Maxim Behar: The real business fundamentals are honesty, integrity, loyalty

Maxim Behar shares a first-person story in the seventh edition Almanac 2021 of "your BUSINESS" magazine under the special project "Managers share - successful cases in Bulgarian business". Behar writes about the great changes in the business sector as a result of the pandemic, the challenges leaders are facing and what underlies the foundations of a successful business development.

As Soon As Possible …

I thought for a long time about the Bulgarian title of my recently published book, and I couldn’t resist the idea of “ The Morning After,” although at the risk of explaining to anyone who hasn’t read it yet what lies behind it. The book is almost sold out, and it has hardly been found in any bookstore in Bulgaria for the last three months. Despite that, the more time passes, the more I am convinced that this title is the new replacement for the well-known abbreviation ASAP (as soon as possible) or — as fast as it can.

We are used to writing almost every day, mainly in our e-mail correspondence — “answer me asap,” “go there asap,” “contact the client asap” …

Like a devastating and unexpected tornado, the COVID-19 pandemic swept away any possibility of leaving our uncompleted business tasks for the next day or the day after.

Of course, this is the most minor change the pandemic has brought to our lives.

It was clear to us that sooner or later, this could happen — we would not have even a minute to delay making any decisions because then it would be too late. Sighs and excuses like “wait and think” and “let’s not make hasty decisions” already sound so old-fashioned that if one day I write a book about forbidden phrases in business communication, they will probably be among the first. Indeed, you know one of my critical rules in business, which I have been preaching in university lectures, business presentations, and speeches at forums worldwide for years.

“The worst decision is better than no decision.”

Ten years ago, there was a lot of disagreement with this prophetic law, but in the last year, I have not heard a single word against it. An essential part of the business is making fast, adequate, reasoned, and accurate decisions. But there are many details to consider in this process to make it less risky. The most crucial element is that each manager needs to have a solid and well-prepared team to conduct quick consulting meetings online and, when we return to our offices months or years later — to manage understanding each other in seconds from a first glance.

Another essential element is putting a lot of knowledge and experience into decision-making, a prerequisite for effective, accurate decisions. At least now, a considerable amount of information and expertise is already available, and there’s no place for making excuses. Nowadays, we frequently face information overload from a wide variety of sources, and the great advantage is that we can all sift through this news, allowing us to learn something new, not always positive, but always helpful in the end.

The Business Pyramid

Watching the business pyramid on my laptop screen every day is amazing, the same way I imagined it twenty years ago. There are always two essential elements required for the development of any business — the number of customers and the previous experience. Of course, I’ve often argued with colleagues who have told me, “ Max, one client is enough if he’s big and pays well.” Of course, this is a big misconception. This is why companies often go bankrupt — they rely on one big customer, who immediately cuts their budgets for external services, whatever they may be, if a minor crisis or problem occurs. Therefore, this part of the pyramid must always be very carefully and proportionally arranged, and just as proportionally builds the other — the experience. And with each passing day, it is becoming more and more critical — not only for the decision-making process but also because the dynamics of business change are already with the speed of light.

Every day, even every hour, we generate new ideas on how to make our business more competitive and more profitable, and if we are not always In the right place and at the right time, then we have indeed “missed” the train.

In that case, we need patience and consistency to catch up.

And, of course, profit is at the top of the pyramid, which allows us to invest in a team or technology to develop the business and improve our work performance for our clients. But remember — without this critical foundation, our customers, and our experience, we would not be able to reach the very top of the pyramid.

As crucial as this pyramid is, more is needed to understand the rapid business movement these days and in the future successfully.

The most recent law in crisis management precisely states: “ First react, then polish!”.

I accept it with no doubt, and it aligns with my concept of making quick decisions.

Or, in short:
- 24/7 online,
- 24/7, ready for a good reaction,
Another 24/7 availability to accept fresh new ideas to evaluate through the prism of our businesses.

Additionally — no matter how fast the business moves or the information, concepts, and visions for success change, the fundamentals are honesty, integrity, and loyalty — to the business, customers, and the team. And for all these things, for their changes, new laws, and dynamics over the years, the minutes “until tomorrow” will go faster and faster…

Then, one morning, a new law of life will dawn again…