On this episode of The CEO Story, we have Victor Pryshlyak, CEO of United Software. Victor is passionate about matching individuals with great ideas and hardworking and intelligent experts who are tired of working at their tedious job.
Being in sales for more than ten years, both on the service and product sides, working in almost all continents, Victor gained priceless experience and connections. Moreover, he realized that no matter whom you deal with, there’s a “secret sauce” on how to win them over and ensure a long-term collaboration.
Victor quotes Brian Tracy, who once said, “create customers for life,” and he couldn’t agree more with the wise man. Most of his former and existing clients are his friends, and they maintain friendly relations beyond the business part.
With weekly podcasts released, “The CEO Story” takes a deep dive into the success (and sometimes pitfalls) of being your own boss! We encourage each and every individual to candidly share their stories to help other entrepreneurs understand the highs and lows that come with the journey. As always be sure to check out more of our podcast episodes:
*Podcast Website – https://ceostory.buzzsprout.com
You can find Victor at:
Recommended Book: The Pumpkin Plan Strategy
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Together CFO with its main office at 2160 century park east, Los Angeles, California 90067. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client or tax-client relationship with Together CFO or any of its lawyers/CPAs/EA’s. You should not act or rely on any of the information contained herein without seeking professional legal and accounting
Hi, good morning and welcome to another episode of the CEO story. And we’ve got quite an interesting
tale today. So we’ve got Victor Pryshlyack and I’m sorry about the pronunciation of that. From United software.
Victor’s an amazing individual. He’s got a great background of experience. Multi International’s lived in many
different places. It’s got a great story to share with us or Victor. Thank you so much for joining us. How, how
have you been doing.
Victor Pryshlyak 5:07
Thanks for having the Cacy. I’ve been doing great. This day, this week. How are you doing today?
Kc Chohan 5:13
Blessed every day above ground is a blessed there. Right? So, no. So let’s kick it off. So why don’t you start by
sharing a little bit about United software. I know that that’s been around for a few years now, but you’ve got a
whole host of experience before you got to that, but let’s stop that. And then we can work our way back.
Victor Pryshlyak 5:34
Sure. Yeah. I mean. This company is three and a half years old, grows fast, and I’m pretty sure that every. Gas
that you have here. They’re talking about the success of their company. We can say that we are successful. We are
roughly 300 people. Wouldn’t talk about revenue, but we keep doubling in size every year. We kind of be a solid
people. 20 25 40 worked for the few public companies have over 40 clients. And some big names there. You know, the
model that we designed. Was basically a disruptive model. The old sourcing business. We don’t think that they’re
Jewish, traditional, old sort of same companies. They have a bright future. Because the world is changing.
Especially up to COVID. There was a lot of companies who went remote and they really want to have their own teams
worldwide. We are focused on building teams in Eastern Europe and the model that we’re using, it’s called. Bot or
build a parade transfer. That means that we build a team for a tech company in Eastern Europe. And to complete the
transparent model where they can negotiate salary directly with engineers that we hire, we take our flat fee that
covers the operational costs. And the beauty is that they can buy out the team. So basically the slide. Lease
before you buy or rent before you buy. Yeah,
Kc Chohan 6:51
smile. And this is, this is what actually puts us apart from a traditional companies and gives us a big growth.
Amazing. I love it. So. To use EOS terminology. You’ve got a few different uniques that makes you stand very
differently to most of the competitors that I. No a few of them, but not many. What made you come up with it? So
how did you figure out that this was like a really good niche to differentiate yourself from everyone else?
Victor Pryshlyak 7:19
Yeah, it’s a good question. It’s actually, it has been a big struggle. I’m always passionate working with any
company. No matter if I own the company I’ve worked for the company, I still try to be working a hundred percent.
Right. I was working for a previous company. I want to mention the name, but it’s a traditional outsourcing.
Company, actually I can mention the name is called Elyx it’s the global company. And basically what I came across.
And it’s not only me. It’s also by co-founders. David working for similar companies worldwide, is that. The
traditional way on the service companies, they do business and our mind, there’s a conflict of interest when the
service company, which makes money on hourly rates is trying to provide. Solution or. You know, do business with
the tech company and the tech company has a completely different goal. They want to do things on time and on
budget because this is their baby. This is their startup. The. Everybody to care about this baby. And this is in a
nutshell, this is wrong, right? So basically. You can get warm bodies making money on. On our other rights and the
other one wants to do something on time. And on budget. It’s in our priori cannot be a successful part. Connected.
Kc Chohan 8:25
Right. The two sides.
Victor Pryshlyak 8:27
Exactly. So we just had like, how do we call that connect the people that work. On the, in this outsourcing space,
world staffing space and the business, and there’s nothing better than having your own engineers, but nobody is
not. Everybody is Google or Amazon who can get the best of the best in Silicon valley. Right. There are a lot of
great companies in the U S in the Silicon valley, specifically. That really want to have great engineers. They
know that Eastern Europe is rich of talent. But they just don’t have this easy way to kind of build and own their
own team. This is what we do.
