The Tribune

By Ian Ferguson

A few weeks ago we shared information on the impact the death of an employee can have on the company. The effects seem heightened when the deceased is the chief executive or someone having served in senior leadership. I attended, this weekend past, the funeral service of a giant of a man who left an indelible mark in the local business community, specifically in the area of retail. The Prime Minister, in his tribute, said this iconic figure had contributed tremendously to the status of black Bahamian businesspersons, and deserves a double honour for his nation building contributions. Our conversation today, then, is focused on the work and corporate legacy of Huria Laden ‘Big One’ Ferguson.

If one were to look closely at the number of Bahamian businesses that have stood the test of time, we will admit that not many have demonstrated the resilience and fortitude to survive the forces of recession, global and local competition, shifting trends and other forces that have caused many to go under. Big One Shoe Store, without fear of contradiction, is one such business, having served the island of New Providence in a stellar way since 1957. For 56 years and nearly two generations, Hurai Ferguson led a quite successful company, navigating skillfully through sometimes tumultuous social, political and economic seasons.

There are four simple lessons I would like to extrapolate from the Big One template that will help fledging businesspersons in our local corporate community.

Hurai Ferguson was a man known for his generosity. He remained true to the community and constituents from who he derived his business. He hired persons from the community, developed a trust system of credit for those truly in need, and went into his pocket everyday to tangibly address the needs of those around him. If you genuinely didn’t have all of the funds you needed to make the purchase, somehow he could discern the need and find a way of compromising so you left with some hope. While this type of behaviour is frowned upon today, and viewed as fiscally irresponsible, something has to be said about a man who constantly gave and yet always had to give. Certainly, the scriptural inference of sowing and reaping can be used to describe the way that Big One operated. Even before the term ‘corporate social responsibility’ surfaced, Hurai Ferguson understood that it was the business community’s duty to give back. This he did with every fibre of his being.

Big One did everything in his power to protect his strong brand. Everyone throughout the Bahamas knew, when it came time to outfit your children for school, the East Street and Gibbs Corner stop was a must. The level of quality and high-style fashion merchandise found in his store could not be matched anywhere else on the island. Additionally, the price point always seemed to be reasonably within the budget of the average Bahamian. He prided himself on remaining current with trendy shoes that would cause a person to stand out for their distinction in footwear.

Big One understood the basic principle of finding and capitalszing on his niche. His obituary indicated that after his contract days, he dabbled in barbering and a number of other entrepreneurial ventures. In 1957, though, when he started the Big One Shoe Store, the search ended. He remained committed to building his place in the market. He perhaps had amassed the wealth and reputation to venture into many other businesses, but he continued to build his brand around shoes. We have seen one too many over-zealous business persons tie their hands in many projects, only to find themselves committing corporate suicide.

The final, and perhaps most powerful lesson from the Big One model, is that of succession. Hurai Ferguson and his loyal and dutiful wife, Cynthia, had many children. They reared them all to be responsible and committed to God, family, church and the wider community. Big One trained and empowered his sons, Keith, Kevin, Dwight, Dwayne and Marvin, to become astute businessmen in their own right. They have within the past few years taken the Big One empire to a new dimension, building on the foundation laid by their father.

We do not have many opportunities to celebrate success, and so we could not let this opportunity pass without saluting a stalwart in the Bahamian business community: Hurai ‘Big One’ Ferguson.

NB: Ian R. Ferguson was educated locally, regionally and internationally, having earned a Master’s Degree in Education from the University of Miami. During the course of his nearly 20 years in education, talent management and human resources, he has served both the public and private sector in senior management roles. He currently serves as manager of the Chamber Institute, and as a local consultant in the field, having assisted hundreds of local and regional businesses in improving business and service excellence through their human capital.