My Worst Investment Ever August 2021
Ep436: Ali Awad – Accept Low-Risk Payment Methods Only
BIO: Ali Awad, also known as The CEO Lawyer on social media, is a successful lawyer and entrepreneur. He has a multi-million dollar law firm and media company where he teaches lawyers, doctors, and other professionals how to brand themselves digitally and generate clients through social media.
STORY: Ali once delivered an order of car audio worth $25,000 to a newly acquired customer. Out of excitement to make such a huge sale, he made the mistake of accepting postdated checks for payment. The checks bounced, and the customer threatened to shoot him if he ever went near his store again.
LEARNING: Only accept risk-free payment methods, especially when dealing with new customers.
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Ep435: Kim Kristiansen – Consider the Relevance of What You Devote Yourself To
BIO: Kim Kristiansen is a Family Physician from Denmark with more than 30 years of clinical experience. He is a peer reviewer for medical journals and a former TEDMED research scholar.
STORY: Kim found himself wasting so much time reading research papers that were not relevant to his patients. Now he has learned how to screen papers for clinical relevance.
LEARNING: Screen research papers for clinical relevance to avoid wasting your precious time.
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Ep434: Dan Solomon – The Time to Start Investing Is Now
BIO: Dan Solomon is on a mission to help international students and young professionals, especially those in Germany and the Netherlands, gain the right skills to succeed in the job market.
STORY: When Dan was studying in Russia, he would receive $500 every month from his scholarship. Dan never invested a single cent of this money for the five years he was in Russia, which regrettably would have grown to a substantial amount had he invested it.
LEARNING: Start investing now to gain from compounding interest. Don’t spend your dividends or interest; reinvest it.
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Ep433: Shinobu Hindert – Speak Up When You Believe Something Strongly
BIO: Shinobu Hindert is a certified financial planner™, professional, money expert, and creator of Empowered Planning, LLC.
STORY: Shinobu tried to convince her clients to diversify their investment, but they ignored her and insisted on investing 100% in the Lehman Brothers company. When the 2008 financial crisis hit, the company went under, and the clients lost their investments. Shinobu regretted not pushing them harder to diversify.
LEARNING: Don’t be afraid to push your philosophy hard if you believe in it. What worked for you in the past may not always work for you in the future.
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Ep432: Kittisak Kovintavewat – Be an Investor, Not a Speculator
BIO: Kittisak Kovintavewat is a value investor who focuses on investing in value stocks in the US and China.
STORY: Kittisak bought the Thai Airways stock as it grew steadily, but a few external and internal problems made the stock price drop. Even though Kittisak had studied the company extensively and knew the stock was strong, he panicked and sold his shares. The problems were later resolved, and the stock went up to three times more than what Kittisak had sold it for.
LEARNING: Don’t focus too much on the price; instead, focus on the company’s stability. Find your investment style.
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Ep431: Julie Talbot – Establish Rules to Live By
BIO: Julie Talbot is growing a UK property portfolio from Abu Dhabi, where she lives with her husband and twin daughters. She’s completed 25 property projects since 2017, and 2 of her rules are she doesn’t fly back to the UK, and her phone doesn’t ring.
STORY: When Julie moved to Abu Dhabi, she assumed she couldn’t handle her property business in the UK from that many miles away, so she hired someone in the UK to do it for her. This person got her mixed up in a property price war that took 10 years to resolve.
LEARNING: You’ve got all it takes to run a business from 4,000 miles away just as you would if you were 4 miles away; believe in yourself. If you want to seek advice, get it from an expert in that area, not a novice.
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Ep430: Dan LeFave – Chaotic People and Systems Rarely Create Value
BIO: Dan LeFave is the #1 Best-selling Author of Living the Life of Your Dreams – How To Stop Working Insane Hours And Start Living An Awesome Life. He helps businesses grow 7 and 8-figure revenues.
