Matt LeBris – Prepare for the Downs During the Uptime

BIO: Matt LeBris is a born and raised NY’er who inevitably caught the hustler’s spirit that fills his hometown streets.STORY: Matt got an opportunity to be part of a successful business venture in his early 20s. He was making good money and living a good life. Unfortunately, the business went down, and he took an unpaid internship with Daymond John of Shark Tank. Matt’s biggest mistake was to continue living large even though he no longer had money coming up. He blew over $80,000 of his savings by living way above his means.LEARNING: Understand how you’re subconsciously programmed about money. Live below your means. “Understand how money works. If money’s not coming in, be very cautious of how it’s going out.”Matt LeBris Guest profileMatt LeBris is a born and raised NY’er who inevitably caught the hustler’s spirit that fills his hometown streets. A Forbes 30 Under 30 nominee, Matt has worked with Daymond John of Shark Tank as well as hosted a top 1% globally ranked podcast, Decoding Success. His life mission: impact one person a day, and that’s what he’s here to do today.Worst investment everWhen Matt was in college, he was very fortunate to have had an opportunity to surround himself with individuals a little older than him in a particular business venture. It was a New York City hospitality throwing various events. Matt was in his early 20s and raking it in. He was doing good for himself and felt proud to make a lot of money, drive a nice car, travel, and eat out without making a dent in his bank account.At a certain point, the business started to change. Matt also began to change as a person. This led him to intern with Daymond John of Shark Tank. It was a leap of faith for Matt because it was an unpaid internship. What Matt didn’t do was change his lifestyle. He wanted people to still think he was the rich young man he was before. Even though Matt now had no money coming in, he continued to live above his means just to maintain an image. He ended up blowing $80,000, taking Ubers instead of taking the train and eating at the most lavish restaurants instead of eating at home. Matt’s need to appease his ego was his worst investment ever. He is still trying to forgive himself for that.Lessons learnedUnderstand how you’re subconsciously programmed about money.Live below your means.Turn your worth inward.Andrew’s takeawaysYour life is going to be full of ups and downs. You’ve got to manage during your uptimes to have the cushion you need to survive the downtime.Spend as little as you can and take pride in that. This will keep you happy even during your worst times.Actionable adviceUnderstand how money works. If money’s not coming in, be very cautious of how it’s going out. Put your ego aside and find any possible ways to make money.Matt’s recommendationsMatt recommends talking to somebody like a therapist if you’re feeling down or struggling to regularly work through these issues.No.1 goal for the next 12 monthsMatt’s number one goal for the next 12 months is to adopt the mindset of John Gordon’s simple equation: E+P=O (events plus perspective equals the outcome.)Parting words “I’m giving you your kudos, Andrew. Thank you so much for the opportunity to join you here on this platform. Shout out to everyone that’s listening.”Matt LeBris [spp-transcript] Connect with Matt LeBrisLinkedInTwitterFacebookInstagramYouTubeBlogPodcastAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassThe Become a Better Investor CommunityHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleFVMR Investing: Quantamental Investing Across the WorldBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsAchieve Your GoalsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever PodcastFurther reading mentionedT. Harv Eker (October 2009), Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth