The Journey of Local Startups to Global Markets
Is it difficult to find a job today, or is it harder to find qualified specialists? How is Uzbekistan’s market and marketing evolving? Are there any local startups that have reached the global stage? Finding answers to these questions isn’t easy.
To explore these topics, we interviewed Abduqahhor Tashmuhammedov, the founder of Smartup, which holds over 60% of the market in Uzbekistan. During the interview, he shared insights on current market trends, employment challenges, and the potential for local startups to enter global markets. Here are the responses from this experienced entrepreneur.
How do startup founders gain knowledge? Can you share your background?
– My personal educational journey isn’t the most positive example. Some people believed I wouldn’t achieve anything. However, at 22, I realized the importance of choosing a specific field and committing to growth within it. As a result, I pursued education at the Moscow State University of Economics, Statistics, and Informatics (MESI).
This doesn’t mean that anyone can succeed in business without education. Today, education is incredibly important. Later, I worked in various companies and gained significant experience. However, many young people today believe in the misconception, “I’ll never work for someone else.” I disagree with this mindset. If you see a job as merely “working for others,” it will hold you back. But if you view it as “gaining experience,” it will positively influence your future.
When choosing a workplace, focus on acquiring experience and professional growth, not just earning money.
What is your stance on falling into a comfort zone?
– I’ve never lived in a comfort zone because, at 22, I set clear goals and constantly worked on self-improvement. My advice to young professionals is to find a company that aligns with their goals, test their ideas there, and gain experience. This knowledge and experience will help them start their own businesses later.
Many people boast about past achievements but fail to grow in the present or plan for the future. Those striving for true success always know what they’re doing now and what their future roadmap looks like.
What challenges have you faced with the Smartup project?
– Currently, Smartup operates in 10 countries, but the market is still relatively small. Internationally, several challenges exist: currency exchange and cultural differences. When foreign clients learn that we are from Uzbekistan, it sometimes causes a lack of trust. Because of this, there have been suggestions to register the startup in Dubai or the U.S., but I firmly refuse. The world must know that Uzbeks are capable of creating high-quality startups too.
What challenges do you face with your team?
– My team currently has 87 employees. In Uzbekistan, the main issue is that many employees lack the desire to grow. Most prefer to stay in their comfort zones and demand higher salaries without demonstrating results to justify these demands.
What is Smartup’s current valuation?
– Today, Smartup is valued at $30 million.
Which books would you recommend to young people?
- The Richest Man in Babylon by George S. Clason
- Money, Success, and You by John Kehoe
- The Science of Money by Brian Tracy
- Rich Dad, Poor Dad by Robert Kiyosaki
- Think and Grow Rich by Napoleon Hill
- The Goal by Eliyahu Goldratt
- Customers for Life by Carl Sewell
- Screw It, Let’s Do It! by Richard Branson
- The 7 Habits of Highly Effective People by Stephen Covey
- The Monk Who Sold His Ferrari by Robin Sharma
What are your thoughts on luck?
I compare luck to playing the lottery: if you want to live hoping for a one-in-a-million chance, go ahead. But real luck is about being prepared when opportunities arise. To achieve this, you must work on yourself and make every effort possible. People often admire others’ success without realizing the hard work behind it. That’s why I wish true luck only to those who work for it.
If you could bring one aspect from abroad to Uzbekistan, what would it be?
– Honestly, none. But I would bring a sense of responsibility. Someone who doesn’t show up to work on time is likely to perform their tasks irresponsibly. Discipline is one of the most significant challenges we face.
