Rich vs. Really Rich: Nicholas Crown on Entrepreneurship, Wealth Mindset & Smart Investing

Feb 25, 2025

46:42

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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!

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