SEAL THE DEAL THE TOP THREE PSYCHOLOGICAL BARRIERS IN SALES (AND HOW TO OVERCOME THEM)
NAJLA AL-MIDFA CEO, SHARJAH ENTREPRENEURSHIP CENTER (SHERAA)
AHMED ALKHOSHAIBI GROUP CEO, KBW INVESTMENTS
AHMED KHOURI FOLLOW MANAGING DIRECTOR, UNION PROPERTIES
JEAN-MICHEL GAUTHIER THE LEADER CEO, OLIV MOHAMMAD SAEED Enterprise head AL-SHEHHI honchos talk strategy, CEO, DUBAI DESIGN industry-specific DISTRICT (D3) tactics, and professional PATRICK CHALHOUB challenges CO-CEO, CHALHOUB GROUP
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No residency visa required to buy property Open to all nationalities 22 38 46 50 INNOVATOR: INNOVATOR: ‘TREPONOMICS: ‘TREPONOMICS: FOLLOW THE LEADER INNOVATING GOVERNANCE PRO PRO MENA business leaders Singularity University Love where you work Retaining talent Following outstanding sales in phases 1, 2 & 3, • No service fee for life across different industry co-founder and Executive Bayt.com’s VP of Employer Abdulmuttalib (Talib) ARADA presents Nasma Residences Phase 4. • Pay 60% on completion sectors talk strategy, Chairman Dr. Peter H. Solutions Suhail Al Masri Hashim, founder, TBH industry-specific Diamandis explores the future lists the essential elements Consultancy, explores six Located in the lush surroundings of • Up to 10% ROI tactics, and professional of voting, policy-making and of a meaningful company reasons why GCC employers a record-breaking community. challenges. legislation. culture. are losing their best employees. 74 START IT UP: 84 Visit our Sales Office 800-ARADA (27232) ECOSYSTEM START IT UP: Badriyah Ballroom, arada.com Inclusive innovation ECOSYSTEM VilCap Innovations’ Senior Investing in success Radisson Blu Resort, Sharjah manager Heather Matranga Telcos can (and should) play and MetLife Foundation’s a vital role in the success 10am – 7pm *T&C apply Program manager Sarah of Middle East’s millennial Willis explain the impact the entrepreneurs, says Hany Middle East’s fintech boom Fahmy Aly, Executive Vice has on the region’s economic President - Enterprise inequality. Business at du.
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CONTENTS AUGUST 2018
66 44 ‘TREPONOMICS: CULTURE: PRO TRAPPINGS Keeping your brand ‘Trep gear relevant The executive selection for Consumer-facing brands the entrepreneur on your should evolve with the list that has everything. ever-changing needs of Okay, maybe for a little self- the modern customer, reward as well. while preserving their heritage, and yet, moving forward, writes 44 McDonald’s UAE General Chopard L.U.C. 150 “All-in-One” Manager Walid Fakih. 24 Patrick Chalhoub, co-CEO, Chalhoub Group 76 54 82 START IT UP: ‘TREPONOMICS: START IT UP: STARTUP FINANCE MARKETING Q&A We got funded! Expand your reach Industry insiders MENA startups gain Ekaterina Vasina, Content Sabina Marini and Saif Saud, momentum: Jordan-based Editor, Admitad Academy, the entrepreneurs behind POSRocket receives a helps you understand how global PR consultancy Haute US$1.5 million boost, affiliate marketing can PR + STYLE, talk about while UAE-based souKare help you grow beyond your building and growing their raises US$400,000 in (current) borders in a three- enterprise over 15 years. seed funds. part guide.
76 Zeid Husban, founder and CEO, POSRocket
12 / ENTREPRENEUR.COM / August 2018
CONTENTS AUGUST 2018
62 43 ‘TREPONOMICS: BlackBerry KEY2 PRO Boosting business Ian Golding, a Certified Customer Experience Professional, writes on ways to turn customer happiness into a sustainable reality for your enterprise. 52 ‘TREPONOMICS: PRO Overcoming lawyerphobia Ahmed Arif, Principal, Support Legal, on why it’s 32 Ahmed Alkhoshaibi, Group CEO, KBW Investments imperative for startups to get proper legal support for their enterprises. 64 80 ‘TREPONOMICS: START IT UP: 68 PRO Q&A ‘TREPONOMICS: 42 Seal the deal Solving the social paradox SKILLSET TECH: Stefanie Fernandez, Head of Tech startup Calio, Shahzad Bhatti, founder, SHINY Sales Solutions – MENA at founded by entrepreneurs Co-Working Popup and #TamTalksTech LinkedIn, lists the top three Latif Baluch and Ramy Al Share This Space, lists six Gadgets and doodads that psychological barriers in Kadhi, is reimagining (and steps to make your pop-up you might’ve missed out on, sales (and how to overcome reinventing) the calendar concept a success. sourced by a tech aficionado. them). app. 72 ‘TREPONOMICS: PRO Leaving a legacy 36 Louise Koch, Corporate d3 Design Quarter Sustainability Director, Dell in Europe, Middle East and Africa, explains why your business’ success requires a sustainability- first approach. 60 ‘TREPONOMICS: PRO Thinking about how we think Marc Le Menestrel, Visiting Professor for Corporate Governance and Sustainability, INSEAD, Singapore, asserts that the key to business success lies in cultivating agility in decision-making.
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SUBSCRIBE EDITOR IN CHIEF Aby Sam Thomas [email protected] Contact [email protected] to receive CEO Wissam Younane [email protected] Entrepreneur Middle East every issue DIRECTOR Rabih Najm [email protected] CREATIVE LEAD Odette Kahwagi MANAGING EDITOR Tamara Pupic STARTUPS SECTION EDITOR Pamella de Leon FEATURES EDITOR Sindhu Hariharan PO Box 502511 Dubai, United Arab Emirates GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa P +971 4 4200 506 | F +971 4 4200 196 COLUMNIST Tamara Clarke For all commercial enquiries related to Entrepreneur Middle East EVENTS LIAISON Mark Anthony Monzon contact [email protected]
CONTRIBUTING WRITERS All rights reserved 2018. Suhail Al Masri Hany Fahmy Aly Louise Koch Opinions expressed are solely those of the contributors. Ahmed Arif Walid Fakih Marc Le Menestrel Entrepreneur Middle East and all subsidiary publications in the Shahzad Bhatti Stefanie Fernandez Heather Matranga MENA region are officially licensed exclusively to BNC Publishing in the MENA region by Entrepreneur Media Inc. Fida Chaaban Ian Golding Ekaterina Vasina No part of this magazine may be reproduced or transmitted in any Dr. Peter Diamandis AbdulMuttalib Hashim Sarah Willis form or by any means without written permission of the publisher.
