My Worst Investment Ever Podcast

Edwin Endlich – Early Doesn't Always Mean Right

BIO: Edwin Endlich is the Chief Marketing Officer of Wysh and President of the National Alliance for Financial Literacy and Inclusion. STORY: Edwin’s worst investment was buying Tilray stock at $143 during the early hype of legal cannabis investing. Swept up in the excitement of a “new frontier,” he held on as the price crashed—eventually selling at around 30 cents and losing over 99% of his investment. LEARNING: The fundamentals always apply, even in new or exciting industries. Don’t let hype replace due diligence.   > “We’re in this AI conversation, let’s not forget the fundamentals of the market. Learn from what has happened in this space before. And don’t get too cocky.” > Edwin Endlich   GUEST PROFILE Edwin Endlich [https://www.linkedin.com/in/edwinendlich/] is the Chief Marketing Officer of Wysh [https://www.wysh.com/] and President of the National Alliance for Financial Literacy and Inclusion [https://www.nafli.org/]. Edwin has spent his career at the intersection of marketing, fintech, and AI, helping financial institutions tell more human stories in an increasingly digital world. He’s passionate about making financial protection simple, accessible, and even a little more fun — proving you don’t need buzzwords or hype to make banking and technology relevant. WORST INVESTMENT EVER There’s nothing quite like the rush of feeling early—early to a trend, early to a movement, early to a once-in-a-lifetime opportunity. That’s precisely what Edwin felt in 2015–2016, when investing in legal cannabis became possible in parts of the United States. For the first time, regular people could invest in a newly legalized industry. It felt like history happening in real time, a frontier market ready to explode. Edwin and his friends didn’t want to miss out, especially when companies were going public, and their share prices seemed destined to skyrocket. One of those stocks was Tilray. At $143 a share, Edwin was convinced he was buying the future. He imagined stock splits, booming demand, and a cannabis empire rising from the ground floor. Instead, he watched that $143 tumble month after month, until he finally sold it for around 30 cents. The emotional rollercoaster of hope, disappointment, and finally acceptance was a journey Edwin will never forget. A 99.3% loss. He now calls it his worst investment—not just because of the financial hit, but because of how powerfully excitement and hype clouded his judgment. LESSONS LEARNED * Every investor thinks their situation is unique. But in reality, the same patterns repeat again and again. * Markets take time to mature. * Regulation can shift overnight. * Early doesn’t always mean right. * Excitement is not a strategy. ANDREW’S TAKEAWAYS * A portfolio isn’t just about diversification by industry or geography; it’s also about diversifying across stages of maturity. * Stable, well-regulated companies like Coca-Cola or Pepsi behave very differently from early-stage, hype-driven industries, such as the cannabis sector. * Even large companies, with teams of top analysts, often get it wrong. ACTIONABLE ADVICE If Edwin could offer one piece of advice to anyone starry-eyed over the next big thing, it would be this: Do your due diligence. Seriously. Before you invest in anything—especially something exciting, futuristic, or rapidly trending—slow down and ask: * Has this been done before? * What can I learn from past bubbles? * What does history say about similar innovations? * Am I investing in fundamentals—or feelings? Whether it’s cannabis in 2016 or AI in 2024, the pattern is the same. Booms become bubbles. Investors overestimate how fast an industry will mature. And emotion often wins over discipline. But with the right mindset and discipline, you can avoid these pitfalls. EDWIN’S RECOMMENDATIONS Edwin encourages people to empower themselves with real financial knowledge. That’s why he co-founded the National Alliance for Financial Literacy and Inclusion (NAFLI) [https://www.nafli.org/]—a nonprofit dedicated to helping individuals understand money, investing, and financial products. Whether you’re new to investing or leading a financial institution, NAFLI offers education, tools, and resources to help individuals make more informed financial decisions. NO.1 GOAL FOR THE NEXT 12 MONTHS Edwin’s goal for the next 12 months is to have a full, uninterrupted conversation with his daughter, one that lasts longer than 10 minutes and isn’t broken by phones, notifications, or distractions. Edwin wants to rebuild community and presence—starting at home. PARTING WORDS   > “Stay focused and look to the past.” > Edwin Endlich   [spp-transcript]   CONNECT WITH EDWIN ENDLICH * LinkedIn [https://www.linkedin.com/in/edwinendlich/] * Website [https://www.wysh.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]

