chronicler Vasil Garbov

In this episode you will see:

1. Risk Management

2. Budget planning

3. Managing the most precious resource - time

4. Hiring

Chapter I

My mentor, Todor, and I were commenting on how I am not good at managing risk levels when I take on another operation/silliness/provocation/success on my part.

Realistically, I have an affinity for risk for a number of reasons. I do life-changing things quite often, not so much for the end result, but for the adrenaline rush of the process. 😀 (I kid you not).

So the case of Nova Era is no different. I mean, while seemingly not that special or risky, the business does have risks. For me they are mostly related to the customer:

- Whether he will remain satisfied from the beginning to the very end;

- Whether we will keep our commitments;

- Whether they will pay us (not much of a deal if they don't, I have experience 🙂 )


Clearly, without risk there is no reward. The cool thing about the business model is , almost literally it's all hazards.. well let's not rule out some crazy guy who doesn't have a job and decides to sue us (it happens, I have friends who have been victims). What we don't have to worry about:

- Not paying rent for now (won't have to anytime soon);

- No wages/insurance being paid (won't have to soon, but will be paid in some other form, we'll find out in point 4);

- Almost no software is being paid;

- No excess money is being invested in Marketing (for now, don't judge me that's the model);

- Abe not bad overall, mostly taxes are paid, but let's say the profit for me as founder and principal would be around 60-65%

Chapter II

What is my life philosophy for managing a budget, and my personal finances? I have a few friends who are financially uplifted and quite often give me advice that is correct of course. 

However, I follow an ideology that I believe does not burden my mind and life as other practices would, and has been tested from an early age in other forms - I do not strive to cut back to the extreme, save to the extreme, do my math to the extreme, but strive to earn more. I STRIVE FOR MORE.

This way I think (I've been doing it for years and it works pretty well) I don't put psychological barriers, for example: 

I've earned 100lv this month, I'm not going to eat out to save 60lv at the end of the month. WELL NO, I'LL EAT AND DRINK LIKE A SLOB AND BREAK MY S*** TO EARN 180LV AND SAVE 100.

That's the thing about personal funds. Let's look at the budget. Again my life and now professional philosophy, after all I have a few people behind me now who hold official Merchant/Dealer positions in New Era, but also the moral and operational sub-plot <3. 

So there are more such motivated beings to come. What is the most important? That they are happy and feel important, but most of all that they are worthwhile and MAKING MONEY.

The expense budget should not be minimized, but on the contrary invested and in a team, because when the team is happy the business will be too. I'll tell you why in a moment.

Chapter III

Time management is definitely a big problem for me. Recently, I decided to pay more serious attention in this direction by coming up with the following scheme. I literally made it up, I didn't find it ready alas, and I think following a certain routine just because "SUCCESSFUL PEOPLE" follow it and so should we, seems impractical.

Everyone should make a plan according to their values, ambitions, goals, free time and LIFE. What did I do?

Instead of limiting myself to a schedule with an exact time, I decided to make it a little more fluid, because literally day to day doesn't seem to fit and it's pointless to fool ourselves into thinking that if our parrot Stoyan died today, we'd be motivated for big biznis... Seems something like this:

06:00 - 09:00

- Morning routine

09:00 - 12:00


12:00 - 15:00

- Bite to eat, drink to drink
- Work concurrently on my Full-Time duties and New Era

15:00 - 18:00

- Working concurrently on my Full-Time duties and New Era

18:00 - 21:00

- Bite to eat, drink to drink
- Working concurrently on my Full-Time duties and New Era

21:00 - 00:00

- Working concurrently on my Full-Time duties and New Era

The conclusion that changes lives is - To succeed at anything you have to be a "- SUCK YOUR Z***KA ASSHOLE", anything else is excuses and justifications for the failure you will have if you don't. 

Literally the whole world revolves around that and all the peaks conquered are because of that. Sure a lot of work makes you hunchbacked, but if it's in the right direction I think that's the way to go.

And the last point in question - Hiring

You could say this process is already in place, I need a few more weeks for it to become official. What kind of people would I need stage by stage:

Stage one:

- Traders

Second stage:

- Web designers

Stage Three:

- Web masters/tile makers

That's it for now.

How will I pay them? Per job done - commission from each project they are involved in. This is relevant for Tradesmen as well as Designers and Masters.


- No need for capital to prepay salaries;
- No need for ongoing payment of social security, upon entering into a civil contract, it will be deducted from the percentage wage;
- No one will be burdened with permanent commitments to New Era (which may not be very positive, but for now is not a problem);
- Most of all, everyone will be motivated to work because they'll be getting a solid percentage and will therefore be ambitious about taking on more new ones.


Share them, in your opinion.