The main business wisdom of Vasily Khmelnitsky

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"Management Club" is a series of meetings with representatives of the business community organized by the leading international company for the selection of management personnel of Boyden Global Executive Search together with the business school MIM-Kyiv. At Delo.UA you can learn the main business wisdom of speakers who set the development trends of our country for years to come.
The first speaker is businessman Vasily Khmelnitsky, founder of K.Fund fund, majority shareholder of one of the largest construction companies of Ukraine UDP and airport "Kiev". He also holds a stake in such companies as Star Media and Biopharma, is developing an innovative project Unit.City 

About motivation
What motivates me? Life, family, interesting and successful projects. Our projects bring joy to customers, and this is even more inspiring.
I have a great managerial experience, which is based on an impressive number of projects, successful and not very successful. I was engaged in trading in securities. In 2007, the market fell, and securities that previously were expensive, are now valued at a penny. Because of the crises of 1998 and 2008, I had debts, I had to sell assets to pay off creditors. There were very successful projects that developed and changed the industry. I never gave up. This is one of my main principles. 


On the principles of partnership
The most correct method of doing business is to have partners. And in Ukraine, partnership is not only profitable, it is effective. If you suddenly have any problems with the business, you can always turn to a partner who will not refuse you.
It is important to remember three key things that partnerships are risk reduction, new opportunities and new knowledge.
Another point related to the partnership: choose partners that are not like you. If a person is similar to you, for example, he graduated from the same business school, has the same background, then 25% more likely that you will start a joint business, but he will be 25% less efficient.

What is the key to successful partnership? First, it is necessary to build relations with partners cautiously. Secondly, they must have fair conditions. And, thirdly, they must trust each other. I, for example, have partners whom I trust 100%. I work with those who understand me, who show the result and know their business. It is with such people that I am ready to share risks.
About the ideal partner
I'm open to any partnership. If a person comes from me from the medical center and offers to make light bulbs together, then I hardly agree to such a partnership. But if he offers innovative use of light in medicine, then why not. 


About relatives in business
With whom I'm not exactly ready to do business, it's with relatives. This is some kind of dead-end variant of cooperation. How to build a normal working relationship with relatives? After all, you must manage, reward, or even fire them. Even my son does not work for me.
About the most difficult management decision
The most difficult administrative decision for me was the dismissal of people. There are circumstances beyond our control. When the team is good, and professionals, but there is no business, the market is falling, and you are forced to part with people. It is better to fire employees and again "buy" them when the situation on the market recovers, rather than leaving good specialists just to "wait out". This makes no sense.
Also, I will not hire a person who changes jobs every couple of years. I'll teach him everything, and he will leave in two years. I'm not ready to cooperate with those who will say: "I want to work for you, because you are a well-known company and you are working for prestige." This is for me empty words.
About key qualities of managers
It is difficult to single out one quality, which I most appreciate in general directors. We need a set of qualities - it's persistence, and involvement, and the desire to learn, and applying the knowledge gained in practice, and the ability to realize the goals. Perseverance is important, but only this quality alone will not give anything. Imagine a CEO, who is persistent, but goes in the wrong direction. What will happen to his business? Nothing good.
I have good, "calm" and "even" relations with the general directors of companies, because they are my partners. I do not manage them, but I cooperate with them. I believe in a team, in a team work. If the business has any problems or the strategy changes, then the whole team is going to, and together we find the necessary solutions. I understand that the general directors of businesses know more about me in their spheres. I have something to learn from them. 


About books
I do not read novels, I like business literature. The most interesting book I read recently: "Jump higher than the head" by M. Goldsmith. In delight from "7 skills of highly effective people" S. Covey. When I read books, I highlight the most interesting, I give the book to the secretary and get 6-7 pages of important moments, thanks to which you can understand the essence of the book. After reading the squeezes through time, you can restore the main ideas of the author in memory.
On new business lines
I intend to leave the construction business, because I see no prospects for the construction industry in the current economic realities. People are getting poorer, the market is narrowing. Companies are building housing, which will not be claimed by consumers in the next year.
The future is behind import substitution. We plan to implement several projects together with the network "Epicenter". We have studied the list of goods that the network imports, and which are not produced in Ukraine. This, for example, sockets. I am sure that we can establish effective production in Ukraine and compete with Turkish and Chinese products. In the future, we will be able to work not only on the domestic market, but also export products to the EU.
I am sure that the prospect is not for big, but for small and medium-sized businesses. The main thing is to create transparent and understandable rules for its operation.  

That is why one of my main tasks is the creation of an infrastructure and favorable conditions for doing business. I create a space where entrepreneurs could grow (the Unit.City project). When they show a positive result and grow, the entire economy of the country will grow. Our task is to create conditions and give opportunities.