The migration post-World War II from Europe brought to the Americas millions of tradesmen, an important component of economic growth and expansion for countries like Canada, the US, Venezuela, Argentina, Brazil and Uruguay, to name a few. Today we all recognize the role that “selected” migration plays as a stimulus for growth [i.e. today the Canadian Oil and Gas industry employs over 3,000 Venezuelans in Alberta, most of them were fired from the state-run oil corporation, Petróleos de Venezuela]

Back in 1953, my dad [Francesco Russo, who was a shoemaker by trade and also learned about the jewelry family business in Italy] and my grandfather started their tour through the Americas, trying to find that special place to call home. After exploring NYC and Buenos Aires, someone suggested to visit Venezuela: the country of eternal spring. That’s where the entrepreneurial venture started for both of them, in the capital city of Caracas, my home town.

I could continue the story by narrating how they survived without speaking Spanish and not finding “real nonna’s food”, or why my dad couldn’t see my grandma again backhome, but the purpose of this article is to share what I have learned from a man that has been an entrepreneur for 60 Years!
    1. Get commercial real estate early in your life: My father has been always against leasing, unless you don’t have any other option to start your business. He always recommends to save enough to have a decent down payment and to convert personal expenses into valid business deductions.
    2. You won’t get rich overnight…. but you need to start a business with regular cash inflow! The secret to have a comfortable life: self- discipline, get up early every day and stay focused.
    3. Make your customers fall in love with your business, treat them right and reward them often. My dad is well known for his business gift baskets at Christmas, jam-packed full of Italian gourmet products and wine. At his stores, early bird customers get complimentary coffee and, of course, they always get to chat with him.
    4. It’s all about who you know and who knows you: According to Francesco, you should know key people at all levels: C Level executives, decision makers, someone’s driver, the priest, your city councilor …. and the valet parking guy!
    5. Always look your best even through rough times: this one I have applied it several times as an immigrant, and it is true, you can attract what you want by projecting it. In North America is very easy to recreate a wealthy image thanks to access to credit!
    6. Diversify your portfolio: you should always have a second or a third business and save/invest those earnings - even if small- and carefully consider who you partner with.
    7. Give back to your community: my father never had the opportunity to go to college, but he truly believes in education as a way to succeed in the new economy. I cannot thank enough to my parents for all the moral and financial resources that they made available for us to become accomplished professionals. They have also helped over 50 people with tuition fees, books and campus accommodation expenses. I can proudly say that my parents have helped many times and many people to accomplish milestones in their careers paths.
Francesco is now on his 80’s, he has more patience to tell his stories and give you real advise; he never got rich but as a family we always have it all: support and love from an exemplar immigrant couple that we are proud of!
Thanks dad!