Few business leaders have achieved the results of CEO Ali Mayar at Platinum Rapid Funding Group. The firm is a leader in the merchant cash advance space, purchasing future receivables so that small and medium-sized businesses can access the working capital they need for growth today.
Ali Mayar gives his team the guidance and skills necessary to make all of their team members’ dreams a reality. He has proven to be an exceptional leader by getting the most out of every staff member they bring on board. Recently, he gave us the opportunity to pick his brain on his business career and the advice he has to offer aspiring entrepreneurs.
How did you get started in the business world?
My first job was actually in corporate security, a field I enjoyed without having any particular passion for. While in that line of work, I was exposed to the alternative financial solutions industry. I was hungry for a new professional challenge, so I launched Platinum Rapid Funding Group in 2012 to help smaller entrepreneurs grow their startups into business empires!
What characteristics do you look for in new employees?
That is such a good question! I read a great book by Patrick Lencioni titled The Ideal Team Player that has informed my hiring decisions ever since. In the book, Lencioni recommends looking for three attributes in all prospective hires. The first is humbleness, ensuring that clients get the superb customer service they expect. The second is hunger, or an insatiable drive to learn new skills and work hard on behalf of clients. Finally, hiring smart people ensures that their efforts will produce the best possible results for the hiring firm.
It’s also important to hire individuals with interest in the company, not just the paycheck and other benefits they can expect from working there. The ideal employee will view their own growth and that of the company as one and the same.
I firmly believe that surrounding yourself with the right people is a key step in the development of any successful business enterprise. My own team at Platinum Rapid Funding impresses me every day, and I know I owe a lot of my success to them.
How do you inspire leadership in others?
I find that the best way to start is to lead with your own example. If you demonstrate a clear passion for what you are doing, it frequently proves infectious and inspires your team to follow your example. This way, you know that your business is in good hands even when you’re not personally present to monitor it.
I also have no problem mentoring employees and friends to help them progress in their careers, even during personal time. It’s just always been a passion of mine.
Can you share a strategy that’s helped you grow Platinum Rapid Funding?
It is so important to set clear goals and deadlines for achieving them. Without them, it is just too easy to procrastinate until opportunities are lost. At Platinum Rapid Funding, we have short-term goals to accomplish daily plus longer-term ones geared for 6-12 months down the line. It provides a clear direction for the company while ensuring that we never miss a critical deadline.
How do you draw inspiration for yourself in business?
The most meaningful part of working at Platinum Rapid Funding is the positive feedback we get back from our satisfied clients. Knowing that you helped somebody else achieve their dreams easily provides the motivation necessary to do it all again the next day.
Are there any books you’d recommend to aspiring business leaders?
I’ve always been a big fan of How Google Works by Eric Schmidt. It discusses the corporate culture and hiring processes that helped Google become the internet-changing Goliath it is today, a story that should provide inspiration to any entrepreneur.
If you’re looking for something more practical, The Ideal Team Player is a great read to learn how to hire the right people.
What’s one piece of advice that has helped you grow as a professional?
I’ve been the beneficiary of so much great advice that it’s hard to single out one thing, but I’ll say the avoidance of thinking about your business strictly regarding money. If you have a viable solution to a real need in the marketplace, go for it! The money will work itself out.
