My Worst Investment Ever Podcast

Laurie Barkman - Don't Wait Until You're Exiting to Plan Your Exit

BIO: Laurie Barkman is a Certified Exit Planner, M&A Advisor, and founder of The Business Transition Sherpa®. STORY: Laurie explains why it's important to start planning your exit plan five to seven years before and what you need to do during that period. LEARNING: Don't wait until you're exiting to plan your exit. > "Don't wait to do exit planning when you're exiting, it will be too late. Start five to seven years out. This gives you time to make an impact for change, make the business more attractive and ready, and to also make yourself more ready." > Laurie Barkman GUEST PROFILE Laurie Barkman [https://www.linkedin.com/in/lauriebarkman/] is a Certified Exit Planner, M&A Advisor, and founder of The Business Transition Sherpa® [https://thebusinesstransitionsherpa.com/]. As the former CEO who led a $100 million company through acquisition, she helps business owners build valuable, sellable companies and exit on their terms. Laurie is the Amazon best-selling author of The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options [https://thebusinesstransitionsherpa.com/the-business-transition-handbook/] and hosts the award-winning podcast Succession Stories [https://podcasts.apple.com/us/podcast/succession-stories/id1507050698], rated in the top 2.5% of podcasts globally. Get a complimentary business assessment [https://thebusinesstransitionsherpa.com/business-transition-assessments/]. See how an acquirer would evaluate your business, enabling you to focus today on what will be important down the road. Learn what changes could double the value of your business. RETURN VISIT: WHAT'S CHANGED AND WHAT HASN'T Three years ago, Laurie joined Andrew on Ep727: Quit Often Quit Fast [https://myworstinvestmentever.com/ep727-laurie-barkman-quit-often-quit-fast/] to share her own worst investment ever. This time, she's back with something arguably more valuable: a masterclass on the single most common mistake business owners make: waiting too long to plan their exit. "I wish I knew this sooner." That phrase, Laurie says, is the number one thing she hears from business owners who've gone through a transition without proper planning. By the time they're ready to sell, it's already too late to improve the business, attract better buyers, or close the wealth gap they've been quietly ignoring. If you haven't heard Episode 727 [https://myworstinvestmentever.com/ep727-laurie-barkman-quit-often-quit-fast/], go back and listen to Laurie's personal story. In this episode, she brings that same honesty, this time pointed squarely at what you, as a business owner, need to be doing right now. EXIT PLANNING IS NOT AN EXIT-DAY ACTIVITY The most important insight Laurie delivers in this episode is deceptively simple: exit planning needs to start long before you're planning to exit. If a prospective client tells her they're thinking about selling their business in one to three years, her response is direct: "You're already behind." A well-structured exit takes five to seven years to execute properly. That's not because the paperwork is complicated. It's because building a more attractive, more valuable, more transferable business takes time. And so does getting you personally ready for what comes after. Laurie works with two very different kinds of readiness: * Business readiness: Making the business more attractive, more operationally independent, and more valuable to a future buyer. * Personal readiness: Preparing the owner emotionally and financially for the life that comes after the company. Too many founders kick this can down the road, only to find the finish line overwhelming when it finally arrives. THE EXIT TIMELINE EXERCISE One of Laurie's most practical tools is what she calls the Exit Timeline Exercise. She sits with clients and literally maps out, year by year, what needs to happen (both in the business and in their personal lives) to set them up for a successful transition. This isn't a generic checklist. It's built around the owner's specific situation: their age, their family's ages, their life stage, and what they actually want their next chapter to look like. UNDERSTANDING THE NUMBERS: WEALTH GAP VS. VALUE GAP Laurie walks through two key calculations every business owner should understand: THE WEALTH GAP This is the difference between what you need for retirement and what you currently have. Many business owners have most of their net worth tied up in their company, which means selling the business isn't just an exit; it's a financial planning event. The net proceeds (after taxes, transaction fees, and other costs) need to be factored into the nest egg calculation. As Laurie reminds us, it's the net number that counts, not the headline price. THE VALUE GAP Once you know your wealth gap, you can figure out what your business needs to be worth—and compare that to what it's actually worth today. The difference is the value gap. Closing that gap is the work of exit planning. WHAT BUYERS ARE ACTUALLY BUYING One of Laurie's most counterintuitive insights: when you're selling your business, stop thinking about your products and services. Start thinking about what problem your company solves for another company. Buyers, particularly strategic buyers, are acquiring capabilities, not catalogs. They might want your customer list, your talent, your geographic footprint, your intellectual property, or your distribution network. A European acquirer once offered Andrew a revenue multiple (not EBITDA) because he didn't care about the coffee margins. He wanted the distribution infrastructure to pour his own volume through. That's a strategic buyer making a strategic bet. Understanding who might want to buy you, and why, should shape how you build and present your business years before any transaction. TRANSFERABLE ASSETS: DO AN INVENTORY NOW One of the most actionable practices Laurie recommends is a transferable assets audit. Go through every major asset in your business (contracts, customer relationships, intellectual property, talent, equipment) and rate each on a scale of 1 to 5 for how transferable it is to a new owner. A score of 1 isn't a crisis. It's a to-do item—one you can now address if you start the process early enough. A common example: contracts that aren't transferable. Many business owners have never thought about whether their agreements include a transferability clause. Without one, a sale can be significantly complicated. With a transferability clause added proactively at renewal, the problem simply goes away. KEEP YOUR FINANCIAL RECORDS IN ORDER Another practical