On a recent podcast episode of Cash Flow Daily, Nick Vertucci was interviewed about his success. At the beginning of the episode, Nick pointed out that people can easily recognize success after it happens. It is easy for people to assume that someone who is successful has a wealthy family, has connections or is just lucky. As Nick pointed out, most people do not know or see the successful individual’s journey to that point. When people share their success stories, they often start at a point when they were just about to succeed. People usually do not know a person’s background or what events happened earlier in life that inspired them or gave them ambition.
Nick’s Background And Path To Success
Nick Vertucci wrote about his path to success in his book, which he encouraged people to buy on Amazon during the podcast. While many financially successful people have strong educational backgrounds and multiple college degrees, Nick never went to college. He planned to go but changed his mind. In the interview, he said that he did not feel that college was the right path for him. When he was a young adult, he realized that time was one of the most precious assets to him. He wanted to take advantage of it by seizing opportunities and paving his own path to success.
Another reason why Nick did not want to go to college was because he did not like any type of change. However, he had to deal with one of the most difficult changes of his life when his father died. Nick was barely an adult at that time, and his family moved out of their home soon afterward. Since he struggled to earn money then and still wanted to remain close to his family, Nick bought a van and stayed in it. His disdain for change ultimately led his first business to fail. However, he learned valuable lessons from that experience.
In the interview, the podcast host mentioned that many people who have success stories also have stories about traveling away from home to find their path. He pointed out that Nick stayed close to home and built his success there. Nick Vertucci said that he did not have a desire to leave at the time. He had a girlfriend, his family and everything he was familiar with near him. What differentiates him from people who leave home to make money is that he did not get his determination from discovering the world. His success came simply from his drive to make something of value and from his persistence.
Since he had so much difficulty dealing with change, Nick recommended “Who Moved My Cheese?” as a good book for people who resist changes. The book was written by Spencer Johnson. As Nick pointed out in the interview, change is essential for businesses to grow, evolve and keep up with technology or trends. Innovators who are willing to accept change do well, and business owners who resist it may lose everything eventually. Nick explained that many people invest everything in a business. It becomes their identity, and they often become just as attached to it as they would to a family member.
To earn money, Nick worked as a delivery person for a local appliance company. With dedication and hard work, he moved up to the sales department eventually. Although he was grateful for the opportunity to earn more, he felt dissatisfied. He knew that he needed to take additional steps to work toward a better future, and Nick wanted to be in control of his own time and finances. Also, he had a strong desire to create something of value to him and to others.
In the interview, Nick said that he felt bad when he watched other salespeople work long hours. They worked on weekends and on holidays to earn as much as possible but still struggled. He knew that he could not work like that for the rest of his life and wanted to find ways to get ahead without spending every waking minute working to boost someone else’s bottom line. As an experienced poker player, Nick wanted to take fate into his own hands.
Nick Enters The Business World
In 1989, Nick Vertucci started a business with a partner. It was a tech company that sold computer chips. Their first office was small, and he and his two partners shared a phone line. Nick said that he was not sure what he was doing and had second thoughts when he realized that the business was a one-room office with a phone. He and his partners called businesses to sell their chips at a small markup. Nick said that he did not understand economics well and was inexperienced. However, his company grew and flourished. When the 2000s brought a major crash, Nick’s company went from $100 million in revenue to about $8 million in revenue. After it went out of business, Nick lost his home.
After Nick suffered the loss of his first business, a friend of his invited him to attend a real estate conference. His friend had already paid $6,000 for the three-day conference. Nick took the opportunity. He said that it was one of the biggest decisions of his life. As he told the podcast host, if he had not attended the conference, he may not have been a part of the podcast interview. He wound up getting into real estate investments and the cash flow portion of the industry. His goal was to build enough money to survive a recession in the future. Nick’s strategy was to invest in one property at a time. Unfortunately, his cash flow business was stripped away from him. However, he picked himself up, moved forward again and succeeded. While many people go from rags to riches, Nick went through the cycle multiple times.
Nick’s Advice To Entrepreneurs
Nick Vertucci said that he would not change anything about his history or his experiences. His advice to entrepreneurs is to just take the first step. He encourages people to develop their ideas but to bring in professionals for help with analysis. Since people often think for a long time about making decisions, they hurt themselves by waiting too long to act or by focusing too heavily on one thing rather than on the big picture. Also, he encourages entrepreneurs to overcome their resistance to change.
When people take advantage of opportunities and make the best of them, they can move up the ladder continually. Nick tells aspiring business owners that failure is an excellent educator, and he says that failure is a part of nearly every big success story. As he pointed out in the interview, the most successful people in history worked past fear, picked themselves up and decided to embrace change. Nick said that his life changed in several positive ways after he learned to embrace all changes and work past his fears.
Nick said that his real estate cash flow mentor once told him to block out any negative voices. People who perpetuate negative thoughts or offer discouragement can hurt entrepreneurs, and personal thoughts of failure or fear can overtake someone’s mind quickly. Nick encourages people to replace those thoughts with determination and optimism. He said that people should not cut out friends or family members from their lives entirely. However, some distance may be necessary sometimes. Nick has a simple four-step success plan. The steps include:
- See it
- Believe it
- Map it
- Do it
Make sure to follow Nick on social media, including the NVREA Twitter, and Mr. Vertucci’s personal account.
