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My Worst Investment Ever Podcast - Andrew Stotz 25th May 2021
Chris Trikomitis – Appreciate What You Have Rather Than Chasing What You Don’t
00:00:00 00:20:05

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

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 learned

Stick 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 takeaways

Test 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

 

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