piece of advice comes from Andrew's observations of businesses in Thailand, echoed by Laurie's US experience: messy financial records are a serious exit liability. Buyers expect the last three full years of clean financials, current year data, and a credible forecast. If your monthly books aren't closed, your expense categories are inconsistent across years, or your numbers are tied up with personal expenses, you've created friction in the due diligence process. This friction costs you time, trust, and money. Laurie recommends moving toward reviewed financials as an early milestone. For many businesses, it's not a high incremental cost, and it signals credibility to buyers. LESSONS LEARNED * Don't wait to plan your exit until you're ready to exit. By that point, it's already too late to make meaningful improvements to the business. Start five to seven years out. * Personal readiness matters as much as business readiness. Too many owners focus entirely on the company and are blindsided by the emotional and lifestyle changes that come with stepping back. * Know your wealth gap and your value gap. These two numbers are the foundation of any honest exit plan. * Buyers buy on their timeline, not yours. When someone comes calling, they're ready. You may not be. The goal of exit planning is to close that readiness gap before the call comes. * Recurring revenue commands a premium, but know the difference between recurring and reoccurring. Contracted, predictable cash flows are what buyers pay top dollar for. * Take an inventory of your transferable assets. Find the gaps now, while you still have time to close them. * Clean, consistent financial records are non-negotiable. Start with reviewed financials and build from there. ANDREW'S TAKEAWAYS * Profitability and growth are both required. Profitability without growth isn't particularly valuable, and growth without profitability doesn't justify the premium either. It's the combination that drives multiple expansion. * The $25 million revenue threshold is a real inflection point in buyer perception. Businesses that cross it are seen as market-proven in a way that smaller companies, however promising, simply aren't. * When a strategic buyer sets a revenue multiple, they may not be interested in your margins at all. They're buying your footprint. Understanding which type of buyer is most interested in your business helps you position it effectively. * Always ask: a multiple of what? EBITDA, revenue, and seller discretionary earnings are not interchangeable, and misunderstanding that difference can lead to serious miscalculations of what your business is actually worth. ACTIONABLE ADVICE 1. Do the exit timeline exercise today. Sit down with a piece of paper and map out, year by year, what your business and your personal life need to look like over the next five to seven years for your exit to go the way you want. 2. Know your numbers. Calculate your wealth gap (what you need versus what you have) and get a realistic estimate of your business's current value. Then close the gap deliberately. 3. Audit your transferable assets. Rate each major asset in the business on transferability from 1 to 5. Address the 1s and 2s now, while time is on your side. 4. Get your books in order. Commit to monthly close, consistent expense categorization, and review financials at tax time. Don't wait for a buyer's due diligence request to discover the mess. 5. If you're a financial advisor working with business owner clients, check out builtbydesign.info [http://builtbydesign.info] and consider joining the founding cohort. LAURIE'S RECOMMENDATIONS Laurie also recommends checking out her free guide [https://builtbydesign.info/guide] for financial advisors if you're looking for a more consistent way to have conversations about business growth and transition. NO. 1 GOAL FOR THE NEXT 12 MONTHS Laurie's number one goal for the next 12 months is to create a flywheel of partnerships and marketing efforts to grow her Built by Design [https://builtbydesign.info/] toolkit. [spp-transcript] CONNECT WITH LAURIE BARKMAN * LinkedIn [https://www.linkedin.com/in/lauriebarkman] * Facebook [https://www.facebook.com/LaurieBarkmanBTSherpa] * YouTube [https://www.youtube.com/@LaurieBarkman_BTSherpa] * Podcast [https://podcasts.apple.com/us/podcast/succession-stories/id1507050698] * Blog [https://lauriebarkman.me/succession-stories-episodes] * Books [https://lauriebarkman.me/book] ANDREW’S BOOKS * How to Start Building Your Wealth Investing in the Stock Market [https://amzn.to/3qrfHjX] * My Worst Investment Ever [https://amzn.to/2PDApAo] * 9 Valuation Mistakes and How to Avoid Them [https://amzn.to/3v6ip1Y] * Transform Your Business with Dr.Deming’s 14 Points [https://amzn.to/3emBO8M] ANDREW’S ONLINE PROGRAMS * Valuation Master Class [https://valuationmasterclass.com/] * The Become a Better Investor Community [https://astotz.kartra.com/page/become-a-better-investor-community] * How to Start Building Your Wealth Investing in the Stock Market [https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market] * Finance Made Ridiculously Simple [https://academy.astotz.com/courses/finance-made-ridiculously-simple] * FVMR Investing: Quantamental Investing Across the World [https://academy.astotz.com/courses/fvmr-investing-quantamental-investing-across-the-world] * Become a Great Presenter and Increase Your Influence [https://academy.astotz.com/courses/gp] * Transform Your Business with Dr. Deming’s 14 Points [https://academy.astotz.com/courses/transformyourbusiness] * Achieve Your Goals [https://academy.astotz.com/courses/achieve-your-goals] CONNECT WITH ANDREW STOTZ: * astotz.com [https://www.astotz.com/] * LinkedIn [https://www.linkedin.com/in/andrewstotz/] * Facebook [https://www.facebook.com/andrewstotzpage] * Instagram [https://www.instagram.com/andstotz/] * Threads [https://www.threads.net/@andstotz] * X [https://twitter.com/Andrew_Stotz] * YouTube [https://www.youtube.com/c/andrewstotzpage] * My Worst Investment Ever Podcast [https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2]

Ep820: Tony Martignetti – A Flattering Binder and $13,500 Down the Drain

