Stoyan Mitov (’11) has always believed in the power of community as a foundation for entrepreneurial success. His journey began at AUBG, where the supportive atmosphere and meaningful connections inspired him to turn his ideas into reality. From creating the community-focused mobile app Grajdanite (The Citizens) to becoming CEO of Dreamix, the fastest-growing software company in 2023, according to Capital.bg, Stoyan has shaped a leadership philosophy centered on integrity and purpose.
Speaking with the Bulgarian business tycoon, we gathered six key lessons on how to become a successful entrepreneur, rooted in his AUBG experience and his path to success in business.
1. Always depend on yourself
The first lesson Stoyan learned at AUBG was a hard-hitting one. Through loans and work and travel programs in the U.S., he managed to finance the first three years of his education. For the final year, his family promised to cover the tuition, but when they didn’t, Stoyan was pulled from class and had to delay graduation by a year. Determined to finish, he took on multiple jobs and started (and failed at) several businesses to save enough to return.
Stoyan shares: “When life pushed me to the edge, I had no choice but to find my way forward on my own. AUBG teaches you that everything depends on you and that you should always be proactive, not reactive.”
2. Value the power of community
While self-reliance was a valuable lesson for Stoyan, he also came to appreciate the strength that comes from connecting with others. At AUBG, he found an unwavering sense of community.
Together with a few of his peers, Stoyan started his first business, Grajdanite – a mobile app aimed at improving driver conduct and making a positive impact on the community.
Reflecting on the experience of starting from nothing, Stoyan shares: “It’s not only easier but more rewarding if you achieve something together.”
This mindset carried into Stoyan’s later career. For him, trust is at the heart of effective teamwork. He believes that choosing the right people to work alongside is one of the most important decisions an entrepreneur can make.
“When you have a company, it’s crucial to have people in the business with whom you share a bond. Only if these people trust you and believe in the mission can you achieve success,” he explained. At Dreamix, it’s part of the company’s mission that employees feel like they belong to a community and are creating something meaningful.
3. Balance business, family, friends, and self
One of the most impactful lessons Stoyan has learned is the importance of balance. He likens life to a delicate scale that must balance four pillars: business, family, friends, and self.
“At different stages in life, one of these areas may demand more focus than others. Sometimes, business is more important; other times, it’s family or yourself,” he shared.
“But in the long term, they should all be balanced. If one of them is neglected for too long, it disrupts overall happiness.”
4. Focus on character-building
Stoyan’s experience has taught him that, while technical skills are essential, character ultimately defines a person’s success.
“Character is the most important thing you can build,” he advises.
Rather than looking to role models, he prefers to learn from everyone around him, drawing insights from those close to him, as well as from books. “These are the things that open the world in front of you,” shared Stoyan.
When it comes to refining the successful entrepreneurship characteristics, Stoyan advises: “I strongly encourage young people to learn as much as they can – read books, listen to podcasts, and explore anything that can build their character and resilience. This way, when there is a hurdle, they’re going to push through rather than say it’s too difficult and give up.
5. Promote the right people
“To be a leader means that you are an example to others,” Stoyan shared. He explained that promoting the right person has a powerful impact, as it can motivate others. “When people see that hard workers who prove themselves are the ones who advance, it makes them think, ‘I can implement certain habits in my daily work so that I can be next in line for promotion.’”
However, “If you make a bad decision, then the chain breaks. Things can go from structure to chaos very quickly, and it’s very noticeable. It’s a tricky balance,” he admitted, “to keep that chain going without letting it break.”
Reflecting on his time at AUBG, Stoyan shared that being in a close-knit group of friends taught him to understand that “although we’re all similar, we’re also very different. Some of us are introverts, some are extroverts; some are active, others are passive. As a leader, you need to push people to reach their potential. When they look back at all they’ve achieved, they should feel proud and grateful for being challenged.” For Stoyan, this sense of growth defines true leadership.
6. Prioritize giving back
Stoyan shared that giving back is central to the Dreamix mission.
“We allocate 1% of our revenue each year to support different causes chosen by our employees,” he explained. Each team member has the opportunity to direct a monthly amount to causes they believe in, and for those who want to contribute more, the company matches any additional donations.
A strong advocate for education, Stoyan and his team also teach courses in technology in institutions such as Sofia University, Plovdiv University, and Telerik Academy, where their technical employees have graduated.
“For me, education is maybe the single most impactful thing you can support. That’s why I also support AUBG. When you look at the AUBG graduates and what they have achieved, I believe it offers one of the highest returns on investment per graduate in the region.”
Advice to current AUBG students
For current AUBG students looking to follow in Mitov’s entrepreneurial footsteps, his advice is clear: “First of all, it’s up to you to be successful and happy in life, no matter what career you go into.
“Second, stay connected to your community, because there are a lot of people who can help you.” With the right mindset and support system, he believes, anything is possible.
Mitov also believes that true success stories are shaped through challenge: “If it’s easy, it’s not worth it. If it’s hard, it’s worth it,” Stoyan says. “Because if it’s easy, everyone will do it. But if it’s hard, that’s where the value is.”
Do you feel inspired to start your own journey toward entrepreneurial success? At AUBG, we offer a wide range of programs and extra-curricular activities designed to help you streamline your path to success and develop the skills, mindset, and connections needed to thrive. Explore our academic programs and get in touch with us if you need further guidance.
