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For example, we were the only Bulgarian media to be invited to SIHH and Basel World – two of the main watches and jewelry exhibitions to cover the latest news from the industry. We were also the only local media to be part of and cover Women’s Forum, Monaco Film Fest, Panerai Regatta, and Apple WWDC.
I joined the family business in 2008. Back in 2005 I graduated from Babson College (Wellesley, MA, USA), known for its entrepreneurship program. The same year, I took a job with Shaklee International – a nutrition company based in Pleasanton, CA. In 2008, after 8 years in the US, I quit my job and moved back to Europe. In the beginning of 2009, I decided to take a break from work and moved to Paris in a day to learn French for the next 6 months.
In 2010, I started my first venture within the family business – an events platform, focusing on networking and entertainment for local and international young professionals in Sofia. Each event was visited by 200 to 500 people and our brand, Chic & Cozy International Events, quickly became popular.
In December 2012, together with another non-family member, I became the co-CEO of the company. Very soon I realized this was not the right step for me. Only five months later I decided to step down and to leave the business to pursue a different calling. My main objective was to live a healthier and happier life, while making sure that my family was not falling apart. In September 2013, I took an internship with another family business company in Singapore. My projects took me to Shanghai and around South-East Asia.
I returned to Bulgaria in March 2014. Inspired by my Asian experience, I really wanted to create a center for health and happiness. I imagined a different type of business with a new set of rules and values – with attention and affection to the customer, to the environment, to the employees and to oneself. For that reason, in October I changed my working lifestyle and accepted an offer from a new friend – a nutrition coach with a beautiful chocolate boutique, giving joy and wellbeing to her customers. To the already existing product portfolio, I added essential oils and soon healthy foods. Thus, little by little we are on our way to fulfill this new dream.
Leaving our family business was a tough journey – mostly emotional. I did not know how to handle a lot of the attachments and the communication. Today we are back to a happy family. My mother is still managing the business and I am following my path and passions. And my first customer is my family.
Can you tell us something about your background: Where and how did you grow up?
I was born in Sofia, Bulgaria. I grew up quite independent. My parents divorced when I was 10 and I had to take care of myself. I lived in many different places and changed several schools. When I was 9, my mother and I moved to Addis Ababa, Ethiopia, where my grandfather was a successful architect. From the age of 14, living mostly by myself, I had to grow up very fast. In my last year of high school, when I was 18, my mom, my step dad and I, moved to Palo Alto, CA. They returned back to Sofia and I continued my university studies in the US.
When and how was your family business started? Which generation is currently leading the business?
Our family business was started by my mother in 2004. She has always been very creative, full of ideas that might sound crazy to regular people. She enjoys new ventures and exciting projects that no one has dared to undertake. I was about to graduate and start my first real job. So after growing the profits of several international corporations, the time was perfect to try something on her own. Currently, the leadership is back to the first generation. After leading the company as a second generation member, I decided to return it in her hands and our other non-family member.
What is your first memory of visiting / being exposed to your family business as a child?
As I child, I used to enjoy going to my mother’s work place. When I was introduced to our family business, I was already 26. I was very excited to help and start working for our company. I felt I could make a positive change and a difference within the business and with our clients.
Can you describe the time when you were prepared to take over the family business? Were you explicitly prepared to take over the business? If yes, how? Is there anything you would have done differently in the transition process?
Going back through my memories, I am not sure there was a time when I wanted to lead our company. I was definitely not prepared. Of course I did not have the right experience, but I also did not have the passion for the industry my mother has. I could not see how we can be successful if we were to continue onto this path. It was not my path.
This was a painful process to figure out and realize. We did not talk at all about how we see the future of our company. We did not know how to talk. I was mostly emotional and she was mostly logical – two opposite styles and behaviors. Let’s keep working, keep going. But where? I could not see it. It did not make sense to me. I did not see myself as part of the picture.
I would have tried to talk through the issues that bothered me, although I was very inexperienced in this aspect. If I could go back in time I still would not know what to do.
Can you tell us about one challenging moment and one positive moment from the transition process?
My biggest challenge was communicating what I felt. I knew something was really wrong, making me very unhappy, sick and miserable but I did not know what it was and how to change it. Parents call this caprice.
The positive moment was when I decided to take a break and realize how to save my relationship with my mother first and then think what to do next in life. Any type of transition is difficult and painful, with lots of emotions, expectations and sometimes with disappointments. But every change brings something fresh, new and positive. Today, the two of us are friends again and fans of each other, with regained respect and gratitude.
Do you have a role model? If so who and why?
