Vasyl Khmelnytsky: “Its important to question any point of view and check information”

At any time, especially during a crisis, you need to collect relevant data: separate important from minor, not miss business critical events and disregard information garbage. In the special project of the Liga.net, Vasyl Khmelnytsky, founder of UFuture, provided its own guidance on into quarantine and communication frameworks for businesses in times of crisis.

• What are the rules for dealing with information in “peacetime” and “wartime”?

I always apply the same rule — I only rely on reputable and reliable sources of economic, financial and educational information, such as the National Bank, financial institution or R&D centre at Stanford University.

• How to set up and filter information streams?

I listen to information purposefully and only what I am interested in. These may be the speeches of entrepreneurs who have had considerable experience in running a business or professional and trusted information from special services and directors and divisions for information, business and financial units.

• What are the sources of information that should not be taken seriously?

There are many people in our society who give advice to the president, the minister, doctors and politicians. Therefore, I think its necessary to take information from people who are professionals.

• What information is affected on a business decision?

We are an integral part of the global economy and are definitely dependent on it,
therefore, its important to quickly obtain reliable information on the areas that affect your business — falling and rising oil prices, stocks, market analysis, competitor information, etc.

• What time does it take from receiving information to making a decision?

Five minutes to a year – it all depends on the situation or project. Some things are implemented instantly, sometimes it takes a year. In particular, on the UNIT.City Innovation Parks project we are not only watching online, how similar ecosystems are developing around the world, but the team also travelled to America, Europe, China and Israel, met with companies there, took in their experience and new trends and now we are introducing ourselves.

• Whose thoughts should be trusted?

Its important to question everyone’s point of view, not to rely on a single source of information, and carefully review the information you receive.

• How to do business in today’s environment?

Everyone has their own recipes and approaches, but I have five rules — don’t panic, review your own strategies, save your team, cut costs, and maintain relationships with partners and clients.

• What is your assessment of the state of the Ukrainian economy?

The economy is stagnant and I don’t see the foundation on which our production and business will grow in the near future. My team and I are set up to create new businesses, industries and jobs, help entrepreneurs get better — we see no other opportunity for economic growth.