P16: Making Millions in Profits… to Waste it ALL in the Investing World 🌍 (🔐 a Continuation of EP 178🔓)
Video & Audio of Our Call:
Background:
Rob Rawson is the Founder of Time Doctor. He walks us along the mistakes he made in the investing world… After he made millions in profits… & How he wasted it all…
Rob Rawson is originally from Sydney, Australia and he is the founder of TimeDoctor.com and Staff.com. He had a number of startups such as an online mapping site, a myspace profiling site, a limousine directory, travel websites, an online advertising agency, an online search engine optimization agency, a competitor to WhatsApp, and a site designed to train individuals to improve their lie detection skills. Rob also has extensive experience in real estate.
Time-Stamped Show Notes:
- [0:57] Being a Warren Buffett fan, Rob thought he was a good investor.
- [3:41] Just before the financial crisis of 2008, Rob invested money on stocks that he thought were good.
- [4:25] According to Rob, buying a stock is like buying a company, because you have to spend a lot of time researching and studying the company before you buy it.
- [7:06] Diversifying is another critical investment mistake that Rob made. This mistake cost him $600,000.
- [9:47] Investing in Japan stocks also did not turn out great for Rob.
- [10:42] Rob believes that it is easier to make money on business than to make money on investments.
- [13:25] During the 2008 financial crisis, Rob decided to do real estate investment in the US. He was not lucky with choosing his business partners.
- [20:16] He used ads to look for partners in the real estate business.
- [24:16] There are several things Rob would do in his real estate business if he can do it all over again.
- [26:55] He shares his future plans in terms of investments and real estate.
- [28:54] Buying a software business in Australia proved to be another bad move for Rob.
- [33:30] The guy who stole a huge amount of money from Rob got him so mad and stressed out.
- [35:19] Rob emphasizes on being very safe and conservative when it comes to buying a business and investing your money.
Fabulous 4 Questions:
- 📖📚 Favorite Book(s)? Lifespan by David Sinclair
- 🙌😎 Favorite Amazon.com purchase? Google Wifi
- 🌱💸 Favorite Tool that's GROWN your Business? Breezy HR, applicant tracking system with video interviews
- 💭💡 BIGGEST Challenge keeping your Business from GROWING? Finding scaleable, repeatable marketing methods
Key Point from the Interview:
- “I was a Warren Buffett fan so I thought I was a good investor because I was reading so much about investment. I was getting into his philosophy and he is the best investor in the world. One of the best five, at least, investors in the world, he’s incredible. So I started to get this ego like I was good at investing but I didn’t really follow everything that he says and the number one thing is don’t lose money, and then number two is don’t lose money.”
Secret Resources:
