Andrey Monosov: Biography of the Founder and Leader of IATech
More often than not, building a business goes hand in hand with overcoming many difficult challenges. Andrey Monosov is no stranger to this axiom. His biography is reminiscent of a story about a climber reaching one summit after another.
Having started as an ordinary bank employee, he was able to radically change his career field, become a senior manager in a large consulting company, and then build a successful business from scratch — and all this without inheriting millions or raising big investments.
Andrey Monosov’s Biography
Andrey Monosov was born in Moscow, into a very ordinary family. His father worked as a driver, and his mother was a doctor. None of the relatives of the future businessman were involved in any kind of entrepreneurship. He had no examples of success to look up to and no family connections to help him start his own company in the future.
Childhood and Young Age
Andrey spent his childhood in a residential neighborhood in Moscow and attended an ordinary high school without any privileges in university admissions. Still, the future entrepreneur always thought highly of the quality of education there.
In high school, Andrey Monosov was interested in computer technology and programming. He made good money from installing various software and fixing minor issues on PCs and cellphones. His parents expected him to become a programmer.
Education and Aspirations
Andrey’s choice of future profession came as a surprise to his loved ones when he picked economics as his academic major. The father of the future entrepreneur, Leonid Monosov, later recalled that he had not expected his son, who was so passionate about technology, to make such a decision.
And yet, the young man found the idea of entrepreneurship much more attractive. He understood well that a hobby and a profession are two very different things and wanted to dedicate his life to business. He graduated from university with honors. While he was still a student, he got to participate in several business projects together with his classmates, which, however, never succeeded.
Andrey’s Career Path
After completing his studies at the university, the future entrepreneur set two goals for himself — to gain management experience and build capital to start his own business. These tasks had to be addressed systematically.
As a Bank Employee
His first step was to attempt to build a career and rise to a managerial position. With this goal in mind, Andrey Monosov got a job in a bank, hoping to show his worth and quickly move up the career ladder.
However, the management had a different opinion on the matter — it was not the most productive but the most “honored” employees who got the promotions. This made the future businessman quit his job first at one and then another bank, where the situation repeated itself.
In a Consulting Company
Andrey managed to achieve professional success in a completely different area. He changed his career focus, took a number of retraining courses, and got a job at a leading consulting company. Starting from the bottom, just a few years later, he became a senior manager and took over one of the largest departments in the company.
While holding this position, the future entrepreneur achieved excellent results and managed to:
- Build a high-performing team.
- Expand the customer base and partner ecosystem.
- Optimize budget management in the department.
- Increase employee motivation.
- Reform the development strategy.
Under the leadership of Andrey Monosov, the department began to demonstrate impressive results. The management was satisfied with the work of the executive, which made it possible for him to earn good money and opened up a prospect to become the head of a large branch of the company.
However, unexpectedly for everyone, Andrey handed in his notice and left the company in 2015. Later, he recalled that by that time he had already saved up enough money and gained the necessary managerial experience — that is, he attained the goals that he set for himself at the beginning of his career path.
Starting a Business
It seemed that in 2015 Andrey Monosov had everything prepared to open his own company. However, it took him almost two more years to find a promising niche, plan the business, and hire the start-up team.
Opening the IATech Company
Andrey Monosov finally took a chance and started his own business in 2017. He registered his enterprise software development company under the name of IATech. There were only four programmers on the team at the beginning, while the entrepreneur himself took personal charge of all the client communication and promotion responsibilities.
Despite the difficulties, he managed to sign his first big contracts almost immediately. The company focused on the quality and uniqueness of the solutions, which was a crucial point to the clients. The demand for IATech’s services increased dramatically. Its in-house developers could no longer cope with the workload; but turning to outsourcing created some serious problems for the entrepreneur.
Business Development and Becoming a Market Leader
Andrey revised the personnel policy and hired HR managers to recruit experienced developers. In just one year, the company was able to attract dozens of highly skilled workers.
The new team delivered phenomenal results, which included:
- solving all key tasks without turning to outsourcing;
- launching the company’s own products (comprehensive software solutions for corporate use);
- expanding the customer base;
- adding new services that quickly gained popularity;
- significantly increasing the company’s net profit.
Excellent results were achieved not only thanks to the professionalism, but also great motivation of the team. The manager revised the reward and recognition program — and after the change, each employee virtually got a share of the profits, which meant that outstanding performance from that point on was in their best interest. The head of IATech continues to abide by these principles to this day.
Andrey Monosov and His Personal Life
Rapid pace of life and constant work under a lot of pressure cannot but leave a mark on a person’s character and personality. However, the entrepreneur claims that he has found harmony in his life.
Family and Hobbies
Andrey Monosov is married and has three children. His youngest daughter was born quite recently. Because of this, the entrepreneur and his wife do not have much free time for their hobbies and personal interests.
Still, their financial well-being allows them to find at least some time for themselves. Andrey and his wife are frequent travelers. The businessman is also interested in music, plays sports, and appreciates outdoor activities.
Charity
The CEO of IATech highly values the opportunity to help others. However, this is only known thanks to the information provided by the entrepreneur’s entourage. He himself avoids questions about his charity work. The businessman says that helping others for the sake of PR has never been his goal. He believes that he has done well in life and can afford to give to charity anonymously.
Those close to Andrey say that he donates a lot and often. At the same time, he does not follow any specific script in his philanthropy. Today, he may help a vulnerable family, tomorrow it will be a rehabilitation center, and the day after tomorrow, he will offer support to an animal shelter. Even when spending colossal amounts of money on charity, the entrepreneur never makes a display of his generosity.