Kc Chohan 8:58
Crazy that. We’re having this conversation right now, because we’re literally going through this at the moment
where we created a new piece of technology for our website. And it’s a tax calculator. So if it needed some
special code service and all of this stuff, I have no idea about. So we hired a company to do that for us. But
again, like you said, what pin them on an hourly rate? They’ve never done this before. So what we found out after
the fact was. That we’re effectively paying that hourly rate for that stuff to trend, to do what we need rather
than hiring the person. That’s already done it a thousand times and could do it in one hour rather than 10 hours.
And I’m paying the bill for that.
Victor Pryshlyak 9:42
That’s exactly right. And they would always try to give you more people because this is how they make their own
money. Right. So, So we would try to give you like an added value. They call like the, you know, business analyst
or the QA, or they will try to extend you the team. So. That’s exactly what
Kc Chohan 9:55
happened. So we had one engineer and the guy was in India is really good, but I couldn’t understand what he was.
Keeper speaking in code a language. And I’m giving him simple instructions in layman’s term, simple English. And
it just wasn’t getting through. So we then hired. US-based project manager to kind of do the translation of
English to code language and execution. And it’s like, then you get another layer of an alley reds. And. I was
like very frustrated by the whole thing and what the, the thing that I got out of it the most was you have to hire
the right team, especially as you scale and get bigger. And CPS lawyers. All part of your team is like, When
you’ve outgrown your professional team. Then you need to upgrade the team. And that goes not just for tech, not
just for CPS accounting strategy stuff, but the whole team around you, right? The team that’s got you where you
are today is not the same team. That’s going to get you where you want to be in the future.
Victor Pryshlyak 11:00
That’s right. And, you know, it’s a it’s, as I said, there’s nothing better than having like imagined that those
people that you hired in India, they were your employees. Like they had exactly the same interest in this website
or the calculator being successful. So this is what we try to do. We try to align the interests and often our
engineers for getting stock options for equity of the products they’ve worked with. That actually creates a
completely different experience for them first. Right? So it’s not, they don’t need to replicate it and move to a
different country. To create a successful career. They can still live in the country. They are based and they can
be working with a cool company out of.
Kc Chohan 11:38
what I’m hearing is to get the staff to become more vested and not drag out time. They’re getting compensated. And
then. Potentially Hyatt, but then also on top of that, they get in the kicker of equity in each project. So if one
of them goes to the moon, They could. Become very wealthy.
Victor Pryshlyak 11:59
Exactly right. I am Ukrainian. I was born and raised in Ukraine and I see that. There are a lot of great
engineers. So not only engineers, a lot of great people in Eastern Europe in general. And you kind is going
through the Czech, Poland, all of the
Kc Chohan 12:15
Victor Pryshlyak 12:18
So there’s a reason why they go there, right? Because they try to kind of, you know, to take the ownership of
those of those engineers, because they, the only way for those engineers to be successful is either to relocate to
a different country. Like to the U S this is what happens in India as well. Or basically. Join a company like
ours, where they don’t have to relocate, but still be compensated like if they are relocated. So they still live
like rockstars in Eastern Europe. They get good life. The good. Like work life balance. But the work for a great
company. So this is the mission that we have. We want to basically connect great companies and great engineers
Kc Chohan 12:53
I love it. So what I’m really taking away from this is the value that you place on these guys is not just an
hourly. Employee paycheck to paycheck. You’re really investing back in them so that they’re in a mall, comfortable
place. You telling them that there are, they are of. Very high value to you, making them feel comfortable and
ultimately performance that’s our better. And everybody wins. The client wins because they get a product on time
that they’re like you guys win because you have high. Retention of staff and then eventually that transitions to
the staff within because they get a percentage, they feel comfortable. It sounds like a really good mixture.
Victor Pryshlyak 13:35
Yeah. So two simple things that we solve for businesses, it’s basically the attrition rate, which is very high in
the world right now. So there are a lot, there’s very low loyalty to the brand. No matter if you’re not. Sort of
Google or Amazon, like as long as somebody is coming with better job offer has gone. So we basically held them to.
You know, retain people in Eastern Europe and there is a reason why we have low retention. Attrition rate or
attention, right. The second point is scaling, right? So we have a lot of new clients who come in and they just
raised some, you know, round of funding. And they really need to have a great team, but fast. This is where we
solve the problem we can build, you know, 15, 20, 30 people team. And a quarter.
Kc Chohan 14:15
Wow. Okay. So you have the ability to scale up quickly.
Assess that you have. Boots on the ground and good people know good people and refer them, all people in and it
becomes. An avalanche eventually. Right.
