox, ABC, NBC, and CBS, women seek Judy out to learn how to think like a CEO and scale to seven figures!Worst investment everJudy’s worst investment was playing small. She lacked faith and didn’t believe in herself. Even though she was super driven and always wanted to be a lawyer, her lack of self-belief saw her study to be a music teacher instead of a lawyer. It took Judy five years after graduating from college to actually start law school because she was thinking small and didn’t believe she could be a lawyer.Lessons learnedDon’t let fear stop you from pursuing your dreams. Take action in spite of the fear.You’re perfectly imperfect, and you’re enough right now.It doesn’t matter your age, go for it and see what you can accomplish.Andrew’s takeawaysThe possibility of what you can do is beyond your imagination. If you do the next best thing for yourself each day, you’ll be amazed by what you can accomplish.Actionable adviceOpen up your mind to possibilities, and just take “no” out of the equation. If there’s something that you have always had a burning desire to do or to pursue, don’t let anything stop you.No. 1 goal for the next 12 monthsJudy’s number one goal for the next 12 months is to get her two books written and published.Parting words&nbsp;“Pursue the impossible.”Judy Weber&nbsp;[spp-transcript]&nbsp;Connect with Judy WeberLinkedInInstagramFacebookYouTubePodcastFREE Joyful Scaling Strategy ConsultationAndrew’s books<a href="https://amzn.to/3qrfHjX" rel="noopener noreferrer"...

BIO: Ted Clouser started in technology at the age of 16 when he formed his own computer business. In 1996, he joined PC Assistance of Little Rock, and he and his wife purchased the company in 2018.STORY: When Ted bought his company, he continued managing it instead of being a leader, leading to a couple of challenges, including a huge debt.LEARNING: Seek counsel when entering a new venture. To succeed, you must put your doubts and fears aside.&nbsp;“Go win today. Make it successful. Don’t worry about tomorrow. You’re going to get out of this one day at a time.”Ted Clouser&nbsp;Guest profileTed Clouser started in technology at the age of 16 when he formed his own computer business. In 1996, he joined PC Assistance of Little Rock, and he and his wife purchased the business in 2018. Within a year, Ted rebranded to PCA Technology Solutions and has expanded to a total of three locations.Passionate about both people and technology, his firm focuses on Cybersecurity, IT Consulting, and Professional Services, Managed IT services, and Voice-Over-IP (VoIP).Married in 1998 to Stephanie, Ted has a daughter at the University of Alabama and a son at Scotland Prep in Pennslyvania.Worst investment everIronically, Ted’s worst investment ever is the company that he’s the CEO of today. He joined PC assistance in 1996 and was fortunate enough to spend his entire career at that organization. Somewhere around 2018, the founder and CEO decided that he was ready for an exit strategy. So they began the conversation. Ted was the executive vice president at the time, had over 20 employees, things were very successful, and he figured it would be a slam dunk to buy the company. This seemed like a perfect transition. It made complete sense.Ted’s advisors warned him that there would be challenges during the transition and changes as he went from VP to President and CEO, and he needed to prepare for them. He was, however, adamant that nothing would change because he’d acted like a president and CEO anyway. He believed it was going to be a smooth transition.So fast forward to January 1, 2018, when Ted took over ownership, it was great. He was on a high, and things were really beginning to fall together. He felt like it was a dream come true, and it was for about six months. Then the nightmare began.For about 20 months after Ted took over, an identity crisis started to unfold. He was in a state of depression, and the process completely changed who he was as a person. He came to realize that he had built a company, over 20 years, that was entirely dependent on him. It did not have any foundation and no processes. He also learned that he had an unhealthy identity with the organization. Ted had always seen himself as PC Assistance, and when he moved into a president and CEO role, he tried to be the vision caster instead of the guy that did it. He was simply managing and not leading his company, and this brought so many challenges, including debts.Lessons learnedSeek the counsel that you need to really think through and plan a new venture.Andrew’s takeawaysWhenever we make a big move in our lives, there are doubts and fears. These can motivate us at times, but ultimately, we have to put doubts and fears aside to be successful.Master the art of listening. Get a piece of paper and a pen and when other people speak, shut up and write down what they’re saying. Challenge yourself only to ask questions and write answers...

