THE WAY FORWARD How Startups and Smes Can Navigate the COVID-19 Crisis

EXPERIENCE MATTERS CRISIS COMMS THE RIDE CONTINUES GET YOUR ENTERPRISE’S CX READY A FOUR-POINT CHECKLIST FOR HOW CAREEM’S CULTURE AS A STARTUP FOR A POST COVID-19 WORLD EFFECTIVE BRAND COMMUNICATION FUELED THE CAREEM CARTEL

THE WAY FORWARD How startups and SMEs can navigate the COVID-19 crisis

GOING THE NEW MARKET THE DISTANCE LANDSCAPE WHY REMOTE WORKING THE CORONAVIRUS IS THE KEY TO PANDEMIC VERSUS A FLEXIBLE FUTURE THE DIGITAL ECONOMY 9 7 7 2 3 1 1 5 4 1 0 0 8 >

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16 32 38 28 ‘TREPONOMICS START IT UP START IT UP ‘TREPONOMICS PRO ECOSYSTEM ECOSYSTEM MARKETING The way forward The new market landscape First person Crisis comms With small businesses In the wake of a pandemic, NOW Money co-founder Sherpa Communications’ taking a hard hit from the Jad Hindy looks at the Ian Dillon gives his take on Anastasiya Golovatenko COVID-19 crisis, Hisham pitfalls and opportunities the impact the coronavirus gives a four-point checklist Farouk, CEO of Grant it could present for the pandemic is having on for effective brand Thornton UAE, offers digital economy. their startup, customers, communication through a guide to navigate through and the MENA region. the coronavirus outbreak. the current turmoil. 40 ‘TREPONOMICS 35 SKILLSET ‘TREPONOMICS Growth trajectory SKILLSET Rami Shaar, co-founder Experience matters and CEO of Washmen, Amol Kadam on how reflects on the lessons (and why) you should get of the development (and your enterprise’s CX ready expansion) of his digital for a post COVID-19 world. laundry startup.

50 62 ‘TREPONOMICS CULTURE PRO LIFE Competitive advantage Mind over matter Five key growth considerations Dr. Upasana Gala lists five for SMEs within the daily rituals to enhance e-commerce ecosystem. your brain health. 40 Rami Shaar and Jad Halaoui, co-founders, Washmen

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58 How Careem’s culture as a startup fueled the Careem Cartel

48 47 CULTURE CULTURE LIFE DESIGN The only way is up The (right) way to work Motivational speaker from home and best-selling author Working from home can be Jonathan Yabut on rising to a hoot if you have everything greatness (with purpose). set up perfectly- here are seven inexpensive ways to 31 create the perfect workspace 26 58 MONEY at home. ‘TREPONOMICS START IT UP YOUR MONEY PRO ECOSYSTEM Money matters 42 Going the distance The ride continues Nicholas Joe Correia gives TECH Infographic.ly founder Former Careem exec and a guide to financially SHINY Carla Saliba on why remote entrepreneur Zina Ajlouny sustain and protect your #TamTalksTech working is the key to on how the unicorn business over the course of Gadgets and doodads that a flexible future. startup’s culture fueled the the coronavirus pandemic. you might’ve missed out on, Careem Cartel. sourced by a tech aficionado. 54 46 START IT UP 51 CULTURE 44 Q&A TECH LIFE CULTURE Going from strength to THE FIX Real talk TRAPPINGS strength Boosting an ecosystem Jeetendr Sehdev, New York ‘Trep gear Privilee founder Lars The advent of digital asset Times bestselling author The executive selection for Johannesen on how he regulations in the GCC of The Kim Kardashian the entrepreneur on your went about building “the is good for the region’s Principle, sets the record list that has everything. UAE’s ultimate fitness and startup landscape, says straight on the power of Okay, maybe for a little self- leisure app.”. Kokila Alagh. influencers. reward as well.

54 Privilee founder Lars Johannesen

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EDITOR IN CHIEF Aby Sam Thomas [email protected] SUBSCRIBE CEO Wissam Younane [email protected] Contact [email protected] to receive DIRECTOR Rabih Najm [email protected] Entrepreneur Middle East every issue CREATIVE LEAD Odette Kahwagi MANAGING EDITOR Tamara Pupic STARTUPS SECTION EDITOR Pamella de Leon GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa COLUMNIST Tamara Clarke PO Box 502511 Dubai, United Arab Emirates INTERN Aalia Mehreen Ahmed P +971 4 4200 506 | F +971 4 4200 196 For all commercial enquiries related to Entrepreneur Middle East CONTRIBUTORS contact [email protected] Zina Ajlouny Tamara Clarke Amol Kadam Kokila Alagh Ian Dillon Louise Jacobs All rights reserved 2020. Lama Barr Dr. Upasana Gala Samer Obeidat Opinions expressed are solely those of the contributors. Shahzad Bhatti Anastasiya Golovatenko May Rostom Entrepreneur Middle East and all subsidiary publications in the MENA region are officially licensed exclusively to BNC Publishing Renzo Bravo Lahcen Haddad Carla Saliba in the MENA region by Entrepreneur Media Inc. Fida Chaaban Jad Hindy Jeetendr Sehdev No part of this magazine may be reproduced or transmitted in any Nicholas Correia Mike Hoff Rami Shaar form or by any means without written permission of the publisher.

Images used in Entrepreneur Middle East are credited when necessary. Attributed use of Printed by United Printing and Publishing copyrighted images with permission. All images not credited otherwise Shutterstock. upp.ae

In addition to our print edition, we’re bringing EntMagazineME you all sorts of industry news on our web mediums. Joining us online means getting @EntMagazineME MIDDLE EAST relevant business and startup content in real-time, so you’re hearing about the latest Entrepreneur-me developments as soon as we do. We’re looking ACCESS FRESH CONTENT DAILY ON OUR WEBSITE! EntrepreneurMiddleEast entrepreneur.com/me forward to interacting with our readers on all of our social media and web platforms- like any EntMagazineME thriving business, we’re looking to give and take. #TrepTalkME is already happening on all of our EntMagazineME digi platforms, and all good conversations go both ways. See you on the web! EntMagazineME

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This too shall pass BEHAVIORS TODAY WILL HAVE RAMIFICATIONS TOMORROW

we also have to continue to stay true high and dry. Rest assured that your to our role within this ecosystem. reputation as a business partner has And that’s why we’ve kept our heads already taken a hit in the community down and focused on our work, which, at large. Similarly, think of the rami- in our current setting, has meant us fications of your actions when you, as bringing together everything from a business leader, choose to let go of insights to resources that can help your staff, so that you can continue MENA entrepreneurs navigate a way with your luxuries. (You’ll have this on out of this unprecedented situation. your conscience when you run around So, from thoughts on how to keep a spouting “I am nothing without my team motivated even while their sala- team” to everyone after this crisis has ries are cut, or tips and tactics to how passed.) to keep our wits about us, and, well, Now, all of this is not to discount the t’s only been a few weeks not lose it, we’ve been seeking (and tough decisions many of us have to since we in the Middle East pushing out) stories and solutions that make when going about our businesses began to feel the impact of the will help our community of entrepre- in extraordinary circumstances like global coronavirus pandemic, neurs, startups, and SMEs get through these- but let’s be very careful about but in this fairly short period, this crisis. people who pass off poor choices as the economic slowdown it I must admit here that I’ve been more “things they had to do because of the has effected on our business personally invested than usual when crisis.” At the end of the day, it’s good landscape has been nothing we embarked on this content plan for to remember that one’s behavior in I short of monumental. And it’s Entrepreneur, and I feel it’s because the worst situations is often the best safe to say that it’s been especially felt I’ve bought into this sentiment of indicator of how one really is, and by those of us who are a part of the “we’re in this together.” While argu- that’s something to keep in mind for region’s entrepreneurial ecosystem. ably clichéd, that statement carries a now- and for later. For us at Entrepreneur Middle East, lot of significance in times like these. besides been privy to a multitude I believe that if we try to operate of stories about enterprises that are selfishly now, be it as businesses or in- struggling to keep themselves afloat dividuals, then we’re almost certainly amidst this crisis, we’ve also found headed down a path that won’t work ourselves tackling the same challenges out in the long run. Because as alarm- as our peers. After all, we are a young ing as this crisis may seem, we must business too- we only celebrated our remember that it is most definitely sixth anniversary in February this a temporary one all the same, and as year. But, at the same time, as an such, what we do now will well be entity that has long called itself “the remembered in the future. Aby Sam Thomas voice of entrepreneurship” in the re- With that in mind, think twice before Editor in Chief gion, we’ve decided that, despite all of you, as a corporate, drop all of your @thisisaby what’s going on with us as a business, contracts with startups and leave them [email protected]

14 / ENTREPRENEUR.COM / April 2020 Aby Sam Thomas Editor in Chief @thisisaby [email protected] ‘TREPONOMICS PRO

THE WAY FORWARD How startups and SMEs can navigate the COVID-19 crisis by HISHAM FAROUK

he COVID-19 pandemic developed as a health To navigate through the current turmoil, crisis, moved on to becoming an economic it is vital for businesses to be agile to respond Tconcern, and now has transformed into to today’s changing environment in a timely a recession hard to stave off. The current climate has manner. As such, SMEs are advised to identify, particularly stopped the music for the VC ecosystem, focus, and swiftly address the key vulnerable startups and small and medium enterprises (SMEs). areas to ensure their survival and business Indeed, small to medium size businesses are at the continuity. These main areas are finance, front line of the battle, with the repercussions being operations and business models, people, especially severe for them, due to higher levels of and processes- here’s a primer on how to go vulnerability and limited resources. about these:

16 / ENTREPRENEUR.COM / April 2020 THE WAY FORWARD | HOW STARTUPS AND SMES CAN NAVIGATE THE COVID-19 CRISIS

1/ FINANCE Cash is king, and now more than ever, is needed for survival. Here are external and internal ways to improve, prolong and avail liquidity.

INVESTORS AND VCS With the stock markets taking a significant hit, the private equity and venture capital markets are also heavily impacted. There is going to be a considerable dip in startup valuations, as well as total rounds raised during 2020. The appetite for investment and the availability of funds has shrunk, and it continues to move downwards. Investors are either FOR YOUR BUSINESS TO SURVIVE, AND TO POTENTIALLY GROW, selling their current shares at a loss THE RIGHT ENABLERS MUST BE IN PLACE, FROM A PEOPLE, to prevent further financial damage, PROCESSES AND TECHNOLOGY PERSPECTIVE. or they have gathered their resources to focus on their current portfolio and support its survival. On the other side BOOTSTRAPPING Back when entrepre- their current business models to reflect of the spectrum, there are a few outliers neurship was not a popular concept, the caused change, prioritize business with disposable funds who are taking and investors were not keen on buying continuity, look for opportunities to gain advantage of below-the-market prices to startup shares, many entrepreneurs competitive advantage from, and ensure diversify and expand their investment started and grew their ventures by boot- minimal disruption overall. portfolio. That being said, it is not strapping. It is time to take a page out wise to rely on external resources, as of that old book, take a proper look at RE-EVALUATING THE EXISTING all economies are in a volatile state. the business’ internal cash reserves, and BUSINESS MODEL Entrepreneurs need The best solution would be to direct stretch the existing runway to leverage to separate their focus from the crisis the focus on internal resources and all that is available. Entrepreneurs needs anxiety, and re-evaluate their proposi- capabilities. to start by identifying their incurred tions and business models instead. It is costs, and conducting negotiations to true that a number of SMEs, given their ALTERNATIVE SOURCES OF FUNDS In minimize the direct and indirect costs line of business (mainly B2C and digital) order to minimize the reliance on as much as possible. They also need to are less impacted, or in some cases, have traditional funding, the following explore ways to rearrange their cash experienced higher profits, regardless avenues can be explored: from idle facilities into their essential of the current crisis. However, it is a working capital in order to improve their common need to revise and redo the PARTNERSHIPS AND ALLIANCES The short-term liquidity. old plans, and create new ones as well. global implications of the outbreak have Businesses can do so by researching the brought both people and businesses GOVERNMENT AIDS Government grants change in the market demand, identify- closer than ever, making it the best time have come available at a global scale, ing the changes in consumer behavior, to take a step away from traditional prioritizing SMEs, startups, and entre- as well as the possible gaps and oppor- funding, and move towards partnerships preneurs. This is the best non-equity tunities for them to leverage and benefit and alliances. The market demand class of funding for these businesses to from. They need to revise their revenue patterns have been disturbed, with take advantage of and inject internally. goals and product timelines, create a extreme plunges in some classes and new business model along with a match- an upward surge in others. Thus, SMEs ing operating plan, and ensure clear need to form complementary alliances and constant communications with the by leveraging on each other’s resources 2/ OPERATIONS AND market and their investors. and capabilities, and transform into BUSINESS MODEL a stronger entity that can cater to the IMPROVED AND NEW PROPOSITIONS current market demands with agility. The world today is no longer the same as SMEs need to guarantee churn by This will assist with their commercial it was a moment ago, and it is likely to developing honest and constant survival while using minimal funds, as change further and for the worse. Entre- communications with their current well as helps serve their communities preneurs need to stay flexible and adapt clients, adjusting payment terms to and create positive PR. accordingly. They can do so by adjusting encourage early transfers, and >>>

April 2020 / ENTREPRENEUR.COM / 17 ‘TREPONOMICS PRO

THE GLOBAL IMPLICATIONS OF THE OUTBREAK HAVE changes are realized and take rent crisis, and the limited effect. The entrepreneurs available resources in SMEs, BROUGHT BOTH PEOPLE AND BUSINESSES CLOSER need to equip their business leaders need to develop and THAN EVER, MAKING IT THE BEST TIME TO TAKE and their team members implement decision making A STEP AWAY FROM TRADITIONAL FUNDING, AND to implement the needed protocols to be able to remain changes and stay adaptable. agile and respond swiftly to MOVE TOWARDS PARTNERSHIPS AND ALLIANCES. The first step is to create any changes that may arrive the environment wherein and with minimum involve- the team members feel safe ment. developing new price Your adaptability is not and encouraged to put in Now, theories to survive a points on current supplies. limited to ensuring liquidity the extra effort. The leaders crisis is not hard to come by, Entrepreneurs are advised and market offerings. For themselves play a crucial however, the success relies to then move on to explore your business to survive, and role in enabling new ways of on a tailored plan and its innovative, and at times, even to potentially grow, the right working: trust, empathy, and correct and timely execution. radical ways to secure new enablers must be in place, availability of leaders are a At Grant Thornton UAE, customers, and deliver added from a people, processes and key enabler for the workforce we can help you navigate value to the market. This can technology perspective. to feel empowered and com- through the current crisis, be realized by restructuring mitted. In addition, adjusting and construct the building the internal resources and the existing culture helps blocks for your survival and capabilities to fine-tune and 3/ PEOPLE AND with aligning the people’s your future growth. History tailor the current services, mindsets to welcome the new has witnessed some of the as well as to come up with PROCESSES changes and to be able to op- best companies to have been new lines of offerings created erate in the new environment created amidst the worst for the current demand. As PEOPLE First and foremost in a productive manner. crises- Apple, Disney, IBM, stated previously, building are your people. Entrepre- The second step is supply- and Microsoft are a few alliances and joining forces neurs need to take the neces- ing the tools needed to imple- examples. That said, it is with other SMEs will also sary measures to ensure their ment the required changes definitely a possibility for help cater to the new market teams’ safety, health, and by and help with business SMEs and entrepreneurs to dynamics, and prepare the extension, productivity, in continuity. Digital gadgets not only survive the current grounds for potential long- the new context. Active and that avail remote working, circumstances, but to grow term partnerships. transparent communica- telecommuting, and enable and prosper from it. Consid- tion is the most important all internal and external ering market and industry GO-TO-MARKET STRATEGY ingredient between the entre- communications are a great changes, developing a plan DEVELOPMENT AND preneurs, investors, and their example. Investing in an agile to scale the business, and COMMUNICATIONS Once the staff: the necessary platforms and resilient infrastructure transforming the operating newly adapted propositions need to be built to encour- might seem like a forced deci- model and existing processes are created, it is time to age mutual and constant sion now, but it is in fact, a are great places to start. In- develop the go-to-market conversations between all long-term investment that vesting in a mindset of agility strategy, as well as the rel- stakeholders. Maintaining a safeguards businesses from and a structure that supports evant marketing plans and weekly dialogue between the any turbulence that may it creates the best foundation communication channels. At CEOs, VCs, and employees al- come. for small businesses to grow times of crisis, communica- lows for the exchange of valu- big, and to remain strong. tion should be at the fore- able guidance on the portfolio DECISION MAKING front of any entrepreneur’s and the overall business, and PROTOCOLS AND SCENARIO strategy to maintain a steady helps with making collective PLANNING Once the new and honest stream of mes- and smart decisions moving infrastructure is in place, sages with its market. Keep in forward. the entrepreneurs need to mind that all efforts should develop various scenarios lead to increased credibility PROCESSES The right in- and forecasts, and test their and fundability- it is not the ternal tools and processes responses and strategies survival of the fittest, but the must be available, so that accordingly. Given the ever- last one standing. the above adjustment and changing nature of the cur-

Hisham Farouk is the CEO of Grant Thornton UAE. With over 20 years of experience working with some of the largest groups in the region, Hisham is also a member of the Board of Governors for Grant Thornton, driving the strategic direction of the brand globally as well as in the Middle East. Hisham is well known within the region as being a specialist within this business arena. He advises numerous financial institutions in the UAE in relation to regulatory and compliance matters and has supported many firms in dispute resolution, acting as an expert witness on a number of arbitration cases across the industry, in particular hospitality, real estate and construction, aviation, and FMCG. grantthornton.ae

18 / ENTREPRENEUR.COM / April 2020 Break through Now, it is highly likely that your current business plan is completely redundant at this time, and this has a very WHAT YOUR BUSINESS SHOULD FOCUS ON paralyzing impact on any business as the leadership tries AS IT NAVIGATES THE CORONAVIRUS PANDEMIC to work out what to do. Given the current remote working by MIKE HOFF paradigm that many companies have put into place, it’s now time to run your first virtual business planning session. This can be easily achieved by using platforms hile it is critical to manage your P&L account by re- such as Zoom or other video conferencing apps. ducing any unnecessary operating costs, improving The agenda for this session should be broken down Wmargins, and payroll cost, nothing is more critical to into where do we want to be in December 2020 in terms your business than the oxygen that we know as cash, which of results and initiatives, then breaking this down into will be under tremendous pressure as revenues dry up during monthly targets. In order to achieve this, you must identify the economic slowdown we are being subject to today owing only the top 3-5 priorities that you will focus on during to the coronavirus pandemic. With this being the case, here this time. Once these priorities have been set, it’s very are three key areas I’d recommend businesses to focus on in important to put the right key performance indicators in these unprecedented times. place to keep you on track, as well as to communicate First up would be your cash conversion cycle, which is a these on a very regular basis with your team. reference to how fast cash moves through your business, My final recommendation would be to establish an and into your bank account. In these times, when a lot of busi- effective communication rhythm, and I’d suggest a nesses are moving to an online environment, think of ways to morning virtual huddle with your team where you will speed cash through your business by improving your sales celebrate successes from the day before, track your cycle, reducing inventory to free up cash, improving ways to key numbers, identify each members priorities for the deliver your product or service, and finally, improving your day, and flag areas where people are stuck and require billing and payment cycle as well. The second area to focus support. This should take no more than 15 minutes on would be an analysis of all products and services that you every day. provide, rank them in order of profitability, and then remove the Weekly hour-long virtual team meetings should be least profitable from your portfolio. held, ideally at the beginning of the week where you will The third area is to fine tune your labor’s productivity. This track your performance against the KPIs identified, share is known as a labor efficiency ratio, where you calculate how feedback from customers and suppliers, and use the rest much gross profit you earn per labor hour spent. The aim here of the hour solving the biggest issue facing the company is to increase this number by either increasing your gross that week. By forming these habits, you will not only profit, or reducing your labor cost. Finally, regarding cash, en- ensure you will navigate these storming waters in a more sure that you are checking your cash balance daily, and have a controlled way, but it will also establish good routines for rolling 12-month cash flow forecast in place consistently. This when this current crisis passes- which is the one thing will identify any future time where cash may be short in supply. we can be certain of.

