This year, Paul received an award as the Best Entrepreneur of the Year by the Russian Speaking Community. How does one start a business without big investments, overcome difficulties and find motivation? This charming and talented businessman, Paul Borodenko, shares his insight.
Paul Borodenko is a self-made businessman who started as a part-time worker at Safeway. After a couple of years, he built three successful companies: Legacy Cleaning Services Spectrum One, Inc. Scavolini Store Roseville.
How did your business journey begin?
I remember since I was young, I always enjoyed engaging in some sort of business transactons/negotiations with my peers. It was all on the smaller scale, of course, yet I knew it was definitely in me. At the age of 25, I leamed some major life lessons. Recovering from my drug-addiction, I successfully completed a Christian based rehabilitation program. I turned my life around 180 degrees and realized my passion was for business. While working part-time at Safeway, I enrolled in a Business Administration program at a private local college (MTI). It was a two-year program and tuition for the first year only was approx. $15,000. Of course, I didn’t have that kind of money at that time, so I had to take out a student loan, which was a huge leap of faith for me. I was able to receive a grant from the Government due to my low income, which covered about half of the tuition’s cost. And then my business joumey began…
Did you have a business mentor during your work and studies?
Yes, I had a mentor who helped me in my first business. During my studies, I was offered to work part-time as an administrator for a local construction company owned by a Russian-American. I enjoyed working closely with the owner and learned so much during my time there. Eventually the owner became a good friend and a great mentor.While working for this company I opened up my first business “Legacy Cleaning Services” I was servicing this company’s projects with post-construction cleanups.This is how I first started making money as a businessman. Soon after, I realized it was time for me to fully spread my wings and with the owners blessing, in October 2013 I opened up my own Construction Company named Spectrum One, Inc.
What are the main principles to be followed in order to create a successful company?
I believe the number one principal for a successful business is integrity. Followed by a good work ethic and willingness to go the extra mile for your team and most importantly, your client!
Many businessmen adhere to the rules of focus. That is, they give all their strength to one project. You have several successful companies: Legacy Services, Spectrum, and Scavolini. How do you manage so many businesses and develop them?
Absolutely, focus is everything! That is why I would not recommend opening up several businesses all at once. After my first company was well established and had good systems in place, only then I opened up my second company and eventually my third. Having the right people in place, providing incentives so no micro-management is required and proper systems that allow minimal involvement on my end, allowed me to build and successfully maintain multiple endeavors. A great team and a great structure are the secrets to success!