Misfit Entrepreneur
  • Start Here!
  • About
  • Podcast
  • Media
  • Archives
  • Blog
  • Speaking
  • Contact

Subscribe and Listen Today!

Inspiring and Actionable Content Weekly from Misfit Entpreneurs

Misfit Entrepreneur Itunes
Subscribe on Itunes
Picture
Misfit Entrepreneur Stitcher
Subscribe on Stitcher
Misfit TuneIn
Misfit Entrepreneur RSS Feed
Subscribe on RSS
The Misfit Entrepreneur on Soundcloud

Misfit Entrepreneur 15: Kelly Roach

Dave Lukas Chats with Nitin Choda

 53:   From Poverty to 7-Figures with Nitin Choda

In this episode, Dave is excited to welcome Nitin Choda.  Nitin came to the US as an immigrant   in 2002 with zero savings and zero contacts.  Through hard work and hustle he transformed into a successful business owner employing 30+ people all over the world and creating several 7-figure businesses. 

Even with his first major success, Nitin delayed gratification, and used the success (and capital) of the first business to start his next few businesses instead of 'going out and buying nice things' with his profits.  This allowed his businesses to grow even faster and create more wealth.

Nitin is the author of "Total Activation: The 5 Step Fitness Mantra.” It is a dynamic new approach to weight loss and personal wellness. It is a system modeled in three stages of change: Identity, Compare, Integrate (ICI) which has 5 components: Emotional, Physical, Social, Spiritual and Intellectual (EPSSI).

In connection, Nitin has created a skincare and nutrition line - products that work in synergy to activate the best version of you (www.totalactivation.com). Since its launch in April 2014, the products have been purchased by thousands of customers throughout the world – mostly by word of moutn. The company now provides nutrition and skincare products to customers in 7 countries.

Nitin has been featured on CCN, Forbes, the Huffington Post, and a host of other outlets, but the thing that really stood out to Dave when they first met was how humble Nitin was and how much he appreciated and cherished the opportunities given to him.  

​www.TotalActivation.com
Misfit Minute
Don't Miss Even More Resources to Help You Each Week. Click Here and Subscribe to the Misfit Minute!

Show Notes

Nitin has a unique and amazing story.  He is an immigrant who fought his way to success.  He grew up poor in India, but as he says, he has always had an inherent spirit to succeed and was able to network and meet successful people that could help him and that he could learn from.   Nitin’s entrepreneurship started an early age by selling coca cola to his class mates and then getting the glass bottles and selling them to be re-used – making less than a penny per bottle.  It was during this time that he learned the very important lesson of entrepreneurship in creating value.

How do you create value?
  • You have to do something that is unexpected and personalized
  • You have to give before you get (The Law of Reciprocity)
 
What is it about the immigrant edge and the United States that allows people to come with nothing and become successful?
  • The US is the most unique country in the world because regardless of who you are, if you are able to demonstrate that you have what it takes and create value for others, you will get rewarded.
  • The structure in the US feeds entrepreneurship compared to other countries
    • It is easy to start a business, get credit, and access potential customers
    • For example, in India, it can take months to open up a business
  • The gap between the rich and the power is not so large that you can never fill.  In other countries, the disparity between the rich in the poor is so vast that they never even have a chance to do something like own a home or gain wealth.
  • Immigrants that come from areas like this see this and the abundant opportunity it provides.

At the 18 min mark, Nitin gives a really good example of the differences between countries using currency inflation as an example which leads to a conversation on overall wealth.
 
What does it take to be a successful entrepreneur in today’s world?
  • It is easier than ever to be an entrepreneur because of technology
  • Money is also not that hard to get (Nitin used a 0% credit card to fund his first business)
  • The barriers are more internal and are in 5 areas, EPSSI
 
Nitin’s Total Activation EPSSI Formula
  • Emotional:  Emotionally, are you ready for the rollercoaster of entrepreneurship?
  • Physical:  Are you prepared physically and with your health?
  • Social:  Do you have the right people around you to support and help you?
  • Spiritual:  Do you know what really matters?  Do you have a strong why?
  • Intellectual:  Are you growing yourself and expanding your thinking and knowledge so that you can continuously improve?

At the 28 min mark, Nitin talks about how he built his first 7-Figure business and what he learned that can help entrepreneurs and startups.
  • Getting to $100-200,000 is hard work and marketing (as long you have a good product and value)
  • Getting to $1 million and above is all about hiring – you must have a good process and way of finding the best people that fir your culture and needs
  • Scaling is also depending on SOP’s (standard operating procedures and documentation)

There are 3 types of activities that you can spend your time on as an entrepreneur:
  1. Low dollar:  Answering phones, emails, paying bills, laundry, groceries, etc.  When you reach certain levels and you know the value of your time, you will want to outsource these.
  2. High dollar:  Leading your people, hiring, focusing on working on your business, etc.  Things that really make a large impact.
  3. High lifetime value:  Networking and learning from people more successful, personal growth, financial/retirement planning, etc.  These things are important, but not essentially urgent.

The “low dollar” things are typically most urgent and we have to stop ourselves from getting sucked in and focus on the high dollar and lifetime value areas.  Your business cannot grow if you are focused on low dollar.  Use the 80/20 rule.
 
At the 36 min mark, Nitin gives his unique thoughts on hiring talent.

At the 38 mark, Nitin talks about his business and his business setup including how he had made everything virtual and how he markets the products.
​
At the 47 min mark, Nitin gives his philosophy on money.
 
Book recommendations: 
  • Influence by Robert Chialdini
  • Outrageous Advertising by Bill Glaser
  • Breakthrough Advertising by Eugen Schwartz

Best Quote

​Tweet This:  "Life gives to the givers and takes from the takers..."
​​​

Misfit Three

Picture
Be prepared for the sh$t to hit the fan!  Be prepared and accept challenges and failure.

Picture
Make sure you build the right networks around you so you always have someone to lean on and depend on.

Picture
Always, always focus on hiring the best people.  One rockstar employee can do more for your company than 3 average employees and cost you less in the long run.


Show Sponsors


Picture
​HearMeOut is one of the hottest new social nework and communication platforms in the world. They believe talking needs a comeback, and are thrilled to see users who feel the same. The app allows you to share a message up to 42 seconds long and post it to all of your social networks and share it with your friends and followers. It's been called the "Twitter of Voice." 

The app is FREE and is available in the App Store and Google Play Store. 

And HearMeOut is excited to partner with Misfit Nation! Each month they are giving you a chance to win $100! Just sign up for the app, and record your best piece of advice on success and then post it using #MisfitSuccess. At the end of each month, we will pick a winner and send you $100!

Check it out at: 

www.HearMeOutApp.com

Misfit Entrepreneur - ReaditforMe
​ReadItFor.Me is the premier tool for personal growth.  Imagine being able to get all of the best lessons and knowledge from your favorite books with tips on how you can put them into action in 10-15 minutes or less.  Now you can with ReadItFor.Me.  This solution has become one of the top personal growth tools used by the most successful innovators and entrepreneurs throughout the world.  Even Dave is a subscriber.

And ReadItFor.Me has created a very special limited time offer for Misfit Nation where for just a one time, super low payment, you get full access for LIFE!

Check it out at www.ReadItFor.Me/Misfit
© MISFIT ENTREPRENEUR 2018. ALL RIGHTS RESERVED.  Terms and Conditions.  Privacy Policy.   Affiliate Disclaimer
  • Start Here!
  • About
  • Podcast
  • Media
  • Archives
  • Blog
  • Speaking
  • Contact