Empowering Entrepreneurs Navigating Language Barriers and Cultural Differences
How did our guest's experience in Budapest and his involvement in the family's business venture shape his understanding of international business, cultural dynamics, and overcoming obstacles in a foreign market?
We've got a special guest on the episode – Eugene Gershman, the big boss at GIS Development and GIS Residential Construction. We're diving into his story, from growing up in Moscow to making moves in the US real estate scene. Get ready to hear about his hands-on approach, his plans for the future, and how his family has shaped his hustle.
Tech Startup Dreams: "I've wanted to create some new efficient and computerized, trading and investing platform, and it all sounded great. Yeah. I was thinking like this like a tech startup, here in Seattle."
— Eugene Gershman (EG)
Key Takeaways
1. Family Influence: Eugene's upbringing in an entrepreneurial environment and his father's successful business in Russia significantly influenced his career path and approach to entrepreneurship.
2. Adaptability: Eugene's experience of moving to the US, learning English, and assimilating to American culture reflects the importance of adaptability in navigating challenges and pursuing entrepreneurial opportunities in new environments.
3. Confidence and Resilience: Overcoming skepticism and stereotypes in the real estate industry, Eugene learned to project confidence and dress professionally to earn respect, highlighting the importance of resilience and self-assuredness in entrepreneurship.
4. Hands-On Leadership: Eugene's hands-on approach to project management and decision-making emphasizes the importance of understanding Excel models and actively engaging in the operational aspects of the business.
5. Embracing Challenges: As an entrepreneur, Eugene embraces challenges, viewing them as opportunities for growth, problem-solving, and innovation, exemplifying the mindset necessary for navigating business obstacles.
6. Learning through Experience: Eugene's journey of learning about technology and computers through trial and error reflects the value of experiential learning and embracing curiosity in entrepreneurship.
7. Strategic Partnerships: The focus on strengthening partnerships with property owners and enhancing fundraising capabilities underscores the significance of strategic alliances and financial acumen in real estate development.
8. Entrepreneurial Vision: Eugene sees himself as an artist and visionary, emphasizing the importance of passion, creativity, and a team that enjoys challenges in driving entrepreneurial endeavors.
9. Persistence and Patience: The challenges faced in Budapest, including obtaining building permits and navigating local politics, demonstrate the need for persistence and patience when overcoming obstacles in international business ventures.
10. Succession Planning: The consideration of future exit strategies and the potential evolution of a project-dependent business into an ongoing, saleable enterprise highlights the importance of long-term planning and succession in family businesses.
Memorable Moments
03:30 Learning English, adapting to American culture.
09:17 Struggled with English and ended up with economics as a major.
11:21 Evening student launches tech startup, Hungary construction branch.
14:46 Navigating between English and Russian for staff.
20:02 Evaluated property, planned project, partnership, development, architect hired.
25:10 Learned about computers naturally through curiosity and experimentation.
26:18 Entrepreneurs need a fearless, adaptable mindset.
32:06 Family business impact on entrepreneurial tendencies discussed.
34:26 Navigating journey, seizing opportunities, considering future options.
37:09 Real estate development appeals to various investors.
42:44 GIS companies focusing on property development and marketing.
Eugene Gershman (EG) is an innovative entrepreneur and business leader. During his MBA studies, he developed a vision for a new type of broker-dealer and investing platform. However, a surprising opportunity arose when his father introduced him to a project in Budapest, Hungary. Eugene seized the chance to set up a branch of his family's construction office in Budapest, embarking on an unexpected and exciting new chapter in his professional journey.
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