Andrew Pierce – Stay Within Your Circle of Competence and Do Your Due Diligence

<p><a href= "https://www.linkedin.com/in/andrewspierce/"><strong>Andrew Pierce</strong></a> <span style="font-weight: 400;">is an independent asset protection consultant and the creator of</span> <a href="https://wyomingllcattorney.com/"><span style= "font-weight: 400;">WyomingLLCAttorney.com</span></a><span style= "font-weight: 400;">. He helps business owners from nearly every industry and with almost any size company to effectively protect their assets through forming LLCs.</span></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>“The best neighbors are the ones with good boundaries, where you delineate the responsibilities and the rights from the beginning.”</strong></p> <p><span style="font-weight: 400;">Andrew Pierce</span></p> <p><span style="font-weight: 400;"> </span></p> <h2><strong>Worst investment ever</strong></h2> <p><span style="font-weight: 400;">Andrew had an equipment leasing company in South Florida. He would lease out tractors and trailers to moving and storage companies; he started the company in college to make some extra money. The business, interestingly, turned out pretty well.</span></p> <h3><strong>Getting sucked in by overconfidence</strong></h3> <p><span style="font-weight: 400;">Seeing that his first business had gone so well, Andrew felt that he was now an astute businessman. He sold the business and moved to the Caribbean, at a large undeveloped Bay in St. Maarten on the Dutch side–it was about 150 acres.</span></p> <h3><strong>Falling in love and business</strong></h3> <p><span style="font-weight: 400;">Andrew loved the island and had a good time there. He reasoned that the island would be a great place to do business. He considered starting a jet ski and water sports rental company.</span></p> <p><span style="font-weight: 400;">He had a good friend who grew up on the island, and they decided to get into a partnership. The friend would secure the contracts and local licensing because he understood the island. Andrew would provide the capital.</span></p> <p><span style