Some people who succeed in their career life after great struggles are a true inspiration to many others. One such man is Nick Vertucci, Founder, and CEO of the Nick Vertucci Real Estate Academy. Vertucci was brought up in a humble family where both his parents loved him. They made sure that they provided for him and his siblings’ everything they needed until Nick was at the age of ten when his father died. His mother was forced to work throughout the day to provide for them and often came back at late hours when everyone as asleep. At the age of eighteen, Nick Vertucci was at his hardest time of life.
Fortunately, Vertucci found a breakthrough when he started his own business where he used to sell computer parts. At that time when he was successful, Nick decided to marry and even got three daughters. Unfortunately, things again turned worse when the dot-com crash of 2000 came, and Nick lost all his money. The dot-com period was the period when the usage and adaptation to the internet enormously grew. Internet-based companies developed and later the dot-com bubble collapsed, and the companies fell. Other people who had made investments in the companies also lost their money.
Having very little income, Nick Vertucci was forced to get into debts which later became a problem. He eventually lost everything excluding his home. During this time, a friend to Nick, fortunately, invited him to a real estate training seminar which would last three days. Although unwilling to use his weekend in a workshop, Vertucci decided to go. At the seminar, Verucci understood some of which was said by the speaker but not all. He thought of what was said and was inspired by the real estate business. He became determined to learn more about the real estate business, and it took him about ten years to learn all that he needed to start.
He developed a simple system which allowed him to make money in real estate. Within no time, Vertucci had become a millionaire and got out of all his debts. He was given inspiration also to help others with the same problems and founded the Nick Vertucci Real Estate Academy in 2013. The academy has locations across the U.S such as Nevada. The college offers lessons on real estates and has since helped many people in the real estate business.
One of the biggest sticking points in business involves company compensation of its rank and file employees. Shareholders want to keep the cost of employees down. However, good talent does not come cheap and the best employees want some sort of incentive for their performance. Now, one compensation expert has created what may be the perfect compensation idea. That compensation expert, New York Lawyer Jeremy Goldstein, has created a compensation structure where employees, companies executive, and shareholders can all walk away happy.
First off, let us get to the major issue which dominates a company’s financials – this is known as Earnings Per Share or EPS. Most employee compensation and incentives are valued based on the EPS. If the EPS is high, then some companies will trigger a bonus or higher pay structure for their employees and executives. However, measuring compensation solely by EPS can be a double-edged sword.
Executives can make dangerous short-term decisions to drive up a company’s EPS at the expense of the companies long-term survivability. For instance, a car company can offer a bunch of “no money down, no payments for 12 months” deals to quickly clear out their auto inventory. Sales and EPS would surge for the car company in the short term. However, many of those car buyers may be unqualified borrowers and unable to make the payments on their cars, leading to an avalanche of defaults.
Jeremey Goldstein’s idea is to tie employee compensation to the long-term performance of a company’s senior executives. A CEO with a 5-year growth plan will better position a company for long-term success. The result is that employees will also have an incentive to stay with the company to execute the long-term goals of the CEO. And the shareholders can also find longterm value into holding onto the company’s shares.
Jeremy Goldstein has decades of experience as both a practicing attorney as well as a corporate compensation expert. Currently, Mr. Goldstein is the Principal Partner at Jeremy Goldstein & Associates LLC, a boutique law firm specializing in corporate compensation. Prior to opening his own firm, Mr. Goldstein worked for a number of law firms.
Educated at the New York University School of Law, Jeremy Goldstein’s portfolio of experience includes work for several major cellular companies as well as work in the energy and financial sector. In addition to his work at his legal practice, Jeremy Goldstein is also a contributing writer for the NYU Journal of Law and Business. Learn more: https://www.linkedin.com/in/jeremy-goldstein-26aa1b4