Well-Known Entrepreneur and Investor Launches New Series at MIM-Kyiv

20 April 2017

MIM-Kyiv together with the Boyden Global Executive Search, global executive search agency launched Management Club series. Outstanding entrepreneurs, managers, investors, etc. are invited to share their managerial experience.

Mr. Vasyl Khmelnytsky, an entrepreneur, investor, philanthropist who was on all the lists of Ukrainian Forbes was the first to speak about his ups and downs and principles he follows.

On Partnership
Mr. Khmeltynsky prefers partners to subordinates. His partners are competent and resilient team players who make things happen. “My top managers are much better experts in their areas than me. I delegate to independent leaders and thus establish partnerships,” said he. People who understand business inside out and are different from Mr. Khmelnytsky are the best to do business with. Complementing in skills, expertise and competences is preferable to being similar and comfortable. “Partnerships of differences are profitable as you always have additional resource when solving a problem. And no nepotism of course,” said he.

On Motivation and Team Work
Each line of business is managed by its own team according to their HR development standards. Teams take monthly trainings mostly aimed at team building. “People are our main asset. Ukrainians are very impressive individuals but not always good team players. Building strong teams is a real challenge for us,” he stressed out. In addition to those monthly meetings teams in each line have their training and development programs. Head-office does not interfere with those programs. Moreover, in most cases companies fund training programs even the international ones.

“I have an exciting job: to start businesses, create teams, inspire them and do not meddle in the operational management. I help people in to make their jobs exciting. People do not spend time in my office which I believe is a sign of my management teams’ independence,” Mr. Khmelnytsky explained.

On the Most Difficult Management Decision
“Firing is the most difficult. Anything can go wrong - markets go down, people are good but they cannot run business under the current circumstances, etc. I believe that firing is the best although the most difficult solution in such cases. After the situation changes I am always ready to rehire them,” shared Mr. Khmelnytsky.

On the Unit City
San Francisco experience proof that young people hate commuting. They want to be in the city, in the middle of the action. Therefore Mr. Khmelnitsky created the Unit City, a high-tech park. It has such advantages of a city as kindergartens, schools, university and a lot of offices. “It is not only about innovations. It is about the atmosphere or ecosystem. Many of our experts are world class but they leave Ukraine because they lack the ecosystem they can find in California or other high-tech places. Due to the good education in sciences our young people start working for international companies but at certain point they are not satisfied. They try to do more but lack entrepreneurship environment. So they leave. I want to keep them home. I want them to be a success at home,” said Mr. Khmelnytsky.

On the Novopecherska School and Education in Ukraine
New school is not only about teaching children but about bringing them up creative and free. Novopecherska School so far offers alternative schooling. Mr. Khmelnytsky told, “Our teachers were selected and then trained specially. It is important to re-train and motivate 400’000 teachers. It is impossible without governmental support.”

On Ups and Down
According to Mr. Khmelnytsky, success and failures are interrelated. “I dream about my personal and my family success together with my friends’ success in the successful country,” said he. “No success is possible in the failureland. To flourish business needs payable or successful clients.”

On Future
Mr. Khmelnytsky does not believe in constructing a tower in a small yard in the city. He develops the community. However, his forecast of the development is grim. “There are more residential construction and development than people ready to buy properties,” he stressed. “Business wise our future is small scale manufacturing facilities to make goods which could substitute imported ones. Moreover, innovations and Unit City projects seem to have bright future.” According to Mr. Khmelnytsky, alternative energy is another very lucrative business. Currently, the “green” loans conditions are good and the payback period does not exceed 5.5 years.

On Books
Except for books published by the K. Fund (his charity) publishing house Mr. Khmelnytsky recommend works by Marshall Goldsmith and “The 7 Habits of Highly Effective People” by Stephen R. Covey

Summing Up
“Let’s perform today rather than worry about the future,” summarized his presentation Mr. Khmelnytsky. His own success is best proof his approach.