My Worst Investment Ever November 2022
Ep625: Adrian Choo and Sze-Yen Chee – The Great Career Paradox
BIO: Adrian Choo is a Career Strategist in Asia and the founder of Career Agility International. Sze-Yen Chee is the Executive Director/Co-founder of Career Agility International and is a top Singaporean career coach.
STORY: We look at their book The Great Career Paradox (When Pursuing Career Success May Not Lead To Career Happiness).
LEARNING: Your career is not everything.
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Ep624: Litan Yahav – The Risk of Investing in Single-Family Rental Properties
BIO: Litan Yahav sold a startup, decided to invest a lot of the money he made into real estate – mainly syndications, and encountered a lot of (good) problems managing it. That led him to build a new startup to solve his problems and similar problems of millions like him.
STORY: When Litan sold his company, he and his co-founder decided to buy single-family homes in Ohio via a property management firm. The two never anticipated the challenges they’d encounter from tenants and the municipality.
LEARNING: Investing in single-family rental properties is never really passive. Buying a single-family home is riskier than investing in an apartment block. Buying properties far away from you is just full of risks.
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Ep623: Chris Do – Don’t Put Good Money After Bad
BIO: Chris Do is a self-described loud introvert, recovering graphic designer, middle child, serial entrepreneur, Emmy award-winning director, educator, and founder of TheFutur.
STORY: Chris’s business was based on the West Coast, and they wanted to expand to the East Coast for a bigger market share. So they opened a small office hemorrhaging money and didn’t generate substantial revenue.
LEARNING: You can’t export your core competency. Optimize your business before you scale.
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Ep622: Cesar Hasselmann – Work Today on the Things You Want to See Happen
BIO: Cesar Hasselmann is an author, mentor, coach, and business consultant.
STORY: Cesar started a very successful gas and supermarket distribution network when he was only 16 years old. Unfortunately, about three years later, his country’s president stole public funds and caused most businesses, including Cesar’s, to suddenly collapse.
LEARNING: Challenges make you a better entrepreneur. Everything has a time. Understand the macro environment.
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Ep621: Michael Bungay Stanier – Find a Trusted Financial Advisor to Manage Your Investments
BIO: Michael Bungay Stanier is the author of seven books that have sold over a million copies between them. He’s best known for The Coaching Habit, the best-selling coaching book of the century and already recognized as a classic.
STORY: Michael had $5,000 that he wanted to invest. He tasked his wife with finding the most suitable investment option. She found e-trading. They opened an online account and bought one share from about 20 companies. When it was time to sell, they lost almost half the remaining value of the portfolio to selling fees.
LEARNING: If you’re struggling with investing, find a trusted financial advisor to manage your investments—separate creating wealth from growing wealth. Understand the nature of the markets before you invest.
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Ep620: Robert Glover – Start Building a Wisdom Council When Young
BIO: Dr. Robert Glover, coach, speaker, and educator, is a relationship expert with over 40 years of professional experience.
STORY: Robert went shopping for a pop-up trailer, and when he found one, he bought it before inspecting it thoroughly. His gut told him this was a terrible idea, but he ignored it. The trailer turned out to be useless to him. He sold it off for half what he’d paid for it.
LEARNING: Listen to your intuition. Suffering is also the path to joy. Don’t get too attached to anything.
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Ep619: Shil Shanghavi – Find Your Elite
BIO: Shil Shanghavi is a public speaking specialist, storyteller, and highly regarded speaker coach. He is redefining the meaning of public speaking by demonstrating its value across all forms of communication.
STORY: Shil’s worst investment was paying for ecstasy for over 15 years. However, this also turned out to be his best investment because he discovered house music while high on drugs. He learned to speak to music to control his stuttering and talk fluently.
LEARNING: Find a way to flip your challenges into your success story. Reach out to people around you when you need help. Write your thoughts down but don’t feel compelled to action them immediately.
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Ep618: Mike Michalowicz – Stay In Your Lane
BIO: Mike Michalowicz leads two new multi-million-dollar ventures as he tests his latest business research for his books.
STORY: Mike made huge profits from selling his second business, and his ego as an entrepreneur exploded. He took the gains and decided to fund multiple companies in different industries where he had no experience. They all failed and left him with zero assets.
LEARNING: Stay in your lane. Take time after selling a business to think before you rush into another investment.
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Ep617: John Talty – It’s OK to Move On to the Next Thing
BIO: John Talty is the senior sports editor and SEC Insider at Alabama Media Group. He is the Wall Street Journal best-selling author of The Leadership Secrets of Nick Saban: How Alabama’s Coach Became the Greatest Ever.
STORY: John left New York to take a new job in Jackson, Mississippi. He didn’t do any research before he went and was miserable the moment he arrived.
LEARNING: It’s OK to move on to the next thing if your decisions go wrong. Sometimes you have to move around a little to find the right spot.
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Ep616: Aaron Velky – Go Slow and Think Through an Investment Before You Commit
BIO: Aaron Velky is an entrepreneur, author, high-performance coach, and speaker from Phoenix, Arizona.
STORY: Aaron felt stuck as an entrepreneur and decided to find a quick-fix investment. He landed on forex trading, which seemed like exactly what he wanted. Aaron never took the time to learn about the trade and lost $56,465 in this venture.
LEARNING: Think through an investment before you commit. Detach yourself from your emotions when investing. Don’t get involved with forex.
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Ep615: Sean Harper – Iterate Until You Come Up With a Good Market Fit
BIO: Sean Harper is the co-founder and CEO of Kin, an insurance company built from scratch on modern tech to make it easier and more affordable to insure a home.
STORY: When Sean started his first business, things got so hard that when a company offered to buy it, he sold it without a second thought. Ten years later, he still regrets this decision.
LEARNING: Believe in yourself. Be systematic when setting up your business. Iterate until you come up with something that the market appreciates.
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Ep614: Cam F Awesome – Don’t Stop Chasing You’re Dream
BIO: Cam F Awesome is a multi-time National Champion Heavyweight Olympic boxer and former USA National Boxing Team Captain.
STORY: Cam invested so much time and effort chasing his dream of going to the Olympics. An avalanche of events stole this dream from him, and now he doesn’t stand a chance of ever going to the Olympics.
LEARNING: There are ups and downs in investing. Persevere and be willing to pivot.
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Ep613: Dudu Cearense – It’s Your Responsibility to Take Care of Your Money and Wealth
BIO: Dudu Cearense is an ex-soccer player, financial adviser, and private banker.
STORY: Dudu’s worst investment ever was not learning about managing his money when he was a successful soccer player.
LEARNING: Invest in learning about money management.
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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.