Podcast Episode 23:  If you don’t adapt, you die. The Real Value of Leadership with Vladimir Malakchi

Vladimir Malakchi: [00:00:00] so we moved there on 3rd of September, on 11th of September, this friend stole all my money,

Moved to another city just to spend them in two days. And I came to my boss, sorry, but I need to find another job because here, like I will learn, one fifth part of my, rent,

If you check the my cv, you'll see that I've already changed like probably. Eight industry is different

Like my first job in it was happens because I, I come to fight face to face with the CEO of that company. Because he start making the very bad words to me.

And I remember we were a client and I was like, what, what? What's, what's wrong with you, bro?

And then after two days he called me like do you want to become a sales manager? I. What 

I don't feel. Comfortable in comfort zone because In business if you are not feeling stress. you're not feeling that something changes.

If you're on this zone for me, it's the most dangerous part of your life. Whereas after like 20 years passed. You'll understand that you didn't develop yourself.

[00:01:00] You don't know anything, anything new, and you just lost your 20 years.

Welcome to the iGaming Leader Podcast where we uncover the human side of some of the most inspirational leaders in our industry. I'm your host, Leo Judkins and as an ex iGaming Director turned Performance Coach, I've worked with over 200 leaders from companies like Entain, bet365, Flutter and many more to help them build the habits to achieve sustainable high performance. 

In these episodes, we share exactly what it takes for you to achieve the same. 

So with that being said, let's dive in.

Leo Judkins: Hey, welcome back to the iGaming Leader Podcast. Today's guest is somebody whose name comes up very often, not just as a, as a sharp investor and former exec, but, really somebody shows up for, for loads of people around him. Vladimir Malakchi, welcome to the show. Great to have you here, man.

Vladimir Malakchi: [00:02:00] Thank you a lot, Leo. for me to participate and to speak with, with you about all of this, like marketing as we discussed. It's more like about some interesting stuff. I'm always excited when, the interview. Or is, awesome guy who we can discuss anything in this work. Thank you for inviting.

Leo Judkins: Really cool to have you here. You know, like where I'd love to start, Vladimir, is I, I was asking in my mastermind,  group, who are some of the people that have inspired you most or that you've either worked with or you've spoken,  spoken to, and. Yours was one of the very first names that actually came up.

I dunno even know if you know, but yours was one of the very first names that came up and the reason for that was because. I, I said, okay, so why Vladimir? Well, it's because you are always super helpful to people and you are always somebody that's helping people, push people forward and be there for others.

And, and that's really where I'd love to start, if that's okay for you. So, you know, you're quite known for inspiring and helping others. Is that something that is always been the case for you? Or is that something that's grown over your career? How did that, how did that all start?

Vladimir Malakchi: [00:03:00] first of all, now probably it's because I'm. fan of receiving,  such feedbacks because this is the big, the biggest one I can, I can receive when somebody is telling the I'm inspiring and when somebody's writing, writing to me that it's all super can and that's helped,  I don't know, to write the business as some network. It's cool that's why, where you feeling that you are doing it the right way. It's not about like how much money you earn or something like this. Of course, like it's resources needed. 

Everybody's looking for this, when a lot of different people whom you are really like. I don't know, seen two, three times in the whole life, telling you that you are inspiring them. It's awesome. about how did it come? Was lucky enough,  most part of my ex bosses, ex chiefs , they were always about supporting from the beginning, like. one story, which was probably one of the first, most remember for in my life to another city, a big city, very hard city, very bad movement, a lot like I was 19 years old, you know, nothing in the head honestly, and trying to, to do something. 

[00:04:00] And I came to the first job and, it was a government job. Working the government job in Ukraine, you can't jump to the higher position, especially if you are like 19 years old. You need to grow and the salaries are very low so we moved there on 3rd of September, on 11th of September,  this friend stole all my money,

Moved to another city just to spend them in two days. This money was for half a year. So for you understand it. And I came to my boss, remind you, I working for eight days. He knows me before because,  he, like, we have some friends together, but he never worked with me.

So he just seen what I'm doing in some things. Had some call eristics about me ex,  bosses, but nothing more. So I came to him and tell like, bro, like, sorry, but I need to find another job because here, like I will learn,  which will be. one fifth part of, of my,  rent, so it won't be enough for me. 

