As part of the Morning Lazziness series about empowering women who encourage and do incredible things with their ideas in society, I had the pleasure of interviewing Ekaterina Balanovskaya.
Ekaterina Balanovskaya is the CEO of Business Booster. She received two awards from this international forum of businesswomen: “BUSINESSWOMAN OF THE YEAR 2021” and “TOP 100 SUCCESSFUL BUSINESSWOMEN OF THE WORLD RANKING”.
Ekaterina Balanovskaya is not only a businesswoman who leads the international company and develops it worldwide but also a mother of an infant. Combining roles of a mother and a leader Ekaterina Balanovskaya continues to broaden the impact of Business Booster.
Here’s what we found out about Ekaterina’s daily routine, followed by an exclusive Q+A.
Can you share the story behind your journey as an entrepreneur and what inspired you to start your own business?
My professional career began in 2011 as an ordinary employee at Visotsky Consulting, which has now transformed into a Business Booster. In the first week of work, I approached the branch director and asked what I needed to do to become her deputy. She answered: “Learn, show yourself and results”. It inspired me.
The first year I was engaged in PR and interaction with partners, then I became the head of the development department, and later — the director of development. In 2015, I became the head of the Kiev branch, which I successfully developed for 6 years, annually improving performance by 30-70%.
In 2020, I transferred the management of the branch and headed the Business Booster marketing company. During this time, we have increased revenue and efficiency several times. What inspires me is the constant pursuit of growth, achieving high results and creating a team that sees shared success as its own.
What challenges have you faced as a woman in the business world, and how have you overcome them?
When I started developing a company in Ukraine, one of the main difficulties was overcoming stereotypes related to both my gender and age. A young, beautiful girl in the business world is often perceived as someone who lacks seriousness and experience. At first, I was faced with the fact that my partners and colleagues did not always take me seriously. There was a feeling that I had to prove my competence and professionalism more than, perhaps, my male colleagues.
But I quickly realized that the most effective way to overcome these barriers is not to prove something with words, but to show it through actions. I actively invested in my development — I constantly upgraded my qualifications, took courses, attended trainings, and participated in conferences. It gave me deep knowledge and confidence that others began to notice.
The environment has become an important aspect. I consciously formed a team of people who believed in me and supported my ideas, which helped me withstand external pressure. Thanks to their support, I felt more confident in any situation.
Today I see that the stereotypes I faced in the beginning made me stronger. I am grateful for these challenges because they have taught me perseverance, flexibility and how important it is not to lose self-confidence, despite external prejudices.
How do you balance your professional and personal life as an entrepreneur?
I always believe that balancing professional and personal life is not just a task, but an ongoing process that requires flexibility and self–discipline. Business success requires focus and energy, but to be effective in the long run, it is important to maintain a balance, otherwise you can burn out.
Here are a few principles that help me:
- Clear planning: I try to separate work time and personal time by creating boundaries. It is important to plan not only meetings and business tasks, but also family and leisure time. Priorities are set both on the work and personal front.
- Delegation and trust in the team: The key to effective management is to trust your team. I do not try to control every process, but rely on the professionalism of my colleagues. This frees up time for personal matters and reduces stress.
- Self-development and rest: I am convinced that in order to be a successful leader, you need to find time to restore energy. Sports, hobbies, and time with my loved ones help me maintain balance and stay productive.
- It is important to remember that business is a marathon, not a sprint, and for long–term success it is necessary to maintain a balance between personal and professional life.
What strategies have you found most effective for networking and building connections in your industry?
Regular participation in industry conferences, seminars and forums helps not only to stay up to date with the latest trends and technologies, but also to create and strengthen ties with key industry players. Personal presence at such events provides a unique opportunity to establish contacts and exchange ideas. The founders of the company regularly speak at major forums as speakers, which gives potential customers and partners the opportunity to get to know us and our product more.
How do you approach mentorship and seek guidance in your entrepreneurial journey?
I deeply believe in the value of mentoring, both for personal and professional growth. As an entrepreneur and CEO, I believe that it is impossible to know everything, and that is why mentoring is one of the key success factors. I am always open to new opinions and gratefully accept advice, because they make it possible to avoid mistakes and find non-standard solutions in business.
Can you talk about a specific setback or failure you’ve experienced in your business and how you bounced back from it?
There was a situation when a key executive worked in our company, who worked for about a year. At first glance, the results of his work were positive, but problems began to appear within the team. This man was toxic, and although he achieved his goals, his behavior destroyed the atmosphere in the team. The team began to lose motivation, and conflicts arose, which ultimately affected work efficiency.
