BY DOLA ADESANYA||
At age 36 and with a net worth of $1.3billion, Maxim Nogotkov, is ranked amongst the world’s youngest billionaires of 2013 by Forbes. With an entrepreneurial journey that began at age 12, Nogotkov started selling computer software on borrowed money. “I needed money but my parents didn’t give it to me as they didn’t believe in the success of the enterprise. Well, I borrowed from a friend. So I carried out my first business trial on borrowing cost” – Nogotkov said
Though his parents did not believe in the success of his enterprise, Nogotkov never got discouraged in the pursuit of his dreams. Within a few months of selling software to BK-0010 computers and installing caller ID devices, Nogotkov had enough savings to start the business of selling cordless phones.
By the time he graduated from high school, Nogotkov had already established himself as a successful entrepreneur. In 1993, he attended Bauman Moscow State Technical University but dropped out in 1995 to pursue his entrepreneurial dream. In 1997, Nogotkov attended Moscow International Higher Business School where he later earned an MBA in marketing in 1999.
Soon after dropping out of College, Nogotkov founded Maximus in 1995. In 2000, the company began wholesale trading of cell phones and in 2004, Nogotkov changed the company’s name to Svyaznoy. In the same year, sales reached $663 million. Today, Svyaznoy is Russia’s second largest cell phone merchant with over 2,400 outlets and over $5 billion turnover.
In 2010, Nogotkov founded Svyaznoy Bank to which he serves as the Chairman of the Board of Directors. The Bank is the first project in Russia’s financial market to successfully utilize a wide infrastructure of cell phone retailers for the bank’s distribution systems. Now Nogotkov aims to make it the number one credit card bank in Russia. In the same year Maxim Nogotkov obtained a franchise to open a chain of Pandora boutiques, an international jewelry company operating within the popular market segment of ‘affordable luxury products’. In 2011, Nogotkov was named Entrepreneur of the Year by Ernst & Young.
For young, would-be entrepreneurs, Nogotkov has this to say “start as early as you can! When most of my friends visited clubs and discos on Saturdays and Sundays, I spent my days working and planning for future.”
Maxim Nogotkov exemplifies how important it is to plan for the future at an early age. In the face of obstacle at age 12, Nogotkov remained fervent. Indeed, Nogotkov has shown how fortunes can be made from being passionate about one’s dreams!
Dola Adesanya || is an astute lawyer with a good business acumen. She loves everything motivational.