Victor Pryshlyak 14:32
Kc Chohan 14:33
that’s great because that’s how we’ve grown our company together, CFO. It literally it’s referrals, client
referrals, COI referrals, and it’s so much stronger to build like that because people coming in have already heard
how. Life is on the other side of the fence. Right? All the grass is greener on the other side. There’s a lot of
people say, but if they know that and they felt that, or they have a friend that. Then it makes people
transitioning in a lot better. And ultimately it raises the bar for everybody now, because if your competitor down
the street knows that you’re doing this. They’ve got to increase their standards. So the people doing the actual
work at the end of the day benefit the most, because now everyone’s going to eventually, and obviously. That will
take time, but give them a better deal.
Victor Pryshlyak 15:22
Yeah. It’s well, glad that you mentioned the referrals, you know, What we have also noticed is that. That clients
bring bad clients and good clients bring good clients. So basically it’s also important to understand what kind of
clients do you really want to have as a client, and then basically focus. Focused on the referrals.
Kc Chohan 15:39
So true. I have a saying that I use is like attracts, like. So, if you you’re going to use. It’s a good clients, a
good energy. And by the energy, whatever that is, like, whatever you’re putting out into the universe is. Is what
ultimately what comes back right.
Victor Pryshlyak 15:55
Kc Chohan 15:56
So let’s kind of rewind a little bit now. So we’ve talked a little bit about United software. We got some great
nuggets of information, but you didn’t always run this multi-million dollar company and you. You started off in
many different places. So can you kind of share at a high level, your journey across the globe to get to where you
are now in LA? And you. Also along the way.
Victor Pryshlyak 16:20
Yeah. So my first company that I was working for was called beeline. It was, it was Eastern European cell phone.
Cell phone company or the telecom company. I would compare it to like, At and T of middle east or Verizon and
middle east. Then I just basically Laura, on this. Basic sales experience. This is where I became like a sales
rep. And I can tell you that I’m a sales sales guy or a sales rep by nature. This is what I was trying to do, even
though I never liked that in the beginning, but then it just clicked. I was working there for two years. Get some
basic experience. And that was recruited for, by a company called Mia tech. This is Oregon based Portland, Oregon
based company. That is. So, where
Kc Chohan 17:06
was that? Company best. It
Victor Pryshlyak 17:08
was in Ukraine.
Kc Chohan 17:12
From Ukraine. A company from Poland, from Portland.
Victor Pryshlyak 17:16
Portland. Yes, exactly. So there was a posting, they had the opposite Ukraine, but they actually, I was, I was
working as a sales Stripe for. With the east coast. So it was covering.
I’ll be starting from Montreal, Toronto, going down to Boston. I’ll do almost Virginia. So, and they were selling
energy, saving equipment for supermarkets. So like whole foods and Kroger and Walmart where my clients. And so
those kinds of companies, they. Again, it was, it was a very niche product. If you ever seen a produce misting
systems and the supermarkets where you are, you’ve got to produce.
Kc Chohan 17:49
I wish mall restaurants would have them in Vegas, a lot of restaurants at the Mount side, just to keep everyone
Victor Pryshlyak 17:56
Yeah, we call them people misters. Yep. Yeah.
Kc Chohan 17:59
Misting systems and be energy saving equipment for the night, like a cold night shades. Like you sh you closed
down the refrigerators. So they don’t cool.
Victor Pryshlyak 18:07
The. A warm supermarket. So you kind of say.
So, yeah, I’ve been working for a company. For almost like six years. Primarily based in the east coast and new
Haven, Connecticut. And yeah, it’s been a great. Great. Great journey and get some really good connections.
Understanding of the U S market. As I said, I was born and raised in Ukraine. So this is where I got my first us
experience. So when you asked Emily, did
Kc Chohan 18:34
you move at that point from Ukraine to America? Or are you still based in Ukraine?
Victor Pryshlyak 18:39
It’s hard to say, because for the last 17 years I’ve been living on the airplane. So I’m all over the place. You
know, I live a. You know, I am in Ukraine right now. Like next week I’m in Dubai. We kept from in us and we got
from an Israel. So this is still my journey, right? So this is still how I live. And, and yeah, so after me
attack, Like five or six years. I don’t remember. I joined us it company. Alex. And this is where I basically was
introduced to the it industry. Cause I never knew what it is, what it is, but I know how to sell.
Kc Chohan 19:12
So you switched from sales of MREs, into sales of it equipment.
Victor Pryshlyak 19:19
It was, it was not equipment. It was it software. Solutions or custom software development. So basically I was
looking for clients. No matter what. Which industry they’re in, but somebody who wants to build the product can be
a startup can be a big enterprise. It can be whoever. So, so basically there was, this company had the R and D and
Ukraine. But I was also covering. Actually it was a global sale. So it was. Had a business development there for.
Israel middle east, UK and the us. So it was actually on a plane.
Kc Chohan 19:53
Got it. Okay. So you used to travel and you’re clocking up a lot of miles by the sounds of it. It’s. Exactly
Victor Pryshlyak 20:01
You took your skill set from one industry. The skillset was
Kc Chohan 20:04
sales specifically on the enterprise level. Let’s call it. And then you just put it into another industry, but you
were still at a really high end price level. Of sales.
