«If all of you are so smart, why am I so rich?» Warren Buffett, the world’s one of the richest and famous investors, said once. Not only brain and zealousness suffice to earn much money and succeed in business.
Smartness is also required, you should determine priorities, be self-confident and be ready to dispute various issues. Even more so, it is not easy to manage business in Georgia. In our country a success is frequently perceived as «justification», while failure is also justified by various arguments.
The Caucasus Business Week (CBW) introduces a new column for inquiry of businessmen about undertaking business activities and mechanism for attaining success.
Several suggestions for becoming a successful businessman.
Tsezar Chocheli, guest of the column:
Specification of business details – first of all, you should clarify and specify the core and nature of business you plan to undertake. It is impossible to take into account everything, but, you should try.
Business Plan – business is an accurate science and you should make accurate calculations. In any case, a short outline and design should be prepared in the form of a business plan that will better show what results the business will bring in a certain period, in one, two or three years.
Education – a person should have an initial education to cope with all the mentioned factors. I graduated from an university in 1991, when planned economy was still practiced. Today, attitude towards business and production has changed in practice. Therefore, due literature is more attainable today. Previously, it took several months to search required information, while today any information may be specified in 15-20 minutes.
Communication – communication is a necessary factor to achieve success in business. It is very difficult to keep due communication without knowledge of foreign languages. I think ignorance of a foreign language is my huge minus. Foreign languages alleviate to find due partners, sales market and in general, you become an entirely new person when you speak the language of your business partners.
Capital – This is a ground and foundation of everything. Even small capital is a capital. Today I would like to tell young people that Startup Georgia is a very good program. I have assisted several groups of young people to join this program. If the business idea is properly developed, the issue of initial capital may be resolved. Naturally, there are some limitations, but this program enables beginner businessmen to implement their business ideas.
Initiatives – over the past 2-3 years I keep close communication with young people and exchange considerations with them. A very good generation is growing and I am sure that they will succeed much more than my generation. They have more initiatives, more visions and better attitude to business sector.
How I Launched Business – I graduated from Tbilisi Ivane Javakhishvili State University faculty of economics. In the same year, I started working at a state structure, where I stayed for about 2 weeks. I quited the job because of the then bureaucratic and corruption conditions. I was 22, when I launched business. Lomisoba Fest is marked in my highland region. Once I went to this fest jointly with my friends. Traditionally, beer is made at this Fest. Beer is considered a divine drink in highland regions and this belief is maintained even today. At the festival we decided to make the same drink in household conditions. Having returned from the Fest, we established an enterprise, bought ordinary spirit distilling boilers and undertook business in this way.
Business launched by 2000 USD – Today there are much better conditions for undertaking business. This is not exaggeration. Previously, there was very bad and heavy situation when we were starting our business – unrests, burglaries and theft. Today it is possible to obtain financial resources for only a good business idea. Today people are able to draw money through ideas and implement business ideas in this way. In that period Russian money was in turnover, but that amount was about 2 000 USD and I started my business by this capital.
It is possible to launch business by this amount today too. Everything has its inception. Every business, whoever may stand behind it, starts from a startup, from zero. In the same way, today it is possible to launch business in any direction. The main thing is that you should do your best and love your business. It is impossible to achieve success without hardworking and devotion to your business. Everything justifies and works, when you take tireless efforts, show zealousness, hardworking and devotion.