BIO: David Walter is an author, speaker, and sales trainer. His claim to fame came from a cold-calling hot streak, during which he set 15 appointments a day for six months straight.STORY: David paid $10,000 and signed the rights to his manuscript to a famous publisher he believed would turn his book into a bestseller. The publisher was a fraud who never delivered any of the things he promised David.LEARNING: Think about your marketing before you even start writing your book. Look for the right person to edit your book.&nbsp;“It’s one thing to be an author, but you also got to know how to market your book.”David Walter&nbsp;Guest profileDavid Walter is an author, speaker, and sales trainer. His claim to fame came from a cold-calling hot streak, during which he set 15 appointments a day for six months straight. He later ran a prospecting call center, helping companies make millions. He is a contributing writer to Entrepreneur magazine. His book, Million Dollar Rebuttal, is a #1 bestseller on Amazon.Worst investment everDavid put all his faith and hope in a publisher that he believed would market his book. He invested $10,000 into the company, thinking he was on his way to fame and fortune being an author. He even signed off the rights of his manuscripts to the company.A few months in, and everything started going wrong. The company wasn’t editing the book, and the book cover they gave him was terrible.Then the company was indicted for fraud and ended up in court holding up David’s manuscript in the process. The company never delivered any of the things they promised David.Lessons learnedFirst, check the Better Business Bureau rating of anybody that you want to work with before you do.Don’t look for a panacea to do it at all. Instead, specialize. If you want a book cover design, go with somebody who specializes in book covers and when it comes to editing, find a good editor for the book.Andrew’s takeawaysWhen you’re vulnerable and trying to do something for your business, it’s so easy to turn over everything to someone else who might not understand your goal.When you’re feeling vulnerable and desperate, slow down and take it all step by step.Actionable adviceThink about your marketing before you even ever write your book. How are you going to get that book out to the world?No. 1 goal for the next 12 monthsDavid’s number one goal for the next 12 months is to get into podcasting.Parting words&nbsp;“You can do it if you believe in yourself.”David Walter&nbsp;[spp-transcript]&nbsp;Connect with David WalterLinkedInTwitterBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock Market<a href="https://amzn.to/2PDApAo" rel="noopener noreferrer"...

BIO: Amit Somani is managing partner at Prime Venture Partners (PVP), a Bangalore-based, early-stage fund. For 20 years before this, he held leadership roles at Makemytrip (NASDAQ: MMYT), Google, IBM Silicon Valley Labs, and IBM Research.STORY: Amit’s company came across this company that had a great product but didn’t have a business model. Amit’s company decided to back it anyway. It didn’t go well. A few years later, they came across another company with a great product and a great team but, again, no business model. Having lost the first time, they decided not to back the second company. It went on to become a unicorn in three years.LEARNING: The same kind of analysis or rigor will not apply every time you’re investing. Don’t just extrapolate from a past pattern. Have repeatability in your investing process.&nbsp;“You can’t borrow conviction; you have to get your own conviction because it’s subjective.”Amit Somani&nbsp;Guest profileAmit Somani is managing partner at Prime Venture Partners (PVP), a Bangalore-based, early-stage fund. For 20 years prior to this, he held leadership roles at Makemytrip (NASDAQ: MMYT), Google, IBM Silicon Valley Labs, and IBM Research. Amit was part of the leadership team that took Makemytrip public on NASDAQ in 2010. He was also the head of various teams focusing on search, mobile, and advertisement products at Google. One of his products, the search-based keyword tool, even won the Google Founder’s Award. Prior to his role at Google, he was the Director for the Enterprise Search and Discovery business at IBM San Jose, California.Worst investment everAmit’s company was looking at a great company around 2015/16. It had a phenomenal product in the women’s health space. They did their usual due diligence, spoke to the entrepreneur, and decided to back the company. However, one thing was missing, which was the lack of a viable business model. They decided it didn’t matter as long as the company was building something that people love.Unfortunately, this was a big mistake. They should have thought a little bit harder about how the business model would come out or the ability of that team to manifest the business model. Things didn’t work out well for the company.Fast forward a few years later. Amit’s company met another fantastic company in the FinTech space. Again, there was no business model, but the product looked great, they had an incredible team, and the market was big in terms of the people they could serve. But still, no business model. Amit’s company decided not to back this one due to the experience they’d had with the previous company. Then it went on to be a unicorn in three years.Lessons learnedThe same kind of analysis or rigor will not apply every time you’re investing. You’ve got to factor in the timing and not overly pattern match because things change, markets change, dynamics change.Evaluate things from the first principle basis. You do not want to just extrapolate from a past pattern.As long as you have repeatability in your process, in your method, in your sourcing, and your checklists, overall, you’re going to be just fine.Andrew’s takeawaysThere’s going to be a point where you’re just going to have to make your play.Actionable adviceIn early-stage investing, you can’t borrow conviction; you’ve got to get your own conviction because it’s subjective. There’s got to be something that’s off the charts that should...

