In the past 10-12 months, Moshe Reuven, has risen to international acclaim with a staggering 2 Million followers throughout the world. The young man from South Florida is now a Charting Hip Hop Artist, yet he’s been known as a successful serial entrepreneur and startup executive for quite some time before reaching the charts.
Even by the age of 25 he was able to say he’s been a part of several multi million dollar startups.Moshe went out on his own after Accounting School and presented with several desirable opportunities, such as an opportunity at a respected Accounting firm in Florida, for the journey of continuing the growth of his college upstart.
His team had grown to about 50 people strong, and he decided that he could always be an accountant or a part of the corporate ladder, but his goal of studying accounting was to advance his business IQ tenfold (as accounting is the language of business and part of the bedrock of decision making in business) to build businesses and ventures that he believed in.
By the age of 25 he found himself with an evaluation of his own startup growing from roughly $1M or $2M to a $5M valuation based on investment contracts. Alongside his own company growth, Moshe held executive positions at 2 additional startups that held $MM valuations, one of which combined tech with animal wellbeing, and the other combined tech and the architecture industry.
We sat down with Moshe to learn 3 ways startups can grow their business to reach larger valuations in today’s marketplace.
Believe
One of the biggest roadblocks in people’s ability to build their own businesses is belief, says Moshe. He said that he’s seen where belief can be detrimental in business, as well. Some people shouldn’t venture to be startup founders, and should instead seek to work as an employee (maybe even in a startup). Some businesses take a long time to get to a stage where its profitable, some just aren’t business models with a product market fit. Yet, when entrepreneurs have it right, or at least are justified in starting something up and giving it a try, more often than not, belief if the biggest obstacle. The labor bereau has a statistic on businesses started in the past 15 years, and 50% were still around after 5 years, and 40% after 10 years. This goes to show that building a business is much more feasible than people think. In addition, Moshe suggests that for people and businesses that are the right fit, there’s not a cap
on how much a company can make, whereas an employee can make their salary plus bonuses, which act as a cap. The benefits of belief can get an individual out of the 9-5 if they so choose, but it does come with its risks. However if there’s no belief, there’s no opportunity.
Strategic Agreements
When starting his first venture in college, Moshe was able to formulate agreements that allowed other teammates to build for the future and simultaneously was respectable for what a college startup can offer. As the startup world is predicated on valuations and future benefits of growth, Moshe suggests building your team with contracts that take that into account. Both it requires you to have a team of believers, which will help long term, and people financially incentivized to ensure future results.
Don’t take out loans
The amount of options you have to build as a startup are plentiful when you’re a young entrepreneur. However, it’s very rare when Moshe would suggest a loan is a decent way to start. It keeps the founder locked into something that is uncertain to succeed and that can be difficult on the founder later on if they don’t reach their goals. The startup world is good but is risky therefore a loan can come to hurt more than it can help. However, he does suggest that convertible debt is a strong investment option if it works for your team financially.
As a Hip Hop Artist signed to California’s Fastest Growing Company, Create Music Group, Moshe plans to utilize the insights he’s gathered within the startup world to further his success in music, as well. “Essentially, my hope in being a startup founder was to be able to create anything I thought I should. Whether that be a music career, a charitable fund for institutions I believe in, a tech company, a center to benefit others spiritually. Being a founder means you can build anything you want or need to create. Unfortunately to most people they just think people involved in startups are just in love with money and they don’t see it could actually be a higher calling for much more than that.” As for Moshe Reuven Sheradsky, we’ve just seen the beginning of what his creativity can contrive.
Disclaimer
Comments expressed here do not reflect the opinions of Vanguard newspapers or any employee thereof.