Mistakes worth of million euros

03.06.2021
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Vladimir Funtikov gave us an overview of the mistakes that he has made and which have taken millions of euros out of his pocket. He calls it tuition. If you are smart and learn from his mistakes, he has paid part of your tuition.

Keep in mind that these mistakes are not one-offs but systematic miscalculations and are therefore often overlooked.

Let us introduce: millions of euros worth of research over the years that Vladimir accidentally and reluctantly paid for.

Here is a TOP list of his mistakes.

1. I did not understand or renew my role in the company.

Starting a business, we are the holy trinity of business. This means that we embody the CEO, the founding member, and the investor at the same time. Each role has its own function.

– The founder is an icon whose image is standing on the wall.

– The shareholder is capitalist, looking for good investment opportunities and thinking in a long term;

– The CEO manages the company. Quoting Vladimir: “CEO gets shit done!”

2. I wasn’t looking for mentors.

Mentors provide important knowledge. There is no need to be afraid that if you ask for instructions, you are in trouble. Mentors usually enjoy mentoring.

3. I did not make difference between reactive and proactive behavior.

If your day is spent answering random emails and phone calls and dealing with unexpected tasks, then you are reactive. When you work like this, you´ll burn out soon because you never feel like something has been done. Be proactive.

4. I neglected the company’s finances.

Profitability creates convenience. At a time when money is tight, every move is thought through. You should look at each outgoing pile of money and think about whether it could be sent to a better place. So it would invite more friends back home.

5. I did not interview every job candidate.

If you take that time, you will be able to build a trusting and personal relationship with the new team member. Your vision and ideology will become clear to the new employee before the first day of work. The candidate provides good information on how the company looks to the outside viewer.

 6. I didn’t take care of myself.

A CEO is an example whose job it is to make good decisions. Poor health, domestic worries, stress, and financial problems do not contribute to the decision-making process. The team reflects the leader. If you live in distress, your employees and your entire company will soon live there.

7. I didn’t work on SUPER exciting projects.

Yes, we have to make rational decisions about which projects to undertake, but from time to time we also have to come up with a task that will keep you awake at night and thrill your creativity.

So. We will not send you a bill. Use the knowledge you gained and write one million euros in the assets of the training budget. Of course, what is written here is just the tip of the iceberg, and Vladimir’s fruity descriptions of experience are definitely worth checking out from the webinar.