Scott Alldridge – Hot Coffee, Cold Reality: The $10,000 Drone Delivery Mistake

BIO: Scott Alldridge is CEO of IP Services and President of the IT Process Institute, a bestselling author of the VisibleOps series, and a Certified Chief Information Security Officer. STORY: Scott’s worst investment was a stake in a startup promising to deliver hot coffee by drone. Excited by the futuristic idea, he invested before the concept was proven—but the project quickly crashed when the FAA banned drone deliveries and a prototype failed spectacularly. LEARNING: Being first doesn’t always mean being right. Due diligence is non-negotiable.   > “You don’t have to jump in. Being the first with the most doesn’t matter if it’s a bad idea—you’ll lose money anyway.” > Scott Alldridge   GUEST PROFILE Scott Alldridge [https://www.linkedin.com/in/scott-alldridge-1a976/] is CEO of IP Services [https://ipservices.com/] and President of the IT Process Institute [https://itpi.org/], a bestselling author of the VisibleOps series [https://amzn.to/3LHEkJn], and a Certified Chief Information Security Officer. He holds an MBA in cybersecurity and has over 30 years of experience in IT and cybersecurity leadership. Scott empowers organizations to achieve resilience through process excellence, Zero Trust, and AI-driven security. WORST INVESTMENT EVER If you live in the Pacific Northwest, coffee isn’t just a drink; it’s a way of life. Seattle is home to Starbucks, and in Oregon, coffee culture runs deep. So when Scott was pitched an idea that combined coffee and technology—delivering hot coffee via drone—he couldn’t resist. The concept sounded revolutionary: push a button on your phone, and a drone drops off your piping-hot Americano right at your doorstep. It felt like the future—part Amazon innovation, part TED Talk dream. Excited, Scott invested for a 3% stake in the startup. The founders promised a caffeinated empire built on convenience and cutting-edge tech. But just three months later, the buzz wore off. The FAA issued a cease-and-desist order on all drone delivery experiments, particularly those involving liquids. And then came the final straw: the company’s prototype drone spilled an entire cup of hot coffee mid-flight, grounding both the drone and Scott’s hopes. The “coffee drone revolution” turned into a $10,000 lesson in wishful thinking. Delivering hot coffee by drone was never going to fly—literally. LESSONS LEARNED * Being first doesn’t always mean being right. * It’s tempting to jump into the next big idea, especially when it sounds exciting and visionary. However, early-stage innovation carries significant risk, especially when the concept hasn’t been tested or proven. * Enthusiasm can cloud judgment. Instead of investing based on a slick pitch deck or futuristic concept, it’s smarter to wait until an idea is validated, tested, and compliant with regulations. ANDREW’S TAKEAWAYS * Every idea looks brilliant until reality—and regulation—show up. * Even in large corporations, where top analysts and executives lead multi-million-dollar mergers, success isn’t guaranteed. Only about 20% of them added value within three to five years. * Business is hard, and due diligence is non-negotiable. ACTIONABLE ADVICE Always do your due diligence. Before investing in any idea—no matter how exciting—slow down and dig deep: * Validate the concept. Is there a working prototype, or just a fancy pitch? * Check the regulations, especially if the business operates in a grey area (like drones or cannabis). * Assess the risk. What happens if laws, markets, or consumer behaviour change? * Stay patient. If it’s truly a good idea, it will still be good when it’s proven. SCOTT’S RECOMMENDATIONS Scott recommends his Amazon bestseller, Visible Ops Cybersecurity: Practical Ways to Enhance Your Cybersecurity Posture [https://amzn.to/47ntZed], which breaks down complex IT security concepts into real-world strategies that leaders can actually apply. For executives who don’t speak “tech,” he’s also written The Visible Ops Executive Companion Guide [https://amzn.to/47ntZLf], a concise 105-page edition with zero “geek speak”—just actionable guidance. And coming soon: Visible Ops AI: Artificial Intelligence Governance with Practical Guidance, where Scott explores how businesses can safely and responsibly integrate AI while protecting data integrity. NO.1 GOAL FOR THE NEXT 12 MONTHS Scott’s goal for the next 12 months is to double down on two things: growth and impact. On the business side, his goal is to expand the top-line revenue of his IT services firm and bring in new client partnerships. But there’s also a bigger mission driving him—making the world a safer place through smarter, more disciplined cybersecurity practices. PARTING WORDS   > “Thank you for having me today. Let’s keep the world a cyber-safe place.” > Scott Alldridge   [spp-transcript]   CONNECT WITH SCOTT ALLDRIDGE * LinkedIn [https://www.linkedin.com/in/scott-alldridge-1a976/] * Instagram [https://www.instagram.com/scottalldridge1/] * Facebook [https://www.facebook.com/scott.alldridge.24/] * Website [https://scottalldridge.com/] * Book [https://amzn.to/3LHEkJn] 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]

