Report for the first half of 2020

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18 August 2020

Comparing all the hardships and difficulties I have had on my way, these days, I am just smiling, because for me 2020 is like a cheap comedy detective story, which I have to watch to pass the time before my flight.

Himtrust

My brother and I took different paths not only in business but also in life. I bought his share in Himtrust. He was always in my shadow and behind my back, but now he is on his own. I wish he gets a new experience that will let him rise, not drown.

In 2019, I moved to Nizhnekamsk and emerged myself into business. I realized I can build a global chemical brand, but my brother did not support me. What he had was enough for him, but I saw a start of a decline in a current level of development. I bought out my brother’s share of the company, and now I am building a new global chemical brand, Himtrust.

When my brother left the company, I conducted an audit on production and all scientific activities carried out under him. I had to restructure the production and research processes to focus on long-term development and quality.

I am changing the strategy, using the principles I adhere to. I will write a post about it at the end of 2020. One of these principles, which is also a part of my strategy in any business, is to hire people who are smarter than I am and promote their development.

Pandemic did not stop Himtrust. My task was to survive during this period. It was difficult, but the only result was a sales reduction for March and April by 50% compared to last year. Now everything has recovered and the sales increase for May and June was 30%.

D&B Systems

In my opinion, DIB systems is stagnating. Other shareholders, however, disagree. Overall, everything is going well and there are orders and sales, but I can see the need for a new software. Designing a new version will take about 2-3 years. I have to try to convince other shareholders to create a new version of DIB systems in 2021.

Eganov Investments Ltd.

A new short-term investment strategy was finalized. The average transaction time is no more than one hour. We continue to collect statistics and refine money management. We plan to reach 30% per annum in 2020.

Children

This year I talked a lot with my eldest daughter. We discussed goal setting strategies and skills to ask questions. When Anastasia shared with me her new idea or desire, I asked her: “Why?” We live in a world of desires and wishes. My children need to know how to control the desires imposed by marketers. For example, Anastasia loves to travel. I asked her about her finances and money sources. How will she earn money to make her wishes come true? She got a little confused. I explained to her the necessity of proper usage of knowledge and skills to earn money to spend them on desires. However, to achieve these goals, she needs to spend 90% of the time doing the routine work. This is the only way to free herself from economic slavery and form a good capital, to spend 90% of her time on her desires.

Books

During these six months, I have re-read many books on management by authors such as Goldrat, Deming, Adizes, Drucker and others. In the first half of 2020, I read an average of 50 pages per day. These are mainly books on management and marketing. Although sometimes I indulge myself with books about Russian history. I also read “Stories and Tales” by Hemingway, “The Brothers Karamazov” by Dostoevsky. I did not receive any pleasure from reading Dostoevsky, on the contrary, I get increasingly disappointed in Russian classics. It oppresses with its hopelessness. I bought a special edition of the collection of Russian fairy tales, and, interestingly, they teach the exact opposite from the classics – there is always a way out, even from the coffin.

English

I keep studying English for 30-40 minutes a day. My focus is listening and reading skills. Currently, I am not progressing, but I keep the language up. I can only listen to English podcasts and read polyurethane magazines instead of my scheduled books and movies.

Brazilian Jiu-Jitsu

I keep training a group of wrestlers at the @gojirajj_chelny school. I, myself, cannot train every day, but I still manage to do it three times a week. I noticed that coaching improved my technique, and there is an understanding of where I need to work harder, in order to build a game plan for championships. Unfortunately, I’m not sure that I will be able to compete in the BJJ.

Author: Denis Eganov
Russian entrepreneur
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