Cum sa castigi banul folosind cea mai pretioasa resursa: TIMPUL!

Cum sa castigi banul folosind cea mai pretioasa resursa: TIMPUL!

Welcome, dear friends! I am Sorin Manea and I present the BAN. We are starting a long journey, I hope, in the world of business, in the Romanian entrepreneurial spirit, and let’s start from the wild 90s. Together with Octavian Bădescu. Hello, Octavian! Hi, thanks for the invite. Welcome!

Let’s see, we will talk extensively about your entry into business, about business. In the 90s I was still young. You were still small, but in the 2000s you already started to grow. I followed others in the 90s.

Let’s see, how did you get in like that, there is a lot of talk about those years in the 90s, how some people came with money. In the 90s they had millions of dollars, we don’t know where they came from during communism, but some had money.

How did you enter this business area and how did you start your ascent, so to speak? I have not always been an entrepreneur, I started as an employee. I graduated from ASE, then I did SNSPA, you have academic, post-university studies

In communication and public relations and in the meantime I also taught at a post-secondary school with an economic profile. Finances, marketing, management, organization, that at ASE we also did that teacher training module, as it was, so that you could teach.

Later, after 99, 98, 99, I no longer wanted to work as a teacher. Wasn’t the job lucrative or what was going on? Now I like to share, but then I didn’t see it as a career, I mean I saw it as limited, I wanted a career in business.

I also studied accounting at that post-secondary school, because accounting is actually my specialty, at ASE I studied accounting and management informatics. I didn’t even want to be an accountant. And then I made a decision, I completely changed the field. I hired myself as a sales agent with a fixed salary of 50 dollars

At a courier company. I liked the ad, multinational company that’s what it was called then, but it wasn’t. It turned out to be a Turkish company, but this was… It sounded good. Sounds good, yes. They are building their sales force and I liked the idea of ​​a sales force.

I liked the idea that it was being created, so it was in the beginning. And I said ok, I can start from here a career at first in sales because I didn’t want to stay in one place, in a fixed space. Let’s explain to the younger ones what $50 was in

This day and age, because I know it was a very big fluctuation. The minimum wage at that time was 100, when I got hired. So I went for 50 dollars, the fixed salary was low and at that time, only

Because I was counting on the fact that I wouldn’t even have a problem, I said I want to learn, first of all, that I was at the beginning , and two, I wanted to earn from commissions, because for each new contract brought, we earn 25 dollars.

So a good agent, and I was quickly a good agent, could do about 4 contracts a month, one contract a week, so we reach 150 dollars, which was above that average, but the base was 50 dollars, 50 of dollars fixed salary.

And for sure it was the beginning of the courier service in Romania, I had two missions, one I had to explain to people, what is the difference between my company, RomExpress Courier was called, it wasn’t mine, but the company I worked for and the post office.

That people didn’t know the difference between courier and post and the second question, why the company I worked for was better than others. So it was a tough mission, now when you go to sell by courier, the public is educated. Then… And what did you do as a courier at that time?

Was this courier local? I was doing courier… It was national, mainly national, with cars, with vans, they went… So the cars would pick up an envelope, there were many envelopes then, and parcels but also envelopes, it goes through six hands from the sender to the recipient.

So first it’s the courier who picks it up, brings it to the hub, goes through a 2-3 hand sorting process. After that they enter a line, it is called a line-hall, that is, they load into cars that leave for their destinations, or they go to the station and go to the train driver.

But do you remember the first contract? The line-hall was done mechanically. Yes Yes Yes. Like curiosity, right? Yes, I remember. Who was the first contract? Now, at the moment, I can’t remember the name of the company. It was an entrepreneurial company.

But I quickly made a contract with ING, I made a contract with Unicredit. I very quickly got to deal with the big clients, the key account, it was called. So from the sales agent I became a kind of key account.

I was talking to the big clients, because I had this experience that came , somewhat, from a political training experience beforehand. I was involved in PNȚCD, I participated in preparation trainings for electoral campaigns. I was in America for the primary elections. Finally…

So, at 26-27 years old, I already had a way of dialoguing with people that was superior to those of my age. And that helped me to talk to the administrative directors of big companies. So I passed and ended up in this area of ​​Key Account, after which I left as

Sales director, to make a sales team, at another courier company. Alo Courier was called. And we developed a sales force. That being a step forward. A step forward. Was this company better capitalized than the Turkish one? Or it was still at the beginning and still a poverty with three vans and…

It was even smaller. She was smaller. It’s just that the former director of Romexpress Courier made his company Alo Courier. And he offered me to become a sales manager there and make a sales team myself. And I did that and very quickly, in a few months, I became the

General manager, because we were selling, we were bringing in customers, but operationally things were not going very well. That is, to delay parcels for various reasons. When I was in charge of sales, customers were coming to me. Why is my envelope not enough? Why hasn’t my package arrived?

Do you know how it happens? You can have a good delivery rate. The customer asks where my envelope is. It doesn’t matter that you deliver very well 99.99%. And what were you saying to them like that with a wide open smile?

