Tevfik Arif shares how to be your own boss

In this article, founder and former CEO Tevfik Arif invites us to hear his take on becoming your own boss. From a vast background in international real estate investing, he serves as a mentor to many aspiring self-employers. Running a business can be simple yet highly advantageous. In this article, Arif will guide you through his journey and how to start building your own business and independence.

Tevfik Arif says that building a business can give you more freedom of choice and access to creative initiatives that other jobs don’t necessarily offer. Becoming your own boss could be the next step in exercising your most innovative ideas while impacting the communities you care about.

Three tips on running your own business

Some key elements are required to run a business and become your own boss. Tevfik Arif understood these elements through his array of projects in real estate. Read on to find his top tips on officially starting the journey to becoming your own boss.

Find the right industry

To keep up with a business, you must first break into an industry that fits the current market’s needs. Arif recommends discovering a market that can use your expertise or product idea long-term. It may be an industry you are already passionate about or another area you can learn more about. Hiring a team and recruiting partners is also wise if you plan to establish multiple businesses or large-scale deals.

After you find the right industry, you’ll start exploring your target audience and their specific psychological needs. This way, any product or solution you offer will be necessary for the demographic and easily noticeable to them. Becoming your own boss starts with finding the right market solution, introducing it to a target audience, and continuing to innovate and scale the product based on the audience’s needs.

Brush up on skills and trends

After you find the right industry, ensure you keep up with the latest trends in your field. This will be essential in growing your current audience, attracting interest, and implementing new solutions based on market relevancy.

Skills you can implement could be anything from sharpening your goal setting to learning the various business model options. Today, there are millions of resources to use and improve your skills. Conferences, for example, are a great opportunity to network, brush up on skills and trends, and hear from experts in your field.

You may already have skills from university or other work experience that you can use to your advantage. Review your education and work history to map out creative avenues to implement your existing skillset. Based on that, find new opportunities to gain deeper knowledge and combine the two for a higher likelihood of succeeding in your new business.

Hold yourself accountable

Accountability is a key indicator of whether your business will flourish or crash. As a regular employee, tasks and hours may be obvious and easy to uphold. However, becoming your own boss and business owner takes scheduling and accountability to a new level.

Arif suggests scheduling your workdays in an hourly calendar and noting other necessities like family time or health management. Following a schedule, setting up routines, and understanding when you perform best will all be essential to this process.

Moreover, pay attention to your business spending habits, as these will be crucial to hold yourself accountable on the financial level. Matching business goals with financial goals is essential to keep a company thriving. So, be sure to stay on top of aligning your impact goals with finances before starting.

Always consider the current state of your industry and the economy overall. This way, you can more easily manage potential crises or shifts in your business while staying in line with your audience’s and market’s needs. According to Arif, you can always come prepared for a dilemma by researching and listening to your audience.

Tevfik Arif’s jumpstart in finding his passion

Tevfik Arif grew his empire coming from a modest background. He was raised in Soviet Kazakhstan, a tense and controlled environment. Nevertheless, Arif made the most of this period’s economic and political situation. He pursued higher education and a career in government. Government jobs in Soviet Kazakhstan were highly praised, as it was one of the top career paths of the time and region.

Through his government roles, especially as deputy head of the Hotel Management Department, Arif found his love for real estate investment and development. Once he left his 17-year chapter in government, he moved into the private sector to initiate influential and successful real estate ventures in hospitality. Some of his famous work includes the Trump SoHo luxury hotel in New York and the Labada Hotel in Turkey.