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CAMBODIA CHINA INDONESIA MALDIVES MOZAMBIQUE PORTUGAL OMAN QATAR SRI LANKA THAILAND UNITED ARAB EMIRATES VIETNAM ZAMBIA EDITOR’S NOTE
Capital gains Musings on Mark Zuckerberg’s human capital hiring rule of thumb
’ve lost count of the number hosted by LinkedIn co-founder Reid of times we at Entrepreneur Hoffman, where he talked about Middle East have featured his hiring of Facebook COO Sheryl content explaining why you, as Sandberg, whom he acknowledges an entrepreneur, should have as having strengths that he himself the best of people working doesn’t possess- but that’s not I alongside you as you build up something that bothers him. “When a business. Of course, this is easier I look at my friends who were run- said than done- great hires often ning other good companies, the ask for great packages, and startups single biggest difference that I see don’t usually have the budgets in whether the companies end up to spare for this. But lately, I’ve becoming really great and reaching noticed a few situations where en- their potential, or just pretty good, trepreneurs, after they’ve somehow is whether they’re comfortable and managed to secure the right people really self-confident enough to have on board their enterprises, then go people who are stronger than them on to lose these individuals, as they around them,” Zuckerberg declares. find themselves unable to work well “I’ve adopted this hiring rule, with each other. which is that you should never hire More often than not, the reason someone to work for you unless you for such rifts can be drawn down to would work for them in an alternate what is, quite simply, a clash of egos universe. Which doesn’t mean that comes to figuring out the best people between the entrepreneur and the you should give them your job; but to hire, and how one should interact employee. While it’s a nice thing to just if the tables were turned and with them once they come onboard. say that you want to recruit people you were looking for a job, would It’s a lesson all leaders need to take “better than you” in your organiza- you be comfortable working for this to heart, especially when it comes tion, this means that you need to let person? I basically think that if the to their executive teams- and it can them take the lead (and thus excel) answer to that is ‘no,’ then you’re surely help push your businesses up in whatever they were hired to do- doing something expedient by hiring the ladder of success as well. and insecure leaders with overtly them, but you’re not doing as well as inflated senses of self might find this you can on that. There are all these hard to manage. However, getting things that Sheryl, for example, is past your ego is absolutely critical just much stronger than me at, and to getting your venture ahead- rest that makes me better, and makes assured that if you clip the wings of Facebook better. And I am not afraid the people in your enterprise, then or threatened by that- I value that. your business is certainly not going That’s what makes Facebook good.” to take flight, no matter how much Now, given recent developments, you may try on your own. while there’s a whole other discus- Aby Sam Thomas Facebook CEO Mark Zuckerberg sion to be had on whether Facebook Editor in Chief touched upon this topic in an epi- is “good,” I do believe that Zuck- @thisisaby sode of Masters of Scale, a podcast erberg is on to something when it [email protected]
18 / ENTREPRENEUR.COM / August 2018
IN THE LOOP
The program saw the sign- Ideas take flight ing of 27 Memorandums of Understanding between Government entities and startups partner up for the fourth companies and govern- cohort of Dubai Future Accelerators ment entities, aligned with the vision of H.H. Sheikh Mohammed bin Rashid unning under technologies: “Dubai Future ploying AI to support emer- Al Maktoum to establish- the “One Team Accelerators has become a gency response, while Dubai ing UAE and Dubai as the Co-Creating global platform and a mile- Municipality and Dubai global hub to build and grow the Future” stone event that reflects the Health Authority looked innovative solutions. It theme, the Dubai UAE’s keenness to promote into managing public health welcomed the participation Future Founda- global cooperation in order services using AI tools. The of a number Dubai govern- R tion (DFF) has to address future chal- Knowledge and Human ment executives including concluded its fourth edition lenges and introduce the Development Authority, RTA, H.E. Humaid Mohammed of the Dubai Future Ac- latest technology solutions Etisalat Digital, Smart Dubai Obaid Al Qatami, Chair- celerators (DFA) program. to today’s and tomorrow’s Office, du, Dubai Economic man of the Board of Dubai The nine-week program challenges, and help create Department and the Moham- Health Authority; H.E. Major was held at its headquar- a better future for all.” He med bin Rashid Al Maktoum General Abdullah Khalifa Al ters in collaboration with emphasized the importance Global Initiatives also looked Marri, Commander in Chief 12 government entities and of DFA’s collaboration with into future challenges for the of Dubai Police; H.E. Dawood 37 local and international the 12 government entities, startups to address. Abdulrahman Al Hajri, companies. As part of DFF’s saying, “The participating Startups that were a part of Director General of Dubai initiative, Dubai Future Ac- government entities re- the cohort included Intuitu Municipality; H.E. Mattar celerators seeks to enable viewed the latest innovations Analytics, an advanced ana- Mohamed Al Tayer, Chair- the collaboration of govern- in shaping the future that are lytics and big data startup man and Executive Director ment and private companies in line with the challenges offering analytics-based of the Roads and Transport with emerging technology that were announced, using solutions and AI-based Authority; H.E. Sami Ahmad companies. The program also artificial intelligence tech- asset management; Emarat- Dhaen Al Qamzi, Director launched a two-week student nology and digital transac- ech, part of the Investment General of the Department of training program, wherein 10 tions systems that keep up Corporation Dubai, an online Economic Development; H.E. students experienced work- with the Fourth Industrial technology solutions and Saeed Mohammed Al Tayer, ing with government organi- Revolution.” consulting company; Votek, Managing Director and CEO zations and tech companies- The government establish- a software company spe- of Dubai Electricity and a first for the DFA in a bid ments evaluated a range of cializing in Arabic speech Water Authority; H.E. Major to empower entrepreneurial future challenges in strategic recognition solutions and General Mohammed Ahmed youth in the country. sectors such as the security artificial intelligence; ISnSC, Al Marri, Director General Saeed Al Falasi, Executive sector, occupational safety, an information security R&D of GDRFA Dubai; H.E. Dr. Director for Projects of the infrastructure, health, trans- house specializing in protect- Aisha Bishr, Director General Future at DFF, commented portation, communication, ing information and data; Smart Dubai; Abdulla Al on how the program reflected knowledge, humanitarian, and Smart IoT, a startup Mane, General Manager of Dubai’s enthusiasm in pro- and others. Dubai Police providing IoT services such Etisalat - Dubai Region; and moting science and support- looked into the challenge of as controlling, monitor- Osman Sultan, CEO of du, ing talents, reinforcing UAE reducing the rate of violence ing, reacting and real-time among others. as a global hub for innovative by 25% in 2021 and de- reporting. www.dubaifutureaccelerators.com
The fourth cohort of Dubai Future Accelerators
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AHMED KHOURI PATRICK CHALHOUB NAJLA AL-MIDFA MANAGING DIRECTOR, CO-CEO, CEO, SHARJAH ENTREPRENEURSHIP UNION PROPERTIES CHALHOUB GROUP CENTER - SHERAA
AHMED ALKHOSHAIBI MOHAMMAD SAEED AL-SHEHHI JEAN-MICHEL GAUTHIER GROUP CEO, KBW INVESTMENTS CEO, DUBAI DESIGN DISTRICT – D3 CEO, OLIV
22 / ENTREPRENEUR.COM / August 2018 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
Ahmed Khouri, Managing Director, AHMED KHOURI Union Properties MANAGING DIRECTOR, UNION PROPERTIES by ABY SAM THOMAS “We are committed to good governance, transparency, and making profits for our stakeholders, while exploring new business opportunities.”
