Ep. 101 - From the Battlefield to the Boardroom: Practical Tips for Success with Todd Woodrick
Todd Woodrick leads the planning and operations of the firm, including provision of world-class operational infrastructure, procedures, risk management, and data security. Todd has served as the Chief Operating Officer (COO) of four private companies, including a Registered Investment Advisor (RIA), a venture capital firm, and two technology companies. He also worked as principal staff at the Johns Hopkins University Applied Physics Lab and served 24 years in the Air Force Special Operations. Todd earned an M.S. in Strategy from the National War College, an M.S. in Defense Analysis from the Naval Postgraduate School, and a B.S. in Finance from the University of Connecticut. If you are interested in learn more about Todd's investing firm, be sure to check out Acansa Investment Management Group
In this episode, Ashton and Todd dive into what it takes to excel at life and how to navigate a new industry or sector. Todd shares his experience transitioning from the military to Johns Hopkins Applied Physics Lab and later, a private equity firm. He also explains how he uncovered a Ponzi scheme while working at one venture capital firm, and the importance of doing due diligence when taking up a new role or entering a new venture. They discuss the need to master the language in any field in order to build perceived expertise, plus important tips for investing such as asking questions about how money is being handled and looking for second-order indicators. Lastly, they focus on personal growth and self-care, finding mentors to learn from and creating supportive networks that empower each other. Tune in this week to explore what it takes to excel at life!
[00:00 – 16:38] Adapting, Mastering, and Succeeding in Different Industries
- Todd transitioned from a military career to various roles in finance and investment management.
- His ability to adapt and pivot between different industries demonstrates his flexibility and willingness to learn.
- Todd emphasizes the importance of mastering industry-specific language and concepts to establish expertise.
- He recognizes that while using the right terminology is essential, true success requires deep knowledge and understanding of the underlying principles in the field.
- Todd’s dedication to thorough research and preparation is evident in his commitment to reading files and acquiring in-depth knowledge of each new role he undertakes.
[16:38 - 34:28] Todd’s Experience on Fraud
- Transitioning to different investment sectors requires adapting to new terms, brokers, and lenders, as seen in the shift from residential to commercial properties.
- Understanding risk, return, and liquidity is crucial for successful investing, especially in institutional investing.
- The size of the problems you solve correlates with the rewards or payment you receive.
- Diligence is key in identifying potential fraud or Ponzi schemes, including reviewing transaction records and verifying information.
- If you suspect fraudulent activity within your firm, it's important to raise concerns and blow the whistle to protect your own interests and potentially prevent legal repercussions.
[34:28 - 47:17] The Importance of Diligence and Transparency
- Todd recognized that the investment manager's actions were intentional, not accidental.
- Todd underestimated the risks associated with investing based on personal relationships and family connections.
- Todd learned the importance of conducting thorough due diligence, regardless of the investor's reputation or track record.
- Todd and the CFO's prompt action prevented further losses and exposed the fraudulent scheme.
- Todd realized the need for third-party audits and transparency in investments to avoid potential fraud and misrepresentation.
[47:17 – 01:14:55] Closing Segment
· What is one thing you learned and implemented that took your business, wealth, etc. to the next level?
o Todd learned the importance of understanding industry-specific language, using it confidently, and focusing on creating value. He advised finding personal satisfaction in one's work and identifying intrinsic motivations for long-term success.
· What brings you the most joy in life right now?
o Todd finds joy in his family's successes: his wife's cybersecurity role in the Navy, his elder daughter's pursuit of Veterinary Science, and his younger daughter's academic progress after health struggles.
· What is one effective approach to ensure health and longevity in terms of diet, workout, and mindset?
o Todd emphasizes the importance of volume in exercise for health and mobility. He suggests high-intensity workouts with compound movements and prioritizing around 90 minutes of exercise, five to six times a week, for long-term benefits.
· If life was a game, how would you measure if you're winning or not? How would you know if you're on track to win in your life?
o Todd suggests that the quality and duration of the people surrounding you are key indicators of success. If you are surrounded by high-quality individuals who stay with you, it means you are on the right path. Todd advises assessing whether you are surrounded by the best in your community to evaluate your progress.
Connect with Todd!
Website: Todd Woodrick
Want to learn more about creating multiple income streams, wealth protection, financial freedom, or real estate investing? Join our investor club, check out our blog, get our free ebook on investing, or join us for our monthly Real Estate Investing Made Simple virtual meetup. Take the first to your wins in life and head on to http://www.valkeregroup.com.
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Key Quotes
“I truly believe that expertise, particularly nowadays, is measured in how well you master and can communicate. About 70% of your perceived expertise comes from your communication.” – Tood Woodrick
