Erez Katz has successfully started and sold a few businesses. Now, he is in his most exciting journey yet, with Lucena Research.
Erez discusses a lot about his entrepreneurial journey, and how it is harder than many expect. Among the many stories of successes, there are many financial failures that you do not hear about.
We also dive deeper into his experience and advice for investors. Lucena Research has created machine learning technology that helps you take the emotions out of investing. Erez shares some great wisdom on how to succeed as an investor, and also as an entrepreneur.
In This Podcast, You’ll Learn:
- How to start a software business.
- The true test to see if an idea really sticks.
- Why the Lean Startup method is not always applicable.
- What traits make for a good CEO.
- The key differentiators between successful and unsuccessful entrepreneurs.
- Fear and greed, and the effect of human behavior.
- Why you need to take emotion out of investing.
- The strong movement of entrepreneurship.
- And much more!
Definition of Wealth:
- When I was coming out of college it was $35,000 per year. But that was not enough. More wasn’t enough either. It’s not really about money. For me wealth is about not worrying about the day to day expenses. It is about having the ability to follow your passion and build that financial independence that can serve you and your family for years to come.
- Market Wizards, by Jack Schwager
Best Piece of Financial Advice:
- It is not a sprint, it is a marathon. Try to find ways to build your wealth one step at a time, and not “break the bank” in one shot.
Connect with Erez:
Erez ends with the question, “If I were on my deathbed, what would I say?”
That is a powerful question, and we should all truly think about how we’d answer it. Erez does not hold back, and says that he would NOT say that he wished he had worked harder. For a serial entrepreneur, working hard is in his DNA. But it goes to show you that it is not all about money. Although money is our main focus, we are sure to bring up the other aspects of wealth – time, family, experiences, freedom, etc. And I think that Erez’s comments reflect these things to also be a part of the equation.
- Answer this question: if you were on your deathbed, what would you say? Would you have any regrets? What would you change?
- If there was anything you would change, do it now. Don’t delay.
- If you are interested in investing, check out Lucena Research and their great tools and technology for traders.