In 2011 after the seminar, I had a meeting with one of the participants. He suggested creating a service-platform for the info-businessmen. Our communication was very fast it transformed into a real friendship. My partner Ilya Churakov and I invested money into this project during the two years thus creating EXPERTSYSTEM, a platform for webinars.
It happens as you get inspired with the magic idea, it is supported by other people and you meet partners who are ready to invest it. Then you are winged, build endless plans then you start to realize them, lead your team and receive the first sales.
Then the brilliant idea picks you up, and you set the Guinness record. It is not a joke! 12012 people were in live broadcast! Significant investors of the big funds, who have already made investments into big startups, come to you. And we are talking about millions of dollars that may flow to you.
It reminds me of the Hollywood story and a movie “The Social Network”. But everything is happening in the reality. A Senator from Kremlin comes to you and wants to work together with you, on their own terms of course. You realize that the offer means endless money and tight control, and you refuse.
But you continue with the project. In spite of that, the value of development, according to the accounting, is much higher than sales revenues. And of course I spent too much on luxury life.
And you do one, two launches, burn yourself, and cover the deficit of cash. Stop! At some point you have to remind yourself the ancient Chinese proverb “If you ride on a dead horse the best strategy is to jump off it”.
It hurts. You talk to your partner and calculate losses. Then you pay your employees, partners, sponsors, authors and decide to go forward on your own way. You get an evaluable experience, which you can’t find in books.
In the spring of 2013, Ilya and I parted peacefully. Every way has its own price. And even if you are told something you will not trust it until you test it yourself.
Honestly I wanted to part him into four pieces as the sense of injustice was boiling inside of me. At the present time, we can laugh at that situation while sipping a cup of tea.
Robert Kiyosaki seemed to write this specially for me “It is better to fail before reaching 30 years. In this case, you will have enough force to create new and more powerful companies”.
It was wonderful that it has happened then!
According to any experience of our life, we must come to conclusions for not to repeat it any more. The main lesson – originally your business can have only one responsible person. Shares may be different, but the final decision should be made only by one person. And if I invest in the project, the total responsibility should be mine. In a different case – I have a small share and I am only a consultant of the project, then the total responsibility belongs to the other partner.
- Don’t create business without formal agreements that prescribe and notarize the rules of connection and separation of investments. “We will arrange the agreement later, when we receive a lot of money” – this creates great conflicts.
- All trademarks should be attached to the company, a share of which you possess.
- The intellectual property must only belong to the company.
- The business-plan must be real, created not only for attraction of great investments. It must contain the question- where is the profit? Just what will people be willing to pay? This plan must be interesting not only for working towards but also for injecting.
- Working out of product must coincide with marketing but not vice versa. Otherwise it will be the attempt to sale something that had been created before.
- An awl can’t be hidden in the pocket; people will spread rumors. The employees are alive, concrete people, and they will tell your customers all dirty details of your kitchen for not to take anything on their conscience. Or on the contrary, they will be the fans of your company and tell everybody how cool it is. Everything will be known, but the question is – WHAT?
- You can not build a business on a shaky foundation. You must check all details of agreements with the suppliers personally.
- To create a service-platform which will do everything – it means that nobody needs it. However, we suspected this from the very beginning.
- Business together with your partners creates the illusion that the other will do everything. Hope for the other partner does not lead to the profit. The team leads to the profit. The founders of the business should not work a lot and expect for labor feats from each other.
Business teaches you some lessons and the possibility for the personal development. We attract the situations and people for these lessons.
I publically express my personal gratitude for my partner Ilya for these lessons. Even if you read something like this in books, there is a big difference with reality. I am sure that you have learned many lessons about how to work with such “instigators” like me.
I am not saying that I am perfect. Besides the errors in business, all my personal “mental bug” have become visible when I have touched much money. By the way many people are afraid just of that.
All “mental bug” of 99% of people are standard: pride, fear of losing, greed, fear of the investors’ control, absence of sales – no money to pay salary, and many others produced. All of my fears have also appeared.
Many people live with their “mental bug” for many years, cling to them and suffer. It is “profitable”. Let everybody think that I am white and fluffy, even without money. Is everybody surrounding me, poor? When some money comes to them, instead of investments, they prefer to spend money in a lot of unnecessary garbage or buy expensive cars.
I have chosen a different road and started to tame my “mental bug” and at the same time, I decided to find the possibility to work less and earn more. Because the old mantra “the more I work — the more I am lucky” was not good for me anymore, we began to look for fresh solutions. Most of people work according to the formula “plow, plow, plow”. Someone even gets pleasure of his blood flowing. But it is an impasse. I need more pleasure and less stress.
So, for two years I was working on myself practicing meditation (Theta Healing). I finished the basic and advanced level and had many personal sessions. Because of that, I did not want to work at all. Fortunately, I had clients with personal coaching, that is why I had everything for my life. But I still wanted to develop myself and business.
After the closing of EXPERTSYSTEM, I felt myself as if a stone got off my soul – liberation from the imposed obligations gives more value than money. I’ve got great freedom for this particular activity.
For example, we found real geniuses and revived the society of knowledge. There are thousands of people who want to build together with us the City of geniuses – SUNGRAD.
Today I dedicate all my attention to this project and am thus the producer.
To find geniuses and promote them – it is a different story.