Ali Mayar is the Chief Executive Officer of the Platinum Rapid Funding Group, an entity with a solid reputation in small business financing. He is well known for playing a key role in mentoring upcoming entrepreneurs and members of his staff. The group’s success is driven by the experience of the company’s management team.
Ali Mayar is enthusiastic about sharing entrepreneurial advice based on his professional experience in the field of business financing. He has published a number of articles and videos covering various topics, including small business management.
You’ve seen recent growth with Platinum Rapid Funding, how do you manage the success?
Yes, Platinum Rapid Funding Group has registered significant growth in recent years, which is something I am particularly proud of. I have an amazing team that is dedicated to delivering results. Together, we have been setting new funding records through indirect and direct channels.
Our operations as a merchant cash advance provider have experienced a boom from 2015 to the current financial year. In 2016 alone, we managed to originate more than $180 million business funding deals.
The growth has allowed us to expand the staff complement and expand our office setup. As the team expands, there is a need to provide more office space in our current office premises. I can say with confidence that the future looks bright. The best part is that the growth of the Platinum Rapid Funding Group is a blessing for many aspiring businesspeople. We will be in a position to assist more small business owners realize their dreams through affordable funding.
We achieved success by setting achievable goals and formulating effective strategies to maintain operational balance. We use revenue target as an important scorecard for measuring growth. Personally, I strive to keep my team motivated and focused to ensure continued growth. Every year, I take time to go on vacation and reflect on the achievements and plan for the future.
How do you handle failure?
Tenacity is one of the most important qualities of a successful entrepreneur. I pride myself for having an indefatigable spirit, which allows me to work hard towards my goals without distraction. I treat setbacks as learning opportunities; the best lessons in life come from failures. This allows me to avoid repeating the missteps of the past.
Despite all the challenges that I have faced, I have never doubted that I can take the Platinum Rapid Funding Group to dizzy heights. Unwavering self-confidence plays a central role in ensuring success. When the CEO of a business demonstrates confidence, it rubs off the rest of the team.
I am convinced that my success is due to outstanding self-belief. In addition, I believe in the abilities of the amazing people around me, my team at the Platinum Rapid Funding Group. On the other hand, work ethic is a key factor that makes a difference between success or failure. I strive to achieve the much-needed balance between work and play.
If failure is handled wrongly, it can create an insurmountable mental obstacle. It exposes weaknesses that most people are not prepared to face. Fortunately, I am not one of those people; I reflect and learn from my missteps with the aim to plan effectively.
What’s the best advice for leaders you could give?
It is important for aspiring entrepreneurs to venture into a field they are passionate about. This makes it easier to stay motivated even when the chips are down. It is possible to fail even when one has the required skillset.
Skill must be combined with passion. Doubt is a self-defeating emotion that can smother an individual’s entrepreneurial dream. Challenges or failure is a no normal part of the learning process.
How do you motivate employees and team members?
I make an effort to praise and reward my staff for their hard work and innovative ideas. I am always open to new ideas from every member of the staff regardless of rank.
What’s one business trend that really excites you?
The number of innovative projects that are changing lives in our communities is an exciting trend. Young people are breaking new ground and disrupting the status quo. From tech startups to new businesses in the services sector, we are witnessing the establishment of exciting ventures like never before.
What’s one book that you’ve read recently that you’d recommend to aspiring entrepreneurs?
Leaders Eat Last by Simon Sinek is a new favorite of mine. It’s about how to create a work environment and culture where employees feel safe. The book was reassuring, knowing that Platinum Rapid Funding is on the right track. I’d recommend it to anyone that is new to managing people or interested in growing their teams.