BIO: Tony Martignetti is the evangelist for Planned Giving fundraising for small- and mid-size nonprofits. STORY: Two years into building his business, Tony convinced himself he could become the nation's thought leader on planned giving fundraising — not just for nonprofits, but for all Americans. He walked into a swanky Midtown Manhattan PR agency, got dazzled by a four-inch binder, and signed up at $6,750 per month. Two months and $13,500 later, his only return was a single bylined op-ed in a free subway newspaper. LEARNING: Check your ego. Vet your big ideas with honest, trusted people before spending any money. Understand that PR, even when it works, rarely converts to actual revenue. > "This was an ego investment. I did it for my vanity project. I got one placement in a giveaway newspaper on a federal holiday when nobody was in the subway. That was it." > Tony Martignetti GUEST PROFILE Tony Martignetti [https://www.linkedin.com/in/tonymartignetti/]is the evangelist for Planned Giving fundraising [https://www.linkedin.com/in/tonymartignetti/] for small- and mid-size nonprofits. Connect with him on LinkedIn. Check out Tony's free How-to Guide on Planned Giving Fundraising [https://www.linkedin.com/in/tonymartignetti/]. WORST INVESTMENT EVER Two years into running his consultancy, Tony had a big idea. He didn't just want to serve the nonprofit sector; he wanted to reach all Americans and make planned giving a concept that everyday citizens (not just charity insiders) would understand and act on. To do that, Tony decided he needed PR, the kind that lands you on 60 Minutes and gets Charlie Rose calling. He found his way to a prestigious agency in Midtown Manhattan, far from his own modest office in the Flatiron neighborhood. They had an 80-story skyscraper overhead to match. At the pitch meeting, they brought out what Tony describes as a four-inch-thick three-ring binder, every page in a plastic sleeve. Client on The Today Show. Client on Good Morning America. Client on 60 Minutes. Client with Charlie Rose. All this sucked Tony in, and he bought it all—hook, line, and sinker. They kept feeding his ego. He signed on at $6,750 per month. WHAT HE GOT FOR $13,500 After two months, Tony canceled the contract. His total return: one bylined op-ed in AM New York, a free newspaper distributed in New York City subway stations. The placement ran on Martin Luther King Day. A federal holiday when subway ridership was a fraction of normal on a Tuesday. No leads from Good Morning America. No call from 60 Minutes. No magazine profiles. No newspaper reporters are following up. Nothing promising on the horizon. Just $13,500 lighter and one op-ed that almost nobody read. WHY THE AGENCY LET IT HAPPEN The agency saw a solo entrepreneur with ideas far bigger than the media landscape could realistically support, and instead of managing Tony's expectations honestly, they kept stoking his enthusiasm to secure the fee. They should have talked him down to what's reasonable to expect. Instead, they completely mismanaged his expectations and kept feeding his ego to capture a fee. The fundamental problem was that Tony's ambition—to educate ordinary Americans about the value of nonprofits, then about the value of supporting them long-term, then to direct them toward specific giving vehicles—was a multi-step awareness campaign that no single PR placement could accomplish. It was simply too much to ask of the media. THE UNCOMFORTABLE TRUTH ABOUT PR AND REVENUE Years after the failed agency experiment, Tony had better PR results. He hired a skilled freelance publicist who secured quotes for him in The New York Times, the Wall Street Journal, and the Chronicle of Philanthropy, the leading trade publication in his sector. Reporters on the nonprofit beat came to know him and called him when they needed a source. And yet: not one new client ever picked up the phone because they saw Tony's name in the Times. This taught him a lesson: PR is more about reputation and awareness than revenue. LESSONS LEARNED * PR might get done right, and it still won't save you. It can build reputation and awareness over the years. It is not a customer acquisition channel. * For early-stage founders, the honest question to ask before writing a large check is: Is this actually going to build the business, or is this about making me feel like I've arrived? * Don't go check your idea with the people who are going to get a fee for capitalizing on your pie-in-the-sky idea. The people most likely to validate an idea are often the ones most financially motivated to tell you it's great. Lawyers, consultants, vendors, agencies—all have a stake in your enthusiasm. The honest input has to come from people with nothing to gain: trusted colleagues, mentors, or experienced friends who will tell you what they actually think. ANDREW'S TAKEAWAYS * Ego investments are a universal founder trap. Almost every entrepreneur who has started a business has made at least one purchase driven more by identity and aspiration than by clear ROI thinking. Naming it "a vanity investment" is the first step to catching it before it costs you. * PR almost never converts to customers. This is one of the most consistent findings across hundreds of My Worst Investment Ever PR can build credibility and awareness over time. But it is not a sales channel, and expecting it to deliver clients, especially early in a business, is a setup for disappointment. * The stage of business matters for marketing strategy. Early-stage businesses need direct, efficient client acquisition, not brand awareness campaigns aimed at broad audiences. Align your marketing spend with where you actually are, not where you imagine yourself to be. * The media landscape has to be ready for your idea. Tony's vision of educating all Americans about planned giving required multiple layers of awareness-building before a single TV segment could have any effect. Even flawless PR execution couldn't shortcut that process. ACTIONABLE ADVICE * Ask yourself: Is this a business investment or an ego investment? Before any significant marketing or PR spend, write down the specific customer acquisition outcome you expect. If you can't describe a clear path from the spend to a paying client, it's probably a vanity investment. * Match your marketing strategy to your business stage. In the first two to three years, most professional service firms grow through direct outreach, referrals, and relationship-building rather than mass media. Invest accordingly. * Understand what PR actually does. PR builds reputation and credibility over the long term. If that's your goal, it can be worth it. If your goal is revenue next quarter, look elsewhere. * If you're going to do PR, set explicit expectations in writing. What placements will they pursue? In what timeframe? What counts as success? If the agency won't commit to specifics, that tells you something important. NO. 1 GOAL FOR THE NEXT 12 MONTHS Tony's number one goal for the next 12 months is to publish his first self-published book: Planned Giving Accelerated, due out in September. A companion course will follow the book's release. PARTING WORDS > "Thank