Nick Penev – the gentleman who transitioned from making overnight sales to emerging as an E-commerce superstar! In this recording, you’ll hear Igor Kheifets converse with Nick about his journey, rich with surprises, challenges, and victories.
Your ride through Nick’s tale will be a rollercoaster full of unexpected detours – from late-night dealings to E-commerce fame. Discover how he overcame obstacles, seized chances, and constructed flourishing businesses.
Prepare yourself for an engaging dialogue filled with life lessons and the keys to success, courtesy of Nick. Tune in immediately and draw inspiration from this remarkable journey! Get ready to embark on an exciting journey with Nick Penev, a man who redefined his destiny from overnight salesman to E-commerce superstar. This intriguing discussion, hosted by the brilliant Igor Kheifets, demystifies Nick’s extraordinary career ride dotted with compelling life experiences. The narrative eloquently encapsulates both his professional strides and personal moments, from relocating to the US for education, back to Europe for love, to his nights at a domain names hosting company in Bulgaria.
Your curiosity will undoubtedly be piqued as you venture deeper into Nick’s life scenario. Learn about his struggles, how he adapted to gruelling night shifts at his first sales job, his spectacular journey towards becoming an E-commerce sensation, and ultimately, a significant influencer in the E-commerce arena. His captivating narrative does not end there. Buckle up for more unexpected twists as Nick shares his strategy of tackling life alterations – dealing with unemployment, a car accident, fatherhood, and the decision to kick start a unique venture with acai berries.
Initial Start in the U.S. and Return to Bulgaria
Nick Penev, renowned E-commerce superstar, had quite an adventurous and unpredictable journey from his early life in Bulgaria to his current success in the world of online business. Having completed his high school in Bulgaria, Nick moved to the U.S for further studies on a scholarship. His education in America was interrupted when he decided to return to his homeland, under the influence of his personal commitments. Despite warnings from his father about the potential risks of leaving his studies unfinished, Nick felt confident in his decision to return to Bulgaria.
Nick Penev’s journey from student in U.S. to businessman in Europe
Being an adventurous spirit, Penev’s voyage to the United States for his education seemed like a perfect fit. However, the decision to return to Europe to be with his girlfriend required courage. His heart ruled over his mind, and against his father’s advice, he moved back to Bulgaria without even informing his parents. He had no regrets about the decision, as he later married his girlfriend, proving that it was worthwhile.
Taking a job at A.net after returning to Bulgaria
His move back to Bulgaria marked the start of his professional life. With little formal education and professional experience, he kicked off his career with a sales job at A.net. The company, a competitor to GoDaddy, dealt with domain names hosting and had offices in Sofia, Bulgaria, and San Diego in the U.S.
First Sales Job
His first sales job came with quite the challenge as well as opportunity. Penev volunteered to work the night shift, defying conventional norms and typical work hours.
Voluntarily working the night shift from 10 p.m. to 7 a.m.
Nick embraced the challenge of working the late-night shift between 10 p.m. and 7 a.m. He was an exception to the trend, as most employees did not last more than three weeks on the job because of the challenging schedule. However, his adaptability to changing sleep schedules allowed him to stick with the job for five years.
The lucrative nature of the sales job and a quick rise in income
One of the main reasons he took on the challenging schedule was the lucrative nature of the job. With a minimum wage of $200 in Eastern Europe 20 years ago, Nick was earning $2000 in his second month and around $5000 after a few months. The rapid increase in income provided him financial comfort and stability.
Living comfortably due to high income
Thanks to his high income, Nick could indulge in comforts that were considered luxuries in Eastern Europe at the time. He bought a brand-new BMW, owned an apartment which was paid off by the time he was 26, and lived a life well above the average lifestyle in Bulgaria. However, his success at A.net was short-lived due to unexpected circumstances.
Coping with a Changing Work Environment
Getting used to a changing work environment and an altering work schedule was part of his job. The company had a reputation of not holding onto employees for more than a few weeks due to the regularly changing work schedules and sleep adjustments.
Staying at a job where the longest previous stay was 3 weeks
Despite the short lifespan of employment at the company, Nick survived and thrived. He not only managed to work with ever-changing schedules but also became one of the employees who stayed everlong with the company. In a job where most employees didn’t last more than 3 weeks, he stuck around for five years.
Adjusting to changing work schedules and sleeping during the day
Being adaptable was one of Nick’s strengths that contributed to his professional success. While most employees struggled with night shifts and sleeping during the day, Nick didn’t seem to have any issues. He could work the night shifts during weekdays and adjust back to sleeping at night over the weekends, making him a valuable asset for the company.
