“Building a Business as a Living System”: An Interview with Founder of NS Holding

In times when war reshapes business reality on a daily basis, the transformation story of NS Holding stands as a vivid illustration of the power of partnership, systems thinking, and long-term strategy. We spoke with Volodymyr Rogozny – entrepreneur, founder of NS Holding, and graduate of the second Presidential MBA cohort at KMBS – about how to build a holding that doesn’t collapse under crisis pressure but adapts and grows.

Volodymyr, please tell us about your journey in entrepreneurship. How did it all begin?

It all started in 1994, when I graduated from Kyiv State University of Foreign Languages. But instead of an academic career, I chose entrepreneurship. Over the years, I launched more than forty startups – both independently and in partnerships. Some of them became market leaders, and based on those, I formed NS Holding. Over time, top managers evolved into partners – people with whom we overcome crises, support each other, and grow across European and U.S. markets.

What was the state of the holding before the transformation?

Outwardly, everything looked successful: 115 employees, four businesses, a prestigious office. But internally – low efficiency. Maintaining the structure consumed profits, management was centralized and essentially manual. And the bottleneck in the system was me. Without changing the management model, neither Lean nor the Theory of Constraints worked.

What role did Kyiv-Mohyla Business School play in your transformation?

A huge one. In 2007, I enrolled in the Presidential MBA program at KMBS, and it was a turning point. It was there that I first took a systematic look at myself as an entrepreneur and began to build the company as a complex living system. Then followed additional programs in finance, HR, marketing, and strategy. And after 2022, I took Oleksandr Savruk’s course on strategic thinking – it helped me reinvent the business for the new realities.

What KMBS tools did you implement in practice?

A lot. Starting from customer-segment-based positioning, applying the Theory of Constraints, Lean – to new practices in strategy, HR, marketing, project management. Of course, there were failed experiments, but overall it’s been an exciting journey of continuous improvement.

What was the turning point in changing your management model?

We implemented corporate governance, created an Advisory Board, invited top managers into partnership, and developed a budgeting and KPI system. NS Holding ceased to be a company with a linear-functional structure and became a community of partnerships with independent businesses, united in a holding with a set of supporting functions. That’s how we achieved resilience and flexibility – a clear advantage in times of great challenges.

How did this system hold up during the full-scale war in 2022?

The first day was a shock. But we quickly coordinated our work, ensured the team’s safety, and helped clients and patients with relocation. Because we began implementing corporate governance back in 2019, we were ready to act. The Advisory Council – Kateryna Konashchuk, Dmytro Kozlov, Serhii Bulavin – mobilized like a command center. And partners – Artem Zymniy, Yuliia Fishman, Nataliia Dubova, and later Oleksandr Yefimenkov, Yuliia Danylenko, Ivanna Siladi – held the line in their respective areas.

Why did you decide not just to restore the business, but to rebuild it?

The new conditions – both external and internal – left no room for cosmetic fixes. We analyzed market changes, rebuilt NSBM’s products, and updated the Open Likar platform. In 2023, we entered European markets with Nespat and NSBM. We opened an office in Warsaw and built a network of representatives in 13 countries.

Nespat International, led by our new partner Oleksandr Yefimenkov, even surpassed the Ukrainian division in revenue. Nespat Ukraine, thanks to Yuliia Danylenko, resumed growth after a long stagnation.

How have the other businesses within the holding performed?

NSBM, under Nataliia Dubova’s leadership, not only retained the team but also broke pre-war sales records. It entered the Polish market. Open Likar, led by Ivanna Siladi, holds dozens of events monthly, and over 30,000 doctors are registered on the platform. Yuliia Fishman preserved and developed the Messe Berlin representation in Ukraine and is working on a new business model.

What helped you move from heroic survival to sustainable growth?

First – a team united by shared values. Second – a change in ownership structure: managers became partners. We shifted from a vertical org structure to a matrix one with elements of ochlocracy. We implemented succession planning, transparent reporting, and an ongoing strategy process. We created career elevators for the ambitious. And we never stop learning – our top management constantly takes programs at KMBS.

What results has the transformation delivered?

We’ve once again met the challenge – and became a better version of our former selves. The senior generation of partners has matured to scale. The new generation of managers is already taking leadership roles.

I no longer deal with operations personally. My role is that of a facilitator, strategist, and culture bearer. I’m proud to be involved in building a whole community of Ukrainian entrepreneurs – that’s part of my personal mission. I cherish my role as a gardener who nurtures and grows Ukrainian projects that significantly impact several sectors in Ukraine, Europe, and the U.S. The NS Holding community has big plans and strong prospects ahead.