hi so today I’d like to talk about intrapreneurship and change I’m founder
intrapreneurship and change I’m founder
intrapreneurship and change I’m founder of Ukrainian and online lending company
of Ukrainian and online lending company
of Ukrainian and online lending company called Manorville you a so we operate 24
called Manorville you a so we operate 24
called Manorville you a so we operate 24 7 across all Ukraine and what we do is
7 across all Ukraine and what we do is
7 across all Ukraine and what we do is we provide loans small micro financial
we provide loans small micro financial
we provide loans small micro financial loans up to 2000 rayveness up to 30 days
loans up to 2000 rayveness up to 30 days
loans up to 2000 rayveness up to 30 days straight to your bank card within 15
straight to your bank card within 15
straight to your bank card within 15 minutes you can probably remember lots
minutes you can probably remember lots
minutes you can probably remember lots of different situations when you needed
of different situations when you needed
of different situations when you needed cash right here right now you were dying
cash right here right now you were dying
cash right here right now you were dying in at a restaurant and the bill was
in at a restaurant and the bill was
in at a restaurant and the bill was larger than you expected or your car
larger than you expected or your car
larger than you expected or your car broke down in the middle of nowhere and
broke down in the middle of nowhere and
broke down in the middle of nowhere and you only had a credit card and
you only had a credit card and
you only had a credit card and smartphone now you know there is a way
smartphone now you know there is a way
smartphone now you know there is a way outta money by oga so after this brief
outta money by oga so after this brief
outta money by oga so after this brief moment of advertising I would like to
moment of advertising I would like to
moment of advertising I would like to talk about personal changes that usually
talk about personal changes that usually
talk about personal changes that usually happen to intrapreneurs and some changes
happen to intrapreneurs and some changes
happen to intrapreneurs and some changes business usually a face so one of those
business usually a face so one of those
business usually a face so one of those I think that many people become
I think that many people become
I think that many people become entrepreneurs after some significant
entrepreneurs after some significant
entrepreneurs after some significant life change in events for me that was
life change in events for me that was
life change in events for me that was coming back to Ukraine after studying in
coming back to Ukraine after studying in
coming back to Ukraine after studying in the UK and working in investment banking
the UK and working in investment banking
the UK and working in investment banking while in Britain I saw lots of ads of a
while in Britain I saw lots of ads of a
while in Britain I saw lots of ads of a highly popular online lending company
highly popular online lending company
highly popular online lending company 1.com who were the first to pioneer in
1.com who were the first to pioneer in
1.com who were the first to pioneer in this area they opened up in 2007 and
this area they opened up in 2007 and
this area they opened up in 2007 and since then they have become super large
since then they have become super large
since then they have become super large they have market valuation of billions
they have market valuation of billions
they have market valuation of billions of dollars and I thought that was a
of dollars and I thought that was a
of dollars and I thought that was a great idea to bring back to Ukraine so
great idea to bring back to Ukraine so
great idea to bring back to Ukraine so after coming up with the business plan
after coming up with the business plan
after coming up with the business plan getting the team and securing funding
getting the team and securing funding
getting the team and securing funding from the 3 f’s we started developing the
from the 3 f’s we started developing the
from the 3 f’s we started developing the product in case you don’t know what 3f
product in case you don’t know what 3f
product in case you don’t know what 3f means this is family friends and foals
means this is family friends and foals
means this is family friends and foals and so after a year or so our product
and so after a year or so our product
and so after a year or so our product was ready and we launched this was the
was ready and we launched this was the
was ready and we launched this was the happiest day of my life and the date was
happiest day of my life and the date was
happiest day of my life and the date was quite significant to it was the 20s of
quite significant to it was the 20s of
quite significant to it was the 20s of februari 2013 which was just the day
februari 2013 which was just the day
februari 2013 which was just the day before euro my done started in Kiev
before euro my done started in Kiev
before euro my done started in Kiev so going to some personnel changes
so going to some personnel changes
so going to some personnel changes intrapreneurs usually face they fall
intrapreneurs usually face they fall
intrapreneurs usually face they fall into three categories they are the good
into three categories they are the good
into three categories they are the good the bad and the ugly just like in old
the bad and the ugly just like in old
the bad and the ugly just like in old Clint Eastwood movie so let’s start with
Clint Eastwood movie so let’s start with
Clint Eastwood movie so let’s start with the good ones first is ambition you
the good ones first is ambition you