you very much, Andrew. This was great, great fun. It's very different than what I've done." > Tony Martignetti [spp-transcript] CONNECT WITH TONY MARTIGNETTI * LinkedIn [https://www.linkedin.com/in/tonymartignetti/] * YouTube [https://www.youtube.com/@realTonyMartignetti] * Podcast [https://tonymartignetti.com/] ANDREW’S BOOKS * How to Start Building Your Wealth Investing in the Stock Market [https://amzn.to/3qrfHjX] * My Worst Investment Ever [https://amzn.to/2PDApAo] * 9 Valuation Mistakes and How to Avoid Them [https://amzn.to/3v6ip1Y] * Transform Your Business with Dr.Deming’s 14 Points [https://amzn.to/3emBO8M] ANDREW’S ONLINE PROGRAMS * Valuation Master Class [https://valuationmasterclass.com/] * The Become a Better Investor Community [https://astotz.kartra.com/page/become-a-better-investor-community] * How to Start Building Your Wealth Investing in the Stock Market [https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market] * Finance Made Ridiculously Simple [https://academy.astotz.com/courses/finance-made-ridiculously-simple] * FVMR Investing: Quantamental Investing Across the World [https://academy.astotz.com/courses/fvmr-investing-quantamental-investing-across-the-world] * Become a Great Presenter and Increase Your Influence [https://academy.astotz.com/courses/gp] * Transform Your Business with Dr. Deming’s 14 Points [https://academy.astotz.com/courses/transformyourbusiness] * Achieve Your Goals [https://academy.astotz.com/courses/achieve-your-goals] CONNECT WITH ANDREW STOTZ: * astotz.com [https://www.astotz.com/] * LinkedIn [https://www.linkedin.com/in/andrewstotz/] * Facebook [https://www.facebook.com/andrewstotzpage] * Instagram [https://www.instagram.com/andstotz/] * Threads [https://www.threads.net/@andstotz] * X [https://twitter.com/Andrew_Stotz] * YouTube [https://www.youtube.com/c/andrewstotzpage] * My Worst Investment Ever Podcast [https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2]

David Siegel – The Agentic Economy: Why AI Agents Will Redefine Work and Wealth

BIO: David Siegel is a Silicon Valley entrepreneur who has founded more than a dozen companies. He has written five books on technology and business, was once a candidate for the dean of Stanford Business School, and is now an AI thought leader leading an AI startup he hopes will pave the way for the agentic economy. STORY: Nine months after David's last appearance on the podcast, the conversation has shifted from "what are LLMs?" to agents that act. 60-65% of NYSE trades are already fully machine-to-machine—a preview of where all commerce is headed. LEARNING: You don't need to know exactly how AI works, but you need to get in the game. > "The biggest investment mistake everyone is making right now is not appreciating the exponential nature of what we're in and what is coming. The next 12 months will be nothing like any 12 months that have ever happened in human history." > David Siegel > David Siegel [https://www.linkedin.com/in/david-siegel-9786582a7/] is a Silicon Valley entrepreneur who has founded more than a dozen companies. He has written five books on technology and business, was once a candidate for the dean of Stanford Business School, and is now an AI thought leader leading an AI startup he hopes will pave the way for the agentic economy. David joins the podcast for the fourth time and discusses his latest progress in AI with Andrew. THE HEALTH RESET BEFORE WE BEGIN Before diving into AI, David opened with an invitation that even Andrew found surprising: a free online water-fasting event starting on April 20, 2026, with a preliminary strategy session on April 12. What is a water fast? David explains that it's not a diet or a weight-loss tool; it's a physiological reset. For three to six days, your body enters ketosis and "cleans house," activating suppressed systems and energizing you. David does this three to four times per year, emphasizing it's not a monthly practice but a strategic reset aligned with your health journey. The coaching program makes fasting easier and more fun through group accountability, with no obligation, just information to help anyone at any point in their health journey. Learn about fasting, or just join a group of people doing the same thing at the same time. It's designed for people from the West Coast to Europe. Please register for the event and feel free to invite anyone: https://us02web.zoom.us/meeting/register/Tk-zp9ZERomWb0643Sypmw [https://us02web.zoom.us/meeting/register/Tk-zp9ZERomWb0643Sypmw]. THE AGENTIC ECONOMY: WHAT'S COMING IN 20 YEARS David's core message centers on a profound shift: we're entering the agentic economy, where machine-to-machine communication replaces human-to-website interaction. He notes that in 20 years, you won't shop on Amazon. There won't be advertising or marketing for humans. All those "Cialdini mind tricks" of urgency, storytelling, and Russell Brunson funnels will vanish. Everything will be machine-to-machine, just like the stock market today, where 65% of NYSE trades open and close in less than one second. Even driving will be prohibited because human reaction times cannot match the frequency of machine communication. We're in an awkward transitional period where humans and machines must coexist. Nobody likes it, but it's taking us toward a future where drudge work is automated. WHAT IS AN AI AGENT? David clarified a critical distinction that many miss: LLMs (Large Language Models) talk back, type responses, and generate images and videos—but don't do anything outside your interaction. AI Agent, on the other hand, is an LLM connected to APIs that can actually take action: send emails, order meals, book travel, make purchases, and run ads. Think of it as a virtual remote assistant working 24/7 while you sleep. OPENCLAW: THE FRAMEWORK POWERING THE REVOLUTION OpenClaw [https://openclaw.com/] (CLAW = agents, inspired by lobsters from a forward-thinking fiction book) is an open-source framework created by Peter Steinberger on GitHub. It connects LLMs (the thinking entities) to APIs (the conduits for doing). This is revolutionary because it allows AI to take real-world actions. Previously, AI was confined to conversation. It can now execute tasks across systems. David strongly warns that OpenClaw is highly technical and requires API configuration. It's not designed for humans to use directly. It's for engineers building agent infrastructure. THE SECURITY RISKS NOBODY IS TALKING ABOUT David explains that agents introduce entirely new cybersecurity vulnerabilities that differ from traditional threats, such as social-engineering attacks against agents. For instance, impersonation via spoofed