[00:05:00] So we need to find something to, to work. And this, this was the crucial moment of my life when the person who you do don't know at all, you meet him like five, five times in, in, in your life with some majors. And he told me, okay, like, what happened?

I told him what happened? He helped me to find this guy. He helped me to bring him back. He helped me to go to, to put him in the jail. He also give me, he asked me how much money I need for my living for half a year until I grow with a normal salary. He gave me this money from a, in, in an envelope, just from him, not, not

I was very grateful. I, you like I, it's already like 14 years past. I'm still very grateful to the, to this person and whatever he ask, I will help him,  and always support him. was the first case.

And you know, like during all my life was really lucky to work with people. Somebody teach me, somebody mentoring, somebody supporting, Most part of them. 

After my 19, , I had the whole, my career, I had only really good people, even if they were rough or that's had some conflicts and so on, but it was a job conflict. You know, when or when you shouting one on one on each other.

[00:06:00] Then just because of job question. whiskey because like, it's okay. No questions. Oh, now we can, now we can be friends. So yeah, this is the example I've received this is what I want people to think about me when we, 'cause like you will stop working together.

It's normal. somebody will continue working with, somebody will change their career some, but like, it's okay. It's, it's it's life. But the things they remember about you. For me, the most important, and I want them to give maximum as I can. I want them to see growth because as you know, I'm seeing some people from, from around me, whom I worked with before and how they're growing.

They're becoming public people, and, becoming very, very, very expensive top managers with, of responsibilities, with doing a lot of things, with reaching new heights, and it's good. probably it's ego. I dunno, but it's feeling very cool because

Leo Judkins: [00:07:00] Yeah. Yeah, I love that man. What a story. You know, and what I love most about that is, is that real conflict, right? You've got somebody that you've really trusted. You've got half a year of, money together to, to move you forward. Somebody that you know you've been friends with for a very long time, betrays you, and then somebody that you don't really know.

That you've known for, what did you say? Eight days?  actually does the opposite. Right? And there's somebody that you can really lean on and,  my belief is that all of our biggest growth always happens in our biggest challenges. You know, it's always our biggest challenges that create the, like, are also the biggest opportunities.

You just don't see it when it's when you're right in the middle of it, when it just happens, right? Because you feel. Awful. So, so tell me a little bit more about that. Like, in that moment when that guy ran off with your cash and before you actually had the chat with,  with your boss.

What was some of the things that were going through your mind? Were you more of the mindset of, I'm gonna give up, I need to go back? Or were you, I'm gonna fix this. Like, what was your mindset back then? Do you remember?

Vladimir Malakchi: [00:08:00] I remember very well. I, I think I remember each day of that, of that month because,  had an idea to return back. I. Because when I leave, leave some business be behind because I had the proposition from my ex job to have some part of the equity of the business because I grow something and so on.

And,  I declined it. I don't know, like, like it was good decision or bad decision for now. Like every, every bad decision for now is recognized as a good because it give you the way, the way where you now. But I've changed the business I fell in some kind of romantic love and to another city, not because of like some business growth or something like this.

I moved there because ha there is my, lovely lady. So I with her. Like I'm nine, 19 years old. Don't,  don't judge me, the issue that when I moved out, my, my mom , she told me like, you are doing mistake. You have everything.

You receive a good business opportunity. You've made good, good things. You have an equity, like you are 19 years old. So everything awesome, let's do it. I don't know. 

[00:09:00] You don't understand. I will, I will,  exit it because,  for that business, I need to be in another place. And I don't allow, I will exit everything because I, I, I'm sure that it's a good decision.

So It's now, it's,  very modern to tell like, oh, of course. Like, it's your decision. It's your space, blah, blah, blah. Do whatever you want that time.

Now what the fuck are you doing? I told you like, do like this and so on. like, imagine two weeks, like even not two weeks, one week, one week and several days. What if I return back, what my mom will do/

She will, she will remember me each day about what's going on. I've told you, you lose the business.

