Olga Rachko: The Hidden Challenges Behind Success
Olga Rachko: The Hidden Challenges Behind Success
Olga Rachko is a captivating beauty who infects everyone around her with her energy and optimism. As the winner and mentor of the “Lady Boss” project, a wise leader of her own company, and the curator of the “My Business” project, Olga shared with us the secrets of her high achievements and revealed the hidden challenges behind success.
More Than Just a Boss
Olga joined the “Lady Boss” project at the request of her team. In her view, the relationship between a leader and their subordinates should be based on mutual respect and trust. A leader must understand their responsibility towards their team and fulfill all obligations to their people, no matter the circumstances. The success of any enterprise is the achievement of the entire team, and a leader should be grateful to their specialists for their hard work and time invested.
In an interview with a Belarusian portal, Olga admitted that after participating in the “Lady Boss” project, she realized that she is “not just a boss, but also a lady,” and it gave her a second wind. After participating in the “My Business” project, she concluded that there are many talented young entrepreneurs in Belarus. People are eager to do something, develop, and lead teams of specialists. Our future is in very creative and constructive hands.
Crisis Management and Leadership Styles
As a crisis manager, Olga’s main task is to help companies in crisis find optimal solutions. She and her colleagues do everything possible to ensure that employees of such companies receive all wage arrears. Their responsibilities also include searching for and identifying assets, recovering receivables, and other steps necessary to save the company from collapse. If all legal methods fail, Olga and her colleagues accompany the companies through the bankruptcy process.
Olga believes that female management methods are often more effective and correct in the long term than male methods. She associates direct aggression and pressure more with men, while diplomacy and finding equally acceptable solutions for each side are more characteristic of women. Women have better-developed empathy and are more patient. In the long run, a sequential and cautious strategy wins.
Advice for Aspiring Entrepreneurs
Olga advises beginners in business to listen to themselves and choose a field that can inspire them to move forward even in the most challenging times. She warns that significant victories come at the cost of considerable effort, but one should not give up. Using mistakes as a springboard for growth is essential. The main thing is to find a business that you love.
Olga recalls a situation many years ago when she accompanied a company in Gantsevichi through the bankruptcy process. It was a cold Belarusian December, and one of the primary tasks was to find funds to pay the employees’ salaries. Despite working with pneumonia, which later led to serious complications, Olga managed to find the funds and personally delivered the salaries to the employees.
The Importance of Adequate Self-Assessment
Olga emphasizes that success should not lead to losing touch with reality. She often sees young entrepreneurs who, after their first successes, are overwhelmed by euphoria, which can lead to the company’s decline. For example, instead of investing in development and employee training, a director might buy plasma TVs, gaming consoles, and table hockey for the staff. This shift in focus can lead to decreased productivity and reduced profits, ultimately forcing the former leaders to look for jobs themselves.
Olga believes that business planning and risk assessment are essential. They allow for better preparation and a more sober look at the situation. Good analytics at the start can save a leader from losing time and money. Sometimes, after market analysis, an entrepreneur may decide not to invest in a particular business and find another area.
Olga concludes that even with excellent management, a business can be affected by situations beyond the leader’s control. It is crucial to understand this during both failures and successes. Adequate self-assessment and learning from mistakes are key to long-term success in business.
