EU Alumnus, Nicolas Verderosa, on Entrepreneurship & Reviving Rural Tourism
Nicolas Verderosa graduated from EU Business School with an MBA in Entrepreneurship in 2020. Despite previously developing his career abroad, living in Latvia, the U.K., the U.S.A. and Spain, he decided to return to his native village in the Irpinia region of southern Italy, where his passion for travel inspired him to launch Ruralis.
Nicolas’ successes in the rural tourism sector have since been celebrated by Forbes and last year, he was selected for the 30 Under 30 in Italy within the social impact category. We were thrilled to catch up with Nicolas and learn how he is using innovative digital solutions to revitalize rural Italy and promote sustainable tourism.
What made you decide to leave your accounting job in New York City to return to your village in Italy?
I’ve always been passionate about entrepreneurship, and it was always my plan to start my journey by studying and working abroad, but there came a moment when I couldn’t resist setting out on my own any longer.
When you start to travel, you become more aware of your surroundings and become more appreciative of your native environment. Every time I returned from my travels, I realized how beautiful my home was. There, I saw opportunity and wonder.
I was still young and thrived off the energy of wanting to start something new. Starting the company in a small town in the mountains of southern Italy was a big challenge, as there was no start-up ecosystem and a lack of innovation in the area. I took a big risk but, as we learn from the basic principles of economics, the higher the risk, the bigger the reward!
What services does your company, Ruralis, offer?
During the initial bootstrapping period between 2019 and 2022, we offered services such as excursions or travel packages, like a travel agency. In 2021, a property owner asked for help uploading his villa to online travel agencies (OTAs). Suddenly, many tourists began arriving in the south and I was losing time trying to find new clients. I realized that there was a gap in the market as there were many holiday properties in the area which had no visibility.
We started out by taking photos for property owners, and have grown into an all-in-one solution for hosts, managing the technical aspects of short term-rental while supporting connections with online travel agencies (OTAs). Ruralis centralizes information from over 100 OTAs, including Airbnb and Booking.com via a user-friendly app, streamline bureaucratic processes, price management and communications, so that owners can concentrate on welcoming guests without the behind-the-scenes hassle.
Could you tell us how you are integrating AI into your tools?
The world is changing quickly and technology is booming, so you can either be afraid of it or use it to your advantage. We are looking for new ways to integrate tech to speed up our service, improve it and reduce the costs in order to scale the business.
We’re utilizing AI to improve communications and pricing strategy, in addition to developing a function that advises property owners to take action and improve the quality of their offering. For example, if a bed mattress is rated as uncomfortable by guests, the app will send a notification to the property owner suggesting that the item should be changed in order to increase bookings and client satisfaction.
What are the biggest challenges facing rural areas?
I would say it is down to infrastructure and depopulation. Younger people tend to escape to the cities to increase their professional opportunities so, there is less innovation taking place in rural areas. This shrinking population is linked to a variety of socio-economic issues. However, the European Union is investing billions of euros to reestablish a balance between urban and rural areas. We have to make an impact on the next generation and create better connections between city and rural environments, developing a more sustainable world in terms of access to employment and housing.
The pandemic brought us many problems, but it also brought important changes. We now have more remote workers, who are able to live in rural areas. Before, it was impossible to start a company in a small town because all of the highly qualified workers had relocated to cities. We are now seeing opportunities when faced with problems and finding more sustainable solutions that support business growth and development outside of large metropolitan areas.
When did you first want to be an entrepreneur?
Ever since I was little, I wanted to be an entrepreneur. I always had lots of fun ideas — I once even wanted to have a lasagna business with my grandmother! When I started studying, my ideas became more rational and practical, and I decided to follow the travel-industry route as that was what I was passionate about. The company has evolved over time, and I think that the idea isn’t the most important factor — it’s the commitment to what you want to do and what you want to achieve. The idea will adapt to the market and its needs.
How was your experience of bootstrapping the company?
I didn’t really have any other options. Europe is not as supportive of entrepreneurs as the U.S.A., we just don’t have the ecosystem here. In southern Italy, many people don’t know what a start-up is!
However, bootstrapping gives you a lot of control over how you invest your money. We know the value of each euro and we ensure that we deliver value to the client, and so from there we are able to reinvest. Bootstrapping takes time but it also gives you lots of experience.
What have been some of your biggest challenges as an entrepreneur?
Every day, there are new challenges. Ultimately, it is about managing the hurdles and finding alternative solutions so that complex situations don’t consume you. Once you have overcome a challenge, you can create value.
How would you describe your leadership style?
At EU Business School, we had a class in which we learned how leadership styles change over time. I learned that it’s important to adapt depending on the situations with which you are presented and the people with whom you work. For me, leadership is about empowerment, and it is something that must evolve over time.
What has been your proudest professional achievement?
Sometimes, I’m hard on myself. I always want to do more and achieve better results, which I think is a good mindset, but it can stop you from appreciating your achievements.
I like to take moments to reflect on my journey. Ruralis is now a team of 20 people, but a year ago there were only five of us, and we have also boosted our stays and sales. So, there is not a specific achievement I am proud of, but many.
Why did you decide to study at EU Business School?
The school gave me a lot of flexibility in terms of content and scheduling. The MBA classes were in the evening, so I was able to study and work on the bootstrapping of my company during the day. It was also exciting to study in another country and interact with other international students.
What did you enjoy most about your studies at EU Business School?
I really enjoyed my lectures. They were very specific to what I needed at the time, were well-structured and powerful in providing you with lots of useful information. I learned a lot during my time there and the guest speakers were very insightful.
