Nicholas Beugg is a professional marketer and an entrepreneur. He specializes mainly in media buying on social and programmatic platforms. He understands how to turn data into high impact campaigns that can turn into valuable clients. As an entrepreneur, Nicholas has founded 3 successful companies in diverse industries. His companies not only make him money but also employ hundreds of people both directly and indirectly. His success as an entrepreneur is rooted in his strong organizing skills. Even when investing in industries where he does not have the needed skills, he can easily bring together experts and make the most of their skills. Besides running his companies, Nicholas also invests in startups. He has the experience to identify high potential startups and has put his money in startups that have turned out to be quite successful. Apart from his investments in startups, Nicholas is also active in the stock markets and mostly invests in high growth tech companies. He got into Facebook, Amazon, AMD, along with other companies and has recorded impressive returns since then. Besides being a successful investor, Nicholas is also a very charitable person and has over the year given to charities that help vulnerable children.
How did you get started in this business?
I was a gamer growing up. I ended up starting a small business in that industry. I was able to use the capital and experience I gained from that to get into the world of startups.
How do you make money?
I make money both passively and actively. I have three companies that I take a salary from the profits. I am also an investor in several companies where I earn through stock appreciation and dividends.
How long did it take for you to become profitable?
Some of my bootstrapped companies were profitable from day one. You have to become profitable very quickly with those, or you run out of money. However, the period depends on the nature of the business.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
I have never doubted that I would succeed in the ventures I got into. I generally would go into businesses where I had previous experience in the industry.
How did you get your first customer?
I got my first client through my social networks. It was quite effective and helped me grow my client numbers fast.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
Paid social media ads work well for consumer businesses. I usually start with that, and then diversify into other channels.
What is the toughest decision you’ve had to make in the last few months?
My toughest decision was cutting down on staff numbers due to the pandemic. We hope to bring them back soon.
What do you think it is that makes you successful?
I would say a lot of it is luck. I do all of the standard things like working hard, being consistent, and trying to make smart decisions. However, starting companies and investing is inherently risky. There are a lot of external factors that heavily influence your outcomes.
What has been your most satisfying moment in business?
My most satisfying moment was when my first business hit 30 employees. It felt good creating employment for so many families.
What does the future hold for your business? What are you most excited about?
I am definitely optimistic about the future. I am most excited by insurtech at the moment. Insurance is a massive category that hasn’t been touched by tech startups until recently. The healthcare space also looks interesting.
What business books have inspired you?
I am most inspired by the book Deep Work by Cal Newport. It has taught me the power of focus.
What advice would you give to your younger self?
I would advise my younger self to set long-term goals and work towards achieving them. Anything meaningful isn’t built overnight.
Are you willing to be a mentor? If so, how should someone contact you?
You can find me on twitter at @nickbeugg. I wouldn’t consider myself to be a “mentor”, as I still have a lot to learn myslf.