the good ones first is ambition you start a company not just for fun you
start a company not just for fun you
start a company not just for fun you start the company to make it the best
start the company to make it the best
start the company to make it the best company in the world to rock everyone
company in the world to rock everyone
company in the world to rock everyone together with creativity you might find
together with creativity you might find
together with creativity you might find yourself in the middle of a night toilet
yourself in the middle of a night toilet
yourself in the middle of a night toilet on a business plan or designing a new
on a business plan or designing a new
on a business plan or designing a new product feature which is great another
product feature which is great another
product feature which is great another thing is focused because there are so
thing is focused because there are so
thing is focused because there are so many aspects to writing an Essen company
many aspects to writing an Essen company
many aspects to writing an Essen company like logistics legal marketing design
like logistics legal marketing design
like logistics legal marketing design and you need to know the basics of all
and you need to know the basics of all
and you need to know the basics of all of them you don’t need to be as super
of them you don’t need to be as super
of them you don’t need to be as super competent in all of those areas but you
competent in all of those areas but you
competent in all of those areas but you need to know the basics and be able to
need to know the basics and be able to
need to know the basics and be able to go deeper if necessary so then goes the
go deeper if necessary so then goes the
go deeper if necessary so then goes the bad things that happen to you after you
bad things that happen to you after you
bad things that happen to you after you become an intrapreneur first one is
become an intrapreneur first one is
become an intrapreneur first one is anxiety the thought of failure will come
anxiety the thought of failure will come
anxiety the thought of failure will come across every intrapreneurs mind and
across every intrapreneurs mind and
across every intrapreneurs mind and sometimes it might take over and get you
sometimes it might take over and get you
sometimes it might take over and get you into a little depression another thing
into a little depression another thing
into a little depression another thing that together with a last time you might
that together with a last time you might
that together with a last time you might have some health problems bad eating
have some health problems bad eating
have some health problems bad eating habits not enough physical activities
habits not enough physical activities
habits not enough physical activities smoking or drinking alcohol they all add
smoking or drinking alcohol they all add
smoking or drinking alcohol they all add up at some point of time and next goes
up at some point of time and next goes
up at some point of time and next goes the ugly changes first one is too
the ugly changes first one is too
the ugly changes first one is too critical because you’re so ambitious and
critical because you’re so ambitious and
critical because you’re so ambitious and you want to create the best company in
you want to create the best company in
you want to create the best company in the world you want only the best stuff
the world you want only the best stuff
the world you want only the best stuff right so you become overly critical
right so you become overly critical
right so you become overly critical towards other people’s ideas or
towards other people’s ideas or
towards other people’s ideas or performance and you might find yourself
performance and you might find yourself
performance and you might find yourself in a position of a bad guy who is always
in a position of a bad guy who is always
in a position of a bad guy who is always trying to find something to nag about
trying to find something to nag about
trying to find something to nag about another is suspicion because eventually
another is suspicion because eventually
another is suspicion because eventually at some point of time you’ll you’ll
at some point of time you’ll you’ll
at some point of time you’ll you’ll encounter lies or Cheney didn’t work and
encounter lies or Cheney didn’t work and
encounter lies or Cheney didn’t work and this will undermine your beliefs in in
this will undermine your beliefs in in
this will undermine your beliefs in in people a little bit so but let’s go to
people a little bit so but let’s go to
people a little bit so but let’s go to more factual things what changes do
more factual things what changes do
more factual things what changes do companies face just some examples from
companies face just some examples from
companies face just some examples from running our company after we just
running our company after we just
running our company after we just started we were we’re in giving out
started we were we’re in giving out
started we were we’re in giving out loans on expert methods so we were
loans on expert methods so we were
loans on expert methods so we were basically looking at a person’s profile
basically looking at a person’s profile
basically looking at a person’s profile and deciding whether to give him or her
and deciding whether to give him or her
and deciding whether to give him or her alone or not we thought we were doing
alone or not we thought we were doing
alone or not we thought we were doing quite a good job until the actual
quite a good job until the actual
quite a good job until the actual results came in and it turned out that
results came in and it turned out that
results came in and it turned out that the default rate the non-paying loans
