EntrepreneurshipTariq Farid

Sharing Growth Strategies With Other Connecticut Business Leaders

posted by Tariq Farid July 25, 2017

I recently had the opportunity to attend an incredible gathering of like-minded individuals for a dynamic event called “90 ideas in 90 minutes!” The Hartford Business Journal brought together executives from the Hartford area to discuss how we grew our businesses and to share the key principles we practice in order to continue to achieve success.

Tariq Farid shares business advice with Connecticut business leadersNine executives from diverse industries including healthcare, marketing, food and beverage, and education gathered to share their 10 best ideas, hence, 90 ideas in 90 minutes! The event was designed to provide other business owners and executives ideas to help them improve their businesses.

These are the 10 ideas that have helped me to succeed in business and continue to expand and grow with Edible Arrangements:

  1. Don’t chase money, it runs really fast.  Do the right thing and it will chase you — Always have a customer-first approach; focus on making your customers say ‘WOW.’
  2. The 60%, 20% and 20% Rule — Spend 60% of your time managing/planning for the future, 20% reflecting on the past, and 20% maintaining the present.
  3. Lead by example — To truly lead by example, it is important for the CEO to know everything about the business, whether it’s something as basic as how to program the security alarm to something as complex as the global vision for the company.
  4. Create your own business ecosystem — The more elements of your business that you are able to control, the more you are able to consistently deliver on your brand promise. Apple is one example of a company that has mastered this.
  5. Find a mentor; be a mentor — You learn as much by being a mentor as those you are mentoring
  6. Realize that sometimes you are the best person for the job. — When all else fails, trust your gut and believe in yourself.
  7. Look inside the company first for your next executive hires. — The grass isn’t always greener; look first for talent inside your company.
  8. Always be evolving — Frequently ask yourself, “if I were starting this business today, what would I do differently?” Then see if you can do those things now.
  9. Be philanthropic and socially responsible — Always give back to your community and the people that made your success possible.
  10. Even if you start small, Dream Big — Never impose limitations on what you can accomplish.

These ideas have helped shape my business philosophy, and played a major role in the growth of Edible Arrangements from a single shop into an international chain.

The “90 Ideas In 90 Minutes” event was a terrific opportunity to learn from other business leaders and gain insight into how they transformed their companies. I continue to learn something new every day in this business, and this event gave me a chance to learn from the best of the best, right here in Connecticut.

 

 

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