Blah, blah, blah, blah, blah, blah, blah, blah. I wasn't ready for this. It was for me. Also be better to live. To live somewhere in, I don't know. I will find some, someone who will live You know, like that time the variant to return back and to see mom's eyes and to see that she's disappointed because she told you and so on. 

[00:10:00] That was something I want, I want be, it'll destroy me. So no, there was no choice. I was thinking about findings. Daily job with a daily payment. I was thinking about like canceling the contract, trying to receive the deposit back. I had some options to communicate. 

So I had, I had this in my head to find some very, very cheap place.

You know, not, not the flood, but some room and so on. So it, it, it was about like circumstances you need to adopt and this is what, what really any founder should do. Like you need always to adapt because some kind of. bad things, they will happen all the time. It's no, no, no. 

Nobody secured. Even if you have,  some insurance and say, anyway, it won't help you in way, it will kick you out from, from your normal, normal way, normal thinking, and if you are not adapted, you'll die.

You need, this is, this is probably the best. the founders had. You need to be adapted very fast market is growing, especially nowadays. Everything is changing each day. know new trends, new things. 

[00:11:00] There is TikTok trend, there is AI trend, there is Instagram, there is books, there is business. What's going on? And you need, you need to understand everything because everything in chain, everything. It depends on, on the. If the world is like driving so fast, you must adopt your business.

think this is a very cool skill. So yeah, this, this was the case, lucky,

Leo Judkins: Man, I don't, I I disagree with you. It's not about luck, right? It's, you make, it's, I, I kind of hate the expression, you make your own luck, but it, a lot of that is in mindset, right? Is in, is in actually the, the steps that you take and the, the, you know, the shame that you feel for having to go back as a failure and, and then that creating the fuel for you to take the steps that you.

You need to and and that's to find your career, the rest of your career, I'm sure, right? Like that is, that has shaped who you are as a person today.

Vladimir Malakchi: [00:12:00] I, I, I think one time I will write a little book about like changing, changing the careers from, from to step because,  if, if you check the my cv, you'll see that usually I've already changed like probably. 

Eight industry is different all the jumps from industry to industry, it's much about, it wasn't like, okay, you sitting thinking, you know, some cases. Like my first job in it was happens because I, I come to fight face to face with the CEO of that company. 

Because he was our contractor and,  we didn't pay in time, it was our like, not our fault because we are government, and government always makes some with the timings.  and he was. How he called in that time. He's, I'm, we are to Alpha

they hired only alpha, alpha people now. Never this kind of better dental or something. Only like alpha because like, trust me, that's, that's sales school. It's nothing that you read in your books.

[00:13:00] Read a lot of books in the sales. I've read a lot of books about speaking discussions, all the like, psychological stuff. But I never read that school of sales. 

That school of sales telling you like when the client is coming to you speaking like, how much money you've told you have from the beginning before, before selling anything. They're like, okay, I have 5,000. You tell hmm. Now 5,000 is like, you can see there is some very bad company. I want to tell the real world, but there is a very bad company in the corner behind. 

Go there, they will make you for 1000 from your five, save four, make this 1000, put three in your market, and then you understand that you already screw up and then you will come and put eight, eight for us for the beginning.

That's, that's what the sales this says. Right. And this was like what? Because before I was learning like, you know, normal, like when you're very polite and so on, no aggression, nothing. Nothing. And, and then like a new school. 

[00:14:00] And yeah, be, because I came to, to fight with this guy because he start making the very bad words to me.

And I remember we were a client and I was like, what, what? What's, what's wrong with you, bro?

to him like, and to explain.  it's not the case to speak with me, right? Like this. And also, first of all, I, I'm fighter myself for the whole life. And the second where I work in government structure, which has a lot of influence, I told them like, you are really in a bad position to, to argue because you will, you will, you will lose it from both sides. you know, like we dis we, we solve it by the words we have explained him situation. 

He explained me. And then after two days he called me like do you want to become a sales manager? I. What I, I don't, nothing. I, I don't know anything about like IT, product and so on, you know, like, it doesn't matter.

We'll learn you and in two months I exit the job because,  there were some. Changes was in the government. So two months, I called him and told, like, your proposition is still, is still on the table, so of course come.