It was not an easy decision for me, because at that time there was no obvious replacement candidate. However, I realized that continuing to work with such a person means risking the entire culture of the company. I made the decision to fire him. The dismissal was not easy: he left in an ugly way, without handing over the case and creating additional difficulties for the team.
At that moment, I took over his duties, went “down” and began to understand the situation on the spot. A lot of things had to be rebuilt, re-organized and looked for the right solutions. It was a difficult period, but it showed how important it is to respond to such challenges on time. I hired a new manager who not only fixed the situation, but also took the department to a new level. We were able to build a strong and motivated team, which led to even greater success.
This story has taught me a lot. I realized that sometimes you need to make painful decisions for the sake of a long-term perspective, even if at the moment it seems like it’s a step back.
In what ways do you prioritize diversity and inclusion within your company or startup?
Diversity and inclusivity are not just important values, but critical elements for a company’s long–term success. Creating an environment where every employee feels respected and involved contributes not only to better productivity, but also to the development of innovation, which is extremely important for international business.
How do you stay motivated and resilient during tough times in your business?
Maintaining motivation and resilience in difficult times is a key factor for long–term success, especially in business. It is important to understand that difficulties are inevitable, and as a leader, I must not only maintain internal motivation, but also inspire my team. Being aware of the company’s goals and values helps you stay focused and motivated, even when it seems that the obstacles are insurmountable. Instead of viewing problems as defeats, I try to see them as opportunities for growth. It is important to remain flexible and be ready for changes. Sometimes difficulties give you the opportunity to rethink your strategy and find new ways to achieve success. In difficult times, I rely especially on my team. Success is teamwork, and the support of colleagues, the exchange of ideas and joint work on solving problems always energize and help move forward.
What advice would you give to other aspiring women entrepreneurs who are just starting out?
For women starting their entrepreneurial path, there are several key tips that, in my opinion, can help not only overcome difficulties, but also confidently build a business based on their goals and values:
1. Believe in yourself:
Women often have to face doubts, both external and internal. My first advice is to trust yourself and your decisions. Self—confidence and the ability to overcome barriers are the foundation of success. Everyone has unique abilities and skills, and it is important to remember that you deserve success on an equal basis with any other entrepreneur.
2. Don’t be afraid to take risks:
Entrepreneurship is always associated with risks, and sometimes it can be scary. But it’s important to remember that mistakes are part of the learning process. It is not necessary to postpone actions, because all conditions are not ideal. It is better to start, even with small steps, and learn from practice.
3. Build a support network:
One of the key success factors is the environment. Create a support network, whether it’s mentors, colleagues, or other female entrepreneurs. Communicating with like-minded people will help you share experiences, get advice and support in difficult moments. Feel free to ask for help when you need it.
4. Set ambitious goals:
Don’t limit your ambitions. Very often, women can underestimate their goals for fear of failure. My advice is to set bold goals and strive for more. Believe that you have everything you need to reach these heights.
5. Manage your time wisely:
The balance between business and personal life is especially important. Find time for yourself, your family and rest. This balance is not always easy to maintain, but regular planning and prioritization will help to avoid burnout and maintain productivity.
6. Seek funding and resources:
Women often face difficulties in finding investments and resources for their business. It is important to be prepared for this, to explore all available sources of funding, grants and support programs for women entrepreneurs. Don’t be afraid to present your ideas and prove their value.
7. Support other women:
It is important not only to receive support, but also to share your knowledge and experience with others. Mutual assistance in the business environment creates a strong community that can significantly change the path of women in business.
The main thing is to keep faith in yourself, be persistent and brave. The world of entrepreneurship requires fortitude and determination, and every woman is able to overcome any obstacles in her path.
What is one quote you live by that has guided you in your entrepreneurial journey?
My slogan is “the impossible is possible.” I know for sure that if I want something, then the strength of my intention and desire will definitely help me realize it.
The second is “Just do it” (*just do it). The most important thing is to understand why you need it and do everything efficiently even when you are not being checked. After all, when you look at the company as a whole and realize that a lot will depend on your results, then you do not agree to anything less and are demanding of yourself and your work.
Can you share a memorable success or milestone that you’ve achieved in your entrepreneurial career?
One of the most memorable successes in my career is associated with the growth and transformation of our company. When I started my journey at the age of 14, we were a small company with big ambitions and goals. One of the most significant milestones was our expansion to the international level. The company has transformed into a Business Booster accelerator with offices in the USA and Taiwan, providing programs in English, Chinese, Ukrainian and Russian. 10,331 companies from 87 countries have implemented elements of the Business operating system, $3 billion customer turnover, offices in the USA and Taiwan, 250+ niches.