Mike Hoff is CEO of MHC Consulting and Regional Group Manager of The Alpha Group.mhc.consulting

April 2020 / ENTREPRENEUR.COM / 19 ‘TREPONOMICS SKILLSET

THE ROAD AHEAD How your small business can survive the COVID-19 pandemic by SHAHZAD BHATTI

There’s no doubt that small businesses will be the hardest hit from the current COVID-19 pandemic. The bigger businesses have a better chance of surviving; however, small businesses tend to live only with a few months of cash flow (at most), so when something as significant as this hits, it can be devastating not only for the small business owner, but also for the employees they support. So, how can small businesses survive the turbulent times coming ahead in 2020? There’s no easy answer; however, here are a few points to start implementing and planning at least for the next three months.

1/ Don’t panic, take care of yourself, and keep calm ideas to move forward. If faced with some difficult decisions, This can be difficult especially when cash is running out, but take time to balance yourself and your mind before taking remember to take care of yourself in a way that works for any drastic decisions. In what is a very dynamic and rapidly you- for instance, eat well, and try to get some exercise in. changing situation, sometimes taking a step back to reassess, Taking care of yourself will help you to keep calm, which in asking for trusted opinions, and also keeping perspective will turn will also mean keeping your staff calm, and ultimately, help. Things will get better, and you aren’t in this alone. Ask a healthier mindset for everyone to come up with innovative for emotional support where you can, and when you need it.

20 / ENTREPRENEUR.COM / April 2020 THE ROAD AHEAD | HOW YOUR SMALL BUSINESS CAN SURVIVE THE COVID-19 PANDEMIC

WHEREVER POSSIBLE, TRY YOUR BEST TO Look at your personal finances, and to them, and how can you accom- KEEP YOUR STAFF– THEY RELY ON YOU, speak to people you may support to modate who will likely be a new AND IF YOU HAVE MANAGED A GOOD TEAM, have a realistic discussion on how type of customer? Can you digitize to control your personal spending any of your products or services, THEY SHOULD BE SUPPORTING YOU. YOU for the next three months. What and start offering them online? Can COULD TRAIN YOUR EXISTING STAFF ON costs are necessary, what can be you implement technology to bal- ADDITIONAL SKILLS, WHICH COULD MAKE put on hold? If you have a partner ance any loss of earnings by offering THEM MORE PRODUCTIVE AND EFFICIENT, supporting you as you grow your new ways to connect with your RATHER THAN HIRING MORE STAFF. business as the breadwinner, have customers? an open and honest discussion with them about your immediate and 5/ Upskill your staff long-term plans for the business. Wherever possible, try your best to 2/ Tap into resources provided Also, look at ways you can cut costs. keep your staff– they rely on you, by government and financial But use this as a last measure after and if you have managed a good institutions we have seen at least two months team, they should be supporting Governments around the world are of damage from the COVID-19 you. You could train your existing already putting together initiatives pandemic. Your biggest costs would staff on additional skills, which to support small business own- usually be your staff and your office could make them more productive ers, and this is something that is rent. You could perhaps freeze hir- and efficient, rather than hiring evolving on a daily basis. Be up to ing any more full-time employees, more staff. There’s plenty of online date with how your governments and instead work on a project basis courses that are very affordable, can help cut costs, as well as with freelancers. You could also and these will allow them to focus other important institutions, such consider downsizing your office, on other areas of the business when as banks who also have a social and using a co-working space to their department is down- for responsibility. If you’re registered have more affordable and flexible instance, your sales team could in more than one market, explore payment terms. perhaps also help out the market- support options in both markets. ing team. We at The Co-Dubai top For example, you can find out more 4/ Find the opportunities 3-5 have launched an e-course on about the UK government support It’s never nice to capitalize on digital marketing for small busi- for small businesses there, and we events such as this, but they can nesses that is a great way to learn are also waiting to hear from the also be a wake-up call to reconsider how to create digital marketing Dubai government about a stimulus how you have been doing busi- strategies and implement them, and package to support SMEs in Dubai, ness. In this case, is your business it can be done from home while you which should be announced shortly. model able to survive the changes or your team is self-isolating. Look that will come from the COVID-19 for courses and resources similar 3/ Make a three-month pandemic? How do you expect your to this that most match your needs financial plan customers to behave moving for- and also your budget during this Every small business usually has ward? What will and won’t matter time. the same key expenses, which include employee salaries, office rent, and utility bills. Further expenses range from industry to industry. Speak to who you need to pay in the next three months (landlord and suppliers), and find out what options you have to spread out the costs. Chances are they may already have options in place, or will be understanding, as it’s in their interest to keep your business. Always be careful when you come up with payment plans with other small businesses, as they also need to keep afloat too, so this should be fair for both of you.

Shahzad Bhatti is the founder and owner of The Co-Dubai, a co-working space and one of the first small business accelerators to be certified

IMAGE COURTESY THE CO-DUBAI COURTESY IMAGE by Dubai SME. theco.me

April 2020 / ENTREPRENEUR.COM / 21 ‘TREPONOMICS PRO ADAPTING TO A NEW REALITY HOW LEADERS CAN WEATHER THE IMPACT OF THE CORONAVIRUS PANDEMIC ON THEIR BUSINESSES by LAHCEN HADDAD

he whole world is groaning ganization (WHO) considers COVID-19, these will have a resounding negative under the impact of the which has affected large numbers of impact on production and consumption rapid spread of the coro- people on several continents, a pan- and on global economic growth in 2020 navirus (COVID-19), which demic. and even in 2021. has struck more than 160 No one knows as yet the extent of the Most businesses worldwide were to- countries and killed thou- economic impact of the pandemic. What tally unprepared for such a cataclysmic T sands of people in China, is certain is that the paralysis of air disruption. It is quite possible that Italy, Iran, and Spain. The virus is, as traffic, the shutdown of tourism activi- some of them have plans to deal with we speak, aggressively spreading in ties in almost all markets and destina- crises that may arise in relation to pub- France, the UK, and the United States, tions, the disruption of supply chains lic opinion or customer behavior, or to while other less affected countries (in originating from or going through deal with a legal situation or a crisis of Europe, Asia, MENA, Africa, and else- China, the rush to purchase goods in confidence in the brand, etc. But none where) are rushing to take draconian anticipation of health curfew restric- had ever imagined a generalized as well measures to thwart the rapid outbreak tions, and the possible disruption of the as a large paralysis of world economy of the epidemic. The World Health Or- labor market in many countries, all of everywhere and at the same time. >>>

22 / ENTREPRENEUR.COM / April 2020 HOW LEADERS CAN WEATHER THE IMPACT OF THE CORONAVIRUS PANDEMIC ON THEIR BUSINESSES

Doe Zantamanta’s famous saying: “It is only in our darkest hours that we may discover the true strength of the brilliant light within ourselves that can never, ever, be dimmed.” Seek light within you and let it shine on your sur- roundings as hope; be the beacon that leads the tribe out of troubled waters. ADAPTING TO However, as Arjen Boin, Sanneke Kui- pers and Werner Overdijk have argued in an article called Leadership in Times of Crisis: A Framework for Assess- ment, leadership does not just mean taking symbolic action, but focusing

MCKINSEY.COM/ on real issues through communication and critical decisions related to work A NEW REALITY management, production, relation- ships with customers, suppliers, and the public at large. Start by protecting Unprecedented times need well- THE FIRST THING TO DO IS TO GET yourself, your collaborators, your staff, thought solutions. Below is a set of EVERYONE INTERESTED IN POST- and your customers. The advice of precautionary measures to adapt to the health authorities should be followed reality of the pandemic and its impact CRISIS WORK. STAFF SHOULD to the letter. You can rely on the WHO on businesses and the economy, while REMAIN IN CLOSE CONTACT note, New Coronavirus (COVID-19): waiting for the avalanche of bad news WITH CUSTOMERS AND EXPLAIN Advice to the General Public to estab- to settle down and allow us all to as- THE MEASURES YOU HAVE PUT lish clear protocols that apply to every sess the damage. This advice is based IN PLACE, AND KEEP LINES OF transaction or contact within your on what we now know in late March COMMUNICATION OPEN WITH business. It is true that employees, 2020. The pandemic is still raging customers, and collaborators will not as we speak, and nobody can predict THEM THROUGHOUT THE CRISIS. change their behavior overnight; there- when and how it will end, or say for fore, the extent to which the instruc- sure now what its impact is or will be. lead to an even deeper recession than tions are followed should be assessed What is certain, at least as far as I am the one caused by the 2008 financial daily, and regular drills should be concerned, is that it will inevitably crisis. carried out so that health safety rules First, stay calm. Of course, it is dif- become an integral part of daily work ficult to control your nerves if you management. are the general manager of a hotel in Set up an ad-hoc committee to Dubai, Paris, Marrakech, New York, monitor the situation. The committee Cape Town, Manila, or Barcelona, should include representatives from all and you see reservations vanish like relevant departments. The composition thin air, while the occupancy rate is of the committee varies from sector nosediving at high speed. However, it is to sector, and new members can be in times of crisis that your leadership included as needed. The mission of this is tested. You are the leader, and lead- committee is to collect data, monitor ers, like pilots in times of turbulence, the evolution of the situation on a speak in a calm voice, to reassure, to regular basis, and inform top manage- inform, to lead, to set the example. ment decisions. Assessment must be Charles de Gaulle once said that "faced regular and continuous, especially that with crisis, the man of character falls government decisions, affecting your back on himself. He imposes his own business, change on a daily basis. As stamp of action, takes responsibility Edwards Demming once said: “3% of for it, makes it his own." Be the man or the problems have figures, 97% of the woman of character for the situation problems do not.” Getting data for the at hand. It’s daunting for sure, but you problem is your best way to monitor will come out of it stronger if you lead the situation and to make informed with force and fortitude. Remember decisions. >>>

Operation: Falafel

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Work to build confidence in times of as Paul Barton said, crisis. As Stephen M.R. Covey explains “are created to fill the in his famous book, The Speed of Trust: information void.” The The Factor That Changes Everything, “void” is a space that is creating a culture of trust requires normally yours, but you behaviors and attitudes based on trans- choose to leave it empty parency, honestly facing reality, laying for others to occupy, the groundwork for mutual loyalty, if you do not commu- correcting errors, good management of nicate. Make sure also expectations, and a sense of accountabil- you tell all stakehold- ity. In times of crisis, it is imperative to ers of your plan for reinforce these attitudes on a daily basis, recovery once the storm especially that employees and custom- settles down. ers experience anxiety and fear as they Keep your employees, live through the unnerving experience don't fire them. At of shutdown, restrictions, and lower times of distress, the productivity. The toll on confidence may values of solidarity be far-reaching if you don’t act on rein- must prevail. Preserv- forcing trust. Even if you make difficult ing employees' liveli- decisions about staff, it should happen hoods at a time when

in an atmosphere of openness, transpar- job opportunities are BUSINESSINSIDER.COM ency, and mutual trust. almost non-existent Communicate regularly. Tell your is an ethical question, staff, your partners, collaborators, sup- of course. But it makes good business prepare for the post-flood period. Some pliers, and customers all the news. Give sense as well. Protecting human re- staff members rowed on boats to report them a real sense of the damage. There sources is an investment in the future. to work and help with the cleaning. is no use in hiding or delaying the If you downsize and things go back When the waters receded a few months publication of some news, as everybody to normal in a few weeks, you will be later, Western Digital was ready to go to knows that businesses are bleeding. wasting valuable time looking for new business, its workforce more motivated Make sure everyone is informed of the talent at a time when what you need than ever before; they were proud they decisions you have taken, no matter are people with already a good knowl- did not give up when their company did how painful they are. Keep everybody edge of customers and products to help not give up on them. informed as the situation unfolds. Be you quickly restore your position in the Create a flexible plan that takes into the first to tell your bad news and your market. Always remember the famous account all possible scenarios. The good news. Own the situation, despite saying by Doug Conan, former Presi- McKinsey Institute, in an article called the fact that COVID-19 is not of your dent and CEO of the Campbell Soup COVID-19: Implications for Business, own making. Remember that “rumors,” Company, “to win in the marketplace, describes two scenarios for epidemic you must first win in the workplace.” development based on how different To come out of a crisis ready to “kick governments are managing the spread back,” keep and protect your best am- of the pandemic. Either a progressive bassadors to your customers, i.e. your control of the pandemic by mid-April employees. starting from East Asia, then Europe Shawn D. Moone and Sue Dathe- and North America, or the pandemic Douglas in their book, The Ultimate worsens and the situation remains Competitive Advantage, Why Your unchanged until May or June. On this People Make All the Difference and basis, McKinsey experts have developed the Six Practices You Need to Engage two different scenarios of the economic Them, said that Western Digital faced impact of the pandemic. First scenario: a real crisis when a devastating and "large-scale quarantines, travel restric- prolonged flood struck Thailand in the tions, and social-distancing measures summer of 2011 and almost destroyed drive a sharp drop in consumer and the Bang Pa-In Industrial Park north business spending until the end of Q2," of Bangkok where its production units which, in turn, will lead to an eco- were located. While most companies nomic recession. Low consumption and downsized and waited for the waters to plummeting consumer confidence will recede, Western Digital mobilized all its continue through Q3 of the year, and staff to use their hands and any kinds it will have a negative impact on busi- of tools they could find to clean and ness and could lead to workers layoffs AN ARABIC VERSION OF THIS ARTICLE WAS PUBLISHED BY HARVARD BUSINESS REVIEW ON MARCH 18, 2020, WRITTEN BY THE SAME AUTHOR THE SAME WRITTEN BY 2020, 18, BUSINESS REVIEW ON MARCH HARVARD PUBLISHED BY WAS AN ARABIC VERSION OF THIS ARTICLE

24 / ENTREPRENEUR.COM / April 2020 HOW LEADERS CAN WEATHER THE IMPACT OF THE CORONAVIRUS PANDEMIC ON THEIR BUSINESSES

“IN A CRISIS, BE AWARE OF THE DANGER- Finally, as Martin Reeves, Nicholaus Lang, and Philip Carlsson Szlezak BUT RECOGNIZE THE OPPORTUNITY.” confirm in an article published in JOHN F, KENNEDY Harvard Business Review called Lead Your Business Through the (ibid.). Central bank interventions will Business Association published a note Coronavirus Crisis, you should continue with "quantitative easing" called Coronavirus: Guidelines for now think about the lessons you (buying guaranteed bonds to infuse Small Business containing a series of could learn from the crisis, and money into the market), but their effect recommendations, consisting of assess- prepare already for the next crisis. will remain limited. ing the need for capital to compensate It means not only psychological The second scenario is prolonged for the lack in liquidity, reviewing and intellectual preparation, but a recession throughout the year, and insurance contracts to fit the new real- real planning for the possibility of a sharp drop in demand, and the ity created by COVID-19, and assessing it happening at any time. In 2017, emergence of a deep crisis in the labor the risk of disruption in the supply Microsoft co-founder Bill Gates, in market (due to massive layoffs), and chains. The disruption could come from an op-ed in Business Insider, warned persistent and sharp volatility in the customers as well. In so many coun- that the next epidemic could be "a financial markets. Only the banks will tries, consumers have rushed to market super contagious and deadly strain be spared this time because they have stores in huge numbers “overbuying” of the flu," and said that epidemics a good capitalization and are subject in fear of a possible shortage in food are the biggest challenges the world to strict prudential supervision (ibid). and other consumer goods. This could would know in the next few years. You must therefore clearly study the put you under pressure as a producer, The international community should impact of these possible changes on the distributor, or service provider (hotel devise mechanisms, tools and proto- sector in which you work and develop or restaurant) whose business depends cols to deal with pandemics without an adequate plan. The first thing to on the same goods coveted by nervous shutting off the economy; the same do is to get everyone interested in citizens these days. You must diversify goes for businesses; they must post-crisis work. Staff should remain your sources of supply to be able to consider epidemics an inevitable in close contact with customers and make up for shortage or meet tempo- risk, just like other risks. Are you explain the measures you have put in rary higher demand for your products. epidemic risk-ready? place, and keep lines of communication open with them throughout the crisis. You should also take advantage of the period of low demand and production to repair internal systems, straighten value chains, perform internal recon- figurations, and prepare everybody for the recovery period. John F. Kennedy, who lived through the Bay of Pigs (1961-62) crisis that almost developed into a nuclear war, had said that “the Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger- but recognize the opportunity.” It is at the time of crisis that you get ready for the post-crisis period; when things get back to normal, it will be too late to plan and prepare. Study your needs in capital and insur-

HARVARDBUSINESSREVIEW.COM ance coverage. The American Small

Lahcen Haddad has been Minister of Tourism with the studies of national and international importance endowed him with a mastery Government of Morocco between 2012 and 2016. As Minister, of geostrategic issues, economic development, public policy, international he has overseen the shift of Morocco towards becoming a relations and issues of governance at local and international levels. Haddad leading destination in the Mediterranean, Africa and the Middle also taught as a university professor for over 20 years with institutions such East and a reference country with regards to sustainable as Indiana University, Saint Thomas Aquinas College in New York, the School tourism. Before joining the government in January 2012, Dr. Haddad worked of International Training in Vermont, Mohamed V University in Rabat and Al as an international expert in strategic studies, democracy, governance and Akhawayn University in Ifrane. At the World Learning School of International development, and as a certified expert in strategic planning, monitoring and Training, he was for ten years the Academic Director for the SIT Morocco evaluation, diversity and entrepreneurship. His involvement in programs and Program and area thought leader for the Academic Directors community.