Victor Pryshlyak 20:15
It’s. Yeah. It’s a little bit complicated because. If you’re a sales guy. They usually are at my mind, there was
only two types of sales guys, like farmers and hunters. Right? So I’m hunter. I align bringing, I like bringing
new logos. I like bringing new deals, new clients. And usually as soon as I bring a new deal and it’s stable, I
actually pass it to the farmers. Actually, my partners are farmers and in previous companies we had farmers
basically were growing business or. Often they call them account managers.
Kc Chohan 20:45
Victor Pryshlyak 20:45
So I feel that I can do both, but I really like actually meeting new people and actually convincing them. And
actually bringing new business. This is what I, this is where my passion is.
Kc Chohan 20:56
Got it. So. Really great nugget that, so Victor knows exactly what he excels. Mostly he’s good at many different
things, right? And as an entrepreneur, you have to wear multiple hats. But he excels in building new
relationships, nurturing them to the point of clause. And then passing it on to other people so he can continue
doing the thing that he’s amazing at. And he’s then built a team around him with him. That can then nurture that
and continue it on. So you. You always provide a level of service to the client, but y’all accelerate your
skillset, which is finding you hunter. And gathering and then passing it off to the farmers to then. Create that
deeper relationship, an ongoing relationship. You. After your crop cycle after crop cycle.
Victor Pryshlyak 21:44
That’s correct. And honest to speaking, I like hunting more than farming, just because it’s more exciting. There’s
more, it’s more challenging. Like it’s still many people don’t like that because it’s basically, you have a lot of
rejections for objections or people might be offensive. Saying like, you know, what are you. And my phone number.
Why would you bother me? It’s because you are.
I’m not, I mean, I’m using a company in the house and with outbound activities, but it’s more about like setting
up appointments and meeting people. And so often it can be like, The failed appointment because you know, it might
fly to Austin, Texas. As this cost 10 Texas and see that the guy does really need your services because you didn’t
qualify them on the phone. But actually there are like some ups and downs, but. In our business and our industry,
specifically, as soon as you nail a deal, like you could bring a deal. It’s usually like a recurring revenue deal.
Right? So it’s like a, as soon as you build a software engineering team, let’s say a team of 10 engineers. You’re
like heading. You know, half a million dollar team. With annual revenue. So basically farmers just need to make
sure the team keeps working and keeps growing. So it’s not like a short-term sales. Like it’s, it’s like if you
bring something usually stays, right? So I’m a, I’m after actually a new clients, but the existing client base is
growing as well.
Kc Chohan 23:01
Yeah, it was fantastic. So it’s really great from a client retention perspective and it puts the burden on the
operations team because they’ve constantly got to keep expanding with every new client that’s coming in by the
sounds of it.
Victor Pryshlyak 23:14
That’s exactly. That’s exactly right. This is one of the challenges that we had, and I know that. You know, we, we
will want it to discuss challenges and those topics. So basically one of the challenges is what. In our, in our
business. We knew that we had, we know how to sell, right? So basically we’re, we’re selling, we’re bringing new
logos, but then we didn’t have a strong equipment team and HR team and the operations team. We couldn’t handle big
invoices and the finances like. So the cash gaps were an issue. So there are a lot of kind of things that we had
to fix. Like step-by-step. And basically the first thing we had to fix was recruitment. So basically we build like
a super cool recruitment team that actually now can hire 15 to 20, even to 30 engineers every month. Well, now he
actually puts pressure on sales. Now I have to sell more. So as soon as I say.
Kc Chohan 24:00
Capacity on the backend and it’s gone full circle. So let’s break that down because I think it’s really, really
useful. So step one. Was to dial in. The sales team. So what step, what did you do subsets? To really dial in that
sales team to, like you said, qualify clients, go meet people, the life cycle, or kind of the cycle from the first
identify in the client, a potential client to close in a client. That’s going to be a long time. So similar to us,
we’re high ticket items. You don’t sell someone. A million dollar contract in, in a day or a week, it takes longer
to develop that relationship. So can you break down what you guys. Did successfully. That helped increase the
Victor Pryshlyak 24:47
Yeah. So as I said, we knew that sales is our bread and butter, right. So we knew how to sell. Now we have to
understand what are we selling and who do we sell it to? Right. So basically we were trying to utilize the old
connections that we had, but we figured that. The old client base that we had is not ideal. Let. Doesn’t mean this
ideal client is like, you can sell something to them. And, you know, If there’s, you know, there’s noncompete.
That we had with companies. So we couldn’t sell to existing clients. Would. The previous companies, but. Even
through the natural, you can sell something, but then you ask like, whether that’s going to be a good client,
because our model. We are looking for a specific group of clients. We know exactly what kind of people that are
looking for that actually narrows down. The target audience from. Anyone who needs engineers to anyone who knows
what to do with engineers? Because usually I’ll recline is a CTO of a mature. Tech company like a fast-growing
business that knows exactly what they’re looking for. So we basically went out and say like a total we have in the
network. So we try to figure out. Who would be the first clients. And we were lucky to get clients who we lost in
the previous companies who kind of could gain the money on the, on our business. So, this is how we got the first
deal. And so.
