Business is About People: Viachaslau Makarau on Building Trust and Lasting Success

Nowadays, individual entrepreneurs face numerous challenges, from economic instability to technological disruptions. According to recent data, over 20% of small businesses in the United States fail within their first year, rising to 50% by the fifth year. Entrepreneurs must stay agile and innovative to survive in such a competitive landscape. Yet outstanding entrepreneurs like Viachaslau Makarau are unafraid of these challenges and eager to share their knowledge and experience with aspiring business owners.

Viachaslau Makarau, a distinguished entrepreneur from Minsk, Belarus, has achieved remarkable success with his men’s clothing store, “OWEN.” His business has become a leader in the industry, boasting revenues three times higher than similar businesses in the country. Viachaslau’s achievements have earned him recognition as an honorary judge at prestigious events like the International Championship of StartUp Projects “Youth and Entrepreneurship,” where he actively mentors the next generation of business leaders. His deep market insight and innovative strategies are at the core of his business’s success. In a recent conversation, Viachaslau shared some of the secrets behind his achievements. His insights offer valuable lessons for new and experienced entrepreneurs looking to navigate today’s challenging business environment, providing practical guidance and inspiration for those seeking to elevate their businesses.

Start Small, Think Big 

Small businesses face many obstacles in the global retail industry, especially when securing and maintaining strong supplier relationships. The complexities of global supply chains can lead to significant disruptions, as seen during the COVID-19 pandemic when even large corporations like Nike struggled with delays and shortages. These issues are even more pronounced for small retailers, often resulting in higher prices, unreliable deliveries, and difficulty maintaining a consistent inventory.

Viachaslau Makarau’s success results from his resilience, long-term vision, and strategic planning. In 1995, with just $40 in his pocket, he launched his business during economic instability. His careful planning, reinvestment, and unwavering focus on quality have been the pillars of his success, allowing him to grow his business steadily over the years.

One of the significant challenges Viachaslau faced early on was establishing strong supplier relationships in a highly competitive market. Many small retailers need help to secure favorable terms with suppliers. They often face high prices or unreliable delivery schedules, which can severely impact their ability to maintain consistent inventory and meet customer demand. Viachaslau recognized that building trust and reliability with suppliers was crucial. He addressed this problem by focusing on long-term partnerships, offering consistent business, and negotiating terms that benefited both parties. This approach ensured a steady supply of quality goods and allowed him to negotiate better prices and payment terms over time.

“Building strong relationships with suppliers is like building a foundation for your business,” Viachaslau notes. “It’s about trust, consistency, and mutual benefit. When you invest in these relationships, you create a supply chain that supports your business goals and helps you stay competitive.”

This strategic move allowed Viachaslau to maintain a consistent inventory, reduce costs, and pass on those savings to his customers, further solidifying his store’s reputation for quality and affordability. His success in overcoming this challenge highlights the importance of viewing suppliers as partners rather than just vendors in your business journey.

Adapt to Change 

In today’s rapidly evolving business world, staying stagnant is not an option. Companies that fail to adapt to changing market conditions often struggle to survive. For instance, during the early 2000s, many traditional retailers in the United States faced significant challenges as e-commerce began to dominate the market. Like Blockbuster, businesses that were slow to embrace online sales eventually went under, while those that adapted, like Netflix, thrived.

Viachaslau Makarau understood the importance of flexibility and adaptation from the start. Initially, his business focused on selling synthetic detergents, but by 2001, as market conditions and competition intensified, he recognized the need to pivot. Viachaslau shifted his focus to light industrial goods, which offered better margins and growth opportunities. This strategic move allowed him to remain competitive and continue growing his business.

Recognizing the importance of location and market access, Viachaslau made another crucial decision in 2008—he moved his operations to Minsk, the capital city of Belarus. This move gave him access to a larger market and positioned his business to better weather economic fluctuations and take advantage of new opportunities.

“Change is inevitable in business,” Viachaslau reflects. “You have to be willing to pivot and adapt to survive. What worked yesterday may not work tomorrow, so staying flexible is key to long-term success.”

Leverage Technology 

Technology plays a crucial role in determining a company’s success or failure. Companies must leverage technology to stay competitive as consumer behavior shifts towards online shopping and digital engagement.

Viachaslau Makarau has proven to be a forward-thinking leader in the retail industry. Recognized as a top expert in his field, an invited jury member for the National Business Awards 2023, and an author of scientific articles in reputable journals, Viachaslau has integrated advanced software solutions into his business operations over the past few years, significantly enhancing efficiency and profitability.

By implementing state-of-the-art inventory management software, Viachaslau minimized stock levels while maximizing profitability—a crucial move in a market where excess inventory can lead to wasted resources and lost revenue. His strategic use of technology didn’t stop there. Recognizing the power of digital engagement, Viachaslau leveraged social media platforms and implemented loyalty programs that resonated with his customer base. These efforts led to a remarkable increase in revenue, from 30,000 BYN in 2020 to an impressive 100,000 BYN in 2023.

“Technology is not just a tool; it’s a mindset,” Viachaslau reflects. “By embracing the right technologies, we’ve been able to streamline our operations and connect with our customers in ways never possible. It’s about using innovation to keep up with the competition and lead the way.”

Focus on Quality and Service 

Many companies cut corners to reduce costs, which leads to a decline in product quality and customer satisfaction. This trend is evident in the rise of fast fashion, where low prices are prioritized over product longevity and quality. However, this approach often results in losing customer loyalty and long-term business sustainability.

Viachaslau Makarau has taken a different path. Since founding his business, Viachaslau has made it his mission to focus on quality and exceptional service—two pillars that have become synonymous with the OWEN brand. Known for its high-quality fabrics and accessories, OWEN has built a reputation as a go-to destination for men seeking stylish, durable, and well-crafted clothing.

What truly sets OWEN apart, however, is the personalized shopping experience it offers. When customers walk through the doors, they are treated with the utmost care and attention. Whether helping a customer assemble a complete outfit from head to toe or providing tailor-made alterations to ensure the perfect fit, Viachaslau and his team go above and beyond to meet their customers’ needs. For those who prefer the convenience of shopping from home, OWEN offers home delivery services across Belarus, ensuring that every customer receives the same high level of service, no matter where they are.

“Quality and service are the heart and soul of our business,” Viachaslau shares. “We believe that every customer deserves the best, and we’re committed to providing products that look great and stand the test of time. Our goal is to make every shopping experience special and memorable.”

Viachaslau’s commitment to fair and transparent dealings has fostered long-term partnerships with over 20 contractors, many of whom have been with him since the early 2000s. This network of reliable partners has been crucial to his business’s sustained success, especially during challenging times.

“Business is not just about transactions; it’s about people,” Viachaslau shares. “When you treat your customers, suppliers, and employees respectfully and fairly, you build lasting relationships. These relationships are the backbone of a successful business.”

Viachaslau’s ability to build and maintain strong relationships has set him apart as a unique leader in the retail industry. His personalized approach, expert knowledge, and ethical business practices have earned him widespread recognition and respect. In a world where relationships are often undervalued, this story is a powerful reminder that success is built on trust, loyalty, and a genuine commitment to the people who make a business thrive.

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