Nicholas Beugg is a marketer and entrepreneur. His marketing career is highly focused on performance marketing on social platforms. He has in-depth knowledge on how to drive measurable business results using optimized creative and targeting. Over the years, he has played a key role in scaling multiple SMEs. Besides his work in marketing, Nicholas is an entrepreneur and has in the last 10 years founded 3 successful companies in diverse industries. Collectively, his 3 companies employ hundreds of people both directly and indirectly. His success as an entrepreneur stems from his strong organizing skills. He has the ability to bring together people of diverse skills and get the best out of them. Besides his entrepreneurial ventures, Nicholas Beugg is a startups investor. Over the years, he has invested in a number of startups that have gone ahead to become serious competitors in their market segments. Nicholas also invests in the stock markets and is mainly focused on tech companies. He got into Amazon and Facebook early on and has made good returns with the two companies. Outside of his professional endeavors, Nicholas is a philanthropist and regularly gives to non-profits that help take care of vulnerable children in society.
Where did the idea for your career come from?
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.
What does your typical day look like and how do you make it productive?
My typical day entails meeting with my team to evaluate investment opportunities and get updates on my various businesses. I then spend the afternoon hours in meetings and scouting for new opportunities.
How do you bring ideas to life?
Whenever a new opportunity comes up, I first run it by my team to see if they like it. We then deliberate on the risks and opportunities, and if the upside is good, I go ahead and implement.
What’s one trend that excites you?
I am very excited by the increased complexity of A.I for risk analysis. It’s a trend that will cut investment risks in the long run. That’s exciting.
What is one habit of yours that makes you more productive as an entrepreneur?
I am an early riser. I wake up at 4 a.m. and spend about two hours analyzing markets and developing new insights that can help grow my business. By the time I get to the office, I usually have so much accomplished. 24-hours is a lot of time if one knows how to manage time.
What advice would you give your younger self?
I would advise my younger self to set goals and focus on actualizing them. A lot of people fail, not because they don’t have good ideas, but because they are not consistent in pursuing them.
Tell us something that’s true that almost nobody agrees with you on.
Anyone can be a successful investor. Lots of people think that only a certain type of people can do it. In reality, it only takes persistence and patience for anyone to shine in this field.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I am constantly on the lookout for growth opportunities. All entrepreneurs must do this to avoid falling behind and losing their edge in the market.
What is one strategy that has helped you grow your business?
That would be customer service. In every business that I do, I strive to meet and exceed my customers’ expectations. It always works well for me.
What is one failure you had as an entrepreneur, and how did you overcome it?
My biggest failure was starting a retail business without proper market research. It failed terribly. I am a risk-taker so overcoming it was not that much of a big deal. I simply dusted off and went to the next venture.
What is one business idea that you’re willing to give away to our readers?
I would advise someone to look into robotics. With 5G becoming a reality, intelligent robots could be the next big thing.
What is the best $100 you recently spent? What and why?
I gave $100 to a charity that helps children. It felt good knowing that my small donation positively impacted the life of a child somewhere.
What is one piece of software or a web service that helps you be productive?
I use Zoom a lot to communicate with my team and friends. It has been quite useful during the COVID-19 pandemic.
What is the one book that you recommend our community should read and why?
I would recommend Deep Work by Cal Newport. It’s a book that offers insights on how to avoid distractions and stay focused on one’s goals.
What is your favorite quote?
My favorite quote is, “Success is not final, failure is not fatal. It is the courage to continue that counts” by Winston Churchill. It motivates me to keep going no matter the circumstances.
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.