Peter Stadler has been in the world of business, sports and technology for many years. He has been an active soccer player since his early teens and continues to play in his spare time. He also started his entrepreneurial career at a pretty young age. At 21, he started building a financial company that would be accessible to a wide clientele. He has succeeded in doing just that. As CEO and founder of Wealth Effect Management, he is making the world of investment and finance more accessible to investors large and small. He is also a partner and CFO of our firm, STL.SOLUTIONS, and helps the company in the way he knows best – bringing the necessary racio and financial background to make the project’s vision come to fruition.
He is an ambitious visionary, which shows in his selection of projects and ventures. I met with Mr. Stadler and asked him of his views on the business world and the world of STL.SOLUTIONS.
You started your business at a young age. What challenges have you had to overcome as a 21-year-old entrepreneur (in the financial sector)?
There were many of them. The first was my age itself and, of course, how older and more experienced people perceive you. Especially in finance, it’s an extremely sensitive issue – why would you trust a 21-year-old with your money, especially when there are more experienced investors and financial experts available. Thus, I really had to work my education and experience, as they go hand in hand with your creditworthiness for the clientele you can realistically reach. Another challenge was personal growth and maturity, as well as the lack of capital to start a business, as I grew up in very humble circumstances and helped my parents and sister to the best of my abilities and capabilities.
What do you enjoy most about entrepreneurship?
The opportunity to add value to the company and to fulfill its vision. I also enjoy and am motivated by my personal and business progression itself. It motivates me when I can create new things, build teams of capable people and reach for new milestones. It’s inspiring to see how different friendships and partnerships are born in the development of the company, and how they last even after the joint projects are finished. While we may not always talk about positive endings, all projects shape and change individual people’s lives.
You’ve already acquired long-term experience with entrepreneurship. What advice would you give to young people who would also like to start a business?
Entrepreneurship is about constant development, change, the ability to adapt and be flexible. You need to be prepared for it to be more challenging than you think, and you need to be able to constantly tackle new challenges. However, you must not see this as a bad thing. On the contrary, you should see it as an opportunity for further growth. It is also about being able to take responsibility and make important and prudent decisions. There is no general advice, but these are, I think, the most basic things.
What are some core characteristics a successful company needs to have?
A company can only have the characteristics that its people have. They define the company, give it its DNA. Thus, a successful company needs to recruit people who have (1) the necessary knowledge in the industry, (2) the desire to continuously improve and to move forward, (3) the ability to accept feedback and criticism, to admit the mistakes they make and to be able to learn from them. Of course the ethics, character and desire to create the best products and services is also integral.
What made you consider STL.SOLUTIONS as an interesting investment opportunity?
It’s basically a combination of what I mentioned before: first, a very good foundation for the project in the form of passionate, hard-working, experienced people; second, the product and vision itself. If both, the people and the product feel right to you – as they do to me – it’s generally a good investment.
Are you a fan of the technological advancements we are now seeing? For example, are you a fan of innovative sports technology?
I certainly am. As a former active athlete, I love the progression and advancement that the industry offers. I’m glad that we can be part of that with STL.SOLUTIONS and I think we have many more interesting joint projects to come
What role does sport play in your life?
In one word: integral. I still play football actively and go to the gym regularly.
Do you see any connection between sport and business?
Willpower, discipline, perseverance and a sense of purpose.