The venture capital landscape has changed significantly over recent years. Andrew Viera has witnessed this firsthand.
Now a successful conscious venture capitalist, Andrew’s entrepreneurial journey began when he dropped out of college at 19 to invent new products, including a protein shaker that filters water. Though his first few ventures failed, he continued to look for ways to innovate. When the digital assets space exploded, Andrew saw an opportunity worth taking.
He opened a marketing agency offering free marketing to local companies. Andrew and his team began charging for their services, and in just 5 months, served over 3,000 clients. He then transformed this marketing business into the Viera Walia Capital firm. As of April 2022, the firm has recorded a monthly growth of 27.5% and scaled to 7 figures.
In Andrew’s recent viral Twitter thread about how he went from being broke to building a successful $70M capital firm in just two years, he explains 4 mistakes 90% of people make when trying to build their wealth.
To Andrew, the first mistake is not being bankable. “Loans are key to growing your business at an accelerated rate. The faster you can grow your business, the faster you can make money. The faster you can make money, the more money you can make,” says Andrew.
The second mistake when trying to build wealth is putting your ego before cash flow. “If you make a bit of money and try to flex on Instagram with supercars, designer clothes, and expensive dinners, you’ll stay broke trying to look rich,” explains Andrew.
The third mistake is living paycheck to paycheck. Andrew says either earning more money or cutting back on your spending can help you avoid this. This can include canceling subscriptions, reducing how often you eat out, and setting a budget for certain spending categories. Getting a second job or learning high-income skills can help bring in more money.
The final mistake people make is spending too much on a home. This specifically refers to the amount of money they’ll pay in interest throughout the life of their home loan. “That’s money that could work for you in investments instead of eating away your capital,” explains Andrew.
Throughout his entrepreneurial journey, Andrew has gained insight into what works and what doesn’t. It’s clear there are a few things aspiring entrepreneurs can learn from Andrew. He shares the lessons he’s learned on hisInstagram and Twitter accounts.
Here are Andrew’s 8 steps to find success:
1) Start by getting extremely good at one (and only one) skill
2) Find a rising market to apply that skill
3) Build income and a team with that skill
4) Diversify your newly created income by investing it
5) Fix your credit and become bankable so you can use leverage to diversify your capital in stable asset classes
6) Once diversified, you can sell your original business or keep it as part of your portfolio
7) Reassess your risk and return. Being in 10 investments each doing 10% monthly is better than 3 investments with 50% monthly returns
8) Give back to communities or causes you are passionate about
Andrew is always looking for the next big thing and wants to make sure he invests in it before others do. Viera Walia Capital is one of the few conscious venture capital firms looking specifically at opportunities in digital assets such as cryptocurrencies and blockchain technologies.
They’re often the first movers in emerging technologies because they believe this gives them an edge when investing in these markets. This philosophy helped Andrew and his team grow Viera Walia Capital from nothing to a thriving $70M firm in just 2 years.
Andrew’s mission is to collaborate with more investors and startups to leverage new tech developments and emerging asset classes. He also hopes to set trends and evolve the conscious venture capital space.
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