company that that can be referred to as the “ doesn’t innovate basis for all of the actions that in its operations Union Properties has taken and products in the recent past. One of its cannot survive in diversification measures was the marketplace to form a new investment arm Anowadays.” With in October 2017 called UPP a declaration like that, Union Capital Investment, which Properties Managing Director specializes in direct and indi- Ahmed Khouri makes it clear rect real estate investments, that he is not someone who and will provide in-house ex- believes in sticking to the pertise to support the group’s status quo. And for someone long-term strategy. Earlier who works in the real estate this year, Union Properties space of the UAE, this might sold off its entire stake in With respect to the road at the heart of our communi- seem like a hard principle to utilities company Emicool to ahead for the business, Khouri ties,” he explains. “We are abide by- but then again, as Dubai Investments for a sum says that Union Properties guided by our core principles Khouri’s statement notes, re- of AED500 million, while its will continue playing to of quality, service, creativ- inventing and rethinking how facilities management subsid- its strengths, with its real ity, attention, integrity and business is done is the only iary ServeU was in the news estate arm remaining a key diversity to delivery for the way to move forward in the in June for aiming to launch component for the company’s people who buy units in our current economic landscape. an IPO in September. Union development today, and in the developments, who live in our This is especially true for an Properties also announced in years to come. “We focus on communities, and who invest enterprise like Union Proper- January that it had acquired a investing in viable ventures in our company.” ties- the three-decade old 5.7% stake in Egyptian devel- and continue to do what As for his own personal company has had to grapple oper Palm Hills Development, we do best: build top qual- strategy when it comes to with tough market conditions, which signaled its renewed ity communities that cater managing an enterprise like which saw it, in 2017, report interest in moving into new for different segments and Union Properties, Khouri a net loss of AED2.3 billion, markets. And it does look like lifestyles in Dubai,” Khouri is someone who believes in alongside a profit of AED211 measures like these did have says. “The real estate and leading from the front. “There million. Of course, this sce- an impact- Khouri noted that developments arm of the is no substitute for a leader nario demanded action, and profits amounted to AED180 business remains the big- rolling up their sleeves, and that led to Union Properties million in Q1 of 2018, com- gest contributor, as a result getting personally involved, making a concerted effort in pared to AED42.5 million in of the high demand on our when significant financial and turning things around for the the same period, a year earlier. projects, which is known in symbolic value is at stake,” he business. “2017 was a turning “Union Properties is entering the market for its high quality. notes. But Khouri also makes point in Union Properties’ a new chapter of success with Having said that, the service it clear that a strong, moti- work plans,” Khouri remem- a new management vision and industrial sector is also vated team is essential for any bers. “The new board team and internal restructuring, performing very well today.” enterprise to get ahead in the conducted a thorough review and a new growth plan with Note here Khouri’s stress game- and it’s up to its leader- of the organization strategy, clear strategy across all our on quality when it comes to ship to make sure the people and as a result, a renewed subsidiaries and operations,” Union Properties’ offerings: onboard are inspired enough emphasis has been put on Khouri says. “We are com- this is, according to him, a key in that regard. And why is do- developing recurring revenue mitted to good governance, component for the brand’s ing this so important? Khouri streams for the group, to pro- transparency, and making current -and future- standing points toward human nature vide a stable, long-term, and profits for our stakeholders, in the market. “Our commit- to explain: “People will go balanced business model.” while exploring new business ment to quality and our focus to extraordinary lengths for It is thus this new strategy opportunities.” on liability will always remain causes they believe in.” IMAGE COURTESY UNION PROPERTIES UNION COURTESY IMAGE
August 2018 / ENTREPRENEUR.COM / 23 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
more than 12,000 people from 100 different nationalities. It is comprised of over 125 companies, affiliates and joint ventures. “When you face ad- versity, there are many nega- tive elements, but positive ones as well,” Chalhoub says. “Perhaps these movements assembled us closer together. I would say that there was more unity among us, created by that adversity, which put us together to fight against it.” These days, however, Patrick Chalhoub seems to be fighting the same battle, yet not across geographies, but between the online and offline worlds. Before we delve into details of the group’s plans to digitally Patrick Chalhoub reinvent itself, Chalhoub gives at the 2018 a detailed account of its past. Chalhoub Group “Since inception, our business annual seminar has been an original business, which means that it was conceptualized and founded My tolerance is then gener- by my father in 1955, after he ously rewarded with sufficient worked in a retail store for PATRICK CHALHOUB time, lengthy explanations, two years,” he says. “At that CO-CEO, CHALHOUB GROUP and many more smiles from time, he felt that the Syrian Chalhoub. market was too small for by TAMARA PUPIC In a similar fashion, the luxury products, and that he immense fortunes of the either had to diversify or to “From being brand-focused, we have Chalhoub family might have expand regionally, and thus he not been amassed without saw opportunities in the Gulf. become customer-focused. them belatedly altering their Because of this regional view Rather than having our customers tactics and going full steam from the outset, we’ve always coming to us, we are now going to them.” ahead thereafter. In 1965, a felt that if the business stops decade after opening their or slows down somewhere, first international boutique it will continue to grow in he main rule about the sons of founder Michael Christofle in Damascus, the the rest of the region. Also, I interviewing Chalhoub- with black leather economic uncertainty in Syria would say, the business was of Patrick Chalhoub, sofas and side tables on each urged Michael and his wife, a size which was more easily the co-CEO of the side, framed by elegant stand- Widad Chalhoub to move their managed. It was a small en- Chalhoub Group, a ing lamps, and surrounded by business to Beirut. Another terprise with less complexity, luxury retail giant bookshelves stocked with dec- decade later, in 1975, the fam- maybe less opportunity as Tfounded in 1955 in orative art pieces, a collection ily relocated to Kuwait due to well, but due to less complex- Damascus, is not to run out of of business award trophies, the civil war in Lebanon. By ity, we felt like it was one big patience. and books on leadership, re- the time Iraq invaded Kuwait family.” I am in what is called “The tail, and startup success. The in 1990, the two Chalhoub Chalhoub continues, “When Library,” which serves as a latter entertains me for nearly brothers had been actively we moved from Syria to waiting room at the Group’s half an hour, after which I am involved in the family busi- Lebanon, I was very young, headquarters in Dubai Design joined by the Group’s Com- ness, and, just before the war but when we moved from District (d3). The expansive munications Director. Then, started, decided to move its Lebanon to Kuwait, I had just room includes two almost Patrick Chalhoub storms in, operations to Dubai. Today, turned 18 at the time. I was identical sitting areas -the panting and apologizing for Chalhoub Group operates more mature, and I remember business is jointly run by keeping me waiting, with more than 600 retail stores that we moved for six months brothers Patrick and Anthony, his face breaking into a grin. in 14 countries, employing only. We had a small office in IMAGE COURTESY CHALHOUB GROUP COURTESY IMAGE
24 / ENTREPRENEUR.COM / August 2018 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
always ready to advise young usually quite an easy ride, whether somebody is or is “SOMETIMES YOU entrepreneurs. He is a Board because we have all lived in not a good manager, to sell Member of Endeavor UAE, the the same home, we have seen in an intelligent manner, and HAVE TO SHRINK IN local chapter of the New York- the business growing with not to go against each other, based high-impact entrepre- the first generation, and we and so on. The third rule is ORDER TO GROW, neurship platform Endeavor. have accompanied them on that before working in the As a member of the Dubai their journey since we were family business, they should YOU HAVE TO Design and Fashion Council, born. In our family business, do something else. Both he works on nurturing young we are only two brothers, and education and experience are PUSH THROUGH talent in order to position both of us have been engaged important to us, meaning that Dubai amongst the 10 global [in the business],” he says. it is important that our chil- CONDITIONS THAT cities in fashion and design. “From the second to the third dren are business-minded and Chalhoub takes a particular generation, it is usually a street-smart at the same time. ARE NOT THE BEST.” interest in the young –Genera- very critical moment for all Lastly, it is about making sure tion Y (born between 1975 and family businesses, because, that people who haven’t lived Kuwait, which was actually 2000) and Generation Z (born firstly, the family business is under the same roof but have a workshop for spare parts. I in 2000 and onwards)– who, usually more established. For even lived in different coun- moved to France to continue he says, have been redefining example, we went from 100 tries and have gained different my studies, but the rest of not only the region, but his to over 12,000 people, and it perspectives are able to work my family moved to Kuwait, business as well. According to has become another kind of together.” >>> and they were living in that a 2016 UN report, they now company, meaning