And then I didn’t like this defensiveness you were getting into and I tried to understand why things weren’t working operationally. I started and learned operationally, i.e. what is the route, what happens to the couriers locally, their performance, then nationally , relations with suppliers. We were sending international, we had a subcontractor on international.

Learning operationally, but in parallel, selling very well, I ended up earning very well, but, operationally not working, the company’s profit was not. And the owner of the company, let’s call him that, the entrepreneur who had, said , brother, what do we do, either we close the company, or you become general manager.

There was a discussion with a friend of mine, that’s what I heard in the stories, with another employee there, who is another reliable person, about what we are doing with the company, that it’s going well, Octavian ends up winning, try harder, but where do we give them? We have no commissions, about?

Yes, we have no profit. And then I simply became the general manager, he removed the operational manager, he parted with the company. Did they give you a fixed salary without commissions? It changed, yes, so I had 500 dollars, the first general manager’s salary.

So this whole matter, from the time I entered the courier service as a sales agent until I became the general manager, did not last more than two years, very quickly, at 27 I was already the general manager, with responsibility.

And the first decision was to lower my salary, because I had just taken over the position and a problem in the past caused the loss of a large client. And then I had to make a hard decision, to let go of two

People, from the company, and to reduce myself, to give an example, I reduced my salary, so I reached 400 dollars. You have penalized yourself. I have, yes, I had to in a way, if I asked for sacrifices from the company, in a way, which company

Was not big at the time, so we were talking about five bicycles and a dacia slipper, which dacia slipper, was my car in the evening, I used to go home with it, a company car, and parcels were delivered with it during the day. So that was Alo Courier in the beginning.

The business figure was $50,000 a year. And in four years, gradually, we reached 800,000 euros, this time, because in the meantime it had also changed to euros, 800,000 euros per year, in 2006, at the end of 2006. And we also had 25%, so we have systems of bonus.

Depending on the performances and the performance was the profitability in the first place and certainly and the increase of the turnover. But we grew the company with the team that we actually built from $50,000 to $800,000 in four years.

And here your light bulb got caught and pinged, well, but don’t I pretend I have a lot of money for these guys? No no. Or what was the click? Declick in the first place, because no, I didn’t have it. Because this will help a lot of young people, Octavian, to understand to

Trust them more, to understand what the declick is, the moment from which you have to leave the company in which you are good and you can you take it on your own. Some dream, I mean of course everyone dreams of being their own boss, right?

Yes, now what happens as a phenomenon, indeed, sometimes there can be a gap between the development of the company and the development of the employee. That is, either the company develops faster and the employee does not keep up with the development

Of the company and then he becomes not very suitable for the company, or, on the contrary , the employee progresses a lot. The company does not keep up with the development of that employee and then the employee will leave. In my case, things didn’t work out that way.

First of all, that I have loyalty as a value, so to speak, that is, I don’t put pressure on people and I don’t seek to harm people who have done me good. And my professional development was also due to other people, namely the one who promoted me. They have invested trust in you.

Exact. So I didn’t have such a problem. The problem lies in the difference of visions, however. The majority shareholder, who was a Turkish citizen but was not involved in the management of the company, I was running it, found it a slower evolution.

And in order to accelerate this slow evolution, he very much wanted the development of a national, national courier. The company had reached number 3 in Bucharest, they were at that time in Bucharest, I don’t know if you remember, Pegasus and Concord Courier

, these companies no longer exist, but Pegasus was number 1, Concord Courier number 2 Alo Courier was number 3 in Bucharest. Eh, so to be able to really grow major, you had to develop substantially on the national level, but, comma, to develop substantially on the national level,

You must have resources because it means organizing some line haul routes which means fixed costs it didn’t work like that anymore, you had to have agents all over the country, you had to make them loyal, secure them, that means with

Fixed salaries, and at the beginning you didn’t have the volume to cover their time, you didn’t have the volume to fill the line car haul, i.e. the roads between cities, therefore you must have some financial reserves. Or the company didn’t have these financial reserves and the shareholder

Didn’t have the availability to allocate them like that, he just wanted us to make this strategic move. Which I didn’t agree with, I know. Basically everything fell behind you as a manager, meaning to do something. No, no, no, because it was about taking on fixed costs that

Were going against the company and the company was going to go bankrupt. And then I asked myself the problem, brother, my strategy is not that, we have to continue the development in Bucharest, because here we have the resources

To reach number 1 in Bucharest, and you can see that we are also doing the national gradually, not in this form, first with subcontractors, in a more prudent manner. He wanted accelerated development, and then I anticipated that this company would be on the fence.

The problem was that he would be on the fence with me, the general manager, which would have damaged my image of managerial ability. The whole market knew me and that’s when we parted ways. I chose to leave and gave up the management of the company and the 25% of the shares.

Okay, but how was it? Amicably or was it pretty brutal? No parting is… I understand, but there are also people who trade. He wasn’t terribly happy with that decision, but he tried really hard to get me to stay, I just didn’t have… He wanted us to go left, I wanted to go right.

