1A Chasidish Businessman Who Came to America with Nothing and Rose to Success
Rabbi Yonason Schwartz shared his fascinating journey on the Kosher Money podcast. From humble beginnings to building a multi-million-dollar toy business, his story is a testament to grit, faith, and strategic thinking. Here are the key takeaways.
1. Adapting to Changing Circumstances
Schwartz’s early career saw him working in roles ranging from a butcher to a badchan (a wedding entertainer). However, he realized the need to pivot when the entertainment market grew crowded. Identifying a new opportunity, he entered the toy industry, building a network of retail stores and partnerships. His approach underscores the importance of adaptability in entrepreneurship.
• Key Lesson: Evaluate the longevity of your career path and pivot when necessary to maintain relevance.
2. The Value of Incremental Growth
Rather than rushing into success, Schwartz emphasized the power of “baby steps.” Starting small, borrowing wisely, and repaying promptly helped him build credit and scale his business sustainably.
• Key Lesson: Sustainable success is often achieved through incremental growth, not overnight leaps.
3. Leveraging Networks for Growth
Rabbi Schwartz stressed the importance of community support and networking. Whether through formal organizations or personal connections, he sought advice and loans to build his business. Organizations and WhatsApp groups have played a vital role in enabling growth and collaboration; don’t sleep on this!
• Key Lesson: Networking and seeking guidance can unlock opportunities that might otherwise be inaccessible.
4. Financial Discipline and Delegation
Schwartz’s advice on managing a business revolves around recognizing personal strengths and delegating tasks. By trusting professionals for areas like accounting and logistics, he ensured efficiency and focused on what he did best.
• Key Lesson: Recognize what you don’t know and delegate those responsibilities to experts.
5. Living Within Means
Addressing the financial pressures in the Jewish community, Schwartz emphasized the importance of balancing traditions with practicality. Lavish chasunahs and gifts should not come at the expense of financial ruin. He is very passionate about this!
• Key Lesson: Adjust how you behave to align with economic realities, and educate your children about living within their means.
Rabbi Yonason Schwartz’s journey is a reminder that with determination, seichel, and siyata dishmaya, it’s possible to overcome challenges and build something meaningful. His story isn’t just about business—it’s about living a life of purpose, staying true to your values, and remembering that success is built step by step. Whether it’s in parnassah or in life, his message is clear: take it slow, stay focused, and trust that Hashem will guide the way.