[00:15:00] Do you know why? Because he didn't give a salary, just condition. nice, nice start of Korea. Yeah. So yeah, there were a lot of, a lot of such, such things and stories, but in some cases it's not even the luck, what I'm, what I'm putting on the terms of luck. I. There are always some options and possibilities around you always.

Doesn't matter what happened in this world, there are always a solution. You know, like,  how I respect it all. Like a very popular phrase. Yeah. When, when somebody, somebody's staying with a gun in your hat. It's not about like,  give you money or just die. They're around 104 40, 48 other solutions. You just need to see them.

is, this is the same. You just need to look. You just need to think what do, what do you prefer? What are you looking exactly for?

When you start thinking about what you looking for, what do you need, will start finding it because you will start remembering contact people. Spokes information doesn't matter. You will start remembering because you will start focusing on what,  what you need. What are you looking for? 

[00:16:00] Not on the problem. How you, on the solution that you like. For example, I. If the business is crushing, you don't need about like thinking about, oh, okay, it's crushing. You need to think about, okay, I want to close it and open a new one.

Okay, it's one decision or I want to renew this, or I need to solve the problem while it's crushing because of, I dunno, some market changes

to change market doesn't matter, but you need to focus on the solution. I'm sure you will find a lot of you know, universe, which is modern to tell.

Yeah. Universe will give you everything you need and you just need to take it and see it.

Leo Judkins: Yeah, I love it. Vladimir. I think one of the big things is also, about increasing your surface area, if that makes sense. I think it's just you wanna be a great person to work with, you know, and you are a person that works really hard.

That is adaptive. That always is proactive. It increases your surface area for luck, right? And then opportunities happen. But because you've got a big surface area, those opportunities will find you. That's how I see it. I dunno if you feel the same, but I think a lot of it is really in your own control.

It's just about like making sure that you, you spread that, spread that as much as possible. 

Vladimir Malakchi: [00:17:00] I think I was speaking about those people who,  are reading a lot of, 

books about smart,  RT system. Or they were like looking for a secret film and then they're like, okay, I. I'm just start thinking

Leo Judkins: I'll speak it into the universe

Vladimir Malakchi: Yeah.

Guys, guys, forget about this. is important to think what you want because you need to focus your mind on this, but never, and I've read a lot of all these books and see all those films. 

It's not giving you an advice to sit on your sofa and somebody is happened . If you're just saying staying on the place and you don't do anything, you're just thinking the only thing you'll receive, it's kind of ideas. 

You need to learn. You need to start moving, moving, moving, moving, moving. Always, you know, moving in life.

Leo Judkins: [00:18:00] Yep. Yeah, I love that.  I had a, a podcast interview with,  Sasha, who is the chief commercial Officer at Playtech Live last week. And, , she was talking about how she actually got to that position and she said, for me it was just knocking on doors of the sea levels, you know, it was actually showing.

That because they don't know, like you were saying, right? If you're gonna sit around and wait, they don't know that the things that you know about yourself and the opportunities that you can bring to the business and your skills. So it's about putting yourself out there. But that's obviously, for a lot of people, that's sometimes uncomfortable because it's not comfortable.

But growth doesn't happen outside, inside of your comfort zone, right? You've gotta, you've gotta get out there. 

Vladimir Malakchi: Growth is not comfortable at all.

I'm hiring right now with person, and I didn't even give her a test, test task or something like this because after she told me like how she. Start,  IGA in Korea. She was, she had a dream to start working with iGaming because she did,

she never did it before, but she has a lot of network around speaking and so on.

[00:19:00] And so, like, I was interested what the industries and told Okay, what, what did you done? So, okay. I asked about some conferences. it was ICE because she live in Barcelona, so okay. I meant to, I get,  find the tickets twice from, from my friends. 

It's so like, I start speaking with people and tell 'em like, see, this is my story. This is what I can, if you have a job for me, just tell me like, I will, I'm ready to interview anytime. Its so,

just speak with all the companies that I'm looking, what I'm looking, what I'm running in the five, kind of like three, four minutes of, speaking and it sounds so like I get just not to what, seven or eight interviews.

from going around. The who has no experience in a gaming, cool lady with, with some really,  very awesome business skills, but no experience, no network, nothing. But you know, like this kind of confident that she will find something like seven or eight interviews, guys, just one day easy.