And then the company was more his than mine, that he had 75% and he had founded the company. And you have to respect that opinion, the company was his, so it had to be done as he wanted in the end, but not with me on the buttons.

And then I left, I had offers from other courier companies, I was 30 years old at that time, I could advance in my career so to speak, but I asked myself the problem, sir ok, I am at this crossroads of roads, if

Now, anyway I knew the job very well, I already had 5 years of courier experience , if I don’t take the step now to continue my entrepreneurship by making my own company where I have myself, I also had 25% from the other, but the company it wasn’t mine and I hadn’t made it.

If I don’t do it now… I thought I’d never do it again, that it was a window of opportunity, basically. If I went and got hired, I didn’t make the decision to leave, I went to another project.

And that’s when I made the decision to build another company so I wouldn’t regret it later. I was also a consultant for six months. What options did you have at the time? There was another courier company, I don’t know if you remember. It was quite a large company.

I could become a director in Bucharest at this company, which was anyway 10 times bigger than Alo Curier. But you know it’s customary by contract, when you work at such a company, it forbids you to open your own business, to hire people, things like that. Well yes, I didn’t …, I was already.

Yes, but I didn’t want to take people. I was there for six months, so I started working on this project. I invented a service in Alo Courier that was delivered within an hour. And, of course, I’ve been to courier, transport fairs, so we know

The international market, I liked some models and I said let’s make a courier company with same day delivery, become very fast. And that’s how I got the idea, we had a Sameday service. And so the idea of ​​the company came. Why Sameday? Because there are two types of courier.

The courier is divided into segments depending on the destination. And you have domestic courier and international courier, and for domestic you have local and national. So that’s depending on the destination and depending on the delivery time you have overnight courier, as they say, that is, with delivery tomorrow or

The day after tomorrow, overnight and Sameday courier, with delivery on the same day. So there is a segment, same-day delivery, and I wanted to occupy this segment including the name, and then I made Sameday courier. How did you start your journey as a consultant? I met the people from Geopost.

I had various press appearances related to the courier market. I was quick to answer journalists, so they were asking me. And, little by little, I got to talking about couriers in general. I also founded the association of courier operators in Romania. Therefore, I was a dialogue partner.

In the media area, that’s how it would have been noticed. I don’t remember the exact circumstances, but I think they were. And I did this consulting project for six months of market research, Romania and Bulgaria, they want to enter, they didn’t know whether to enter Greenfield or through

Acquisition, very likely that if they had decided to enter Greenfield, I would have continued the evolution with them, I would have been general manager in Romania, at least. Now they decided to buy Pegasus, which today is the DPD company, and they kept the management there and therefore I continued the Sameday

Courier project that I had started working on. I had created a website, right? Eh, Sameday Courier grew slowly at first. What did you start with, basically? A secretary, two scooters, and a Dacia a Logan Van, as we are already talking about 2007. A Logan Van, two couriers. That was the beginning.

Plus a network of agents in the country with which we collaborate. I didn’t take people from Sameday. In the first moment, what you don’t like, doesn’t matter to someone else. So it would have been neither efficient nor moral to go and take the employees from Sameday.

And it would have been even more expensive, between us, because it would have meant me making a higher offer. Either I didn’t have financial resources and we didn’t raise the issue. I knew that, unfortunately, that direction to the left would lead to the fence. Simply, I started, I started Sameday.

And the moment the others in the company, my former colleagues, also noticed that I was reaching the fence, they looked for me. And then I asked the question, guys, what do we do? That’s right, you were right. And I said, what do I do? Will they spread to other courier companies?

Or, I assume and take 4, 5, 6 at once, I assume the fixed costs and we have the possibility to accelerate. Because a team was already being created that were my former colleagues. And then they left there, I didn’t offer them more than

They had at Alo Curier, so I didn’t take any people, they left. And I started with my former collaborators from alo, I requested an acceleration of the company. This happened about half a year after we started the project.

And for sure with this new breath, with the related costs, in order to suddenly take high fixed costs, it was not. I did the math, I had enough money to live for 6 months. So if we don’t reach break-even, as they say, in 6 months, I should have closed and gone to work.

If you had another chance, what would you do differently in this split from alo courier to Sameday? What would you do differently if you had today’s mind, let’s say? You should know that I tried to convince my partner not to take it to the left and to take it to the right.

I did not succeed. I didn’t want to leave alo courier. Simple, the situation determined me to take this decision. And he didn’t want me to leave either. Because he kept insisting to. It’s just that we were probably at different times in life. He was 11 years older than me.

Come to think of it, he was 7 years younger than I am now. But I saw him as much more mature and he was in a hurry. I was in my 30s, I had time to wait, and I wanted to have the style of building, building, consolidating, with caution.

We had no money to invest, I knew, and I didn’t want to fail. And if we went well up to a certain point, why not go gradually? He wanted to, he looked left, right, he saw that other courier companies had appeared that focused on the national, they had grown.

