A veteran strategic entrepreneur with a reputation for innovation, Peter Jacoves currently serves in the role of CEO with Nationwide Debt Direct. Before assuming his role, Mr. Jacoves founded Richmond Title Services and created, developed, and launched the Fuel Rewards Program, both of which proved to be remarkably successful endeavors.
Where did the idea come from for Nationwide Debt Direct?
Consumer debt has grown at an almost astonishing rate in recent years, which inspired me to look into the surrounding issues and potential causes for the sharp increase. After some research, I came up with the initial concept for Nationwide Debt Direct, which was built around the front-to-back-end solution we continue to utilize today.
What qualities are most important in predicting future entrepreneurial success?
Successful entrepreneurs can recognize opportunities, so many others overlook, which is why I believe a keen insight — along with a deep sense of confidence — is so valuable in predicting future entrepreneurial success.
What motivates you each day?
I’m motivated by many things each day, but my most reliable source of motivation is the opportunity to help people who are struggling to overcome the burdens created by outstanding consumer debt obligations.
Would you do anything differently if you were to start again? If so, what?
Looking back on the entirety of my career, I can confidently say there is not a single thing I’d like to do differently. I’m proud of my achievements as an entrepreneur and remain focused on achieving even bigger and better things in the future.
What is the one thing you do over and over as a business leader and recommend everyone else do?
I make an effort to engage my team members in meaningful conversation on a daily basis. Sometimes we discuss business matters, other times we talk about things that have nothing to do with the business. The point is to take a few moments each day to gain a new insight or external perspective from staff members while taking advantage of the opportunity to get to know them on a more personal level. It’s important to remember the value of truly investing in the people who ultimately play such a critical role in making a company successful.
How do you overcome the challenges you encounter as a professional?
Challenges, at least in my view, are a simple matter of perspective. When you look at a challenge as a difficult or negative circumstance that should have been avoided, overcoming that challenge becomes a stressful endeavor and requires a great deal of energy and effort. On the other hand, viewing a challenge as an opportunity to test your professional acumen or creativity makes it more likely that you will welcome every challenge you face and will even begin to feel a sense of excitement about an unexpected development. It’s possible to achieve a positive outcome with either perspective, but in my experience, the latter is far more effective than the former.