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To grow a business, there are various factors to be taken care of. Financing has to be one of the top issues an entrepreneur faces. Moreover, business is a very risky career as people face losses, unlike a salaried job where workers earn a fixed amount of money every month.
Byron Johnson is an entrepreneur who not only made business for himself but through his venture he aims to solve the problems of others in this field. Byron Johnson is the owner of The Johnson Foundation of Florida which is a commercial real estate brand established in Tampa, Florida. Byron, being a family man, has many financial responsibilities. He gathered the courage to make this brand and worked hard to make it successful. He believed that to stay longer in the market, he needed to figure out the appropriate product and understand the buyers he would cater to. So, he chose the commercial real estate sector. As a businessman himself, he had rented spaces for commercial purposes and he knew how many small and medium-sized businesses look for such areas. He also realized that the Tampa area lacked this facility. He saw this as a golden opportunity and thus, went on to make a successful business.
Currently, the company has 3 properties and is fully occupied by 150 tenants. The target customer is the medium to small business owners and the company rents spaces for $500-$700 per unit. Most of the tenants are new business owners who do not have much capital but wish to have an office space that will help them grow. Byron got three properties that got filled easily in a short period considering the high demand for such affordable spaces. The major obstacle that Byron faced as a new entrepreneur was the problem of capital. Initially, he did not have enough money to buy land and renovate them. But he never gave up. He worked hard, gathered investors and most importantly maintained good financial relationships with them.
However, Byron does not take complete credit for growing his company. His team has worked equally well and this has helped him manage every aspect of his business efficiently.
He advises the new entrepreneurs to always have a Plan B. This is because business is not an easy area to conquer. It is one of the most uncertain paths. People come across various challenges and it is rather simple to give up and go for a different choice. Another piece of advice that Byron gives is that to earn something, one needs to sacrifice. One should have the ability to make difficult decisions and be patient enough on the way to success.
Check out Byron Johnson and his company here:
Instagram: @thejohnsonfoundationofflorida
TikTok: https://vm.tiktok.com/ZTdQ9LoL7/
