My Worst Investment Ever Podcast

Chris Trikomitis – Appreciate What You Have Rather Than Chasing What You Don’t


Listen Later

BIO: Chris Trikomitis has an array of experience from the investment banking sector in London and the US and working in financial services for over 17 years. Chris is currently a coach, investor, and entrepreneur.

STORY: Chris met a group that was in the restaurant business. They dined him in different restaurants seducing him into the good life. Chris wanted a piece of this lifestyle, and so he invested in a restaurant. Unfortunately, he did not have the skills and experience necessary to run a restaurant, so the business failed.

LEARNING: Keep your lifestyle simple, stick to what you are good at, and test theories first before investing in them.

 

“You can earn the lifestyle you want by being cautious, investing a bit more carefully, and doing your research.”

Chris Trikomitis

 

Guest profile

Chris Trikomitis is in particularly high demand and is often requested to give informative and motivating keynote speeches at local and international events worldwide. Chris has an array of experience from the investment banking sector in London and the US, as well as working in financial services for over 17 years. Now a coach, investor, and entrepreneur, Chris’s background ranges from developing competitive business strategy, sales, marketing, and he has been instrumental in growing various businesses.

Worst investment ever

Chris mainly focuses on financial investments, but he once decided to go into physical investments.

Getting dined and wined into investing

Chris invested in a restaurant and a co-working space after getting wined and dined from morning to night in different locations owned by the same group. The group totally sold him on the lifestyle, and after that, he invested in the program.

Chris bought a restaurant and added a co-working space. The idea was to get the co-working space to pay for the rent and the restaurant to make the profit. Then he would use both businesses to give people the opportunity to have a quiet place to work. They’d also get the chance to take advantage of some of his food by providing free credits, which would then encourage them to buy more.

Getting the work done

The idea of owning a restaurant was very seducing to Chris. When he got down to it, he looked at things more from a consumer perspective than an actual investor. When it came down to doing the real work, Chris quickly realized he didn’t have the experience or skills needed to run a restaurant.

Time to fold

Chris found himself injecting his own money into the restaurant because it was not making enough to cover the costs. He tried different marketing ideas, but nothing seemed to work. Chris knew that he did not want to keep investing in the restaurant in the long term. So eventually, it just hit that maybe he should just call it a day and focus his time on something that could generate more income.

Lessons learnedStick to what you are good at

Stick to what you are good at, and don’t get carried away so easily. This does not mean you can’t gain that lifestyle you desire, just invest more wisely and don’t shift too far away from what you’re good at.

Andrew’s takeawaysTest your theories

The key to success in business is figuring out how to test your theories without requiring a lot of money.

Keep your lifestyle simple to avoid falling for bad investments

Keep your lifestyle simple, and be careful not to be seduced into bad investments in a bid to live an expensive lifestyle.

Actionable advice

Appreciate what you have.

No. 1 goal for the next 12 months

Chris’s number one goal for the next 12 months is to build a solid foundation for his company.

Parting words

 

“Always take a step back before you make a decision. Think about it from an all-round perspective, not just with your heart.”

Chris Trikomitis

 

[spp-transcript]

 

Connect with Chris Trikomitis
  • LinkedIn
  • Facebook
  • Twitter
  • Website

Andrew’s books
  • How to Start Building Your Wealth Investing in the Stock Market
  • My Worst Investment Ever
  • 9 Valuation Mistakes and How to Avoid Them
  • Transform Your Business with Dr.Deming’s 14 Points

Andrew’s online programs
  • Valuation Master Class
  • How to Start Building Your Wealth Investing in the Stock Market
  • Finance Made Ridiculously Simple
  • Become a Great Presenter and Increase Your Influence
  • Transform Your Business with Dr. Deming’s 14 Points

Connect with Andrew Stotz:
  • astotz.com
  • LinkedIn
  • Facebook
  • Instagram
  • Twitter
  • YouTube
  • My Worst Investment Ever Podcast

...more
View all episodesView all episodes
Download on the App Store

My Worst Investment Ever PodcastBy Andrew Stotz

  • 4.9
  • 4.9
  • 4.9
  • 4.9
  • 4.9

4.9

62 ratings


More shows like My Worst Investment Ever Podcast

View all
WEALTHTRACK by Consuelo Mack

WEALTHTRACK

267 Listeners

Money Tree Investing by Money Tree Investing Podcast

Money Tree Investing

645 Listeners

The Meb Faber Show - Better Investing by The Idea Farm

The Meb Faber Show - Better Investing

934 Listeners

Behind the Markets Podcast by Behind the Markets

Behind the Markets Podcast

105 Listeners

The Rational Reminder Podcast by Benjamin Felix, Cameron Passmore, and Dan Bortolotti

The Rational Reminder Podcast

429 Listeners

Bogleheads On Investing Podcast by bogleheads

Bogleheads On Investing Podcast

581 Listeners

The Long View by Morningstar

The Long View

851 Listeners

Sound Investing by Paul Merriman

Sound Investing

329 Listeners

Excess Returns by Excess Returns

Excess Returns

67 Listeners

The Grant Williams Podcast by Grant Williams

The Grant Williams Podcast

1,348 Listeners

Risk Parity Radio by Frank Vasquez

Risk Parity Radio

228 Listeners

The Business Brew by Bill Brewster

The Business Brew

245 Listeners

Wealthion - Be Financially Resilient by Wealthion

Wealthion - Be Financially Resilient

384 Listeners

The Long Term Investor by Peter Lazaroff

The Long Term Investor

130 Listeners

Thoughtful Money with Adam Taggart by Adam Taggart | Thoughtful Money

Thoughtful Money with Adam Taggart

364 Listeners