How Two Immigrants Built a $4 Million Business–and What It Teaches Us About Immigrant Entrepreneurs
Here’s the story of two immigrants who have built $4 million business — and how it’s benefiting not just them, but all of us.
PHOTO CREDIT: Getty Images
We're a country founded by immigrants, but lately, conflicting modes of rhetoric have fractured our perspectives on who immigrants really are, and what they do for our nation. Certainly, no two immigration stories are the same, but you don't have to look far to see how big of an economic and cultural impact even a single extranational citizen can make.
Meet Eddie and David
Eddie Nuvakhov and David Levy are the co-founders of LNC Productions, a video advertising agency and marketing agency headquartered in New York City. Today it's evaluated at $4,000,000, based on a $1,000,000 investment back in 2015, and it's working with high-profile clients to up their marketing game for the digital age.
Nuvakhov is an immigrant from Israel, and Levy is an immigrant from Morocco. They came together in 2012 to found the business, and began operations in January 2013. Specializing in video marketing applications like explainer, brand, and commercial videos, LNC Productions is unique in the marketing world because of its one-stop approach to video production; the company offers creative services such as pre-production, production, and post-production, as well as distribution. The company also operates entirely with an in-house staff of 13 people, including the creative team, production team, and post production team.
It's not easy to start a business, and it's even harder to build one that can hold its own in a highly competitive niche. "Entrepreneurship is a very challenging path. The levels of stress and the instability of this journey make many people drop out. We've had good and bad times, but we are happy to consider our journey successful as we keep growing, and undertaking bigger projects and bigger challenges," Nuvakhov tells me.
It's even harder to build one as an immigrant, with limited resources and connections in a new country, but the results Nuvakhov and Levy have achieved are exceptional. "One of the greatest characteristics about the United States and its citizens is how they stand behind the "American Dream" and embrace opportunities for everyone like LNC," says Levy.
Thanks to their adaptability in an ever-changing industry, LNC Productions has worked with celebrity clients such as Dr. Oz, Elie Wiesel, Karlie Kloss, and Nigel Barker in addition to international organizations, small businesses, and everything in between. The company is a major supporter of the Make-a-Wish Foundation, producing videos for the organization that highlight its work and achievements, and is actively working to support more non-profits, such as Team Swish and the upcoming documentary Stopping Traffic, raising awareness of the sex trafficking industry.
"Success is not only a product of your hard work and talents, but also a combination of what the country and city are giving you to help you on your journey. We are very thankful for all we've been given, and understand the importance of giving back to the community. As our way to say thank you, and show our appreciation to the community, we enjoy offering our talents and skills to nonprofits that we believe in, as we work together to give back and bring awareness to important causes to those around us," says Levy.
In addition to supporting good causes, LNC Productions has injected millions into its regional economy. "We've been fortunate to apply our talents in New York, an incredible city that has so much to offer. We always dreamt of the possibility of being part of this great community and collaborating with the incredible talents found in this city. We've been fortunate to add many great talents to our team, as well, and we look forward to sustaining that growth," says Nuvakhov.
Why the United States (and New York) Is So Welcoming
The United States is, almost inarguably, the most entrepreneur-friendly country on the planet. It's home to the world's largest consumer market and have free trade agreements with 20 other major world powers. In addition to that, it has amazing infrastructure, supply chain access, advanced technology, and a capitalistic economy that naturally incentivizes entrepreneurs to start new businesses.
New York is even more welcoming, with economic incentives for new business owners, a dense and diverse economy, and a diverse population that can feasibly connect new entrepreneurs with almost anyone they need to get their businesses off the ground.
This is important to note because it's not just incoming immigrants who benefit from their new businesses--it's all of us.
The Startup Impact
The Kauffman Foundation is one of several organizations that have independently found that startups play a massive role in the development and growth of our shared economy. Startups account for about 50 percent of all new jobs created, and because they're able to grow, expand, and encourage spin-offs, they're one of the most powerful forces for economic development. On top of that, startups are often responsible for the innovative new ideas, technologies, and structures that improve our quality of life.
This country will always need new entrepreneurs and will benefit from new startups. What difference does it make if they were born somewhere else?
What Does It Mean?
Not all immigrants come to the United States with the same goals in mind. Yet, with the lucrative business opportunities offered, it's no wonder why so many immigrants come here to start new businesses.
As residents of this country, we should be grateful for these opportunities, and do more to encourage new business development. Not only do these opportunities boost our economy and make us all wealthier (in more ways than one), they help diversify our populations and give us access to new technologies, better ideas, and more cultural perspectives.
This isn't meant to be a politically charged statement; it's just a presentation of evidence. Immigrants have a huge stake in our economy and are capable of doing extraordinary things for our country.