Wednesday, January 19, 2011

Mr. Sayegh, Michael / Chairman, Sayegh Group



Company Profile:
National Paints was first established in the year 1969, and today ranks 23rd amongst the world’s 100 largest producers of paint and coatings, the 15th amongst the 50 largest producers of paint in Europe. It is the largest paint producer in the Middle East and ranks number one with total production capacity exceeding 300 million litres of paint per year. With such a production record, National Paints is considered a leading provider of high quality paint products.
National Paints currently owns 18 factories spread across the world, launching first in Jordan and then onto the United Arab Emirates (UAE). National Paints’ Factory in Sharjah UAE is considered to be the largest production complex for paint products and related material in the Middle East and the Arab World. There on, National Paints spread it’s operations to Qatar, Sudan, Palestine, Kyrgyzstan, Kazakhstan, Oman, Romania, India, Iran, and Egypt. It’s products are exported to over 60 countries worldwide. In addition, it has showrooms spread across Russia, Syria, and Lebanon.

How did you start your business?
My first work experience started while I was still a young school boy. In our family, it was customary to start working at an early age in order to benefit from our elders knowledge. I worked eagerly alongside my father, who in 1949 established his commercial business by opening a shop in Amman, which specialized in the trade of imported paints.
In 1969, my uncle, bother and I established the National Paints Factories Company, whilst I was still a student at Jordan University. We faced extensive challenges in obtaining the licence to open a paints factory as at that time, the importance of giving blocked protection for some factories was clearly understood and abided by. Customs duties were constantly being raised on imported goods and the government ceased to give new licenses.
On January 2, 1979, production finally began. However, the internal security conditions remained unstable due to the continuous conflicts between the governments and the Palestinian organizations. In spite of all the prevailing circumstances, we took the risk and went ahead with production. In 1971, I graduated from University and concentrated on the career that lay ahead of me.

When you first started your business, were you expecting that it would become not only your full-time occupation, but also a growing company?
As any entrepreneur, I was always wholly committed to my work in the factory, and my focus was always directed on achieving the company’s maximum growth. I did not have any expectations, only hard work and dedication.
In a short period of time, our shares in the Jordanian market started to flourish and we began to focus on future growth. We went to build another factory which allowed us to increase our production and exporting capabilities in order to compete with adjacent markets. In turn, this helped us amplify our sales quite considerably. Our successful industrial activities motivated and encouraged us to further expand the business. In 1977, we went to establish our first factory in Sharjah, UAE.

What is the most rewarding thing you have accomplished and why do you cite it above all your other accomplishments?
As mentioned previously, the Jordanian market and economy were limited. This inspired me to look in foreign markets in order to increase the company’s possibilities of expansion. After the first successful establishment of our branch in the UAE, I seized the opportunity to expand into several markets, such as Sudan, Qatar, Kazakhstan, Palestine, Egypt, Romania, and most recently the Indian and Iranian markets.
Hence, I believe that one of our biggest accomplishments was our ability to surpass and grow beyond the local market, making National Paints one of the best recognized paints and coating manufacturers in the entire region. Furthermore, we were able to successfully use our accomplishments in the paint industry, to expand into other sectors of the market such as various industrial fields; as well as, banking, real estate and broadcast television.              

What were the biggest challenges you faced as an entrepreneur and how did you overcome them?
Expansion was one of our biggest accomplishments and challenges. Another great challenge we faced was the collaboration and constructive communication patterns between the partners of the company, my brothers, nieces and nephews, and my children. Nonetheless, we continually deal with each and every obstacle as it comes. Through open communication, continued collaboration and hard work, I believe we can overcome anything.

What do you think it takes to be successful in the industry your company competes in?

I believe that there are many factors that go into the continued success of the business.
First and foremost, we are always researching the latest technologies and trying to keep up with new market trends. We always strive to be market leaders; therefore, we continually look for new ways to improve and develop the business. Moreover, our continued expansion allows us to be present in as many markets as possible. Hence, we gain from the knowledge and economies of scale that each market has to offer.
Secondly, we always put extensive effort into human resources and in the training of our staff. A business is only as good as the people who work for it. For this reason, we are always looking to keep our staff well informed and up to date with the ins and outs of the business. We always search to hire the best people who will be as committed to the company as we are.
Last but not least, we believe that having a strong managing team is extremely important to a successful business. Therefore, we communicate constantly with one another. We always look for the most suitable system to run the family group in order to preserve the success of the business and keep it soaring for future generations.

What advice would you give to those contemplating starting their own business?
It is crucial to be continuously dedicated to your business. You might face disappointments in the beginning, but you must rise above the challenges that you are faced with. Always be willing to try harder to overcome any obstacles that stand between you and the success of your business. Once you get the company on its feet, you need to always be looking for new ways to develop it and separate yourself from your competitors. Hard work, commitment and patience will ultimately lead to achievement.

What is the question I did not ask, but should have?
I think you could have asked me “when do I plan to limit my ambitions?” The fact is ambitions really have no limits, despite how old you are. Organizations can and should be succeeded by the future generations who have gained experience from observing our tactics, administrative planning and distribution of responsibilities. They should go on to make an even bigger success of the company that we have.

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