Kc Chohan 26:00
Break that down. Kind of simple language. So you created the client, the ideal client avatar of who would be a
good fit. And then you went super specific because you didn’t just keep it. Any CTO based in America, you went
into CTOs with experience that you knew could get success from what you were selling. So it’s getting super,
super. Detailed in the niche of who you’re going for and not takes a population of maybe a hundred million and it
takes it down to one or 2 million. Right. So. You deliberate. Specific message. That’s gonna resonate with that
person. So, yeah. Okay. That makes a lot of sense.
Victor Pryshlyak 26:41
So. So we started with using our own network, like personal Netflix. So we went through the network and I think we
had couple of hundred context and we eventually landed. For two to three contracts, one of them is still working
with us. Our largest client. I was the first client is still the biggest client.
Kc Chohan 26:59
It’s amazing relationship. Yeah. They actually helped us to build business because they pretty much funded. We are
self-funded business now,
Victor Pryshlyak 27:05
but we didn’t raise any capital. And it’s been really hard to work with no salary for almost two years. But
that’s, that’s what the entrepreneur’s doing. That’s a good
Kc Chohan 27:15
point, as well as that. Most people don’t see that side of it. The, see all you got a multi-million dollar
business and you’re doing great. You got all these employees, you got all these clients, but the reality is most
people will invest. Pretty much everything back into the business to how they grow, because this see the future
value of that exploding. Right. And you back yourself to do that. And there’s many ways to do that. Whether it’s
self-funding crowdfunding getting a bank loan or mortgage in the house, We’re not giving financial advice here,
but we’re just showing that that is. Sacrifice that has to be made. For success. It doesn’t just come to everyone
overnight in a way you go. So can you talk to Ryan sacrifices? You’ve made, obviously you’ve traveled. You know,
Victor Pryshlyak 28:01
I was just getting married. Back in 2018, right before I founded my own company. So it’s been really tough for the
first year or two, basically. Live on the, you know, I was doing consulting just to cover my bills. You know, I
was working for the other company. It’s actually competitors to cover my bills.
Kc Chohan 28:19
Because I couldn’t pay my own salary for almost two years and it’s just my me, but it’s actually the entire C
Victor Pryshlyak 28:25
a company, which were at that 0.3 guys. Now it’s four or five even. But basically. We couldn’t pay the bills
because we, we beat. You know, if a client doesn’t pay on time. That means that you have to punish her anyway.
Then you have to find money to pay an engineer. And then this is, you know, we were taking low and some credits
and stuff like that. So he took us. You know, good 18 months to basically. Feel the ground and then start being a
business. Even though you have revenue, you have clients, but the operational costs. Was high. You had to rent the
office, you have to buy equipment. You have to have recruiters HRS. You know, and stuff like that. So basically
it’s been, it’s been a tough. Journey for the first 18 months, but then. Slowly one by one, because we’re a low
margin business. We don’t make huge profits. We’re roughly like 20% margin on top of we’ll be charging our
clients. So that’s that doesn’t that doesn’t leave you a lot of cash in the pocket. And we’d reinvest everything
back to the business because we keep growing really fast. Like if you have a demand, you have to provide the
supply. So, what I can tell you is that, and I, my advice to the entrepreneurs would be whoever starts to business
don’t even count them. Having a good salary for the first year, at least because. If you plan to do it. You know,
you have to either come from a rich family. That somebody is going to fund your business or raise capital if you
are. Self-funded. It’s extremely tough. I’m reading a book called pumpkin plan. I would strongly recommend people
to read that book. It’s about how do you grow the best pumpkin, pumpkin, and New Jersey. That was the guidebook.
And then from. The link to the, to the video below the YouTube so
Kc Chohan 30:01
that people can, that can give that a rate
Victor Pryshlyak 30:03
strongly recommend that one. But, but my experience is that the first two years it was pretty much breakeven. You
know, even though businesses growing, but you don’t have, you. Do you don’t feel as you make money, but eventually
they, and as soon as you get like, through the critical mass you have. Enough clients and enough engineers. And
you have the operational cost covered. Then, then when actually magic starts happening because we keep growing
fast. But now we feel that we make money.
Kc Chohan 30:27
Okay. So let me break that down then some hearing that there’s a couple of things going on here, there’s always a
balance of. Sales versus operations fixed overhead variable overhead. But ultimately what we say is cashflow. What
we’re saying is if you have a 30 day terms with your clients and they’re still default and they go to 45 or 60
days, You’ve still got to pay that money to y’all stuff. Cause you can’t miss payroll, right? That is a huge no-no
for any business owner. And being able to juggle all of these kinds of balls in the air at any given time. It
takes a master class to do that. So you’re right. You’ve got to be. Funded. You’ve got to know what your run rate.
