Roman Romashchenko

From Military Institute to Building a Business in the United States

I’m Roman Romashchenko, founder of Early upgrade, a company that buys, refurbishes, and sells electronics in the United States. We help companies dispose of equipment safely, take responsibility for protecting confidential information, and return refurbished devices to the market.

My life could have turned out very differently. I grew up in a family that valued education, discipline, and public service. My mother is a Doctor of Pedagogical Sciences, so from childhood I was taught to study hard and approach every task responsibly.

After school, I enrolled in a military lyceum in Chernihiv, and later in a military institute in Kyiv. I studied on a state-funded place, successfully completed my bachelor’s degree, and was due to sign a contract requiring five years of service after graduation. That was when I made a decision that would shape my entire future. I refused to sign the contract and decided to build my own business. It was a difficult choice, because I had to stand up for my right to determine my own career path.

My first entrepreneurial skills began to develop while I was still studying. After class, I worked as a consultant at a computer store and quickly noticed a problem no one was addressing. People bought expensive computers but couldn’t use them without an operating system and software being installed. I went back to the dormitory and asked who knew how to install Windows. A few guys volunteered. I offered them a simple arrangement: I would find customers, they would do the work, and we would split the profit, with 70% for me and 30% for them. That became my first steady income as an entrepreneur. That was when I realized that business starts with being able to spot a customer need and offer a solution.

Over time, the small project grew into an equipment repair service, and later into a network of service centers across Ukraine, as well as consulting for well-known retailers and electronics brands on improving warranty service and reducing manufacturing defects. After that, I discovered a new area: buying faulty electronics in the United States, refurbishing them in Ukraine, and then selling them with a warranty. When we moved to America, I sold my previous business and began developing a new company in the American market.

Persistence, courage, and the ability to build processes

What key skills helped you launch your business?

The most important skill that helped me build my business was persistence. There were many times when I wanted to give up, but the desire to keep moving forward helped me find new opportunities, even after setbacks.

But I realize that at first I lacked confidence in sales. I was too afraid of hearing «no» from certain customers and often missed opportunities because of my own indecision. With experience came the realization that rejection is a natural part of entrepreneurship. If I had been more courageous in negotiations and sales back then, the business might have grown much faster.

A robbed store, a cash-flow gap, and difficult decisions

What were the toughest challenges you faced in the early years? 

The first serious test came when I hired a salesperson and went away for a two-week vacation. When I returned to my store, I found the premises empty. The equipment and cash were gone, and most of the inventory had been supplied on deferred payment terms. Rather than go bankrupt, I honestly explained the situation to my partners and asked them to supply me with equipment on credit again. They trusted me, provided new inventory, and I gradually repaid all the debts.

The second challenge was fulfilling a large corporate order when I had neither sufficient experience nor resources of my own. But my suppliers’ trust enabled me to complete the contract, which became the first major impetus for the company’s growth. 

The crisis forced me to rebuild the business completely

What crises has your business faced, and how did you overcome them?

One of the most serious crises was a major cash-flow gap that reached approximately 6 months of company revenue. At that point, the business was on the verge of closing.

Instead of trying to keep every area of the business going, I completely rethought the business model. I applied the Pareto principle: I dropped 80% of the areas that generated minimal profit and kept only the 20% that created the company’s core value. This helped stabilize the financial situation and put the business back on a growth trajectory.

Cutting what’s unnecessary: the decision that accelerated growth

Which decisions proved most effective in growing the company?

The biggest boost to growth came from my ability to make unpopular decisions. At a certain point, I stopped judging the business emotionally and began looking exclusively at the numbers. That was when I decided to close branches that were operating at a loss, even though it was emotionally difficult to do so. 

Don’t rush to step away from operational management

What mistake do you now consider your most valuable learning experience?

At one point, I decided too early to step away from operational management. Influenced by the popular business idea that an owner shouldn’t be involved in day-to-day operations, I hired a chief operating officer, even though the company wasn’t ready for it.

As a result, I continued to be involved in the business every day while also spending significant sums on a new management position. Some decisions proved wrong, and I was still the one ultimately responsible. Today, I’m convinced that you should step away from operational management only when the business has sufficiently strong processes and a capable team. Until then, the owner needs to stay involved in the company’s development.

From Student Side Jobs to Million-Dollar Turnover

How did you earn your first $100?

I earned my first money as a student, working during an election campaign. We distributed campaign materials and were paid for the work we did. 

How did you earn your first $1 000?

I earned my first thousand dollars while I was still studying, doing side jobs in computer equipment and providing clients with additional services.

How did you earn your first $10 000?

My first ten thousand dollars came from a major contract with a chain of stores. After that, the business began to scale quickly, and I realized I could work with large clients.

How did you earn your first $100 000?

My first hundred thousand dollars became possible through a business model of buying nonfunctional electronics, refurbishing them, and then reselling them. This line of business became the foundation for the company's future growth.

How did you earn your first $1 000 000?

The business reached its first million dollars in company turnover. This was the result of years of development, scaling operations, and working in international markets.

Build processes so your business can run without constant oversight

I can best help entrepreneurs build operational processes. Over the years, I have learned that a good system should work in such a way that the owner does not have to get involved in every decision all the time.

I always try to make sure that any task can be handed over to someone else without constant explanations or supervision. I see this as one of my main strengths: creating clear processes that scale with the business.

Describe your processes first, then automate them

Your experience: how do you systematize a business?

Systematization does not start with software or a customer relationship management system, but with understanding your own processes. First, you need to describe how each stage of the business works, identify the processes that are slowing the company’s growth, and only then build a system.

For me, McDonald's is the perfect example. A business should work in such a way that a new employee can quickly complete onboarding, understand their tasks, and perform them without constant help from a manager.

That is why I devote a lot of attention to creating systems for training, onboarding, and sharing knowledge within a company. When processes are set up properly, it is much easier to scale a business.

Growth starts with letting go of what is unnecessary

Your experience: how do you grow x2 in a year?

Growing a business does not always mean doing more. Often, it is much more effective to give up what is not delivering results.

In my work, I have repeatedly applied the Pareto principle: I analyzed areas of work, kept those that created the most value, and closed everything else. This approach helped the company emerge from a crisis and return to growth.

Another important area is automation. Today, many routine processes can be handled by artificial intelligence systems: from processing product photos and creating descriptions to synchronizing information with online marketplaces and setting prices automatically. This allows the team to spend time growing the business rather than on repetitive operations.