Rando Rannus

Could you tell your story?

First, imagine you have amnesia and have forgotten all aspects of your life. To remember who you are and the type of person you've become, please reflect on key moments, realizations, and milestones that have shaped your evolution from the earliest memories you can recall until the present day.

On one side, I am definitely a competitive person who strives to achieve something. But at the same time, I have this inner force that pulls me back, yet it tries to maintain balance. I think I had this realization more than 20 years ago. I was always driven towards success, climbing up the ladder, you know. But at some point, I started to wonder, "What's next?" and realized that maybe it's not just about external success but also about what's inside. It's about showing that success is not just a destination, but also a journey. So, I try to find a balance between being competitive and staying grounded. At least, I constantly strive to achieve that balance.

Did you have anything in your life that changed you completely?

I don't know if they changed me completely, but the 90s had a significant impact on me, especially from the early 90s until my university years in the late 90s. On one side, it was the collapse of the Soviet Union, Estonia's re-independence, and the recession. Those were tough times when nobody had much. I wanted to escape this difficult situation because during the Soviet era, we could watch Finnish television and see all the nice things there. It made us desire to have a better life. On the other hand, these challenges forced me to become who I am and learn to rely on myself. I lost my father at a young age, and then my mother as well, in 1994 and 1998, respectively. I was just 15 and then 19 years old. After my father passed away, I realized that I no longer had a safety net. I had to depend on myself and achieve everything in life on my own.

What drives you?

As I mentioned before, there was a time when achieving success and financial freedom was the primary goal. However, once you attain that, you start seeking balance in life—balance in various aspects. It's about managing the energy you expend throughout the day. You have 24 hours, and the aim is not to spend half of it on work but to allocate time for your family, learning new things, and gaining positive emotions from entertainment, arts, culture, and more. These experiences make us human and drive me to be the person I am today. Striving for this balance in life is what makes me a well-rounded individual in every sense.

When you decided to have a balance?

I think it was about 20 years ago, as I mentioned before, during the early stages of my career at PWC. When you enter the big4 system, they lay out the career progression: A1, A2, then senior associate, followed by the possibility of becoming a manager, senior manager, director, and eventually a partner. However, at some point, they reveal the not-so-secret truth that even after becoming a partner, there are still about 20 more levels to climb. It made me ponder whether I wanted to pursue this path for my entire life. Working in Tallinn, Estonia, I observed how others in different offices, especially in the US or Russia, sacrificed so much time for work and had little time for themselves. This made me question if this was the right direction for me. It was then that I had a realization—I needed to find a balance in life.

Did you decide to leave the PWC with the realization of needing a life balance?

No, no, I didn't stop at that time. I thoroughly enjoyed my time there, but I also used the system to my advantage. I had a desire to work abroad, but I didn't want to commit to long-term assignments, like spending two years in a US office continuously. So, I came up with projects that allowed me to work on shorter-term projects abroad - for a week, a month, or even half a year. I consider myself fortunate in that aspect. I had the opportunity to travel extensively across Europe, and I even had projects and meetings in Africa. It was a truly enjoyable time. However, at some point, I realized that it was time to make a change. I felt the need to build something on my own. I understood that it was now or never. Once you start a family, you become less inclined to take big risks. So, I saw it as the last chance to take a leap of faith and start something on my own.

What is more important, the result or the process?

I will quote one of my good friends, who, in turn, got the quote from someone else. He said about basketball, "Keep your eye on the ball, and the scoreboard will take care of itself." So, if you solely focus on the results, it becomes much harder to achieve them. However, if you concentrate on playing the game and enjoying the process, success will come naturally. This doesn't mean you're not striving for success; rather, you are actively participating in the journey. So, I believe it's a combination of both approaches.

How do you try to keep your eye on the ball in your daily life?

Essentially, you envision the future where you want to be, and then you break it down into small actionable steps that can lead you to your end goal. At any moment, you have the choice to decide: Should I attend that event? Should I send this email? Should I call that person? There's always a struggle inside, questioning why you should take action now. However, if you project yourself into the future and consider the impact these actions might have on the final result, you can then make a more informed decision about whether it's worth pursuing or not.