Leo Judkins: that's exactly what I meant, right? That is increasing your surface area for luck, and then opportunities when they appear, they will touch your surface area. 

So I love that. That's a great example. I wanted to touch a little bit on kind of what you were saying about founders there of Vladimir, because one of the big things I suppose that people don't realize when they, when they start a business, especially when they've been in employment, is that's,  actually you need to do everything.

[00:20:00] We're talking about it before as well. , the light breaks, and you still gotta, you've gotta fix the light. You know, it's not just about, sales or about business development or about marketing. It's about all of it. But the thing I wanted to ask you is about what you were saying earlier,

One of the most, important skill is that you've gotta be able to adapt. Right? Search, for example, is changing. People are no longer Googling as much, everything is in ai. You know, like that massively impacts your business. So how do you balance the, your mind kind of always wanting to change things and seeking new opportunities with.

Also as a founder, staying the course and being known for your product or your service, and doing that for long enough to understand whether or not that is gonna be a,  a hit in the market.

Vladimir Malakchi: You know, very nice question. I never think about this.How, how I'm managing such things, first of all, I think the, the second very important, characteristic.

[00:21:00] It doesn't matter your phone or not, whether it's just important for, for a human being, need to have some kind of self analyzers. If you can self-analyze yourself, find somebody who will help you to understand who you are, and you need to understand that you are not universal person. 

You have a lot of pluses, constant pros and cons. need to understand what is your pros and cons, and there are two ways. you need to make stronger your minuses, just work on them. In some cases it doesn't work. In some cases, it better to cover it another way and focus on your strong side. It depends. In my case, quality person. I'm feeling very comfortable in chaos.

Happened in the world, I'm feeling comfortable in stress, whatever, as more stress in, in my job, as more stress in my life. I'm more focused, more oriented, and I am more productive. But it's my life. It's not it. It can't be showing to the people, it's can't working with the people, because I understand that people need system.

[00:22:00] They need to understand tasks, they need to have deadlines, blah, blah, blah, blah, blah. Different people, so I know it's my minus. So what I'm doing, I can rather start fixing it, which is impossible for me, I can just find the person who will help me with is why I always have my assistant.

I'm always trying to find assistant who's very systemized, very structured, who is in control of everything. And this is, this is my fixing, fixing of my mind. So every idea I have in my mind, I'm sent it to assistant. Because she know that, you know, I can go somewhere and that how on my photo, having a brilliant idea, which the whole team should start working on. 

So I had anything, I put it to my assistant. Then she's structuring the due to priorities, due to some stuff, what the bits more important what blah, blah, blah, blah, blah, this stuff. So whatever, I have some idea, what should I do? I'm writing what, what, what next? What I forgot. Or she's remind me, okay, we forgot this. 

[00:23:00] Okay, this project is you doing this. This is KPI for this project, blah, blah, blah, and so on. So this is the case you always have solution to, to find, but to find the solution you need to understand the problem.

Leo Judkins: Yeah, I love that. you've gotta understand your strengths and your weaknesses. And very often I think people, like you said, people make the mistake of wanting to fix all of their weaknesses, whereas actually you can fix them by, by getting support in that area.

And when you focus on your strengths, instead they become your super talents, you know? And I think,  that's such a, such a great answer. The,

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Leo Judkins: were, as we were talking about your example of, you know, losing that half a year of, of, of money that you had saved from, against, from a friend and,  then having somebody to support you.

That adaptability is really important. But one of the things that I sometimes see with founders is difference between founded businesses and or, you know, funded businesses versus bootstraps, is that there's also a different level of fear, I suppose, that's driving them right. If that makes sense. So very often when you see bootstrap businesses, not a lot of money in that business.

[00:25:00] You see this fear of having to go back to employment or something, and that drives some insane. Insane,  performance because, there's no safety net and sometimes we feel that that, that we need a safety net to, for us to be able to make the decisions that we want. Whereas actually very often the lack of a safety net is the best fuel you can have to drive your performance.

 I dunno if that makes sense, but I wanted to ask you what you think about that.