that strong office. At night, they would form a large and active por- governance has been put in turn sofas into beds, and the tion of GCC consumers: 52% place. That is important, but ASK THE EXEC office desk into a dining table. of the population in Saudi it removes the soul of the PATRICK CHALHOUB, There were eight or nine of Arabia, 51% in Oman, 49% in family business a little bit. In CO-CEO, CHALHOUB GROUP our colleagues with my family Bahrain, 47% in Kuwait, and our case, since the business at the time. One of the reasons 40% in the UAE. “I’ve really has become so complex, it is Given your experience in the for living in that office was noticed a big wind of change important to have clarity with business realm, what would be because they thought it would in the region,” Chalhoub says. the third generation. So, we your advice for entrepreneurs be only temporary, however, “This young generation who, have established a few prin- today? our headquarters stayed there at one point in time, I’m sorry ciples for them.” “Patience and persistence. A lot for 15 years. Of course, not in to say it, used to be spoilt, Chalhoub then goes on to of entrepreneurs are very impa- the same office. Then, when take things too easily, and stay list out these guidelines. “The tient and tend to abandon their the Iraqi invasion happened in their comfort zone, is today first one is that there is no ob- projects very quickly. Sometimes in Kuwait, my brother and I extremely engaged. It makes ligation to join the business, things take more time, so they took the decision to move to me so happy to say that they but in order to do so, you need to be persistent. Not to be Dubai, but we first stayed in have plenty of ideas and want must want it, and you must patient forever but also not to Paris, and we repeated what to work on them. They went earn it. The second one is to change your course too quickly. our parents had done, but in from being passive people who say that even if you are not in We live in a collaborative world, a different way. We invited wanted to live on the glory of the business, you have a role so it’s great to have mentors, our colleagues who had also their parents, to people who of the owner, which is differ- spend time with them, seek fled Kuwait to come, live, and are challenging everything in ent from the role of the man- their advice, but you sometimes work in our house in Paris. We the world.” ager. In my and my brother’s need to listen to them. You don’t also believed it would be only One of them is his son case, that was never a ques- necessarily need to follow their temporary. Then we decided Michael Chalhoub, whose tion, we were immediately advice but at least listen to it. to move to Dubai because own break in business came both the owner and the man- Collaborate rather than trying to it was more practical. But very early when he founded ager. But with the size and the reinvent everything yourself. these two stories show that Sport360, an online sports governance structure that we Lastly, they need to keep in sometimes you have to shrink portal in English and Arabic. have today, our children can mind that there is a difference in order to grow, you have When it comes to the often separate these two roles. They between starting up and scaling to push through conditions sensitive topic of succession can inherit shares, without an up your organization, which is that are not the best. It also in family businesses, Chal- obligation to be in the busi- that when scaling up, you need reminds me of the startup houb says that the transfer ness. We have also established other people and certain compe- mentality that you have to from the second to the third some rules in case they decide tences that you don’t have. This work day and night for some- generation poses many to disinvest. My brother and is an area where entrepreneurs thing to pick up.” challenges that they have I made sure to teach them get uncomfortable because they In the region’s startup already been preparing for. how to be good owners, which are used to doing everything on circles, Chalhoub is one “From the first to the second means to obey strict gover- their own.” of just a handful of greats generation, I would say, it is nance, to know how to assess
August 2018 / ENTREPRENEUR.COM / 25 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
Once the time comes, the “We changed our vision from being a third generation of the Chal- houb family will face their traditional distributor and retailer of luxury own set of market challenges, in the Middle East to becoming an agile some of which have already organization that places convenience at shaken the family’s business to the core. Over the past few its customers’ fingertips.” years, Chalhoub has spoken openly and often about the developing a professorship so that if their idea succeeds, group’s difficulties in adjust- in luxury brand management we will scale it quickly, but ing its traditional retail with the American University we wouldn’t fire people who brick-and-mortar model to of Sharjah (AUS). This year, failed, but learn with them,” the fast-paced digital world. the Chalhoub Group also Chalhoub says. “So, both In 2015, business growth was Patrick Chalhoub, entered into a joint venture failures and successes have co-CEO, stagnant. In 2016, the figures Chalhoub Group agreement with the UK-based become sharing moments. also didn’t paint a particularly Farfetch, which allowed the We invited our employees sunny picture- only 1% busi- Group to feature some of its to work on their ideas and ness growth, with the Group way that was sustainable for brands on the Farfetch online develop a proof of concept closing more and opening few- the future. The reason is that, platform. As part of the agree- with our support, giving them er shops than planned, trying at first, we felt that going ment, Chalhoub has agreed three months to move away to adapt its strategy to the digital was just a marginal to share its distribution and from their day-to-day work new consumption patterns part, whereas it wasn’t, it marketing services with the but remaining on the same arising from e-commerce and influenced everyone and Farfetch e-commerce platform salary and with the job being online retail growth. “Since everything. We couldn’t have and curate content in Arabic. secured after this period in July 2015, the economic only one part of the organiza- However, at the beginning the case that the idea fails. situation in the region has tion looking into this, as we of 2018, the Group set a When we launched Ibtikar, become more complicated,” had initially thought, but 900-day timeline to realize we had 150 employees coming Chalhoub explains. “The first we had to make sure that the digital transformation up with the ideas, three were big change was the drop in everyone was included. So, across its entire network. The chosen and they got three oil prices, which has shaken a from January 2016, it took process is split into 10 phases months to work on them. One lot of businesses and changed us six months to formulate of 90 days each, in order to has been retained and we will consumer habits. However, our digital strategy, but when measure progress more easily invest in it, one girl got three the second change was more we did it in July 2016, we and make timely adjustments more months to develop hers, important for me, and it was felt that it shouldn’t be only where needed. “We set up and one has been rejected. that our consumers changed digital transformation, but the seven guiding principles and We launched the Greenhouse a lot. So underneath this overall transformation of the changed our vision from be- being aware that we have economic slowdown there was organization, including the ing a traditional distributor not only big competitors, but another, much deeper change, change in our culture, our be- and retailer of luxury in the also startups that we feel and it was the shift in our haviors, our processes, and so Middle East to becoming an threatened by. So, we decided customers’ mindsets. Perhaps on. It was about making sure agile organization that places to consider those startups as this other phenomenon was that people made quick deci- convenience at its custom- our allies. For that reason, sped up due to the economic sions using digital technology ers’ fingertips,” Chalhoub the Greenhouse is open to slowdown, but nevertheless, in order to be relevant to the says. “So, from being brand- any entrepreneur in the tech in July 2015, it took us time consumers, who, at their end, focused, we have become retail space. We offer a work- to understand that there was were also moving very quickly. customer-focused. Rather ing space, mentorship, and so another challenge.” So, it wasn’t about going from than having our customers on, but what we have noticed “So, as soon as we felt the point A to point B anymore, coming to us, we are now go- that startups need most is not importance of being more because point B was continu- ing to them.” money but a ground to test digital, more connected, we ously changing.” Two important pillars of the their proof of concept. And took the first step, but it was, Once again, the Chalhoub Group’s 900-day makeover through our more than 600 I would say, late,” Chalhoub Group demonstrated that it is are Ibtikar, an innovation retail stores or 10 websites notes. “We should have taken never too late to amend its ap- lab for the Chalhoub com- they can do that- test their it before. Our first step was proach and catch up quickly. munity to foster new ideas, technologies. If it works, we to create a digital center in The Group has already been and the Greenhouse, an ac- scale it up with them through- order to enter the digital active in educating their em- celerator program for creating out the group. So, the message world. However, although we ployees on how to serve their technology-driven solutions for entrepreneurs and our felt that we were moving in customers better, such as es- to address the group’s brands’ team is that if you have an the right direction, we weren’t tablishing the Chalhoub Retail specific pain points. “We have idea, make it happen, and necessarily doing it in the Academy in 2007, and also decided to empower our team we’ll support you.” IMAGE COURTESY CHALHOUB GROUP COURTESY IMAGE
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NAJLA AL-MIDFA CEO, SHARJAH ENTREPRENEURSHIP CENTER - SHERAA
by TAMARA PUPIC “My mantra is simple: keep the passion alive, and get things done. The two go hand-in-hand, because without passion and commitment, the quality of the work suffers.”
