What separates the rich from the really rich? In this episode of The Journey, Morgan DeBaun sits down with entrepreneur, creator, and financial strategist Nicholas Crown to break down the key mindset shifts and financial strategies that set successful entrepreneurs and really rich individuals apart.
In this episode:
00:00 Introduction and Guest Welcome
00:27 Nicholas Crown's Entrepreneurial Journey
03:23 The Reality of Entrepreneurship
04:54 Geographical Arbitrage and Cost Management
08:00 The Birth of Rich vs. Really Rich Series
16:39 Navigating Market Response and Iteration
21:59 The Dilemma of Social Media Authenticity
22:43 The Power of Visual Cues in Marketing
23:22 The Struggle with Social Media Validation
24:33 The Journey of Entrepreneurship
25:24 Challenges of Running an Agency
26:39 Introducing Revise: A Retirement Planning Firm
29:13 Understanding Annuities and Their Benefits
38:18 The Importance of Consolidating 401ks
39:35 Final Thoughts on Financial Management
44:29 Connecting with Nicholas Crown
In the episode, Nicholas Crown, who is known for his viral Rich vs. Really Rich series, shares his path from Wall Street trader to digital entrepreneur, and the lessons learned along the way to financial independence. From scaling startups to exiting companies, he reflects on his journey of iteration, failure, and learning to define success beyond just making money.
Throughout the conversation, Morgan and Nicholas discuss the realities of entrepreneurship, including why business success often takes longer than expected, how to recognize when it's time to pivot, and the common mistake of staying in a failing venture for too long. They also touch on the power of social media in business, with Nicholas revealing how he unintentionally built a massive audience through content experimentation.
Nicholas also shares his insights on personal finance, explaining the mistakes many people make, especially when it comes to 401(k)s. He breaks down the steps individuals can take to regain control of their financial investments to prepare for retirement, and explains how his company, Revise, helps people grow their wealth safely through annuities and pension-like investment strategies.
If you’ve ever wondered how to break free from the paycheck-to-paycheck cycle, scale a business successfully, or invest smarter for the long run, this is a must-listen! So grab your headphones and get ready to take notes! Like what you hear? Don't forget to leave a rating and review!
Pre-order Rewrite Your Rules: https://worksmartprogram.com/book/
More from Nicholas:
https://www.nicholascrown.com/
https://www.tiktok.com/@nicholas_crown
https://www.instagram.com/nicholascrown/
https://www.youtube.com/@NicholasCrownYouTube
Join the Newsletter for More Exclusive Content: https://worksmartprogram.ac-page.com/thejourneypodc
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