Founder Tips. Felix Khachatryan, Ubank

    “Founder’s Tips” once again introduces Megamind readers to the stars of the IT market, the founders and managers of their own business.

    Felix was born on March 11, 1989 in Yerevan, graduated from the Russian-Armenian University and managed to take part in the creation of several startups: inTaxi, uTalk and Global Searching Systems. Now Felix Khachatryan is working on Ubank as a managing director and co-founder of the company.

    Mr. Khachatryan formulated 8 short tips for readers of Megamind.

    Tip number 1. Today mono-business is a little dangerous, because it has too heavy and wide risk structure. The investment portfolio should have several directions, like a living organism - legs, otherwise any shaking can knock down a business. And two will be more difficult to rise.

    Tip number 2 . Provide at least a partial sales guarantee before creating the product that you intend to sell. Before investing your time (and this is the most valuable) in your business, try to create the right atmosphere for the further implementation of your product. In other words, try to find the right partners whose audiences might be interested and useful for your product, offer your partners the best conditions, thereby ensuring the best pilot launch of your product without the serious expense of classic marketing.

    Tip number 3 . Learn and use competitor products more often than yours. Feel free to borrow ideas from other companies, but try to completely immerse yourself in the idea and put your spirit and logic into its implementation, regular copy / paste never works.

    Tip number 4 . Never forget about the quality support of your product. Often, lively and professional communication of your customer support with the obligatory presence of a sense of humor is the key to the loyalty of your client specifically to your service, regardless of the number of bugs and other difficulties.

    Tip number 5. Concentrate on the main thing, determine the real goals for the product, and not just your personal desires. You, as the “parent” of your product, constantly want to add something new to it that the team calls “feature” as a disease. You cannot blame this, but try to determine the correct proportion of innovations. Keep the right balance.

    Tip number 6 . Forget about relaxation as a separable concept from work. If you are resting from work and you need it, then you are not doing your job. Your business is something you should think about in the best moments of your vacation. It is then that the best ideas come that do not come into routine everyday life.

    Tip number 7. Break the days of the week into different topics. It is clear that it’s more convenient for you to concentrate on the part of the business that you like or get more, but you need to remember that every aspect of the business is important and needs attention. Give each day in the week your theme and immerse yourself in it to improve and optimize processes.

    Tip number 8 . Try to draw conclusions from your own mistakes and fakaps. Try to hold the rod in you. Sooner or later, you need to get up on one of the parties and make decisions. Over time, you need to create and maintain that set of qualities that is most comfortable for you and the people around you - and adhere to it, both in work and in life.
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