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ust before this year’s supported, while building summer started, their prototypes and gaining news broke that initial traction in the market- Najla Al-Midfa had the three top performers last been promoted to year made over US$80,000 the position of Chief in sales revenue. Additionally, J Executive Officer of 30 startups have graduated the Sharjah Entrepreneurship from Sheraa’s seed and Series Center (Sheraa), a launch pad A stages, having raised over for the UAE’s aspiring and es- $12 million in investment to tablished entrepreneurs, and date. These startups continue a subsidiary of the Sharjah to generate over $8 million in Investment and Development annual recurring sales, and Authority (Shurooq). In be- have also created jobs for over tween many genuine messages 100 employees. of congratulations spreading Al-Midfa puts much of the American University of Shar- across social media, there success down to the backing “THE ECOSYSTEM jah and University of Sharjah. seemed to be some confu- of the Sharjah government, “Also important is ensuring sion over what her job title which has allowed her team CANNOT THRIVE that we are contributing to had been until then -it was the freedom to experiment cultivating an environment General Manager- as people with the offerings in their WITHOUT PASSIONATE, that supports creativity and had become quite used to wit- programs, taking the time to divergent thinking in Shar- nessing Al-Midfa going above analyze where the gaps in the CREATIVE, DETERMINED jah,” she says. “To do this, it and beyond the call of duty. ecosystem lie, and how best has been necessary to engage This by itself provides the to fill them. Sharjah itself, as PEOPLE PAVING THE with stakeholders across aca- crucial insight into Al-Midfa’s one of the UAE’s more ambi- WAY, AND THOSE ARE demia, government, and the approach to her work -novel, tious emirates, does offer a private sector –in addition to hands-on, and no-nonsense- solution for one of the biggest EXACTLY THE TYPE OF entrepreneurs, of course– and as well as the effects it has hurdles entrepreneurs face aligning them around Sheraa’s brought about in her sphere -keeping costs down, and PEOPLE SHERAA SEEKS mandate. For Sheraa’s impact of influence- discernible, hiring the right people. Go- to be truly scalable, I am con- profound, and lasting. ing forward, Al-Midfa says, TO ATTRACT.” stantly on the lookout for op- In January 2016, Al-Midfa it will be all about ensuring portunities to refine Sheraa’s launched Sheraa –meaning consistency. “We know that she says, the main challenge strategy to pursue geographic “Sail” in Arabic- under the building an ecosystem takes startups face is market access. and programmatic expansion patronage of H.E. Sheikha time, especially when one “Sheraa seeks to change that opportunities, while estab- Bodour bint Sultan bin must also instill an entrepre- by partnering with different lishing a financially sustain- Muhammad Al Qasimi, neurial culture, and so we stakeholders to cultivate a co- able model to support these Chairperson of Shurooq, at have worked to perfect our operative, supportive ecosys- growth aspirations.” the American University of programs and continue to run tem that helps startups grow,” The Sharjah Entrepreneur- Sharjah. In just over two them every year,” she says. Al-Midfa explains. “One way ship Festival (SEF), a two-day years, the Sheraa team has “If there are elements that we do this is through our annual festival that brings inspired a loyal community do not quite work, we change Supplier Matchmaking Day, together different stakehold- of over 6,000 entrepreneurs, them. We have always been which has had resounding ers to network and inspire regularly hosting public work- open to feedback from our success thus far. We held further innovation, has been shops and events with over stakeholders, especially our our first event last April, another crucial vehicle for NAJLA AL-MIDFA 300 local and international entrepreneurs, and this has under the Arab Supply Chain growing Sheraa’s community speakers. Its main activity -a been instrumental towards Impact Initiative, and had 16 and expanding its reach to full-stack entrepreneurship our progress.” MoUs between participating the wider ecosystem. Over program catering to startups Al-Midfa opines that startups and government and 2,000 entrepreneurs, inves- at all stages: pre-seed, seed, the UAE as a whole has corporate entities signed on tors, mentors, and ecosystem and Series A- has produced vastly improved its business the day.” Al-Midfa attributes supporters attended the first even more spectacular results. climate, having adopted much of Sheraa’s success rendition, held in November At the pre-seed stage, Sheraa entrepreneurship-friendly also to their local and inter- 2017, which featured over 60 has helped almost 200 aspir- measures, including increased national partners, including inspirational talks with 150 ing entrepreneurs develop licensing opportunities, Air Arabia, Bee’ah, Crescent local and international speak- and validate their business easing the visa process, and Enterprises, Sharjah Media ers. The success and impact ideas. Of these, more than mobilizing full support for the City – Shams, and Sandooq of this event and other Sheraa 50 have been incubated and private sector. At the moment, Al Watan, as well as the programs led to the entity >>> IMAGE COURTESY SHERAA COURTESY IMAGE
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Sheraa has a loyal community This could mean improving of over 6,000 entrepreneurs, an existing model or creating ASK THE EXEC attending their public workshops and events with a completely new product or NAJLA AL-MIDFA, CEO, over 300 local and international service, but if it’s bettering SHARJAH ENTREPRENEURSHIP speakers. the current iteration and our CENTER - SHERAA society, then it is innova- tive.” What are your five tips for To Sheraa’s startup found- entrepreneurs to build a ers -future leaders of their sustainable business? respective industries- Al- Midfa offers a special piece 1. BUILD A PASSIONATE TEAM of advice: their assertiveness (AND EMPOWER THEM) “Your Patrick Chalhoub co-CEO, must not give way to plain team is one of the biggest invest- Chalhoub Group stubbornness. “First and ments you will make. Hiring the foremost, they must believe right talent, and trusting them to in the organization’s mis- deliver without micromanaging, winning the Entrepreneurial sion, and they must trust is vital for the success of your Ecosystem Development “WE HAVE ALWAYS BEEN OPEN the team they have chosen to company. However, a light touch Award at the 2017 Enterprise TO FEEDBACK FROM OUR help achieve it. They must be does not mean you should be Agility Awards, presented by STAKEHOLDERS, ESPECIALLY confident and able to assert afraid to let go of someone who’s Entrepreneur Middle East. themselves both internally not performing.” With the stage now getting OUR ENTREPRENEURS, AND and with external stakehold- set for the 2018 edition of THIS HAS BEEN INSTRUMENTAL ers, in order to build the 2. KNOW YOUR BUSINESS SEF, Al-Midfa credits all of TOWARDS OUR PROGRESS.” company’s reputation as INSIDE OUT “Be aware of all the Sheraa’s successes and en- being bold and true to their inner workings of your startup. deavors so far to her 15-per- ing businesses, she bases her word. However, a good leader Learn to manage your costs, man- son team who, she says, are decisions on the quality of must have a certain degree of age your staff, and put policies young, high-performing, their idea, its scalability and empathy and open-minded- in place that ensure everything passionate go-getters and potential for success, as well ness, as well as the ability to runs smoothly. Also, know when a believers in Sheraa’s mission as its ability to disrupt the think flexibly. Essentially, all project just is not working out, and and in the power of human market. Al-Midfa adds, “We the traits that make a good learn to let it go.” potential. “As the CEO of want to encourage entrepre- entrepreneur tend to make a Sharjah Entrepreneurship neurs to come up with mar- good leader.” 3. JOIN A SUPPORTIVE Center, my main role in- ket-worthy solutions that are We end our interview COMMUNITY “Being an entrepre- volves curating the culture in line with their passions taking one more look back, neur can be incredibly lonely. It is of not only our team, but and what they have expertise and, in hindsight, there is so important to join a community also the entrepreneurial in, rather than just what they no matter for regret when it of fellow entrepreneurs, through community as a whole,” she think is ‘trending.’ At the comes to Sheraa’s journey so programs such as Sheraa’s, so explains. “The ecosystem end of the day, we look for far. “I am incredibly proud of you have people who can encour- cannot thrive without pas- truly high-growth startups how far we have come, and I age and support you through the sionate, creative, determined that are transforming the do not think I would do any- ups and downs of running your people paving the way, and entrepreneurial landscape. thing differently,” Al-Midfa business.” those are exactly the type However, I do believe the concludes. “However, given of people Sheraa seeks to word innovation is overused, the pace of our progress, I 4. DON’T LOSE SIGHT OF YOUR attract.” but the overuse does not would want to remember to MISSION “It can be easy to get Sheraa encourages startups necessarily invalidate its im- slow down and appreciate distracted, whether by a new proj- in five focus areas: travel portance- rather, it points to our achievements and savor ect, a new contract that doesn’t and tourism, sustainabil- the fact that everyone knows our successes, to ensure we quite align with your mission, or ity, social enterprise, the it is something that is vital are consistently and sustain- a new commitment. Learn to say creative economy, and to encourage, but they do not ably growing. We are in this no to the things that detract from Emirati innovation. As a fully understand what it is, for the long haul, and there your core mission– that is how whole, however, it remains or how to do so. Instead, they are no shortcuts to building you ensure long-term growth.” industry-agnostic, because tend to assume that anything an ecosystem- it takes time all sectors have room for related to ‘tech’ or following and commitment. My mantra 5. HAVE FUN “If you’re not pas- innovation, Al-Midfa says. In the latest entrepreneurial is simple: keep the passion sionate about your business, it startup founders, she looks trend is what’s innovative. alive, and get things done. will show, and it will reflect in your for passionate, driven, and Entrepreneurial innovation The two go hand-in-hand, work. Have fun, enjoy what you do. knowledge-hungry people. is, in its simplest definition, because without passion and But also know when it’s time to When it comes to their fledg- making something better. commitment, the quality of take a break. Burnout is very real.”
