I recently with one on one with Eugene Tutunikov, CEO of SwissWatchExpo.

Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?

Eugene: We are a family of refugees from Ukraine. We left in the late 1980s while it was still part of the former Soviet Union. I was still a kid, but that experience has greatly shaped my work ethic. I have vivid memories of relying on food stamps, but also saw so much of my immigrant community thrive. The concept of the American Dream is very much alive and well in my heart. You can do a lot in this country if you put the effort in. We left a communist regime to have more opportunities in the USA, and my family continues to work hard to maximize those opportunities every day.

I was told since I was 6 years old my whole family left so I can have better opportunities; my family arrived in this country with very little language skills, and funds, and within 7 years we had a house in the suburbs and a nice family car. If that isn’t motivating, I don’t know what is!

Adam: In your experience, what are the key steps to growing and scaling your business?

Eugene: Know your customer, your customer is your boss. They can “hire you” by choosing your company, or they can “fire you” by spending their money elsewhere. Another is to watch your expenses: you have less control over your sales than you do over your expenses, but expenses kill as many companies as sales do. Also, be willing to make sacrifices outside of the business; it doesn’t have to be permanent, but most successful entrepreneurs put other things aside and focus on the business at the beginning. Lastly, don’t shoot for the moon all at once, build brick by brick. If every year is a bit better than the last, you can end up with a sizeable business. Consistency in growth can often have more value than big strides.

Find team members you enjoy working with, as you will likely be spending more time with them than anyone else in your life while scaling the business. Life is too short to work with or do business with someone you don’t like. We have a rule: no matter how smart or experienced you are, if you have an ego, we won’t work with you. 

Adam: What do you believe are the defining qualities of an effective leader?

Eugene: I believe an effective leader needs to be a great listener and communicator. They also need to take risks, work long hours, and hold themselves accountable. They are able to prioritize and minimize distractions, while focusing on personal strengths of each employee, including themselves, to grow the business. 

An effective leader needs to have a lot of enthusiasm and positive energy. This type of attitude hopefully infects the rest of the team and they follow suit. 

Adam: How can leaders and aspiring leaders take their leadership skills to the next level?

Eugene: The best thing a leader can do to take their skills to the next level is to understand their personal leadership style, and then hire a team around them that understands that style and complements it. 

I also find it helps to listen to podcasts and learn from the leaders that are out there or came before you. There is a wealth of knowledge out there, and you can learn a lot from how other leaders tackled challenges and embraced opportunities. The best leaders are sponges, soaking up knowledge.

Adam: What are your three best tips applicable to all entrepreneurs and business leaders?

Eugene: One: don’t take yourself too seriously! Try to smile and have some fun along the way. Your team feeds off your mood, happy people get better results.

Two: manage expenses very carefully, even more so when times are good. It’s harder to cut back on expenses once they are in place.

Three: be a team player. In most organizations, ego doesn’t equal success. 

Adam: What advice do you have for leaders and entrepreneurs in the field of e-commerce?

Eugene: It’s important to know your numbers. In e-commerce you have access to so much data, so you really need to pay attention and understand it. Also, not everything has to come at a huge cost. You don’t necessarily need to hire an expensive agency or consultant to do build something in e-commerce; there are great experts and freelancers that will charge a lot less as you’re building your business. Lastly, test your assumptions as much as possible. Many times, what seems to be the best approach isn’t always that once you test different variables. 

Adam: What are your best tips on the topics of sales, marketing, and branding?

Eugene: Sales is a trust game; your customer needs to trust you that you are guiding them to their best choice. That can only be true if it is true. We are an anomaly in the industry in that we don’t pay our sales team commission. They are all truly passionate about watches, and are trained on all the brands and watches that we carry, so we can help the clients find the perfect watch for their needs, taste, budget, and occasion without any pressure sales techniques. 

We build a long-term relationship with our clients, and then it no longer really feels like “sales,” more like helping a friend. They may have first sought us out when they wanted to add a particular piece to their collection or sell a watch they no longer wear. We continue the conversation as they shop for more for holidays, spouse, kids, etc. And later, they may come back to buy a watch for an executive at their company as a present for closing a big deal or a 10 year work anniversary. We are there for them throughout this process to advise them. We currently carry around 3,000 watches in inventory, which is one of the largest in the world and the prices range from $3,000 to $100,000+ per watch. Having that variety allows us to build lasting relationships and be a part of our clients’ lives.

Adam: What is the single best piece of advice you have ever received?

Eugene: I was lucky that my parents gave me an immense sense of confidence, and that led me to believe that anything is possible. Most things that seem very difficult or even impossible are very doable once you just get started. So, start! 

Adam: Is there anything else you would like to share?

Eugene: Coffee helps!


Adam Mendler is an entrepreneur, writer, speaker, educator, and nationally-recognized authority on leadership. Adam is the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal-winning athletes, political and military leaders - for intimate half-hour conversations each week. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities, and non-profit organizations. Adam has written extensively on leadership and related topics, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. Adam teaches graduate-level courses on leadership at UCLA and is an advisor to numerous companies and leaders. A Los Angeles native, Adam is a lifelong Angels fan and an avid backgammon player.

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