Thursday, November 30, 2023

David Seruya Talks About His Plans for the Second Half of 2022!

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Ian Feldman
Ian Feldman
Ian Feldman is the lead editor for Business News Ledger. Ian has been working as a freelance journalist for nearly a decade having published stories in the New York Times, The Plain Dealer, The Daily Mail and many others. Ian is based in Detroit and covers issues related to entrepreneurs and businesses.

ServicePlus was founded in 2016 and has been steadily growing in the home warranty industry ever since. As its founder and CEO, we interviewed David Seruya to get some insight into how the company is planning to proceed from here on.

The following is a direct transcript of our interview:

Hello! Thank you very much for taking the time to answer a couple of questions for our readers!

David Seruya: No no, thank you! I’m very happy to answer your questions.

Then, why don’t we start with an introduction? Tell us a little bit about yourself and your company.

David Seruya: Ah, where to start? My name is David Seruya, I was born and raised in the United States, and I have a wonderful family that I love very much. As for my business, I’ve been involved in the home warranty industry for over a decade now and have poured my heart and soul into my current company, which is called ServicePlus.

The home warranty industry may be unfamiliar to some of our readers, can you please introduce it briefly?

David Seruya: Home warranty service is very similar to insurance. It’s added protection for peace of mind — at least, that’s the most basic way to describe it. More specifically, it’s protection for your home’s appliances and systems.

To give you an example, if your aircon suddenly breaks and requires repairs or replacement, so long as you have home warranty coverage, your plan should help you shoulder the costs. This way, you won’t have to worry about losses caused by the natural wear and tear of the most important appliances and systems in your home.

The home warranty industry seems pretty niche in some ways! How did you end up discovering it?

David Seruya: The industry was introduced to me by a friend from college. At least, that’s what they were back then! Later, they became my business partner — the person that I worked with in order to establish my first home warranty business.

And what was that experience like for you?

David Seruya: Setting up my first business was definitely a learning experience for me. My friend and I were pretty young back then. I was only 25 years old, for example.

Our youth and inexperience ended up costing us quite a lot. We stumbled several times along the way and the company collapsed on us. To keep a long story short, it was an experience that ended in failure — teaching me a lot of things that I needed to know.

What kind of things were those and how did they help you create the ServicePlus Home Warranty of today?

David Seruya: Well, for one thing, I learned about the importance of creating a good team and mastering the skill of delegation. Nowadays, I pay very close attention to my hiring process to make sure that the people around me are the best for the job. In this way, I can feel a little more at ease delegating more important tasks to them.

As for how this relates to my first failed venture. Back then, I was a bit too involved. Thinking that I had to do everything (or at least monitor everything) in order to make sure that things go right. I hadn’t accepted yet that there was no one in this world that could be good at everything, and so I ended up wearing way too many hats and stalling our growth unknowingly.

What else have you learned from your previous experiences that helped you in the present? Specifically, based on the instability caused by the pandemic?

David Seruya: Well, being a business owner, I had to learn early on about the importance of innovation. As a person that has a passion for architecture and interior design, creativity is one of the skills that I’m most proud of, but I didn’t realize the importance of it until I started to develop my own business.

In the beginning, I was very careful. And though I considered myself a risk taker, it was never enough experimentation. Anyway, what I’m trying to say is that one has to innovate in order to grow. Even if it means taking risks sometimes. One must experiment and never fall in love with a single idea.

This way of thinking is what I think has been most crucial to our growth these past couple of years. Especially after the pandemic. ServicePlus had to work hard in order to make sure that we were staying above our competitors and meeting the new specialized needs of our customers during that period.

Now, for our last question, what have you got in store for the second half of 2022? Is it something that you can share with us today?

David Seruya: Though I can’t give you direct details, I can say that—borrowing from my answer to the previous question—ServicePlus will continue to work hard in order to improve our services. To be a little more specific, currently, we’re looking at implementing new technology to smoothen our processes, amongst other things!

And that’s a wrap, thank you again for answering our request for an interview! Is there anything you would like to say to our readers? Perhaps a parting piece of advice?

David Seruya: When it comes to advice, all I can say is that if there’s something big ahead of you that you’re too scared to take a gamble on, give it a little more thought and consider whether or not you’ll regret not doing it. This is something that I gleaned from one of my most respected idols, Brad Lea, and his quote: “You’ll only regret what you don’t do.”

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