Entrepreneurship Series: Iryna Sagaidak

In a country where 70-75% of Luxembourg nationals normally end of working in the civil service, and most of the jobs in the country's largest business sector (the finance sector) are held by members of the international community, the innovation sector has been driven government initiatives and funding programmes such as Fit 4 Start through the national innovation agency, Luxinnovation which connects startups, researchers and enterprises; Also, ADEM, the national unemnployment office, has initiatives for those planning to start their own businesses.

Many of these jobs may be seen to be "safe" positions, without much risk, but there are people who are a bit more adventurous and are prepare to take "a leap of faith" to realise their own dreams, whether by design or by accident, or even by particular circumstances. Everyone's story is different...

However, on the ground, things many seem and feel a bit different… In this series of articles on entrepreneurship, Chronicle.lu is specifically addressing individuals who have left (the relative safety of) corporate life for (a relative risky jump into the unknown of) running one's own business.

For the fourth in this series, we are talking with Iryna Sagaidak who operates MindfulBody, a somatic therapy practice in Luxembourg for people living with chronic pain, tension or stress that conventional treatments have not been able to resolve – symptoms that come from a dysregulated nervous system rather than structural damage. She explained: "I combine three approaches: the Feldenkrais Method, Pain Reprocessing Therapy and somatic emotional release, to help the nervous system feel safe and let go of old protective patterns for lasting change. With this kind of work, the best results come from a personalised approach, so most of my days are filled with one-to-one sessions, alongside occasional group workshops where I share the benefits of somatic movement and tension release with a wider audience. At the moment, I work alone and do not employ others".

Chronicle.lu: Please tell us about your previous corporate work, including what sector you worked in, and for approximately how long

Iryna Sagaidak: I worked as a project manager in the IT and communication services sector (mainly for EU institutions) for around three years. Juggling multiple projects, deadlines and stakeholders proved very useful later on, when I had to handle every aspect of running my own business.

Chronicle.lu: When you decided to set up your own business, how long did it take you to set everything up before you handed in your notice and left corporate employment?

Iryna Sagaidak: The idea of changing my professional path had been brewing for around two years, but it took about six months from actually deciding to start my own business to handing in my notice.

Chronicle.lu: Did your employer have any specific initiatives in place to help you ease the transfer for corporate to self-employed status (e.g. have a period of half-time employment while you get everything set up)? If so, please provide details

Iryna Sagaidak: My employer didn’t have any specific initiatives in place. However, part of my decision to become self-employed came from health issues I was dealing with at the time, and I had negotiated with my employer (who was luckily flexible) to reduce my hours to part-time before deciding to start my own business. That served as a transition period in itself.

Chronicle.lu: In setting up your own business, did you receive any specific help, e.g. mentoring, or did you follow any specific training courses (either sector-specific or about innovation/entrepreneurship/setting up a business)?

Iryna Sagaidak: Right after leaving corporate employment, I took part in the Entrepreneurial Woman Project organised by the Luxembourg-Poland Chamber of Commerce. Afterwards, I had a few mentoring sessions with some of the project’s presenters. It was great to have these contacts and to draw on their expertise for questions specific to the Luxembourg market.

Chronicle.lu: Did you apply for any form of state aid or subsidy?

Iryna Sagaidak: No, I didn’t. At the time, I didn’t know this option existed, so it didn’t even occur to me.

Chronicle.lu: Please tell us about your experience of the administrative process, e.g. applying for a business licence, opening a bank account, registering your company, apply for a VAT number, etc.

Iryna Sagaidak: I’m very lucky in this regard: my husband is great with numbers and has a professional background in accounting and taxation, so he guided me through the whole process from start to finish. We had many dinner-table discussions about how to structure my practice, what made sense and what didn’t, and how best to proceed. He still plays a big role in advising me on the admin side and does all the accounting for my business. He’s recently embarked on his own self-employment journey, so if anyone needs help with setting up a business, accounting or general financial advice, you can reach out to him at Veritas Accounting Luxembourg... 

Chronicle.lu: How long after leaving corporate employment did you "open for business"?

Iryna Sagaidak: I started parts of my activity shortly afterwards, but the full opening happened about a year later (renovating the practice space took much longer than expected, as often happens in Luxembourg).

Chronicle.lu: What do you find the most challenging aspect of running your own business? Sales / marketing / administration / finance…

Iryna Sagaidak: In the first years, it was definitely marketing and sales. Now that I’m more established, clients increasingly find me through online searches or referrals. Yet I still need to put some time into staying visible, even though I’m far from enjoying it as much as working directly with clients.

Chronicle.lu: What lessons have you learned that you would like to share with others thinking of doing the same, i.e. leaving corporate world and setting up on your own?

Iryna Sagaidak: You need to be ready to plan things out and adjust your plan as you go, and above all, be very clear about your 'why'. Ironically, since becoming self-employed, I’ve come to see and appreciate the benefits of employment much more than I did before. At the same time, my 'why' – helping people find their way out of chronic pain the way I once did – is strong enough to see me through the ups and downs of running my own practice. So, overall, I’m happy with the balance of pros and cons.