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Ahmed Alkhoshaibi, With KBW Investments op- Group CEO, KBW Investments erating in what is arguably a heady mix of sectors, Alkhos- haibi admits to the challenges involved in leading such a portfolio group, but also adds that adhering to a few key principles has helped him manage the task well all the same. “Running a company with many different segments that all require analysis in decision making is probably one of the most challenging things anyone will ever do,” Alkhoshaibi says. “Being detail-oriented is extremely important, whether working with small or large amounts of capital, and the bigger the bid, the pickier you need to be. That isn’t to say you need to micromanage every single facet of the business, but you need to know your books. If you don’t know your numbers, you’re headed for difficulties quite quickly. What I consider with a vision and a strat- to be absolutely essential to AHMED ALKHOSHAIBI egy to support that vision growth is the recruitment of is certainly important, but tier one talent. Many times, I GROUP CEO, KBW INVESTMENTS having that strategy tested in have made note of exceptional the market and seeing such people, only later to have by ABY SAM THOMAS a strong result in so short a offered them a role when the time vindicated the significant situation arose. Don’t ignore “Running a company with many different efforts that our shareholders these exceptional people in segments that all require analysis in and staff had put in to get the market, and do establish a decision making is probably one of the most this project off the drawing relationship, as later on, they board. In a span of 12 months, might be the key to the next challenging things anyone will ever do.” Raimondi has launched three expansion level you are look- new products applying Silicon ing to undertake.” s the Group Khaled bin Alwaleed bin Talal Valley-type approaches like Of course, it’s one thing CEO of KBW in 2013, KBW Investments UX and UI that have never be- to keep an eye out for good Investments, has managed to steadily fore been used in that sector. talent- but Alkhoshaibi adds Ahmed make its mark in the region’s Arcadia Engineering recently that KBW Investments has Alkhoshaibi business landscape, thanks began work on Bucharest’s also made it a priority to make oversees a to the various enterprises new IKEA, a landmark for the sure the best come to it as portfolio group under its helm carving out company, and also developed well. “We are flooded across A whose member successes of their own in their detailed plans as the general every tier of the business with companies operate in a di- respective industry sectors. designer of an Olympic-level people who are looking to join verse range of sectors, which “From a personal perspective, skating rink, adding to its our company,” he notes. “One include property (ARADA), I was extremely proud when portfolio of high-level sport- of the reasons we are able to construction (Klampfer Elec- ARADA’s first project, Nasma ing facilities. Our mechanical, attract quality talent is our tro Mechanical Contracting Residences, sold out its first electrical and plumbing communications schema. (KEMC)), manufacturing (Rai- phase in a little less than a (MEP) enterprise, KEMC, has When you share news regu- mondi Cranes), engineering month,” Alkhoshaibi says, as showed so much promise, larly, transparently and across (Arcadia Engineering), finance he recalls the achievements that we recently acquired the multiple mediums, including (Crestmount Capital), and KBW Investments currently shares of one of the founding social media, you gradually more. Founded by HRH Prince has to its credit. “Coming up partners.” become known in the market.
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Communicating responsibly Given the state of the mar- can help you to attract tier “BEING DETAIL-ORIENTED ket today, new enterprises ASK THE EXEC one people to your organiza- considering starting up in AHMED ALKHOSHAIBI, GROUP CEO, tion, despite not having large IS EXTREMELY the region may feel like the KBW INVESTMENTS budgets, and other add-ons IMPORTANT, WHETHER environment is not particu- What are your five tips for entrepre- like stock options.” But what larly favorable for them- but neurs to achieve success with their about the oft-repeated com- WORKING WITH SMALL Alkhoshaibi says it’s all a enterprises? plaint that, well, good people matter of perspective. “There don’t come cheap, and, as a OR LARGE AMOUNTS OF is never going to be a perfect 1. EMPOWER SENIOR STAFF TO MAKE result, it’s hard to keep them CAPITAL, AND THE BIGGER time to start a business,” he DECISIONS “If you cripple your senior around? “Mitigating salary declares. “Many products staff, you will end up becoming a concerns can be as easy as THE BID, THE PICKIER taken to market are ahead of one-man show. There is strength negotiating vacation times, trend, and many, similarly, in numbers, allowing respective premium health packages, and YOU NEED TO BE.” are behind trend. Both of team members to draw on different ensuring that there is room these scenarios are common knowledge bases and skillsets. for upward mobility within again, for an enterprise driven and carry high levels of risk. Crippling your team’s decision-making the organization,” Alkhoshaibi by the entrepreneurial vision The essential questions to ability leads to inertia, meaning replies. “Retention and re- of its founder and Chairman ask when deciding whether nothing gets done until you as the cruitment are both addressed Prince Khaled, it shouldn’t or not you should go forward founder can sign off.” by the previous points; how- be a surprise to learn that it’s with your startup are not ever, in the case of retention, keen on employing innovation about timing; they are more 2. ADVOCATE FOR WORK-LIFE acknowledging exceptional in all that it does as well. But about market fit. I believe the BALANCE ACROSS ALL LEVELS OF work and rewarding employ- in an era where entrepreneur- match of location and service YOUR COMPANY “Startups often do ees on a timely basis are both ship and innovation have offering are more important the 24/7 work mode, and consider it as critical components, and will almost become buzzwords as benchmarks of success.” business as usual. This is a fallacy; all have a distinct impact on your of sorts, Alkhoshaibi is clear And for those of you seeking that will do is generate discontent, dis- bottom line. Replacing strong that his enterprise needs to be motivation to go ahead with traction, and a run-down organization.” team members is expensive, built up on the true meanings your entrepreneurial ideas, and again, like any other of those terms. “Every busi- Alkhoshabi points toward 3. ENSURE THAT YOU HAVE A business scenario, you need ness finds it desirable to be the past to look toward the MARKETING BUDGET “Startups often to consider opportunity cost. associated with the intrepid future. “There are many push marketing and communications In one of our companies, Rai- life of an entrepreneur, but rehashed stories of products to the wayside. Where there is no mondi Cranes, we have em- what’s often forgotten is that have been successful marketing, there is no lead generation, ployees who have an invalu- the day-to-day struggle of in the past three years but and therefore, there are no custom- able storehouse of knowledge mobilizing a startup,” he were rejected by some of the ers. Reaching profitability is directly that exceed 20 years of manu- says. “That said, innovating world’s greatest investors a impacted by your brand awareness facturing heritage. Replacing in a larger organization, even decade ago,” he explains. “So, quotient.” these key loyal staff members at the conglomerate level, is the questions you should be is not only impossible, it often just as -if not more- asking are: how much com- 4. BUILD RELATIONSHIPS “Your ven- deprives future employees challenging, because you are petition do you have? What dors and your clients are more likely from learning knowledge that dealing with layers of approval is your USP? Are you able to to support you with premium budgets would otherwise be lost.” and bureaucracy. There is gain a sizeable market share, and business allocation if you have always room for innovation. and if so, how? If there are 10 a strong relationship. Relationships, The label of what is and what other companies with greater while not directly quantifiable, will isn’t innovative often comes resources and stronger infra- both save and generate money in the down to clever marketing and structure, then you must have long run.” strong communications. Some a differentiator that will en- of the least innovative but able you to generate traction. 5. SERVICE IS AN ONGOING CRITERION most stable entities are con- These questions hold true FOR SUCCESS “After you’ve made the sidered innovative, when they across the many continents sale or sealed that deal, your service are actually just using a tried in which we at KBW Invest- levels are just beginning. Oftentimes, and tested business model. In ments operate, and they can companies make the mistake of ne- Ahmed Alkhoshaibi, Group CEO, KBW Investments the current economic climate, be applied across a variety of glecting existing or past clientele. This innovation can take on the sectors. Market need and how goes back to both relationship and For an organization of its meaning of being able to con- well you answer that need is reputation management. There is op- scale, KBW Investments may tinue to drum up new revenue always the essential element portunity cost in ignoring commercial not seem like an enterprise channels, consistent commer- that needs to be examined service that goes over and above what that’d work with a startup- cial activity, and maintaining prior to investing your capital is actually laid out in the contract.” like atmosphere, but then strong operating capital.” in new venture.” IMAGE COURTESY KBW INVESTMENTS KBW COURTESY IMAGE
August 2018 / ENTREPRENEUR.COM / 33 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
