Tevfik Arif of Doyen Group Secret On Competitive Business
Tevfik Arif of Doyen Group is a businessman and real estate developer born in 1953. He has a Turkish background. He studied in Moscow University and graduated with an international relations degree. He is famously known for founding Bayrock in 2001.
Tevfik Arif Doyen is a renowned international businessman. Having worked for the USSR’s in the ministry of commerce and trade for 17 years, he has different exposure and experience in the business world.
He is one of the most dynamic people especially when it comes to entrepreneurship. He finds gaps in the market and fills them professionally. In 1991 he founded a trading company that dealt with metals (especially rare metals), chemicals and other products. The venture was very successful and gave him exposure to other investors. Experience and profits gained from this venture enabled him to start other businesses.
He has majored in ventures, Bayrock being one of his greatest inventions. To obtain a competitive advantage in the market having vibrant skills will usually make you successful. In his business, he always wants to be outstanding, satisfy and retain his customers while still creating new inventions.
For your business to have a competitive advantage, you need to expand its operations. Tevfik Arif in 2001 founded Bayrock. Bayrock was located in the USA and later moved to Donald Trump Towers. Bayrock is a real estate development company. Its first major project was redeveloping a waterfront shopping center. The redevelopment of the shopping center, which is located in Sheep head Bay, was a significant boost to the company and allowed it to grow diversely.
It is one of the strategies he has incorporated to make him an outstanding investor. Bayrock is also known for its operations with Donald Trump. Arif partnered with Donald Trump on projects like SoHo and Trump International Hotel and Tower. A business cannot depend on day to day activities to be highly competitive. It has to invest in other ventures, take risks with other investors, and look for niches in the market.
He also founded Doyen Group in the football industry. In Doyen, he acquired transfer rights of the team players. It’s another significant expansion of his business; he got a certain percentage of profits to transfer players from one team to another.
Tevfik Arif (Doyen co-founder) majors all his business success in his ability to invest in many ventures. He has expanded his business operations to gain more profits and success.
3) Skilled Employees
Your business cannot be outstanding without the right personnel operating it. You as the investor need to have the relevant skills to run it and make it competitive. Tevfik Arif co-founder in Doyen group have studied a degree in International Relations for once had the right skills to make his business a success. Another key quality that makes his business very successful is the experience of working with the ministry of trade and commerce in USSR. As a worker in the Ministry of Commerce, he had all the resources that he needed to make any business grow and be successful.
Trusting your company’s operations to skilled personnel is also another major secret of making your business very successful. Arif in 2003 hired Felix Sater, an experienced businessman as the managing director for Bayrock. Felix had a lot of experience in running businesses and the right skills to make Bayrock a success.
To obtain a competitive advantage in the business world as viewed by Doyen group managed by Tevfik Arif, hire the right personnel to do the job. If you want clean account records, employ skilled accountants and auditors, if you’re going to market your business, employ experienced market managers.
Tevfik Arif from Doyen group is famously known for venturing into business with Donald Trump. In business, you need to make friends who will help you grow. He stated in one of his interviews that Donald Trump opened for him away and made his business a great success.
Arif advice to entrepreneurs is forming a partnership with people who will help your business advance. His collaboration in the SoHo and Trump International Hotel and Tower with Trump yielded a lot of profits. The partnership will not only increase your earnings, but you will outsource skills and knowledge from your partner. Business is more successful with combined efforts and resources. Adopting the partnership strategy will help you have a competitive advantage.
5) Risk Taking
No business venture has guaranteed returns and profits. The moment you are afraid to invest due to the fear of making losses, then you have lost in your business. Tevfik Arif is a risk taker and that what’s makes him an outstanding business person. He has majored in many risky business ventures.
Risk-taking as he views it can be a source of a great venture. High risks ventures have the highest profits. His only secret when investing in risky ventures is always known what you are getting into and be prepared for any outcomes.
Being a risk taker will ensure you have a competitive advantage in the market. You will always be outshining your competitors who are fearing to make the inventions due to associated risks.
It is another strategy that Tevfik Arif has adopted to make him very successful. The profits you gain in one venture always reinvest it in another venture for more profits. Arif founded Bayrock from profits of other businesses. Through Bayrock, he partnered with Donald Trump in SoHo and Trump International Hotel and Tower. He also founded Doyen through Bayrock.
If you want to have a competitive advantage over your peers in business, then re-invest your money. Money stored in the banks is not profitable and will eventually be consumed. Re-investing the cash is securing your future and that of your family. Arif formed Doyen and secured it as a family business.
Tevfik Arif is a highly successful international businessman. Any entrepreneur willing to adopt this strategy will not only be successful but also have a competitive advantage in the market. He has embraced all the plan and has remained to be a renowned business maniac especially in the real estate business.