Looking at what Michael Peres has accomplished over the past few years, it is hard to believe he started out at a great disadvantage. He sits at the helm of a multidisciplinary group of companies that serve more than 400 clients. His startups run the gamut from software development to web content to social media marketing to online publications. And he is currently helping other budding entrepreneurs reach their highest potential by guiding them using an unconventional model he has developed over time. Not one to settle, Michael is constantly looking for ways to leverage technological advantages to the growth of his ventures.
Mikey Peres was just nine years old when he was diagnosed with Attention Deficit Hyperactivity Disorder (ADHD). Unable to focus on tasks or concentrate in class, Peres’ academic future hung in the balance. But instead of surrendering to fate, the Montreal native developed mechanisms to boost his concentration alongside unique study routines. Thanks to these lifestyle adjustments and plenty of determination, he was able to obtain not one, but multiple degrees in computer science, mathematics, and Jewish studies. In addition to this, Michael has embarked on a successful career as a software engineer.
But his technical skills are not what got the attention of renowned publications like Forbes. It’s Michael’s prowess as a startup guru that has made the world of the business sit up and take notice. And he owes his mastery of entrepreneurship to the very impediment that threatened to nip his educational development in the bud at a very early stage. ADHD taught Michael Peres to think outside the box from a young age and this out-the-box approach to problem-solving is the cornerstone of his success. It is an ideology that permeates the nuggets of wisdom that he shares with upcoming startup owners. Here are some of the guiding pillars of Peres’ business model:
Give, give, give, then ask
This principle encourages business owners to offer their services or expertise for free before looking to make a profit. In Peres’ case, he offered 250,000 GMAT candidates a better chance to ace their exam by using a study project that he availed for free. Word of this was spread to candidates via a viral LinkedIn campaign. While he didn’t make money directly from this campaign, it wasn’t a wasted effort; he was able to build a strong network for future business. Besides building a contact list of potential future clients, Peres added a wildly successful social media campaign to his social media marketing portfolio.
Embrace scalable business models
Michael is an advocate for business models that can grow exponentially in the long-run. Again, it’s a question of sacrificing short-term profits for sustainable, growing income in the future. Instead of a business model that is high in immediate income, but is also capital intensive, Peres would rather make an initial investment that appears high, but which will allow him to continue making steady income years down the line without any further investment.
Don’t forego opportunities that appear small in the present. Cultivated with passion and diligence, such humble beginnings may blossom into highly profitable ventures in the not-too-distant future. This is what happened with Israel Now, an online news platform focused on the political goings-on in Israel and the Middle East. When he started it on the tail end of 2019, Peres didn’t know that, just a few months later, the publication would amass a readership of three million.
The above are just a few of the startup lessons Michael Peres shares with upcoming entrepreneurs. But the most powerful lesson many of them can draw is how one can rise above adversity to enjoy great success and inspire a generation of future business leaders.