STORY: Dan quit his job to work in his brother’s company, where he ended up managing daily business operations. His brother’s business systems were pretty chaotic, and it took Dan years to get it to run smoothly. When Dan asked his brother to make him a shareholder, and he refused, he realized that he had made his worst investment building someone else’s dream.
LEARNING: Be careful of working with chaotic people or systems because you will only keep going in circles without gaining any value.
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Ep429: Justin Weeder – Only Go Into Debt to Buy Assets
BIO: Justin Mark Weeder is a psychology nerd turned sales coach. He’s the creator of the LISTEN Method for closing sales and the founder of The Covert Closer – a sales coaching and consulting agency based in Denver, Colorado.
STORY: Justin and his wife bought a new house and made the mistake of getting a bunch of credit cards to buy stuff for the home. They spent so much that before they knew it, they were so deep into credit card debt.
LEARNING: Use debt to buy assets, not to purchase shiny stuff. Cut your costs down and live below your income if you want to create wealth.
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Ep428: Kara Goldin – Don’t Put Industry Leaders on a Pedestal
BIO: Kara Goldin is the Founder and CEO of Hint, Inc., best known for its award-winning Hint water, the leading unsweetened flavored water.
STORY: When Kara started her beverage business, she had zero experience in the industry. So she figured hiring people with impressive experience in the big beverage companies would help her business. Instead, they didn’t understand her vision, and thus there was no return on her vast investment.
LEARNING: When hiring, don’t be blinded by executives in big companies; they may not have the experience needed to run a startup.
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Ep427: Deborah Crowe – Don’t Give Up, Make Today Great
BIO: Deborah Crowe is an executive and business coach. She has more than 30 years of global experience in top Fortune 500 companies in Canada, the United States, Europe, Asia, and Australia, leading and coaching C-suite leaders, executive professionals, teams, and businesses into a success.
STORY: Deborah’s dad got sick when she was 20 and died a year later. She had to quit school to take care of her sick dad, so she grew up quickly. Without the much-needed parental guidance on navigating adulthood, Deborah often found herself undervaluing herself, her intellect, and what she brings to the table.
LEARNING: Don’t give up on yourself even when you can’t see the light at the end of the tunnel. Stay consistent.
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Ep426: Ulrik Nerloe – Bring Your Heart to Work and Life
BIO: Ulrik Nerloe’s specialty is empathetic dialogue and the work of clarifying and realizing dreams. As a holistic coach and mentor, Ulrik helps people to encourage the joy of life and find themselves.
STORY: Ulrik quit his job in the IT industry to work as a holistic coach and mentor, helping people realize their dreams. He sacrificed everything to do what he loves and that has seen him suffer a few financial challenges.
LEARNING: You need courage, resilience, and energy to achieve your dreams.
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Ep425: Jessica Yarbrough – Don’t Outsource Your Sales
BIO: Jessica Yarbrough has quickly developed a reputation of being one of the best business strategists and marketing and sales consultants for entrepreneurs who want to sell high-value products and services.
STORY: Jessica met a very persistent guy who offered to take over her sales and marketing. Jessica was at a point where she could do with the help, so she didn’t research the guy and his business. Unbeknownst to her, the guy was selling his services to Jessica’s customers instead of getting her new ones.
LEARNING: Do thorough research before working with a service provider. Don’t outsource your sales unless you’re a high-volume business.
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Ep424: Robert Leonard – Value the Qualitative Aspect of a Stock
BIO: Robert Leonard is the VP of Growth & Innovation at The Investor’s Podcast Network, Podcast Host of ‘Real Estate 101’ and ‘Millennial Investing,’ ex-W2 Accounting and Finance professional, as well as a stock and real estate investor.
STORY: When Robert first got into the financial markets, his research into companies he invested in was purely quantitative. He never paid attention to details such as the actual business itself, its prospects, or where the industry was going. His focus was purely on the numbers. This led him to make a couple of bad investments.
LEARNING: There is more value or at least equal value in the qualitative factors than there is in the financials. Stop just focusing on intrinsic value and start looking at the whole picture.
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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.