Dev Joshi is a family-oriented businessman who owns JMD Furniture stores in DC metro area. He named his company after a popular Hindu saying “Jai Mata Di” which stands for a positive and nature-friendly approach to life. It is fair to say that his business has become reflective of that ideology over the years. Dev works alongside his own family that has helped him create an efficient empire. Before his ventures in the world of tangible property, his father spent many years learning the basics of the industry. Subsequently, he taught Dev how to start and continue operations in a way that will be profitable. Nowadays, the Joshi family continues to expand and take over the market by relying on accountability, persistence, and transparency.
BusinessInterviews.com: Do you have any recent success stories that you’d like to share with our readers?
Dev Joshi: We completed a few out-of-state deliveries recently. Although this is nothing new, we were able to deliver the furniture further than ever before. It all started when one of our previous customers told their out-of-state family to look into our offering. Next thing we know is that there are multiple orders placed from more than two thousand miles away! Courtesy of our drivers, however, everything went smooth.
BusinessInterviews.com: What has been your biggest challenge as a business owner and how have you met that challenge?
Dev Joshi: Learning to walk the line between treating my employees as family and subordinates. And let me tell you, that line is so thin that you can barely even see it. When you are working with your immediate family, many advantages come alongside a few obstacles. Main problems arise when you are at a disagreement about the way the certain things should be done. It is here when you have to pull rank or seniority and, unfortunately, having to overrule a family member is never easy. Still, tough decisions have built and destroyed many empires, and they are a vital part of every business.
BusinessInterviews.com: What’s the most exciting thing on the horizon for you/your Company?
Dev Joshi: Well, the most exciting thing on my agenda is a vacation that is coming up soon! If you look at the last few years, the only days that I missed were the ones when I was sick. So, I am looking forward to letting someone else take care of the business for a very brief period. As far as the future for our company, I anticipate that we will be looking for areas where we can lease some new locations. I will not disclose where we are looking to expand, but it will be relatively close to our existing stores. Ultimately, as I mentioned, we hope to announce a new and innovative way to buy furniture.
BusinessInterviews.com: Where do you envision your company in 5 years, 10 years, 20 years?
Dev Joshi: I hope to open more stores and create additional job opportunities. Although hiring my family is very rewarding, I want to continue bringing excellent workers from all areas. So, one of our primary short-term goals for the upcoming five years is to expand. As far as some of the long-term plans, I think that we are focused on innovation. Buying furniture is not exactly a ground-breaking process. You go to the store or visit the website and order what you need. At JMD Furniture, we are working on inventing something new that will innovate this process over the next two decades.
BusinessInterviews.com: Do you consider yourself successful and by what means do you measure success?
Dev Joshi: I will answer the second part first as that will make more sense. I measure success by the number of 5-star reviews that JMD Furniture receives. Favorable reviews are an excellent indicator that we will be seeing that customer again. It is essential to know those things because customer loyalty is what leads to growth and expansion. So, I would say that I consider myself successful to an extent. I have been able to provide many clients with exceptional service, and they now work with us all the time. Still, I do not believe that anyone is perfect and I have many areas to improve.
BusinessInterviews.com: What advice do you have for other entrepreneurs and business owners? What do you wish someone told you?
Dev Joshi: I wish someone told me that it is better to be over-staffed than to lack employees. I advise business owners to make hiring decisions proactively. Meaning, do not wait for the work to pile up to hire someone who can do that work. Instead, bring people in long before the demand for your services grows. Doing so will enable the new person to get familiar with your system of operations, procedures, and other employees.