The theoretical question is, what would it mean for you to lose your business completely? What will you do? What will happen to you?

Well, firstly, I have diversified my portfolio, and I believe that's essential. I know it's something everyone says, but it's not just empty words for me. It's my approach. Having a safety net is crucial, especially since I don't have someone else to rely on. I've always understood that it's up to me and my abilities. So, I have invested in some real estate. It's important to have a place to move and live if needed. Having diverse assets provides a sense of security and peace of mind.

Where would you start if there is no safety net/no savings?

Firstly, having a safety net is crucial. I always recommend having some form of financial buffer, even if you don't own real estate or anything specific. Aim to have three to six months' worth of expenses covered. Once you have this financial buffer, take a month or two off to process what happened and find peace within yourself. Although I'm not sure if I could manage to take two months off entirely, I would probably start moving again after the second or third week. I would begin by making a list of things that excite me and start working on those ideas. To kickstart the process, I'd meet and network with people, making myself visible. I believe that connecting with others and being valuable to them will bring forth new ideas and opportunities. Then, I can assess which direction I want to pursue. For example, after selling my company, I decided to leave it as well. I spent one to two years on smaller projects, and when they finished, I faced the question of what to do next. Fortunately, I had some ideas in mind, and I started working on them. One of those ideas led to the secondary fund that I am currently running. It was a fortunate alignment of events, and I met partners who were equally enthusiastic about the idea. I've been through this transition in my life, and I believe that most people face similar challenges when switching careers. I had a framework for selecting ideas and determining the right path. I've shared this approach with some of my friends as well. Essentially, I mapped out all the ideas and looked for a central point where three different aspects intersected: something that excited me, something that could bring in money, and something I had expertise or knowledge in. The idea at the center of these three aspects is the one to consider pursuing. If it excites me and can be financially rewarding but lacks the necessary expertise, it would be challenging to enter that market. If it brings money but doesn't excite me, it becomes boring, and I wouldn't want to pursue it. Striking a balance among these three factors is crucial, much like what I mentioned earlier about finding balance in life. Currently, I am content with the central idea that emerged from this approach.

Are you a proactive or reactive person?

Both proactive and reactive approaches have their place, depending on the situation. No one can claim to be 100% proactive or 100% reactive; it varies based on circumstances. Personally, I lean more towards being proactive, but I'm definitely not 100% proactive in all cases. When it comes to decision-making, I tend to incorporate a higher percentage of rational thinking, maybe around 60-40% or 70-30%. I rely on a more analytical approach. For instance, when buying a car, I've made several purchases over the years, and most of the time, rational arguments win (e.g. buy Skoda). However, there have been a few instances where emotions played a significant role, perhaps around 60% emotions and 40% rationality. For example, the first time I bought a Subaru Impreza, it was more of an emotional decision. While driving the car was enjoyable, it had a small engine. Choosing a smaller engine was a rational decision based on fuel consumption. So, there is a constant struggle between the emotional and rational aspects during the decision-making process.

How do you feel about people in general?

I like to meet people and help them. So I think this is also what I have been doing most of my career. I am open to have new relationships. And not to have defined agenda before that, but see where it takes me. And I'm trying to understand the people, who they are, what is their agenda. And if there is a possibility, I always try to help people. One or the other way. Making connections. Advising them. I believe that this is a long-term strategy. And it helps, you can call it a karma. So if I give something to somebody else, then I will get something good, positive back in the future. Directly from the person, or indirectly, or through third connection. Or just the world gives me back. For example, we are here. I could have said no as well. But still, I believe that I'm stepping out of my comfort zone and giving the interview. Maybe this will help.

Are you holding onto negative emotions towards people from your past?

I don't think I have any... At least I personally don't think I have enemies or bad feelings. And even if there has been some misunderstandings, I try to smoothen them out. So that, yeah, I think it's a negative energy and there's no need that one or the other side has it. So I try to forgive and move on.

How do you react to pleasant and unpleasant situations?

