Bojan Pravica, a Slovenian who found his home in Germany back in 1973, stands out as an exceptionally successful entrepreneur and a significant financial advisor. With nearly 40 years of experience in the world of finance, he operates as an independent entrepreneur, recognized for his remarkable footprint in the financial world and his advocacy for education in financial services.
Bojan Pravica, as the initiator and founder of various financial companies, has set new standards in the industry. His companies offer exclusive products ranging from real estate, insurance, securities, investment funds, policy funds to special offers of precious metal products. His expertise and commitment to education have led him to become a mentor and lecturer at seminars worldwide.
Elementum, a family-owned business built on his knowledge and years of experience, has established itself as successful and respected both domestically and internationally. With his leadership, Pravica sets high standards in the field of financial services while also promoting education and awareness in this complex area.
Shana Flogie: Hello and welcome. Today, I have with me in the studio Mr. Bojan Pravica, a successful Slovenian entrepreneur in the field of finance and investment. Mr. Pravica, despite being born in Slovenia, you have been living and working abroad for more than half of your life, as I announced. You deal with a topic that scares most people when it comes to dynamics and monetary investments, and they prefer to avoid it altogether. But you have taken it as your own. It has become your area of work, in which, it must be said, you are remarkably successful.
In search of a better future, you went to Germany. But first, I am interested in your upbringing and what motivated you to become a successful businessman today. As an entrepreneur, you operate both in Slovenia and in Europe, you are a family man, a successful father and manager, and a lecturer. What drove you to such decisions and values?
As a young child, I had the desire to take care of my children well someday, and today I can say that I have succeeded in that. Motivation was cruicial.
Shana Flogie: So what led to the decision to go to Germany, if you practically didn’t know the language and had previously lived in Slovenia?
Bojan Pravica: I learned English in school, but I had no prior knowledge of German. In 1973, I went abroad to Germany with friends through a labor exchange, where I have stayed since then. As a foreigner who didn’t speak German, I felt like a second-class citizen. This forced me to learn German. Today, decades later, when I confidently lecture in German, I see how beneficial it was to learn this language.
Shana Flogie: After the move, you quickly ventured out on your own, right? So, you became an independent entrepreneur. So this leap, as you said, when you really lived in poverty and your biggest desire was to make something of yourself, achieve something more… Can we assume that this drive was the main reason for this leap?
Bojan Pravica: When I started working at Mercedes as an ordinary assembly line worker, I progressed very quickly, not only in learning German but also in my job. They recognized my qualities and moved me to the quality control department fairly quickly. Despite Mercedes being one of the best companies in Germany, with exceptionally above-average salaries, I was convinced that salaries, despite their good amount, were limited. I had a feeling that I was capable of trying to do something more in life and that I didn’t need to be limited by a salary. I wanted to try my hand at being an independent entrepreneur.
So, of course, I accepted the challenge and started as a part-time independent entrepreneur in Germany as early as 1979. After arriving in Germany, I left Mercedes after three years of operating as a part-time independent entrepreneur. Despite many pieces of advice not to leave a well-paying and secure job, as well as formal education, and not to embark on risky entrepreneurship, I was convinced that if I couldn’t earn the same or more as at Mercedes, as an independent entrepreneur, I could still continue with my previous career. That is, return to point A after an unsuccessful attempt. That was plan B. But fortunately, as I anticipated, I didn’t need it.
Shana Flogie: How important do you personally think the experience of starting your career from the bottom is? When you enter a company, is it good to familiarize yourself with all aspects of its operations, meaning starting at the beginning, like as a receptionist or doing various tasks, to gain valuable experience in all sectors? Then you can become a company leader and a team leader. Do you think this is important?
Bojan Pravica: Absolutely, because anyone who starts at a certain position and then progresses over the years realizes that they are becoming better and more important. You learn the most over the years, and I don’t see any logical reason why, as an entrepreneur, you shouldn’t follow the same path. You can develop as an entrepreneur just as you develop as an employee in a company.
Shana Flogie: What was the next step then? That pivotal point when you told yourself, “Okay, now I’m really going on my own”? What was the first year like when you went completely on your own? Was it successful, positive, a loss, … Do you still remember? What were the experiences like?
Bojan Pravica: When I became a 100% independent entrepreneur, I actually did less than before. This was because I was now my own boss and decided to do things my way. However, I quickly realized my mistakes and started diligently planning my business activities for the next year. I set bigger goals for myself. I was involved in sports, and because of that, it wasn’t unfamiliar to me that without effort, not even a shoe is put on.
Shana Flogie: We’ve said that you started practically from scratch. As a child who experienced poverty. And today, you are a very successful entrepreneur. So, in Germany, the breakthrough of your entrepreneurship happened. The first year wasn’t the most successful. How did your business path develop after that? Where did you start with those first, bigger projects?
Bojan Pravica: Actually, I initially dealt with real estate, and I must say that as a real estate agent, I was very successful. When Germany became independent in 1989, I requalified for the securities market, mutual funds, and insurance. So, I wasn’t just a real estate advisor, but also for securities, mutual funds, and insurance.
In 1991, I started working with mutual funds in Slovenia and with the KADI company, which is now owned by Generali, and has made a very big move in the field of mutual funds in Slovenia, after the late Mr. Matjaž Gantar. Some may still remember that the Galileo Fund left a significant mark in Slovenia. Together with various advisors, whom we trained both in Slovenia and abroad, in Germany, I very successfully marketed securities, mutual funds, insurance, and real estate until 2006.
Shana Flogie: Very interesting. We see that you have dealt with many areas, from real estate to securities and mutual funds. Now, after all these years of experience, how do you view the current state of finance and investment, both in Slovenia and in Europe as a whole?
Bojan Pravica: I think the current situation is very dynamic and full of opportunities. Despite the challenges we face globally, there are also new opportunities for growth and prosperity. It is important for people to stay informed, educated, and adaptable so they can seize the opportunities that arise in the market. Investing and financial advising are always complex areas, but with proper education and expert guidance, people can achieve their goals.
Shana Flogie: As a successful entrepreneur and mentor, you have probably met many people who wanted to follow in your footsteps or sought your advice. What would you advise young individuals who are considering entering the entrepreneurial world or financial advising?
Bojan Pravica: I would advise young people to follow their passions and interests. It’s important for them to do what truly excites them, as that’s the only way they will be able to persevere and achieve success. Additionally, continuous learning is crucial. The financial world changes rapidly, and those who stay informed and continuously educate themselves have a greater chance of success.
I would also emphasize the importance of perseverance and fearlessness. The entrepreneurial path is not always easy, but effort and perseverance usually pay off. We can also learn a lot from failures, so it’s important to embrace them as part of the learning process.
Shana Flogie: Thank you, Mr. Pravica, for your time and valuable advice. Your story is inspiring and offers great insights into the world of entrepreneurship and finance. We wish you continued success in your endeavors.
Bojan Pravica: Thank you, Shana. I’m glad I could share my story, and I hope it inspires others to pursue their dreams and achieve their goals. Good luck to everyone!
The interview with Bojan Pravica provided insight into the remarkable journey of a successful Slovenian entrepreneur who, through perseverance, passion, and dedicated work, built his business empire. His story reflects the power of will and the ability to overcome challenges encountered on the path from growing up in poverty, to a leading position in the world of finance and investment. Bojan Pravica, with his experience and expertise, not only achieves outstanding business results but also shares his knowledge as a mentor and lecturer, promoting education in the field of financial services. His story can be an inspiration and encouragement for all those striving to achieve their goals in the business world.