5 TOP TRENDS FOR UKRAINE AND THE WORLD FROM VASYL KHMELNYTSKY
10 years ago, says the founder of UFuture holding Vasyl Khmelnytsky, for success in business it was important to immerse yourself as much as possible in its processes and not to waste time on external factors. Now, he stressed during a speech for the Young Business Club, the world is changing too fast – not to think about current trends is very dangerous.
New technologies destroy entire industries and professions. To succeed in business, you need to consider not only what you like, but also what scares you. So these risks can be calculated, predicted and prepared for.
The businessman advised to pay attention to 5 trends that will be relevant for the world and Ukraine in the next 5-20 years.
In search of talent
If you want to create a cool business, build a cool team. And a cool team are talented people. Look for talented young people, educate them, create your own culture, give a share of the profits – in this case you will stay competitive.
“The world is fighting not for land or metal – the world is fighting for talent. Developed countries are fighting for our talents. It takes 25 years and millions of dollars to grow a professional. And not everyone will be talented. That is why it is easier to create conditions and attract specialists from such countries as Ukraine,” explained Vasyl Khmelnytsky.
Big cities will become even bigger
The reasons are very simple: in Kyiv, compared to other cities in Ukraine, better education, medicine and service. There are more opportunities there. People from small towns will continue to move to the capital, and real estate prices will not fall. If you want to have a passive income, invest in real estate in big cities.
If you want to start a business in a small town because there are no competitors there, keep in mind that there may not be customers. All this must be taken into account.
The middle class will shrink
The middle class – people earning between $1,000 and $3,000 – will shrink. The reason is the development of new technologies, artificial intelligence, robotics and more. At the same time, the number of entrepreneurs will increase.
Over the next 5 years, Ukraine’s economy will not grow
“I do not like this trend, but it is a reality. For the country's economy to develop rapidly, it is necessary to build a proper foundation. The foundation of economic development is consumption. For the economy to develop, it is necessary to build a factory where people will work, where they will earn money and then buy goods and services. Accordingly, domestic demand will rise and the economy will grow. Unfortunately, production is a difficult task. It takes time. Therefore, I do not predict rapid development in the coming years, but there are prerequisites that could change the country's economy in 5-10 years. If the things that were mortgaged will develop, we have a chance,” said the businessman.
You will have to study and relearn all your life
It will no longer be possible to learn one thing and go through it with it whole life. We will have to constantly learn, keep up with the times, relearn, look for new trends and implement them.
7 key mistakes that most entrepreneurs make:
1. Poor analysis and market research.
2. Not listening to the client.
3. Business location: first business – then location, not vice versa (you can not adjust the business to the location).
4. Ineffective marketing.
“If you have a cool product and nobody knows it, it doesn't make sense. Spend money on marketing. Everyone should know your product,” said Vasyl Khmelnytsky.
5. Excessive scaling: there is no profit yet, and you are already starting to scale. It is wise to scale only if the product is already making money and you already understand the customers in the regions.
6. Underestimation of competitors.
7. Inability to change.