Dr. Farrah Gray, an American businessman, author and motivational speaker, began his entrepreneurial journey at the age of six and became a millionaire at 14. He shares the success story with MAUREEN AZUH
What inspired you into the business enterprise at the age of six?
I am somebody that likes to accomplish goals having been poor. I was uncomfortable, my family was uncomfortable. I wanted us to live a better life and I knew it was possible because other people on television were living amazing lives. I saw that disconnect between our reality and television, so I started trying to help my family. I started selling hand-painted rocks on the street that was my first business. I got one idea and another and yet another and I continued because I saw that was my ticket out of poverty.
So that was my reason of motivation most probably. Now that you have success, what drives you?
Being able to give back to my foundation, the Farrah Gray Foundation, which represents my personal income; giving scholarship; I teach young people entrepreneurship, personal planning and leadership. What drives me really is the ability to give back, planting those seeds that I believe will be harvested tomorrow and the next day. Success is a significant thing that I think all of us should reach a level of it.
What do you recall of your childhood outside doing business; were you like other children?
Absolutely, I did everything that other kids did; I just decided that I wanted to control my own destiny. Like other kids did summer jobs, my summer job was my business that was the only difference. I did all the other things that normal kids did; I lived a regular normal life. I am just an ordinary person who has achieved extraordinary things. I am not one in a million; I would say I am one of the millions.
There are so many Farrah Grays in Nigeria and that is one of the things that the Farrah Gray institute will bring out and foster, so that they can shine brighter than other youths around the world.
You impacted people on the Wall Street. What motivated you to own a business on the Wall Street?
I created the Student Venture Capital Fund. Wall Street is the lifeline of business around the world; if you are on Wall Street then you have really made it. So we wanted to, myself and other friends and members of my organization, which is called the New Early Entrepreneur Wonders – NE2W. I had the education component and the capital component. I had to use education as it relates to being a successful entrepreneur and we became candidate for potential big capital. And again, Wall Street is a model to the rest of the world.
How do you manage yourself and your business?
I don’t have anyone who manages me but I do have managers that manage my company that I put in strategic places. I believe if you have been in business for over five years and you don’t want to be caught up too much into micro-management then you need to bring people on, that way, you have people to work with because everybody plays a part in a team that ultimately allows the team to be successful.
When you visit developing countries like Nigeria, What do you say to youths?
My message to the youth is that regardless of your circumstance, regardless of how hard it may be for you from day to day, be rest assured that the talent and gift of God has been given to you. I believe we are all blessed and gifted.
But it is only when we realise it that our blessings are taken to the next level. Pay attention to that; hope is on your talent; hope is on your gift, take action even though you may have all the responsibility, take at least 10 per cent to 20 per cent of your time and dedicate it to your dream every single day. I would say dream is that action that is sleeping. So it’s very important. I see young brothers and sisters asking ‘how did you do it?’ I have seen them every day I have been here selling products, I saw young men working so hard and you could tell they needed financial resources. I saw some washing people’s windows in the rain. The Farrah Gray Entrepreneurial Institute, I think would be able to cultivate and propel them in the right direction, where they might end up the next US dollar millionaire.
What are some of your marketing techniques?
Marketing is everything. Bill Gates said that “if you have just $2 left to spend, spend one on marketing”, that’s very important. Now the social media is a very powerful component, the media is a powerful component, creating and printing collateral material and giving them hand to hand is very important. Your visibility is just as important as your ability, you have to go out and let people know that you exist. If I don’t know you, I can’t do business with you.
Do you think financial principles in a developed country is still relevant here in Nigeria?
It depends on the financial principle but generally they work and apply universally, no matter where you are whether locally, nationally or internationally, when you have a balanced foundation of principles.
Source; Punch Newspaper
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