BIO: Marcel Daane is an award-winning executive coach and author living in Singapore.STORY: Marcel built a great gym, but because he thought he was the expert in the field, he became a horrible boss. He wanted to run the show to the point where he burnt himself out. Eventually, he had to leave the business that had taken him 10 years and $500,000 to build.LEARNING: Don’t start believing your own hype to a point where you ignore other people’s insights and opinions. Just because you have strong skills in an area that doesn’t mean you’ll make a great entrepreneur.&nbsp;“When we become over-reliant on what we think, we know we get stuck in our heads.”Marcel Daane&nbsp;Guest profileMarcel Daane is an award-winning executive coach and author living in Singapore.Worst investment everMarcel had a desire to start his own gym, and it took him about 10 years or so of saving. With the help of his wife, he managed to save a quarter of a million dollars. But Marcel needed about half a million, so he went out and sought some partners and managed to raise the half-million. Marcel then built one of the most awesome gyms in Singapore that you could imagine.He built a speed institute with the intent to give everybody an opportunity, including children, to feel like they were athletes. The gym had sprinting lanes and all that kind of stuff in there. But there were no treadmills.When they opened their doors and invited people to see the gym, they all asked where the treadmills were. It was right there and then that Marcel knew there was a problem. The problem was that he had built a gym that was for him, and it took so much energy to get people to buy into it.But where the investment went wrong was actually with Marcel. As a personal trainer, he was extremely passionate about how he did his work. He considered himself an expert in the field, so he treated his partners and staff like they were working for him and it was his way or the highway. Marcel became a horrible boss.With this kind of attitude, it didn’t take Marcel long to burn out. He finally concluded that he couldn’t sustain this way of operating. So he spoke to his partners, and they came to a settlement, and Marcel left the company. He had basically bailed on his own company. Interestingly, the company started doing better after he left.Lessons learnedIf you’re an expert in your field and want to start a business in that field, first check yourself. Make sure that you don’t start believing your own hype because other people around you may be less knowledgeable than you but might have some phenomenal insights that can help your business.Don’t get so determined that you put blinders on and stop opening yourself up to perspectives, ideas, and thoughts from other people.If you think you’re the expert, get other people to put you in check because you’re going to need them.Andrew’s takeawaysGive your customers what they want.Don’t get overconfident in your expertise. Just because you have strong skills in an area that doesn’t mean you’ll make a great entrepreneur.Actionable adviceStop believing that what you think you know is the only option. There are millions of different ways of operating and doing things, and there are ideas out there that you just lock yourself off to by believing in your own hype.No. 1 goal for the next 12 monthsMarcel’s number one goal for the next 12 months is to make sure that his new book The Five...

