Dedicate yourself and seek perfection in what you do.
Flavio Maluf was born into a political dynasty and a wealthy family. His father was and is still a politician and renowned businessman. Yes, he was born into a wealthy family, but through hard work and excellent business skills, he has managed to build wealth and create an empire.
Flavio graduated from the Armando Alvares Penteado Foundation with Mechanical Engineering degree. However, the desire to be an entrepreneur forced to pursue business full time. Flavio took over the leadership of the family business in 1997.
He is also the president of the Grandfood.
Flavio advises people who are seeking to join the business world to proceed with caution. Most entrepreneurs believe that owning a business means they will work less and earn more. According to Flavio that is a myth. This is because for the business to grow one has to be dedicated time to build it.
Another myth that people must address is the issue of money. It is a common belief that one must have enough money start a business. There are various business models that don’t require a lot of capital. Today, many investors are seeking for new ideas and it depends on where you look.
Flavio advises the entrepreneurs not to ignore the aspect of creative endeavors. It is not about working hard but working smart. The business owners must be willing to identify rare opportunities to help grow and improve the dynamics of the business
Where did the idea for Eucatex come from?
The idea came from my great-grandfather Salim who had one of the largest sawmills in Latin America. The mill was originally founded in 1940. In the 60’s my uncle and father decided to use the sawmill forests to make a wood fiber lining industry. The name Eucatex came from Eucalyptus which is the wood that the company uses in the manufacture of its slabs for furniture industry needs, and civil construction products.
What does your typical day look like and how do you make it productive
A normal day starts at 8:45 am to about 6:30 pm in the office, four times a week. I always have a very orderly agenda with weekly meetings with all areas of the company. Then one day a week I visit a group factory to keep in touch with the production. Twice a week I do aerobic exercises at the gym at 7:00 am and on weekends I go on a Track Bike.
How do you bring ideas to life?
The ideas come from reading magazines from the sectors that we work, from the internet, or visiting the points of sale looking at related products. Then we discuss them with the team to see which of them we carry forward..
What’s one trend that excites you?
The evolution of technology companies and online services, and how you can use them in your business is something that catches my attention.
What is one habit of yours that makes you more productive as an entrepreneur?
When I’m not at the office, I look everywhere for something different. Over the weekend, when I’m surfing the internet, I’m also looking for something that helps me to relax, But at the same time, for ideas that I can apply at work.
What advice would you give your younger self?
If I could go back in time, I think I would have looked at more business outside my family field. The customs are changing at a speed that there is no more branch that is not in constant transformation and rapid evolution.
Tell us something that’s true that almost nobody agrees with you on.
It is possible to grow your business at expressive rates even when you are already market leader in the segments of your expertise.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Dedicate yourself and seek perfection in what you do.
What is one strategy that has helped you grow your business?
Every consumer of a particular product always seeks novelty. The key is to try to anticipate trends. Eucatex was the first company in the world in the early 2000s to offer environmentally-friendly products to American Home Depot chains and to have their products certified by them. To this day, we are a relevant supplier in our segment to them.
What is one failure you had as an entrepreneur, and how did you overcome it?
The failure rate is directly proportional to its growth ambition. There were several products released over the years that did not work, but some did and the balance was and is positive. Recognizing your limitations is more important than recognizing your abilities.
What is one business idea that you’re willing to give away to our readers?
Products that remember that natural and environmentally friendly are on the rise in all business areas. This is the way forward with almost all production.
What is the best $100 you recently spent? What and why?
The $ 100.00 better spent I do not know, but from $ 100,000.00 upwards I have several examples in the industry.
What is one piece of software or a web service that helps you be productive? How do you use it?
The Qlikview program of management reports. Use to analyze business performance.
• An orderly day is a necessity for remaining focused at work, but also ensuring that every aspect of your business is addressed every week.
• You must be prepared to fail if you want to succeed. Anybody with a reasonable amount of success is going to encounter failure on a regular basis.
• Anticipating trends is key to remaining successful in a consumer based industry. Staying on top of what the customer will want is vital to ensuring you can deliver in demand products, as demand evolves.
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Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.