Eric Blue’s Launch of Nevly Stems from Financial Struggles during His Childhood
Every entrepreneur develops their drive based on different motivators. Eric Blue might not have realized it then, but his family’s history was a huge inspiration for what he does for a living now. After working in the corporate world, Eric Blue launched Nevly in 2021.
Currently, the Nevly team is working on a user-friendly personal finance super app that aims to improve the situation of those dealing with financial difficulties. The goal is to build up a person’s financial health. Nevly is the type of app Eric Blue would have found valuable decades ago had it been around.
Early-Life Struggles in New Orleans
Eric Blue grew up in New Orleans with his single mother. Child protection services took Eric Blue and his siblings from his mother early in his life as she dealt with personal challenges. She spent eight years away from her children, attempting to get her life together by breaking a substance abuse habit and finding steady employment to support her kids.
It was a struggle for Blue and everyone else in the family, but he reunited with his mother at 12. The remaining siblings were old enough to move out and live independently, so it became a household of just his mother and himself.
Still, financial struggles continued throughout middle and high school. Blue witnessed his mother in a seemingly endless cycle of dire financial situations, often ensnared by debt. Though she worked hard, poor financial health haunted her. This led to several evictions and general uncertainty for her and Eric.
Finding a Ticket Out
Despite the many challenges, Blue focused his efforts and excelled academically. He went to college at Xavier University in Louisiana, majoring in Mathematics. After spending time working as an investment banker, he earned acceptance to the University of Texas School of Law.
The move to Texas provided him with many career opportunities, and his law degree landed him a job working with two top international law firms. He focused on capital markets and M&A cash transactions.
Blue’s professional success still seemed to be missing something. In interviews, Blue talked about how in the past, he felt inadequate, lacked a certain level of self-worth, and worked without any real purpose. Looking for answers, he eventually started assembling a business model that became Nevly.
Some early inspiration for his business model started when he was only a child. However, everything came together in 2020.
Like any entrepreneur, Eric spent long nights and 100-hour weeks to launch his product, Nevly. Eric has a lot of passion for the project, knowing that he can impact someone growing up in a similar situation and help them piece everything together.
Blue has incredible confidence in where Nevly stands today and where it can go with the mobile app (launching officially in 2023). He’s remained patient as he adds new features and works on creating a perfect product.
Overall, having tools implemented in a standalone mobile app makes things easier for users. They don’t have to bounce around apps to handle daily, weekly, and monthly tasks. Therefore, Nevly truly helps individuals do money differently.
What Other Entrepreneurs Can Learn From Eric Blue
Eric Blue’s success with Nevly is instructive for entrepreneurs in a variety of industries. Starting a business is a risk for many and is always challenging. Blue has helped entrepreneurs by advising them and offering his whiz-kid strategies for starting and growing a business.
In an interview with IdeaMensch, he goes into detail about what his typical day looks like and how he stays productive. Like many entrepreneurs, he wakes up early and spends time on self-improvement and exercise before beginning his workday. Having a work-life balance can help entrepreneurs avoid burnout.
He also suggests finding something that drives an entrepreneur. Eric Blue states that he finds joy and drive in the things he’s working on. Entrepreneurs only chasing money might not have that same type of passion.
As far as operating Nevly as a business, Blue uses the Hybrid 2.0 Working Model. He’s seen increased productivity while providing employees flexibility. With this setup, they spend Tuesday, Wednesday, and Thursday in the office. Work is remote on Mondays, and there is no work on Fridays. Employees have more focus and get things done when workdays shrink to three days in the office. One look at this company, and it’s clear this whiz-kid seeks to surround himself with other hotshot whiz-kids looking to make a difference by delivering significant innovations to a once-stale financial technologies sector.
Blue is a big believer in patience when running a business. There are a lot of people with the desire to be as successful as possible in the shortest amount of time. While there’s nothing wrong with having success right away, it’s unrealistic for most entrepreneurs to expect that.
Doing things properly and focusing on hard work instead of instant validation is essential. Seeing the long-term value in businesses will put less pressure on results.
Whether it’s impacting the fintech industry or seeing other entrepreneurs succeed, Eric Blue remains humble about what he’s been able to accomplish with Nevly. He hopes that sharing his story will inspire others to chase their dreams and go after what they want to do as an entrepreneur.