emails: "David wants a trip to Phoenix, book a flight," or multi-day, persistent attacks in which bots repeatedly try to extract secrets. David's approach with Claw Studio is to use APIs rather than scraping. Wherever possible, he attaches LLMs to official APIs with guardrails. This is safer and more sustainable than screen scraping, which violates Terms of Service and risks a shutdown. HOW TO GET STARTED (WITHOUT BLOWING YOURSELF UP) David's advice is clear: Don't do it yourself. That's suicide. With great power comes great responsibility. An agent can do almost anything, including deleting its own installation, wiping your disk clean, or draining your bank account. You want it to do almost nothing initially, then gradually widen the guardrails. THE REDSHIFT LABS/CLAW STUDIO APPROACH: 1. Done-for-you setup like Red Hat for Linux 2. Dedicated Chief of Staff agent with its own phone number 3. Onboarding period of 1-2 weeks, where you download your life into the agent: 4. Birthday, family members' emails, and daily routines 5. It can research you online to build context. 6. Separate setups for personal and business 7. Forever memory, unlike standard LLM context windows that forget: 8. Every Zoom call transcript gets piped in word-for-word. 9. Searchable memory: "Who was I talking to about Tahoe skiing in November?" 10. Agent retrieves exact conversations and can follow up. 11. Reverse prompting—the paradigm shift: 12. Instead of you telling the agent what to do, it tells you. 13. Morning briefing: what happened overnight, what's coming up, what's changed 14. Manages your calendar, project management, and priorities 15. Breaks long-term goals into daily deliverables 16. You're no longer the to-do list keeper. 17. Security architecture: 18. Virtual Private Server (VPS) hosting, not local machines 19. Two-account system: one for operations, one for immutable backups 20. All logs are piped to a one-way backup account. 21. "Go back six hours" restore button, in case things go wrong. 22. Humans in the loop for critical actions (e.g., agent queues payments, human approves) THE BIGGEST INVESTMENT MISTAKE EVERYONE IS MAKING To conclude, David talked about the biggest investment mistake everyone is making right now: not appreciating the exponential nature of what we're in and what is coming. He noted that the next 12 months will be unlike any 12 months in business history. He stated that we're entering a recursive self-improvement phase, in which software will write the next generation of itself. The singularity isn't theoretical; it's happening now. David's advice is to stop thinking six months ahead. The pace is too fast. Instead: 1. Take baby steps to position yourself. 2. Prepare to accelerate like never before 3. Invest in agent infrastructure now, while it "doesn't suck too bad", it will only get dramatically better. ANDREW'S TAKEAWAYS 1. The transition period is awkward but temporary. Humans and machines must coexist for now, but we're heading toward a world where machines handle most drudge work, freeing humans for higher-level thinking. 2. API-based agents are safer than screen-scraping. While scraping demonstrates what's possible, it violates Terms of Service and is unsustainable. API integration with guardrails is the professional approach. 3. Forever memory changes everything. The ability to search through your entire life's conversations and have the agent permanently remember context transforms productivity and decision-making. 4. Reverse prompting is a paradigm shift. Moving from taskmaster to collaborator—where the agent manages you toward your goals—fundamentally changes how work gets done. 5. Exponential growth demands immediate action. Waiting to understand everything before starting means missing the wave. Begin with small, safe use cases and expand as capabilities mature. ACTIONABLE ADVICE 1. Start with simple use cases and expand gradually. Don't plan everything up front. Do your calendar, manage birthdays, and track expenses. Each month will reveal new possibilities. 2. Separate personal from business. Maintain firewall segregation between your personal Chief of Staff and business Chief of Staff. Each business unit can be compartmentalized under the business agent. 3. Think exponential, not linear. Most people underestimate the velocity of change ahead. Position yourself now to ride the wave rather than chase it later. 4. Humans in the loop for critical decisions. Agents can research, recommend, and prepare, but major financial commitments should require human approval via text or voice confirmation. NO. 1 GOAL FOR THE NEXT 12 MONTHS Claw Studio is David's primary focus. Listeners can explore resources at: 1. com [http://www.claw-studio.com/]: White-glove OpenClaw installation and configuration 2. io [http://www.redshiftlabs.io/]: Byron and other agent demonstrations David is producing video updates and executive briefings for companies, and a new PDF guide on getting started with OpenClaw is available on the website. To continue with his commitment to holistic performance, David is launching a longevity coaching program in April. [spp-transcript] CONNECT WITH DAVID SIEGEL 1. LinkedIn [https://www.linkedin.com/in/david-siegel-9786582a7/] 2. X [https://x.com/PullNews] 3. YouTube [https://www.youtube.com/@redshiftlabsonyoutube] 4. Website [https://www.redshiftlabs.io/reset] ANDREW’S BOOKS 1. How to Start Building Your Wealth Investing in the Stock Market [https://amzn.to/3qrfHjX] 2. My Worst Investment Ever [https://amzn.to/2PDApAo] 3. 9 Valuation Mistakes and How to Avoid Them [https://amzn.to/3v6ip1Y] 4. Transform Your Business with Dr.Deming’s 14 Points [https://amzn.to/3emBO8M] ANDREW’S ONLINE PROGRAMS 1. Valuation Master Class [https://valuationmasterclass.com/] 2. The Become a Better Investor Community [https://astotz.kartra.com/page/become-a-better-investor-community] 3. How to Start Building Your Wealth Investing in the Stock Market [https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market] 4. Finance Made Ridiculously Simple [https://academy.astotz.com/courses/finance-made-ridiculously-simple] 5. FVMR Investing: Quantamental Investing Across the World [https://academy.astotz.com/courses/fvmr-investing-quantamental-investing-across-the-world] 6. Become a Great Presenter and Increase Your Influence [https://academy.astotz.com/courses/gp] 7. Transform Your Business with Dr. Deming’s 14 Points [https://academy.astotz.com/courses/transformyourbusiness] 8. Achieve Your Goals [https://academy.astotz.com/courses/achieve-your-goals] CONNECT WITH ANDREW STOTZ: 1. astotz.com [https://www.astotz.com/] 2. LinkedIn [https://www.linkedin.com/in/andrewstotz/] 3. Facebook [https://www.facebook.com/andrewstotzpage] 4. Instagram [https://www.instagram.com/andstotz/] 5. Threads [https://www.threads.net/@andstotz] 6. X [https://twitter.com/Andrew_Stotz] 7. YouTube [https://www.youtube.com/c/andrewstotzpage] 8. My Worst Investment Ever Podcast [https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2]

