Show notes
Practice makes perfect, right? We get frustrated when we fail but in the moment, we don't always understand that failures can be your best teacher. It’s important to be open-minded and have a growth mindset to learn from failures so they aren’t repeated. Tune in to hear about the lessons Tom has learned from failing and how he overcame them. Highlights 01:01 Importance of learning from failures and how it applies to financial life 02:17 Examples from baseball players Babe Ruth and Ty Cobb and how their successes and failures highlight the importance of taking risks and learning from mistakes 04:49 The hierarchy of wealth, investing, and relationships with financial teams 06:15 Personal anecdote of a failed investment and lessons learned 09:14 Importance of understanding the purpose of your investment and how it fits into your overall strategy 11:44 Investigate the investment team and perform background checks on leadership 14:04 Speak to previous investors on their experiences working with the team 17:11 Consider the extended team and vendors associated with the investment group 18:20 Seek opinions from your personal network of advisors to gain objective insights on potential investments 20:03 Tom’s personal investment experience in bankruptcy and the importance of due diligence 20:40 Importance of taking time to plan and reduce risk in investments and personal finances Episode Resources Connect with Tom Suvansri https://perennialpride.com/ https://www.facebook.com/perennialpride/ https://twitter.com/perennialpride https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA Call to Action Schedule a Call with Tom How to Listen: Subscribe on Youtube Listen on Spotify
