{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/63d3ad1a963ae60011f9ff7f/63f563a71561a70011763cd1?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"How a Simple Mistake Led to a $20 Million Ponzi Scheme","description":"<p>Could a simple vendor decision cost your company millions? For one bank, it did. This video breaks down the true story of How a Simple Mistake Led to a $20 Million Ponzi Scheme. Anders Lillevik, a 25-year procurement veteran and founder of Focal Point, uses this shocking real-world example to illustrate the critical importance of a structured procurement process. This is a masterclass in corporate risk management. You'll learn the full story of how a seemingly logical vendor choice spiraled into a multi-million dollar disaster, a practical framework for conducting proper due diligence on new suppliers, and why \"Excel is not a management tool\" for any business that wants to scale safely and efficiently. Check out the company: https://getfocalpoint.com</p><p><br></p><p>Book a 1-on-1 advisory session with me to apply these principles to your business: https://calendly.com/wltb/advisory</p><p><br></p><p>👀 CONNECT WITH SEAN</p><p>Subscribe: https://www.youtube.com/@seanweisbrot</p><p>LinkedIn: https://linkedin.com/in/seanweisbrot</p><p>Inquiries: welivetobuild@gmail.com</p><p><br></p><p>🕒 CHAPTERS</p><p>00:00 - \"Excel is Not a Management Tool\": A Procurement Manifesto</p><p>03:33 - What is Procurement? (A Simple Guide)</p><p>06:42 - The #1 Mistake That Grinds Businesses to a Halt</p><p>09:54 - The $20 Million Ponzi Scheme Caused by One Bad Vendor</p><p>13:06 - A Masterclass in Due Diligence: How to Vet a New Supplier</p><p>16:06 - The Real Cost of a SOC 2 Certification for a B2B Startup</p><p>19:16 - How Modern Auditing Finds the Problem</p><p>25:34 - Inside a $5.5M Seed Round: From Product to Scaling</p><p>28:41 - Why Our B2B Sales Cycle With One Client Took 14 Months</p><p>31:45 - Why \"One-Size-Fits-All\" Software is Obsolete</p><p><br></p><p>📈 WORK WITH ME</p><p>▶ Book a Paid Advisory Session: https://calendly.com/wltb/advisory</p><p>▶ Sponsor the Channel: https://www.welivetobuild.com/collaborate</p><p>▶ My AI/Automation Agency: https://optimai.ai</p>","author_name":"Sean Weisbrot"}