But they had other financial resources. At that moment. And then they were able to take on those fixed costs that didn’t put them on the fence. We didn’t have that possibility and my former associate thought it was possible. And it didn’t happen. I mean I’m sorry. But that was the situation.

I don’t really see what I could have done differently, because his call was to accelerate. If he hadn’t sped up and I had convinced him, maybe he would have been left with regrets. So sometimes things happen in life as they have to happen, as God’s will, as they say.

How did you end the six months you set for yourself? We reached break-even and after a year we reached the first year, I think we exceeded 100 thousand euros, turnover. I didn’t lose money. And from there, basically from mid-2007, we continued an accelerated development that continued year after year, sure, gradually.

It’s a lot to say accelerated, because we didn’t have exponential growth. The style is build, build, build, build and always focus on profitability. Of course, one more thing must be mentioned, when I took the former team, the people, key people, when the people from Alo Curier came, one of them, who had been

A sales agent and who seemed to me a very promising guy, he- we co-interested and offered him 30% of the companies. No money. And this colleague was also decisive in the further development of Sameday Courier. He still runs the Sameday Courier. It’s Lucian Baltaru. He’s the CEO of Sameday.

But then he was 19-20 years old. No, 20-21. I knew him from Alo Curier because I had worked together with him. I gave him 30% of the shares. So that he comes with me and doesn’t make another courier company go crazy in the tram, let’s unite and do a joint project.

We set the parameters from the beginning. We basically shared the management budget, if I remember correctly, the management budget was 1,500 euros and I took 750, he took 750. About how much was the market share in 2007, just to have an idea, what was the market share from the courier market you cover?

Well, what should we cover it, because at 100,000 euros, I think that at that time the market was somewhere around 10 million. The market was already fan-courier, I think it had 18-20 million euros, which was number 1 in the market. DPD made about 4 million euros, Cargus 15-20, so probably

Up to 100 million euros. At the moment it is over a billion. We’ll also talk about that and what the pandemic has meant for couriers later. So that’s how Sameday started and I’m sure that with these fixed costs I put a lot into sales.

And he and I were selling well, the operational part gradually, so we were sharing somehow, he was at the beginning, if I’m not mistaken, so I was general manager and he was sales manager, but after that there was also the gradual thought to

Take over from more and more attributions, because I saw myself more as an entrepreneur, as a shareholder, I wanted to separate, we wanted to build a company that we could sell, at some point, to a bigger player, so we established from start what are the objectives.

That how we divide our duties, how the profits will be divided, that is, the fact that we will divide 50% in dividends and 50% of the profits we will leave in the company, here we set the rules very clearly from the beginning, speaking of your question, how it should be done.

You basically had a programmed exit, you knew exactly until you grow up. No, we knew that this is what we wanted, scheduled is a lot to say, it happened after 10 years, but this objective was to grow the company, to be profitable, to live

From it and at some point, when we can no longer carry it or when it comes someone else bigger, let’s give it to someone who will continue development, because the dream was to become the largest company in South-Eastern Europe, which it will become. That I’m not in it anymore, that’s normal.

I had no way of making it the largest company in South-Eastern Europe, it is already number 1, number 2 in Romania. But what were the most painful moments for you as the owner of this business, SameDay, what were they in your opinion?

Does every person who has a business have a profit at some point? I guess. The turning point was at a certain point, when in the meantime, after about four years, I got involved in a business, Retail Plus Eastern Europe they were called, I created

A market research company together with some partners from Israel . My associate Lucian was already more and more involved in the management part, he had already gained the necessary maturity, so the company was going, I was able to focus on management in the other company and I’m sure that at some

Point profit problems arise for various reasons , on profitability. Costs increase more, faster than revenues, these are problems that can arise in a company and then you have to make some decisions and decisions are more difficult to make by those who are involved in the company day by day.

And here I am referring to him because he carried the burden. And then I had to help the process a little bit and it wasn’t super comfortable, but it turned out really well. This was a time to buy because the company was working. They reach a turnover of one million euros.

We have taken cost-cutting measures. We had to take some cost-cutting measures. The company was no longer profitable, so basically we have the company and the risks, but no money. That is, we earned less than the couriers. We had to accelerate on the sales side and reduce costs at the same time.

So both components. And with cost reductions we had to enter the area of ​​salary costs. And then we had a discussion with the people in the company and asked them what we do, do we release a few people or reduce all our incomes, our salaries by 25%

For a maximum of one year but if it is possible it will be only 6 months for that we believe that we will obtain certain contracts that will rebalance us financially, what do you want us to do, do you want us to fire some people or reduce all our salaries by

25%, I think I don’t know anymore and me and Lucian, maybe we have already reduced ourselves no I still remember at that time but people preferred to reduce their incomes, no one left, they reduced their incomes by 25% and, in parallel, through the efforts of

Lucian and his colleagues, Dan Agație and others who were in the company, and mine, perhaps, I don’t remember anymore, but gradually we managed to bring the necessary income into the company, and this reduction was only for six months, as a period. What year did this happen?

