FosRich: Power in the name
Published:Sunday | September 6, 2015 | 12:00 AMJanelle Oswald
The name FosRich was coined from the names of the husband-and-wife team behind the company.
"My wife's maiden name is Richards and mine is Foster. I wanted to have a name that reflected us as a business couple." said said Cecil Foster, the man behind the popular electrical lighting company, in response to how the company got its name.
He also told The Gleaner how he landed in the business that is now a household name, during an interview with The Gleaner's Corporate Coffee Mornings.
"The first job I had, I worked as a salesman selling electrical products. I worked with many hardware companies, which taught me the ropes. This gave me great insight to find out what my potential customer's needs and wants. This information allowed me to be ahead of the game because I learnt so many things at grass-roots levels," he said.
Foster who began business with two employees, now has four stores and more than 100 staff members. "This keeps me very humbled. I have always wanted to go mass, expand and reach more people because I knew there were so many business opportunities that we could fill as a company. I knew I could serve the market better. I have always held a self-belief that the person behind the brand has something for not just for a small group but a wide group of people," Foster told The Gleaner.
He said that along the way, he has learnt to be respectful to people, because respect is fundamental and a key in entrepreneurship along with passion. He noted that one has to have to have the drive to stick to the plan and execute the dream. He also said that one might not be the smartest person in a team, but the team is important.
"If you are always around people who think you are smarter, you will not get very far because they cannot advise or assist you. I always tell my staff that they must advise me as much as I need to advise them. Team work makes the dream work," Foster stressed.
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