Peter Jacoves is the CEO of Nationwide Debt Direct, a company dedicated to helping consumers reduce or eliminate outstanding debt obligations through the use of its uniquely innovative front-to-back-end solution. Under Peter’s leadership, Nationwide Debt Direct has risen to prominence in a highly competitive sector currently experiencing rapid growth that is only expected to increase going forward. Peter is also the strategic entrepreneur behind a number of other successful endeavors, including Richmond Title Services, the Fuel Rewards Network, and Simply Fondue Restaurant.
BusinessInterviews.com: What inspired you to launch your business?
Peter Jacoves: The inspiration behind Nationwide Debt Direct’s launch came from the simple recognition that many American families are struggling with outstanding debt obligations but do not have access to the assistance necessary to reduce or eliminate those obligations. With the development of our innovative front-to-back-end solution — along with our focus on providing ready access to vital financial educational programs — we are uniquely positioned to assist anyone experiencing difficulty managing their debt obligations.
BusinessInterviews.com: Do you have any recent success stories that you’d like to share with our readers?
Peter Jacoves: Every day we are hard at work in support of our clients as they work toward the achievement of their financial goals, and it is because of this persistent and focused effort that we receive endlessly positive feedback from the multitude of consumers who have benefited from our assistance. While we are proud of the work we do each day, we also understand that there is always room for improvement through creativity and innovation. We will always remain committed to improving upon the exceptional services we offer in any way possible.
BusinessInterviews.com: What issue does your core product help solve and how so?
Peter Jacoves: There are actually two principal issues we try to address through our core service offerings, both of which are critical in reducing or eliminating consumer debt. The first is the development and execution of a debt reduction or elimination strategy based on the individual circumstances facing the client, which might include negotiations that lead to a settlement. The second is education-based, as far too many consumers are unaware of the many different ways to address their outstanding debt obligations.
BusinessInterviews.com: How do your competitors view you?
Peter Jacoves: Based on my interactions with competitors over the years, I believe that I am perceived as an entrepreneur and executive whose accomplishments are the sole product of a deep commitment to offering goods and services that provide significant value to the consumer over both the long and short term. As a result, the industries I’ve been involved with over the years have been dominated by companies operating with a similarly consumer-oriented approach, which benefits the industry as a whole as well as the consumers being served by that industry.
BusinessInterviews.com: What’s the biggest risk that you’ve ever taken and how did it turn out?
Peter Jacoves: The biggest risk was also one of the earliest entrepreneurial risks of my career, but it ultimately turned out that this particular calculated risk yielded the best-case scenario I originally projected. This occurred during the early 90s with my restaurant, Simply Fondue, which I founded, owned, and managed. Due to the calculated risk, I took with the company during its earliest stages, I was able to transform a single restaurant into a national chain and oversaw a combined revenue increase from $500,000 to $4 million, all in a period of just three years.