Steve Anderson – Make Successful Failures Like Amazon and Protect the Downside

<p><a href="https://www.linkedin.com/in/stevetn/" rel="noopener noreferrer" target="_blank"><strong>Steve Anderson</strong></a> is an expert in strategic risk and business growth. Drawing on decades of experience in the insurance industry, he wrote<a href="https://www.amazon.com/Bezos-Letters-Principles-Business-Amazon-ebook/dp/B07VD2XMHQ" rel="noopener noreferrer" target="_blank"> <em>The Bezos Letters: 14 Principles to Grow Your Business Like Amazon</em></a>, a Wall Street Journal, USA Today, and international bestseller. With hundreds of thousands of followers, Steve has been handpicked by LinkedIn as one of the world’s most influential thought leaders.</p><p>&nbsp;</p><p class="ql-align-center"><strong>“Measure what matters, question what was measured, and trust your gut.”</strong></p><p class="ql-align-center">Steve Anderson</p><p>&nbsp;</p><h2><strong>Worst investment ever</strong></h2><p>In 2007, Steve inherited a pretty good amount of money from his sister, who died from breast cancer. He wanted to invest this money in the smartest way possible. So he went to an investment advisor who advised him to invest in REITs and Class A office buildings, which he did.</p><h3><strong>Here comes the recession</strong></h3><p>A year later, the recession hit the US real estate market, and Steve lost his entire investment. He knew that he should have pulled out his investment as soon as things started to take a turn, but he opted to hold on for a year hoping for the best. Unfortunately, this turned out to be his worst investment decision ever.</p><h3><strong>His one mistake</strong></h3><p>While he had the right intentions and was even smartly investing his inheritance, Steve made the one mistake not to put measures in place to protect the downside.</p><h2><strong>Lessons learned</strong></h2><h3><strong>Think more about downside protection</strong></h3><p>Something will always happen that is outside your control. So think about what you’re going to do in case of uncertainties.</p><h3><strong>Protect your assets</strong