Scott Audia is a seasoned financial advisor and the driving force behind New Age Venture Capital, where he specializes in strategic investment planning and wealth management. Born in Hauppauge, New York, Scott’s early exposure to hard work and dedication shaped his professional ethos. With a degree in finance, Scott started his career at a prominent investment firm before founding his own company, motivated by a passion to empower individuals and businesses to optimize their financial potential. Renowned for his commitment to client success and financial literacy, Scott also dedicates time to community outreach, conducting workshops and seminars. His advocacy for continuous learning and practical financial education makes him a respected figure in the financial community. Scott’s personal interests include supporting his favorite sports teams and spending quality time with his family.
How did you get started in this business?
I began my career in the financial sector right after graduating, initially working for a major investment firm. Over time, I realized my passion for helping individuals and businesses understand and maximize their financial potential, which led me to establish my own venture, New Age Venture Capital.
How do you make money?
My business generates revenue primarily through client fees for financial advisory services. These fees could be structured as a percentage of assets under management, fixed fees for specific services, or a combination depending on the client’s needs and the complexity of the services provided.
How long did it take for you to become profitable?
It took about three years to become profitable. Building a reputation, gaining client trust, and refining our service offerings were key steps that took time but ultimately contributed to a sustainable business model.
When you were starting night, was there ever a time you doubted it would work?
Absolutely, there were moments of doubt, especially during the early phases when building a client base was slower than anticipated. However, focusing on delivering exceptional value and maintaining resilience helped me navigate through those challenging times.
How did you get your first customer?
My first customer came through networking. I reached out to former colleagues, classmates, and industry connections, and eventually, it was a referral from a college friend that led to securing my first client.
What is one marketing strategy that works well to generate new business?
One effective strategy has been hosting financial planning workshops and seminars. These events provide value and build trust with potential clients in a personal setting, which often translates into business engagements.
What is the toughest decision you’ve had to make in the last few months?
The toughest decision was to pivot some of our business operations to adapt to the digital-first demands of the current market. This involved significant investments in technology and training our team to manage new tools effectively.
What do you think makes you successful?
I believe what makes me successful is my commitment to continuous learning and genuinely listening to my clients’ needs. This allows me to provide tailored advice that truly impacts their financial health and futures.
What has been your most satisfying moment in business?
The most satisfying moment was when a long-term client told me that our planning and advice had enabled them to retire comfortably and earlier than they thought possible. Knowing the tangible impact of our work on someone’s life is incredibly rewarding.
What does the future hold for your business?
The future looks promising with plans to expand our digital offerings, including more personalized online advisory services and financial education platforms. We’re also looking into sustainable investment options to cater to the growing interest in socially responsible investing.
What business books have inspired you?
“Thinking, Fast and Slow” by Daniel Kahneman has been particularly influential, offering deep insights into the decision-making processes which are crucial in financial advising. Another key read has been “The Intelligent Investor” by Benjamin Graham, which is a cornerstone in understanding value investing.
What advice would you give to your younger self?
I would tell my younger self to worry less about the need for immediate results and focus more on steady growth and learning. It’s important to build a strong foundation and not get sidetracked by short-term setbacks.
Are you willing to be a mentor?
I am always open to mentoring young professionals in the industry. Sharing knowledge and helping others grow professionally is not just a way to give back, but it also enriches my own understanding and perspective.