Company Profile:
Tantash Group is a holding company established with the objective of investing in businesses with a recognized high-return potential in the service, financial and industrial sectors. In the latter, Tantash Group has MIDPHARMA (Middle East Pharmaceutical, Chemical Industries & Medical Appliances Company) and ACPC (Arab Center For Pharmaceutical And Chemical Industries Company). Both are leading companies in the pharmaceutical industry in Jordan and throughout the region. Combined, these two companies currently export to 17 markets and have more than 250 products in their portfolios. In the service sector, Tantash Group has investments in TTA and ALPHA (Jordan Investment & Tourism Transport Company). TTA is one of the leading travel agencies in Jordan and The Middle East. It provides the full spectrum of travel services for both outbound & inbound tourism. ALPHA is a tour bus operator for in-country transportation and an investor in tourism related activities covering Syria, Lebanon, and Saudi Arabia. Additionally, Tantash Group has recently signed a joint venture agreement with strategic partner Air Arabia, establishing the first low cost carrier in Jordan. Air Arabia Jordan will provide direct flights to a range of destinations across Europe, the Middle East and North Africa from Queen Alia International Airport and is expected to be a major player in the aviation sector. In the financial sector, Tantash Group owns ISTITHMAR for Financial Services and Ideal Investments. ISTITHMAR is a highly recognized boutique brokerage, asset management, and fund management firm. Ideal Investments is specialized in funding select companies and is active across all stages of the funding cycle from early-stage venture capital to growth capital and buyouts.
How did you start your business?
I have always wanted to run my own business, so it was a natural decision to establish Tantash Group. Of course, when the company started, it was not the same size as it is today. But everybody has to start somewhere. I am very proud of what Tantash has become today and I am looking forward to continued growth and success in the years ahead. There is so much potential both inside and outside of Jordan and I am very keen to expand Tantash into new markets.
When you first started your business, were you expecting that it would become not only your full-time occupation, but also a growing company?
Yes, my ambition was for the business to be my full-time job and for it to be a growing company. I believe that in order to succeed you need to envision success and to fully commit to your vision. I think that this commitment has been one of the main growth drivers of the group. Looking back on it, I am sure that if I had not planned for the company to be my full-time job with the potential for growth, Tantash Group would not have been as successful as it is today.
What were the biggest challenges you faced as an entrepreneur and how did you overcome them?
Challenges come in all different shapes and sizes, and every entrepreneur has to deal with challenges on a daily basis. The important thing to remember is that every challenge is also an opportunity. The key to success is learning from your mistakes, because you are bound to make mistakes.
What do you think it takes to be successful in the industry your company competes in?
Tantash Group is diversified and we compete in many different industries. Each of these industries has its own unique circumstances, opportunities and challenges. However, regardless of the specific line of business or industry, Tantash Group has an innovative attitude and approach to everything that we do. The key to innovation is coming up with a well thought-out idea, comprehensive planning, and the dedication of the people in implementing that idea. We look at opportunities that will give us the chance to be the pioneers in a sector, rather than copying something or tapping into a successful sector. You have to remember to keep your eye on what is important to you as an investor, an individual and try to react ahead of time. You also have to learn to be lenient in these kinds of situations because no plan is fool-proof; you always have to keep reacting to the changes that are taking place.
What advice would you give to those contemplating starting their own business?
My advice to aspiring entrepreneurs is to approach every new idea and potential business in a systematic fashion. From the very first stages of creating a business plan, to implementation and execution, having a system in place will ensure efficiency and allow the entrepreneur to spot any unexpected problems quickly and address them in a timely manner. I also believe that investing in top of the line technology is extremely crucial. A systematic approach coupled with investment in technology will help the entrepreneurs stay organized and free up their time for strategic decisions.
What is the question I did not ask, but should have?
Q: Is there an age that one should start at or a limit?
A: Not at all. Start as early as you can and never think it is too late. I will gladly do it all over again.
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