Impact of the Sudden Shut Down of A.net
The abrupt shutdown of A.net was a significant turning point in Nick’s career, triggering him to take new directions.
Dealing with unemployment when the company closed
Despite his successful sales stint, the sudden closure of A.net left Nick unemployed. It threatened to disrupt the comfortable lifestyle he had been leading. Suddenly, he found himself exploring new professional pursuits.
Going through life changes including a car accident and becoming a father
Around the same time, Nick’s personal life was turbulent as well. He experienced a car accident and became a father. These dramatic life changes required him to reassess his professional path.
Turning Down Corporate Jobs
After the turmoil caused by the closure of A.net, he was offered corporate positions, which had the potential to restore his previous lifestyle.
Being offered a corporate job post A.net
Despite the tempting offer of corporate stability, he took another risk in his career. Driven by the entrepreneurial spirit, he turned down the corporate job opportunity and decided to take a new path.
Choosing to start a new business selling acai berries
Seeking control over his professional life after A.net’s closure, Nick pivoted and focused on starting a new venture. He was intrigued by the potential of acai berries, and he saw this unexplored territory as an opportunity for an innovative business idea.
Venture into E-commerce with Assai Verde
Embracing the entrepreneurial spirit, Nick and his friends quickly sprang into action, creating a website to sell their acai berry product, Assai Verde.
Creating a website to sell Assai Verde
He and his friends took the plunge into the world of E-commerce by creating a website for their product, Assai Verde. The business aimed to target different markets across Europe.
Targeting various markets across Europe
Expanding across different markets was a strategic approach for Nick to target a larger consumer base and increase their sales reach. They explored various markets across Europe to sell Assai Verde.
Successful Use of Facebook Advertising
Facebook advertising played a crucial role in promoting Assai Verde cost-effectively, reaching a larger audience and generating impressive sales returns.
Using Facebook for product promotion due to cost-effective clicks
They capitalized on the economical cost-per-click rates offered by Facebook to promote Assai Verde. The advertising strategy turned out fruitful, resulting in effective product promotion and impressive customer reach.
Achieving an impressive return on ad spend
In certain instances, they saw impressive returns on ad spend, with over 200 sales from an investment of 250 USD. Utilizing Facebook advertising effectively significantly contributed to their E-commerce success.
Running Multiple Companies
Today, Nick heads several companies, including running a partnership agency, managing a network of E-commerce founders, and leading a company that encourages proactive referrals.
Leading several companies today, including a partnership agency
One of his ventures includes a partnership agency that assists other companies in expanding their businesses without relying on paid marketing. A striking feature of Nick’s business strategy is his focus on minimizing cost while striving for business growth, evident from his approach at the agency.
Owning a network of about 1,500 E-commerce founders
Nick’s influence in the E-commerce space is further amplified by his vast network of around 1,500 E-commerce founders, intended to create a mutually beneficial connection for everyone involved.
Enabling proactive referrals through one of his companies
In one of his ventures, Nick has developed a solution to drive proactive referrals. His system helps companies prompt referrals, replacing the conventional system of waiting for referrals to trickle in naturally.
Influence in the E-commerce Space
Nick Penev has made a noticeable impact on the E-commerce industry, establishing himself as a significant influencer and inspiring many.
Becoming a popular influencer in the E-commerce industry
His journey from a late-night sales job to being an E-commerce superstar and success story inspires many people in the E-commerce field. Nick’s story is a testament to how determination, risk-taking, and adaptability can pave the way to success in the unpredictable world of online business.
Inspiring many in the E-commerce and online marketing fields
Nick’s influence extends beyond just E-commerce, piercing into the realms of online marketing. He has demonstrated how one can leverage digital platforms smartly and cost-effectively to achieve incredible returns and success.
Final Thoughts
Navigating from a late-night sales job to becoming an E-commerce superstar is no small feat. Through his journey, Nick Penev has proven that when aligned with determination, adaptability, and intelligent risk-taking, the path to success can be defined in one’s own unique way.
Reflecting on the journey from late-night sales job to E-commerce superstar
As he reflects on his journey, Nick reveals his key to success lies in being adaptive and versatile, willing to take calculated risks, and having the foresight to identify potential opportunities. From surviving graveyard shifts at his first sales job to steering several businesses today, he has shown what it takes to thrive in the dynamic world of E-commerce.
Sharing advice for aspiring E-commerce entrepreneurs
As a successful entrepreneur and influencer in the E-commerce industry, Nick Penev has valuable insights to share. His advice to aspiring E-commerce entrepreneurs underscores the importance of adaptability, capitalizing on cost-effective digital marketing tools, and leveraging one’s network to foster mutual growth. His journey serves as an inspiring template for entrepreneurship in the 21st century.