Athena Brownson – What Happens When Trust Replaces Due Diligence

BIO: Athena Brownson is a Denver realtor, investor, developer, and former professional skier whose resilience through chronic illness fuels her refined, strategic, and client-focused approach to real estate. STORY: Athena lost $130,000 in her first development project when a builder she considered a friend vanished with the upfront funds. Her trust and incomplete due diligence led to a total loss, teaching her that personal relationships can create dangerous blind spots in business. LEARNING: Due diligence is non-negotiable. Trust is a liability. > “A simple conversation with someone that we know, like, and trust is invaluable, because they can point out to us the blind spots that we may have missed in our excitement.” > Athena Brownson GUEST PROFILE Athena Brownson [https://www.linkedin.com/in/athenabrownsonrealtor/] is a Denver realtor, investor, developer, and former professional skier whose resilience through chronic illness fuels her refined, strategic, and client-focused approach to real estate. WORST INVESTMENT EVER Athena Brownson entered her first development project with confidence and a seemingly dream team. With a 45-year veteran developer—her father—by her side, she felt prepared. She had saved diligently, owned the land, and chose a builder she’d known for three years, a dear friend’s business partner. After multiple interviews where her father asked all the right questions, they felt secure. They signed a contract and paid $130,000 upfront for site clearing, asbestos abatement, and foundation work. Initial excitement turned to unease as progress was glacial. A blue fence went up, and some abatement started, but then communication stopped. Phone lines went dead. Subcontractors began calling Athena directly, asking why they hadn’t been paid. The devastating truth emerged: the builder had vanished with the funds. Athena later discovered she was one of eight victims of the same scam. Despite her real estate expertise and her father’s decades of experience, they had been outmaneuvered by a trusted contact. LESSONS LEARNED 1. Due diligence is non-negotiable: Trust is not a replacement for verification. Athena’s key takeaway was the need for exhaustive due diligence: calling not just a few references, but a comprehensive list of past and current clients to hear the unfiltered story of their experiences. 2. Friendship clouds judgment: A personal connection created a dangerous blind spot. It made her and her experienced team less likely to probe aggressively or assume the worst, a bias scammers often exploit. 3. Assume the worst, hope for the best: The mindset must shift from “I trust you until you prove me wrong” to “Show me consistent, verifiable proof that you are trustworthy.” In business, healthy skepticism is a necessary form of self-defense. 4. Measure twice, cut once: This adage applies to money and contracts. Double and triple-check every detail, every claim, and every line item before funds change hands. ANDREW’S TAKEAWAYS 1. Money is life energy: Andrew referenced the classic book Your Money or Your Life, emphasizing that money represents hours of your life traded for it. Guarding it fiercely is an act of self-preservation. 2. Trust is a liability: Stories like Athena’s and others show that misplaced trust is a common thread in catastrophic losses. Systems and verification must replace blind faith. 3. Seek counsel, not confirmation: When making big decisions, actively seek advisors who will challenge you and point out blind spots, not just those who will validate your excitement. ACTIONABLE ADVICE Athena advises investors to do these three things when vetting any partner: 1. Demand a list of 10 past and current clients/vendors and call them all. Don’t settle for 2-3 curated references. Ask specific questions about communication, budgeting, and problem-solving. 2. Before major investments, formally run the deal by a small group of mentors or experienced peers whose explicit role is to find flaws and ask the tough questions you might be avoiding. 3. Impose a mandatory 48-72 hour “cooling-off” period between agreeing to a deal and signing or funding. Use that time to conduct the extra due diligence that your initial excitement may have skipped. ATHENA’S RECOMMENDATIONS Athena’s number one recommendation is to invest in mentorship and continuous education. Whether through formal coaching, podcasts, masterclasses, or peer groups, constantly feed your knowledge. She advocates for finding a community that provides both accountability and the ability to see your own blind spots, which are invisible to you alone. For her, this approach, ingrained from her athletic career, is pivotal for professional growth and risk mitigation. NO. 1 GOAL FOR THE NEXT 12 MONTHS Athena’s number one goal for the next 12 months is to deepen her impact by building a powerful, trusted referral network. She aims to serve more clients in building long-term wealth through strategic real estate and to expand her team. A core part of this mission is to pay forward the mentorship she received by guiding younger agents, helping them avoid the costly pitfalls she endured. PARTING WORDS > “Don’t make rash decisions. Take your time and know that the right thing is going to come into place at the right time.” > Athena Brownson [spp-transcript] CONNECT WITH ATHENA BROWNSON 1. LinkedIn [https://www.linkedin.com/in/athenabrownsonrealtor/] 2. Instagram [https://www.instagram.com/athenabrownsonrealtor_/] 3. YouTube [https://www.youtube.com/@athenabrownson2044] ANDREW’S BOOKS 1. How to Start Building Your Wealth Investing in the Stock Market [https://amzn.to/3qrfHjX] 2. My Worst Investment Ever [https://amzn.to/2PDApAo] 3. 9 Valuation Mistakes and How to Avoid Them [https://amzn.to/3v6ip1Y] 4. Transform Your Business with Dr.Deming’s 14 Points [https://amzn.to/3emBO8M] ANDREW’S ONLINE PROGRAMS 1. Valuation Master Class [https://valuationmasterclass.com/] 2. The Become a Better Investor Community [https://astotz.kartra.com/page/become-a-better-investor-community] 3. How to Start Building Your Wealth Investing in the Stock Market [https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market] 4. Finance Made Ridiculously Simple [https://academy.astotz.com/courses/finance-made-ridiculously-simple] 5. FVMR Investing: Quantamental Investing Across the World [https://academy.astotz.com/courses/fvmr-investing-quantamental-investing-across-the-world] 6. Become a Great Presenter and Increase Your Influence [https://academy.astotz.com/courses/gp] 7. Transform Your Business with Dr. Deming’s 14 Points [https://academy.astotz.com/courses/transformyourbusiness] 8. Achieve Your Goals [https://academy.astotz.com/courses/achieve-your-goals] CONNECT WITH ANDREW STOTZ: 1. astotz.com [https://www.astotz.com/] 2. LinkedIn [https://www.linkedin.com/in/andrewstotz/] 3. Facebook [https://www.facebook.com/andrewstotzpage] 4. Instagram [https://www.instagram.com/andstotz/] 5. Threads [https://www.threads.net/@andstotz] 6. X [https://x.com/Andrew_Stotz] 7. YouTube [https://www.youtube.com/c/andrewstotzpage] 8. My Worst Investment Ever Podcast [https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2]

