Meet Yanik Silver, the son of a Russian immigrant and the founder of six lucrative internet companies. A true “serial entrepreneur,” Silver’s most recent venture is called Maverick1000, an invitation-only network of high-caliber entrepreneurs. In his interview with WashingtonExec, Silver named “Sir Richard Branson with 300+ companies [as]a big inspiration.” Silver also touched upon his “love of entrepreneurship” and what he believes most CEOs do not understand about social media: “leverage.” A business chameleon, we can all learn something from this internet-millionaire who occasionally considers himself a “tech dunce.”
WashingtonExec: Please tell us a little bit about your background, business model and some of your current projects.
Yanik Silver: My family came over from Russia when I was 2 ½ and we have the “typical” immigrant success story. My dad had $256 in his pocket for me, my mom and my grandmother and, of course, he didn’t speak much English. Within two years of arriving here, my dad started his own medical equipment sales and service company from our apartment. I grew up working in the family business skipping out on living at the beach with my friends so I could sell medical equipment. I didn’t realize at the time but doing telemarketing at age 14 and then out on the road at 16 – gave me a huge advantage. In 1999 I struggled with the decision to leave my father’s company but decided to go on my own.
My first success involved selling content – everything from ebooks and home study courses to exclusive events and workshops. I’ve successfully bootstrapped 8 different product and service ideas hitting the million-dollar sales mark from scratch without funding, taking on debt or even having a real business plan. Most recently, I’ve started a network of high-caliber entrepreneurs called Maverick1000 to connect and support each other’s biggest business. lifestyle and impact goals.
WashingtonExec: How many companies have you started? Do you have a “golden” career goal number?
Yanik Silver: I’ve started 6 different companies. I do not have a career goal but certainly Sir Richard Branson with 300+ companies is a big inspiration. Ideally, I’m looking for more superstar operating partners because I have lots of additional ideas! (So ping me if that’s you.)
WashingtonExec: What drew you to entrepreneurship? Why start so multiple companies instead of one or two?
Yanik Silver: I love so many things about entrepreneurship. I believe in the power of entrepreneurship to create value, innovation and positive change in the world. Value to me is one of those natural laws that you cannot help but be compensated based on the value you deliver. As an entrepreneur if you are not positively striving to deliver a multiple of value for the price you charge – you’ll soon be out of business. Really out of that notion of value creates the forced innovation and positive change. Plus, being an entrepreneur is about freedom. Freedom is write your own ticket by combining your unique skills and passions to bring real meaning to your work.
The reason I started multiple companies is because I love working with new ideas. My core strength is around the startup of an idea and helping it get out there and leveraging hidden assets. So I just couldn’t be stuck in one thing.
WashingtonExec: What is something you think most CEO’s do not understand about the internet/social media?
Yanik Silver: The power of leverage. I came from a direct response background and the Internet has proven to be one of the greatest direct response opportunities of our lifetimes. We can track to the penny on ad spends and quickly run different split tests to see how much ‘higher is high’ with our conversions. It’s incredibly exciting. What’s more, I also think most CEOs look at betting too much on ventures that they believe will work. Online there are a lot of ways to make ‘small bets’ and test the marketplace’s response to see if you have traction or not.
WashingtonExec: How can you be a “tech dunce” and start a ton of internet companies?
Yanik Silver: There are lot of people who have excellent tech skills that you can hire. To me, it’s more important to have the vision and direction.
WashingtonExec: You have a strong personal brand. How do you distinguish between promoting your personal brand and your companies?
Yanik Silver: For some of my other first projects, I am the brand and the recognized expert so there was no demarcation between me or the brand. But that leaves you in a precarious position if you want to exit or transition. That’s why I’ve tried to imprint my DNA on my recent Maverick companies but not be the only face of the brand.
WashingtonExec: What is the best piece of advice you have ever received?
Yanik Silver: Just do one proactive thing every single day to move your business forward. That’s it. It is so simple but there are many times when we end our day and have to think if we’ve actually moved the ball forward or not.