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For most, the idea of remote working is just that- an idea, never put into practice. Some businesses will have already adopted flexible working as standard, in line with changing lifestyles and a more switched-on world. In the US alone, there was a 159% increase in people working remotely from between 2005- 2017, with more sectors opting into this kind of culture. Still, there will be companies now struggling to pivot, having lagged behind in adapting their strategies in the past, or belong to a sector that is primarily front-facing, such as those in the food or fitness industries. For the latter, there will be a different set of obstacles instead of archaic management structures to face, yet, we’ve already seen examples of businesses getting creative when working at a distance. Personal trainers have filmed online sessions and webinars, whilst food hubs are creating do-it-yourself (DIY) kits or offering free delivery, so everyone can still enjoy the experience at home. Prior to lockdown, this may not have been a Going the distance core part of their business model, yet, their active response is likely to be well remembered by their consumers once Why remote working is the key this crisis is over. Still, one thing is certain- it won’t be an to a flexible futureby CARLA SALIBA easy transition, but with every challenge lies an opportunity, and as the majority of offices move online, we have a chance to implement effective remote work here are few things in life that can make the world protocols that go beyond a knee-jerk response to the outbreak, and instead lays stop and take a collective pause. I can recall only the foundation for a more digitally-mind- a handful of incidents during my lifetime, like ed future. Ultimately, it’s up to us all to the horror of 9/11, or the fear that accompanied create a framework that brings remote the financial crash of 2008. But the coronavirus working to the forefront, not as a last resort or even as an alternative option, but pandemic- this is something very new and perhaps even as the primary way to work different. The outbreak, and our subsequent moving forward. handling of it, will fundamentally change our If that sounds too bold or daring, con- working lives as we know it. sider the circumstances that have led us Mass quarantines, closures, and cancellations are forcing our here, and what we all now face on a glob- T al scale- things have to change. Whilst hand, challenging the working world to adapt, and adapt fast. the future of work has long been a topic At times such as this, it’s helpful to remember that we’re all in up for exploration (a welcome keynote at this together. All facing the unknown. All uncertain of what will each World Economic Forum Summit), few could have predicted how this pan- come next. Remote working on this scale will undoubtedly be demic would light a fire under the dis- a challenge, but there is no longer a choice for compliance- it’s cussion. The fourth industrial age is here, essential we get to grips with this sooner rather than later. and with it, the tools and technology we

Carla Saliba is the founder of Infographic.ly, a data-design and visualization agency based in Dubai, supporting companies communicate data to its stakeholders clearly and effectively.infographic.ly

26 / ENTREPRENEUR.COM / April 2020 GOING THE DISTANCE | WHY REMOTE WORKING IS THE KEY TO A FLEXIBLE FUTURE

EVEN BEFORE THE CORONAVIRUS FORCED THIS tends to the workforce too. A tions are already happening survey done by Buffer in 2019 as this situation unfolds, but CHANGE, THE WORKING LANDSCAPE WAS ALREADY reported that 99% of employ- I believe on the whole, we BECOMING MORE DYNAMIC AND FLUID; THE 9-5 ees questioned would like to will come out of this stronger OFFICE LIFE NO LONGER CONSIDERED THE MOST work off-site for at least one and more resilient than ever point in their career. In our before. “Business as usual” no EFFECTIVE WAY TO MEASURE PRODUCTIVITY. case, 60% of our employment longer applies in today’s cli- network is based in Lebanon, mate, so we need to find a new, need to move the conversation which we can all be leaner and in times such as these, more relatable way to operate forward, putting safeguards in in our operations. Arguably, we’re able to double down on and grow our companies; an place so that if we were ever to without everyday distractions, supporting talent in the region opportunity that remote work- face anything like this again, this is when we can be at our and create new opportunities, ing can afford us, butonly if we’d be better prepared as a most creative, free from the because we already have this we go all in. Don’t think of this nation. general monotony of life! culture established. We’re see- as a stopgap solution, think of Even entrepreneurs and Even before the coronavirus ing this thinking become more it as the next evolution of the SMEs, who are arguably more forced this change, the work- of the norm for new mothers working world. agile than the big corporates, ing landscape was already too, who often struggle with 2020 is already going to be have an opportunity here to becoming more dynamic and the work/life balance when remembered as the time when better hone how they work. fluid; the 9-5 office life no they start a family. Two of humanity went into lockdown, They are also best placed to longer considered the most our designers have found that but I think it should stand for guide others on making the effective way to measure remote working has afforded something else, something shift to remote working more productivity. Over the years, them the best of both worlds, much stronger; the year that successful, especially as the we’ve been fortunate to work with everyday life just run- we turned the working world lines between work and home with some great global clients ning concurrently in the back- on its head and emerged in will continue to blur into nor- (BCG US, for one) and our ground. And, if I’m honest, a better shape than ever. Who’s mality, at least for the foresee- communication has always cute toddler entering the chat with me? able future. In my company, been managed remotely. We’ve frame now and again is only Infographic.ly, we adopted a never met face-to-face, and yet going to improve your mood. AS THE DUST BEGINS partial remote working cul- we operate as an extension of At the end of the day, no- TO SETTLE OVER THE ture from inception, opting to their office through online chat one will come out of this un- COMING WEEKS, WE’LL SEE become 100% fully remote/ or email. It’s an effective and scathed or unchanged. There’s EFFICIENCIES START TO COME flexible a few years ago, so for efficient way to work that -al a serious humanitarian issue UNDER THE MICROSCOPE, companies like us, our opera- lows companies to extend their at the heart of this pandemic, WITH BUSINESSES REALIZING tions have remained intact, reach, without having to have and we all need to be aware THAT FOR THE MOST PART, albeit with a reduced output a physical presence in each of how to flatten the curve by “OFFICE LIFE” CAN STILL as a result of the current eco- market they are active in. minimizing our contact with CONTINUE IN A VIRTUAL nomic climate. This same principle ex- others. The economic ramifica- SETTING. What’s clear to me is that there are always lessons to be learnt in times of distress. It’s when we as the human race rally and adapt as we have done throughout history. As the dust begins to settle over the coming weeks, we’ll see efficiencies start to come -un der the microscope, with businesses realizing that for the most part, “office life” can still continue in a virtual setting. We’ve all seen that meme on social media about meetings that could have been emails, and beyond the humor here, there’s truth to these words. We should take this time to really review our working structure, and identify ways in

April 2020 / ENTREPRENEUR.COM / 27 ‘TREPONOMICS MARKETING

as well as monitor government announcements. Set up keywords monitoring to be aware of the latest news 24/7; this will help your business respond fast to any changes on the market or in your sector.

2/ CONDUCT A MARKET AND AUDIENCE ANALYSIS (AND GO ONLINE) Review your audiences’ needs and assess what value can your brand provide. Segment your audience to communicate the information based on their priorities and needs. Communicate regularly with customers, partners, staff, and be proactive with communities. Live streaming is now an option, and webinars are becoming even more popular. It is important to share facts CRISIS COMMS in real time, and approach all efforts individually based on A four-point checklist for effective brand communication the current scenario. Armed through the coronavirus outbreak by ANASTASIYA GOLOVATENKO with industry insights, it is now more important to develop a communication plan that covers he coronavirus out- seven individuals after consum- from across the organization to what you will do, when, and break has put almost ing their best-selling painkiller, prioritize the issues that need how. Define key messages for every country in the Extra Strength Tylenol. The to be communicated to relevant a number of scenarios, and be world on alert im- company established a set of stakeholders. Businesses should prepared to handle any incident pacting businesses best practices for communicat- communicate relevant updates that may incur. It is important and economies. ing in a crisis, including speak- from various verticals such as that every brand is able to T Brands are faced ing early, often, and directly supply chain, human resources, handle the crisis, and is backed with tough decisions in the with its consumers, resulting operations, health and safety, up with reliable facts, media- wake of the global health crises, in the company to regain 95% and more. Ask yourself these trained spokespeople, and the forcing individuals to adapt to of market share within a few important questions: what right channels for delivery. evolving conditions. In the wake months, and ultimately enhanc- processes do you have or need? of a global crisis, effective coming the company’s reputation. What emergencies should 3/ BECOME AN AUTHORITY IN munication strategies are more Here’s a quick checklist for you plan for? What are your YOUR SECTOR Produce expert- important than ever, and pro- brands on how businesses can strengths and where is the level content that carries viding transparent and consist- sustain their brand voice, keep weakest point? Prioritize issues insightful and useful info. ent communication is key. the communication channel of urgency, and address the Remember, everyone is looking Timely communication during open with customers and other impacts of the circumstances a for a measured, reliable, and a crisis goes a long way, and it stakeholders, while also main- on the industry. At this stage, authoritative voice, whether can spell the difference between taining their calm: it is important to identify in print, video, live or online. a brand’s survival -even en- what value can be provided as This voice will need to provide hancement- and its irreversible 1/ CONDUCT A SWOT an organization to the wider advice on reason, and bring tarnishing. The best example ANALYSIS Assess the various community. During the crisis calm to the storm. Tailor your for this would be the 1982 case risks associated with your outbreak, it is now more crucial message to your audiences of Johnson & Johnson’s imme- business in times of a crisis, than ever to keep an eye on and utilize digital and social diate response on the death of and identify functional leaders updates related to the industry media channels available to

Anastasiya Golovatenko is an accomplished PR professional and business advisor who leads a Dubai-based communications consultancy Sherpa Communications. With more than 12 years of expertise developing and executing all aspects of public relations and marketing campaigns, she provides senior counsel to brands of any size and structure, helping them achieve business objectives and meaningful results through the strategic use of communication. sherpacomms.com

28 / ENTREPRENEUR.COM / April 2020 EFFECTIVE BRAND COMMUNICATION THROUGH THE CORONAVIRUS OUTBREAK

you: website, LinkedIn, Twitter, Facebook, Instagram, CONTENT COMES FIRST YouTube. Social media is an A PR checklist for entrepreneurs dealing with the COVID-19 crisis indispensable source of vital by LOUISE JACOBSON information– we live in a 24/7 news cycle world. Social What can entrepreneurs be doing PR-wise in this 6. PREPARATION IS KEY Ensure you have statements networks have matured in time of crisis and uncertainty? Many companies in prepared for all possible scenarios you can think terms of their functionality, the region have had to make budget cuts across of. Have you prepared for an employee contract- and consumers are jumping all lines of business, so I hope this checklist at ing COVID-19 and it escalating to media? Have you on to social media channels least helps someone who maybe doesn’t have PR got social media Q&A’s for customer concerns on to look for directives, making support right now. hygiene? Handling this correctly is vital. This is where it the easiest way for brands brand trust can be won and lost in an instant. to reach their audience. 1. DO A STAKEHOLDER SENSE CHECK You’re But do remember, with probably on this already, but if not, talk to all your 7. KEEP COMMUNICATING REGULARLY Don’t go the amount of fake news stakeholders involved with comms and decision quiet. Even if your business has been impacted, keep circulating on social media, making as soon you can. Garnering their collective talking. Government directives are changing daily, and businesses need to deliver viewpoints will ensure you have everyone’s input you have a duty of care to reassure people that you’re content that is credible, from the start, and it will help shape your new complying with them and will keep them updated backed up by data and facts. strategy and make next steps easier. as things develop. Keep talking and listening to your audience and customer base, the beauty of social COMMUNICATE REGULARLY 2. DEFINE OBJECTIVES AND STRATEGY Your objec- media is that you can have a two-way conversation. WITH CUSTOMERS, PARTNERS, tive may be survival right now. Or it could be look- STAFF, AND BE PROACTIVE ing at attracting a new audience. Either way think 8. BUILD CREATIVE CONTENT A content-led approach WITH COMMUNITIES. LIVE strategically about opportunities that can make is a great strategy for your marcomms right now, and STREAMING IS NOW AN OPTION, a difference, and align PR and comms to it, but it can be very cost-effective- all you really need is a AND WEBINARS ARE BECOMING whatever you do, do not benefit from this situation decent smartphone and internet access. Remember EVEN MORE POPULAR. and people’s misfortune. A phased PR strategy is a this isn’t a time to benefit, it’s a time to show you solid idea. What do you need to do right now? And care- e.g. if you’re a management consultant, could 4/ RESHAPE THE WAY HOW what will you do when this is over? Because it will you release some content on how organizations YOU CONDUCT BUSINESS be at some point. should be temporarily re-structuring their businesses, COMMUNICATION Conduct or give some practical tips on working from home and webinars to educate, share 3. RE-EVALUATE YOUR PLANS The comms plan keeping employees motivated? Get creative, but in an expertise, reconnect with you had last month, or even last week, is now empathetic and authentic way. business partners, clients, defunct. Relook at all your plans now, get a new and vendors. Consider one in place, and keep refining it as often as you 9. GIVE BACK We all need to help each other get public service sessions, such can. Things are changing all the time and you through this, so what can your business do to make as streaming live sessions need to make sure you’re adapting in all areas of a difference? Can it donate money to charity? Could solo or with experts who marcomms. your manufacturing facility produce garments for can legitimately discuss those on the front line of COVID-19, or can you help the topic. Such online 4. BE HUMAN Your overall positioning and tone with the distance learning movement? If you make activities are a safe way to of voice should be one of safety, empathy, all a positive impact right now, you will generate brand interact with your industry delivered in a human way. Soften language, banish affinity, and people will remember it. Whatever you do, network and consumers corporate jargon, and ensure sensitivity. Now more please make sure it’s within legal guidelines. while supporting them than ever, your audience wants to see and hear with valuable advice and from human beings. 10. STRESS ON MEASUREMENT AND ANALYSIS keeping that retention level This is still fundamental to ensuring what you’re high. To keep your business 5. SHOWCASE STRONG LEADERSHIP You need doing is working in the right way. Yes, the quantita- communication efficient, to show this now more than ever. Ensure clarity, tive metrics are still important, but more important dive into the diverse world empathy, and strength via all communications. are the qualitative ones, bearing in mind it’s all about of business apps like Zoom, Have you spoken to all your clients and re-assured humanization of our activity right now. Looking at Microsoft Teams, Screenflow them? Are you checking in daily with team the comments on social media posts and getting (video conferencing tool for members working remotely? Could you look at feedback from stakeholders will ensure that you stay remote communication), some video content to convey your message in a on track. Slack, Twist, Google Chats more human way to inspire confidence with your Stay safe, stay strong, and remember, this too Hangout (messaging apps stakeholders? shall pass. for the whole team), while project management can be carried out using Trello, Louise Jacobson is the Managing Partner of Brazen MENA, a MEPRA and PRCA MENA Small Asana, and Monday. Consultancy of the year 2019 and 2020. She has 18 years of experience across all sectors of PR and has worked in Europe and The Middle East. Louise is a MEPRA Strategy Board member, Global Women in PR MENA member and industry awards judge.

April 2020 / ENTREPRENEUR.COM / 29 ‘TREPONOMICS PRO

Can be refocused in meaningful ways to be relevant today If you have a campaign that naturally lends itself to being re-focused to fit the current crisis situation, then you have yourself a plan. Don’t force relevancy if it doesn’t naturally exist, and don’t provide any misleading or sensational information.