the default rate the non-paying loans
the default rate the non-paying loans was more than fifty percent it was
was more than fifty percent it was
was more than fifty percent it was fifty-four percent so it’s it was even
fifty-four percent so it’s it was even
fifty-four percent so it’s it was even worse than tossing a coin we were wrong
worse than tossing a coin we were wrong
worse than tossing a coin we were wrong more times than we were right after that
more times than we were right after that
more times than we were right after that we were able to gather statistical data
we were able to gather statistical data
we were able to gather statistical data and create a good scoring model and
and create a good scoring model and
and create a good scoring model and afterwards our default rate gradually
afterwards our default rate gradually
afterwards our default rate gradually went down and right now it’s below
went down and right now it’s below
went down and right now it’s below market average another example but
market average another example but
market average another example but that’s a good example of a change we had
that’s a good example of a change we had
that’s a good example of a change we had a bad example is when we decided to
a bad example is when we decided to
a bad example is when we decided to create a new revenue stream we wanted to
create a new revenue stream we wanted to
create a new revenue stream we wanted to add a small button on our website saying
add a small button on our website saying
add a small button on our website saying you don’t want two thousand as you want
you don’t want two thousand as you want
you don’t want two thousand as you want more 10,000 or even more just apply it
more 10,000 or even more just apply it
more 10,000 or even more just apply it just fill this application and will
just fill this application and will
just fill this application and will transfer it to some bank and they might
transfer it to some bank and they might
transfer it to some bank and they might give you this loan so but this button
give you this loan so but this button
give you this loan so but this button stained on our website slightly less
stained on our website slightly less
stained on our website slightly less than for a week why because we saw a
than for a week why because we saw a
than for a week why because we saw a sharp decline in our sales so basically
sharp decline in our sales so basically
sharp decline in our sales so basically this little button was cannibalized in
this little button was cannibalized in
this little button was cannibalized in our sales because some people who would
our sales because some people who would
our sales because some people who would have taken our loan they were instead
have taken our loan they were instead
have taken our loan they were instead opting for a bigger amounts and we had
opting for a bigger amounts and we had
opting for a bigger amounts and we had to close this opportunity so in general
to close this opportunity so in general
to close this opportunity so in general I could say that entrepreneurship is
I could say that entrepreneurship is
I could say that entrepreneurship is constant race towards adaptation and
constant race towards adaptation and
constant race towards adaptation and change sometimes you might feel
change sometimes you might feel
change sometimes you might feel comfortable running your company but if
comfortable running your company but if
comfortable running your company but if you don’t adapt and change you might
you don’t adapt and change you might
you don’t adapt and change you might find yourself in big barrel for example
find yourself in big barrel for example
find yourself in big barrel for example codec they used to be quite popular in
codec they used to be quite popular in
codec they used to be quite popular in the 80s and 90s but then smartphones
the 80s and 90s but then smartphones
the 80s and 90s but then smartphones game and electronic cameras and where
game and electronic cameras and where
game and electronic cameras and where are they now
are they now
are they now they’re in between big peril another but
they’re in between big peril another but
they’re in between big peril another but there are good examples for example
there are good examples for example
there are good examples for example Nokia in the in the early 20th century
Nokia in the in the early 20th century
Nokia in the in the early 20th century Nokia were making all kinds of stuff
Nokia were making all kinds of stuff
Nokia were making all kinds of stuff rubber boots cables military equipment
rubber boots cables military equipment
rubber boots cables military equipment personal computers but then they ditched
personal computers but then they ditched
personal computers but then they ditched all of those products in early 90s in
all of those products in early 90s in
all of those products in early 90s in favour of just telecommunication devices
favour of just telecommunication devices
favour of just telecommunication devices and they became super popular and right
and they became super popular and right
and they became super popular and right now they might have some other kind of
now they might have some other kind of
now they might have some other kind of problems but at that moment they really
problems but at that moment they really
problems but at that moment they really rocked concerning this kind of topic
rocked concerning this kind of topic
rocked concerning this kind of topic pivots there is a great book by Erich
pivots there is a great book by Erich
pivots there is a great book by Erich rice called the Lean Startup it goes way
rice called the Lean Startup it goes way
rice called the Lean Startup it goes way deeper and I recommend it to anyone who
