Mike Matoney has been the CEO of New Directions for the past 7 years, and also the CEO of Crossroads & Beacon Health for the past 23 years in Cleveland, Ohio. Mike did his undergraduate and graduate MBA studies at Cleveland State University, focusing on Marketing and Quality Improvement as his primary field of study. He began his career as a supervisor at Huron Road Hospital in 1985 and eventually worked his way up through the industry to his current positions.

This episode tells a type of the worst investment... investment of time. Hear Mike’s relational investment story, how being in a relationship of convenience shattered his self-esteem and self-worth.

“You’ve got to act your way into better thinking. Rather than think your way into better action.”

-Mike Matoney

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Resources:

My Worst Investment Ever Book

https://www.myworstinvestmentever.com (myworstinvestmentever.com )

Topics Covered:

02:00 – Andrew shares his 35-years friendship with Mike and how they met in the rehab facility, Mike being his counselor

02:51 – Mike shares his level of relational investment experience

03:32 – The circumstances that lead to Mike’s worst relational investment experience: Being in an on-off relationship with a girl for two years, with 8 breakups at the age of 16.

06:25 – Mike’s valuable learning from his experience and the impact it brought to his life

07:00 – Andrew summarizes the critical learning point from Mike’s experience

09:26 – Mike’s actionable steps for people to protect their investment of time in relationships

09:16 – Importance of investment risk management

Main Takeaways

Lesson 1: Listen. When things aren’t right sometimes we do not open doors to it. We do not listen to the feedback of the people outside our relationship. It is important that we listen and be aware of how your relationship is molding us as a person. We need to acknowledge our position before we get lost in our emotion and eventually making us lose our self-worth.

Lesson 2: Self-esteem is important. The sense of self-worth and self-respect to keep any relationship. These attitudes stem from your adherence to judgments and values. People with a great sense of self-respect see themselves as worthy and deserving of happiness. It is important that you know your worth before you start investing your time and emotion to any relationship.

Lesson 3: Overcome your fear. Acknowledge the fear or the insecurity and invite someone in whom you trust and cares about your well-being. They can really become their sage and kind of help you through. It is a matter of staying open, acknowledging your insecurities, your fears and staying open not staying closed.

You can also check out 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

Connect with Mike Matoney:

https://www.linkedin.com/in/mike-matoney-074039b/ (Linkedin)

https://www.facebook.com/michael.matoney (Facebook)

https://twitter.com/MMatoney (Twitter)

Connect with Andrew Stotz:

https://www.astotz.com/ (astotz.com)

https://www.linkedin.com/in/andrewstotz/ (Linkedin)

https://www.facebook.com/andrewstotzpage (Facebook)

https://www.instagram.com/andstotz/ (Instagram)

https://twitter.com/Andrew_Stotz (Twitter)

https://www.youtube.com/c/andrewstotzpage (Youtube)

My Worst Investment Ever Podcast