BIO: Jam Zulueta is a risk expert in the fintech and digital banking space. He is a career and personal finance coach.STORY: Jam failed to invest in himself for a very long time, and for this reason, he missed out on many opportunities in life.LEARNING: Invest in yourself as early as possible. Take risks, learn new things, and you’ll set yourself apart.&nbsp;“The best investment you can make is an investment in yourself.”Jam Zulueta&nbsp;Guest profileJam Zulueta is a risk expert in the fintech and digital banking space. He is a career and personal finance coach.Worst investment everJam’s worst investment ever was not investing in himself early in life. He didn’t try exploring new things or gaining new skills, and because of this, he missed out on many opportunities. It took Jam a long time to discover that when you’re investing, it’s not really about timing the market; it’s about time in the market. The same thing applies when investing in yourself. It pays to learn something early on in life by trying out new things, discovering things, and then getting into that. And once you get good at something, you continue with it for many years, and by the time you’re in your late 20s, 30s, or 40s, you’ll have become quite the expert in that field.Lessons learnedTry out new things, and take those risks not just in the financial ones but also on yourself.Go all-in on yourself. Try something new, do something special, and find what you love.Even if people shoot down your idea, or you make mistakes, keep trying. You only fail if you don’t take the shot.Andrew’s takeawaysStart now, learn something, and you will set yourself apart.Actionable adviceYou may not have that initial momentum to carry you forward but just start, just do it.No. 1 goal for the next 12 monthsJam’s number one goal for the next 12 months is to launch a digital bank he’s currently building. He also wants to increase his learning and focus on his coaching and personal finance career.Parting words&nbsp;“Just get to it.”Jam Zulueta&nbsp;[spp-transcript]&nbsp;Connect with Jam ZuluetaLinkedInFacebookYouTubeAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master Class<a href="https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market" rel="noopener...

BIO: Amit Kumar Agarwal is the founder and CEO of NoBroker.com, the world’s largest C2C real estate platform with 13 million customers, eliminating brokers and agents in real estate transactions with a tech-based approach.STORY: Amit decided to be in complete control of his business, and even when he hired people, he hired his juniors, who literally do nothing without him. This kind of control only created bottlenecks, and he couldn’t scale his business until he partnered with a person who had more expertise than him.LEARNING: You won’t scale your business if you keep doing everything on your own. Hire great people and nurture them.&nbsp;“If you want to scale up, then doing everything on your own and trying to control things is a very bad idea.”Amit Agarwal&nbsp;Guest profileAmit Kumar Agarwal is the founder and CEO of NoBroker.com, the world’s largest C2C real estate platform with 13 million customers, that is eliminating brokers and agents in real estate transactions with a tech-based approach. He has raised $151m of institutional funding so far.The NoBroker business model is disruptive, tech-based, capital-efficient, and designed to be scaled globally.Worst investment everWhen Amit first started his company, he was doing everything on his own. From finance to HR to operations. Everything would have to go through him. When it came to hiring people, he hired his juniors and continued making all the decisions.Slowly this blew over for Amit. Everything was over the place. His juniors didn’t understand his business, and he would have to be the one making even the tiniest decisions when trying something new. Amit’s team would get stuck because they had to speak to him before doing anything. Things just started going out of control because Amit couldn’t handle it all.Luckily, Amit was saved from his worst investment ever by a very experienced guy who happened to visit his office. He had gone to the same college as Amit, and they joined hands and ran the company together. Suddenly, there was a tremendous business change. Amit realized that what he needed was people smarter than him.Lessons learnedYou won’t scale your business if you keep doing everything yourself and trying to control things.Hire great people and nurture them.Get expertise in each functional area as soon as possible and give them independence and accountability.Andrew’s takeawaysWhen starting a business, work with the $3 million rule. Think about how quickly are you going to get your revenue to $3 million? With $3 million, you now have the budget to have a proper management team, office, software, and infrastructure to scale your business.If you’re struggling right now and are overloaded and overwhelmed dribbling it all yourself, stop and think about where you’re at. It may be time to reach out, get help, and build your team, so you’re not doing everything.Actionable adviceWe need to continue learning and reassessing our businesses. As the situation changes, you also need to change quickly, and hence you need better people with better expertise.No. 1 goal for the next 12 monthsAmit’s number one goal for the next 12 months is to keep his customers happy, expand into new services, and make them bigger.&nbsp;[spp-transcript]&nbsp;Connect with Amit Agarwal<a href="https://www.linkedin.com/in/amit-kumar-agarwal-5b30301/" rel="noopener...

