Maxim Behar in the business podcast "What Money Can Do"
Maxim Behar, CEO of the PR agency M3 Comminications Group In. participated in Dir.bg's business podcast " What Money Can Do " with host Stefan Kunchev. The PR expert shared his opinion on the change in doing business in 2022, as well as the future of business in general.
Host: As I was preparing for today’s edition, I came across your confession that one of your favorite life rules is “If your dreams don’t scare you, then they’re not big enough.” What was your big dream this year, and did it come true?
Maxim: My dream this year was to do my job well, have a good team, get along with my colleagues, keep my clients happy, and have my kids love me. All this came true in a bunch. Even though this year, I’m now 28 years in business and 15–16 years in journalism before that, this year has been the most challenging year to do business at all, primarily because of three factors. The first, of course, is the “post-Covid” situation. We’ve had the post-COVID, various troubles at home, the pandemic, etc. However, it passed. We didn’t know how it would pass; we didn’t know if it would pass at all or what would happen. The second factor is the war and all these war-related consequences — inflation, shortage of raw materials, and nobody making chips. The third factor, however, is more long-term: the new generation coming into the market—Generation Z, or as I called it in one of my books, Generation F. The new generation that’s come on the market is between 18 and 24.
Host: What kind of factor is this now showing up on the market? In what sense are you talking about this generation? How do you see it as someone who is in business and knows about social media?
Maxim: These are young, intelligent people, very well-educated, quick to fix, quick to react, who have not had any difficulty in their lives. Never, on any occasion. They don’t remember hyperinflation, the brutal winters, or even the crisis of 2008–2009. These are my colleagues. We try to train them on corporate standards, work attitudes, and customer attitudes. These young people are quickly learning a profession, but they do not care very much whether it is their profession or the other or the third; they have a completely different value system.
Host: Let me interrupt you because you say it is “good news” that they have not gone through these difficulties; however, to take you back to what you said a moment ago — “This is one of the most difficult years.” Well, it is not just difficult for you; it is difficult for everyone, including this generation. How will these people cope without any preparation in a difficult time?
Maxim: This year, as difficult as it was, did not reflect so much on society in Bulgaria. Inflation, yes — 15–20%, we’ve never experienced anything like this before. Still, it’s not some shocking difficulty for a young person whose parents support them because now they are just starting a business. It’s not a big drama, whether spending more money on a restaurant or buying one less loaf of bread a week.
Host: You mean the primary inflation measure for this generation is their family?
Maxim: Rather, they feel this difficulty, but not as we have supposed the problems in the past years. I hope that in 2–3 years, this generation will come up to speed very quickly. But, these three factors that met in 2022 created difficulties for me. On the other hand, they showed who can do how much. I have a friend who now runs a huge IT company, but he was a sailor when he was 20 years old. He graduated from naval school, and he wanted to shine. He went to the captain daily to ask if he was any good. At one point, the captain got fed up and said, “Wait until the first storm comes, and I’ll tell you.” Then you see when there is a tough year, a storm that you have to overcome, or when you have to get out of a tricky situation, and then you see who can do how much. In that sense, difficult years make good people.
Host: The year with the storm has come. As a globally recognized PR expert, can you identify the events that are an absolute success or failure globally in 2022?
Maxim: It was filled with great regret, with many more failures than successes. I don’t divide it into pessimism and optimism; this is the situation, the accurate picture. I have already said about the war. What happened in Bulgaria cannot be optimistic and cannot be positive. We have not been able to form a legitimately elected government after a highly complex scheme of compromise with a fragile coalition has fallen. We still do not have an elected government…
Host: However, you know what, I’m listening to you very carefully… You said a moment ago about the generation that is very highly educated. Well, this government that fell at the beginning of the year was again of people who are very well educated and where they need to be…
Maxim: Yes, I was, unfortunately, a big fan of these young people who had a good education and probably practical experience, too. But they couldn’t cope in the jungle of complex relationships on the Bulgarian political scene. There, you have to have a bit of compromise and more long-term vision. I cannot analyze why this government fell, but the fact is that it failed to do what we had high hopes for. To change the market in Bulgaria, to be able to fight inflation. After all, I have a degree in economics and am in business from morning to night. I have the feeling that the package of anti-inflationary measures that have been imposed has worked in the opposite direction and has increased inflation. I do not want to go into a subject that is not entirely mine, but the results are what they are.
On the other hand, internationally, the war, the complicated relations… There was, however, good news in Bulgaria. Georgi Gospodinov’s novel “Time Shelter” was published in over 20 countries.
I follow Georgi Gospodinov closely. It was and continues to be an extraordinary promotion of Bulgarian culture. Maria Bakalova was nominated for an Oscar and did some outstanding projects. Ruth Koleva signed with Warner Brothers. Polly Genova made an excellent Christmas album, which I think is world-class. I was one of the first to hear it. In culture, as much as we blame ourselves and say “Balkan culture,” many people came out and did something good. In business, we have several companies on international exchanges, one for EUR 280 million on the Frankfurt Stock Exchange. I have known a Bulgarian company since its foundation, which had 5–6 people in the company when I first saw them. Now they have over 1000 people. They produce very sophisticated smart home devices and own 40% of the German market. Bulgarian company! It’s all made in Bulgaria and China; however, it’s sold everywhere. All technology development is happening in Bulgaria. Several such companies are very successful. So I think they give mobilization, especially to business, maybe they spoil the politicians. In business, we are focused and purposeful; we change our values and priorities.