Jean-Michel Gauthier, platform, which today has CEO, Oliv “THE FUTURE BELONGS TO more than 1,000 businesses –ranging from startups to FAST-MOVING, CUSTOMER corporates- using it to fill CENTRIC STARTUPS, AND their talent needs. “In terms of impact, we’re very proud SMES THAT ARE ABLE of the 3,000+ placements (internships and full-time TO CAPITALIZE ON THE graduate jobs) we’ve been able NEEDS OF, AND DELIVER to facilitate to date, and help young people in the region DIFFERENTIATED VALUE start their careers in organiza- tions like Careem, Coca-Cola, TO, THE MARKET.” Emaar, Samsung, and many more,” Gauthier says. “The ac- in the Arab world, and that’s tivity and engagement on the the mission that Oliv remains platform is up to 1,000+ em- rooted on. “Our focus in the ployer-candidate interactions early days of Oliv was always (such as interview invitations) on building the right team, being initiated monthly.” And and fostering an impact- the work that Oliv has been driven culture,” Gauthier says. doing hasn’t gone unnoticed. “Whilst our platform was Besides securing a slew of pretty basic in the beginning, awards and accolades over we managed to hire talented, the years (it won the Digital hard-working people who Startup of the Year title at were completely aligned with Entrepreneur Middle East’s our vision of defeating youth Enterprise Agility Awards in unemployment in the region. 2016), Gauthier’s company With this we were able to was also the recipient of the hit the market early with an first disbursement of funds JEAN-MICHEL GAUTHIER MVP and start offering a solu- made by the AED2 billion CEO, OLIV tion. Today, we tenaciously Mohammed Bin Rashid In- pursue our North Star metric: novation Fund, an initiative by ABY SAM THOMAS number of placements. That’s that has been conceived and our value driver. Defining sponsored by the UAE’s Min- “We’ve focused on the things larger organizations this as early as we did in the istry of Finance. can’t always offer: an entrepreneurial work lifetime of the company meant Oliv’s innovative offering is environment, empowerment, meaningful work, we have been able to connect what has allowed the startup a learning-based culture, and a dynamic, everything back to a single to achieve all that it has so close-knit team.” important goal, which is a far- there aren’t many other very powerful motivator for enterprises that can claim to the team.” showcase that kind of inven- f you, as an entrepre- our product centricity from Oliv today declares itself to tiveness in what they do. And neur, could turn back the start, and build at a more be “the world’s fastest career Gauthier is cognizant of this time, what would you global scale in mind, at an platform experience built fact. “Innovation is definitely have done differently earlier point.” with the youth in mind.” As a buzzword nowadays,” he along the journey of One can unpack quite a lot a marketplace that connects says. “We see a lot of incre- your startup? For about Gauthier and Oliv from youth in the MENA region mental innovation, where I Jean-Michel Gauthier, this answer of his. For one, with leading employers in entrepreneurs improve exist- co-founder and CEO of the here’s an entrepreneur who’s a variety of industries, Oliv ing processes and solutions in Dubai-headquartered careers clearly fueled by his absolute aims to help students and new a few small ways. Depending platform Oliv (formerly conviction in what his startup graduates secure everything on the size and maturity known as InternsME), the offers, and the promise of from internships to part-time of the market, this can be answer is, well, not a lot. “I’d what it can do for the MENA and graduate jobs. In the years enough to build a business, do most of what we’ve done, region- Gauthier has always since its inception, Oliv claims but what excites me most, except much faster,” Gauthier stated that he started his to have screened more than and what I’d love to see more says. “A specific improve- company with an aim to 150,000 university students entrepreneurs strive towards, ment would be to increase reduce youth unemployment and fresh graduates for the are innovations that are a 10x
34 / ENTREPRENEUR.COM / August 2018 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
leadership starts with great communication,” Gauthier ASK THE EXEC says. “Being transparent and JEAN-MICHEL GAUTHIER, authentic are key, especially CEO, OLIV when inspiring a millennial team. This means being brave What are your tips for enough to let them know entrepreneurs wanting to find when something hasn’t gone success with their enterprises? right, or when you’ve made a mistake. It’s also important 1. COMMUNICATION MATTERS for leaders to be fiercely “Keep communicating- when accountable, to set high times are good and also when standards for themselves, times are bad. Silence and A scene from and to reflect the work ethic opaqueness from leadership the launch of Oliv they want embodied in the does not default to positivity in team. Training, motivating teams.” improvement over what’s is spent on the important and trusting your team to currently available. In other things: helping the team (any- get things done (without 2. ASK FOR FEEDBACK “Be open words, innovate, and build thing from providing feedback micromanagement) empow- to criticism, and continuously something that makes the old on work/plans, coaching, ers them to operate like develop yourself. This sets a way redundant.” And keep- helping with customers and owners. The best leaders are strong example for your team to ing this in mind, the region, deals), recruiting new talent, able to do this whilst making follow.” according to Gauthier, still and gearing Oliv up for inter- tough decisions with limited offers a minefield of opportu- national expansion.” Much information, under tight time 3. INVEST YOUR TIME IN HIGH nities today. “It’s definitely a like other leaders of repute, constraints, and are resilient LEVERAGE ACTIVITIES “Speak to good time to start a business Gauthier is insistent on his when things don’t go to plan.” your team members one-on-one, in the MENA. Every year our team’s integral role in the It’s a formula that has worked mentor them to find solutions to markets evolve, new oppor- success Oliv has seen so far, so far for Gauthier- and it’s problems, and gather information tunities present themselves, and that governs his attitude one that will surely stand him that helps you make better and more success/failure sto- towards them as well. “For in good stead as Oliv makes decisions for everyone.” ries become available to learn almost all businesses, finding its way into the future. And from. The future belongs the right team is the absolute yes, this is an enterprise you 4. TRAIN AND MOTIVATE “These to fast-moving, customer- make-or-break,” he notes. should keep an eye on- it should be amongst your daily, centric startups, and SMEs “For early-stage companies, definitely seems to be going ongoing initiatives. As soon as that are able to capitalize the challenge is in attracting places. you have team members ready on the needs of, and deliver the talent that has a lot of to train and motivate others, let differentiated value to, the other options available to “The challenge is in them.” market. There are many them from larger companies, attracting the talent opportunities in localized including better pay, more that has a lot of other 5. LOOK AFTER YOURSELF software, ‘productizing’ pro- stability and security, and ad- options available to them “Find time to take care of your fessional services, as well as ditional benefits. To overcome from larger companies, own mental well-being, grow within the large, incumbent this, we’ve focused on the including better pay, more your resilience, and reflect on industries which are also ripe things larger organizations stability and security, successes and failures.” for disruption- for example: can’t always offer: an entre- and additional benefits. “ banking, insurance.” preneurial work environment, From a leadership point empowerment, meaningful of view, Gauthier acknowl- work, a learning-based edges that running a startup culture, and a dynamic, close- requires a plethora of skills, knit team. The launch of our and his approach toward employee stock option plan it has evolved through the has been a major milestone in years. “As a startup CEO, you offering upside to reward and have to wear multiple hats recognize our team’s owner- and constantly shift gears, ship mentality, and long-term between being an entrepre- commitment to Oliv.” neur, innovator, fundraiser, This emphasis on the people problem-solver, manager, and in his team also explains mentor,” Gauthier explains. Gauthier’s interactions with A scene from “Today, most of my time them as their leader. “Great the launch of Oliv IMAGE COURTESY OLIV COURTESY IMAGE
August 2018 / ENTREPRENEUR.COM / 35 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
Ahmed Alkhoshaibi, Group CEO, Mohammad Group, a member of Dubai KBW Investments Saeed Al-Shehhi, Holding- is very much a grow- “OUR FUTURE ASPIRATIONS CEO, d3 ing (and bustling) ecosystem ARE TO CONTINUE that’s welcoming of inventive, innovative ideas. SUPPORTING THE GROWTH And for d3 CEO Moham- OF THE DESIGN INDUSTRY mad Saeed Al-Shehhi, the community’s development IN THE REGION, AND is the result of a collective, cooperative approach that TO PLACE UAE ON THE has set the tone for what it is MAP OF GLOBAL DESIGN today. “Firstly, it is the people who are at the heart of d3 that DESTINATIONS.” have given it the unique spirit that the district has become talent by providing a platform synonymous with,” Al-Shehhi where they can showcase says. “We have around 500 their skillset and works. We creative partners and retail- have supported homegrown ers in our 11 buildings, and events such as Dubai Design each of them have made our Week and Fashion Forward, creative community what it is which have spotlighted today. Collaboration has also emerging brands at a local and been key in the development international level. Our future of d3, from the way that we as aspirations are to continue a developer worked with the supporting the growth of the existing creative community design industry in the region, in Dubai to understand what and to place UAE on the map they wanted from a design of global design destinations.” district, to now where our Of course, d3 is well on its own creative partners col- way to doing just that- Al- laborate. Of course, none of Shehhi points out that he MOHAMMAD SAEED this would have been possible has been able to witness the without the vision of H.H. growth of a community that Sheikh Mohammad bin Rashid now stands at 8,000 people, AL-SHEHHI Al Maktoum, Vice President over 43 successful retail out- and Prime Minister of the lets, and around 500 business CEO, DUBAI DESIGN DISTRICT – D3 UAE, and Ruler of Dubai. partners, which include both Dubai Holding and TECOM regional SMEs and globally by ABY SAM THOMAS Group have also been a pivotal recognized brands. The com- part of the development of munity has also managed to “From a personal standpoint, I am a d3, from both an industry and garner quite a bit of interest corporate perspective.” in itself as well- d3’s hosting great believer in empowerment and With design being a key ele- of the annual Dubai Design trust, and with that, comes creativity ment on which d3 was built Week has led to more than and innovation.” (and named), Al-Shehhi says more than 70,000 people visit that the community has made the location over a period sure to never lose sight of this of five days, which in itself or an urban develop- munity that is “a home for the fact in terms of developing its provides a trove of informa- ment that’s been region’s creative thinkers.” own presence and brand in tion and insights for it to around in the UAE And just a walk through d3 the region. “At the center of further develop itself. “We for only a relatively is enough to make us believe d3 are our core values which are continually challenging short period of time, in this community’s premise- are to unite, create, and in- and innovating the way our Dubai Design be it with the whimsical art spire,” he explains. “There are business operates,” Al-Shehhi FDistrict –or d3, as installations that pop up at al- many designers and creatives notes. “It is important for us it’s perhaps more popularly most every corner, or with the within the region, and d3 to offer the best experience for known- does have the distinc- sheer range of entrepreneurial hopes to bring them together our customers and visitors. tion of having carved out a endeavors that have found a to inspire creativity and col- To do this we have to engage unique identity for itself in home here, it’s pretty evident laboration. We believe it is with them, and listen to the the Middle East as a com- that d3 –a project by TECOM important to promote local feedback they have to share.”