BIO: Alex Gruye and Assaf Arie are real estate property management brokers in Twin Cities, Minnesota. They’re partners at Lion Rock Property Management who handle real estate investments, manage portfolios, properties, etc.STORY: A group of gentlemen approached Alex and Assaf to manage some single-family homes they had invested in. These properties started as a bad investment, but the duo restored them and turned them into tier-one properties. They later sold them for double the money the gentlemen had invested.LEARNING: Proper due diligence is paramount. Have the proper team with the right experience to help you pick and manage your property.&nbsp;“Talk to a seasoned property manager; they’ll get you a lot of insight on the market.”Alex Gruye and Assaf Arie&nbsp;Guest profileAlex Gruye and Assaf Arie are real estate property management brokers in Twin Cities, Minnesota. They’re partners at Lion Rock Property Management that handles real estate investments, manages portfolios, properties, etc., and all of the headaches that come along with it.Worst investment everA group of gentlemen who had made their first multifamily investment in a couple of single-family homes came to Alex and Assaf for their property management services. The homes were in a less desirable, tougher side of town known for its problems.The owners had purchased the property blindly and with a lot of excitement, but it turned out to be their worst investment ever. The homes were in a poor state when Alex and Assaf started managing them. They received 14 pages of citations that were never even disclosed through the underwriting process. There were units where all of the windows were broken, and they had to replace every stove, every refrigerator, and every AC unit in all 20 units.Alex and Assaf planned to turn this from the worst investment ever to the best one ever. The properties were a tier-three, and they worked them up to a tier-one. The plan was to recommend the owners sell the property after getting them to tier one. There were months of management where they held their bill essentially to make sure the properties kept afloat and got where they needed to be to sell them for profit. They did this because they knew money was going to come in once they sold them. They knew they had to go in and push to get the units to look nice and spent an upward of $25,000 to make this happen.They were able to sell the units, and the owners doubled their money. They turned something that was literally from day one the worst nightmare to an investment that brought in double the money.Lessons learnedIn real estate, proper due diligence is paramount.Have the proper team with the right experience, especially when getting your property.Understand the area the property you want to buy is in. Visit the area at different times of the day and see what it is like; talk to the neighbors and inspect every unit before you buy it.Know the nuances of the investment. Understand how it works, know how to operate it, understand the market drivers and the opportunities in the area. Also know the risks.Andrew’s takeawaysIt doesn’t matter what the investment you’re getting into; you’ve got to do your research to understand it and make sure it’s a worthy investment.When buying property and you don’t have a lot of experience in

BIO: Neivia Justa is a journalist, entrepreneur, speaker, mentor and teacher, founder and leader of JustaCausa, with 30 years of experience as an executive in communication, culture, diversity, equity, and inclusion, in leadership positions at companies such as Timex, Natura, GE, Goodyear, and J&amp;J.STORY: Neivia turned down an invite to move to Ohio when the company she was working for moved. Afraid of being unemployed, she took the first job offer she got without doing any background research on the company. It turned out to be the most sexist company ever, and she quit after just three months.LEARNING: Don’t take just any job you get because you’re afraid of being jobless. Always stand up for yourself and what you believe in.&nbsp;“If you learn to stand out for yourself, you get stronger.”Neivia Justa&nbsp;Guest profileNeivia Justa is a journalist, entrepreneur, speaker, mentor and teacher, founder and leader of JustaCausa, with 30 years of experience as an executive in communication, culture, diversity, equity, and inclusion, in leadership positions at companies such as Timex, Natura, GE, Goodyear, and J&amp;J.Creator of #líderComNeivia program and the social media movements #ondeestãoasmulheres and #aquiestãoasmulheres, she was the winner of Troféu Mulher Imprensa (Women’s Press Trophy) and Prêmio Aberje in 2017 and, in 2018, was elected one of LinkedIn Brazil Top Voices.Worst investment everIn 2015, the company that Neivia was working for relocated its offices from Latin America to Ohio, and she was invited to move there. However, she was not sure she wanted to leave one of the biggest cities in the world and move to a