Dmitriy emphasizes team synergy, precise market targeting, and adaptive belief in entrepreneurial ideas for aspiring business leaders in today’s Entrepreneur Story. 

As an avid entrepreneur from a young age, Dmitriy has always possessed a knack for identifying opportunities and creating solutions that resonate with both businesses and individuals. Dmitriy Peregudov is the visionary entrepreneur, Founder, and Chief Gifting Expert behind Giftsenda, where a world of innovative gifting solutions awaits.

What are three things every entrepreneur should know?

The first big thing Dmitriy believes every entrepreneur should know, that didn’t come to him right away, is the importance of building a solid team as well as knowing how to do so. Whether it’s a founding team or people you hire, it’s important that you create a team based on both skill and shared values. 

Fitting together as people who work well and enjoy the process together is key. 

Next, Dmitriy highlighted the significance of appropriately sizing the market opportunity. Many entrepreneurs initially perceive the market as an expansive and limitless space they should immediately pursue and make the mistake of attempting to target a broad market right from the start. Dmitriy believes that a more effective approach involves assessing the opportunity from a smaller and more defined perspective. 

Starting with a small, well-defined market segment is crucial for concentrated effort and focus.

Lastly, Dmitriy emphasized the importance of believing in your idea as an entrepreneur. This isn’t necessarily a skill you can learn, you need to be sure about your concept and confident in your ability to create, market, and sell it. This requires patience and resilience – two things we’ve heard being highlighted before on Entrepreneur Stories. Additionally, being ready to pivot your business strategy when necessary demonstrates a balanced approach.

Believing in your idea, and knowing when to pivot it if necessary, will lead to success. 

What problem does your business solve and who are its customers?

Dmitriy’s business, Giftsenda, addresses the challenge of efficiently sending gifts to customers, clients, business partners, and teams located overseas. They streamline the gifting process, providing an automated solution that enables businesses to easily choose and send gifts starting from as low as five dollars and going up to a higher budget for VIP-level gifts.

The platform caters to various business needs, such as appreciating customers, celebrating the holidays, closing deals, expressing gratitude, or initiating conversations with potential leads – all necessary but sometimes overlooked parts of a business.

The platform offers a valuable solution for businesses aiming to establish a personal connection and initiate meaningful conversations with potential leads or clients both locally and internationally.

Utilizing gifting as a thoughtful and engaging approach ultimately fosters positive business relationships. Dmitiry gave a valuable piece of advice: instead of blindly gifting to everyone on your lead list, send an email invitation with a gift link.

Recipients can then accept, decline, or even swap the gift to something more suitable, like a fruit basket for diabetics or a different gift card. This ensures a thoughtful and personalized gifting experience, with the potential of nurturing a lead into a customer.

Additionally, gift senders have the ability to learn more about what their recipients enjoy and don’t enjoy, further tailoring the gifting experience over time.

What inspired you to become an Entrepreneur?

Dmitriy had always been drawn to the idea of having his own business since childhood. He enjoyed exploring various entrepreneurial ideas, from selling things like water as a kid to finding ways to make extra money as a teenager.

Therefore, when Dmitriy immigrated to the US in his early 20s, he arrived with a strong entrepreneurial spirit.

The inspiration to start Giftsenda came from recognizing a gap in the market. After encountering challenges in finding a comprehensive solution for international gifting, Dmitriy saw the opportunity to create a platform that catered to both B2B and B2C customers, filling a need in the fragmented market.

The initial focus was on gift baskets, and the platform evolved to encompass a broader range of gifts, including gift cards, certificates, and experience gifts. The goal was not just to provide gifts but to offer an automated and customizable gifting experience, integrating seamlessly with various platforms to enhance the gifting process for both individuals and businesses.

Knowing what you know now, how would you have spent a million dollars when you first started your business?

If Dmitriy had received a million-dollar investment at the start of his business, he would have taken a cautious approach (like a few other Entrepreneurs in previous stories).

Rather than spending the entire sum quickly, he would have started with a very focused fraction to test the waters on a small scale. Dmitriy would have focused on experimenting within specific geographic markets, gradually expanding based on the learning and confidence gained from the market’s response. He emphasized starting with minimal investment, scaling up slowly, and learning from mistakes along the way.

Dmitriy also stressed the importance of allowing time for ideas to settle, considering that even with significant capital, rushing the process may lead to missteps. He acknowledged the need for a balanced approach, giving due consideration to market reactions and involving the team in decision-making to ensure the right direction for the business.

Ultimately, he emphasized that success in entrepreneurship isn’t solely about the money; it’s about strategy, patience, and effective execution. We couldn’t agree more!

What is your proudest accomplishment as an Entrepreneur?

Dmitriy’s proudest accomplishment as an entrepreneur lies in the success of building a cohesive and value-driven team, something that speaks to his first point of the things he believes every entrepreneur should know. 

He feels fortunate to have aligned with individuals who share the same core values and passion for creating something meaningful together. The journey from the formation of his first business to the growth of Giftsend was marked by a deliberate focus on understanding and nurturing team dynamics.

As mentioned above in the first question, Dmitriy believes that understanding the importance of having a team that not only possesses the necessary skills but also resonates with the mission and values of the company has been pivotal. He highly values the collaboration and collective mindset that his team embodies. 

For him, the ultimate success in entrepreneurship is the result of great ideas combined with the right team to bring those ideas to fruition, making a positive impact on both the business and the lives of the team members.

What big goals are you looking to achieve?

Dmitriy aims for Giftsenda to grow sustainably in the next year, striking a balance between expansion and not overburdening the team. The challenge with this lies in managing the seasonality of the business, particularly during holidays like Christmas and winter, and strategizing to sustain a steady level of activity throughout the year.

Another objective of his is to enhance the baseline workload, aiming for a consistent flow of business rather than extreme peaks and valleys. Giftsenda grapples with substantial spikes in business during specific periods, and Dmitriy seeks ways to level out this fluctuation, creating a more predictable workload for the team.

Additionally, finding the right customers is crucial – those who value the service provided and see gifting as more than a perfunctory act. Dmitriy is seeking customers who appreciate the meaningful and human aspect of gifting, going beyond mere transactions.

Are you a Business Owner, Founder, CEO, or President yourself? Your unique journey holds valuable lessons for fellow visionaries and budding business owners. Let’s inspire, learn, and shape the future of entrepreneurship – one conversation at a time.

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