I started my first business initiative in the information technology sector in 1991. Back then, I could not even imagine that having a business would be such a rewarding experience. In the 90s, being a business owner was only associated with making money.
I had a specific profession and could never have imagined that after graduating from the YSU, the faculty of applied mathematics, I could work in a completely different sphere. Yet, time puts everything in its place. In those days, public perceptions of business were scarce. There was no experience in long-term management, human resources management, financial analysis, attracting investments, or drawing an efficient marketing plan. There was no one to refer to for advice since no one had the relevant professional expertise.
Soon I co-founded another business in the consultancy sphere. The idea was born when I was doing my Masters degree at the American University of Armenia in the faculty of Business Administration. I “revealed” that countries with developed economies used management consulting as a tool to grow businesses. It was a challenging path to walk, and, as they say, it was not a sprint but a marathon.
A few years later, I started an agricultural business and then another, this time involving industrial equipment and materials.
Recently, I co-partnered with an IT company. It seems that the cycle is contracting here: everything started with programming and seems to end with programming. Never say never, though. I cannot tell what the future holds for me because a business endeavour is independence, personal responsibility, quality of life. Doing business is a real adventure.
I collaborate with small, medium and large enterprises. I take into account the unique characteristics of each business because their problems vary. Small companies want to get established in the market, mid-sized enterprises aim to become more competitive, while large ones need powerful management. In one case I work with the owners, in another case with the staff members, and in the third case, I deal with all the stakeholders involved.
The small business strives to grow, the medium wants to get bigger, and the big business fights to reinforce its market position. Solving these problems helps companies progress, makes them more efficient and competitive. However, companies need to be ready for this upwards curve, or problems will also grow alongside their enhancement and development.
Everything depends on the goal. Better to say – its definition. I’ve faced many cases when the company's goal was to increase sales by training the salesforce, whereas the real cause of low performance was the absence of a strategic plan.
The diagnosis of the business’ current situation plays an essential role in this context. When no appropriate environment exists, the increase in sales will be a temporary peak rather than continuous growth.
The next milestone is to develop a business plan that will enable the team to control the entire business process: marketing, finances, production, service and risks. The secret to effective business processes lies in a long-term marketing, financial and investment plan.
The values held by business owners, the board of directors, managers and staff serve a foundation for all of the above because they are the ones who manage the business. The current and future situation of the company depends on how they manage the business and how they use their potential, talents, knowledge and experience to that end. The coaching of senior executives aims to reach this milestone.
