On this episode of The Prosperity Perspective, host Liam Leonard talks with a guest several time zones away: on the other side of the ocean. But though Stewart Townsend lives in England, the struggles of dealing with home life events and what seem to be major investment disasters is quite the same.
Join their discussion today about how Stewart realized the hard way that entrepreneurial life is not all flowered shirts and successful furniture companies, and learn how Stewart grew the mentality to see failure as simply a learning block. Ultimately, Stewart will use his life examples to tell you why you shouldn’t let the bright lights blind you and instead examine the investment risk’s impact on your family and friends first to ensure a longtime, successful financial station.
3 Key Takeaways:
Why you should examine your age and a new investment’s future projection before signing on.
What it really means to pay your due diligence before investing in something foreign to you.
The importance of examining a new risk’s impact on your family and friends first above all else.
[3:57] Key question: what Stewart invests in now that he’s financially stable
Stewart’s divorce and being safe with his money
Owning fast cars
Supporting his wife’s school because it was the right thing to do
[7:03] Embarking on a different investing journey following his first “failures”
More about keeping cash and looking for the right thing to put it into
[7:43] The Charitable aspect of investing
Fulfilment and reward as value over money
[9:02] A few other investments made after he secured the house and car
Rental properties at the start
Investing in retail because it was something different
“I just realized that this is not the place to be. I can’t bring any of my skills to it...That was a painful experience.”-Stewart Townsend
How he got out of a business he invested a lot in, knowing that it wasn’t going to work
[14:14] “I realized that failure is not a bad thing. You learn.”-Stewart Townsend
[15:20] The next big thing Stewart did after the furniture store
Using light technology to monitor cannabis plants
Being caught by the bright lights and getting close to an investment before losing it
Betting on technology as a dangerous area to go into
[19:25] Coming out of investments that didn’t work and paying his due diligence
Stewart as very cautious, studying the numbers and market first
Keeping equity and capital in mind
Asking “What is the risk to me? If I put some money in or time...what is the impact to me? Does it mean that I’m going to have to work until I’m 70, or does it mean ‘No, it’s fine if something goes wrong, I’ll learn from it but it’s not a massive impact on my financial status moving forward?'" -Stewart Townsend
[22:08] Why Stewart’s expectation of return remains the same
It’s really about the risk
Risk is based on your age and that learning potential
[24:18] The one piece of advice Stewart leaves for his audience
Are you going to go all in or not? And how will that impact your family?
Reflect on what the impact is on you, your friends, and your family
If it looks too good to be true, it is
About Stewart Townsend:
Stewart Townsend has had a unique business life experience, beginning his career working for two corporations. While his positions were fruitful, Stewart realized that even though corporate is easier, he wanted to invest in his entrepreneurial side.
Stewart then moved to invest in two startups, both risky, and both of which ended up failing in the long game. But instead of focusing on the failure, Stewart decided to see his failures as learning potential, continuing his investment journey but with more research and future-minded framing. Stewart learned to let the less-ideal business situations slide off his back, mindfully working through life’s struggles such as divorce and friendships lost to become the successful businessman he is today as part founder of two different businesses and owner of a major consultancy for sales.
Connect With Stewart Townsend:
Connect with The Prosperity Perspective Podcast: