Peter Jacoves is the founder and CEO of Nationwide Debt Reduction Services, a consumer-oriented debt settlement company offering professional services designed to satisfy any unsecured financial obligations held by consumers across all 50 states of the US. As founder and CEO of the debt settlement company, Mr. Jacoves’ experience and expertise has been instrumental in the development of the front-to-back-end solution that has since enabled Nationwide Debt Reduction Services to help so many consumers in reducing their outstanding debts while also becoming better educated regarding the subject of finance as well as the wealth of options available for addressing any debt-related issues.
A prominent and highly respected strategic entrepreneur, Mr. Jacoves possesses a lengthy track record of success in developing a simple concept and transforming it into a lucrative business endeavor. Under Mr. Jacoves’ leadership, Nationwide Debt Reduction Services has assisted countless consumers by providing a wide range of settlement solutions along with a host of relevant educational services. As a result, the company has performed exceptionally well across several critical indicators, including metrics measuring conversion, response, retention, and settlement performance.
In his role with Nationwide Debt Reduction Services, Mr. Jacoves is responsible for developing a nationwide loan-closing solution so consumers can alleviate the many burdens created as a result of outstanding debt obligations. Recognizing the emotional toll substantial debt obligations take on consumers all over the United States, Mr. Jacoves has utilized his position as CEO to ensure his company serves as the strong advocate consumers require in order to experience a sense of financial freedom and the peace of mind so inexorably linked to finally achieving debt-free status.
How did you get started in this business? What inspired you to start this business?
Every year a new research study is published indicating the amount of outstanding debt the average American is burdened with, so I founded Nationwide Debt Reduction Services with the goal of helping others overcome the economic challenges wrought by the substantial debt obligations so commonplace throughout the United States.
How do you make money?
We offer consumers a wide range of debt settlement services as well as educational services through Nationwide Debt Reduction Services.
How long did it take for you to become profitable?
In previous entrepreneurial endeavors, I set an aggressive timeline (usually anywhere between of 8 and 12 months) in which I expected the business to become profitable, but I felt it would be more appropriate to expand that timeline to 16 to 24 months in the case of Nationwide Debt Reduction Services.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
It’s rare to proceed in any endeavor without encountering doubt at one point or another, but I felt so strongly about the opportunity to help people overcome their financial challenges that I refused to give in to any of the doubts I experienced early on in this process.
How did you get your first customer?
Since the very beginning, we adhered to the tenets of direct marketing to generate interest among consumers, which is how we secured our first customers. When it comes to debt relief services, our apathy is a great attractor.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
Our direct marketing principles, when paired with sensitive and consumer-oriented communication strategies, continue to serve as an integral part of our marketing strategy for acquiring new business.
What is the toughest decision you’ve had to make in the last few months?
The process of deciding how to adjust our training programs (to ensure our professionals are capable of easily shifting from a pragmatic financial mindset to one more focused on emotional support within a single conversation) involved a number of tough decisions. Naturally, customers dealing with serious financial burdens experience a wide range of emotions, and we feel it’s necessary for our professionals to be prepared to assist our customers in this way as well.
What do you think it is that makes you successful?
I’ve always been able to not only clearly visualize an entrepreneurial concept, but to also fully develop that concept to the point that it becomes the profitable business I originally envisioned.
What has been your most satisfying moment in business?
Out of all of my entrepreneurial successes, founding Nationwide Debt Reduction Services is the most satisfying simply due to the positive impact the company has been able to have on consumers all over the country.
What does the future hold for your business? What are you most excited about?
I’m most excited about opportunities to further refine our services in order to better serve our customers, and I believe in a future in which more and more consumers experience financial freedom due to the assistance of Nationwide Debt Reduction Services.
What business books have inspired you?
“Like A Virgin-Secrets They Won’t Teach You in Business school” by Richard Branson
What is a recent purchase you have made that’s helped with your business?
We’re currently in the process of expanding the educational services we provide to our clients, so the company recently invested in the creation of several new financial education programs we hope to make available soon. I like the new use of video tutorials.
Has anything you learned from reading Richard Branson’s book helped guide your approach as CEO of Nationwide Debt Reduction Services?
In his books, Richard Branson states emphatically, “Good people are not just crucial to business, they are the business.” Here at Nationwide I have an open forum for all employees to take an active role in coming up with new ideas and suggestions to improve productivity.