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.
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?
What is it about the immigrant edge and the United States that allows people to come with nothing and become successful?
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?
Nitin’s Total Activation EPSSI Formula
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.
There are 3 types of activities that you can spend your time on as an entrepreneur:
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.
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