It depends on the context. If there is an unpleasant situation that needs to be addressed, I will handle it without hesitation. No problem. It all comes down to the objective, similar to the idea of the scoreboard and playing the ball in basketball. For instance, in basketball, there might be an unpleasant situation where you have to block a shot and exert maximum effort, even if you don't feel like it. Your heart rate may reach 180 beats per minute, but you'll still run and give your best because it's necessary to achieve the objective. However, if it's an unpleasant situation and there's no clear connection or purpose, I would likely try to avoid it or remove myself from it. For example, during a canoeing trip last year with a large group of friends, we encountered a thunderstorm with heavy rain on the last day, during the last hour. It was undoubtedly unpleasant, and the kids were a bit afraid, and we were all wet and cold. But we couldn't just run away from it. Instead, we pushed forward with extra energy, paddling faster to reach our destination and get back to the car where we could warm up. It was a challenging situation, but the objective of reaching the destination kept us going. In summary, how I handle unpleasant situations depends on the context and the objective at hand. If there's a clear purpose and connection, I'll face it head-on, but if it's not essential, I'll try to avoid or remove myself from such situations.

What makes you happy?

Once again, I want to emphasize the importance of finding balance in life and experiencing it fully from different perspectives. I make an effort to express gratitude every day and every week. When I'm at home, I look around and realize how fortunate I am in life. I have a beautiful home, a loving family, and healthy children. I am grateful for my wonderful job and the fantastic partners I work with, who not only share business endeavors but also bring joy and laughter to my life. My personal health is in good condition, and when I look in the mirror, I feel fitter than I did ten years ago. I find gratitude in all aspects of my life. Taking the time to acknowledge and express thanks for these blessings brings happiness and contentment into my life. It helps me cherish and appreciate everything I have.

Do you do charity work? If yes, do you keep this action for yourself only or share it everywhere on social media?

I usually do it for myself. I don't feel the need to shout it out to others. It's more about my personal feelings and emotions. Doing charitable acts brings happiness to me, but there is no predefined plan for it. It's all about how I feel in that particular moment, whether I choose to engage in charity or not. The reasons for doing it may vary from one situation to another.

Do you eat a lot, and do you sleep a lot?

I wouldn't say I eat a lot. I strive to maintain a balanced diet, carefully monitoring my daily calorie intake as well as the proportion of fats, proteins, and carbohydrates. The most challenging aspect is keeping fats under control while ensuring an adequate protein intake. Despite being mindful of my diet, it doesn't mean I don't enjoy life. I make room for leisure days, but I balance them with extra workouts. I try to find enjoyment in life beyond just eating and lounging on the couch. As for sleep, I consider myself lucky as I typically get seven to eight hours of sleep each night, and I thoroughly enjoy this restful period.

In terms of self-discipline, do you have something that you do regularly?

I started quite recently, last year, and now I have been practicing for a year. Every morning, I follow a 20-minute workout routine. I've been consistent with it almost every day since the past year. This routine has proven beneficial for both my physical and mental well-being, helping me stay in better shape.

How it helped you from a mental point of view?

It's like when you don't do it, you feel a bit sluggish in the morning. You move slowly, taking more time to wake up and get everything in order. But when you do it, it's like a special energy boost flowing through your veins. You feel much more awakened and ready to take on the day.

How were you able to keep this self-discipline over the year? Because sometimes people start to think about excuses, why not today, and so on. What have you been using to keep that?

I started because I had gained a bit of weight, and I wanted to get in shape. So, I began by monitoring what I was eating and incorporating an everyday workout routine. Going to the gym a few times a week wasn't enough for me, so doing a 20-minute workout every day seemed more effective. It adds up to more minutes overall. To keep myself on track, I started using an app to log my food intake and exercise. It serves as a reminder to record my progress, and over time, it has become a habit. Admittedly, the first few months were a bit challenging in establishing the routine, but now it has become a regular part of my life, and I don't have to think about it as much anymore.

How do you understand the term “call of the soul”?

