In celebration of National Entrepreneur Week, observed from February 15-22, we’re spotlighting a local business, Jake Storage Containers. Ed Kurbansade, VP & Market Manager, recently visited Darrin Shamosh and his business in Ridgefield Park, New Jersey. Below, Mr. Shamosh shares his background and entrepreneurial journey, including what motivated him to take the risk of building his own company—and the steps that have helped him succeed along the way.
How did you get started, and what made you decide to become a business owner?
My wife gets the credit actually; she steered me in the right direction. I had recently left another company at age 47 and we were on a walk sometime in May of 2017. During that conversation about my future, she pointed out that I had always helped build businesses for other people and that I would regret not taking this opportunity to take a risk and attempt to build something on my own. With her support, the rest is history.
Can you tell us about your business?
Jake Containers sells and rents portable storage containers throughout the tri-state area. We offer many sizes of both new and used shipping containers, making us a one-stop shop for our customers’ portable storage needs. As a small, family business, we offer a customer-focused alternative to the larger players in our industry.
What advice would you give others interested in becoming entrepreneurs? Are there any lessons you’ve learned as a family-owned business?
For starters, know your numbers (my CPA background helped me tremendously in this respect). Knowing information such as where your dollars are being spent, what revenue you need to breakeven monthly, etc. will help you make business decisions quickly and with confidence. Second, don’t be afraid to take risks and make mistakes. It’s human nature to make mistakes and doing so provides you with an opportunity to learn from your mistakes and improve your business. Finally, and most importantly, it’s People, Process and Systems. You cannot do everything on your own! Hiring the right people is crucial, and I am fortunate to have a great team. I recommend having strong processes that everyone follows, along with systems that enable everyone to do their job efficiently.
How did your partnership with Spencer Savings Bank form?
I had a personal banking relationship with a Spencer financial center near my home for many years. When I decided to go out on my own for business, I simply wanted to give Spencer a shot and I’ve been banking with them ever since.
How has Spencer helped your business grow? What are your future business goals and how is Spencer helping you achieve them?
Spencer was there for me right from the start. I took out a small business loan to acquire my first forklift (which I am close to paying off!). I frequently make international wire transfers, and Spencer’s cash management system has secure platform templates, making the job super easy. More recently, we closed on a six-figure line of credit for future business needs. Finally, the people are great—whether it’s at the corporate level, the branch level, or the cash management team, the service is excellent!
Contact Darrin Shamosh (Owner, Jake Storage Containers) at 973-957-7600 or www.jakecontainers.com for more information on his business. You can also connect with Darrin on LinkedIn or visit Jake Storage Containers on Facebook.
Contact Ed Kurbansade (Spencer’s VP, Market Manager) at 973-942-6004 or ekurbansade@spencersavings.com for personalized assistance with all your business banking needs.