Cannot be explicitly refocused, but can still be relevant today If your campaigns can’t be refocused, no problem. There are many journalists right now looking for ethical, positive stories to add variety to their news coverage. Just be mindful of remaining empathetic with the current Hit the ground running situation. Cannot be refocused, and is not Seven steps for PR professionals to take relevant at all today For campaigns that simply don’t have a place right now, keep in times of crisis by LAMA ABDELBARR them on the backburner, and maybe you’ll even have time to refine them further, and prepare for an epic launch when the time allows for it. n times of crisis and uncertainty, Internal stakeholders (employees) we find ourselves asking a lot of A successful company is built on its 4/ FIND WAYS TO ADD VALUE questions about how to cope. Hu- people, before anything else. Make This is not the time to upsell or take ad- mans, by nature, seek comfort and sure you are communicating with them vantage of people’s needs. Rather, this is order. So, to shape up when the go- regularly, transparently, and swiftly. a time where you can put (actually mean- ing gets tough, here’s a list of seven ingful) corporate social responsibility I steps that PR and communications External stakeholders (clients strategies into place, or simply showcase professionals can start taking right now: or investors) Again, be clear and the human side of your brand. Helping transparent about the changes your others is one of the most selfish selfless 1/ IMPLEMENT (OR PUT TOGETHER) YOUR business is inevitably undergoing. acts available to us, and during times of CRISIS COMMUNICATIONS PLAN Update them as regularly as needed. crises, we all need to feel a little good Ideally, you should have a crisis comms Share concrete details about how this about ourselves, and share some positiv- plan in place for your business or your will impact them. Have your hours of ity! If there is a way to balance between clients. If not, it’s not too late to start availability changed? Are your offerings helping out and serving your business putting one together using a plethora of changing? Invariably, clients and needs, that’s lucky. If not, don’t force it. useful templates available online and by investors will have changes on their side Prioritize empathy. following the below steps. Set up real- too, and being honest and forthcoming is time alerts to monitor relevant mentions, the best way to navigate these changes to 5/ STAY AGILE news alerts, updates, or guidelines that reach a middle ground. Yes, your daily, weekly, monthly, and your team and company should be aware quarterly plans and forecasts will have to of. Not only is this important to stay Media Believe it or not, during times change. So will your yearly ones. This is informed and shape your reactive com- of crisis, the media doesn’t just want the time to practice what we preach (or munications strategy, but it will also help to cover the crisis. Diversity in news is what we write on our CVs at least) about you with the following two steps. always welcome and the media recognizes being agile. Start thinking about ways that their audience would appreciate you can adapt your strategy, and accept 2/ COMMUNICATE CLEARLY AND positive news too. More on that below. the fact that there are a lot of variables CONSISTENTLY WITH STAKEHOLDERS and moving pieces. Can you reallocate Create safety and security through em- 3/ REVISIT YOUR PLANNED CAMPAIGNS your events or offline media budgets to pathetic and consistent communication. AND OUTREACH online activities that can benefit your Make sure you’re speaking to both your Revisit any digital PR campaigns you had business? This is not to say that you internal and external stakeholders as you planned, and decide which of the three should overthink and worry about worst navigate through changing times. below categories they fit into: case scenarios- but just start putting

Lama Abdelbarr leads on digital communications for Middle East and Africa at Talkwalker, a media monitoring and analytics company that empowers over 2,000 brands and agencies to optimize the impact of their communication efforts.talkwalker.com

30 / ENTREPRENEUR.COM / April 2020 HIT THE GROUND RUNNING | SEVEN STEPS FOR PR PROFESSIONALS TO TAKE IN TIMES OF CRISIS

some initial thoughts on paper. Having a etc.? Guess what? If your day-to-day rent situation is taking a toll on our abil- tangible starting point can do wonders to work is slowing down, this could be the ity to focus and move forward. And that’s relieve stress and anxiety. Focus on your time to get these things done. This is also okay. Set a realistic and achievable goal short-term plans and goals too to make the right time to invest in your online of one thing you would like to improve or sure you come out of this as strongly as offerings- enhancing user experience can grow during this unique time, so you can possible. be more important than ever right now. allow yourself to later enjoy the feeling of accomplishment. It could be as simple as 6/ FOCUS ON ONE THING YOU CAN 7/ FOCUS ON ONE THING YOU CAN reading a book, or as exerting as follow- GROW FOR THE BUSINESS GROW FOR YOU ing through with a personal project, or How many times have you pushed the It’s easy to think that the time freed up signing up to an online course. Brushing deadline on a nice-to-have but not es- by reduced commute and social obliga- up on new industry research and trends sential project? How many times did you tions should amount to many ticks on a is also a good way to fill up slow days, wish you had more time to streamline seemingly endless personal to-do-list. and can help you feel better equipped tasks, improve strategies, embellish tem- But we are quickly starting to see that to hit the ground running once order is plates, expand media and influencer lists, the sheer novelty and scope of the cur- restored.

MONEY MATTERS HOW TO FINANCIALLY SUSTAIN YOUR BUSINESS OVER THE COURSE OF THE CORONAVIRUS PANDEMIC by NICHOLAS JOE CORREIA

With the coronavirus pandemic tightening rules and restrictions debt today. However, it may not be the best decision right now. Also, around the world, it’s natural for entrepreneurs and businesses to do not hesitate to reach out and ask for an extension. Everyone is in see a growing concern rise with respect to surviving this market. the same position as you are. We will all get through this together. During these rough times, it is vital to take some time and understand the financial position of your business, and plan for multiple possible 4. FIND NEW SOURCES OF REVENUE A change in the way businesses scenarios expected. If you are worried about the outcome of this operate is not necessarily a bad thing. It opens the doors to a new slowdown, there are some financial moves you can make to protect opportunity. Ask yourself: “How can I operate a business and offer your position. Here’s how: customers our services in this new business lifestyle?” Adapting to the changes in the economy is how businesses make it through 1. IDENTIFY WAYS TO CUT BACK The time for a cleanse is now. Dig difficult times. It is a new opportunity for your business to evolve in a into your ongoing expenses, and identify the ones you can eliminate. new, unfamiliar market. In this modern age, apps and softwares help us with our day-to-day tasks. It’s a blessing and a luxury. But this is a time to ask yourself: “Do 5. PROTECT YOUR CASH FLOW Cash is the oxygen to a business. It I need this?” Cost-cutting is not built for comfort. You will go through flows in and out, keeping the company alive. As long as you have it changes within your business, but every little effort will help you flowing in, you can make it work. You cannot have a business without improve your financial health. Take it as an exercise to identify neces- cash outflows. A well-balanced cash flow maintains an equal and sity, and cut out luxury. controlled level of cash inflows and outflows. Engage in new payment options to encourage cash flow. Offer early payment cashback if 2. PLAN FOR EVERY OUTCOME There is a best-case scenario, a worst- possible. Survival is the key element here. Always protect your cash case scenario, and everything that falls in between. You cannot avoid position in this market. the outcome, but you can prepare yourself for it. Run various scenarios through your cash flow projections. Revenue will take a big hit 6. MAKE THE MOST OFF CURRENT CLIENTS It is a time to support one during this time. Payments will be slower than usual. Cash inflows will another, and not gain off of the situation. Treat this as an opportu- become a burden. At this moment, we cannot predict when this pan- nity to build loyalty with your clients. Offer them special rates to get demic will end. As such, if you have devised a protocol for all possible through this. Be by their side, and maintain the relationship. After all, outcomes, you’ll be ready to let it take motion when the time comes. loyalty is the best investment a business can have. It protects future income and influences new ones. 3. REVIEW YOUR DEBT As uncertainty grows, so will the inquiries on debt settlement. Identify your current cash position, run through the These are the times to protect our financial position. Take every numbers, and create a payment plan. At times like this, it is essential measure possible. At the end of the day, there is no definite way for to maintain a cash flow balance. Do not pay out more than what a business to protect itself from financial difficulties, but it all boils comes in. Pay once you get paid. It may seem plausible to clear your down to taking smart decisions early on. Good luck!

Nicholas Joe Correia is a freelance finance professional working with SMEs in Dubai focusing on building their financial position, strengthening their performance, and preparing them for stability and growth. linkedin.com/in/nicholasjoecorreia

April 2020 / ENTREPRENEUR.COM / 31 START IT UP ECOSYSTEM

THE NEW MARKET LANDSCAPE The coronavirus pandemic versus the digital economy: the pitfalls and the opportunities by JAD HINDY

32 / ENTREPRENEUR.COM / April 2020 THE NEW MARKET LANDSCAPE | THE CORONAVIRUS PANDEMIC VERSUS THE DIGITAL ECONOMY

Several high-profile marketing events have been canceled due to coronavirus concerns. Unfortunately, many businesses won’t see that money back. But even in the wake of a pandemic, there could still be a silver lining for marketers.

ith businesses closing their doors and gov- circuit dwindles, some exhibi- ernments tors are looking for other ways "Better utilization of data and W urging to fill their sales pipelines. I technology to drive more individualized their citizens to stay home, the just talked with one client who consumer experiences is where this coronavirus has had a profound is seeing several tradeshows battle will be won or lost.” global impact. At MRM, the get canceled, and wants to put company I work for, we have more into digital to make up for shifted to working from home, the lost leads they usually pick and so far, we are still deliver- up at events.” But the shift to digital will only achieved through the introducing on our projects, and keeping become stronger, as Stuart tion of digital technologies and our promises to our clients. Mackay, General Manager at e-commerce. Better utilization However, we can’t deny that Reprise Dubai puts it: “This is of data and technology to drive companies, particularly those the most significant health-re- more individualized consumer dependent on marketing and lated crisis that has fortunately experiences is where this battle advertising, are experiencing happened in a truly digital age. will be won or lost.” some of the biggest challenges. During dark and uncertain Several high-profile marketing times like these, it’s imperative THE E-COMMERCE events, including Mobile World Tim Jensen, Campaign Manager that organizations adapt quick- OPPORTUNITY at Clix Marketing Congress Barcelona, Facebook’s ly and seek out new growth In parts of China, major retail- Global Marketing Summit, F8 Another marketing shift is opportunities. The realities of ers like Starbucks, Nike, and conferences, SXSW, Salesforce toward virtual events. Even changing consumer behavior in Apple have temporarily shut- Dubai Basecamp and others Microsoft decided to turn its the digital age presents a huge tered their stores, while smaller have been canceled due to coro- biggest event of the year, the opportunity for retailers. The retailers are being hit hard as navirus concerns. Unfortunate- Microsoft Build, a developer optimization and simplifica- foot traffic declines. Across ly, many businesses won’t see conference,, into a virtual event. tion of product lines, business the globe, the reduced in-store that money back. But even in This trend presents an opportu- models, customer engagement, activity is driving increased e- the wake of a pandemic, there nity for virtual events startups and sales channels can all be commerce activity. For example, >>> could still be a silver lining for like Hopin, which combines marketers. Twitch-style live streams of keynotes, Zoom-style video THE SHIFT TO DIGITAL conferencing for groups, and According to analysts, Google one-to-one conversations. Even will likely see a 15% decline the banking industry is turning year-over-year in travel ad to digital. One example is South revenue in the first quarter, Africa’s Nedbank. Nedbank and a 20% drop in the second plans to accelerate the rollout of quarter due to the coronavirus its digital strategy across Africa epidemic. Despite that, there as customers avoid face-to- is still good news. Not every- face banking to reduce the risk one sees budget-cutting as the of coronavirus. Its long-term answer. Tim Jensen, Campaign target is for 75% of sales to be Manager at Clix Marketing, through digital channels, and offered his insights on Search for 70% of all its clients to be Engine Land: “As the tradeshow digitally active. MICROSOFT.COM

April 2020 / ENTREPRENEUR.COM / 33 START IT UP ECOSYSTEM

consumers in China are turning to online of this ecosystem.” Unlike soccer or rugby, grocery shopping. According to French the billion-dollar world of esports doesn’t retailer Carrefour, vegetable deliveries in- require social gathering. With more live creased by 600% year over year during the sporting events being suspended, there Lunar New Year period. JD.com, China’s may be an opportunity for esports to at- largest online retailer, has seen sales of tract a new audience. everyday household items quadruple over the same period last year. As more con- LESS COMPETITION = MORE MARKET sumers continue avoiding crowded public SHARE places, they’ll increasingly turn to online During an economic downturn, you’ll find shopping to get their essentials. that you will have less competition. In Of course, this could still bring strain to some cases, this means you’ll be able to get businesses who need to deal with poten- deals- like a potential reduction in pay-per- tially delayed deliveries or out-of-stock F1 driver click advertising. If the market continues items because of increased demand. If you Lando Norris to decline, many companies will struggle to sell products on Amazon, for example, it pay off their debt, which means they could is imperative not to run out of items to go bankrupt, get bought out, or get bailed avoid being punished by Amazon’s organic in esports to satisfy the void. Norris, out by the government. If you have cash on search and advertising algorithms. If a footballer Thibaut Courtois, and Formula E hand, this could be the best time to buy out product is out of stock for over 30 days, it driver Stoffel Vandoorne competed against other businesses- especially media compa- will be treated as if it has no sales history esports professionals and YouTube stars in nies. Because the more traffic you control, once it comes back in stock. This means a virtual Australian Grand Prix. the more power you will hold in the future. that the product’s ranking for its most Joe Zoghbi, an esports expert who’s the Look at Neil Patel, co-founder of Neil Patel important keywords will drop significantly founder of Divine Vendetta, says “Esports Digital. When he bought the KISSmetrics and show up much lower in search results. was born digitally, and while it was paving website for US$500,000, they had over a The key thing for business owners is to its way in 2020 to more on-ground events, million unique visitors a month. The mo- keep products in stock, and be transparent it is a step back for sure, nonetheless, ment he merged it into the NeilPatel.com with consumers if there are going to be any the consumption of online gaming and site, he increased his lead count by 19%, delays. esports events viewership will dramatically and recuperated his investment in less increase now, as we noticed in the current than a year. In other words, now is your ESPORTS TO FILL THE GAP PUBG Mobile PMCO event. Currently, opportunity to capture market share. With experts urging social distancing to esports events are realistically the only While the coronavirus presents busi- combat the virus, one of the most obvious source of live entertainment out there, ness risks in some areas, it also offers areas to be affected are sporting events. new crowds will jump to take part of the opportunities in others. As a marketer or This represents a big blow to market- action, and one way or another, brands will entrepreneur, the key is to acknowledge ers and advertisers in terms of lost ticket take notice even more and realize sooner the potential threats while exploring the sales and ad revenue. In the space of one rather than later than it’s a must to be part possibilities. day, every major sports league in the U.S. suspended operations for the next several weeks in response to the growing pandemic. Even esports are being affected, with the League of Legends Champions Korea (LCK) being canceled as more cases of coronavirus were confirmed in South Korea. The flip side may be that esports could also step in and help fill the gap. For example, the start of the 2020 F1 season has been pushed back in the wake of the coronavirus outbreak, with the Australian Grand Prix canceled late last week, and the Bahrain and Vietnam races postponed shortly afterward. But that didn’t stop F1 driver Lando Norris from taking part

Jad Hindy is currently the Regional Managing Director at MRM. Jad is a seasoned executive with over twenty years of experience in business setup, startups, marketing, communication and brand building across the Middle East and North Africa region. He has advised some of the biggest brands in the MENA region like Saudi Telecom, Jawwy, Ooredoo, du, Etisalat, P&G, Virgin Mobile, Red Bull, Unilever, Qatar National Bank, McDonald’s, Atlantis the Palm, Uber, EmiratesNBD, Aspire, Careem, Qatar Museum Authority, and others. Jad is also a serial entrepreneur with several successful

exits (123vouchers, Netizency, ColNewMedia, Engaged Brands), and he is today a charter member and board member at TiE Dubai. © LANDO NORRIS | KISSMETRICS.COM IMAGE

34 / ENTREPRENEUR.COM / April 2020 ‘TREPONOMICS SKILLSET

Experience matters HERE’S HOW (AND WHY) YOU SHOULD GET YOUR ENTERPRISE’S CX READY FOR A POST COVID-19 WORLD by AMOL KADAM

team member today mentioned to me that we In usual times, many brands increases in internet time and must approach a local grocery store chain to fix find it challenging to under- higher customer expectations its customer experience, and that made me start stand what drives this over- of digital platforms and online A all experience, satisfaction response times. To capitalize thinking about this being a widespread issue among and dissatisfaction, loyalty on this change in customer enterprises in the region. After all, if you were a business and disloyalty. But in these behavior, and to maximize in the region, looking forward to 2020 with amazing hopes unknown situations, where traffic conversion, brands and plans tucked in your marketing armory, I am sure unexpected, extreme, and sig- must improve their digital/ that, by now, all of those would have gone for a toss. If not, nificant circumstances have online experience. But, at the been inflicted on the world, same time, it’s imperative to then give it a few more weeks- this invisible enemy called your customer’s needs and ex- adapt for this new norm where the coronavirus pandemic is taking a heavy toll on global pectations can evolve in rapid touch-free interfaces and consumer brands, especially on physical stores. and surprising ways. Consider touch-free customer experi- the Lunar New Year period in ence will drive CX. For many Some of you have already Brands that have adopted digi- China, which saw a 25% rise brands in China, prioritiz- responded to this situation, tal and human-less experiences in smartphone screen-time ing digital investment and and quickly resorted to digital are the brands that are leading versus the same timeframe the strengthening e-commerce channels to offset losses of- excellent customer experience last year. In Italy, the country offerings has been the primary fline. It’s also worth noting during this period. So, while most hit by the coronavirus solution to compensate for that in the place where the the priority is health and safe- pandemic after China so far, lost business. Amid this crisis, breakout started, China, ty, business leaders have also brands are already seeing L’Oréal China moved all offline brands are already leading in been thrown another challenge increases in online traffic to advertising budgets to only on- digital innovations on cus- in that they must consider how their sites and social media. line, and saw its online make- tomer experience, while every- this growing pandemic will im- Brands must thus prepare for up sales rise in February. >>> where else, brands are catching pact their customers and their up. As a business, if you were experience with your brand. earlier finding excuses like “My And this starts with an under- AS MOST OF US STRUGGLE, BRANDS customers aren’t demanding standing of customer experi- DELIVERING AN OPTIMIZED, PERSONALIZED, (or ready for) online orders and ence (CX), which is all about fulfilment” to keep away from knowing and responding to AND TIMELY CX WILL GAIN STRENGTH. investing in a digital presence, customer’s needs and expecta- IN THE COMING WEEKS AND MONTHS, YOU you can rest assured that your tions to improve (and encour- clientele will most certainly be age) their experience, satisfac- MUST WORK TO PRIORITIZE YOUR ONLINE wanting that now. tion, loyalty, and advocacy. TOUCHPOINTS,

April 2020 / ENTREPRENEUR.COM / 35 ‘TREPONOMICS SKILLSET

Our opportunity to succeed (or fail) for customers is most significant when emotions and needs are running high versus in regular times when things are going as expected. As such, today’s unknown, without a doubt, may be the biggest challenge thrown at marketers and CX professionals, but this might also be the most significant opportunity -indeed, a catalyst- to finding ways to ignite and maintain a customer-centric approach in the face of the unexpected. Here are a few ideas on how you can do just that:

1/ DOCUMENT THE CHANGES TO CUSTOMER’S NEEDS (AND THEIR JOURNEY) In pre-corona state personas, needs and journey used to change slowly over time. But post-corona, we are seeing customer awareness, pain points, expectations, and reactions, along with their needs, are changing rapidly. Add to that the ever-evolving government directives and restrictions, and that makes it clear that CX teams need CONSIDER A CHANNEL IN WHICH A HYBRID One might say that all brands to carry out efforts to build are in this together, so that these scenarios and use the CHATBOT CAN ADD A HUMAN TOUCH. the impact will have very lit- data they already have about VIDEO INTERACTIONS, REMOTE ADVISORS, tle influence on your brand’s their customers to understand CX, satisfaction, loyalty, the impact on their needs, AND HUMAN-ASSISTED ONLINE SHOPPING, and advocacy, relative to the perceptions, and priorities. ARE JUST A FEW WAYS ON HOW WE CAN competition. Yes, today’s One can start with drafting STILL KEEP HUMAN EXPERIENCE RELEVANT. pandemic was unforeseen just the current shift, and then two months ago, and with the forecasting the future shift news developing daily, your away from existing journeys At this juncture, depending prepare for how their custom- brand, just like all brands and on how your customers are on your brand’s category, you ers’ questions and needs will your customers, are caught in affected today in their homes might think that your primary change rapidly in these coming this rapidly evolving situation. and workplaces. Also note focus should be your supply months. The first step is to This is the real unknown. This down potential changes chain, and not the changes in consider likely and possible event, just like any other event in their journey, and the customer preferences, atti- changes to customer needs that could change consumer touchpoints that may be tudes, or behaviors. Of course, and journeys- and yes, it’s as expectations, activities, and most important to them in it’s sensible to plan for any in- basic as that. But most brands motivations, will impact the these times. The key thing to terruptions to your supply and even today do not know or customer perception of differ- remember is that it’s about operations, but true customer- have the customer journey ent brands/industries in dif- being proactive, rather than centric organizations will also documented. ferent ways. being caught unawares.