Dr. Thomas Powell – The One Rule You Must Never Break as an Investor (Even for Friends)

BIO: Thomas J. Powell, founder of The Powell Perspective™, is a seasoned entrepreneur, investor, and advocate for founders, bringing clarity, strategy, and resilience to leaders building at scale. STORY: Thomas invested $3.6M in a friend’s cannabis company, where he ignored his own due diligence framework. Because he skipped key governance protections and didn’t document alignment or exit terms, the investment became frustrating, hard to control, and nearly impossible to fix—proving that breaking your own rules is the most expensive mistake. LEARNING: Never mix friendship and business. Make sure both you and the founder are solving the same problem.   > “They say good fences make good neighbors, good documents keep good friendships.” > Thomas Powell   GUEST PROFILE Imagine navigating the high-stakes world of capital, strategy, and legacy with a guide who has raised billions and structured ventures worldwide. Thomas J. Powell [https://www.linkedin.com/in/thomasjpowell/], founder of The Powell Perspective™ [https://thepowellperspective.com/], is a seasoned entrepreneur, investor, and advocate for founders, bringing clarity, strategy, and resilience to leaders building at scale. WORST INVESTMENT EVER You’ve probably heard the saying, “Never mix friendship and business.” Thomas learned that lesson the hard way. His story starts with good intentions. When his kids’ grandmother battled breast cancer, cannabis was the only thing that eased her treatment side effects. So when medical marijuana became legal in a few US states, investing in the cannabis industry felt like the right thing to do. But here’s where things went wrong. A close friend brought him the deal, and because of that personal connection, Thomas skipped many of the due diligence steps he usually followed through his family office. No detailed governance clauses. No proper reporting framework. No accountability structure. It wasn’t a small investment either—about $3.6 million. As time went on, the cracks began to show. The company missed financial reports, accounting systems were weak, and when COVID hit, things only got messier. To make matters worse, taking over the business wasn’t even an option since he didn’t have a cannabis license. The emotional toll of this situation was significant, as Thomas had to face the reality of his investment failing due to trusting a friend blindly. The worst part? Having to look a friend in the eye, knowing he’d broken his own investment rules. LESSONS LEARNED * Verify alignment: Make sure both you and the founder are solving the same problem, and that you share the same exit goals. Ask questions like, “If someone offered to buy this company for $25 million today, would you sell?” If your answers don’t match, you’re not aligned. * Watch the hubris: Just because you’re smart or successful doesn’t mean you can see around every corner. Understand the legal and regulatory landscape before investing, especially in industries like cannabis, where compliance is complex. * Enforce accountability: Set clear reporting expectations from day one and include consequences for missed deadlines. Thomas admits that if his deal had stricter enforcement clauses, it would’ve saved him time, money, and frustration later on. ANDREW’S TAKEAWAYS * Many startups underpay themselves. It might sound noble, but it actually distorts valuation and creates problems later. * Make sure founders are paying themselves a market-rate salary. That way, when the business is valued or acquired, there are no nasty surprises about hidden costs. * Define roles clearly. Being a founder is different from being an employee. A salary compensates for your work; ownership rewards your risk. Mixing the two confuses things. ACTIONABLE ADVICE Align the capital and exit terms from day one—and write them down, even on a napkin. You don’t need a 30-page legal contract to start. Even a handwritten summary that defines the key terms, goals, and triggers for selling or exiting can prevent misunderstandings later. Because once the ink dries, or worse, once the money’s wired, it’s too late to wish you’d had that conversation. THOMAS’S RECOMMENDATIONS Thomas recommends these books, principles, and resources for smarter investing. * Read The Richest Man in Babylon [https://amzn.to/4oizUrb] – A timeless classic that teaches simple, lasting lessons about money management and investing in what you understand. * Invest in problems you understand. Don’t chase hype. If you know how an industry works, you’ll see both the risks and opportunities clearly. * Take advice from people with a “bigger pile.” In other words, learn from those who’ve already achieved more than you in that field. Theory is cheap—experience is priceless. * Use structured tools. Thomas’s Founders Office [https://www.founders-office.com/] provides frameworks that evaluate pitch decks for both founders and investors, helping you spot weaknesses and strengths before committing capital. NO.1 GOAL FOR THE NEXT 12 MONTHS Thomas’s goal for the next 12 months is to expand his Founders Office [https://www.founders-office.com/] cohort program, connecting entrepreneurs and investors to create better capital alignment. He’s passionate about free enterprise and founder advocacy, believing that capitalism—done right—can lift people out of poverty and fuel innovation worldwide. Whether in the US, Europe, or Sub-Saharan Africa, his mission is the same: empower founders and investors to build lasting, ethical wealth together. PARTING WORDS   > “Learn from other people’s experiences. When you see someone make a mistake, don’t repeat it because we don’t learn from the wins, we learn from the failures.” > Thomas Powell   [spp-transcript]   CONNECT WITH DR. THOMAS POWELL * LinkedIn [https://www.linkedin.com/in/thomasjpowell/] * Instagram [https://www.instagram.com/dr.thomasjpowell/] * Website [https://thepowellperspective.com/] * Master Class [https://www.6secretsraisingcapital.com/masterclass] 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]

