Nikolay Bachvarov was born on May 14, 1962 in Sevlievo. He has served as the Manager of Baumit Bulgaria EOOD since 2000. Prior to this role, he held several key positions, including Consultant at Ernst & Young AFA, Chairman of the Board and Executive Director of "Bulgaria“ Privatization Fund, and Vice President of Finance at "Bulgaria Holding."

Additionally, he worked as the Chief Accountant at both the Insurance and Reinsurance Company "Bulgaria" AD and at Computing Machinery Works. In 1989, he graduated with a degree in Accounting and Control from the University of National and World Economy (UNWE) after completing his studies at the German Language High School in Lovech.

Please tell us a bit more about yourself and your journey at Baumit Bulgaria

As soon as I joined Baumit Bulgaria in 2000, my first task as a manager was to create a good and motivated team in order to establish a stable foothold in the Bulgarian market for building materials. We needed positive people, who were at the same time good specialists, and who would perceive the company's know-how and put it into practice. Fortunately, the new team members complemented our existing staff perfectly.

In those challenging years, the concept of thermal insulation systems was virtually non-existent. People stuck something on the facades and hoped it was for good. I dare say that Baumit was the first brand in Bulgaria that talked about system solutions in construction and took serious guarantees for their implementation. Thus, in a short time, by assuming responsibility, we positioned the Baumit brand successfully. This gave our associates confidence.

Nowadays, systematic thinking remains a fundamental principle guiding our innovation development. Our product offerings—including thermal insulation systems, plasters, screeds, adhesives, and leveling compounds—are widely recognized and trusted by our customers, who associate the Baumit name with security and durability.

Additionally, our company philosophy has evolved to emphasize the promotion of a healthy and comfortable lifestyle through our products while simplifying construction processes. Sustainability is ingrained in all our operations, from raw material extraction and production to the investment of materials in construction.

@Baumit plant in Yambol, Bulgaria

You have been active in the Bulgarian market for 29 years, navigating various crises and accomplishments along the way. Which experiences had the most significant impact on you, and how did they shape your approach to business development?

We cannot remain unaffected by the processes in the Bulgarian society. We've been through ups and downs. One of the most impactful challenges was the global financial crisis of 2007-2008, which reverberated in the construction industry until 2010. During this period, while many companies faced bankruptcy or drastically reduced their operations, we successfully restructured some of our activities.

This experience instilled courage in us and equipped us to navigate the subsequent Covid crisis effectively. Crises provide companies with opportunities to reassess priorities and strategies—balancing the pursuit of success with the preservation of our most valuable resource: our team. When I refer to the team, I’m not just talking about the management but also every individual worker who brings invaluable experience and skills, which cannot be acquired overnight.

@Baumit plant in Elin Pelin, Bulgaria

What distinguishes Baumit from its competitors in the market?

Firstly, the quality of our products stands out, with approximately 90% manufactured in our two plants in Bulgaria. Secondly, though equally important, our transparent trade policy and the honest relationships we maintain with our industry partners.

Additionally, I would highlight our motivated team, which has a strong commitment to the Baumit brand. Our partners take pride in stating that the Baumit brand is an integral part of their buildings.

What are the primary challenges you encounter when doing business in Bulgaria?

In new construction, I can confidently say that we do not face significant challenges. We collaborate with some of the best architects and builders in the industry, and many emerging companies and designers also seek our expertise. We have established special initiatives in partnership with the University of Architecture, Civil Engineering and Geodesy (UACEG), as well as with vocational schools focused on construction.

However, the situation is different when it comes to building remediation, an area where we excel. We offer solutions for all complex cases. Unfortunately, there has been a persistent lack of adequate state policy in this domain, particularly with clear and precise criteria. It is essential to develop programs that prioritize factors beyond just the lowest price. Only then will the appearance of our cities and villages improve significantly.

What three key pieces of advice would you offer to young entrepreneurs starting a business in Bulgaria?

It's essential for young entrepreneurs to thoroughly evaluate the opportunities and risks associated with their ventures. Only then will they be able to make the most of their advantages and minimize their risks. Of course, while some level of risk is inevitable, it’s important to approach it with careful consideration.

Additionally, maintaining a positive outlook is crucial; without optimism and a proactive attitude, it's difficult to achieve success. Complaining about everything won't drive progress.

How do you respond to the dynamic changes in the market and what is your approach to managing risk?

Baumit Bulgaria is a dynamic and innovative company. We frequently anticipate market trends and adjust our structure or expand our team in areas that we previously thought were stagnant.

We also embrace the risks associated with introducing new products. Our experience has taught us that progress in our industry doesn’t happen overnight; it requires consistency in both quality and supply to make our products the preferred choice among builders.

What key qualities do you seek in employees to identify them as valuable contributors to the company?

I have already mentioned them: motivation, optimism, persistence, and loyalty.

What strategies do you employ to motivate and retain your top employees?

Many often believe that financial incentives are the primary motivator. However, my experience has taught me that there is much more to it.

A strong company spirit plays a crucial role, and I believe this spirit is cultivated at our headquarters and radiates throughout our subsidiaries. The sense of belonging to the "Baumit family" is a significant factor in why our associates choose to stay with us for many years.

What personally drives and inspires you in your work?

Both successes and failures serve as my motivation. While successes bring us joy, it is the failures that ignite our ambition to work harder and analyze our actions more effectively. We must learn from these experiences, draw valuable conclusions, and avoid repeating the same mistakes.

Is it challenging to balance your personal life with your professional responsibilities? How do you manage to maintain this balance?

I believe balance is achievable with good judgment. When I hear people claim they work 16-18 hours a day, I often think it's a sign that they don't have a good team.

Thank you for being part of 'Manager Talks'! Lastly, could you share one word that inspires and motivates you to keep moving forward?

Prosperity.

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Novinite.com and Novinite.bg are excited to launch "Manager Talks," a new series featuring interviews with leading managers and business leaders sharing insights and strategies for business management in Bulgaria.

Building on the success of "Ambassador Talks," this series will highlight achievements, innovations, and future visions of prominent Bulgarian managers. We invite interested leaders to contribute by contacting us at office@novinitegroup.com.