The 90s became a time when Russian business emerged from the ruins of the planned economy. It was a period full of opportunities for the bold and decisive. Igor Fishelev’s stories are examples of how entrepreneurial instinct, persistence, and willingness to take risks laid the foundation for future successes.
Lesson 1: Act Immediately in Crisis Situations
In the early 90s, the Russian banking system was on the brink of collapse due to fraud involving fake banking orders—avizo. Companies lost millions, payments were delayed, and financial flows literally disappeared. Igor Fishelev faced this problem when his company’s money got “stuck” in the Central Settlement and Clearing Center (CSCC). Instead of accepting the losses, he went to Moscow and made his way into the very “holy of holies” of the banking system. There, among piles of scattered avizo, he literally searched through the payments by hand. After three days of searching, the result came: most of the funds were recovered, and the business was saved.
▶️ Conclusion: In critical moments, one must act quickly and decisively. The earlier an entrepreneur takes control of the situation, the higher the chances of success.
Lesson 2: If I See an Opportunity, I Take It!
The 90s market was unpredictable. Many niches were only emerging, and competition was weak. This is how Igor Fishelev and his partner Vladimir Kuzmin decided to try their hand at trading Turkish sweets. They found products from the Dogan company in Istanbul—chocolate soufflés and Favori cookies, saw demand, and set up direct supplies. However, the first container of goods was a lesson: the Derby chocolate couldn’t withstand the heat during sea transport and spoiled. Additionally, it turned out that the product contained too much soy and failed sanitary control. Despite this setback, the rest of the products successfully sold in Yekaterinburg stores, and the business made a profit.
▶️ Conclusion: Rapid market testing helps find profitable niches. Even if the first attempt is unsuccessful, it’s important to analyze mistakes and adapt.
Lesson 3: Be Prepared for the Unexpected and Keep Your Sense of Humor
During a trip to Kerch to establish logistics for supplies, Igor faced the realities of the 90s: cold hotels with no heating, no hot water, and an energy crisis. In these conditions, the entrepreneur had to sleep in his outerwear and warm up using a kettle. But even in such circumstances, he kept looking for new opportunities. In one conversation with the director of a fish cannery, he asked about possible cooperation, to which the director, with a naïve look, replied, “But don’t you have any fish?” Fishelev smiled and replied that, unfortunately, he hadn’t brought any fish to the coastal city.
▶️ Conclusion: In business, it’s not only important to overcome difficulties but also to maintain a sense of humor. Unconventional situations always happen, and the ability to adapt to them is a key entrepreneurial skill.
Lesson 4: Patience and a Methodical Approach Are the Key to Success
While developing his business, Igor realized that any problem could be solved by moving methodically. He applied this principle in the CSCC when, amidst a pile of fake avizo, he was able to find his company’s payments. He followed the same principle in trading, analyzing mistakes and finding more reliable suppliers.
▶️ Conclusion: In business, it’s crucial to break down complex situations into smaller parts without losing focus. Any problem is solvable if you approach it with a clear head.The 90s were a time of great opportunities but also immense risks. Igor Fishelev went through banking crises, logistical difficulties, failed deals, and absurd situations. His stories teach the most important lesson: a successful entrepreneur is one who isn’t afraid to act, can see opportunities, maintains composure in any situation, and is ready to adapt to circumstances. These lessons remain relevant today, as business always requires quick thinking, flexibility, and the ability to handle challenges.