Terry Pickard, Crisis Survivor

By Anna Stepanenko

As the recession still shows no sign of abating, the financial crisis remains a major concern in today's Ukraine. Chronic worries and fears shake the country mired in a severe economic recession aggravated further by political uncertainties. The sage say: 'Hope dies last'. Still sager people argue: 'Hope never dies'. That makes perfect sense as some businesses not only manage stay alive and kicking but continue prospering amid the current turmoil. 

A resilient person must regard recession as a "blessing in disguise" leading to new prospects. Terry Pickard, NAI Pickard Group Chairman sets a great example of surmounting the dismal crisis.

QUESTIONS

CRISIS TALKING
Q. Despite these tumultuous times your company signed a contract for concept development of a shopping and entertainment center in Kharkiv to mark the closing of the stressful year 2009. When the entire country is in the grip of an economic decline, this sounds challenging, but rather risky. Do you already have similar ambitious plans for the 2010 year?
A. Living in Ukraine for a long time obviously makes anyone a bit superstitious. Superstition is one of Ukraine's national character traits. Therefore I never talk about anything before it starts happening otherwise you will endanger success. However, I can say that now we are working on quite a big project that involves selling the old headquarters of a client that moved to another place. The New Year starts and we keep things going anyway.

Q. Few companies can do without reducing staff today. But if a company continues employing people it is a very good sign indeed. It feels like crying out 'hi, we are still here growing and coping with economic troubles'. Is your company still hiring new employers?
A. With the economy brought to a halt, the inevitable is happening: company's cut corners to stick to their budget and massive layoffs sweep the country. The unemployment situation looks extremely gloomy. Even in international renowned companies the process goes on and on a large scale - 15 people are out, while one person is in. These are horrifying figures.  
Therefore I can proudly say that we ended the 2009 year with just two people fewer and we have hired a new employer even this month. The worst is over for us.

Q. How would you describe a phenomenon of crisis in general? What does it mean to you?
A. With each crisis we get stronger and tougher. We learn a lot from each economic recession we have to go though. It is absolutely true that a crisis brings or highlights new opportunities for the company and makes us see where we are the strongest and best. When combating a crisis, we refocus and restructure our business. Apparently, it takes time and effort to restructure your business, yet it will fill the bill. For instance, today we primarily focus on offering all types of property valuation services to our clients. See, presently people hardly lease or purchase property yet they want to have it revalued anyway. So, here we are - a reliable team of experienced experts doing their work.

Drawing business reveals other promising prospects. Last year a whole team moved from another company to join us. It has helped us set up and develop a retail consultancy department. Furthermore, we run training schools as well as a separate company specializing in accountant solutions. It is not the end of the story - NAI Pickard provides business advisory and work/residence permit services. Switching to another activity facilitates retaining and even enhancing your whole business. To our benefit the crisis has made us structurally different from what we were.

Q. You have been running a real estate business in Ukraine since 1992. Your business has been evolving with the nation and you have been through many economic ups and downs. You are not a new player in the 'crisis game', are you?
A. Since that time I have witnessed, suffered and overcome three crises in Ukraine. The first slowdown was caused by the notorious Russian economic crisis of 1998. You know they say if Russia sneezes, Ukraine gets a cold. The second one broke out as the Orange Revolution aftermath. The current crisis is the third and worst one. My personal view is that this year it will start getting even worse.

Q. Within all these 18 years spent in Ukraine have you ever felt like giving up, packing your suitcases and going somewhere else? When was the hardest time for you personally and for your company?
A. This is the hardest time I have ever had. The first crisis of 1998 was mainly CIS-based. The second recession was local and lasted only six months. Yet now the crisis has spread worldwide with everybody badly hit everywhere. Frankly speaking, right in mid-2009 I felt like giving up. But I have nowhere to go. I have to stay and continue my business here. Perhaps this idea helps me overcome current obstacles.

Q. Two years ago you said there are two main reasons why more foreign investors are interested in the Ukrainian property market. Quote: 'First is that after the Orange Revolution [in 2004], the Eurovision Song Contest in 2005 and many others sport and cultural events that raised the profile of Ukraine, people became aware of Ukraine as a market. Then, of course, is the massive increase of the money that institutions want to put into property in Ukraine.'  What do you think may attract foreign investors to Ukraine now? What benefits can the country offer them today?
A. Everybody knows perfectly well that Ukraine boasts magnificent resources and huge potentials that, if managed and used wisely, can make the country rich and prosperous. Why can't Ukraine be Europe's China? The question still remains unsolved due to political mess.