small town. She dilly-dallied with her decision for about six months when her boss insisted it was time to decide.Neivia decided not to move to Ohio, much to her husband’s disappointment, as he dreamed of living in the US. Her husband was not pleased with her decision and didn’t speak to her for a month.Now that she decided to stay, it meant that Neivia would be jobless soon. Because she didn’t want to be unemployed, she took the first job that she got. During the job interview, some red flags indicated that this wasn’t a good company to work in, but Neivia hardly paid any attention to them. She simply wanted to get the job, and she did.The company turned out to be sexist, and the boss was the worst she’s ever worked with. She quit after just three months because she couldn’t stand it.Lessons learnedDon’t accept any job that comes along just because you’re afraid to be unemployed.Before accepting a job, understand the company’s purpose, talk to people who have worked there or still work there and look at how the leaders behave, think, and treat people.Andrew’s takeawaysStand up for yourself and for what’s right.Actionable adviceWhen looking for a job, pay attention to the people working for that company because companies are made by people, and those people build the culture. A healthy culture is created by healthy people who respect others and want to collaborate and serve people.No. 1 goal for the next 12 monthsNeivia’s number one goal for the next 12 months is to connect and help develop true leaders that love people and who want to assume their responsibility to make our world fairer, more equal, and more sustainable.&nbsp;[spp-transcript]&nbsp;Connect with Neivia Justa<a href="https://www.linkedin.com/in/neiviajusta/" rel="noopener noreferrer"...

BIO: MD Imdadul Islam (Imdad) is a business strategist, speaker, and collaborator. He collaborates with CEOs, CXOs, sales leaders, Realtors, and Financial Advisors to help them grow via Personal Branding, Social Selling, and Employee Advocacy.STORY: Imdad met a guy who sold him on the idea of investing in his online business. He borrowed money from his mom and put it into the company. He received some returns the first two months, but after that, the guy went mute. Eventually, he learned that the company had closed shop, and that’s how he lost his six-figure investment.LEARNING: Never invest with borrowed money. Know the business well before you invest in it.&nbsp;“Don’t borrow money to invest because that’s not your money to lose.”MD Imdadul Islam&nbsp;Guest profileMD Imdadul Islam is a business strategist, speaker, and collaborator. He collaborates with CEOs, CXOs, sales leaders, Realtors, and Financial Advisors to help them grow via Personal Branding, Social Selling, and Employee Advocacy.He has gained experience in the consulting profession by working with a number of Group Companies, SMEs, and Startups in Bangladesh.Worst investment everImdad was always interested in becoming an investor. So he’d network with many people and talk to his seniors about their investments and how they do it. He met a guy who shared an investment opportunity at a company dealing with some online business. Imdad didn’t understand much about the business, but he believed the guy when he told him they could multiply his investment.Imdad went to his mom and asked her to lend him money to invest in the business. His mom loaned him a six-figure amount, which was quite a big deal because she wasn’t rich, but she trusted Imdad.He took the money and invested it in the business. Imdad got some returns the first two months, then suddenly there were no more payments. His friend told him that the business was just going through typical business hurdles and would bounce back.When the payments didn’t come through for a couple of months, Imdad visited their office only to find the company had shut down. His calls went unanswered, and soon enough, he realized he had been scammed.Lessons learnedBefore you invest, learn about the business. Understand how the company makes money, where your investment will go and if the company can generate a return for itself and you.Never invest by borrowing money because that’s not your money, and should you lose it, the loss will be twice-fold.Andrew’s takeawaysBe careful when a stranger or someone you barely know comes to you with an investment proposal. Such people are experts at playing on your emotions and will often scam you.Actionable adviceAt least have a basic idea of what you want to do before you do anything, not just in investment but in everything in life.No. 1 goal for the next 12 monthsImdad’s number one goal for the next 12 months is to add value to more people and help them grow their personal brand.Parting words&nbsp;“The best investment you can ever make is in yourself.”MD Imdadul Islam&nbsp;[spp-transcript]&nbsp;Connect with MD Imdadul IslamLinkedIn<a href="https://www.facebook.com/imdad.global/" rel="noopener noreferrer"...