Omar Wala talks life lessons for entrepreneurs
Challenges are a daily reality when you call yourself an entrepreneur, and Omar Wala has admittedly seen his fair share of challenges in his lifetime. Since he was young, Wala has admired his grandfather, and Wala’s sense of hard work comes from the hours spent working for him after school and during summer vacations.
Wala learned some of his biggest life lessons during his time working and traveling in his younger years. Having seen first-hand what entrepreneurship can do for communities, Wala wanted to bring that to his own community, despite any challenges he may encounter along the way.
Exploring the biggest challenges
Starting a business comes with many challenges. The first business that Wala ever tried to start was, unfortunately, unsuccessful. Still, through that experience, he learned that planning a well-developed team is crucial for a business’s success.
Even though Wala is currently flourishing, he still has to deal with the inevitable setbacks that come with entrepreneurship. How Wala addresses these setbacks, however, is what differentiates him from competitors in his niche. For Wala, the accumulation of capital was the first challenge he encountered. Construction, of course, requires a significant amount of capital to get started. Still, he was able to solve this problem by using income from various sources and reinvesting it, thus accelerating his success.
Setbacks can be temporary or ongoing. One of the ongoing setbacks faced by Wala is the hurdles that government agencies place in his path. City and federal programmes are constantly evolving, so Wala and his business team have to be well-attentive to these programmes in order to stay successful. If they did not embrace these programmes, they would not be able to serve the community as a whole.
Overcoming the salary and stability complex
Many entrepreneurs have likely contemplated pursuing a more typical nine to five salary job, but it was Wala’s grandfather who explained to him early in life that working a salary job only limits growth. Most people take these jobs because they offer stability, but that isn’t always the best option.
In terms of strategy, Wala looks to the book 'Think Big Act Small' by Jason Jennings, which encompasses what he looks for when it comes to scaling his business effectively. Wala looks at each day, taking the small steps needed to achieve his goals. Unlike other entrepreneurs who may try to overreach, he makes sure growth is natural. Taking too many big steps, especially at once within a business, can cause repercussions like negative cash flow, which Wala explains isn’t suitable for survival.
To be successful and to continue positive growth as an entrepreneur, the idea that stability can only come from a salary job must be overcome. Focusing on the passion and hard work of the entrepreneurial spirit is what catapults a business into a spotlight of success. Wala also warns others never to be afraid to take a small job to increase cash flow.
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