Jon Ostenson – Top 10 Franchise Opportunities for 2026

BIO: Jon is the Founder and CEO of FranBridge Consulting, a 2-time Inc. 5000 company, and a leading franchise consultant. STORY: Jon believes franchising remains one of the most effective ways to build durable income, especially when investors focus on operational discipline and unit economics. He shares his top franchise categories for 2026. LEARNING: Look for businesses with repeat customers, operational discipline, proven unit economics, and leadership teams that have already made their mistakes. GUEST PROFILE Jon Ostenson [https://www.linkedin.com/in/jonostenson/] is the Founder and CEO of FranBridge Consulting [https://franbridgeconsulting.com/], a 2-time Inc. 5000 company, and he is a top 1% franchise consultant. Jon is also the author of the bestselling book, Non-Food Franchising [https://amzn.to/4pIDrzE]. Jon draws on his experience as a former Inc. 500 Franchise President and Multi-Brand Franchisee in helping his clients select their franchise investments. For many aspiring business owners, the biggest financial losses don't come from bad intentions. They come from underestimating complexity, overestimating scalability, or betting everything on an unproven idea. Jon Ostenson knows this lesson intimately. As the founder and CEO of FranBridge Consulting [https://franbridgeconsulting.com/] and franchise consultant, Jon has spent years helping entrepreneurs shortcut costly mistakes by investing in proven, non-food franchise models. In Episode 815: I Built a Million-Dollar Business That Never Made a Profit [https://myworstinvestmentever.com/ep815-jon-ostenson-i-built-a-million-dollar-business-that-never-made-a-profit/], he openly shared how he once built a million-dollar business that never made a profit. That experience now informs how he evaluates opportunities with discipline, structure, and risk control. Looking ahead to 2026, Jon believes franchising remains one of the most effective ways to build a durable income stream, especially when investors focus on operational discipline and unit economics. Below are his top franchise categories for 2026, and more importantly, why they help investors avoid the common traps that sink new businesses. WHY FRANCHISING CAN HELP INVESTORS AVOID BIG MISTAKES One of the most common investment errors is assuming passion alone will overcome operational complexity. Many entrepreneurs love an idea but underestimate the systems, staffing, pricing discipline, and capital required to make it profitable. Franchising addresses this risk by offering something rare: a business model with historical data. Instead of guessing whether pricing works or whether customers will pay, franchisees can examine real-world performance, talk to existing owners, and follow systems that have already survived market cycles, helping investors feel confident in demand-driven, structured opportunities. Jon emphasizes that franchising is not about eliminating risk. It's about trading unbounded risk for structured risk, supported by systems, training, and benchmarks. 1. COST MITIGATION CONSULTING: PROFITS WITHOUT PAYROLL Cost-mitigation franchises help small and medium-sized businesses reduce expenses by analyzing vendor contracts, utility bills, shipping costs, and other fees. Clients pay nothing up front and instead share a percentage of the savings. What makes this model compelling is its simplicity. There's no inventory, no employees required, and no large infrastructure investment. Franchisees focus on business-to-business sales while the franchisor provides analytical support and benchmarking tools. From an investment standpoint, this avoids two common mistakes: high fixed costs and overstaffing before revenue stabilizes. 2. FREIGHT BROKERAGE: LEVERAGING COLLECTIVE BUYING POWER Shipping costs remain a pain point for businesses, and freight brokerage franchises sit neatly between companies and major carriers like UPS, FedEx, and DHL. Rather than competing on price alone, franchisees act as trusted advisors, simplifying logistics and negotiating better rates using collective buying power. Technology and systems are already in place, preventing the trial-and-error phase that sinks many startups. This model rewards consultative selling skills while insulating owners from volatile commodity pricing. 3. DIGITAL BILLBOARD ADVERTISING: RECURRING LOCAL REVENUE Digital billboard franchises install advertising screens in high-traffic locations such as medical offices, oil change centers, and waiting rooms. The screens are free for host businesses, while advertisers pay for exposure. The appeal here lies in predictable recurring revenue and minimal staffing. Franchisees sell local advertising while the franchisor handles content delivery, technology, and procurement. It's a classic example of monetizing attention without carrying inventory or managing complex operations. 4. SENIOR FITNESS AND STRETCHING SERVICES: DEMOGRAPHICS AT WORK With thousands of Americans turning 65 every day, senior-focused services remain one of the strongest secular growth trends. One franchise Jon highlights provides on-site stretching and fitness programs inside senior living communities. Revenue is recurring, demand is non-discretionary, and the business directly improves quality of life. For investors, this reduces reliance on consumer whims and economic cycles. 5. HOME MOBILITY SOLUTIONS: AGING IN PLACE IS THE FUTURE Another senior-focused opportunity involves installing wheelchair ramps, stair lifts, and bathroom modifications to help seniors stay in their homes longer. Jon favors this franchise because the leadership team brings decades of industry experience, and market demand is structural rather than trendy. These services align closely with healthcare, reverse mortgages, and long-term aging trends. For investors, it's a reminder that boring, needs-based businesses often outperform exciting ideas. 