Is it related to the economic crisis of 2009? No, yes, the crisis period extended, a longer period, we are talking about the years 2010-2011-2013, around there, which is the final part of the crisis. So, 2011-2012 was not comfortable either, it was a difficult period. So, somewhere around that area.

After that, but we practically rebuilt the budget on a healthy structure and when the business with income was rebalanced with everything, then we practically restarted the growth, which continued, accelerated, later we listed the company on the stock exchange, we were the first company from Romania, the first Romanian company

Listed on the aero market of the stock exchange, which is the secondary market of the stock exchange. And the first courier company listed on the stock exchange in Romania and then it was actually the first exit, we sold 10% of the free float company and listed ourselves

On the stock exchange, why did we do this? To get a value of the company, we didn’t want to sell. Undeclared individuals or legal entities in the market that had contracts with you? I think individuals. But the objective of the listing, which was actually a sale, we sold 10%,

Not a capital increase, we didn’t need money, we grew permanently from our own profit, permanently. On the half system we take our dividends, half stays in the company. So we listed to get a market value of the company, because we thought we were going to sell at some point.

Look, a good rule of thumb for young investors, for young entrepreneurs. Half of the dividends you leave in the company, half you can put in your pocket. And these matters must be established from the beginning with partners, because it is a job in itself, managing the partnership is not simple.

If you don’t set the principles from the beginning, you end up arguing. The most important relationship in a company is the relationship between partners, just like in a family. If the relationship between associates does not work, it will translate downward and the company will fail. So, and for this relationship to work,

The principles must be established from the beginning. And I will give you another secret of relations between associates and between partners, even in the family. Everyone must feel that they are giving more than they should. Because the preopinent will not have this feeling.

If you say, I only have to go this far, the preopinent thinks that you only went this far. Do you understand? So, everyone must give more than he considers optimal to give, from him, to yield. Because in this way he finds this common ground, the common ground,

It will seem to the other person that it is right. So if you feel like you’re giving more, you’re on the right track. You talked about the family, and look, this aspect is also interesting. What did your wife consider in the decisions you made? Did he think you were doing well?

Did you consult? It helped on two counts. He’s a lawyer. So once it was legal support in all my entrepreneurial and managerial actions. So it was next, both in Sameday Courier and in Retail Plus Eastern Europe and it is still there. Now she’s the Chief Legal Officer, she’s a corporatist, Chief

Legal Officer at Sameday. So she remained involved in Sameday. So you had an agreement in the family too? We had an agreement, but it had a supporting role in the first phase, because in the first phase of the launch of the company I practically carried the savings.

They weren’t hers, they were somehow from my area, but I took them to and then she claimed for a few months… So you took money from home, let’s rephrase. You took the money from home, from the family money, so that you could support the company’s activity.

It wasn’t the family’s money, but I didn’t have any more income. For 6 months I didn’t have an intake and then it’s normal that he supported this issue. It was a decision made by consensus that we consulted. So what do I do? Do I go and get hired or start the company?

So she supported this entrepreneurial idea, because she is also an entrepreneur on a smaller level. That is, he had a law firm, not a company with many. That’s another field, of course, but she wasn’t employed anywhere else either, so she’s an entrepreneur.

But how did you get to that point or how did you and your partner get to that point where you said, hey, now I think we should break up with Sameday and put it in better hands or what was it? A proposal was made, was it known in the market?

That was the goal from the beginning and then the stock market listing was an intermediate step from that point of view, we wanted to have a company value. Because I thought, ok, we’re going to sell the company at some point, what do we do? It’s a company, the service sector has no assets.

When it comes to selling a building, it’s very simple. This is the building, these are square meters, this is the location, I think it costs 3 million euros. Based on some arguments, you, the buyer, will come and tell me that it’s worth 2.5 million. With other arguments, also valid.

But the difference between my estimate and your estimate will not be large. That this is the building, these are square meters, this is the area. In a service company, you see what rent it is, what rent, that is, it is much simpler and we are much closer.

In a service company that has no assets, no cars, we work with rental cars, things are much more volatile. And then the seller, the owner, can say with arguments, sir, the value of the company is 10 lei and the buyer, also with arguments, other arguments, but also valid, can say it’s 3 lei.

And then we are extremely far from each other , each with his own justice. I say 10 with arguments, you say 3 with arguments, but we are so far apart that we will not reach an agreement. And then anticipating such an evolution, I said, how do we do it?

Well, let someone neutral tell us what the value of the company is. And so the idea of ​​listing on the stock exchange came, in addition to the marketing part that was in this matter. But the moment you get 50, 100, 150 people who

Actually buy shares, so they pay a certain price, there you have a value. To list on the stock exchange, you go through an evaluation process with a consultant who evaluates your company and you can agree or disagree.

But of course, the value of a company is not a number, it’s a difference, it’s an interval. And the appraiser told us, that’s about all it does. Which more or less coincided, as we saw things, but it was an image of an appraiser, not a buyer. And I listed very well.

