An inside look at starting your own business.
By Majed Farah, Contributing Writer
Your business is a living organism. I describe my business as my “baby”. In the beginning I had to be there day and night to give it life. As it grew, I had to hire a babysitter (employees), and we all know we would never leave our baby with unreliable people around. I began to look at my business as an extension of myself. Just as a child would embarrass you so can your business, and that is the moment when you realize there is just a little bit more to this than you thought.
The type of business have is irrelevant. Every business no matter the size or the industry it operates in has it challenges. It is up to you as a business owner to be able to see these issues ahead of time. I found that being proactive is a much better alternative than being reactive. Going back to our baby metaphor, when we see a puddle of water on the walking path, we pick up our child. That’s being proactive. If you didn’t pick up your child, you’ll have to go home to change clothes, shoes, and socks. That’s being reactive. If you see a problem developing, fix it, there is no time for procrastinating here. Keeping an eye out for these issues will save you thousands of dollars in the long run.
Being present and being attentive in your business makes all the difference. It creates a sense of security for your employees, first and foremost. People love seeing the owner and love interacting with them. The words of recommendation for your place of business, coupled with “I know the owner,” is a badge of honor for many and they take pride in knowing you.
Being immersed in the community shows you care, and it gives you an opportunity to stand with your community in times of need. If someone got married, you can congratulate them. If someone passed, you can console a family member. These little acts of kindness touch people. There are many levels to being active in the community and depending on the type of business you own, the level and type of contribution can vary vastly.
Your personality is your secret weapon here folks. It’s a driving factor for your future success. Your work ethic, your determination, your human spirit will all be tested. Failure is not an option in this scenario, your family depends on you. Are you still with me? If you are, next month we will get into a more technical topic of Limited Liability Company and the benefits of creating your future business under this structure.
About the Author: Majed Farah operates Jake’s Vape Shop in Pelzer and leases commercial and residential properties through Farah Enterprises based out of Simpsonville. He studied business at the Davenport University in Michigan and moved to Upstate South Carolina in 2005. Farah owns and leases several commercial properties in Woodruff. He’s worked many jobs over the course of his career, from janitor to cookie maker to entrepreneur, all in the pursuit of learning what types of business he liked. Throughout the course of his column, Farah will touch on the right tools you need to create and structure a business to be successful.