36 / ENTREPRENEUR.COM / April 2020 EXPERIENCE MATTERS | HOW (AND WHY) YOU SHOULD GET YOUR ENTERPRISE’S CX READY FOR A POST COVID-19 WORLD

2/ DON’T WAIT TO BE ASKED; is going to be edgy, reluctant, it stands, your week- or two- A recent report found that up GIVE INFORMATION and somewhat lost. But the week-old information is al- to 20% of remote workers are If you wait for customers to be need is to look at this as an op- ready old and irrelevant, given lonely due to a lack of human concerned and start wonder- portunity, and as an addition the changes that are happening interaction. It just illustrates ing, or worse, start demanding to your online customer base. day-to-day and will continue the need to infuse online or re- information about your brand So, start treating them with to happen in the coming weeks mote interactions with human or services, it’s already too the utmost care and personal- and months. touchpoints in a non-evasive late. From emails you have got ized attention. By now, if you way. Consider a channel in in your mailbox by now, you have not drafted and studied 5/ HUMAN EXPERIENCE TO which a hybrid chatbot, where can see most proactive brands their customer journey, it’s HUMAN-LESS a chatbot with a mix of both have already started communi- time to do so. Understand UberEats, Amazon, Zomato, automated and human inter- cating. What should you com- their pains, expectations, and Deliveroo, Talabat, and other vention, can add that human municate, you may ask. Think perceptions about your brand, digital services are helping to touch. Video interactions, re- about questions they may have and you will be able to serve ensure a safe virus-free en- mote advisors, human-assisted for your employees, or monitor them and enhance their expe- vironment with their online online shopping, online con- your support calls and gather rience. experience that removes the cierges, consultations through queries they are requesting. need for human interaction. video calls, etc. are just a few It can be as simple as how to 4/ KEEP LISTENING We need to learn from this, ways on how we can still keep keep yourselves safe in this The need to understand how but you don’t need to develop human experience relevant. pandemic, or what precautions the customer feels, what he this capability independently. you, as a brand, are taking expects, and most importantly, What you need to build is the SO: WHAT’S YOUR ONLINE CX for hygiene. Consider the cat- how swiftly all these attributes experience that is less depend- STRATEGY? egory/industry you are in, and change is the key to crafting an ent on touch or human inter- Since 2018, I have used a slide again, refer to the user journey excellent customer experience. action. Remember that it’s from a Gartner report in many mapping you have done to get In these times, those changes not just for your customers- a of my talks, which goes: “80% these communication points. are going to be more frequent large percentage of the work- of brands say their companies and drastic. Their attitudes, force will be working from will compete on the basis of 3/ REMEMBER THAT expectations, and percep- home in the coming months. CX in two years.” When this SEGMENT YOU CONSIDERED tions are bound to change very Loneliness and productivity pandemic subsides, brands TO BE “NOT YOUR TARGET” rapidly, so there is a need to are other factors you need to that will come through for For most brands and CXers, monitor these in real time. As consider in your equation. customers now will be the there were always customer ones that will be remembered, segments (e.g. non-tech savvy, and they will create long- not digital users, Generation X, lasting loyalty- and you can baby boomers, etc.) that you rest assured they’ll also be always considered as a sec- the first to come to mind if ondary segment. Guess what? such a crisis reappears. At Now, all these customer seg- the end of the day, one thing ments do not have any other is guaranteed. As most of us option than going digital. In struggle, brands delivering an today’s situation, where health optimized, personalized, and and survival are dependent on timely CX will gain strength. In being online or human-less the coming weeks and months, channels, everyone has to fol- you must work to prioritize low the online queue. This seg- your online touchpoints, so ment/persona, while transi- that your brand does not tioning from the conventional follow the same direction as offline/human experience to many publicly traded stocks this new human-less channel, these days.

Amol Kadam is the co-founder of RBBi, the region’s first Amol’s areas of expertise include user experience, usability, online branding specialized user experience (UX), user interface (UI) and digital and strategy, information architecture, interaction design, online and offline performance marketing agency, operating in Dubai since interactive media, digital media. Among other strategic tasks within the agency, 2011. Coming from a strong creative & usability background his role involves creating usability and UX road-map strategies for interaction spanning more than 16 years, Amol has conceptualized, media. Amol is the holder of a master’s qualification in HCI. He is also a certified designed and managed the production of several digital projects for a usability professional and a registered member of Usability Professionals global range of clients from banking, hospitality, travel, real-estate and more. Association Worldwide. rbbideas.com

April 2020 / ENTREPRENEUR.COM / 37 START IT UP ECOSYSTEM

IF THERE’S ANY REGION IN THE WORLD THAT CAN BOUNCE BACK QUICKLY, AND TAKE ADVANTAGE OF NEW WAYS OF DOING BUSINESS THAT WILL SURELY PREVAIL, IT IS THE MIDDLE EAST.

umes. This will have a month or two of lag before it starts to show, but when it does, it will be when the economic impact will really begin to bite, for all companies in the region. And the impact of this for the low income migrant workers and their families, who rely on the flow of remittances, will be enormous. The financial markets have reacted with sheer panic in early March. Such crashes are underpinned by human psy- chology rather than fundamen- FIRST PERSON tals, as shown time and time again from the crashes seen in the US in 1929, the dot-com The impact the coronavirus pandemic is having on our bubble of 2000, the financial startup, our customers, and our MENA region by IAN DILLON crisis of 2007, the crypto bubble of 2017, and right back to the Dutch tulip bubble of 1637. hese are unprece- Gulf to receive their salaries, individuals in the Gulf, will Have a look at graphs of asset dented times global- and allow them to make remit- start to show through in the prices in each- the pattern is ly. Seldom in human tances to their home country coming months. As businesses remarkably similar. history has there directly from a smartphone see a slowdown, employees NOW Money is a venture been an event that app. We have seen continued will be put on unpaid leave or capital funded business. These affects every person growth through the corona- laid off, which leads to reduced venture capital investors, Twherever they are in virus pandemic and oil price salaries, spending, and, for us whilst having a much longer- the world to quite the extent crash- in the year to date, the at least, lower remittance vol- term view than stockbrokers that the coronavirus pandemic trend towards using smart- already has, and will continue phone-based services, the is- to do so in the coming months sues at traditional remittance and years. As a founder of a providers like UAE Exchange, fintech startup, NOW Money, and our continued product I’m having a unique perspec- development and improve- tive on the way in which indi- ment have led us to see strong viduals are reacting, and how growth in remittances: 31% the world of business will be month-on-month growth in reshaped for the coming years. January, 46% in February, and Firstly, our customers. We 20% in March to date. provide accounts for low in- The bulk of the impact of come migrant workers in the the pandemic for us, and all

Ian Dillon is the co-founder of NOW Money. Ian was educated at Cambridge and Exeter Universities. Whilst at Cambridge, he started a successful e-commerce business, which has recently been sold. Ian’s former banking career was spent at HSBC, working in retail and corporate banking and FX, before taking a management role within investment banking capital markets. In 2015, he co-founded NOW Money, an accounts and remittance service for the unbanked population of the Middle East. He was honored with the “UAE Fintech Founder” award at the Fintech Abu Dhabi 2019 Awards. nowmoney.me

38 / ENTREPRENEUR.COM / April 2020 FIRST PERSON | THE IMPACT THE CORONAVIRUS PANDEMIC IS HAVING ON OUR STARTUP, OUR CUSTOMERS, AND OUR MENA REGION

and traders, are not immune Four ways to keep your team committed from panic and worries about the future uncertainty that the (when your enterprise is in a crisis) by MIKE HOFF coronavirus crisis brings. Whilst all of our investors have been supportive and wanting to help here is no denying leading a business is highly stressful at the moment, wherever possible, they have exasperated by the uncertainly of when restrictions made because of the clearly been rattled by the mar- coronavirus pandemic will be lifted. This uncertainly is placing a great deal of ket turmoil. stress on a company’s leadership team trying to keep the business viable for At the same time, our staff have the months ahead. At the same time, this situation is also placing a great deal of been amazing at NOW Money. Tstress on the company’s employees, which can take their focus away from the roles they In our hiring process, the val- are needed to perform, which, in turn, are needed to keep the business on track. ues we look for above all else However, to help ease cash flow pressures, business leaders may be forced to take the are grit, ability to do anything, drastic step of reducing salaries for employees, or in the worst case scenario, they may and independence. As a nimble, even be asked to take unpaid leave. But if you are implementing such measures, how can fast-moving, and lean startup, you still keep your team focused and engaged, ready to perform when they are needed? we don’t have the budgets or Here are four tips to help keep your team committed: the ability to have large, wide- reaching HR teams, and ben- 1. Communication is key efits packages- we have to rely The team needs to know what on hiring responsible, mature you are doing, and what you people that we can pay well and need them to do to help. By let them support themselves communicating why you took far more than a larger corpo- the decision you have taken, you rate would. While this narrows are likely giving them a feeling down the hiring options we have of relief that the company is in the good times, in adverse doing all it can to keep their jobs scenarios like this, the policy alive. Keep the communication really comes into its own- our flow going daily, hold daily virtual staff have calmly and diligently huddle meetings with those still adapted to working from home, working, focusing the message on positive culture is poor and the team is not involved and turning their hands to dif- steps forward. For those that are on unpaid in how it operates or its performance, ferent tasks. Our people are the leave, create a WhatsApp group for the then keeping the team committed to you main reason why we’ll come out team, where they can ask questions and is going to be difficult in any situation, and of the other side stronger, how- concerns. Communicate update messages only amplified in a crisis. If you have a poor ever that may look! on the chat, and answer all questions culture, then now is the time to urgently Finally, the region as a whole- as honestly as you can. Keeping the change this. Create cultural team leaders it’s fair to say that the impact communication flow moving means that within the company, and ask them what the coronavirus pandemic will you can quickly enable the team again you need to do to keep the team engaged have is going to be massive and when restrictions subside. with you and the business. Ask for advice far-reaching. However, if there’s and ideas, and quickly implement their any region in the world that can 2. Ask for suggestions suggestions. Now is not the time to bounce back quickly, and take It’s fair to assume that your team is procrastinate. advantage of new ways of doing closer to the day-to-day operations of business that will surely prevail, the company than you are. As such, they 4. Celebrate success it is the Middle East. We are may be able to see cost savings that the Even in crisis situations, there are times to part of a young, tech-savvy, and company can quickly implement, which celebrate. The size of the success may be ambitious population, and we will make the company more agile going small, but any step forward needs to be a have strong leadership that has forward. Ask them to contribute ideas and time to celebrate. Call out those members acted decisively to support the suggestions in this regard. of the team that have done something residents of their countries. At amazing, the team members that have NOW Money, we are excited by 3. Focus on your company culture come up with an idea that makes a the progress we will make whilst Culture is important. If you have a culture difference. Now is not the time to criticize others slow right down, and we where employees enjoy coming to work, or manage poor performance- these believe the Middle East more and are fully involved/consulted in the judgement calls can wait until you are widely will similarly capital- company’s growth plan, then they will be able to get back to work and reflect, but ize on the opportunities as the more committed to seeing the company all successes need to be celebrated as a world recovers. perform and survive in any situation. If your whole team.

April 2020 / ENTREPRENEUR.COM / 39 ‘TREPONOMICS SKILLSET

"OUR EARLY GROWTH WAS FUELED PRIMARILY BY WORD OF MOUTH. WE BUILT A BUSINESS THAT PEOPLE WERE EXCITED TO USE AND TO TELL THEIR FRIENDS ABOUT. THIS LED TO HUGE GROWTH BEYOND THE TYPICAL DIGITAL MARKETING ACQUISITION CHANNELS, BUT IT WAS THE RESULT OF LOTS OF HARD WORK AND GOOD MANAGEMENT."

and launched the “Wash and Fold” concept, which has been very successful in solving a problem customers have that was previously unaddressed by retail laundries. We were also able to leverage the safe environment we are in to launch “at door” pick-ups/drop-offs, which further widened the convenience gap between an at-home and in-store service. Multiple innovations like these Left to right: propelled us to the forefront of the Rami Shaar and Jad Halaoui, market, and I firmly believe it’s because co-founders, Washmen we came in new to the industry, with no status quo bias. In the beginning, there were a few challenges for us to overcome in the laundry business. Our biggest challenge Growth trajectory when we first started was the fact that we thought being asset-light was the best way to operate. After all, the same Reflections while #stayinghome: business model, which was being lauded lessons from the development (and expansion) as the future due to the likes of Uber, Airbnb, etc., was being taken and applied of my startup, Washmen by RAMI SHAAR across all industries. However, we found that in the laundry industry, whilst it meant lower capital requirements, it led he entire world is currently in the throes of the coronavirus to lower quality control, and an inability pandemic, and while we heed the global call to #stayhome, to innovate, despite partnering with the this time spent away from external distractions has allowed best laundries in the country. As such, our transition into a vertically integrated many among us to self-reflect- including me. In my case, I’ve laundry was the single biggest driver of T been thinking about my startup, Washmen, which I launched our ability to provide the ultimate cus- with my co-founder Jad Halaoui in the UAE in 2015. tomer experience. Another challenge was the market Until Washmen, there had been no tech theme in other geographies too- one of itself. It’s crowded with low quality intervention in the UAE laundry indus- the best laundries we’ve seen globally is providers who provide “a service” at an try- digitizing the customer experience in China, and it was started by someone ultra-low price point, cutting corners as well as the supply chain gave us a who had been an architect for 35 years each step of the way. Educating custom- clear edge over the rest of the industry. before turning his attention to laundry. ers that “if it’s too good to be true, it Also, the fact that we were new to the We started Washmen with a clear tech probably is” applied to laundry was, and industry allowed us to think of problems advantage over our competitors, and we at times still remains, a challenge. While from a completely new lens, unbiased then capitalized on this- our ability to we operate as an app-based concept, by years of doing things the way they’d see problems from a new lens allowed I don’t believe it is a guaranteed way always been done. We credit our success us to innovate. We identified gaps in the to generate more clientele than a solid to this oversight. We noticed a similar classic value proposition of a laundry storefront would. I don’t believe just IMAGES COURTESY WASHMEN COURTESY IMAGES

40 / ENTREPRENEUR.COM / April 2020 GROWTH TRAJECTORY | REFLECTIONS WHILE #STAYINGHOME

to cement our domination in the UAE in 2020 courtesy of a number of new and exciting things we’re developing, as well as ramping up our marketing efforts. After that, the UAE will become our innovation hub, and we have exciting plans for expansion. Once we do expand beyond the UAE’s borders, I feel there will be some challenges to expect with such growth. Understanding the nuances of product- market fit in other geographies will undoubtedly be a challenge. Our business model is not cookie-cutter, as every market has unique characteristics i.e. having the business based on an app, well. This allowed us to iteratively opti- disposable income, population density, instead of a brick-and-mortar building, mize our offering and achieve a product/ costs, etc., but luckily, the intrinsic that has changed our business methods or market fit, whilst solving our employees’ have been key to our success here, as productivity in anyway. It’s actually a lot and partners’ pain points simultane- well as our developed expertise in clean- more than that. ously. This, in my mind, has led us to ing, are universal. While I have plans in Apps, physical stores, drive-through understand the full value chain of the place for international expansion, I can’t restaurants- my ethos is that it doesn’t laundry industry better than most, in- reveal much at this stage- however, the matter what establishment in which cluding those who have been doing this next two years are shaping up to be very your business is run from. At the end far longer than us. exciting for us. Stay tuned! of the day, the customer is looking for While growth is a painful process both a value proposition that they believe is in business and in life, it must be done worth parting with their hard-earned naturally. I don’t think there is such "WE STARTED WASHMEN WITH cash. They will only find this to be true a thing as a hack to business growth. A CLEAR TECH ADVANTAGE when they are offered a service that is Our early growth was fueled primarily OVER OUR COMPETITORS, AND one, or many, of convenience, high qual- by word of mouth. We built a business WE THEN CAPITALIZED ON THIS- ity, reliability, value, etc. I truly believe that people were excited to use and to OUR ABILITY TO SEE PROBLEMS that having an app in itself means tell their friends about. This led to huge FROM A NEW LENS ALLOWED US nothing. Does this app allow you to do growth beyond the typical digital mar- TO INNOVATE. WE IDENTIFIED something in a shorter time than you keting acquisition channels, but it was GAPS IN THE CLASSIC VALUE would have otherwise? Does it make you the result of lots of hard work and good PROPOSITION OF A LAUNDRY feel comfortable that this task is being management, so I wouldn’t necessarily AND LAUNCHED THE “WASH AND handled in the best way? Does it allow call it a hack. As we prosper, our focus is FOLD” CONCEPT." you easy access to talk to someone if you ever have any worries or concerns? Is the service behind the app actually being completed to a high-quality level? Do you feel like the company on the other side of the app listens to you when you have something to say? These are the things that make a difference in the success of not just app-based businesses, but all B2C enterprises. When it comes to growth, in terms of our business model, whilst being asset light posed its own challenges further down the line, it did allow us to incubate and grow an idea into a fully-fledged business with relatively little capital. As for our management style, ours is one that is close to the ground. We’re hands- on. We stay close to our customers, close to our laundry partners (when we had them), and close to our employees as

April 2020 / ENTREPRENEUR.COM / 41 TECH SHINY

GADGETS AND DOODADS THAT YOU MIGHT’VE MISSED OUT ON, SOURCED BY A TECH AFICIONADO. YES, IT’S OKAY TO WANT THEM ALL… AND NO, IT’S NOT OUR FAULT.

