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Getting a car is a big deal. To get a car is one of those things that is definitely in everyone’s bucket list. However, it can be expensive, and certain things like bad credit can keep you from actually getting what you want.
This is where used car dealerships come in handy. Mike Moaid Abbadi runs Tampa Bay Luxury, a used car dealership that is ranked at the top in the Tampa Bay area. At the dealership, Mike always has over 100 used vehicles, from Kias to Rolls Royce. You name it.
“We specialize in giving to people who have been through hardships that have put them in bad credit situations a fresh opportunity to finance a quality vehicle of their choice.” Mike shares.
Mike is a 38 year old entrepreneur and 8 year Army veteran, originally from Jordan, with a big Egyptian family and a handful of brothers. Since he was younger, he always had initiative and a desire to be someone and do something big.
He was motivated to get into the automotive business for more than just the money. It is what can come from the business in itself. For one, the profit helps him provide more for his loved ones who are extremely important to him. But also, Mike points out that knowing that his business is helping other people motivates him to continue working. In addition, Mike likes that the automotive industry is very diverse and provides opportunities for a range of skills
“One of the biggest challenges when starting a business is finding the right business opportunity, or having the creativity to develop an idea for a business. Seeing opportunities is just the beginning of the long journey ahead.” Mike says.
According to Mike, when in a business, people create value out of nothing, coming up with innovative products and services. Afterwards, capital needs to be raised in order to grow the business and have an assembled team.
“Something that will set you apart going forward with your business is being able to keep up with industrial changes and trends.” Mike points out.
Being a successful entrepreneur, Mike knows the importance of mindset. He believes that if someone has in their mind that they may fail, they will fail every time. Accordingly, having the correct mindset is the most important attribute required for every entrepreneur to succeed in their new venture.
“My advice to those trying to start their own business is to know yourself, your true motivations and the amount of money you can risk. Know what you are willing to do to be successful, and choose the right business for you. Make sure there really is a market for what you want to sell. Always research your competitors, know the operational needs of the desired business, and last but not least, do not procrastinate!” Mike advises.
Mike believes that there are two types of fear, “pure fear”, which someone feels when their life is in danger, and “harmless fear”, which someone feels as a response to opportunity. Mike argues that harmless fear is a chance to step up in life and play a bigger and better game. It is not something that would keep him from achieving success, which for him is about being able to support his family, accomplishing his daily goals, and maintaining balance in his life.
“The biggest obstacle I’ve overcome so far is accepting my past. If you don’t make peace with your past, it will never leave you and it will create your future. Successful people know that the only good time to look at the past is to see how far you have come.” Mike adds.
Tampa Bay Luxury is different from its competition because Mike focuses on solutions for his customers. Mike helps his customers see solutions that they did not even think were possible. He does this through seeing what he sells as an investment that the customer makes, rather than just a purchase.
“Sell not only to the decision maker, but also to the one who is going to benefit from what you are selling.” Mike says.
Mike’s next projects include dedicating more time to becoming an influencer for people to learn from his mistakes and be able to succeed based on his experience.
Most recently, Mike Egyptian released a best selling book, Secrets To Opening a Successful Used Car Dealership, where he tackles questions on how to get into the dealership industry. To follow him and his upcoming projects, go here.
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