Vuhar Hodzhaiev, 33 years

My name is Vuhar Hozhayev, and today I am an entrepreneur in the lending business (Credytis) in Poland. My work pace is quite intense: sometimes my workday lasts up to 14 hours. The phone and consultations hardly ever stop—neither on weekends nor while traveling. I find it difficult to delegate processes, so I often feel under constant pressure: the workload regularly exceeds the number of people on the team. This is one of the realities of the service business I work in. I reached this stage after trying my hand in a number of different niches.

My first entrepreneurial venture was a construction company. I developed it for about two years, but ultimately the project ended in financial losses. After that, I moved into car rentals and sales. These businesses developed quite successfully, but over time I decided to leave them and look for a more systematic and scalable business.

Eventually, I focused on one area—lending. Focusing on the business and choosing a niche became a turning point. When I stopped spreading myself across different areas and concentrated on one, the business began to gain momentum, became more visible in the market, and started growing steadily.

How did you come up with the business idea?

The idea for my current business came from a very simple everyday need. I launched a business line for my wife so she would have something interesting to do during her maternity leave. At first, we worked in insurance. Over time, however, I realized I couldn’t effectively run two business lines at once, so I had to make a choice.

We decided to focus on lending. What began as a small way to support my wife gradually turned into a full-fledged business. For the first two years, there were virtually no noticeable results. But then steady growth began, and I consciously made this area the main focus of my work and business development.

What key skills helped you launch your business?

My greatest strengths are persistence and the ability to learn quickly. I’m the kind of person who doesn’t give up after the first difficulties. In any new field, I can get to grips with the basics in one or two months, and after about three months I can confidently talk with specialists as an equal. This skill is especially important in lending. Banks’ terms are constantly changing, there is a huge amount of information, and every financial institution has its own rules. That’s why the ability to learn quickly and keep my knowledge up to date is critical to managing the business effectively.

What were the 3 most difficult challenges you overcame in the early years?

At the start of the business, the three most difficult things were as follows. The first challenge was finding our first clients. Without a reputation or referrals, this is always the hardest stage in developing a business.

The second was getting our processes in order. At first, I tried to keep all the information in my head. But the market is complex: we work with about fifteen banks, each with its own terms, and changes happen almost every week. Without putting the business in order, things quickly turn into chaos.

The third challenge was people. We had to find employees and learn how to organize the team’s work properly. Another reality of this business is that knowledge must be constantly updated. If someone has never worked in banking, the sheer number of details can overwhelm them on the very first day. It’s an ongoing way of working that requires flexibility and operational management of the business.

What crises has your business faced, and how did you overcome them?

I can’t point to any classic business crises. The closest thing is periods when the workload exceeds the team’s capacity. In those situations, we simply work harder and handle the workload by picking up the pace. The second ongoing challenge is delegation. In my service model, it’s very difficult to fully let go of some processes. This affects work-life balance and is part of business growth and the transition to systematic management.

What decisions proved most effective in growing the company?

Two decisions had the greatest impact. The first was moving from chaos to a system. I implemented a CRM system, and this became one of the key steps in organizing the business. With a complex product, it’s impossible to work effectively without one. The second was changing our approach to hiring. I realized that sometimes it’s cheaper to pay more for experience than to spend a long time training someone from scratch. So I started bringing in specialists from banks. About 70 % of clients come through referrals. This is the foundation for scaling the business without relying on advertising. By the way, I only started using advertising three months ago. Before that, the business operated exclusively through referrals for four years.

Which of your mistakes do you now consider your most valuable lesson?

My most valuable mistake was trusting people without documenting our agreements. Today, I make sure to put all agreements in writing. This is part of a systematic approach to business that helps avoid conflicts and maintain stability.