Ashfaq Shah speaks about his power back-up solutions business, Gem Power Solutions, his association with BNI and its role in expanding his business network
Starting his business
Ashfaq, a prominent businessman hails from the field of IT, having significant experience working with leading multinational companies for over 10 years. Speaking of his business venture and how it all began, Ashfaq mentions that most of his family members come from a business background, following which, he felt the need to join the family business and expand its dimensions across various areas in Goa, that had already been in existence and operational for over 40 years.
Ashfaq primarily deals in the business of batteries and power back-up solutions and has been proudly associated with Exide since their arrival in Goa. Subsequently, he started dealing with allied industries like the business of inverters, generators, stabilizers and most recently with solar solutions.
Speaking of what led him to start his business, Ashfaq says, “Most people look for a single city in search of optimal business opportunities and we realised that the business environment in Goa was very conducive. Also, the customer base and vendors here are trustworthy and the level of competition is always based on good service rather than on price alone!”
While elaborating on the challenges that he has faced in running the business, Ashfaq says that the varieties of cars and automobiles on Indian roads have grown manifold following which they are expected to maintain over 50 different types of batteries in stock at all times.
The demand for inverters and constant advertising strategies compel them to have multiple brands of inverters. So also, logistics is also a challenge in Goa with local transportation requiring improvement, he says.
Ashfaq mentions that BNI has enabled him to understand multiple businesses as he meets different businessmen each week. He says that BNI has taught him the importance of long term business goals that are always built on strong relationships
The BNI Edge
Speaking of his association with BNI, Ashfaq speaks of how he has always missed formal meetings and corporate culture in the business world. He further speaks of how he finds it strange that his initial motive behind associating himself and his business with BNI was solely to attend a formal meeting once a week and after over eight long years of being associated with BNI, he realised and completely understood how vital it is to be part of a well connected networking group.
Further, he mentions that his connection with BNI has enabled him to understand multiple businesses as he meets different businessmen each week.
According to Ashfaq, this is a practical example of how collaboration can work if utilised in the right manner. Ashfaq also mentions that 60% of his business comes from referrals that he receives through BNI.
The COVID-19 challenge
Speaking of how the ongoing COVID pandemic has affected his business, Ashfaq says that almost every business has been adversely affected, no doubt; however, in his case, most of the business comes from the tourism sector via hotels, casinos, taxi services and so on. Nonetheless, he has utilised this opportunity to work on his business retail counter, clearing pending paperwork, accounting chores and well as staff training.
The Future of Business
Ashfaq says that BNI has taught businessmen such as himself the importance of long term business goals that are always built on strong relationships. He further says, “we are working on building relationships with our existing clients, who in turn, constantly refer us to new customers.”
Finally, commenting on his overall opinion on the business scenario, Ashfaq signs off saying, “We are doing well in our current scope of work and look forward to expand our footprint by adding 2 more stores in the next 2 years”
