Mykhailo Lyzanets

Rotman School of Management, University of Toronto

“Serial entrepreneur looking for a global perspective to change the world.”

Hometown: Kyiv, Ukraine

Fun Fact About Yourself: My father was the owner of an agribusiness, and when I was a teenager, he took me to crop fields in August as a way to spark interest in the family business. I had a severe allergic reaction and spent the rest of the day in the hospital. That was the end of my agricultural career, so I had to try my luck in other areas.

Undergraduate School and Major: Kyiv National Taras Shevchenko University, International Information; London Business School, Masters in Management

Most Recent Employer and Job Title: Moneyveo.ua; Chairman of the Board, previously – Founder and CEO

Describe your biggest accomplishment in your career so far: I am a founder of Ukrainian online lender Moneyveo and led it through different stages of development. I had to learn skills from various areas and reinvent my management style many times as the company was developing. I learned the hard way that launching a product with a team of eight is one thing and managing business processes across multiple departments is an entirely different thing. There were many crises and risky situations – it was a challenging journey, but eventually, the company grew to 500 000+ clients and more than 250 employees.

What quality challenging best describes the MBA classmates you’ve met so far, and why? They are all very ambitious. My classmates worked on amazing products, received multiple sports awards, held high positions at global companies, or launched their businesses. What they all have in common is that although they achieved impressive results, everyone wants to get to even greater heights.

Aside from your classmates, what was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? I was looking for a school that was innovative and had a developed startup community. Rotman provides many tools and resources for entrepreneurs – it’s located in Toronto, has an Innovation and Entrepreneurship major, and hosts multiple events to find like-minded people and network. I was extremely excited to be awarded a fellowship at Rotman’s Creative Destruction Lab, a seed-stage program that provides mentorship and opportunities for raising capital. I realized that here I would significantly increase my chances to create a new successful company.

What club or activity are you looking most forward to in business school? I look forward to joining REVCA, Rotman Entrepreneurship and Venture Capital Association, and the Executive Dinner Club.

What was the most challenging question you were asked during the admissions process? Timed video essays were rather challenging. The questions were not complicated. However, the process can get stressful – the time is short, there is no feedback as during an interview, and you really have to think on your feet. I would advise taking some time to practice talking in front of the camera if you are new to this.

What led you to pursue an MBA at this point in your career? Six years since founding my company, it was growing but became more mature and stable. As a result, I decided to leave the position of CEO and explore new business opportunities last year. I believe that pursuing an MBA at the right school puts you in an excellent environment for finding the right idea and business partners. Studying business disciplines along with people with diverse backgrounds, having your ideas challenged daily, and living in another country is a great recipe for inspiration and innovation.

What other MBA programs did you apply to? UBC Sauder, Schulich

How did you determine your fit at various schools? The highest priority was the startup community and resources. Apart from that, the location was significant for me because I believe that our environment defines us. As an international student, I was looking for a chance to live in a vibrant city, do new things, and meet people from other cultures. Toronto was clearly a top destination – Google is building its Smart City, the tech scene is booming, and there are a lot of amazing and fun things to explore here.

I did a lot of online research: reading blogs and newspaper articles, studying various programs’ websites in detail, and watching campus tours on Youtube. At some point, it just clicked and I knew that Rotman was the best choice for me.

What was your defining moment and how did it shape who you are? Several years ago, I decided to launch a subsidiary of Moneyveo in Mexico. After one-and-a-half years, it was clear that we haven’t reached our goals and the subsidiary was holding us back. As a result, the Mexican company was sold at a loss to a competitor, which allowed us to move forward and improve as an organization. I’m happy I had the chance to go through this experience of founding and running a business in a foreign country. It taught me to be more cautious and to pay more attention to planning and research – ambitions need to be backed up by more than optimism to achieve success.

Where do you see yourself in ten years? I hope to be a founder or a co-founder of an innovative company that is changing the world.