THINK ABOUT IT LENOVO THINKPAD X13 AND X13 YOGA

Designed to give you superior ePrivacy display with PrivacyAlert functionality in a smaller, more that helps protect your screen portable package, the latest X from over-the-shoulder glances. series of laptops by Lenovo in- X13 Yoga is convertible and comes clude many smart PC innovations packed with a Dolby Audio Speak- like Modern Standby always-on er System and an optional vivid technology, and Wi-Fi and unified UHD OLED display with Dolby communications functions that Vision. ThinkPad X13 Yoga and allow you to take calls while on X13 are both powered by 10th Gen the system. Both X13 and X13 Intel Core vPro processors, and Yoga can be configured with clever you could also outfit ThinkPad privacy features, which includes X13 with AMD Ryzen PRO 4000 the full HD 500 nit PrivacyGuard Mobile processors.

Lenovo X13 Yoga is convertible and comes packed with a Dolby Audio Speaker System and an optional vivid UHD OLED display with Dolby Vision. IMAGES COURTESY ACER | LENOVO | HONOR | LENOVO ACER COURTESY IMAGES

42 / ENTREPRENEUR.COM / April 2020 #TAMTALKSTECH | GADGETS AND DOODADS THAT YOU MIGHT’VE MISSED OUT ON

A NEW WAY TO LEARN ACER FOR EDUCATION

Technology has long been helpful to prepare the school integrated in education and bag as one normally would workforce solutions, but for each school day. the world is more reliant on devices now than ever 2. Invest in reliable technol- before. Amid the COVID-19 ogy and high internet speed, pandemic, schools across and make sure all devices the globe are closing physi- are charged and ready to cal doors in favor of virtual go! It is also imperative to classrooms, and Acer is here ensure applications are up to help with that. Through to date at all times. Acer for Education, the company provides end-to- 3. In the evenings, review WATCH THIS end educational support the recordings of online HONOR MAGICWATCH 2 to schools and institutions classes as homework with through superior products the kids. This will not only MagicWatch 2 by Honor nected. This wearable device and adaptive software solu- help ensure the course runs as long as you can with has brilliant features includ- tions. As kids around the re- material has been fully a 14-day battery life and a ing dual satellite positioning, gion embrace e-learning, the absorbed, but also prepare Kirin A1 Chipset. Equipped a heart rate monitor, built-in team at Acer have shared them for next day’s classes. with industry-leading health speaker and microphone, some helpful tips to ensure and wellness monitoring and access to smartphone efficient learning during this 4. Maintain a regular rou- technologies, MagicWatch functions as well. Plus, the period: tine, and ensure everyone 2 gives you precise health stainless steel design and gets enough sleep, so they insights when you need it, stylish accessories keep you 1. Clear out a space that’s are fresh in the morning. while keeping you fully con- looking good. demarcated specifically for studying. Make sure your 5. Be patient with your kids, computers and laptops and instill confidence. Be are cleaned and sanitized encouraging and rewarding, OH SNAP! regularly, and all supplies so they embrace e-learning HONOR 9X PRO are within reach. It is also to its greatest potential. Honor 9X Pro is designed to Display and a full camera help you focus and make the that’s hidden away in the most of your smartphone. body of the phone. When It has a 6.59-inch FullView you need it, the camera pops up, snaps a selfie in one second flat, and automati- cally retracts. How’s that for a wow factor? It sports a 48MP triple rear camera with AI Super Night Mode to get the perfect photo in low light. Powered by a 7nm Kirin 810 AI Chipset, Honor 9X has a smooth back panel designed to create a glim- mering X-effect to dazzle onlookers when they see the device in use.

#TAMTALKSTECH Tamara Clarke, a former software development professional, is the tech and lifestyle enthusiast behind The Global Gazette, one of the most active blogs in the Middle East. The Global Gazette has been welcomed and lauded by some of the most influential tech brands in the region. Clarke’s goal is to inform about technology and how it supports our lifestyles. See her work both in print regional publications and online on her blog where she discusses everything from how a new gadget improves day-to-day life to how to coordinate your smartphone accessories. Visit theglobalgazette.com and talk to her on Twitter @TamaraClarke.

April 2020 / ENTREPRENEUR.COM / 43 CULTURE TRAPPINGS

‘TREP TRIMMINGS THE EXECUTIVE SELECTION

rom better goods to better wardrobe bests, every issue we choose a few items that make the Fapproved executive selection list. In this issue, we present our picks from the Digel Spring/Summer 2020 range, a timepiece for the adventurer in you, and a luxury jewelry collection worth checking out.

MIX AND MATCH DIGEL SPRING/SUMMER 2020 For this season’s collection by Digel, the focal point for the brand is in interchangeable individual garments for a comprehensive look. Jackets, waistcoats, and trousers are offered separately, and they can be matched for business and leisure looks. Their common factor? The checked, striped, and plain materials are all based on the same yarns, and perfectly attuned to each other. For one, the checked jacket suits well with the striped waistcoats and plain-colored trousers. Digel plays with two different palettes that sets the tone: navy accents in smoky grey and cool blue, as well as light, feathery grey and bright beige ranging towards chocolate brown. Linen is also evident in the collection, with comfort being an underlying characteristic of the brand. And once again, with Digel’s ethos being on “real life, than artificial constrictions,” the collection is portrayed not by professional models, but by renowned personalities, with this campaign’s focus being on New York architect Drew Seskunas. digel.de/en Digel Spring/Summer 2020

BrioniDigel Spring/SummerSS19 2020 Brioni SS19 KitonDigel Fall Spring/Summer 2019/2020 2020 Kiton Fall 2019/2020 IMAGE CREDIT DIGEL | TUDOR | SANTONI | TATEOSSIAN CREDIT DIGEL | TUDOR SANTONI IMAGE

44 / ENTREPRENEUR.COM / April 2020 'TREP TRIMMINGS | THE EXECUTIVE SELECTION

CREATIVE CRAFTSMANSHIP SANTONI Since its inception in 1975, Santoni’s vision has embodied Italian craftsmanship and creativity. With Santoni’s SS20 collection, there’s various styles at play to suit every man’s style. From a gradient effect of light notes to desert-inspired tones, there’s much to see in the range with a palette that evokes neutral, off-white, sand, and tan as protagonists of the collection, with touches of blue and orange. For the boardroom, we’re eyeing the Bohemian loafer made of calfskin, which comes with tassels and is hand-colored in tones of dark brown. For your off hours, we’re liking the vibe of the Carter which features a double buckle, and polished with gradient tones of blue. Santonishoes.com

Santoni Bohemian loafer

Tudor Black Bay P01

ADVENTURE IS OUT THERE TUDOR Santoni Carter double buckle First designed as a prototype for the US Navy in the 1960s, Tudor’s new Black Bay P01 is a modern interpretation of the multi-purpose watch. The original timepiece was specifically required to a have 12-hour graduated rotatable bezel, which is helpful when using a watch as navigation tool, while also allowing for elapsed time to be observed during a dive. The new version stays true to this element, but with one caveat: it’s not made for just one specific activity, and instead embodies a multi-use design. Evident with the choice of the hybrid leather and rubber strap, it’s suitable for the entrepreneur with a hunger for adventure as it’s suited Digel Spring/Summer 2020 for all physical activities and all climates. Running on the manufacture caliber MT5612, the watch is encased in a 42mm steel case with satin finish and is waterproof up to 200m. And if you have an eye for detail, you’ll EDITOR’S PICK appreciate the timepiece’s angular snowflake hands- Tudor’s signature design trait, which was introduced in TATEOSSIAN 1969. Tudorwatch.com Hate it or love it, there’s always a sense of playfulness entwined with the Tateossian brand. Founded in 1990 by Tudor Black Bay P01 former city financier turned jewelry designer Robert Tateossian, the brand became renowned for its handcrafted and contemporary cufflinks. Its newest men’s collection explores a wide range of accessories: cufflinks, money clips, bracelets, and more for discerning entrepreneurs. Tateossian.com

April 2020 / ENTREPRENEUR.COM / 45 CULTURE LIFE

leaders like Kim, who march to their own drumbeat, and are unafraid of the Real talk judgment from others.” Jeetendr Sehdev, New York Times bestselling author of Now, while Kim Kardashian may well be a polarizing figure in the world of The Kim Kardashian Principle, sets the record straight on today, according to Sehdev, her business savvy, her shameless approach to the power of influencers by TAMARA CLARKE overexposure, and her massive appeal make her a force to be reckoned with regardless of what one may think of ove them or loathe ‘em, social ing, known not to hold back and instead her. Indeed, Kardashian has ended up media influencers are here to tell the unadulterated truth about what inspiring a legion of people who’ve stay, and not only has Jeetendr drives influence. transformed themselves into recogniz- Sehdev championed this new That can be one of the reasons behind able brands– those who wield enough segment of celebrities, he’s also the success of The Kim Kardashian influence to pay the bills. This is true written The Kim Kardashian Principle, which was released in 2017 for the MENA region as well, with Se- LPrinciple: Why Shameless Sells and ended up topping bestseller lists hdev pointing to the UAE as an example and How to Do it Right, which has been around the globe. While the book is a of a market that has social media influ- billed as a blueprint for selling yourself qualified, well-founded piece of work, encers playing a key role in it. “Social the right way. Sehdev got onboard this the title is an instant attention-grab- media influencers are huge in the UAE,” trend rather early- in 2014, he detailed ber– which was a very clever and de- he notes. “Look at the likes of Huda the power of YouTube stars versus liberate ploy used by Sehdev to prove a Kattan, Taim Alfalasi, Abdulaziz Baz. traditional celebrities in an interview point about the influence of the second And more than half the population out with Variety magazine, which went eldest Kardashian sister. “I remember here uses social media.” viral and became one of the most cited coming up with the name The Kim Kar- But look past the legions of fans who studies on celebrity branding at that dashian Principle quite instinctively,” bestow their appreciation on these time. Since then, Sehdev has become Sehdev recalls. “I was in New York with influencers with likes, loves, and wows, an influencer in his own right, becom- my agent at a coffee shop. He put me on there are also many who don’t believe ing as recognizable as the celebrities the spot, and asked me what I wanted the hype- what does Sehdev have to he talks about. He’s become widely to name my book, and it was one of say about them? “Look, where there’s regarded as one of the most influential the first titles that came to mind. I’ve success, there is going to be criticism,” global thinkers in the world of brand- always been inspired by strong female he replies. “That’s just a fact of life. IMAGE COURTESY JEETENDR SEHDEV JEETENDR COURTESY IMAGE

46 / ENTREPRENEUR.COM / April 2020 REAL TALK | THE POWER OF INFLUENCERS

But it is sad how we live in a world that tries to bring The (right) way to work from home people down instead of pulling them up. I find it exhausting. SEVEN DESIGN TIPS TO CREATE THE PERFECT HOME OFFICE It reminds me of when people BY MAY ROSTOM laughed at the fact that I re- ferred to celebrities as brands. orking from home can be a hoot parallel to the floor. And adjust your chair Seven years later, those exact if you have everything set up so your feet rest firmly on the floor. people are writing their own Wperfectly. Remote work gives stories about celebrities as you the advantage of better work-life 4. STORE CREATIVELY Small living brands.” In terms of advice for balance, and takes away endless hours spaces require extreme organization. those of us getting this kind of traffic stress. Given the current situ- And since you’ll be working from home, of criticism on social media, ation with the coronavirus pandemic, no one likes the look of piled up docu- Sehdev suggests holding on it looks like we’re going to be stuck at ments on a tiny desk. Invest in a fancy to the ethos of letting your home for quite some time, whether we all bookshelf or storage cabinet to store all haters be your motivators, and like it or not. Here are seven inexpensive your important documents. Decorate it thus press on and live in their ways to create the perfect workspace with small ornaments and figurines to truth, no matter what. After at home. make it look like more than just an ugly all, Sehdev believes that a filing cabinet. world where influencers have 1. SEARCH FOR LIGHT When looking a starring role is likely to be for a spot to set up your home office, 5. GO WIRELESS As much as you can. the new normal. “I don’t see choose the place with the most natural Eliminating the hideous look of wires and teens abandoning their phones light coming in. While your instinct might cables can be very relaxing to the eye. and heading back to TV or take you to the nearest corner or wall, For the devices that need cables, hide a the cinema anytime soon,” he facing a window or a source of light power strip behind your desk and plug says. “Besides, we’re already might actually inspire you to work better everything into that seeing traditional celebrities while enjoying the scenery outside. For adopt more of the social media those long working night shifts, invest 6. MAKE IT PERSONAL It may sound influencer behavior too. So, I in a warm, high-beam lamp to keep your flimsy, but a picture of your family or pet suppose the question should space and light and bright. will have you wanting to sit longer at be: do traditional stars have your desk. Surround yourself with things staying power?” 2. GO GREEN Adding one or two desk that bring positive energy to you, even if Now, Sehdev might not have plants is a great way to decorate and it’s just a nice frame with a meaningful the answer to that particular creating an uplifting environment. Just picture in it or a travel souvenir. question, but he does know make sure you buy plants that aren’t how celebrities –and anyone high maintenance and don’t require daily 7. PREP PREP PREP Before you start your for that matter– can posi- watering, workday, make sure you have everything tion themselves to win in an you need on your desk. Pens, paper, ever-crowded digital world: 3. FOLLOW THE RULES Ergonomic rules snacks, all of it. By eliminating the need authenticity. “Today, audi- are there for a reason. Keeping your to get off your chair to wander around ences judge you on your per- computer screen at eye level and elbows the house looking for a pen, you will have sonal moral code, and whether rested while sitting on an ergonomic uninterrupted quality time to focus on you put your unique self, or chair are all ways to ensure a smoother, getting things done. Get a nicely divided the opinions of others, first,” more comfortable work process. Position desk caddy to store all your office sup- Sehdev says. “They respond your keyboard so your forearms are plies, and keep it handy on your desk. to people with a point of view, people who stand for something original, whether they agree or disagree.” According to Sehdev, being your true, unadulterated self is what helps you win in the long run. Just look at Kardashian- she has, after all, indisputably shaped celebrity culture by overexpos- ing herself, flaws and all, to the masses, and as such, she’s a shining example of how keeping it real can pay off. CULTURE LIFE

him run for the country’s senate twice, then become the Secretary of Transporta- tion and Tourism, before putting his hat in the ring for the esteemed role. “I want to have a position, because I want to help further the Philippines,” Yabut says. “They [government roles] are the most visible, and they make the most impact to a Filipi- no. Transportation is so important, [while] tourism is both marketing and economics. You create a better image for Philippines, you drive investments. You drive investments, you drive jobs, the quality of life increases- and the invisible hand works better.” Yabut’s dream to join the political sphere and create systemic change in the Philip- pines is a result of how his own life has played out so far. Born in Tondo, one of Jonathan Yabut at Emirates Manila’s largest slums, Yabut remembers Literature Festival 2020 how he finished his studies purely on scholarships. “I know how both sides of life work, and I know the science behind people who have it, but need that ex- THE ONLY WAY IS UP tra nudge, because the opportunity just doesn’t happen to be there,” Yabut says. “I’ve been that guy. I know I had the grit. Motivational speaker and best-selling author I had parents who pushed me so hard. But Jonathan Yabut on rising to greatness if it weren’t for the scholarships, I think things would be different. The same thing (with purpose) by PAMELLA DE LEON happens for anyone out there. You might be the best employee, but if you can’t ride ost of us think of life as: Single, Taken, or Building my Empire, the train on time, it destroys your motiva- ‘What do I do for the next and he has given talks and workshops on tion. If you provide and enable them to get 10 years?’ I think, that ap- leadership, productivity, and managing things done and let them do the rest, it’s proach should be, when the millennial workforce in 15 countries. how a modern progressive society [can] I’ve left, whathave I left? What propelled Yabut on this path though work.” In the end, your wealth is was him joining and winning Season 1 of determined by the people The Apprentice Asia, a reality TV show Myou’ve touched.” This is how motivational that showcased young businesspeople speaker and best-selling author Jonathan competing for a six-figure salary role, beat- Yabut describes success to me, after he ing more than 30,000 applicants in Asia. finished off a series of masterclasses at For winning the show, he served as Chief the 12th edition of the Emirates Airline of Staff of AirAsia for one year, directly Festival of Literature in Dubai in Febru- reporting under its Group CEO Tony Fer- ary. Assertive and articulate, Yabut ran nandes. Subsequently, Yabut started and sessions that had him talking on boosting launched his own marketing consultancy one’s confidence and productivity, as well firm, The JY Consultancy & Ventures, as about being fueled by hardships and which offers marketing and talent opti- how true grit is needed to succeed in to- mization services to startups and Fortune day’s world. 500 companies in Asia. Yabut certainly knows a thing or two His entrepreneurial pursuits notwith- about hard work and perseverance- he’s a standing, Yabut says that his ultimate goal, multi-awarded marketer and HR profes- regardless of how his career trajectory sional with over 12 years of experience develops, is to enter politics in the Philip- in Southeast Asia. He’s also the author pines. “I want to be become the President of three best-selling motivational books, of the Philippines,” Yabut declares, with From Grit to Great, Fast Forward, and his planned roadmap for this role having IMAGES COURTESY JONATHAN YABUT JONATHAN COURTESY IMAGES

