Sheldon Lavin, the CEO of OSI Group, joined the food industry when he was a complete newbie. Lavin had just graduated with a degree in accounting and finance when he established his financial consultancy firm. Sheldon established his company to help small food companies to acquire financing for their expansion objectives. When he first ventured into the consultancy business, Sheldon was unsure of his abilities.
Fortunately, things happened in his favor and his first enterprise succeeded within a year. Sheldon’s first client was a small food processing company known as Otto & Sons Ltd. At that time, Otto & Sons were the sole suppliers of hamburgers to the McDonalds, and they needed capital to expand their operations. The two brothers who owned the Otto & Sons welcomed Sheldon aboard as one of the partners.
Succeeding as a newbie
During an interview with Inspirery, Sheldon noted that he had little experience when the sons of Otto approached him for the financing of their company. Fortunately, Sheldon relied on his knowledge and instincts. Eventually, the outcome worked in favor, and he gained the courage to offer his services to even bigger companies.
According to Sheldon Lavin, most of the small companies fail to realize huge profits because they lack the resources to scale-up their production capabilities and as a result, they don’t enjoy the economies of scale. Sheldon capitalized on building his companies into large corporations, thus reducing the operating costs and capitalizing on economies of scale.
Sheldon Lavin also notes that most of his success as an entrepreneur is as a result of good luck. But he also emphasizes that planning is equally important if you have to succeed in entrepreneurship. Without a proper plan, a business can easily fall into debts.
What makes Sheldon Successful?
Sheldon Lavin has undeniable abilities to plan and prepare for the future. Most of the business people cannot plan for tomorrow, and that is how they end up failing. For Sheldon, he developed the habit of making decisions for his future from an early age. He has used this idea to build his business empire.