A large business is the product of huge investments; it usually involves raising capital, looking for partners, and announcing a pre-IPO. Only a few daredevils rely on their own resources, and only a handful achieve success. Andrey Monosov managed to create a large enterprise software company from scratch.
But the biography of the successful Russian entrepreneur is full of both ups and downs. What he has today is the result of careful planning, dedicated work, and incredible determination.
Childhood Years
Andrey Monosov was born in 1988 in Moscow. And this is where he spent all his childhood. His father, Leonid Monosov, had a teaching degree but had to work as a driver, as this profession offered a higher income at the time. His mother, Elena Monosova, was a pediatrician. His parents did everything in their power to ensure the comfort of their son — but the family always lived quite modestly.
Among the school subjects, the boy preferred the exact sciences, history, and literature. He was good at playing the guitar (a passion that he carried throughout his life), loved playing sports and competed in swimming and athletics events.
Student Years
Andrey’s father advised him to consider a career in IT, but the young man saw himself only in the business field. After high school, he got a university scholarship in economics, which allowed his parents to spend the money they had set aside for his education on renovating their apartment.
Andrey Monosov did well at his studies and brilliantly defended his thesis. During his university years, he tried his hand at several business projects that were started by his fellow students, but none of them ever became profitable.
First Jobs
Back in high school, Andrey used to do some minor repairs to computers and mobile phones; he installed various software and gave people advice on how to choose and upgrade their hardware. He continued with his hobby at the university as well.
Later on, Andrey Monosov would admit that he did not do this for money — he just genuinely enjoyed working with anything related to technology. But he never turned down the payments he was offered for his work and over time it helped him save up enough money to upgrade his own computer. Thanks to this side job, he was also able to start paying for his own needs and manage without the pocket money his parents gave him.
Work in Banking and Consulting
After getting his degree, the young graduate wanted to open his own business, but the lack of resources and entrepreneurial experience became a serious obstacle on this path. That is why Andrey decided to work in the banking sector for a while, save some money, gain experience, and only then start his own business.
He got a job as a corporate client service specialist, but it quickly became a disappointment to him. The bank offered no opportunities for growth to the young employees and Andrey Monosov saw no career prospects for himself there, even though he was managing several big clients at the time. When he started a job at another bank — this time with real work experience — the situation repeated itself, so he decided to quit.
His next job was in corporate consulting. The new career field required additional training, but the young specialist received all the support he needed from the management and his colleagues — and very soon he got his first promotion. By 2013, Andrey was the head of the company’s finance department. The management’s fair assessment of the employees’ input made it possible for him to climb up the career ladder.
Monosov liked his work and his team, but the dream of having his own business was still there, so eventually he decided to leave the company.
Founding of IA Tech
Andrey Monosov spent two years drawing up a business plan and building a strategy. He knew that he wanted to start an IT company, but choosing a specific niche became a real challenge. But as luck would have it, a friend asked Andrey to recommend him a company that developed enterprise software. After some research, it turned out that the niche was practically empty — only a few IT companies provided process automation services for big organizations, and almost none specialized in program optimization.
This segment seemed attractive for many reasons:
- Constant demand — most financially well-off companies were in need of enterprise software.
- Moderate initial costs — purchasing hardware and equipping workplaces was enough for the start-up.
- Only a handful of competitors — meaning that the niche was virtually free.
- The opportunity to hire good specialists — the tech stack was of interest to many developers.
By the time the company was registered in 2017, there were only 5 people on the team, including the entrepreneur himself.
Further Development of IA Tech
Since the initial staff was so small, the head of the new company had to take on a lot of additional responsibilities, including:
- selecting and hiring new employees;
- finding clients;
- renting spaces and buying equipment;
- creating a motivation system for the employees.
Such a number of responsibilities would confuse any novice businessman, but not Andrey Monosov — who previously headed the financial department of a large consulting company and was used to multitasking. Meanwhile, there were more and more clients, and IA Tech staff was starting to have difficulty managing the tasks that were flooding in.
Demand for custom software was increasing, and eventually the company was faced with a staff shortage. This situation forced Andrey to delegate some of the key tasks to outsourcing companies. This turned out to be a mistake. One of the partners did not complete the task on time, and this almost caused the company to lose the customer trust. Since then, everything related to software development, support and analytics has been the job of the full-time employees only.
Today, IA Tech has more than 100 employees and over three dozen large-scale projects under its belt. The company has gained the trust of many big businesses and is known to always honor its commitments.
Personal Life of the Successful Entrepreneur
Andrey Monosov met his future wife when he was very young. Now the couple is raising three children. The businessman manages to find time for his hobbies too; he loves sports and music and reads a lot — mainly science fiction books.
It is known that the entrepreneur donates to charity, but he himself prefers not to attract public attention to this fact. According to him, in his current situation, he can afford not to use good deeds to promote his brand; instead, he can help those who need it most in his opinion.