Vladimir Malakchi: I think in some ways you are fearing of both variants. Your fear of what, what, what's going on in future, because you have always this, I doing right? I exit airplay, I was probably thinking for about like three or even more months about what did you done?

You worked a huge company, you build this company, everything, everything good.

You have an amazing business partner because this one really like a dream partnership. I'm very grateful to Yvonne about everything we have done. It's, it relates what dreaming for for years. 

[00:26:00] Right now. Where, where are you going? What, what, what's going on? What, what to do next? but it's always about the fear from both sides.

And you are comparing, like when you investing, there is a analyzed. You need to find how to cover this risk, and you are looking for work you are comparing risk to reward. If the risk is reward is high. Well, if the risk is low. They can't be, they can't be high reward. I don't, I don't trust inside, inside rep anymore, probably like 10 years ago.

I trust it now. I don't. I think it's, it's about comparison. Risk is here, rewards is here. what I'm feeling with moving here or there is, returning back, but the fear is. to three And the reward will probably, yeah. It'll be stability. It'll, you'll feel comfortable. 

You will have no stress and so on 'cause everything understandable.

But the fear is to be in this comfort zone, for example, for me. It's a huge fear in Conover there is a risk of won't succeed. I.

[00:27:00] But if you won't lose everything, the reward is high. and you, you also the feeling that you've done. You've well. You win it. This is, this is very important feeling.

Leo Judkins: you were talking about Eva play, right? You've 25 x revenue there of that, that's what the revenue growth was there. 

You, you know, you were in nine markets over saw seven departments. So tell me a little bit more about that fear of, staying in your comfort zone. Where is that, where does that come from? Why are you so fearful of that? 

And.  what does that look like for you on a day-to-day basis? Going outside of your comfort zone? What are some of the things that you do to make sure that you, that that doesn't happen to you?

Vladimir Malakchi: What is comfort zone for you? What do you feel when you think about comfort zone?

What the first words that's coming in mind when you're thinking about confirm zone.

Leo Judkins: Yeah. Comfort zone for me, first word that comes to mind is, is laziness, just standing still. And for me, standing still where the rest of the world is going forward means going backwards. I don't like thinking about the current situation. I like thinking about the trajectory that we're on.

[00:28:00] So I'd like to think forward and kind of almost draw a line and go, okay, if this is where I am today and these are the things that have been happening, if I then kind of fast forward two or three years, this is where that's gonna end up. And that's where I know usually when I'm in comfort zone, if I fast forward two or three years, it's not a great place.

Vladimir Malakchi: Yeah, so remember this. When you are the smartest guy in the room, probably need to change the room.

And this is, this is, this is the same. I don't feel. Comfortable in comfort zone because understanding, probably because I'm working on self-analysis even more than, I should, but I'm thinking a lot about like, what's, what's going on?

What you've reached, what you've done, blah, blah, blah. And when you are filling in that, okay, you are in comfort zone, everything good, everything boil forward, don't develop, there is no self development when you, when you are in sport. Like my training told from my, like fourteens, if you are not, fully sweat after the training, the training was bad.

[00:29:00] Go for one while, for one additional hour because it's, it meant that you are not training on the level, you are evolving, you are training on the level, you are normal and they're not giving you results.

In business if you are not feeling stress. Possibly in some ways in life as well. If you're not feeling that something changes.

If you are always okay, it's comfort, everything. Good. Okay. I have some normal salary, good. if you, if you're on this zone for me, it's the most dangerous part of your life. Whereas after like 15 years old, I know 20 years passed. You'll understand that you didn't develop yourself.

You don't know anything, anything new, and you just lost your 20 years.

Me again, it's not for everybody. I don't want to, there are a lot of people who feel comfortable with this, and they're lovely and it's okay. I'm not judging them because we're different. and it's okay, but for, for such people like me, it's not okay. It'll kill you. 

[00:30:00] Founders. For people who are like making their businesses ambitious, the top managers, it's not okay. Never, never give yourself an option to stay in comfort zone.

Leo Judkins: I think it's a good example also of an area where you don't build resilience, you know? So if you stay, inside of your comfort zone, stress, like stress is inevitable. And actually stress is not a bad thing. Stress too, because too, too little stress means you are bored, right? You feel lethargic.