In vain we used to say that’s enough if there were no buyers. Our company’s employees and outsiders were also buyers. In total, I think we had about 150 shareholders at one point. Which basically gave through their trades that made them buy and

Trade their shares, after that being listed on the stock exchange, they were selling and buying, giving the value of the company. And then we already had a value given by a third party, not just one, the market as a whole.

Good, after that I continued this work, I went with the listing, after which two phenomena happened at once. The bureaucratic part of the listing started to press us a bit, we had to give all kinds of reports on this, that, that.

There was a cost to this, an administrative and bureaucratic cost, of having a listed company, aside. On the other hand, I noticed that in various dialogues potential companies appeared, which could have become interested in us, I noticed that their tendency is not to have many shareholders.

They didn’t want to mess with other shareholders. And then I said, sir, what helped us at that time, I understood, that’s the value, only it started to harm us more than it helped us, therefore we made the decision to delist. And we delisted the company. How long have you been on the scholarship?

About 2 years. I delisted. The delisting is done through a public offer. Yes? All shareholders who invested in us benefited. Because they bought, starting at 7.65 the share, to give an example, or 7.35, they benefited from dividends with a yield of at least 5% for 2 years in a row.

And when I redeemed them, I gave them 10 lei. That means fairness. You were with me, you gave me confidence, you won 2 years, an ok return. And on the resale you made more, it depends on what price you bought, but you made another profit, so… And they won.

What was the highest price per share it reached while it was on the stock market? I think… I think 10. We offered 10 when we decided to delist because we wanted out. Of course, when delisting you notice a phenomenon. Trade unionists appear.

These are people who say I am not satisfied with this state of affairs that you have given me. 5% dividends for 2 years in a row and selling at a profit now. I want 20 lei per share. Because I want so. That’s what I think the value is.

Well, if you think that’s the value, get your hands on it and buy the company for 20. If, oh, no, I don’t want to buy for 20, I just want to sell for 20. So, that’s stock market syndicalism, it exists. So the system seeks to hold you prisoner in various forms.

Luckily I was prudent this time and made an offer big enough to be tempting enough for as many as possible. And the rules of the stock exchange say that if they remain below 5% following the offer, remain below 5%

Shareholders, they will automatically receive the price from the offer and we are left with those few stock exchange unionists who, in the end, took the price from the offer, who anyway they won, but they tried a blackmail, in short, that didn’t work, because blackmail doesn’t work in our case.

And did you break up with Sameday? No no no. And I delisted the company, later the interest of EMAG appeared, which in the end acquired my shares, the 70% and 10% from my associate, my associate still remained a minority shareholder, I left Sameday, that’s it happened in 2017.

At the stock market value or a trade at a value around… Stock market value. Because that was the discussion. We didn’t have to argue about the price. That’s the advantage. Do you get me? I don’t want to argue on the price. The price has already been given by the market.

Why talk too much? We circle around this area. Was that okay? And then that was an advantage for the buyer. Because he had a justification for the price paid. The purchasing shareholders could not hold him accountable for giving too much or too little. We did not have an adversarial discussion.

It was much more comfortable. And what did you reinvest in? I’m indiscreet, but that’s my role. In real estate. So in the meantime I had also sold the investment in Retail Plus Eastern Europe, a company in the Nielsen group bought. Retail Plus Eastern Europe was an entrepreneurial project lasting 4 years, 2008-2012.

Sameday was 2007-2017 for me but it continues now, I sold in 2012 to a Nielsen group company and that was a very good project with a good return where it basically started from 0 expanded into… we became the market leader in the in-store observation segment, which is

Niche of market research we check the presence of brands at the point of sale, we expanded to the countries of the former Yugoslavia and Bulgaria and finally we sold to a company belonging to the Nielsen group.

So, we also had a company there to make a profit and after that there was an exit. Sameday, we have had profit over the years, there has been exit. As we were monetizing these, we were investing in real estate primarily, I had

And still have a real estate portfolio, but I had investments in the stock market. And how are investments in this real estate area developing? Stock market, real estate, precious metals, you name it. What times are we living in? What should they invest in? People who have some money set aside, because they are

Our target audience, people who want to invest, young entrepreneurs, entrepreneurs who have exited and don’t trust to keep their money locked in banks or, I know, you wonder in what the. What would be the opportunities of the moment, given that we have wars, we have uncertain situations, conflicts, uncertain political situations?

It depends on each one. I know you’re also a consultant and stuff… No, I can’t afford to give advice either. It depends on the moment in life in which everyone is, it depends on the appetite for risk of everyone, on the appetite to get involved.

Generally, in life, there are three people, three categories of people who win. The first category is the expert. You are very good at something. If you are very good at something, you don’t need to have employees, you don’t need to have a company. It means that you are needed…

As many people as possible need you a lot and then you will win. The second level is the managerial level. What does the manager do? It makes 1 plus 1 equal 3. So he increases the yield and from this added value that he brings to the team, he also has a component.

