VENDLER.

An Active Retirement Life and What Comes After

2024.01.29.

After two years of rest, learning, and recharging, by 2024, I felt ready to truly make my "retirement" years active. Of course, the past two years weren’t entirely idle, but my focus was entirely different—certainly not on building businesses. However, something has changed. For the past few months, the idea has been stirring in me: I want to create something beautiful, exciting, and, of course, profitable again. But somehow differently than before: in collaboration with others, pooling our resources, and inspiring each other on the path that leads to our goals.

After completing my space policy advisory training, I sat down and gathered the business projects I’m working on. Without naming them, just focusing on the areas to see what lies ahead for me this year.

Existing, Operating Businesses

  • Marketing Agency: I founded it 25 years ago, and about 10 years ago, I handed over the leadership role to someone else. Currently, as an owner, my main goal is to rethink and redesign the company's strategy with my business partner. We aim to explore and introduce new areas to increase international orders and domestic recognition.
  • Tourist Accommodation: This project started in the fall of 2021 and has remained particularly close to my heart ever since. We are currently working on expanding our services, for which an expansion investment is already underway. Hopefully, we will successfully complete it in the first half of the year, and then I’ll write more details about it.
  • Office Building: Another passion project. A charming little family house was converted into an office building. Located in Pécs, in the university town, the property is easily accessible. I "lived" in it for a long time myself; it’s a cozy, homely, and atmospheric place.

New Business Projects

  • Entrepreneurial Attitude Research: We are working on developing a new testing system with organizational development and psychological experts, aimed at gaining a deeper understanding of the entrepreneurial attitude. The concept came together in May 2023, and since then, we have developed a questionnaire, tested it on about 60 entrepreneurs. Currently, we are revising the professional materials and working on the conditions for a broader survey.
  • Space Industry Communication Group: In this project, I am working on building a research group that focuses on the communication aspects of the space industry. My goal is to launch a team with unique knowledge that represents essential added value for international players in the industry. We are currently in the initial steps, aiming to bring the concept to life by the end of the first quarter.

Investments

  • Child-Rearing Support Mobile App Startup: This project was love at first sight. I became an investor in 2022, and the app launched in the spring of 2023. During this time, we faced a lot of problems, primarily that the company didn’t take off. As an investor, my main goal is to support the founders, rethink the service, refine the strategy, and kickstart sales.
  • Herbal-Based Dietary Supplements: A new area, a new company! The goal is to start a company that produces and markets dietary supplements made from unique herbal recipes. The preparatory work began in the summer of 2023. Since then, we have completed the testing of 3 products, established the supply chain, and developed the brand identity. Currently, finalizing the legal, organizational, and financial background is the main task.
  • Tourist Accommodation in the Austrian Alps: We have been working on creating a romantic, forested accommodation for almost 6 months, which will be the perfect place for relaxation and rejuvenation in a quiet, idyllic alpine environment. The plan is to be ready to welcome guests by the last quarter of 2024.

Mentoring for Business Leaders

Mentoring is perhaps what I love doing the most. After a pro bono mentoring year in 2023, I’m now starting to work on a market basis. My goal is to work with leaders who inspire and motivate me both personally and in their business goals, and who make me think.

Since 2023, I have supported the development of 6 companies on a monthly basis and helped nearly 20 business leaders with specific challenges.

Business Consulting

I primarily provide assistance to companies in areas such as entering international markets, selling businesses, corporate strategy, and digitalization, leveraging my experience and knowledge gained over the years.

I have been asked several times to prepare for business sale negotiations, participated as an observer in business negotiations, developed product digitalization strategies, and assisted in career transitions at the request of corporate leaders.

Looking back at this list, it seems like a lot at first glance—perhaps even too much. Especially if I consider my ideas about work-life balance... How can one successfully manage so many projects? How can it be done while leading a life that’s light and focused on family, friends, and self?

I have ideas; I feel that with clear goals, good partners, a well-thought-out plan, and honest communication, this is achievable. But one thing is for sure—I’ll have plenty to write about this year.

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The article was translated from Hungarian to English by ChatGPT. Thank you, ChatGPT, for being here.

2024. BALAZS VENDLER

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