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# How to Build a Profit-First Mindset with Serial Entrepreneur Ruslan Leteyski
- URL: https://www.therecursive.com/how-to-build-a-profit-first-mindset-with-serial-entrepreneur-ruslan-leteyski/
- Published: 2024-02-06T15:03:36.000Z
- Updated: 2024-02-06T15:03:36.000Z
- Author: The Recursive
- Tags: E-commerce, Leadership, Podcast, bootstrapping, businеss modеl bootstrapping, profit, Shopify, Startups, Sofia, Bulgaria, #wp, #wp-post, #Import 2026-03-17 10:10

Our guest is only 27 years old but he already has several successful ventures in the e-commerce industry. [Ruslan Leteyski](https://www.linkedin.com/in/leteyski/?ref=therecursive.com) founded his first company while still in high school.

He’s the founder of [CheckOutX and Vanga AI](https://www.therecursive.com/exploring-the-payment-processing-strategies-of-top-saas-ecommerce-leaders-in-cee/), e-commerce solutions for Shopify & WooCommerce that help merchants increase their revenue.

His current project TimeCraft is a platform for providing session-based digital services.

Ruslan Leteyski is also an active angel investor. Some of the businesses he supported include [CloudCart](https://www.therecursive.com/how-cloudcart-s-ecommerce-as-a-service-model-enabled-100-yoy-growth-and-industry-leading-retention-rates/), [Klear](https://www.therecursive.com/bulgarian-p2p-lending-platform-klear-receives-e800k-funding-from-new-vision-3/), [Puzl Coworking](https://www.therecursive.com/puzl-coworking-s-ambitious-plan-to-connect-it-communities-in-cee/), and [CoLiving Semkovo](https://www.therecursive.com/networking-premium-acquires-coworking-bansko-to-enrich-the-digital-nomad-experience-in-bulgaria/).

In this episode, we follow his journey in building, scaling, and exiting profitable businesses in the e-commerce industry – from CheckOut X becoming the industry’s top checkout alternative to being rejected by Shopify, through the challenges of transitioning to a WooCommerce ecosystem.

The episode is packed with actionable insights on:

- The balance between validating a product idea through development and user feedback;
- The challenges of receiving feedback and managing imposter syndrome (while feedback is valuable, it’s essential to filter and assess its relevance);

In his conversation with Irina, Ruslan Leteyski introduces his latest project TimeCraft, a platform designed to streamline and support various session-based services such as coaching, therapy, and teaching. Leteyski aims to empower individuals to monetize their time effectively and to provide freedom for service providers.

Ruslan Leteyski is also a prominent critic of the prevalent startup culture’s fixation on fundraising and the misconception that raising capital equates to success. He advocates building a solid business model and addressing [real market needs](https://www.therecursive.com/the-dead-horse-framework-how-to-evaluate-the-potential-of-a-startup/) rather than solely chasing investment rounds. And urges the media to cover and recognize the stories and potential of [bootstrapped companies](https://www.therecursive.com/15-bootstrapped-cee-startups-that-should-be-on-your-radar/) more often.

*\*This episode of The Recursive Podcast is released in partnership with the European Bank for Reconstruction and Development. As part of their mandate to support small and medium-sized businesses, The EBRD’s SME Finance and Development Team provides knowledge, network, and skills to help emerging businesses innovate, thrive, and succeed.*