Want 30 Years of Business Success? Tips from LEDtronics Founder, Pervaiz Lodhie

LED Lighting Pioneer Shares His Thoughts on Marketing, Competition and Charity Work

If you want to start your own business, check out these tips from Pervaiz Lodhie, founder of LEDtronics, Inc., www.ledtronics.com. He started the business thirty years ago in his garage with his wife, Almas.
 
And today, Pervaiz is a very successful business owner known as the pioneer of LED lighting. In addition, he provides LED (light-emitting diode) units with solar-power charging to poor villagers worldwide as part of his extensive, charitable work.
 
Here’s what this philanthropist and successful entrepreneur had to say in our recent interview:
 
Why do you think your business has lasted 30 years?
 
From the beginning, I did not allow LEDtronics to stagnate in its product-line offering. It’s important to constantly see what is out there and keep an eye on all your competitors who are looking at your products, copying what you do, and more. You want to constantly refresh your product line, seek ways to stay focused on who your customers are and apply your marketing efforts towards those efforts. If you simply throw messaging out there and hope to get customers, it doesn’t work.
 
Instead, make your customer communications the highest priority possible. Listen to your customers carefully and make sure you deliver what you promise. And the price should be reasonably good in line with the value of the product and the competitive market. If you are too different from your competition, then something is wrong. Many new business owners start out creating a comfort level for themselves rather than focusing totally on the product or service they want to market and sell. 
 
That’s very true Pervaiz. And you’ve not only put your customers first all these years, but you also do a lot of charitable work.  Why is this important to you, and how has it helped you both personally and professionally?
 
Charity work is something I do for myself. The health of my heart comes from my charity work because I consider myself a concerned, professional engineer, and as such, that means I want to do things that benefit others and make someone else’s life better.
 
I’m always looking to see if what I’m doing is meaningful to others or not. Lighting turned on a very powerful switch in my mind long, long ago. Here is LED lighting, and it consumes very little power.  Here is Solar, which provides power free of charge from the sun. Suddenly, that combination just lit a candle in my mind, and I asked, “Now how do I make this very small entity become extremely valuable and maximize the benefit of what I’m making?” 
 
That’s why I decided to help the poorest of the poor where there is no electric grid for miles and miles
It took some time, but once I developed a small, LED lantern and solar panel which charges during the day, the positive results were self-feeding. Women in these villages could now work at night creating handcrafts to sell, children could read and study, and entire families could live healthier lives and also avoid snakes, scorpions and other dangers.
 
When you see the benefits and changes that result, suddenly things automatically start coming together and you want to do more.
 
Do you have any advice specifically for female technology experts and engineers who want to start their own businesses?
 
I think females can achieve success if they avoid the same pitfalls many people fall into when starting a business. Initially, you have to go very slow. Be prepared with your financials, and keep your administrative costs, personal expenses, and waste to the minimum. If you constantly reinvest your small profits initially, eventually, they will grow bigger.
 
Be continuously involved in your business and make sure that you offer a very, high-quality product or service. Be honest about the promises you make, and always provide value. If you use these tools, you can stand out from the competition.
 
After all, there are always people making mistakes, and these mistakes can be the road to your entrepreneurial success. Unfortunately, a majority of new businesses completely fail for the wrong reason because they are ill-prepared for all the things that can happen. For the best odds of success, look ahead and prepare for at least a couple of years in the future.
 
 
Thanks for your great insights Pervaiz! If you have questions for Pervaiz, please post your comments below or visit www.ledtronics.com.
 
As the CEO of Rembrandt Communications, Melanie Rembrandt helps businesses increase sales, awareness and credibility with SEO strategy and public relations. For additional information, visit www.rembrandtwrites.com