Ukrainian Female Entrepreneur – WAVE Odessa Business School

Ukrainian Entrepreneur - WAVE Odessa Business School
We see in the tabloids and magazine headings businesswomen claiming “have it all”. Modern society tells us about unlimited opportunities, but what about the truthfulness of implementing them in real life? Ukrainian entrepreneur Ruzanna Arutiunian shared thoughts about founding a WAVE Odessa Business School and the role of a working mom.

At what point of your life you realized that you want to create your own company - a business school?

It all started with a dream during university years. My friend and I were shocked by business education in Ukraine and couldn’t understand what the lecturers were telling us, and what this had to do with business. Then we realized that we would open our business school, but we needed to gain a solid experience first. 15 years later I met with my university friend and we put our minds in creating WAVE Odessa Business School. By the time we started working on it, we’d got the baggage of knowledge that we were looking for. I worked in many universities and institutions, my partner had got a professional business education. Now was the time to implement accumulated knowledge in fulfilling our common dream. My business school kicked off in April 2015.

WAVE Odessa Business School

provides modern learning process, creative educational atmosphere, experts with practical knowledge and business network.

What key aspects do you think are essential to establish your business in the first place?

In my opinion, your idea is only 1% of success. 99% are opportunities, investments, communications, and work. Moreover, according to statistics, only 5 percent of startups survive in five years, and I am not surprised, frankly. Many founders reach the process of burning out and give up on implementing an idea. Also, the first 4-5 years of company’s functioning is fundamental period when you need to give all your energy and zest to.

Ukrainian Female Entrepreneur - WAVE Odessa Business School

How seriously have you been taken in a Ukrainian business world as a female entrepreneur before and now? Have things changed?

To be honest, I have always been a strict teacher at university, and my reputation in the business as an “iron lady” was consolidated right away. During teaching years, my main task was to motivate and guide students, give them the confidence to pursue their dreams. Therefore, I was always perceived as a strong and serious leader in business. I understand where this dissonance comes from in the image of a female entrepreneur. Looking at Viktoriya Tigipko, a Ukrainian businesswoman who built a global venture company, a mother of three, we can say that you can do anything regardless of your gender.

What is the main difficulty in creating your own business school in Ukraine?

Frankly, the problem of finding investors is one of the most difficult and disappointing. Ukrainian and Western investors are radically different figures in business. For example, a foreign investor has a bigger mission along with macro tasks. A Ukrainian investor  will demand results in a month or two. I was very lucky with my American investor, as well as with my Ukrainian business partner, with whom we have been through thick and thin. It is vital to understand that a business school is a very complex and costly business model. Many naively believe that you can make quick money by collecting speakers and making a profit on the difference from sales. But this is a huge misconception. I believe that if you do not follow the notion of “long life learning”, then your business will be at the finish line in 2 years.
A one-day business conference is a seven-minute motivation.

What three things motivate you the most?

I will be honest with you, just like any business person, money motivate me, and the opportunities they open for me in the long-run. I want to be a free European person, explore the world and improve my business. To add, about 35 specialists who conduct business training in my school motivate me every single day.  For me, the real motivation is a beautifully erudite opponent with whom you can have deeply meaningful conversations and discover new truths. It gives me a huge drive.
Ukrainian Entrepreneur - WAVE Odessa Business School

How do you balance work and family life?

It’s highly difficult to give 100% of my attention to manage a company while raising two small children. I used to think that it was perfectly possible to bring up children with the help of nannies or grandparents. Now my brain can concentrate on work only when I’m sure about the wellbeing of my children. It may be a revelation for many women starting a business. However, I am incredibly lucky, as I have a very smart and reliable executive director by my side. I am not afraid to delegate most of the business processes to him. What I can assure is that I treat my business as a third child. I love it and care in every way about its success and development.

Ukrainian Entrepreneur - WAVE Odessa Business School

What piece of advice would you give to aspiring female entrepreneurs or women who consider starting a business?

Firstly, aspiring businesswomen should learn how to create an effective business model. They need to be able to sell their products and have an excellent understanding of marketing to promote it. Secondly, they must have a clear and balanced business plan to implement their ideas. Thirdly, they need to get a partner and a reliable team. Sometimes a partner is even closer than a friend. This person should be with you both in sickness and in health, which is very difficult in our time, where everyone wants immediate results. 

Ukrainian Entrepreneur - WAVE Odessa Business School
I will end the interview with the words of the co-founder of Monobank, Oleg Gorokhovsky: “Your idea is 1%, the implementation of your idea is 10%, and the sale of the final product of your idea is 100%.”

Thank you Ruzanna for sharing your story with our community. We wish you all success.

Read more about WAVE Odessa Business School and follow them on Instagram of Facebook.

Related Articles

How to Prevent Burnout And Take Care of Yourself As An Entrepreneur? Power Talk & Network with Gitanjali More

Unlock the secrets to preventing burnout and nurturing your well-being as an entrepreneur with exclusive insights from our online meeting with Gitanjali More. In this engaging event, Gitanjali, a renowned entrepreneur and wellness advocate, shares invaluable strategies to prioritize self-care while juggling the demands of running a business. Gain practical tips, personalized routines, and effective stress management techniques tailored specifically for entrepreneurs. Join us as we delve into the world of work-life balance and discover how to thrive both personally and professionally. Don't miss this opportunity to revolutionize your approach to entrepreneurship and embrace a healthier, more fulfilling journey!

This content is for Membership - Billed Annually, Membership - Billed Monthly, and Membership - Community Only members only.
Log In Register

Marketing Automation for Your Business Growth with Sarah Seyr

This speech is about marketing automation and how to build an effective marketing strategy. The speaker highlights the importance of having a business case in place to justify the budget for buying traffic, as well as the need to continuously provide value to customers at each step of the sales funnel. The talk also emphasizes the need for human involvement in the marketing process, in order to effectively track and plan marketing activities.

This content is for Membership - Billed Annually, Membership - Billed Monthly, and Membership - Community Only members only.
Log In Register

Business woman in Iran: Pardis Rostamzadeh

Building a business from scratch in a country that has been exhausted by sanctions for over 40 years is already an outstanding achievement. Being a woman in an extremely patriarchal society and founding a successful company in a male-dominated field – is beyond any regular praise. In this article, Pardis Rostamzadeh will give us an insight into how it is like to be a female entrepreneur in modern Iran.

6 Steps to Owning Your Niche

Think of a bag. When you own it, you feel secure knowing that it’s yours and that you can utilise it in a way that feels best for you. You have the confidence to know it’s not borrowed, stolen or rented. You must still be careful with it, but it’s not a worry.
It’s the same when it comes to your business niche. Ownership prevents us from fearing a saturated market.

5 Elements of Courageous Conscious Leadership by Violetta Pleshakova

In this talk the speaker discusses leadership and the qualities that make a successful leader, such as courage and mindfulness. Courageous conscious leadership is defined as a way of showing up that is driven by higher purpose and that cares holistically for everyone involved. Violetta emphasizes the importance of living with purpose and aligning one's values with one's behaviors. She advises entrepreneurs to prioritize their message and purpose rather than rushing to achieve success.

This content is for Membership - Billed Annually, Membership - Billed Monthly, and Membership - Community Only members only.
Log In Register

Responses