BEHIND THE BUSINESS — a journalistic project about the experience of entrepreneur Nasib Allakhverdiev, who runs a business, owns a chain of stores, and is developing a restaurant project in Vladivostok.
The project’s goal is to understand how ideas transform into viable business models, which helps in assessing their commercial potential and the practical challenges entrepreneurs face.
How did the idea to start a business come about?
Entrepreneurial instincts were evident in me from childhood. I loved to think, trade, and outmaneuver others. What about today? I believe business starts with an interest in a specific field and the understanding that something can be created within it. Good cases typically emerge that way. I’m interested not just in coming up with an idea, but in turning it into a functioning project.
How to tell if an idea has commercial potential?
First and foremost, you must determine whether people have a need for the product and if they are willing to pay for it. Then, calculate the costs, potential profit, and study your competitors. Even a great idea is better tested in practice before investing a large sum of money. This is where many beginners fail.
Does engineering thinking help in entrepreneurship?
Yes, the engineering approach is useful because in business, it’s also crucial to understand how a system is structured and how its elements affect one another. I have had a mathematical mindset since childhood. I believe that one must first analyze the situation, examine possible solutions, and only then take action. Although, of course, in entrepreneurship, you can’t predict everything in advance.
What is the most difficult part after an idea emerges?
The hardest part is turning an idea into a functioning business. Expenses, organizational issues, the need to build processes, and finding people all emerge. Simultaneously, you must be prepared for the reality to differ from your initial expectations. In moments like these, the key is not to fail or to stop.
How to stand out from the competition?
You don’t necessarily have to invent something entirely new. You can stand out through product quality, service, usability, or customer relations. The most important thing is to understand your specific audience and offer them something that truly sets you apart from the competition.
How important are marketing and visual identity?
Marketing helps people learn about a company and understand why they should choose it. Visual identity is also crucial, especially in the restaurant industry: decor, interior design, and presentation shape the first impression. Frankly, the core of our work revolves around these factors. However, behind the beautiful image must always be a quality product, so our direction sometimes shifts.
What three things do you want to know about a potential partner?
First—what goals are they pursuing. Second—what each party is prepared to invest in the collaboration. Third—how much can the partner be trusted, and are they willing to honor their commitments. Without this, it is difficult to build a truly effective partnership.
What makes this partnership beneficial for both parties?
Each party must have a clear benefit. It is important to define overall goals in advance, distribute responsibilities, and agree on outcomes. A strong partnership is when companies amplify one another, rather than merely exploiting each other’s resources for a one-time advertisement.
What business mistake gave you the most experience?
I think one of the biggest mistakes an entrepreneur makes is overestimating their initial expectations and underestimating the complexities. Over time, you learn to analyze situations more carefully and not to be afraid of changing decisions when they aren’t working. The most important thing is to draw conclusions from experience and not repeat the same mistakes.
«Business isn’t just about ideas and opportunities; it’s also about the ability to analyze, make decisions, and learn from mistakes.»
In an interview, Nasib Allakhverdiev shares his perspective on entrepreneurship, discussing the importance of marketing, partnerships, and understanding the audience. This conversation demonstrates that behind every successful project are not only smart decisions but also a readiness to adapt to challenges.