I think it's something that motivates you. You might be familiar with Daniel Pink's book, "Drive," which discusses how intrinsic motivation comes from within, pushing you to move in a certain direction and achieve specific goals. This applies whether it's in business, sports, personal health, arts, or any other area. The desire to constantly improve and become better at something is what defines me. I believe there is always room for growth and progress, and this inner drive is what pushes me to keep moving forward and strive for betterment.

How will you help your kids to find the call of the soul for them?

Firstly, I believe in monitoring the type of persons they are and understanding their interests and preferences in life. Once I have a clear understanding, I try to reinforce those interests. For instance, if one kid is more inclined towards sports, I engage in activities like playing football with him. On the other hand, if the other child enjoys reading and has good logical thinking, I try to involve him in puzzles and brain teasers. However, it's not just about activities; it's also about being a positive role model for them. I try to demonstrate the values and behaviors I want them to adopt. It's a combination of recognizing their individuality and nurturing their interests while also sharing activities that I personally enjoy. By showing enthusiasm and passion for what I do, I hope to inspire them to explore similar interests. It's about fostering a supportive and nurturing environment where they feel encouraged to be themselves and pursue their passions.

Can you name several inner wins that you're proud of internally?

Well, probably if I were to go back in time, I would find that I, like any other person, was not born as a natural presenter or someone comfortable being on stage. So, this is something I take pride in – the fact that I have learned to present and even enjoy it. My journey in public speaking started during my university days. Initially, I had to present to a small group of around 30 people, but as my career progressed, I found myself addressing larger audiences. Over time, I moderated conferences with hundreds of attendees, and I even got involved in the backstage work, helping build and organize entire conferences. Through these experiences, I learned that every detail counts in successful presentations. Understanding how I started off as a young individual who was afraid of public speaking, but eventually grew into someone who can confidently address an audience, has been a significant personal development for me. Now, it doesn't matter whether there are 30, 300, or 1000 people in the audience; I can easily go on stage, speak, and not be afraid of it. It's a skill I've acquired and something I am proud of in my journey of personal growth.

What about your principles?

Well, it's a bit of a principle for me, which is again linked to my balanced way of thinking. I believe in going with the flow and trying to see what life brings my way, embracing and enjoying those experiences. It doesn't mean I relinquish control entirely, as I still make decisions about the direction I want to take, similar to choosing a path while crossing a river. This principle of going with the flow is something I've tried to adopt and integrate into my life.

Do you have some other sports activity?

In my youth, I was involved in various activities. I excelled in athletics, I even won some medals at the Estonian youth championship. However, due to changes in my family situation, I had to shift my focus to building a professional career. During that time, I came to the realization that while I could be good at the Estonian level, becoming a world champion was not a realistic goal for me. So, I decided not to invest too much effort in pursuing that pathI shifted my focus to playing different ball games. Unfortunately, due to injuries, I had to scale back my physical activities in ball games.. These days, I mostly stick to morning routines, going to the gym for cross-training or other own bodyweight based exercises.. This has become my regular fitness routine. Occasionally, I find joy in playing beach volleyball or going to the golf course, but these activities are more sporadic and don't follow a strict routine. Despite having to adjust my physical activities, I am content with my current exercise routines and still find ways to enjoy sports and stay active.

Do you do anything for your self-expression?

I go to art exhibitions even though I don't create art myself. I enjoy visiting art exhibitions and getting to know the young artist scene. Additionally, I actively participate in young artist auctions, which is another aspect of art appreciation that I find enjoyable. You don't necessarily have to be an artist to appreciate art; there are various ways to enjoy and engage with it.

Have you had anyone who influenced you a lot?

Definitely, friends and family have a significant influence on me. However, I would say that every person who comes into my life, in one way or another, has an impact and offers valuable lessons. So, it's not just limited to friends and family; it extends to all the people I encounter along my journey. Nevertheless, I agree that friends and family hold the most substantial influence in shaping who I am today

Are you reading books?

From time to time, I do read books, but I have to admit that I'm more inclined towards consuming long-form content online. I find myself reading newsletters that offer well-written, analytical articles, which I find more relevant and up-to-date for my interests. It doesn't mean that I completely ignore books; I do read a few of them per year, but my reading habits are more focused on online long-form content.