Isn’t, it’s really important to know what your numbers are. And projected numbers and then certainty of those
projected numbers. And it sounds like overkill on numbers, but it really isn’t because you’ve missed payroll. Once
you’ve lost credibility with your entire staff and they will in the back of their minds thing, will, will this
happen again? Do I need to look for another job? Can I rely on this? Because they’ve got to pay rent. They’ve got
families, they’ve got food. Everyone’s got something going on. So if you don’t understand your cashflow, your
budgets, your ball costs, your projections. I’m your client relationships, because if a client says to you, Hey,
this invoice is due, but I’m stuck. I can’t pay it for another 1530 days. That’s a really valuable piece of
information to know, because then you have a little bit of extra time to go find it somewhere else. Whether that’s
credit cards, Bionics friends, family. But if they just don’t pay you. Adult communicate with you. You’re
literally like pulling your hair out, driving yourself crazy. So back to the importance of knowing your numbers,
your projections and your relationships. But also your working capital cycle and what a working capital cycle is,
is from the day you pay out money to the day you received money. What’s the timeframe, what are the different
steps between that Linda stand in those numbers and being really close to them. And the second thing I heard you
say was your low margin, high volume business. And this is even more difficult. What did the opposite? Where high
margin, low value, more boutique style. I think gives it, doesn’t give us that problem because we have enough
padding in there. But if you’re the other way around, which I think most companies are more similar to yours and
they are to ours in terms of. Lower margins, higher volume. You’ve got to know what your critical masala velocity
is. So that one you don’t take on too many clients too soon without having the right infrastructure to service it.
And then the flip side of that is you don’t hire too many people too quickly without the clients to pay for it. So
it’s always a balancing act, whether we’re talking about the numbers, the people, the systems and processes. It’s
a never ending education of life. Right.
Victor Pryshlyak 33:17
Totally. And. And what I can tell you is that the sure. Interpreneur you start wearing multiple hats when you run
the business. And eventually what we started doing this year, we started giving away those hats to different
people. So we do have a professional CFO. Was working for Walgreens. And, you know, we have, we have, you had a
recruitment, so we basically start, try to take the remove responsibilities away from us because that’s the only
way you can scale your business.
Kc Chohan 33:44
Yeah. So that actually is the next step along. You know, we talked about sales team and dialing that in and then
the number of sides being really critical, but delegation is really key. Also a lot of entrepreneurs, the door.
There are the Jack of all traits, but then when the company let’s say it gets past a couple of million dollars,
it’s too big for any one person to then take to five or 10 or 15. So you have to be able to delegate tasks out
efficiently to people. And the way I deal with it is we use EOS. Operating system to help us. But it’s. I just had
to get used to being okay with somebody else, completing the task, maybe 80% of what I could do, but it getting
done versus me having. On a to-do list forever. So that was the shift that I made in my own head. Have you had a
similar experience? So how did it. I work with you bringing in the CFO, the head to recruit in and making sure
that they were the right people feel culture as well.
Victor Pryshlyak 34:45
Yeah, it’s hiring is another big challenge because it’s, you definitely like, for example, every business needs a
CFO, like pretty more, at least a part-time CFO and every. Every business needs like the operations guy or a
sales, like it has to be. You know, someone responsible for that. But how do you hire a person like that or, or
what would be the skills for those, that person?
Kc Chohan 35:08
A company like mine, that together, CFO, because we scale with you from part-time and then get you a full-time
Victor Pryshlyak 35:15
There you go. And that’s actually a very good solution. If we knew that company like yours existed back in 2019,
we could have been in a better place. We could only hire a CFO six months ago, which is a professional CEO. Oh,
because we know exactly what this person used to do. Because we are there thinking about partial exit in 20, 25
and we are getting ready for it. Right. So it has to have, you know, right. Numbers. It has to have the right
structure. And portfolio of the clients, geography of a client’s. Revenue streams from. There’s a lot of things
that there are a lot of indicators that. Company has to look at. But. Was it easy to give away the tasks? To be
It was super easy to give it to the CFO because that was the person that we were looking for the most. It was hard
to give it, to recruit how to recruitment first, because we actually did for good fun, manually. And it was very
hard to give it away. Because we had to micromanage the guy until he proved that he doesn’t need to be mad
Kc Chohan 36:10
talk about that then, because you’ve had two different experiences with very high level people in the company.
What was so different about hiring a CFO versus. Maybe having systems and processes in place, a clear job
description of what the actual deliverables were, and he knew how to do that. Versus the hair. Char sounds more
people, more touchy feely than maybe absolute black and white.
Victor Pryshlyak 36:37
It was more about.
So. If we were like, We were really unsuccessful in and finance, right? So we always had delays and clients paying
an invoice, which is a simple thing. You just have to have your own methodology, but as nano us, has the
background and finance. You know, we are having background in account management and sales. You know, we can, we
can, we can send an invoice, we can follow up on the invoice, but create the process, which is, you know, Smooth.
