He dared to quit his job at the banking sector and follow his passion for business. He was brave enough to burn the bridges behind him and pursue his dreams. His wisdom and heart did not let him down! Today, he is the owner of a very successful wholesale food import and disribution, called Multi Agency General Trading. Meet Mohamed Mahdi Ferdousi, the man who can show you how dreams can be turned true!
Tell us briefly about yourself: Where you were born and raised, any special childhood memories?
My Name is Mohamed Mahdi Ferdousi. I was born on 10th of July 1977 at Manama, Kingdom of Bahrain. I completed my school education from Sacred Heart School Bahrain at the year 1995 and proceeded with my further education through correspondence from UK with London Chamber of Commerce and Industry and got my Higher Diploma in Business and Industrial Administration. Having completed my Diploma I joined the banking sector in Bahrain in 1999 where I joined HSBC bank and from there I completed my BSc in Banking and Finance from BIBF( Bahrain Institute of Banking and Finance. I left the banking sector in the year 2010 to start up my own business.
My childhood was a very normal stage like any other kid’s who enjoys life with a wonderful family around. At the same time I came to learn methods of Business from my Late Grandfather from my mom’s side Haji Khalil Ali Akbar Lari, who was a great merchant in the market and a very caring and loveable father at home to all of his children and grand children. From there I started learning being self-dependent.
Tell us about your enterprise and when and how it was founded.
This enterprise which has been running for the last six years was nothing more than a side business I used to run during my banking carrier. Then one day I just had to choose between whether I should be an employee for the rest of my life or establish my own entity whereby me and my family could depend on throughout my life and theirs. So this was the risk I decided to take and I established my side business as full- fledged business where I resigned from the banking sector on May 2010 and completed all the necessary formalities and the company Multi Agency General Trading started running officially in August 2010. We are food importers and distributors of nuts, sweets, dry fruits, seeds, pulses and catering products, mostly wholesale.
What were the initial challenges of establishing your business and how have you overcome them?
As some might know, establishing a new company is not easy, whereby lots of formalities have to be completed. Since I had chosen to be in the food business industry, so lots of ministries had to be involved like Ministry of Commerce, Minsitry of Health, Custom Directorate at the Ministry of Interior, arranging for a storage area etc, but luckily all the formalities where completed within the time frame that I had set and my target was achieved with special thanks to all the Ministries involved who with new system that they had in place made my life much easier and I didn’t have any difficulties.
What kind of a market is Bahrain for your business?
As we all know, Bahrain has been well-known for being the business hub of the Middle East, but with all the competitions in the region now, our share has reduced a lot after Dubai became the hub for the Gulf through its links and facilities in the Middle East. Therefore having said that Bahrain’s market has become small and the volumes have dropped, but yet we are far better than other countries in the region whereby each one is taking his own share in the local market and yet there is more room for enhancing our business.
What according to you are the essential qualities of a successful entrepreneur?
According to me, a successful businessman is the one who dissolves himself in his own business and takes away the unnecessary hierarchies in his organization. He should be a leader and not an owner or manager. At times he should be a labourer, an accountant, a receptionist, basically he should be everywhere and on top of things.
What is the most rewarding aspect of being an entrepreneur?
When you see yourself growing and expanding.
Where do you see your company in the next 5 years?
With a good focus and the right amount of self confidence, I would see my company among the top 10 names or food distributors in the kingdom.
If you were to own another enterprise in the place your current enterprise what would it be?
Tourism. Basically, in-house tourism; we are an island and we have a lot to show the world and thereby raise the name of our kingdom’s culture.
What is your message to aspiring entrepreneurs of Bahrain?
Work Hard, Work Smart and Fight your ego, pride and greed.