Dan Novaes – The Treasury Strategy That Cost $100 Million

BIO: As Co-Founder & CEO of Mode Mobile, Dan Novaes is leading the transformation of how people interact with technology. His “Earn As You Go” software empowers millions of consumers to turn daily habits into passive income. STORY: Dan decided to take the bold move of turning his treasury into a long-term crypto strategy. What started as $2 million in Bitcoin and Ethereum ballooned to $30 million, but the 2022 crash and business pressures forced him to liquidate at low prices—missing out on what could have been a $100 million windfall. LEARNING: Don’t chase aggressive expansion without a clear path to profitability. Stick to your core business. Separate your business from speculative bets.   > “Everyone has a plan until they get punched in the face. Take a moment of deep thinking every week when things are going well, think about everything that could go wrong, and then reassess your position.” > Dan Novaes   GUEST PROFILE As Co-Founder & CEO of Mode Mobile [https://invest.modemobile.com/regs], Dan Novaes [https://www.linkedin.com/in/danielnovaes/] is leading the transformation of how people interact with technology. His “Earn As You Go” software empowers millions of consumers to turn daily habits into passive income. Under his leadership, Mode achieved 32,481% revenue growth from 2019 to 2022 and ranked #1 in Software on Deloitte’s Technology Fast 500 in North America. WORST INVESTMENT EVER In today’s rapidly evolving and highly interconnected business world, companies are increasingly relying on external partnerships to drive growth and innovation. Dan’s story begins in the early days of crypto. His company had raised funds through Bitcoin and Ethereum when Bitcoin was valued at just a few thousand dollars and Ethereum at only a few hundred. This early success in the crypto market was a testament to the potential for significant growth that these investments could bring. Once the business had a comfortable runway, Dan made a bold move—he turned their treasury, which is the accumulated profits and cash reserves, into a long-term crypto strategy, much like what companies like MicroStrategy would later become known for. RIDING THE WAVE At first, the decision looked genius. That $1–2 million ballooned into $30 million. Dan was on CNBC, celebrating as Bitcoin crossed $10,000, and his company seemed unstoppable. They never had to fundraise again—until the 2022 crash. THE CRASH In 2022, Bitcoin’s price fell from $63,000 to $18,000, and pressure mounted. Compounding the pain, many of Dan’s advertising partners went bankrupt, leaving unpaid bills. This was a significant blow to the company’s financial stability. To survive, Dan’s company had to liquidate almost the entire treasury at depressed prices. Had Dan managed his growth and financials more cautiously, that crypto position could have grown to $100 million or more. Instead, he walked away with far less—and a bitter lesson. LESSONS LEARNED * Growth at all costs is dangerous. Chasing aggressive expansion without a clear path to profitability can leave your company vulnerable when market conditions shift. * Profit-taking matters. Riding the wave without ever securing gains turned paper wealth into a forced liquidation. * Stick to your core business. * Discipline is everything. Not letting market euphoria dictate strategy is critical to long-term survival. ANDREW’S TAKEAWAYS * Separate your business from speculative bets. Don’t gamble with your excess cash on foreign exchange trades. Instead, hedge your risks because trading currencies isn’t your core business. * Have cash discipline for survival through decades of ups and downs. * Guard your cash, respect your core business, and don’t confuse speculative opportunities with sustainable operations. ACTIONABLE ADVICE Take time every week for deep thinking. When things are going well, take a moment to ask: What could go wrong? By slowing down and imagining worst-case scenarios, you can prepare contingency plans before you get “punched in the face” by reality. This proactive approach to risk management will keep you prepared for any eventuality. DAN’S RECOMMENDATIONS Dan recommends building the habit of scheduled deep thinking. Carve out one or two hours weekly—whether it’s through running or quiet reflection. The practice isn’t just for investing; it sharpens decision-making across life and business. NO.1 GOAL FOR THE NEXT 12 MONTHS Dan’s goal for the next 12 months is to double revenue and triple EBITDA through acquiring and growing new businesses. It’s a bold target, but one grounded in the hard lessons of the past. This time, growth will come with more balance, more discipline, and a stronger focus on sustainability. PARTING WORDS   > “Thank you for having me. Feel free to reach out.” > Dan Novaes   [spp-transcript]   CONNECT WITH DAN NOVAES * LinkedIn [https://www.linkedin.com/in/danielnovaes/] * Website [https://invest.modemobile.com/regs] 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]