It was not that easy. So as soon as the professional CFO joined the company, It was an instant collect. Like he
proved his competence, like. And 30 days. And since then, You know, we didn’t have any concerns, like all of the
clients, even the best clients that we thought that they are bad. They’re not that bad because of the CFO
basically thinks that. So we do have a very good experience and I think it was a great. Choice that we made.
Speaking on the record. Salva and he
Kc Chohan 37:35
solved the problem very quickly, that that helped build confidence from the ownership team.
Victor Pryshlyak 37:42
Absolutely. So not only we started feeling comfortable, our clients are appealing much more comfortable because
they knew that we have we ourselves. You know, funded business and they knew that we are struggling if they’re not
paying on time, but sometimes they just forget about that. Right. So the dam is not a priority. So you have. Just
to have this
Kc Chohan 37:58
process right. To make sure that they’re going to get a call if they’re late on a payment,
Victor Pryshlyak 38:02
but. But, you know, better than me, that the CFO is just not the person who sends an invoice and collects that
right. It’s more about the projection. He gives us an advice. Like what kind of client do you really want to have,
like look at this client. Like it definitely not bad client. For a good client. Did you take a look at. That’s a
good point. Let me break that down for people because a lot of people might be getting
Kc Chohan 38:21
confused about what a CFO does want to control that does and what a bookkeeper does. So we’ll just take a quick
second and explain the differences. So bookkeeper’s going to be more transactional. They’re going to enter the
invoices. They’re going to reconcile bank statements and ultimately make sure QuickBooks, a lot of the software
that you’re using is tie enough to your bank statements. And everything’s entered in the system. So think of it as
kind of like a financial admin person. The next level above that is a control a level, and that person is going to
take that information, look at it and kind of give you some strategy or kind of some guidance on what is good, bad
and indifferent. The controller then. The next level above, that would be a more strategic person, which is a CFO.
And the CFO will look more at budgets, forecasts and strategy level things and say, yes, we can make this
investment. No, we can’t. This is what I’ll have cash flows. Like this is what I would run. Right. It’s like, and
then really the finance quad the back of the show because they’re pulling the strings and saying, Yes, we can make
this decision. We’ve got enough space. We’ve got enough buffer. And that then collaborates with the owners of the
company to see where your comfort level is. Some people have a month to month comfort level. Some people have a
year of excess cashflow side there, so that’s different within all companies, but just to break down the three
sections of finances, bookkeeping, transactional controllers, kind of a hybrid of making sure that the
transactions are entered correctly. And that you can make some basic decisions with and that the bills are getting
paid and the day-to-day is operating. And then the high level is the CFO. When the strategy really comes in and it
takes that team to the next level, that’s kind of. The three different roles that you’d need.
Victor Pryshlyak 40:13
Yeah, and it depends on the size of the business, like the role of the CTO, Mike Perry. But I believe that any
business that. I used to grow fast. They definitely need to CFO because CEO or sales person or operations person,
they might get excited about this thing, right? Like if you’re a tech company and your. Run by a software
engineer. Now I get excited about the technology, not about the costs and the money in the bank and stuff like
that. So I think that the role of the CFO is crucial for businesses like ours. Not only like hours, but in any
business that needs to be used to grow and needs to grow fast.
Kc Chohan 40:47
Yeah, no, totally agree. And, you know,
Back in the days there wasn’t such thing as fractional, CFOs or structured. CMOs or CTOs, but there is now. You
can hire really good talent at a fraction of the price. Rather than. A couple hundred thousand dollars for a good
CFO, any C-suite person. And it’s not really achievable for a lot of startups to do that. Like you said, you’ve
got to grow into it. And one of the good things, or one of the things I’d recommend is to have a clear, defined
scope of work of what are the actionable items that you need solving, and then figuring out whether that’s five
hours a month. One hour a week. Like how much time is it roughly going to take to do that task? And then you can
go find the guy. I’ll go let you need to fill that slot. But if you don’t have an idea in your head of. How long
this task is going to take. And the, how critical is it? Is this a nice to have, or is it an essential thing that
you need right now? And Ryan can all that and having kind of everything documented and in order, then you’re going
to really struggle to find the right people because you might bring in a rockstar. But if you don’t enable them
and guide them into, Hey, this is what we need to do for a second. And third, you’re not going to get the most out
of them. And it’s just going to lead to a bad relationship. Just to
Victor Pryshlyak 42:08
finish this part for the CFO. I think that basically a good CFO, even a part-time CEO. You CFO, he’s going to pay
back. Real quick, like. But he’s going to pay for himself within a few months. Like if you, if he knows. PPE is
good. Right? So your investments should be backing your bank real quick. Just based on certain tweaks and
projections. Or relationships with banks and stuff like that. So that actually pays off real quick.
