Ep. 14 | Ryan Marques – Covid Series: Don’t Be Araid To Admit You Failed
October 7, 2021
On this episode of The Rich Equation Podcast, Ashish is joined by Ryan Marques. Throughout this episode Ashish and Ryan discuss a multitude of topics ranging from admitting to failure, how listening to your gut can save you time and how to measure relevance of product market fit. Ashish and Ryan provide a space for open and honest conversation about struggles they have come across within their careers and what these struggles have taught them. Ryan also shares some of his best advice and urges you to not waste time!
ABOUT RYAN MARQUES:
Originally from Brazil, I studied at Boston University. After graduating, I worked as a trader on Wall Street for 5 years, with passages at Deutsche Bank and BNP Paribas. In 2012, I decided to head back to Brazil to open a media startup called Intaxi Media. The venture lasted about eight years, but unfortunately we had to shut down in 2020. Now, and for the last eighteen months, I am running my family´s business, which is in fuel retail (gas stations and convenience stores), and I have just founded a new brand called Madeira and a retail cooperative.
0:00 – Intro 0:03 – Ashish shares a brief description of Ryan 0:21- Ashish explains how this episode will discuss how listening to your gut can save you time and decision making. This episode will also feature conversation about how you should never be afraid to admit failure, how to validate business plans and how to measure relevance of product market fit 2:31 – Ryan shares what the term rich means to him 3:47 – Ryan mentions how he is currently involved in the gas station and retail business 5:47 – Ryan states that his day consist of two hours of sketching every day 7:06 – Ashish shares the opinion that it’s a mis- expectation that you can come out of college at 22 years old and know exactly what you want to be at 55 8:43 – Ryan states that he left college thinking ‘where can I maximise the amount of impact or the amount of money I can make’ and how Wall Street was the answer 9:52 – Ryan speaks about the European credit crisis in 2011 and the impact that had 12:04 – Ryan talks about he has had bad times within his career and explains how he was almost relieved when COVID-19 hit 15:36 – Ryan shares with us some things he learned from business experience that school and college didn’t teach him 16:46 – Ryan states that relevance is the number one thing you need to start and grow a business 20:17 – Ashish asks Ryan about when COVID-19 hit and the business began to suffer, what were the internal questions he started asking himself 21:52 – Ryan states that time is the resource that we have the least of in life so he advises you to not waste the time you have 23:10 – Ashish asks Ryan that if he had of made the decision to leave sooner, would there have been a process for him to identify the fear, come to terms with it and disengage from the fear and what tips he has for people going through the same situation 25:24 – Ashish speaks about how the emotional connection that comes with building a business for him prevented him from making clear decisions 27:41 – Ryan explains how sometimes the business model is a large part of the success or the failure from the beginning 30:50 – Ryan expresses how he wanted to have the best system out there and how he wanted to have payment systems and facial recognition and how these systems were cool but not essential and now looking back he can see where he could have better spent the funding 32:10 – Ashish mentions how one of the pillars of the rich equation is routine; what do rich people do on a daily basis to keep them in good mindset and health 32:42 – Ryan explains how his rich equation routine pillar is full of sports 35:39 – Ryan expresses how happiness for him is all about creation for him and what can keep him moving forward 36:07 – Ashish states that we often want more time when we have too much money and we often want more money when we have too much time 40:03 – Ashish asks Ryan what is one thing that keeps him up at night 43:00 – Ashish speaks about how a fair and healthy amount of comparison can fuel you and motivate you to accomplish bigger and better things 43:55 – Ryan talks about the difference of how people in Brazil compare themselves to each other between how people in America compare themselves to each other 45:49 – Ashish and Ryan finish this episode with some final advice of call a spade a spade and don’t waste time
FIND RYAN MARQUES: