Ep592: Keith Johns – Don’t Let FOMO Push You into Investments
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Quick take
BIO: Keith Johns helps corporate leaders who are feeling stuck in their 9-5 break free from corporate by building and scaling a purpose-driven business.
STORY: Keith came across two Facebook marketing programs and bought them for five figures because he didn’t want to miss out. He only had time to implement one of the programs. He is yet to implement the second one to date.
LEARNING: Don’t let the fear of missing out (FOMO) push you to do something before you’re ready. Don’t let emotions or flawed thinking affect your investment decision.
“Pay attention to your emotional state when investing.”
Keith Johns
Guest profile
Keith Johns helps corporate leaders who are feeling stuck in their 9-5 break free from corporate by building and scaling a purpose-driven business. Keith believes you’re not crazy for wanting more, and you can have more purpose, freedom, income, and free time in your work.
Worst investment ever
Keith quit his job to start a coaching business. When he was ready to diversify where he marketed his services, he invested in two Facebook marketing programs. Keith bought the two programs for five figures.
It was only after he paid for the programs that he realized he had made an emotional decision out of fear of being left out. Now he didn’t have the time to integrate two Facebook systems simultaneously. One program is still lying somewhere on the back burner, unimplemented.
Lessons learned
- Pay attention to your emotional state when investing.
- Before you invest, have a plan. Consider talking to someone with more experience who can help you navigate those waters more successfully.
- Don’t be in a hurry to invest in anything you don’t understand. There will always be plenty of entry opportunities at different moments.
- Don’t let the fear of missing out (FOMO) push you to do something before you’re ready.
Andrew’s takeaways
- Don’t let emotions or flawed thinking affect your investment decision.
Actionable advice
The minute you’re inspired, have an idea, or are excited about something, share that excitement so somebody else knows what you’re up to.
Keith’s recommended resources
Read Questions Are the Answer: A Breakthrough Approach to Your Most Vexing Problems at Work and in Life more at ease and more comfortable knowing I don’t have to have all the answers, but I could be the most effective person in the room if I listen better and ask better questions.
No.1 goal for the next 12 months
Keith’s number one goal for the next 12 months is to take his business, get it running and then leave other people to run it so he can have time to do other things.
Parting words
“I really appreciate the time. If anyone’s interested in contacting me, I’m on LinkedIn, reach out and say hi; I’d love to have a conversation.”
Keith Johns
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Connect with Keith Johns
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
- The Become a Better Investor Community
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- Best Business Book Club
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points
Connect with Andrew Stotz:
About the show & host, Andrew Stotz
Welcome to My Worst Investment Ever podcast hosted by Your Worst Podcast Host, Andrew Stotz, where you will hear stories of loss to keep you winning. In our community, we know that to win in investing you must take the risk, but to win big, you’ve got to reduce it.
Your Worst Podcast Host, Andrew Stotz, Ph.D., CFA, is also the CEO of A. Stotz Investment Research and A. Stotz Academy, which helps people create, grow, measure, and protect their wealth.