Host: Now let’s talk about 2013, which was generally one of the good years the world was in. In general, after the 2008 crisis. Then, you were elected chairman of the Davos PR Forum. Do you know Klaus Schwab, the founder of the World Economic Forum?
Maxim: Yes, I know him. We had good meetings with him. He wasn’t pleased that we were doing a Communication Forum on the back of the World Economic Forum because we did it right after. So that all the company spokespersons and PR experts can also join our forum. When it turned out that he wasn’t so happy with that and just wanted to operate at that time, we started doing our forum a few months later.
Moreover, we have PR experts coming to us from all over the world, and, for example, our colleagues from Africa were very cold in Davos in February, so we decided to do it later in April. Unfortunately, we haven’t done a forum for three years, but now we plan to get together again in April 2023, as this year, we had the ICCO Global PR Awards live again after a three-year break. Before that, we had our PR Summit in Dubai live again for the first time in three years. Life and personal contacts are returning, but the value system is changing completely. For example, we did the forum three years ago, and I always said how much money we saved. Hotels, transportation. The online forum was very successful because we recorded everything, and then it was posted on the website so everyone could see it and download the recordings. There are advantages and disadvantages.
Host: We got there because of Covid, didn’t we? And to bring the subject back to Schwab. Have you read the new book “ Covid-19: The Great Reset “? What did you think of that book and the ideas it promotes?
Maxim: He doesn’t give a beautiful picture of the world. But I agree with his thesis that business is changing its values entirely and that post-Covid, we will see an altogether different company. During the pandemic, I wrote a book I can’t compare with Klaus Schwab called “The Morning After,” which analyzed everything that happened. Yes, I think everything around us has changed; we have changed, and we don’t feel it because we are in the forest and can see the trees around us, but we can’t look at the trees outside. But if we stop for one day and go back ten years, my business had nothing to do with what it is now; I had nothing to do with what I am now. We’re far more pragmatic, we’re far more results-oriented. In that respect, all this hysteria about the pandemic has been very sobering for business.
Host: I want to return to your book, “The Global PR Revolution,” which has become one of the world’s best sellers in this field. Who’s the most famous reader for whom you’ve autographed the book?
Maxim: It was released in late 2019 in America and a few months later in Iran, which surprised me. I have no recollection of who’s the most famous; I’ve given it to presidents, I’ve given it to kings, I’ve given it to whoever. I think the most valuable reader I’ve signed it out to is a friend of mine, Paul Holmes. He is probably not such a famous person, but in our circles, Paul Holmes is a great, unreachable man. And he wrote the foreword, which is on the back cover. He’s someone I’ve learned an awful lot from. I value my business colleagues the most because they will understand it. Inside, there are the opinions of 100 experts from 65 countries. It gives a complete picture of what’s happening in the PR business worldwide because I think our company is one of the main drivers of change in the world right now — social media.
Host: In Bulgaria, you are a member of the Board of the Bulgarian Business Leaders Forum. Does this mean that these are the wealthiest people in Bulgaria?
Maxim: No, not at all. I am one of the founders of the Forum. We don’t look at who is rich. It was founded in 1998 by Prince Charles, now King Charles III, with one purpose — to encourage ethical and honest business in Bulgaria. He showed great interest and then came to Bulgaria. With us, the most important thing is to be transparent.
Host: And since we’re on a business podcast called What Can Money Do? Can you give us a definition of a rich person in Bulgaria?
Maxim: A wealthy man knows how to invest money in an even more successful business. Today, everyone is a leader. And I’ll relate that to money. A good leader knows how to make his customers and colleagues happy. When you have horizontal management, my colleagues work well and give good service to our customers. I work well so that I can manage my colleagues. A rich man earns good money but also knows how to invest it.
Host: And as we talk about rich people, how did you take the news that Elon Musk, the wealthiest man, might visit Bulgaria?
Maxim: Nobody can assume that Elon Musk, who manages billions, manages his social networks, but even if he is, at best, he sees a picture of the Belogradchik Rocks on his profile and goes, “Ah, how pretty they are.” This is the most optimal, the best option. But that doesn’t mean he’s coming to Bulgaria, and suddenly some e-mails came… If he’s coming, he’s welcome. Of course, it was a made-up story. I want him to go because Bulgaria should be even better on the world map. And this is the job of several ministries because Bulgaria is not just a tourist destination. Bulgaria is an investment destination, Bulgaria is the people, Bulgaria is all of us. There are great people here with European values, young and intelligent, and they should be represented abroad. Bulgaria has neither a good logo nor a good slogan for the world. We also need a perfect vision for ten years ahead. Unfortunately, we do not have these things. I am optimistic, and I believe that one day, we will have them. Our country has enormous European value, and we must constantly show it.
Host: A moment ago, you mentioned the Seychelles. You are the Honorary Consul General of the Republic of Seychelles. It sounds very colorful, but what does it mean, and what does it give you?
Maxim: This allows me to get to know wonderful people. When I go to the capital city of Victoria, where there are 8,000 people, it means that I know everyone, and everyone knows me. These are great people, very ethical, very punctual. Seychelles has the most protected areas — 65 percent of the territory. I visit the islands four times a year, sometimes two times a year. I have a lot to learn; I enjoy working for this country. The capital of any country is the people. And if we present the people, thriving businesses, artists, athletes, and writers in our promotion of Bulgaria, that is our great strength.
You can watch the full video here.