It is not the best idea to have a role model, because this means you want to be someone else and not follow your own path. In different stages of my life the figures I have admired and received inspiration from have changed. The first one I remember was the adventurism of Pipi Long stocking. Then it was the young performers from the Broadway musicals for their singing and dancing. Later in life was Gerlinde Kaltenbrunner (the first woman to climb all 14 eight-thousanders without oxygen) for her strong will and spirit. Last year was Blake Mycoskie (the founder of Toms) for his social entrepreneurial spirit. And today I am inspired by people who accept life, themselves and other as they are, live in the moment and enjoy the little things in life. I started believing that more success happens when you don’t chase it or push it.
In your opinion, what is the best thing about working in the family business as compared to working outside the family business?
The best thing was that I put out in the world my name, my values and my ethics. I could make decisions, in which I believed fully and could stand by. This freedom of speech and act is rarely existent in a non-family businesses environment – there you fight for the interests of someone else.
Did you ever work outside the family business?
Yes. I had several internships around the world – Madrid, Singapore, Shanghai, New York. I also worked for three years in a company in the US, after graduation.
Does your family business like to promote the fact that it is family owned and/or run? Why or why not?
Until recently, the fact that a business was a family business had a negative connotation in our country. Our family business does not use this to promote itself, but we also don’t hide it.
Why did you decide to join your family business instead of pursuing a different career path (e.g., a regular corporate career or starting your own venture)?
In 2008, I joined our company because I wanted to help the business in a challenging time. I also wanted to learn from my mother – I have always admired her achievements, scale of movement and reputation.
What were the biggest personal challenges you faced when joining the family business as a family member?
Some of the challenges were cultural. Moving back to Bulgaria, I had no idea what was the way business was conveyed in this country. My professional language was English. I had to quickly learn how to write letters to various institutions, to talk to potential clients and to present projects.
But the largest challenge was to separate the family from the business. The only thing we talked about was the business. And it was never enough. I had lost my family.
As a successor in the family business, do you feel like an entrepreneur or rather not? If yes, how do you manage to bring your entrepreneurial vision into the family business?
I always felt I have an entrepreneurial blood. During my time in the family business I started another division, which gained new clients and partners. I had made significant changes internally and externally and changed some of our culture.
What is your advice for other next generation members who are getting ready to join the family business?
My only advice is that you should follow your heart. Only with passion, things can thrive. Figure out what you want in life, or at least pay attention to what gives you satisfaction each day. Do not be afraid to ask the important questions to yourself and others. Think about your health and happiness first, and then think of how to make people’s lives better.
Our role is to improve and to pass to the next generation – to improve relationships, the state of nature, the way we use resources, etc. Along this goes the aspect of communication. Since most of our parents are quite authoritative, it can be difficult to communicate with them. In order to be heard, we need to have a strong and well-justified position.
What is the next big thing on your agenda?
Bulgaria is among the unhappiest nations in the world due to its history and some bad habits. We have all the resources to be happy. We just need to learn again. My wish is to change this and present more ways to live a satisfied life. Health is directly correlated on how we treat ourselves and others. The next big chapter is education.
Anything else you want to add?
We are all very blessed to have family businesses – to learn, to grow, and to pass on knowledge and resources to the next generation. Now that I am no longer part of the executive team, I can appreciate the work of the team even more. Every family business is hard work. Constant work. No sick days and no excuses. But it is also very emotional and human.
This month it is our tenth anniversary. I look back and see how much it has been achieved and given to us, clients, vendors and partners. I am also very proud that our business is independent and free of loans. I am very grateful to my parents and for all the decisions they have made. They have been made so we can get the best out of life. The rest is
I was born in Sofia, Bulgaria. I grew up quite independent. My parents divorced when I was 10 and I had to take care of myself. I lived in many different places and changed several schools. When I was 9, my mother and I moved to Addis Ababa, Ethiopia, where my grandfather was a successful architect. From the age of 14, living mostly by myself, I had to grow up very fast. In my last year of high school, when I was 18, my mom, my step dad and I, moved to Palo Alto, CA. They returned back to Sofia and I continued my university studies in the US.
When and how was your family business started? Which generation is currently leading the business?
Our family business was started by my mother in 2004. She has always been very creative, full of ideas that might sound crazy to regular people. She enjoys new ventures and exciting projects that no one has dared to undertake. I was about to graduate and start my first real job. So after growing the profits of several international corporations, the time was perfect to try something on her own. Currently, the leadership is back to the first generation. After leading the company as a second generation member, I decided to return it in her hands and our other non-family member.
What is your first memory of visiting / being exposed to your family business as a child?
As I child, I used to enjoy going to my mother’s work place. When I was introduced to our family business, I was already 26. I was very excited to help and start working for our company. I felt I could make a positive change and a difference within the business and with our clients.
Can you describe the time when you were prepared to take over the family business? Were you explicitly prepared to take over the business? If yes, how? Is there anything you would have done differently in the transition process?
