Summary:
Kasriel Shemtov brings 40+ years of business experience to mentor young entrepreneurs at CHYE
Young entrepreneurs often struggle with cash flow, partnerships, and scaling without clear financial understanding
Practical, real-world advice over theoretical knowledge is key to navigating business challenges
Conflict resolution starts with clear agreements and empathetic, structured problem-solving
Efficiency and crisis management require deep operational understanding and calm assessment
Mentorship transforms entrepreneurs from overwhelmed to confident with actionable plans
Kasriel Shemtov, a seasoned entrepreneur with over 40 years of experience, is now dedicating his time to mentor the next generation of business owners in Crown Heights through the Crown Heights Young Entrepreneurs (CHYE) program. His expertise spans across manufacturing, sales, import, conflict resolution, and property management, making him a invaluable resource for young entrepreneurs.
The Journey of a Mentor
Kasriel's journey began in manufacturing, eventually leading him to roles in HR and corporate management. His career took a turn towards importing, where he became a leading figure in the automotive first aid kits market in the U.S. His diverse experience has equipped him with unique insights into streamlining operations, managing teams, and navigating the complexities of international supply chains.
Common Challenges for Young Entrepreneurs
Many young entrepreneurs enter the business world with passion but lack the practical knowledge to sustain their ventures. Cash flow management, partnership conflicts, and scaling sustainably are among the top challenges they face. Kasriel emphasizes the importance of understanding financials deeply, advocating for a line-by-line examination to ensure profitability.
Practical Advice for Overcoming Obstacles
Kasriel shares a story of a business owner who realized his venture wasn't profitable only after a detailed financial review. This moment of clarity led to restructuring pricing strategies, a move that might reduce customer numbers but ensures profitability. Kasriel's approach is rooted in practical, real-world advice, steering entrepreneurs away from theoretical pitfalls.
Conflict Resolution and Partnership Guidance
Miscommunication and unclear agreements are at the heart of most conflicts. Kasriel advises getting everything in writing, from partnership agreements to exit strategies. His method involves listening without interruption, breaking problems into manageable parts, and focusing on mutual goals.
Efficiency and Crisis Management
Efficiency, according to Kasriel, starts with a thorough understanding of one's operations. He highlights the importance of tracking numbers—customers, expenses, and profits—to make informed decisions. In times of crisis, staying calm and conducting a clear-eyed assessment of the situation is crucial.
The Rewards of Mentorship
The most fulfilling aspect of Kasriel's work is witnessing the transformation in entrepreneurs he mentors—from overwhelmed to confident, with a solid plan in hand. His final advice to young entrepreneurs is to never stop learning, build resilience, and surround themselves with supportive yet challenging individuals.
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