Manit Parikh – Made a Million by 24, Lost a Million by 26

Manit Parikh has worked across sectors on transformational programs with organization-wide impact, leading two companies to reach US$300 million in revenue. He is currently working with number three. This has led him to earn the nickname “The Michael Bay of Business”. Manit is working with Yellow as a director of investment and head of the business. Prior to Yellow, Manit has worked with leading Fortune 500 companies in leadership positions. Along with his current position at Yellow, he is also an advisor to various start-ups’ early-stage investors and an international keynote speaker. “Suddenly, a boy who made a million dollars just saw a million dollars go away. And I think that is when I really truly learned the value of hard-earned money and not being greedy, and actually analyzing everything to the core.”  - Manit Parikh    Lessons learned  Analyze and study the business you are planning to invest in.  Don’t be “cocky”, arrogant.  Ask the right questions, ask the wrong questions, but ask them. Why? Because every question brings an answer that raises another question that needs to be asked.   Never be afraid to say “no” to investment, because there are many more out there.  One occasion of success investing with one person or company is no guarantee that they can or will make you money again.   Analyze every facet of a business model, tear it apart and ask every possible question from the founders, because they are the ones asking for money.    Andrew’s takeaways  Andrew has gleaned from the Worst Investment Ever series of podcasts and blogs six main categories of mistakes made by respondents, starting from the most common:   Failed to do their own research  Failed to properly assess and manage risk  Were driven by emotion or flawed thinking  Misplaced trust  Failed to monitor their investment  Invested in a start-up company    Referring to Start-up businesses are usually very risky, so you have to be very careful about having anything to do with them.   Never be the sole creditor for a start-up. When you are the sole provider of funds or the start-up has very limited sourcing for the fund, the company can run out of cash quickly, and the company becomes desperate. <span data-ccp-props=...