Going back through my memories, I am not sure there was a time when I wanted to lead our company. I was definitely not prepared. Of course I did not have the right experience, but I also did not have the passion for the industry my mother has. I could not see how we can be successful if we were to continue onto this path. It was not my path.
This was a painful process to figure out and realize. We did not talk at all about how we see the future of our company. We did not know how to talk. I was mostly emotional and she was mostly logical – two opposite styles and behaviors. Let’s keep working, keep going. But where? I could not see it. It did not make sense to me. I did not see myself as part of the picture.
I would have tried to talk through the issues that bothered me, although I was very inexperienced in this aspect. If I could go back in time I still would not know what to do.
Can you tell us about one challenging moment and one positive moment from the transition process?
My biggest challenge was communicating what I felt. I knew something was really wrong, making me very unhappy, sick and miserable but I did not know what it was and how to change it. Parents call this caprice.
The positive moment was when I decided to take a break and realize how to save my relationship with my mother first and then think what to do next in life. Any type of transition is difficult and painful, with lots of emotions, expectations and sometimes with disappointments. But every change brings something fresh, new and positive. Today, the two of us are friends again and fans of each other, with regained respect and gratitude.
Do you have a role model? If so who and why?
It is not the best idea to have a role model, because this means you want to be someone else and not follow your own path. In different stages of my life the figures I have admired and received inspiration from have changed. The first one I remember was the adventurism of Pipi Long stocking. Then it was the young performers from the Broadway musicals for their singing and dancing. Later in life was Gerlinde Kaltenbrunner (the first woman to climb all 14 eight-thousanders without oxygen) for her strong will and spirit. Last year was Blake Mycoskie (the founder of Toms) for his social entrepreneurial spirit. And today I am inspired by people who accept life, themselves and other as they are, live in the moment and enjoy the little things in life. I started believing that more success happens when you don’t chase it or push it.
In your opinion, what is the best thing about working in the family business as compared to working outside the family business?
The best thing was that I put out in the world my name, my values and my ethics. I could make decisions, in which I believed fully and could stand by. This freedom of speech and act is rarely existent in a non-family businesses environment – there you fight for the interests of someone else.
Did you ever work outside the family business?
Yes. I had several internships around the world – Madrid, Singapore, Shanghai, New York. I also worked for three years in a company in the US, after graduation.
Does your family business like to promote the fact that it is family owned and/or run? Why or why not?
Until recently, the fact that a business was a family business had a negative connotation in our country. Our family business does not use this to promote itself, but we also don’t hide it.
Why did you decide to join your family business instead of pursuing a different career path (e.g., a regular corporate career or starting your own venture)?
In 2008, I joined our company because I wanted to help the business in a challenging time. I also wanted to learn from my mother – I have always admired her achievements, scale of movement and reputation.
What were the biggest personal challenges you faced when joining the family business as a family member?
Some of the challenges were cultural. Moving back to Bulgaria, I had no idea what was the way business was conveyed in this country. My professional language was English. I had to quickly learn how to write letters to various institutions, to talk to potential clients and to present projects.
But the largest challenge was to separate the family from the business. The only thing we talked about was the business. And it was never enough. I had lost my family.
As a successor in the family business, do you feel like an entrepreneur or rather not? If yes, how do you manage to bring your entrepreneurial vision into the family business?
I always felt I have an entrepreneurial blood. During my time in the family business I started another division, which gained new clients and partners. I had made significant changes internally and externally and changed some of our culture.
What is your advice for other next generation members who are getting ready to join the family business?
My only advice is that you should follow your heart. Only with passion, things can thrive. Figure out what you want in life, or at least pay attention to what gives you satisfaction each day. Do not be afraid to ask the important questions to yourself and others. Think about your health and happiness first, and then think of how to make people’s lives better.
Our role is to improve and to pass to the next generation – to improve relationships, the state of nature, the way we use resources, etc. Along this goes the aspect of communication. Since most of our parents are quite authoritative, it can be difficult to communicate with them. In order to be heard, we need to have a strong and well-justified position.
What is the next big thing on your agenda?
Bulgaria is among the unhappiest nations in the world due to its history and some bad habits. We have all the resources to be happy. We just need to learn again. My wish is to change this and present more ways to live a satisfied life. Health is directly correlated on how we treat ourselves and others. The next big chapter is education.
Anything else you want to add?
We are all very blessed to have family businesses – to learn, to grow, and to pass on knowledge and resources to the next generation. Now that I am no longer part of the executive team, I can appreciate the work of the team even more. Every family business is hard work. Constant work. No sick days and no excuses. But it is also very emotional and human.
This month it is our tenth anniversary. I look back and see how much it has been achieved and given to us, clients, vendors and partners. I am also very proud that our business is independent and free of loans. I am very grateful to my parents and for all the decisions they have made. They have been made so we can get the best out of life. The rest is
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