SURVIVING UNTIL THE RIGHT MOMENT

           If a crisis didn't destroy the company, it made it stronger. I've seen this many times through my own experience. My business grew during crises: the deeper the slump, the stronger the impulse for subsequent growth. It's worth noting that I'm not involved in a hype-driven or volatile business; Pet Technologies designs equipment for producing PET bottles.

           After the 2004 crisis, we doubled our production. After the 2009 crisis, we found clients beyond the CIS, opened an office in Austria, and established ourselves in the European market. And since 2014, we've entered the US, Canada, and Latin America.

            What's the reason behind such dynamics? The reasons depend on the nature of the crisis. For example, losing a strategic market forces you to focus on finding new partners.

            Do I expect business growth after the current, radical crisis? I think the scale of the crisis is directly proportional to the scale of subsequent changes. What those changes will be, as always, will be revealed by time. Previously, every time the realization of company growth and the essence of that growth came about a year or a year and a half after the onset of the crisis.

            Predicting such things is difficult, especially now. What should an owner do? Choose the right personal strategy. I emphasize - PERSONAL! Because the changes happening now are primarily personal transformational changes. Right now, more than ever, the future of most Ukrainian companies depends on the internal transformations of their founders, their decisions, and personal strategies. Even if the founder hasn't been involved in operational management for a long time. Like me, for example...

            Recently, at a business club meeting, someone asked me for advice. What to do? Should they invest in new projects, enter new markets, keep money in cash, move production, etc.? I answered that I didn't know. Giving advice now is an ungrateful task, as each person has their own story, opportunities, business specifics, and risk tolerance levels. All I can do is share my personal strategy. I called it "Surviving Until the Right Moment."

            It involves:

           1) Not losing oneself  in the desire to satisfy the internal urge for active action. Entrepreneurial energy is both a blessing and a curse. An entrepreneur can't sit still - they need to run somewhere, do something, so as not to miss the moment. And if there's no movement, the sense of guilt and bitterness over wasted time takes over. I think that right now is that situation where it's better to do nothing than to do something just for the sake of being in the process. Less hustle and bustle, less wasted energy. This also applies to important decisions regarding investments and business development. Experience suggests that significant decisions should be made from a calm state, not an agitated one. Guided by this logic, I didn't relocate the factory from Chernihiv. The relocation attempts by my fellow businessmen, and the costs associated with them, didn't inspire me. The risk of failure and financial losses was too high.

           2) Focusing on what works best - the familiar old business. Even if it's low-margin and the prospects of breaking even, let alone turning a profit, in the next six months are very uncertain. Another crisis is another test of the company's resilience. Let's remember the history of Porsche. The Second World War dealt a severe blow to the company's business, and after the victory over Nazi Germany, it was essentially dismantled. Porsche held its ground and resumed making cars. War is not the end, but only an episode in the country's history and the company's history. Acknowledge this and convey it to the team.

            3) Not taking risks with new projects.  A crisis brings new opportunities. But not all crises are the same. Jumping out of what seems like an opportunity window can lead to a fall and failure if done with the wrong mindset and low energy. Engaging in new projects should be done when you have the energy to crush anything in your way and tear the market to pieces. Right now, that's definitely not me.

            4) Being more attentive to internal changes and not resisting them. War not only reveals hidden facets of our nature but also changes a lot within us. If before, I merely appreciated the simple workers in the shop for their diligence and skilled hands, now my respect for regular people - not businessmen or elites, but the common folks - is soaring. Because it's mainly them who are fighting for our future now. This newfound respect fuels the desire to help, support, and value. I wanted to do even more for the restoration of my hometown and country. My attitude towards taxes changed, and priorities in the order of regular payments shifted. The internal changes of the owner directly affect the company's work: processes, finances, management, partnership, corporate values.

            This crisis will certainly affect business - I believe in victory and the opportunities that will open up for the country and its economy after the victory. This could include grants, financial support programs from the European Union to improve the technical characteristics and quality of Ukrainian products, etc. Western partners will willingly work with us, new markets and customers will emerge. However, besides external factors, internal factors will play an important role in recovery and growth. By becoming better and cleaner ourselves, we will transform our companies and make the necessary leap at the right moment. It's important to survive until then, maintaining a clear mind, a reserve of energy, and oneself. So as not to miss it.