The more you have, the greater your ability to value them. It brings you coordination, it brings you a theoretical benefit greater than the man who sells his time. You have many experts on your team. The third level is the entrepreneurial level. Profit is in the area of ​​entrepreneurship.

You are also the owner of the company. So this active form, the risk, is also the biggest risk. That brings you the highest degree of profit. But if you don’t want to experience these thrills anymore and you go to a safe zone, you have to take your money to the zones,

The stock market is a component, but it has a certain volatility and depends a lot on the stock market. It’s like life. It really depends on when you go in and when you go out.

In and out of everything, life is not like this or like that or yes, it is like this, it’s important when you enter various situations, partnerships, businesses, when you enter and when you exit, that’s all that matters, yes? So if you buy low and sell high and to know what to relate to,

You need to determine in advance. When you go to the casino, it’s the same principle. What time do you get up from the table? If you entered the casino, without entering only the amount you are willing to lose. And if you don’t know how much money you get off the table, you’ve lost.

N/A? As a life lesson, that is. Because in the casino you will win and you will lose. You rarely start, you rarely start. Lose and keep losing in such a way that you never end up with more than you came for in the course of the game.

The problem is that people don’t get up from the table. It’s the same in business. It’s the same in business. So they don’t know when to get up, they don’t get up from the table. That they have to determine from the beginning what the target is. It’s the same here.

That’s with the scholarship. And if you’ve determined how much you’re selling at, how much they’re selling at must be a realistic target. That is to value the company, analyze it and know that it can reach that price. And after you’ve determined that that company is actually worth that price,

You need to see if it’s undervalued by at least 50% of that price. Because it will take a while to arrive. And then you say, it’s now, it’s the price to let me go out to this job and then you invest. So it’s with analysis. Fundamental analysis, not just technical analysis.

I mean the analysis… Okay, how many entrepreneurs have that analytical ability? Well then it’s game. Well then don’t go to the stock market. You have to have this capacity like that, it’s not about capacity. Well then go to the grocery store. Well, that’s it, the stock market is the bread.

That’s why they say, I play the stock market. But it’s not a game. You play at the casino. And there’s a science to that too, because probability doesn’t help you. But there is science there too. The game with the highest probability of winning is roulette. Why would I play blackjack?

So if I go to the casino, I don’t like to leave the casino without money. But I know some things. I have not seen riches from the casino. But I saw impoverished people from the casino. Therefore, I don’t pretend that I will beat the odds, so for me

The casino is fun, I go from time to time, I say how long I stay, one hour, one hour, two, I eat for free, I have as much fun as I can , if I make 200-300 euros, I left the table, right? And I say I did, thank you bye.

No, if you expect to go and make a fortune at the casino, it is a mistake, there is no problem. Have you ever won well at the casino? No, but I didn’t play to win, no. I didn’t play, so I’ve never gambled at the casino, more than…

You have a concern that many of those who look at us have the value of time, because the biggest, the biggest resource that man has… In his life is time yes, in fact all our life we ​​exchange money for time and

Time for money let’s explain it a little to young people especially the value of time because those who have the most tendency to lose the alms time it’s the young people the older they get the better they start to appreciate their time young people don’t appreciate their time well enough apparently you

Regret your youth you still wasted your time not that I didn’t waste it what did you do in youth, well, look, we went gradually per global, even if it was more like this, the major decisions were for the best because we had a plan from the beginning,

If you don’t have a plan, if you don’t know in which port you want to anchor, there’s no wind favorable so you must have a plan if you have a plan from the beginning Do you at least know in which

Direction to…, if you don’t have a direction, a distant target, what is the end of life, ideal, how do I want to look back at the end of life, how do I see myself at 90 years old, at 100 years old, because if you don’t have this picture, the actual picture,

Special pensioner, you don’t know, you can be ok. Well, some may have this goal, but if you don’t have this picture in mind, you can take it in the other direction. And what are you doing? You may not reach that painting if you have it, no problem, but you won’t

Be extremely far from it and you won’t even go to it, you’ll go like this. Let’s explain to the young people this very beautiful concept of yours about time and money. Maybe some even learn something. If one person learns something, it is a great gain for the Romanian society.

All our lives, we exchange money for time and time for money. And actually, young people are very aware of this time, because if I go to a 20-year-old guy and I say listen, do you want to trade? Poor! Wanna trade?

I give you my assets and you give me your years and they my age? You will see that he does not want to. I doubt they are all so… How I would make the trade. At the end of life there is no certainty. I would make the trade.

Yes, but the young people of the day… If I were to make the change, they wouldn’t… and they wouldn’t, because at that moment the problem arises and then they really see the value of time. Therefore, in everyday life, unfortunately, I do not see why, because there is a large amount in front.

When you have excess resource, then you don’t value it. This is also the tragedy of rich countries. Excess resources, the curse of resources, as they say. It’s the same with time. Oh, you don’t realize, you don’t realize that life, in fact, is very short.

And actually, we’re not even talking about one life, we’re talking about five, six, seven segments, completely distinct from life. Our life as children is dead. Only the two of us died, the life of children. The life of a pensioner, of a servant, does not yet exist.