Kc Chohan 42:34
Really quick. Yeah, I agree with that. So then let’s talk a little bit about the other side on the recruiting and
HR side. What was so difficult about that? And why did not go as smoothly as you would have wanted? Well,
Victor Pryshlyak 42:46
we are in the recruitment business. Like we all remain, I mean, our growth of the company. Solid. The pants are
two things like sales and recruitment. So if sales bring new open positions, Then recruitment has to deliver that.
We need to fill those up. When you are no-name company, and this is one of the biggest challenges is that you
don’t have a breath. Nobody really wants to work for you because you know, you cannot provide a confidence. And
you really cannot because you’re not even able to pay yourself a salary so you can not hire the best recruiter on
the market and pay them more than the others. And that was the biggest challenge that we had. So we had to use
recruitment agencies. We had to use some sort of partners, some blended bonus systems just to get the result that.
Speaking of hiring. So we actually hired a. You know, the person from the larger company, one of the largest cell
sourcing companies, we know. That actually was running their head of recruitment. So w you know, This guy has a,
you know, equity in the company. And that was something that actually convinced him to join us, even though. He
was not, you know, extremely well-paid, but he was getting like a market salary and equity. This is the reason
they actually get. I could get somebody who actually gather a team around him. And then basically this team
started delivering results. So he took us.
It took us a year and a half basically to get. To where we want it to be in terms of recruitment, but it was a big
struggle and we all need. Only last year, actually. Over the last 12 months to actually, whereas we’re very
confident in the recruitment team, whatever we throw their way, it gets close right away.
Kc Chohan 44:20
Perfect. So that’s a really good point. I think, you know, we talked about it earlier, but. It’s really important,
the way that you differentiated yourself from others for one, but then also internally, it allowed you to find.
Someone that you were priced out of have buy in really right. You would not able to bring in a normal PA. Like
this, let’s call it a C level HR executive, if you would just go in dollar for dollar with the next company,
because they had a better reputation being around longer, the confidence is there. Books. Sweetening the pot with
something else like equity. It aligns them with the company is so many different levels because now they succeed
more. When the company succeeds more and they can then transmit that into future employees. Cause they’re like,
well, I took this, I did this, I bought into this so they can speak firsthand to that. And then transmit that into
a team and build that team out. Because that part of it, right? They’re all part of something bigger than
Victor Pryshlyak 45:23
that’s how our philosophy is. So we don’t think that. This company can solely go with only one or two co-founders.
Right. So basically we want anyone and C level to have the equity of a company because we want every stream or
every branch and that. Every C level actually is actually a part of the critical infrastructure. So it’s, it’s an
extremely company will not be able to live without a sales person war. Or equipment person like the head of
recruitment. So we need champions and all of those level. Levels. So that’s basically what I have to say is that.
We want to share equity of our company with people who are making an impact. And the other point is actually.
I just recently finished reading a book called no rules rules for buying it from Netflix. It’s about the way they
attract people. They could not compete with Google and Amazon for talent. But what they did, they actually, they
were able to hire only one and pay them more than market, only for one person in the entire team. But this person
was giving so much impact to the other team members that actually they had a feeling that this entire team has a
champion team. So I think it’s actually a very good method. If you’re not willing to give away equity, you have to
find at least one champion in one department and pay them more than, than the others would do. And this is how you
kind of retain talent and actually affect the others.
Kc Chohan 46:43
See, that’s another great chunk of information. It’s not, it doesn’t always have to be one thing to sweeten the
pot, whether that’s equity, bonuses or structure, it could be one rockstar. And what I found to piggyback off that
is I brought a rockstar in from a company. And then they’re then already know that next three highest because
they’ll follow that person. So you instantly get a silo of. Like you said the champion team, just from hiring that
one really good person.
Victor Pryshlyak 47:15
We had experienced like that. And I think it was a very good investment. So we, we have invested in one recruiter
that is. You know, well, You know, well-paid and, and, and, but she was like a celebrity and the recruitment. So
everybody knew that like, well, if she is there, that means this company is doing something good. It
Kc Chohan 47:32
gives you more validation in the market, right?
Victor Pryshlyak 47:35
Kc Chohan 47:36
So Victor, as we wrap up. Thank you so much for your time. Can you give us, if somebody wants to reach out to you
or find a company what’s the best way for them to do that?
Victor Pryshlyak 47:46
It ideally. When apply me on LinkedIn, that’s the best way to communicate with me. So I’m Victor V I K T O R.
Let’s try to be careful. Here is P. Y S H L Y a K. Just find me on LinkedIn or you can always email me. It’s very
simple. It’s Victor B. V I C T O R. <unk> as my ladders.
Kc Chohan 48:08
And we’ll make that very easy for people. We’ll put the links right down below the.
Victor Pryshlyak 48:12
Kc Chohan 48:12
a button and they don’t have to worry about. Messing up your last name, like I, they, so thank you so much for
your time, Victor.
Victor Pryshlyak 48:18
Likewise. Casey was good talking to you.