48 / ENTREPRENEUR.COM / April 2020 JONATHAN YABUT ON RISING TO GREATNESS (WITH PURPOSE)

are the young ones who will in many places.” When it But sometimes, asking for help eventually be the voters.” comes to Yabut motivating oth- is more important, because the Setting his political ambi- ers, his goal is pretty simple: cost of not raising it is going to tions aside, as someone who his audience should believe be less than the cost of regret- understands what it means they can always be a better ver- ting irreversible mistakes.” to persevere and realize one’s sion of who they are. “Remem- Yabut also notes that perspec- goals, and further makes it his ber that your [glass] ceiling tive is important- it’s impor- job to help others do just that, could be just someone else’s tant for one to have the ability I ask about his thoughts on floor. For you to become the to look beyond one’s own point how one can go about sustain- best, don’t benchmark yourself of view to consider another ing motivation. Yabut replies with yourself. Because if you person’s standpoint. Cultivat- that it starts with the mindset were born with low standards, ing this skill will enable you to of understanding that motiva- you will keep on comparing convince a team member to get tion isn’t permanent, and that with low standards. Determine a job done by considering their its sources will not stay the who’s the best, and benchmark personal motivations. “Some- same. “When you have an open yourself versus that.” times you have to ask the mind, believing that motivation My conversation with Yabut person what motivates them changes from time to time, you ends with him sharing the hard at work, and when you know Yabut’s political ambitions don’t get stuck the moment lessons he’s learnt along his that this is the reason why they have had a role to play in you’ve lost it,” he explains. life and career so far. The first, go to work every morning, use Yabut’s move into entrepre- “It’s not lost, it’s because you is on managing expectations, that as a fuel, and the person neurship as well- climbing the have to find a new one… Most which he learnt early on, after moves better.” He also believes corporate ladder might have people feel like they’re de- being tasked with a project in the significance of working slowed him down in terms of motivated, because they feel on a three-month deadline. It on what he calls one’s individ- how quickly he can realize his that they’ve lost it. Instead, turned out to be a six-month ual “packaging.” “We buy items goals. As such, Yabut used his you simply need to change it, long concept, yet his pride kept in the grocery stores based on winnings from The Apprentice because your life has changed.” him from speaking up until the how they look like, and so your Asia to launch his marketing He also advises not to rely on last minute. “Communicate choice of words matters,” Yabut consultancy firm. “When you only one source of your motiva- immediately. As millennials, I explains. “The skill or ability to enter politics, you should be tion. “Don’t place [your] mo- think we are scared of the fail- choose your words according to financially stable, so that you tivation in one basket. Spread ure, so we say, ‘I won’t speak who your audience is can pro- don’t get corrupted. That is your eggs, just like investments up since I can still handle it.’ pel you to success. And some- the ultimate objective I want, I times, people promote others want to be that politician: the not just based on how good Alexandria Ocasio-Cortez mod- they are, but based on how el, driven and funded by the "YOU MIGHT BE THE BEST EMPLOYEE, good they are when it comes to people, and therefore you don’t BUT IF YOU CAN’T RIDE THE TRAIN ON TIME, communication skills. It’s not owe anyone your success.” As about how you’re smart, but a way to sow the seeds to his IT DESTROYS YOUR MOTIVATION." how you convey the story.” prospective presidential campaign, Yabut explicitly states this intention in his books, and his stints as a motivational and marketing speaker in a wide variety of sectors with companies such as Google, Ac- centure, Unilever, and more helps further this goal as well. “I chose this specific business because it still puts my name out there. The talks allow me to reach the audience as early as now, planting the seeds so that when I start running in the government, everyone recalls my name. The majority of our clients are private companies, and a lot of [their employees]

Jonathan Yabut at Usana National Conference with an audience of 10,000 people

April 2020 / ENTREPRENEUR.COM / 49 ‘TREPONOMICS PRO

WHEN CHOOSING A LOGISTICS PARTNER FOR RETAIL AND ECOMMERCE, SMALL BUSINESSES SHOULD FOCUS ON THOSE THAT CAN PROVIDE DELIVERY OPTIONS –SPEED, COST OPTIMIZATION, AND RELIABILITY–TO DIFFERENTIATE THEIR OFFER.

1/ Know your customer Be aware of the changing customer expectations that are driving global e-commerce trends, how they apply to the business, and what can be done to successfully adapt. Feedback from customers and shippers highlight that technology and digital transformation will continue to play a critical role in the future of e-commerce and trade. Hence, small businesses must use data and technology to continue to understand their customers’ needs, expand their services, and select the right COMPETITIVE ADVANTAGE partners to meet the requirements of the demanding online shopper. Five key growth considerations for SMEs within the evolving 2/ Go global regional e-commerce ecosystem by RENZO BRAVO The advent of the virtual marketplace means consumers now research for the best price, no matter where the prod- conomic diversification been taken to reduce costs and boost uct is, be it in the town they live in, is critical to the future of business confidence. This has led to or another continent altogether. It has the Middle East region. growth and increase in not just the opened doors for small and medium Regional governments number of SMEs, but also their contri- companies to trade across borders in understand that creating bution to the GDP of countries in the a way that was never possible before. a knowledge and services- region. For example, in 2019 it is esti- Take advantage of the opportunity based economy, where mated that in the UAE, SMEs contrib- to trade cross borders with ease, but businesses of a range of uted 53% to the national GDP, up from be sure to do it right by customizing E sizes can grow, will help about 49% in 2018. The UAE federal your platforms and logistics strategies achieve sustainability. As such, small government aims to increase this rate accordingly. Historically, there were and medium enterprises (SMEs) have to around 60% by 2021, underscoring aspects of cross border sales such as increasing opportunities for develop- the importance of this contribution taxes and duties that were difficult to ment in the region. in supporting the country’s long-term manage; however, today, all of those Over the past decade, Middle Eastern economic plan. complexities can be taken care of by governments have been investing in Given the pace at which the world is logistics companies. At the end of the creating the right infrastructure to help evolving, coupled with the young, digi- day, SMEs that don’t go global will be SMEs flourish. Dubai, in particular, tally mature population in the region, at a significant disadvantage in the has set ambitious development goals in there are increased opportunities for future. the 50 Year Charter including the es- SMEs. Creating the right infrastructure tablishment of the world’s first virtual and opportunities for SMEs and help- 3/ Get your channel strategy right trade zone targeting 100,000 compa- ing them navigate the e-commerce, Depending on the growth strategy, nies, as well as the transformation of retail and logistics waves is therefore SMEs may need to consider direct universities into free zones in order critical, especially for those looking to selling, through online marketplaces or to promote economic growth and in- make their mark in the e-commerce in- ecommerce platforms. With an omni- novation. These goals offer exceptional dustry. Here are five considerations for channel strategy, off and online opera- opportunities for promising SMEs. SMEs to keep in mind when pursuing tions need to be integrated to provide In addition, a number of measures have growth in the e-commerce ecosystem: a seamless experience to customers.

50 / ENTREPRENEUR.COM / April 2020 FIVE KEY GROWTH CONSIDERATIONS FOR SMES WITHIN THE EVOLVING REGIONAL E-COMMERCE ECOSYSTEM

Selecting the right application program interface (API) plug-ins and modules to enable addition- BOOSTING AN ECOSYSTEM al options and integrate with THE ADVENT OF DIGITAL ASSET REGULATIONS these platforms might seem like a complicated process, which is IN THE GCC IS GOOD FOR THE REGION’S STARTUP where a reputable logistics part- LANDSCAPE by KOKILA ALAGH ner will step in and guide, based on one’s needs. hile some might view ing sector, and family offices, but without 4/ Focus on what you do well, regulations as a hindrance excluding them. Digital assets issuance is let others do the rest to innovation and creativity, also much more practical and easier than Work out which partners are Win many cases, it actually conventional securities to launch. needed, and create a partner supports entrepreneurs and startups to With this new form of liquidity comes strategy to capitalize on the be able to innovate, create, and market great responsibility towards the protec- most advanced capabilities their products and solutions in a legally tion of investors. Unregulated digital available. When choosing a and regulatory supportive environment. assets like those we witnessed in the logistics partner for retail and In the GCC, this can be seen through the form of initial coin offerings are a thing ecommerce, small businesses framework of digital asset regulations of the past. Today, instead of banning should focus on those that can that are being initiated and developed crypto assets, regulators in the GCC have provide delivery options –speed, across the region. held consultations and discussion with cost optimization, and reliabil- One of the ways the digital asset market players. Today, the GCC is home ity- to differentiate their offer. regulations in the GCC is assisting to some of the finest regulations in the The highest levels of service startups is through the ability to increase digital asset space. Examples include Abu COMPETITIVE ADVANTAGE commitment and digital inte- liquidity, which is a major impediment for Dhabi Global Market (ADGM) in the UAE, gration, along with automated many startups in the region. How does and the Central Bank of Bahrain, both of back-end support, visibility, and this work? When startups can issue whom have been leaders in this space. reporting are competitive ad- digital assets and exchange them, it ADGM’s framework paves way for is- vantages to build brand loyalty. allows them to bring in investment from suance, trading, and exchange of virtual The clearance efficiency offered a broader investment base, surpassing assets, digital securities, fiat tokens, and by the delivery partner can also traditional investment entities, the bank- other derivatives from the free zone. be an important differentiator Similarly, Bahrain’s framework contains for small companies– one wants the rules concerning trading, dealing, a partner that will ensure that TODAY, THE GCC IS HOME advisory services, and portfolio man- correct shipping documentation, TO SOME OF THE FINEST agement services in accepted crypto relevant approvals and authori- REGULATIONS IN THE DIGITAL assets as a principal, agent, custodian, zations are in place to avoid any ASSET SPACE. EXAMPLES or crypto-asset exchange within or from delays, and ensure products are INCLUDE ABU DHABI GLOBAL the Kingdom of Bahrain. Both ADGM and delivered in the shortest pos- MARKET (ADGM) IN THE UAE, Bahrain have kept the costs of incorpora- AND THE CENTRAL BANK OF sible time. BAHRAIN, BOTH OF WHOM HAVE tion competitive for the startups under BEEN LEADERS IN THIS SPACE. their framework. >>> 5/ Be ready for change Last but not the least, don’t get locked in. E-commerce is an emerging economy that neces- sitates flexibility, so it is critical for SMEs to ensure they are ready to change as it evolves in order to successfully accom- modate changes in customer demands and development of new solutions. From the outside looking in, one could think the world of e-commerce is fragmented and complex, with multiple risks and as yet, un- defined rewards. However, with the growing number of full- >>>

April 2020 / ENTREPRENEUR.COM / 51 ‘TREPONOMICS PRO

service providers and technology solutions to facilitate the online As such, today, investors are journey at every step of the way, more confident in investing in it is becoming much easier to get digital assets issued under the a foot in the door. guidance of these regulators. Now, what SMEs need to re- For the “once-bitten-twice-shy” member is that they don’t need category of investors who have to own -or even actively man- lost their investments in the pre- age- all parts of the e-commerce regulation era in digital assets, ecosystem. Almost every element they can find comfort in the fact of the e-commerce process -from that GCC regulators are treating live customer tracking, to deliv- digital assets at par with other ery options, returns management investment models. For instance, capabilities, chatbots and contact the legal requirements of issuance of This is paving the way for new startups centers, as well as localization of digital securities are at par with those of and industries to flourish in the region. currencies, languages, and deliv- issuance conventional securities under Most of the regulators in the GCC as well ery options- can be outsourced the ADGM framework. as other entities have also developed to either one full service logistics Similarly, crypto assets exchanges are sandboxes to offer startups the environ- provider, or a network of players. treated at par with multilateral trading ment needed to develop their solutions facilities (MTF). This means that the while adhering to laws and regulations. CONSUMERS NOW RESEARCH set-up and governance obligations for a These include ADGM, Dubai International FOR THE BEST PRICE, NO crypto-exchange are as rigorous under Finance Center (DIFC), and even Bahrain MATTER WHERE THE PRODUCT the markets and infrastructure rules of Fintech Bay in cooperation with the Cen- IS, BE IT IN THE TOWN THEY LIVE ADGM as that of an MTF. My company, tral Bank of Bahrain. KARM Legal, has had the good fortune of For instance, DIFC has recently IN, OR ANOTHER CONTINENT working on multiple transactions related permitted capital raise on crowdfund- ALTOGETHER. to digital assets, and we can safely con- ing platforms through tokens to a few clude that both ADGM and Bahrain have entities under the sandbox model of taken a consumer-first approach, but at DIFC, and KARM has had the privilege of the same time, haven’t stifled technology advising a few of such participant enti- in any manner. ties. In addition, another firm regulated The regulators hold detailed discus- out of ADGM has been able to launch the sions on the aspects of technology first regulated private equity financing governance with the entities seeking platform and has successfully tokenized licenses- for instance client onboarding, shares for six startups. Further, in order business continuity, disaster recovery to boost startups and SMEs, ADGM has plans, and security operating procedures. introduced a regime for digital banking As a result, we have seen a massive to promote financial inclusion accessing With the right partner, they can surge in the sectors of tokenization of untapped, unbanked, and underserved gain advantage from the ability securities of special purpose vehicles, clients across markets. Digital banks to overcome geographical limita- fund units, and real estate investment focusing on lending to small and medium- tions, increase market reach, and trusts. Different sectors like hospitality, sized businesses with advances in AI, achieve scale- without having art, real estate, and natural resources data management, and analytics are to make any bricks and mortar have also seen a significant penetration enabling more risk-sensitive and timely investments. The right partner of digital assets-based models. credit decisions at a lower cost. will also provide SMEs with the Just as regulations have allowed So, all in all, it is not just the digital as- agility and flexibility required to startups to be able to receive increased sets regulations that are facilitating the tap into high growth markets. As liquidity and open their digital assets to startups, it’s the entire GCC ecosystem such, what SMEs getting into the a wider range of investors, digital asset that is trying to send a message loud e-commerce space need to focus regulations in the GCC have also spurred and clear: stop perceiving us merely as on is finding the right partners the launch of new startups in the fintech, oil economies. We are ready for you, and with the right capabilities- this is regtech, insurtech, compliance, digital we are ready for the fourth industrial crucial to remain competitive. identity, cyber security, and other areas. revolution.

Renzo Bravo is Head of Marketing and Strategy for Kokila Alagh is the founder of KARM Legal and STO LAB MENA. karmadv.com ISMEA, UPS. ups.com

52 / ENTREPRENEUR.COM / April 2020

START IT UP Q&A

Lars Johannesen is the founder of Privilee, a fitness and leisure

app-based membership service. OF PRIVILEE/ITP COURTESY IMAGE

54 / ENTREPRENEUR.COM / April 2020 GOING FROM STRENGTH TO STRENGTH | PRIVILEE FOUNDER LARS JOHANNESEN

GOING FROM STRENGTH TO STRENGTH Privilee founder Lars Johannesen on how he went about building “the UAE’s ultimate fitness and leisure app” by TAMARA PUPIC

t’s difficult to figure out what you are actually good more over here as a person.” Exiting CEGO happened in at when you’re that young,” says Lars Johanessen, two stages with Johanessen selling 10% of the business in looking back at 2009, which was when he moved to 2009, and the remaining 40% in 2012, while the lessons the UAE from Denmark. Today, Johanessen is the he had learnt would prove to be even more valuable in the founder and CEO of Privilee, a fitness and leisure long run. “We went from casual gaming, with the adver- app-based membership service offering a five-star tising paying all the bills, to a subscription model, where lifestyle to everyone at affordable prices. In the UAE, you’re getting additional games and benefits,” he says. “So, its current portfolio includes more than 55 luxury resorts we went from one day thinking that ‘the advertising was Iand beach clubs, more than 60 gyms, in addition to spas not good that month’ to introducing a subscription model, and kids’ clubs and discounts at more than 300 restau- and then, all of a sudden, we started making a lot of money. rants and bars. However, his first comment does not really I learnt the subscription model pretty well then.” fit into a usual beginning of a rags-to-riches story of a His first six years in Dubai could be described as a “Yay, newcomer to Dubai struggling to find his place in the city. retirement!” dream, as he puts it. “But I got bored,” Johan- A decade ago, Johanessen was a 29-year-old digital entre- essen says. “Then, I tried a ton of things, such as importing preneur with a hefty exit under his belt and plenty of time paintings from China and selling them online in Denmark, and money to be spent at the city’s beach resorts. 10 years or a charity website where you could donate to charities or before that, he was a factory worker discussing startups you could collect money if someone was sick, or a concept I with a friend and colleague during their many night shifts. copied from here to advertise behind receipts from stores.” Those conversations grew into CEGO, a Danish video game It was then during a trip to the Seychelles that Johanessen developer that became the first company to gain an on- witnessed airline crew enjoying deals and discounts not line gaming license in Denmark and explore the country’s available to the majority of people. Before long, he turned casual gaming segment. his annoyance by this situation into a business plan to >>> “My business partner and I started out in a basement, and had been friends for almost seven years prior to that, but we kind of grew apart,” Johanessen says, as he explains “ALL OF A SUDDEN, WE STARTED what led to him exiting that business and moving to Dubai. “I wish I had realized earlier that we were two CEOs doing MAKING A LOT OF MONEY. the same thing, and that we needed to split the roles, as I LEARNT THE SUBSCRIPTION in, ‘You take care of this, I’ll take care of that.’ But I don’t regret exiting that company, because I have grown much MODEL PRETTY WELL THEN.”

