What would I have told the July-1-2022 version of me? It’s gonna be working with teams and clients, but mostly on yourself, buddy, keep itin mind. Kogifi, XP agency, turned out to be agreat litmus paper to redefine my perspective. On global networks and culturalaspects. On stability and payment delays. On friends and colleagues. Here we gowith 5 lessons I’ve learnt so far as a Managing Director at Kogifi. Go aheadand learn from my example.
1. Adapt or die, while going global
Many IT companies struggle to go global because theyuse local collaboration models in international markets. Each region, whether it’s Asia, the USA, or the Middle East, has its unique way of working and perceiving partnerships. For instance, clients from the Middle East prioritize relationships and value a flexible partner.
This is why we've focused on building these relationships through frequent travels and meetings, aiming to be seen as partners rather than just IT project executors. This approach has significantly boosted our projects in the Middle East, making it our second-largest market.
2. Expectations vs Reality
Working with large multinational corporations is a dream for many IT firms, including our competitors. However, this path is far from smooth. Stringent procedures, processes, and multi-layered approvals can derail any project plan. Plus, impact cash flow significantly. And as we’re speaking of it…
3. The biggest challenge: cashflows
No, it’s not selling or acquiring new projects. The biggest challenge for a Managing Director is managing cash flows. Even though we have projects worth over 7 million PLN lined up for the next 5-7 months, payment delays (often at least 30 days), plus complicated invoice process,create major operational challenges.
This has shown me how even stable companies can face financial difficulties. Many rely on bank tools to finance projects. Now, it’s common practice to include the cost of money over time and buffers for payment delays in an IT project pricing.
4. Friends vs colleagues
One of my personal mistakes was prioritizing hiring people I liked over their professional expertise. Unfortunately, this model didn't work. These colleagues often lacked the company spirit, leading to ineffective collaboration and wasted time. I've learned that professionalism must come first.
5. Trust is the best binder
Trust between founders and management is crucial for success. Over two years ago, Maciej and Jakub gave me significant responsibilities. We've had many highs and lows, but these experiences have strengthened Kogifi. We're now looking forward to future opportunities with confidence and an open mind.
So, here I am, the 3rd round at Kogifi’s just started. Embracing diverse cultures and collaboration styles, while ensuring financial stability is my daily life. Thank you to everyone who's been part of this journey. Here's to many more successful years ahead!
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