So we have some segments, 0-15 years, 15-25-30, 30-50, 50-65-70, yes? So there are segments in which you cannot do with the same efficiency what you could do in another segment. And if you don’t do them when you’re supposed to do them, you never do them again or

You do them in a less efficient way, on all possible levels, because that’s an age for everything. When you get married, when it’s good to have children, when it’s good to learn more, to study, when it’s good to accelerate professionally, when it’s good to enjoy…

So you have to realize that we’re talking about segments of 10- 15 years. It’s very short. A life of 80 years means 40 million minutes. One year, 526 thousand minutes. A month, 45 thousand minutes, a day, 1440 thousand minutes. It passes and is a finite and non-renewable resource.

And where can we save time? Where can you save time? Therefore, if the resource is finite and non-renewable, you must spend it. True wealth is the amount of time you can spend as you wish using resources. So that’s wealth, the definition of wealth, basically.

Of course, some may say that it is living from interest to interest. This is also a correct definition financially speaking. But if you sit and meditate a little you realize that if you define wealth as the amount of time you can spend as you want, that’s

A much more appropriate definition, that that’s actually the goal in life. So that doesn’t mean you have to stay in the sun. You must enjoy living, because time flies. Every minute should, if possible, bring you joy. So you have to do what you love, speaking of young people, don’t chase

The money, you have to pursue doing what you love, because maybe you won’t make money, but at least you’re spending your time in an enjoyable way. Don’t make money to buy pleasure, but do what you love. But if you do what you love, you maximize the chances of being very good

At it and implicitly maximize the chances of making money. So the goal is to actually identify the goal from youth is to identify what you’re good at, what you’re inclined towards and what you like. That’s where time is wasted.

If you don’t focus on this introspective process, where do I want to end up, what do I want the end of life to look like, And what am I good at, what traits do I have and what do I have competitive advantages, what can I benefit from competitive advantages

And what do I like to do, how I like to live in the general way. Then that’s wasted time, because you’re wasting time wondering through life and you get to 30, 40, 50 and you see that the chances of changing or changing successfully decrease.

Because you are already on a line and it is difficult to get out of that line, you become a prisoner. You must not be a prisoner of your own ambitions either, because this is also a form of imprisonment.

But it’s good to think in advance about what, where you want to go and how you want your life to look, when you look back, so that you are somehow satisfied with it. So, going back to the time thing, time is the most valuable resource. The world asks…

It says…, what is the most important thing in the world? And much to say health to them. Health is very important and I would even make a distinction. There are two types of health, physical health and peace of mind. This is what I mean, mental health.

But even when you’re sick, you don’t want to die. Therefore, time is more important than health. After that comes health. Soul peace. 3. Love. Can you buy love with money? Not. Can you buy friendship with money? Not. So there you go, already everything that money can’t buy is more important than money.

And this is how the money ends up in 6-7th place. Basically everything that governs all these elements Peace of mind and all these things, and stress and all these things, hold and are governed by one thing, time. Unfortunately, this show and this meeting is also governed all the time.

Thank you very much, Octavian. Thanks too, it was a departure. Thank you too, our viewers, and we look forward to seeing you whenever you have the opportunity, whether you watch the matinee from 7 to 10, or switch the channel and

See us on the same day at the same time, on a Banul show, in which we discuss from the experience of successful entrepreneurs. Their failures and achievements so that we know what we have to do next in life. Thank you, stay tuned to SENS TV!

#newsmanea #sorinmanea #octavianbadescu
In aceasta editie a podcastului de antreprenoriat – Banul, invitatul jurnalistului Sorin Manea este Octavian Badescu. Antreprenor de succes in zona de curierat, Octavian rememoreaza inceputurile sale in business-ul de curierat, primii pasi ai companiei Sameday si conceptul ”Timpul ca resursa si moneda”.
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Iata cateva dintre subiectele atinse in discutie:

🔥 Cum ajungi din angajat propriul tau patron
🔥 Cand iti dai seama ca esti prea bun pentru actualul tau job
🔥 Cum sa-i spui asociatului tau ca e timpul sa mearga fiecare pe drumul lui
🔥 Studiu de caz Sameday
🔥 Cum iti dai seama ca trebuie sa-ti vinzi compania
🔥 Spune-mi cine esti ca sa-ti spun cati bani faci? Expertul, managerul sau antreprenorul?
🔥 Ce ai de facut, daca tot ai ajuns la cazinou
🔥 Timpul ca resursa in exces pe care nu o valorizam
🔥 Cum poti sa-ti maximizezi sansele sa reusesti in viata

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OCTAVIAN BADESCU

👉🏻 instagram.com@octavianbadescu
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👉🏻 facebook.com/BadescuPentruCetateni/
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👉🏻 site: bancademinute.ro
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👉🏻 youtube.com@octavianbadescu
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SORIN MANEA

💎 https://www.youtube.com/@newsmanea
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💎 https://www.instagram.com/newsmanea/
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