{"id":17985,"date":"2023-02-14T15:45:30","date_gmt":"2023-02-14T13:45:30","guid":{"rendered":"https:\/\/ivankroshnyi.com\/?p=17985"},"modified":"2023-07-12T13:19:14","modified_gmt":"2023-07-12T11:19:14","slug":"why-do-i-need-so-many-projects-or-how-do-i-run-business-in-turbulent-times","status":"publish","type":"post","link":"https:\/\/ivankroshnyi.com\/en\/why-do-i-need-so-many-projects-or-how-do-i-run-business-in-turbulent-times\/","title":{"rendered":"Why Do I Need so Many Projects, or How Do I Run Business in Turbulent Times?"},"content":{"rendered":"

I am an investor and a businessman. Perhaps, you\u2019ve already read that I have 26 companies in 19 countries of the world and I have started them jointly with my partners. I also run a bunch of projects in different industries.<\/p>\n

My projects include:<\/strong>
\n\u2022 Gerchik & Co<\/span><\/span><\/a><\/strong>, a brokerage company
\n\u2022 The investment fund<\/span><\/span><\/a><\/strong>, and a new aparthotel at the heart of Prague
\n\u2022 Roasters Coffee House<\/span><\/span><\/a><\/strong>, a Dubai-based high-end coffeehouse chain with an available franchise
\n\u2022<\/strong> Environmentally-friendly vehicles
\n\u2022<\/strong> A payment system called SharPay<\/span><\/span><\/a><\/strong>, and
\n\u2022 Magnify<\/span><\/span><\/a><\/strong> which is a consulting company in the United Arab Emirates<\/p>\n

We are also planning to launch two large projects linked to healthcare and electric transport in Dubai this year.<\/p>\n

People often wonder why I would get involved in so many different businesses scattered across the globe. Isn\u2019t it better to focus on just a few and push them forward?<\/p>\n

Today, I am going to answer this question.<\/p>\n

Business diversification<\/h3>\n

This is the first reason why I run several businesses in different countries simultaneously. Let\u2019s recall the beginning of the coronavirus pandemic, and what it did to some of the projects. Entrepreneurs around the world had stable businesses with great teams and excellent prospects. However, the COVID-19 restrictions literally destroyed at least half of them. Now the war has been affecting the profitability of many projects as well.<\/p>\n

Throughout these tough times, and challenges, I have heard plenty of stories about different entrepreneurs. I remember one about a businessman who owned a profitable restaurant chain. During the first Covid-19 wave, the business got halved, while the second wave utterly destroyed it.<\/p>\n

Here\u2019s another example. In late 2021, I was planning to grow a business of electric vehicles in Ukraine. Then February 2022 came and changed everything. I had to alter the concept, and shift the focus to the Asian market. I have expanded the chain and got the company registered so that we could open a factory where electric vehicles would be manufactured.<\/p>\n

To be ready for any type of unforeseen situation like the one I described, I make sure to diversify my business risks accordingly. That is why I have all sorts of projects in different places and industries.<\/strong><\/p>\n

Here are some of the ways in which you can protect your business from crashing<\/strong> regardless of the external circumstances.<\/p>\n

    \n
  1. Make a strategy<\/strong>, and decide how you will operate when certain restrictions are placed or a force majeure occurs. You have to get together with your team and think about your course of action for various unexpected scenarios.<\/li>\n
  2. When the first business starts generating profits, you need to think about ways to invest in other projects<\/strong> that have nothing to do with the first one. This can be real estate, among other things. After all, people have always bought houses and will continue to do so. The luxury property sector is unlikely to take a knock as the statistic proves that the capital can still grow in times of severe restrictions.<\/li>\n
  3. Pick different areas<\/strong> but make sure they resonate with you. Once I had been offered to invest in a tennis team. These were excellent athletes; however, tennis is not the business I could see myself getting into, so I had to pass.<\/li>\n<\/ol>\n

    In other words, diversification is the first reason why I have several businesses. There is also a second one.<\/p>\n

    Reliable partnership<\/h3>\n

    When I just embarked on my business journey, I had a business partner who later played me and took away the money. However unfortunate it all was, this experience made me realize how to interact with partners and investors while also showing me the true value of honest partnership.<\/p>\n

    Entrepreneurs who run several companies have less of a hard time finding investors and partners.<\/strong> People who have already proven themselves as trustworthy partners in other businesses can join your new projects. This is a huge perk!<\/strong> And here\u2019s why.<\/p>\n

      \n
    • You already have a history of common success.<\/li>\n
    • Your understanding of further business development aligns.<\/li>\n
    • There\u2019s trust.<\/li>\n
    • The project can be launched faster as many business processes have already been adjusted in other joint projects, including the contract signature stage.<\/li>\n<\/ul>\n

      That way you will have not only a solid team of employees but also partners. Now the third reason is partly attributable to the business.<\/p>\n

      Flexibility and multitasking<\/h3>\n

      Every day I am dealing with several projects. This involves reports, plans, and communication with the team. Such a pace of life keeps my brain in top shape.<\/p>\n

      Tackling diverse tasks and having to keep track of a bunch of different information makes my brain more flexible.<\/strong> While working on one project, I may come up with an interesting solution for another one.<\/p>\n

      Plus, running several businesses is really stimulating, so I never get tired of working on either one.<\/strong> After all, every seasoned entrepreneur knows that as soon as a concept or a company is no longer interesting to you, it is safe to say that the said project may soon shut down.<\/p>\n

      Therefore, by having several businesses I can:<\/h3>\n
        \n
      1. Integrate ideas, even when the projects I\u2019m dealing with originate from different sectors. One of my businesses is about pushing sustainability forward in the United Arab Emirates. Its mission is to make delivery services switch to green vehicles, which is why we are setting up a charging station network. So, my experience of running lthis project once again illustrates how one business can help start another one.<\/li>\n
      2. Keep my interest in all of my projects alive. I do not get tired of them and strive to remain involved in each one of them to the max.<\/li>\n
      3. Respond to whatever is happening to my businesses and around me easier and faster.<\/li>\n
      4. Memorize information, analyze and integrate things which is ultimately an excellent brain exercise.<\/li>\n<\/ol>\n

        Conclusion<\/h3>\n

        This basically answers the question, \u201cWhat\u2019s the point in having so many businesses?\u201d<\/strong> This is how I protect myself from situations I cannot control, and which can easily push me out of business and make me vulnerable in a fragile world.<\/p>\n

        Of course, it\u2019s easier to run just one project; however, it won\u2019t give you the security several projects can. People who work with me depend on me and so I cannot afford putting stable business at risk. As various industries, regions and concepts are the backbone of my business stability and stability of my team, I\u2019m safe.<\/p>\n","protected":false},"excerpt":{"rendered":"

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