So you need stress in your life. You need pressure in your life to be able to feel motivated, but. unmanaged stress is an issue if it's too high. The thing is that you, I feel that outside of your comfort zone is where you build resilience. If you stay inside of your comfort zone for 20 years and something happens, you get made redundant or whatever it is, then how do you deal with that situation?

How do you. You know, what are the, I think the, your foundations just fall away underneath you. And that's, I think that's the core issue that you are unable to deal with the inevitable, lemons that life is gonna give us. 

Vladimir Malakchi: [00:31:00] It's a kind of trap of our brain, brain delays as part of, of ours, it's catching us in.

Let's compare it with the running.

Once you forgot running, you didn't run for two years, for example, and you are okay in physical form. So you are okay to run and then you're starting running in the first kilometer. know the first feeling that will come. You'll start having pain. you will lose your breath. 

This is the first step when the brain tells you like, stop this. I'm tired. I am, I need energy for something else. I didn't, I didn't,  create what for, but I need it for sure. you, when, if you start telling your brain that, no, it's my energy. I need it now, just give it to me. The pain will go will, you'll probably run around two kilometers more easily no because you, you already like win this. And this is talking about not, not about running. At the end of the day, it's about everything 

Leo Judkins: [00:32:00] how is this, like you've seen hundreds of decks, right? And so how do you see this? Same idea of running, being through first time founders versus founders that have been around the block for a little bit.

What is the, what are some of the key characteristics that you see as differences between, founders that succeed, or founders that you kind of see as a red flag and, give you reason to pause?

Vladimir Malakchi: The first difference between like serial founders and.

Serial founders are more, much more confident in what they're doing . 'cause they already know what they're doing. 

They've already probably done it several times, whatever question you have, they already have an answer for this. 

And it, it's not so difficult. let me give you an example. Just from, from yesterday night. lady who is helping with the scouting, like an agent,  she has some network around and she, she was reaching me about like, oh, we, I have a good project. Let's took a leak. I, I sent it into a mail to like, I, I, I didn't say anything, 

[00:33:00] Sarah probably I replied to something or something like this. and I told her, of course I didn't see because there was no pitch deck analytic from a website and, and I, it's okay if it is SEO project, but it's a kind of product, products site with some product, which I still don't understand what they're doing, honestly. and it's like this is the level of preparing because serial phone, they will never do it like this.

They will have unity economy, doesn't matter what the product, they already have the projection, at least for two, three years. already have a pitch deck. They have a one pager. Or even the kind of preparing the memo, like a demo version of ma so you can, you can move forward. So you don't need to spend dime a lot on them. Everything they, they can done, they already prepare for you and they, they understand how to, how to show themselves because before they call, they,  training it.

If they're especially like two, three founders, they train it. Who is speaking for what, who is answering which questions. And it's very filling. And you, when you come into such calls, you feel interrupt you, in the hands of good team because you ask, they, they answer you very quickly, smoothly. 

[00:34:00] The conversations go in the right way from the beginning, and this is the difference. So the only thing that you need to do is start thinking like, put yourself on the place of investor. 

And that's all. It doesn't mean only investor, honestly, whatever. You are coming to some negotiations. Just put yourself on the place there.

It, it's always what I'm doing when I'm preparing because, you know, they're all, all important negotiations. I'm preparing in my head like, okay, I will tell this what the possibilities. The person can tell me, okay, this, this what I answer this. And so, so you're playing this role play game with yourself the beginning.

It's difficult when you are like a new guy. You need to play with somebody because it's much easier, to play role, play games. you need somebody to help you with this. But after some, some time, if you're skilled enough and you, you really can put yourself, you know, like a, like a chess game.

Leo Judkins: [00:35:00] I'd imagine perfectionism is something that kills more startups than failure.

Right, because people are stuck in their own heads. They overthink. They never make their first sale because the product's not polished enough. 

And so they don't, they don't test it in the market. is that also something that you see and, and, and if so,  Vladimir, what would you advise to somebody that is maybe very introvert to them and continuously overthinks things?  that is in that same situation?