deeper and I recommend it to anyone who
deeper and I recommend it to anyone who wants to run their own company at some
wants to run their own company at some
wants to run their own company at some point of time so concerning doing
point of time so concerning doing
point of time so concerning doing business in Ukraine I think right now is
business in Ukraine I think right now is
business in Ukraine I think right now is quite a good time to start a business in
quite a good time to start a business in
quite a good time to start a business in Ukraine why first of all the business
Ukraine why first of all the business
Ukraine why first of all the business climate is getting better according to
climate is getting better according to
climate is getting better according to World Bank’s Doing Business ranking this
World Bank’s Doing Business ranking this
World Bank’s Doing Business ranking this year Ukraine went 16 positions up we
year Ukraine went 16 positions up we
year Ukraine went 16 positions up we still got a long way to go from the 96
still got a long way to go from the 96
still got a long way to go from the 96 place but the situation is really
place but the situation is really
place but the situation is really getting better another thing is that no
getting better another thing is that no
getting better another thing is that no one quite knows what is the good the
one quite knows what is the good the
one quite knows what is the good the great place to be in right now because
great place to be in right now because
great place to be in right now because you know there is a saying oh here she
you know there is a saying oh here she
you know there is a saying oh here she was in just in right place at the right
was in just in right place at the right
was in just in right place at the right time everyone knew where those right
time everyone knew where those right
time everyone knew where those right places were a few years ago in some
places were a few years ago in some
places were a few years ago in some present administration tech service or
present administration tech service or
present administration tech service or some other murky government agency but
some other murky government agency but
some other murky government agency but no one does know where this right places
no one does know where this right places
no one does know where this right places is now so whatever you do either copy a
is now so whatever you do either copy a
is now so whatever you do either copy a business model of some Western company
business model of some Western company
business model of some Western company or create your own fashion brand or
or create your own fashion brand or
or create your own fashion brand or start making donuts it could be the next
start making donuts it could be the next
start making donuts it could be the next big thing another thing is that there is
big thing another thing is that there is
big thing another thing is that there is funding available there are lots of
funding available there are lots of
funding available there are lots of different funding programs both
different funding programs both
different funding programs both commercial and governmental there are
commercial and governmental there are
commercial and governmental there are lots of VC companies venture capital
lots of VC companies venture capital
lots of VC companies venture capital companies that are looking to fund a
companies that are looking to fund a
companies that are looking to fund a good idea you just have to
good idea you just have to
good idea you just have to up with one finally for those of you who
up with one finally for those of you who
up with one finally for those of you who are thinking of becoming an entrepreneur
are thinking of becoming an entrepreneur
are thinking of becoming an entrepreneur and not knowing where to start here is
and not knowing where to start here is
and not knowing where to start here is my very short list first read adequate
my very short list first read adequate
my very short list first read adequate media TechCrunch words everything that
media TechCrunch words everything that
media TechCrunch words everything that has business in it another one is go to
has business in it another one is go to
has business in it another one is go to a conference networking is highly
a conference networking is highly
a conference networking is highly important meet with people you might get
important meet with people you might get
important meet with people you might get a good piece of advice or you might find
a good piece of advice or you might find
a good piece of advice or you might find a partner for your business or maybe
a partner for your business or maybe
a partner for your business or maybe eventually you might even find an
eventually you might even find an
eventually you might even find an investor and number three if you already
investor and number three if you already
investor and number three if you already have an idea you might consider getting
have an idea you might consider getting
have an idea you might consider getting into an incubator this is something
into an incubator this is something
into an incubator this is something between school for entrepreneurs and the
between school for entrepreneurs and the
between school for entrepreneurs and the venture capital company that will help
venture capital company that will help
venture capital company that will help you and and fund you and help your
you and and fund you and help your
you and and fund you and help your business grow so that’ll be it thank you
business grow so that’ll be it thank you
business grow so that’ll be it thank you for your attention
for your attention
for your attention [Applause]
”
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