BUSINESS TALKING

Q. Once you enter the NAI Pickard headquarters on 9 Prorizna, your attention is immediately arrested with the inscription on the front wall behind the reception desk - 'tough times don't last, but tough people do!' Is it a motto for your business and life?
A. Yes, it is the principal motto I always follow in business and life. There is the other one I also adore and adhere to - 'when the going gets tough the tough gets going'. There is no need to change this motto as it applicable to any situation, let alone a turbulent time.  My vast experience of working here shows that being tough and resolute pays off.

Q. Last year, despite the overall turmoil, you received a 5-star European Property Award 2009 in the category "Best Commercial Property Agency, Ukraine".  You said of winning the award: 'It shows that being entrepreneurial and aggressive in difficult times pays off when the going gets tough the tough get going.'  Is there any other award you long to get?
A. Perhaps it sounds harsh, but I do not care much about rewards. It is like a sign of approval from somebody somewhere. Of course, we will work hard and do our best to try to win this award again in 2010. I know that NAI Pickard is surely among top the five property agencies in Ukraine. However, the best award is our customers' complete satisfaction.  Reputation is better than any nomination.

Q. What are other exemplary achievements you have attained so far? What is it you are especially proud of?
A. The simple thing is that we have survived whereas a number of international companies have significantly scaled back their activity. This has been the greatest achievement so far. I am proud of having survived turmoil.Q. What do you value in work and in relationship? 
A. Loyalty is the thing I personally value above all. It is loyalty you desperately need during hardship.   Since we started our business, our staff turn-over has always been very low. Few employees have left us. How do I retain them? It is simple. Apart from paying all salaries and bonuses on time, with no delay, I do respect and value people I work with. Furthermore, our first office was opened upstairs on the same street, 18 Prorizna. We show loyalty even to our headquarters place.  

LIFE TALKING

Q. Is there anything apart from the crisis that frustrates or upsets you, a British expatriate, about living in Ukraine?
A. Rules for obtaining a work permit are getting stricter and more intricate. I ought to bring along all my diplomas and certificates translated into Russian and confirmed by a local notary officer. What aggravates the situation is that all translated certificates should bear original signatures of those who issued them in Britain a long time ago. Many of these people are long dead whereas universities I had graduated from changed their names. It is ridiculous. Especially when you come to think of a foreigner who has been on Ukraine's market for almost 20 years bringing millions of dollars in the country's economy.  

Q. What impresses you most about living in Ukraine? Can you give key five traits to describe the Ukrainian national character? 
A. I like Ukrainian women. They are wonderful, amazing, hard-working, loyal and honest. You can completely rely on Ukrainian women in business and life. Currently our Board of Directors comprises two men and two women, which speaks for itself.

Q. You have become a noticeable figure of the international business community. You are a member of the Board of the European Business Association, Member of the Committee of Foreign Investment to Kyiv, Director of the Primeros Property Fund GP, Past President of the charitable 'Kyiv Lions Club' and Chairman of the 'Ukrainian Connoisseurs Club'. What is the next committee, association or club you aspire to join or lead? Or perhaps you want to launch another business?
A. Kind of. I love and know food. I love cooking and experimenting with new recipes. It is my hobby. I have tried a great variety of cuisines and delicious dishes all around the world. Being a big fan of Italian food and wine, I nonetheless try not to stick to some particular cuisine. A widespread opinion is that food in England is traditionally horrible. It is not true. Therefore I dream about opening a unique restaurant in Kiev one day to show people that good English food does exist.

Q. What is your cherished dream?
A. I dream about purchasing a cozy lovely house, boasting all facilities I need, in southern Italy to enjoy my retirement to the fullest while savoring picturesque views and beauty of Nature, cooking tasteful meals and drinking delicious wine.

SUCCESS TALKING

Q. Here comes a trivial yet crucial question - what do you think is a key to your success?
A. Determination. Last year we were financially strong to go through all losses inflicted by the economic recession. Now we are again financially strong. What else contributes to my success? Yes, I should be aggressive and competitive like all market players, but first thing I am honest and fair. And it pays off. Because what comes around, comes around.

Never forget your roots. This firmness and bravery are most likely to run in Terry's blood since he was born near Warwick, the site of the famous Warwick Castle, and Stratford-on-Avon, Shakespeare's birthplace. Quite naturally he is a real warrior who fights off all troubles and finds proper solutions to pressing problems. He is a poet who believes in people and awaits changes for the better. To top it off, as a true gentleman he never says - 'oh, these bloody Ukrainians'. He IS a survivor!