6. PILATES STUDIOS: PREMIUM WELLNESS WITH PREDICTABLE REVENUE Pilates franchises continue to stand out as one of the strongest performers in the wellness space heading into 2026. Unlike trend-driven fitness concepts, Pilates benefits from longevity, broad demographic appeal, and a reputation for low-impact, high-value results. Clients range from young professionals to older adults focused on mobility, posture, and injury prevention. What makes this model attractive from an investment perspective is its membership-based recurring revenue and disciplined unit economics. Franchise systems have refined pricing, instructor certification, class capacity, and studio layout to maximise margins while maintaining quality. Jon highlights that these brands succeed not because fitness is exciting, but because their business models are structured, repeatable, and proven across multiple markets. For investors looking to avoid the mistake of underestimating operating complexity, Pilates franchises offer a clear framework for scaling without reinventing the wheel. 7. RECOVERY AND WELLNESS STUDIOS: RIDING THE LONGEVITY ECONOMY Recovery-focused wellness franchises are another category Jon believes will accelerate into 2026. These studios offer services such as cold plunges, infrared saunas, cryotherapy, compression therapy, and contrast bathing, all designed to support recovery, performance, and long-term health. Unlike traditional spas, these franchises position themselves as ongoing wellness memberships rather than one-off luxury visits. Customers come weekly, sometimes multiple times per week, creating predictable cash flow and strong client retention. Demand is driven by athletes, busy professionals, and aging consumers who prioritise longevity and preventative health. From an investment standpoint, these franchises succeed when operators follow disciplined rollout plans, resist overbuilding too quickly, and rely on franchisor-tested marketing and pricing strategies. Jon notes that many independent wellness studios fail not because the demand isn't there, but because owners misjudge costs, staffing, or market readiness, mistakes that strong franchise systems are designed to prevent. 8. MUSIC EDUCATION STUDIOS: COMMUNITY-BASED RECURRING INCOME Music lesson franchises create centralized spaces where instructors teach children and adults under a standardized curriculum. Parents are willing to invest in their children regardless of economic conditions, making this category resilient. The franchise advantage lies in marketing systems, scheduling technology, and curriculum design. Owners focus on community engagement rather than building everything from scratch. 9. TEEN DRIVING SCHOOLS: REGULATION MEETS OPPORTUNITY In many US states, formal driver education is required for teens to obtain a driver's license. Yet the market remains fragmented and unsophisticated. Franchised teen driving schools offer standardized training, vetted instructors, and strong brand trust. For parents, safety matters. For investors, regulation-backed demand provides stability. 10. PROPERTY SERVICES: FLOORING AND JUNK HAULING REINVENTED Jon closes his list with two property services franchises that stand out due to operational innovation. One refinishes hardwood floors in a single day without sanding. The other reimagines junk hauling by charging by weight rather than volume, dramatically improving margins. These businesses benefit from strong cash flow, fragmented competition, and clear differentiation. They also attract private equity interest, which supports higher exit multiples down the road. THE BIGGER LESSON: AVOIDING THE SAME INVESTMENT MISTAKES Across all ten opportunities, Jon's philosophy is consistent: 1. Don't chase novelty. 2. Don't underestimate complexity. 3. Don't assume growth equals profit. Instead, look for businesses with repeat customers, operational discipline, proven unit economics, and leadership teams that have already made their mistakes. Franchising doesn't guarantee success, but it dramatically improves the odds by replacing guesswork with structure. FINAL THOUGHT If there's one lesson Jon Ostenson's journey reinforces, it's this: the most expensive investment mistakes usually come from building alone. Learning from others' failures, using proven systems, and choosing businesses with real demand can mean the difference between surviving and thriving in 2026 and beyond. [spp-transcript] CONNECT WITH JON OSTENSON 1. LinkedIn [https://www.linkedin.com/in/jonostenson/] 2. X [https://x.com/Jon_Ostenson] 3. Facebook [https://www.facebook.com/JonOstenson1/] 4. YouTube [https://www.youtube.com/@JonOstensonFBC] 5. Book [https://amzn.to/4pIDrzE] 6. Website [https://franbridgeconsulting.com/] ANDREW’S BOOKS 1. How to Start Building Your Wealth Investing in the Stock Market [https://amzn.to/3qrfHjX] 2. My Worst Investment Ever [https://amzn.to/2PDApAo] 3. 9 Valuation Mistakes and How to Avoid Them [https://amzn.to/3v6ip1Y] 4. Transform Your Business with Dr.Deming’s 14 Points [https://amzn.to/3emBO8M] ANDREW’S ONLINE PROGRAMS 1. Valuation Master Class [https://valuationmasterclass.com/] 2. The Become a Better Investor Community [https://astotz.kartra.com/page/become-a-better-investor-community] 3. How to Start Building Your Wealth Investing in the Stock Market [https://academy.astotz.com/courses/how-to-start-building-your-wealth-investing-in-the-stock-market] 4. Finance Made Ridiculously Simple [https://academy.astotz.com/courses/finance-made-ridiculously-simple] 5. FVMR Investing: Quantamental Investing Across the World [https://academy.astotz.com/courses/fvmr-investing-quantamental-investing-across-the-world] 6. Become a Great Presenter and Increase Your Influence [https://academy.astotz.com/courses/gp] 7. Transform Your Business with Dr. Deming’s 14 Points [https://academy.astotz.com/courses/transformyourbusiness] 8. Achieve Your Goals [https://academy.astotz.com/courses/achieve-your-goals] CONNECT WITH ANDREW STOTZ: 1. astotz.com [https://www.astotz.com/] 2. LinkedIn [https://www.linkedin.com/in/andrewstotz/] 3. Facebook [https://www.facebook.com/andrewstotzpage] 4. Instagram [https://www.instagram.com/andstotz/] 5. Threads [https://www.threads.net/@andstotz] 6. X [https://twitter.com/Andrew_Stotz] 7. YouTube [https://www.youtube.com/c/andrewstotzpage] 8. My Worst Investment Ever Podcast [https://itunes.apple.com/us/podcast/my-worst-investment-ever-podcast/id1416554991?mt=2]