Dr. Gilbert Guzman – The $1M Lesson I Learned by Not Launching My Startup

BIO: Dr. Gilbert  A. Guzmán is a business strategist and systems thinker. He is the founder of IntraQ AI, a SaaS solution designed to eliminate knowledge gaps within the workplace, and the author of Atomic Impact: Systems for Transformative Productivity. STORY: In 2012, Gilbert  envisioned a portable charger vending system for airports, universities, and theaters—a “Redbox for power.” He over-engineered, over-researched, and waited for “perfect”—while another company launched the same concept. By the time he moved, they dominated airports with a first-mover advantage. LEARNING: Jump in and get things going. Don’t be afraid to fail. Iterate, and get your product to market.   > “Don’t be afraid to iterate. Maintain the course, and you’ll see your product through.” > Dr. Gilbert A. Guzmán   GUEST PROFILE Dr. Gilbert A. Guzmán [https://www.linkedin.com/in/gilguz/] is a business strategist and systems thinker. He is the founder of IntraQ AI [https://www.intraqai.com/landing], a SaaS solution designed to eliminate knowledge gaps within the workplace, and the author of Atomic Impact: Systems for Transformative Productivity [https://payhip.com/b/0OAhP], which you can get for free using the code: Stotz. With a doctorate in business and experience leading large teams, he helps organizations boost productivity through practical systems built for real-world constraints. His work bridges people, data, and technology for lasting operational success. WORST INVESTMENT EVER In 2012, Gilbert  envisioned a portable charger vending system for airports, universities, and theaters—a “Redbox for power.” Users would rent charged batteries and return them to kiosks for reuse. Ironically, Gilbert is a very impatient man, but when it comes to business ideas, he takes his sweet time, sometimes too long. This is exactly what happened with the portable charger idea. Gilbert over-engineered, over-researched, and waited for “perfect”—while Fuel Rod launched the same concept. By the time he moved, they dominated airports with a first-mover advantage. He invented the wheel but didn’t roll it. LESSONS LEARNED * Jump in, do what you need to do, stay up late, work hard, do the research, and get things going. Ultimately, everything will come to fruition. * Manage your risks. * You can earn back cash, but you can’t earn back lost time. * In startups, a bad launch always beats no launch. Waiting for no flaws means 100% flaw: no product. * You can’t be a risk-averse leader. ANDREW’S TAKEAWAYS * MVPs beat masterpieces because if you’re not embarrassed by the first version of your product, you launched too late. * The market doesn’t care who invented a product—it cares who shipped it. ACTIONABLE ADVICE * Don’t be afraid to fail. Iterate, get your product to market, and find out if it makes sense and is relevant. * Don’t get scared of the big names, the Googles of the world, and think that they will crush you. * You don’t have to be horizontal. You can go vertical. You can find a niche and dedicate your time to it. GILBERT’S RECOMMENDATIONS Gilbert recommends his e-book Atomic Impact: Systems for Transformative Productivity [https://payhip.com/b/0OAhP] (remember to use code Stotz for a free copy). He also recommends visiting his website [https://atomicimpactbook.com/] for additional resources. Additionally, reading Edwards Deming’s Out of the Crisis [https://amzn.to/4mFqNiH] can help you apply systems thinking to your personal and work life, ultimately changing the way you view life, society, and work, and becoming a little more solution-oriented. NO.1 GOAL FOR THE NEXT 12 MONTHS Gilbert’s goal for the next 12 months is to further enhance the success of Atomic Impact [https://payhip.com/b/0OAhP] and IntraQ AI [https://www.intraqai.com/landing] by creating speaking engagements and workshops that will reinvigorate the concepts he has developed and transform the way people work. PARTING WORDS   > “I appreciate you having me on, Andrew. It’s been a pleasure. I look forward to the future. Go split some atoms.” > Gilbert   [spp-transcript]   CONNECT WITH DR. GILBERT GUZMAN * LinkedIn [https://www.linkedin.com/in/gilguz/] * Podcast [https://open.spotify.com/show/1ZwLNaGimfgjxLEHc3EQlH?si=d7808ad5b5cc447e] * YouTube [https://www.youtube.com/@Dr.Guzman] * Blog [https://atomicimpactbook.com/]  * Website [https://www.compoundingquality.net/] * Books [https://atomicimpactbook.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]