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David Zhao independently managed digital marketing services for several clients before founding his own eCommerce platform – MoreViews, Inc. (originally moreviews.net) in 2007. Specializing in digital development, marketing and management, David Zhao served on the board of various not-for-profits throughout the years. In 2014, his NYC based digital agency, NXTFactor, created over $15 million in revenue for their clients and partners. In 2018, his food and dining franchises such as Chubby Cattle, Meet Fresh, and Spice World creates over $25MM annual revenue combined.
How did you come up with this idea?
A: I run a digital agency, NXTFactor, and had the opportunity to work with clients in different industries. After working with hundreds of clients’ digital presence via SMM/Ad Allocation, I begin to see the patterns of successful ventures. I then decided to invest into my clients’ ventures and begun NXT Group. Not only do I raise capital and provide capital for these ventures, I provide marketing and financial insight for these ventures.
What brought you into the business, tech, innovation, and entrepreneurship world?
A: David started www.moreviews.net (MoreViews Inc.) in 2007 as an eCommerce platform for people to purchase social media marketing & SEO services. It then transformed into NXTFactor in 2013 to serve small and medium-sized businesses with their digital platforms and online presence. The rest is history with how I got into the food and dining space and the auto industry.
What sets you apart as an individual?
A: Optimism & ability to take ideas into minimum viable products. I have a keen insight to industry based opportunities/problems and the ability to create solutions for those niche problems.
What type of person or company is the best fit for your accelerator?
A: Our VC fund is interested in investing in ventures or MVPS with existing revenue looking to scale. These ventures must solve an industry based problem by using innovative tech assistance or financial structures.
What’s your dream with your career?
A: In the short term, I’d like to provide high risk-adjusted return for my investors of my ventures and my fund. With the proven record of my returns from industry agnostic ventures, I will create socially impactful ventures to solve the bigger problems we face as a global community today.
What is your best tip when it comes to networking and building relationships?
A: The best relationship is built through working together even if it’s a small project. Start some type of synergy with that individual and see where it takes you, no matter how small. Show your potential client what you’re capable of for free and build that relationship. Learn to give more to build bigger projects and build greater networks.
What is your biggest failure? What did you learn from it?
My biggest failure is the investment into unknown industries and public companies that I am not in control of. I’ve learned to invest into opportunistic ventures and improving their operation by increasing revenue, decreasing costs, and improving their internal structure. Once my team has the control of the operation, we can better assess the company’s financial health and its future.