Vladimir Malakchi: I've seen it a lot even in our portfolio. I'm seeing, I'm seeing the same situation in some we are working with this. Usually if I'm seeing a situation, I'm jumping to the project weekly or even day, daily basis, working with them to overstep this. whatever advice. why did you think that your project need needed by somebody? 

Just ask yourself. Because you've seen some problem. did you ask anybody? Do they have this problem? They're usually, you are starting from your friends and they're telling like, yes, yes, yes. It's so good.

[00:36:00] It's so good because they don't want to harm you. But ask them how much money they're going to pay for this. telling you 100 bucks, okay, take, take this 100 bucks for them. Huh? So I, I can bet that half of their friend that are telling that they are ready to pay 100 bucks for them, they won't give it to you.

And even, even if they have, like, won't give it, but because again, they don't want to harm you. They want to support you because I'm okay. 

Everybody showing is showing that we, we need to be supportive even all, all the time. We need to be supportive. I don't, I don't trust in it. I, I am, I'm happy with my friends because if I'm doing some bad stuff, my friends are not afraid of telling me like, what the fuck are you doing?

Vladimir Malakchi: Just it, bro, it's not working. All of these questions, this is the most important part. You need what need to start from. doesn't matter what your product is, even if it is MVP with some rough stuff. If you can't sell it, you probably need to find a founder who will sell it.

And it's all like, this is the first time.

[00:37:00] It's not about money at the beginning. It just about understanding that your product is really demand that somebody wants to pay for it, somebody want to test it. Somebody want to spend time. Working with your product, and this is the most important,

and also you will receive feedback. What is correct, what is not correct. as a, as a market and sales, you always just fight with the technical guys, especially like cto, right? Product is the most important. Product is the most important, I tell, you know, the problem is that. Sales, I can say I can sell anything without you, without the product yet,

Take money and then develop the product. In your case, you have a product, you can't sell it. That's, that's, that's crack. So my, my advice here to every startup, doesn't matter. Collect every contract you have Improvement signs some money, sell it a bit cheaper, give it for trial. Give, give advice, but not try to make the ideal product.

There is no ideal product in this world. It's nothing ideal in this world. Let's look at the mirrors. We're not ideal. Nothing even even close to ideals.

[00:38:00] The only matters when the market is telling you that they need it. You, not your mom, not your friend, and, and so on. or people who are gonna, probably somebody of them will be your clients, but if they're going to pay them,

To pay for this product and they're paying you, that's, that's a good signal.

Leo Judkins: I think one of the big things with overthinking is also that you overthink it and overthink it, and you spend weeks, or months, you know, 

on some sort of product or service. And in the end you deliver it only to find that when, when people start paying that it wasn't perfect and then it was maybe 80% perfect, although you spend all that thinking on it and then you've gotta go back and actually fix it.

Whereas if you did it really quickly and you did it to about 80% perfect, you actually have exactly the same results. The difference being you didn't spend weeks or months on it, you know? I think this is such an important lesson that again, comes from repetitions, but,  yeah, just to kind of underline what you're saying. Vladimir, last one man. 

[00:39:00] Like one of the big things for you with your investments and pitch contests that you're doing is really to also leave a lasting impact, right? 

Like, if it would all stop tomorrow, what's the one thing that you want to be, remembered for not as an investor, but as a person?

Vladimir Malakchi: For the people whom I come and help to grow. In personal and business, business life. 

This is what I'm doing part of my life and this is what I'm proud of. And all these, all these people around is a kind of inner circle community of people who trust in who trust in me sometime to give their own faiths and in some cases lives to, to give in like Under my control in some way on this, on this meeting. 

And I'm happy that I didn't, broke it. And I just find a way to help them to grow. And they had the most important, they found these strengths in them to grow . really this is, this is the only thing I want, this world to be, to move. Like remember, to remember myself for.

Leo Judkins: [00:40:00] Love it. Thank you very much, Vladimir. It was amazing conversation cuts past the surface and thank you very much for joining us and  yeah, great chat. Thank you.

Vladimir Malakchi: thank you. Cheers. 

Thank you for joining me on The iGaming Leader Podcast. If you enjoyed today's episode, head over to iGamingLeader.com for more conversations and insights. Don't forget to subscribe to this podcast. 

I'm your host, Leo Judkins and I hope to see you next week.