April 2020 / ENTREPRENEUR.COM / 55 START IT UP Q&A

says. “I just had ing them, because people got a Privilee to burn through membership for a quarter of the price. It the cash.” used to cost them AED25,000, but with Quite quickly, us, it was just AED6,000 per year. These however, some days, the hotels love it, because they have of the city’s additional revenue every day of the week most prestigious in restaurants and beach clubs, which, hotels recognized normally, they wouldn’t have had.” the benefits of Next, Johanessen’s eyes were set on the partnering with city’s gyms in order to offer Privilee mem- Privilee: a cash bers fitness membership at a lower price injection, year- and with an added benefit of access to round revenue, pools and beach clubs. “I think that over The Privilee team up-selling, and the last 10 years, the gym market here brand awareness has changed a lot, because there was only among residents Fitness First before, but now there are so purchase beach and pool memberships of Dubai, who proved to be repeat visitors. many different places, and they all want at luxury hotels, and then allow Privilee “For the hotels, it was tricky, because for to attract customers,” he says. “So, it’s members to utilize them at a fraction of some of the most popular venues, we used easier for us to come in now and to buy the cost. The first hurdle to overcome to conflict with their own in-house mem- memberships, but we still try to protect was getting hotels in Dubai onboard. “At berships,” Johanessen explains. “However, the gym. So, every time we do a partner- the beginning, it was quite expensive and since the whole change in salaries and ship with a gym, we say, ‘Okay, how do quite hard to get hotels to even listen to packages down here, we now fit into the we protect your members? What is it in you, so it took me a lot of money to pur- market. But when we launched it, some your business that you want to keep for chase memberships at a lot of properties of the hotels used to have thousands of your in-house members?’ So, we don’t to ensure I had enough memberships,” he members, and we were kind of steal- just steal all their members, because then

The Privilee office in Jumeirah Lake Towers

56 / ENTREPRENEUR.COM / April 2020 there will be dull months, and we won’t have a partner- ship. Some of them don’t get it, but from the ones who do, we actually end up buying more memberships, and bringing more business to them.” Today, the Privilee product offering is a digital app-based membership that can be purchased for one-month, four- month, and annual time frames from as little as AED529 per month. Guest passes can also be purchased for one to four weeks at AED289 per week. Due to this price point for a five-star offering, Johanessen says he has been able to rely on word of mouth as the main marketing tool. Never- theless, the Privilee team has been cautious when finding the right message to be sent out to the market. “Because the concept is not something you need,” Johanessen explains. “It’s a bit tricky saying, ‘You should get this,’ when you don’t really need a beach membership, but as soon as you try it, you can’t live without it. That story is difficult to tell. You can’t just sell this online, because people still go, ‘Ugh, do I really need that?’ And we’ve always been very transparent with our customers. I hate signing up people who will come two weeks later and say, ‘Oh, but I can’t use this on public holidays.’ It’s not me enforcing these things, but the hotels saying that if they have 200 guests by the pool, they can’t fit in 50 more guests. People feel that it’s actually okay that we’re honest about what we’re doing, and delivering on the promise.” The Privilee office in Jumeirah Lake Towers is housed by 25 carefully selected staff members, Johanessen says. “We actually send out job openings to our customer base, and Lars Johannesen, founder, Privilee then we get quality candidates. I used to use LinkedIn, but we got thousands of people who were not qualified. Going through that is just a nightmare. So, we work with recruit- ers, and we also do it in-house, but I still find it challeng- “I JUST HAD TO BURN ing, especially if you want to hire developers down here. We built this office for 25 employees, and I don’t want to THROUGH THE CASH.” fit in more people. I know from the past that as soon as we go past 30, you don’t connect with them personally. I don’t will not work in Europe; like in Italy, they have got nice know anything about them. It’s not that fun to come into hotels, but they don’t have the resort culture,” Johanessen work anymore, but I know it’s inevitable.” The company says. “We can open up in Greece, but if you told someone broke even a couple of years ago, and Johanessen admits in Greece to pay a EUR1,000 a year to use a sun lounge, that it has taken him some time to find a fine balance they would have a heart attack. But this would work well between growth and costs. “I don’t like the culture of just in Miami, because you’ve good weather, five-star resorts, burning through cash to see if eventually we’re going to but it needs to be tweaked a lot over there, just like in make money,” he says. “We are not just another aggregator, Singapore.” When asked if his future dreams include him but we invest in hotels, and that’s why I think we’re suc- moving on from being an entrepreneur to becoming an cessful, and why they want to work with us. But, as soon investor, Johanessen confesses that he’s not interested as I go to the media, people start calling me and saying in that shift just yet. “Just because you’re good at start- ‘Hey, can we raise funds for you?’ I don’t need money. ‘Ah, ing something does not mean that it is easy to be on the but you do need money!’ What am I going to do with it? If sidelines, and guide someone else on what they should do,” there was a plan that I needed to explore, I would probably he explains. “Some entrepreneurs are good at being inves- see someone who could help me to raise funds, but as of tors, but that’s not my skill. A lot of entrepreneurs think now, I just need to tweak the concept before we move in- that ‘I’ll just invest in this, and I could be on the board,’ ternationally. It’s different, because I’m funding it myself.” but a lot of them don’t realize that that might not be their Fast forward a few months or years, Johanessen would skillset. They’re actually good at seeing a demand some- prefer for any partner to consider working with Privilee as where and fulfilling it, or hiring the right people, or making a no-brainer. That said, he notes that expanding Privilee good business deals, but it doesn’t mean that they are good internationally will require the concept to be modified. “It board members.”

April 2020 / ENTREPRENEUR.COM / 57 START IT UP ECOSYSTEM

every question for an hour was centered around culture and fit. For instance: Why did I want to join a startup again? Why didn’t I want to start my own company again? Why was this the right place for me in that moment? Why didn’t I want to move back to Silicon Valley if I was interested in technology? Why Careem? I knew I had joined the right place when during my first week, I met the co-founder of Careem, Magnus Olsson, and he didn’t ask me once about my work experience. I will never forget it: in our first introductory meeting, he asked me if I knew what my life purpose was, and how Zina Ajlouny working at Careem would fit into my life purpose. That day he also endearingly shared (and continues to share) that if I or anyone else ever felt like working at Careem was not The ride continues fitting into their life purpose anymore, there would be no How Careem’s culture as a startup fueled hard feelings, and that I and everyone else should find a the Careem Cartel by ZINA AJLOUNY place that did fit. Magnus calls this “living your true purpose- your calling.” It was through instances like was lucky to join Careem before the hype train hit it- before it these at Careem that I knew had raised more than US$770 million from investors, before it I had joined the right place. had cemented itself as the MENA region’s first (and to-date, Even if we were getting shut down every once in a while only) unicorn startup valued at more than $1 billion. I joined -whether due to our extraordi- Careem in September 2016, a time when we were still getting nary growth, or government- imposed restrictions- I knew shut down by regulators in multiple countries that didn’t that we were at least getting know how to manage such a disruptor. shut down with the best peo- I ple around. Funnily enough, When my stably employed law- same. I wanted to join Careem I started to realize that I loved we still get the occasional yer father asked me why, after because I loved the people that the people at Careem as I went shutdown threat from regula- founding a startup, after get- I had met there. I loved that through my final interview tors, but today, we believe ting an MBA, and after working feeling I got there that I knew with our epic dealmaker, CFO it to be a systematic part of at the Boston Consulting I could never explain to him Ankur Shah, in September the trend of technology and Group, I would want to join a or anyone who didn’t share 2016. Thankfully for me, not innovation moving faster than what he called a “taxi compa- that same intangible feeling of one question from Ankur that regulators can keep up with. ny,” my answer was always the belonging at a company. day was about finance. Almost Well, that was September

Zina Ajlouny is a Palestinian American entrepreneur. She was part of the founding team of Bonfaire -an e-commerce platform that was acquired by Moda Operandi- in San Francisco. She currently resides in Dubai, where she worked first as a management consultant for Boston Consulting Group, then spent three years as part of the strategy and public policy team at Careem, and is now working on a stealth startup. Zina holds a BA from the University of Michigan and an MBA from INSEAD. Her mission is to empower the next generation of female leaders and to share positivity along the way. You can follow her journey on

Instagram @thepositivez. ALJOUNY ZINA / CAREEM COURTESY IMAGES

58 / ENTREPRENEUR.COM / April 2020 THE RIDE CONTINUES | HOW CAREEM’S CULTURE AS A STARTUP FUELED THE CAREEM CARTEL

2016, and this is March 2020. its drivers) for helping fuel uninitiated, the PayPal Mafia ship growth in the region. It A lot has changed since those this milestone achievement. refers to a group of people, seems that Careem alumni early days. Since then, Careem There was never ever a feeling who after working at PayPal, are creating their own (legal) became the first and only of arrogance at Careem, and went on to further catalyze the mafias or cartels, staying unicorn (though we preferred this was showcased in how the startup ecosystem in Silicon within the startup space in the word ‘unicamel,’ because founders took little credit for Valley. This group includes the region, and moving to- we are local like that) exit this acquisition. It was always ex-PayPal’ers like Elon Musk wards catalyzing our region’s in the history of the MENA a feeling of we have done so (founder of Tesla and Space startup and entrepreneurial region. Humbly, we became a little– there is so much more X), Peter Thiel (founder ecosystem. And a year after unicorn three times over- less left to do. It was always very of Palantir), Reid Hoffman the acquisition, someone (not than seven years after Careem humbling, no matter what the (founder of LinkedIn), David me!) coined a name for this started on the first day of financial headlines said. Sachs (founder of Yammer), group too: the Careem Cartel. Ramadan in July 2012 (there’s On the day of the acquisi- Dave McClure (founder of 500 The Careem Cartel has moved even a nod to the Rama- tion announcement, Mudassir Startups), and Steve Chen on to major roles within the dan Kareem greeting in our announced the good news in a and Chad Hurley (founders of technology and broader busi- name!), Uber acquired Careem memo to all colleagues. “This YouTube). ness ecosystem, some as the in March 2019 for $3.1 billion. will radically and irrevers- Now, at Careem, we hadn’t founders of Careem-adjacent On that day, March 26, ibly enhance the support coined a name then, but it businesses, while others as 2019, the original two and funding opportunities seems our little mafia is today founders of non-Careem- co-founders of Careem, for local entrepreneurs,” he poised to play an active role in adjacent businesses, and a few Mudassir Sheikha and said. “Every ecosystem needs helping shape the next wave of more as key hires at growing Magnus Olsson, went around a landmark transaction, and technology and entrepreneur- startups in the region. >>> showing their gratitude to we hope this will be ours.” On everyone who had made that same day, I also shared this milestone day possible. this on my personal Face- EVEN IF WE WERE GETTING SHUT DOWN EVERY ONCE That morning, Mudassir book page: “I’ll be betting IN A WHILE -WHETHER DUE TO OUR EXTRAORDINARY humbly thanked everyone on a Careem mafia –a la the from Prime Ministers to PayPal Mafia– to help drive GROWTH, OR GOVERNMENT-IMPOSED RESTRICTIONS- Careem colleagues to Captains the next set of unicorns in I KNEW THAT WE WERE AT LEAST GETTING SHUT (which is how Careem calls the MENA region.” For the DOWN WITH THE BEST PEOPLE AROUND.

A Careem team photo

April 2020 / ENTREPRENEUR.COM / 59 START IT UP ECOSYSTEM

THE CAREEM CARTEL HAS MOVED ON TO MAJOR ROLES WITHIN THE TECHNOLOGY AND BROADER BUSINESS ECOSYSTEM, SOME AS THE FOUNDERS OF CAREEM-ADJACENT BUSINESSES, AND A FEW MORE AS KEY HIRES AT GROWING STARTUPS IN THE REGION.

chain network for food and Director of Branding and grocery retailers that raised Marketing; Ihab Ahmed, ex- $6.2M in seed investment, the Senior Director of Social and MENA’s largest seed round to Content; Omar Ezz, ex-Senior date. Regional Brand Marketing Manager; Silvia Muller, Mohamed Aboulnaga, ex- ex-Global Customer Brand Regional Director of Careem Manager.) Egypt, is currently the co- founder and Chief Commercial Ibrahim Bou Ncoula, ex- Officer of Halan. Halan is a Software Development ride hailing application for 2-3 Manager at Careem, is the seater vehicles that raised a Chief Technology Officer at $20 million Series B. (10 other Washmen, an online laundry ex-Careem colleagues have service that raised $6 million. also joined Halan.) Khaled Rashad, ex-Chair Nadia Rouchdy, ex-Director of Architecture Council at of Sustainability and Social Careem, is today the Chief Impact at Careem, is today the Technology Officer at Talabat, co-founder at Reel Palestine, an online food delivery an annual film festival. platform.

Mossab Hussein, ex-Product Asma Alyamani, ex-Product Manager at Careem, is the Lead at Careem, is today the co-founder and Chief Security Head of Product at MamoPay, Magnus Olsson, co-founder, Officer at SpiderSilk, a a mindful finance application. Careem, at Entrepreneur Middle East's Enterprise Agility Forum cybersecurity firm. Stacey Pinto, ex-Senior Zach Finkelstein, ex-VP Corporate Affairs Manager, is Corporate Development at currently the Director of Brand Here is a non-comprehensive that has raised $80 million to Careem, is the founder and and Reputation at Kitopi, a list of who and what the date, the largest ever funding Managing Partner of Class 5 cloud kitchen enterprise that Careem Cartel are up to now, round for an Egyptian startup. Global, a San Francisco-based raised $89 million. as well as their previous roles venture capital fund. at Careem: Yusuf Saber, ex-Data Yamen Fakhreddine, ex- Science Lead at Careem, is Amr Ramadan, ex-Public Policy Director of Finance, is the IQ Sayed, ex-VP, Global Head currently the co-founder Manager at Careem, is the co- Chief Financial Officer at of Engineering at Careem, is and Chief Technology Officer founder and Project Director Sprii, an e-commerce platform now the co-founder and CTO at BulkWhiz. BulkWhiz is a at Wasla, a music festival. that has raised $14 million so at Circ, e-scooter company. platform for bulk grocery and far. Circ was acquired by Bird, a staples delivery that recently Christian Eid, ex-VP Brand and Los Angeles-based e-scooter raised a multi-million dollar Communications at Careem Whether you like the arguably company in January 2020. Series A. joined hands with Nadia obnoxious name or not, here’s Rouchdy to co-found Ducklife, to cheering the Careem Cartel Mostafa Kandil, ex-Market Belal Al-Megharbel, ex-General a brand advisory and impact (and everyone else) who are Launcher at Careem, is today Manager of Careem Cairo, platform. (Other ex-Careem fueling and following their the founder and CEO of Swvl, is the founder and CEO at colleagues at Ducklife include inner purpose. We’re all in this a bus transportation network MaxAB. MaxAB is a supply Steve Worobec, ex-Senior ride together. Yalla, let’s go!

60 / ENTREPRENEUR.COM / April 2020 FORFOR THETHE MOSTMOST DARINGDARING LEADERSLEADERS

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MIDDLE EAST CULTURE LIFE

tant things first. Not only will you get the most pressing business done early, but you’ll also spend less time on the small things, saving a surprisingly large amount of time and energy. Furthermore, this also minimizes the chances of procrastination seeping in, because handling one task at a time wouldn’t leave you feeling overwhelmed, which is a nice segue to the next step.

4/ Break it down Big tasks can be daunting, so why not approach them step by step? Breaking a big job into a number of smaller tasks that can be accomplished relatively easily will greatly enhance your likelihood of complet- MIND OVER MATTER ing it without feeling overwhelmed. Five daily rituals to enhance your brain health 5/ Consciously unplug from the grid by DR. UPASANA GALA Set aside specific times of the day and plan breaks. Whether it’s with reading a book, making a coffee for yourself, or a chat with tress seem to be an integral a huge number of successful entrepreneurs a friend, it must be a total unplug. This part of business today, and are extremely early risers. The old adage means no checking your emails mid-read, it’s often been perceived as a wasn’t wrong! no answering calls when you’re sipping badge of honor– something coffee, no distractions when you’re catch- to attest to our profession- 2/ Declutter your mind with exercise and ing up with a friend. Be mindful of what alism and commitment to meditation you’re doing in the moment, and really try work. However, too much This has been scientifically proven to be to switch off. You’ll return to your work S stress -especially in the times an excellent way to kick start your day. sharper, and with more enthusiasm. we are currently living through- can be Daily meditation coupled with exercise is counterproductive. Here are a few power- a great outlet to both clear your mind and 6/ Use hidden time ful, and perhaps most importantly, painless help you plan for the day ahead. In fact, There are many bundles of time scat- changes you can make today to enhance just a 20-minute run in the morning will tered throughout our day that we take for your brain’s health, and make you more go a long way in boosting your dopamine granted. Often, when we’re in the process productive and efficient, all while lowering and norepinephrine levels, improving your of completing a task there is a lull in our your stress levels too. motivation and productivity for the day in activity– this is a great opportunity to return. (And no, this does not have to be use this time to get something else done. 1/ Early to bed, early to rise done outdoors—several fitness enthusiasts Waiting for feedback from a client? Why A good night’s sleep goes a long way to have shown this can be done even while not tackle some administration you’ve been make you more productive, because deep staying home and respecting self-isolation putting off! Waiting on a delivery? That’s sleep facilitates healthy brain function, and social distancing measures!) Fur- perfect time for a stock take! Make use of builds immunity, and even repairs muscle. thermore, 10 minutes of meditation right hidden time; it’s a marvelous thing. According to research by LiveScience, after waking up allows your brain to take lack of sleep impedes communication advantage of its creative alpha waves to 7/ Be blown away by brain training between our brain cells, which can lead start off your day right. Some great apps to Brain training is a powerful way to not only to temporary mental lapses and affect our help you with that include Headspace and conquer stress and anxiety, but also im- memory and perception. Therefore, try Calm. Meditation also facilitates visualiza- prove focus and productivity. Non-invasive and commit to a fixed bed-time, ideally tion and prioritization, ensuring that your brain training techniques like neurofeed- sleeping between 8pm and 12am (shown day can be as productive as possible. back use our own brain’s self-regulation to be the prime bracket for rapid eye mo- mechanisms to improve its performance. ment (REM) and non-REM sleep) to start 3/ Eat the frog, and follow the 80/20 rule At its essence, it’s like being able to put a forging a habit and regulate your circadian The 80/20 rule, also known as the Pareto mirror inside our brain, so it can see the rhythm. Adequate sleep improves con- Principle, states that 80% of outcomes are flaws, and then go about correcting them. centration, memory, and problem-solving a result of 20% of activities. So, prioritize It’s an amazing tool to enhance brain capabilities. And, it’s no coincidence that your tasks, and focus on the most impor- power, and make our minds sharper.

Dr. Upasana Gala is the founder and CEO of Evolve Brain Training, a neurofeedback centered institute that focuses on using non-invasive brain training techniques to maximize the brain’s true potential. evolvebraintraining.com

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