36 / ENTREPRENEUR.COM / August 2018 FOLLOW THE LEADER ENTERPRISE HEAD HONCHOS TALK STRATEGY, INDUSTRY-SPECIFIC TACTICS, AND PROFESSIONAL CHALLENGES
ASK THE EXEC MOHAMMAD SAEED AL-SHEHHI, CEO, D3
What are your tips for entrepreneurs wanting to find success with their enterprises?
1. SET GOALS “Set clear and realistic top-level goals, then start developing smaller goals (your strategy) that will help you achieve the larger goals. This will help you to keep track of your progress, and aid you in assess- ing priority tasks.”
2. NETWORK “Spend time con- necting with experts and other like-minded entrepreneurs in your industry or related indus- d3 Design Quarter tries. Listening to other people’s journeys, struggles, and suc- cesses is valuable information.” For those of us working in case, Al-Shehhi has tuned something Al-Shehhi advises or closely with the startup his leadership strategy in all wannabe entrepreneurs in 3. BE CREATIVE “Always try to ecosystem of the region, Al- accordance with the model the region to do as well- the push the limits of your thinking, Shehhi’s approach towards that d3 was built on. “From time to act is now, he says. and elevate your ideas.” developing d3 may sound a personal standpoint, I am “With all the big announce- quite similar to that of many a great believer in empower- ments for supporting SMEs 4. BE PASSIONATE “Follow your an entrepreneur wanting to ment and trust, and with in the UAE and in the region, passion, and love what you do.” keep their fledgling enter- that, comes creativity and specifically in Saudi Arabia prise ahead of the game at innovation,” he declares. and Egypt, I really believe 5. KEEP AN EYE ON WHAT’S NEXT all times. Al-Shehhi agrees Al-Shehhi believes that it’s time for entrepreneurs to “Stay on top of trends. Always with the comparison- in- business leaders today need start their business, and ride think of ways to differentiate deed, he refers to d3 as an to engage with and under- along the wave,” Al-Shehhi your brand from others, and be entrepreneurial venture by stand the priorities of all says. “I believe creative, in- innovative. Study your environ- itself, which means that it stakeholders, with the focus novative, and tech solutions ment, and your target audience.” too has had to deal with the remaining on reliably deliver- are the way forward.” Here’s challenges that come with ing business results. With hoping. these kinds of endeavors. the environment around us And yes, finding the right changing as it is, Al-Shehhi d3 Design Quarter people to come onboard d3 also notes that businesses was chief among them. “It need to have a proactive was important to find the approach towards these de- best resources to enable this velopments, and it thus falls project,” Al-Shehhi says. upon the leaders of these “We were a startup, and it enterprises to make decisions can be difficult for people with speed and conviction. to adapt to that mentality, “Sometimes, a wrong deci- when coming from an exist- sion can be better than no ing organization that has decision or direction at all,” established processes and he points out- a note that’s procedures. We looked for a worth taking to heart by all team that had the ability to you bosses out there. Making multi-task, and can adapt to the decision to move ahead change.” With that being the with their dreams now is IMAGE COURTESY D3 COURTESY IMAGE
August 2018 / ENTREPRENEUR.COM / 37 INNOVATOR
Innovating governance Evaluating the future of voting, policy-making and legislation by DR. PETER H. DIAMANDIS
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often speak about the have dramatic implications on importance of experimen- other, larger systems. tation. In academia, groups like What about experiment- Stanford’s Political Science De- ing with how we govern partment have formed research ourselves? networks of social scientists As exponential technolo- applying experimental methods gies disrupt managerial sys- to the study of governance and Items in the private sector, I’m politics in developing coun- struck by the question: can we tries. run meaningful experiments And even at the smallest with government- how we vote, scale, we’re seeing com- create policy, and legislate? munities like Burning Man This article is an exploration (~70,000 people) experiment of three opportunities that with some radical notions HUMANS WILL BECOME An all-digital, might offer the prospect of of governance by gathering MULTIPLANETARY IN decentralized currency iteration around governance. for a week in the middle of a OUR LIFETIME. THIS There are many advantages to desert. Attendees, known as WILL BE AN INCREDIBLE having a decentralized, digital OPTION 1 “burners,” agree to a set of 10 OPPORTUNITY TO currency like Bitcoin, built SMALL, ISOLATED GEOGRAPHIC principles, such as: “radical” EXPLORE ENTIRELY NEW on the blockchain protocol. REGIONS inclusion, self-reliance and WAYS OF BUILDING For one, the transparency and Despite the fact that “all land self-expression, community COMMUNITIES, LITERALLY accountability of transactions has been accounted for,” I cooperation, civic responsibil- would deter corruption. Ad- think there are a number of ity, gifting, decommodification, FROM THE GROUND UP. ditionally, there would be no small communities, countries, participation, immediacy and fees associated with transfer- city-states, and towns that leaving no trace. ment to promote employ- ring money from country to should step up and test differ- We need to encourage more ment within a rural area, and country. No large banks or ent governance models. communities to step up and generate revenue for the Irish centralized government agen- Their “smallness” is impor- attempt new governing models, economy. Enormously suc- cies would be required to serve tant– it gives these groups and then share their results. cessful, the system is still in as middle men. And when agility, tight feedback loops, Interestingly, improvements operation today. managed properly, there would and a chance to test ideas with in our transportation systems Similarly, several free zones be a much lower risk of capital relatively minimal resources (autonomous driving, point-to- in the UAE are driving foreign being stolen. (financial, human, and other- point aerial transport, Hyper- direct investment (FDI) in wise). loop) will stimulate growth of the country and the GCC at On a national scale, we’re new cities in underdeveloped large. In Dubai, for instance, already seeing countries like areas all over the world. Per- free zones are largely aimed at Finland (5.5 million people) haps many of these will try to boosting growth and diversify- and Switzerland (8.5 million reinvent their political systems ing the economy, with a focus people) experimenting with from first principles. on technology and innovation. universal basic income. While We’ve also seen the emer- I imagine smaller nations, this is not a “new political gence of free zones. Starting from Iceland and Cyprus to system,” it is at least a new as an experiment in Shannon, Tonga and Isle of Man, might feature within one that is, one, Ireland, the concept was an take it upon themselves to A digital vote (true democracy) tricky to test and, two, might attempt by the Irish govern- experiment with free zones as One person, one vote, on every- well as provide safe havens for thing! If everyone could vote prototyping future regulatory from his or her smartphone, frameworks for global trade we’d have record-shattering and digital nations. Dubai is voter turnout. But what about leading the charge in the Mid- votes on subjects that I’m not dle East with formal “regula- knowledgeable about? Sure, I tory hacking” accelerator could vote for the US Presi- platforms, designed to disrupt dent, but what do I know about regular modes of government educational reform or tax services delivery. laws? How might the average In addition to these platforms citizen vote on these matters? and free zones, various other Well, that’s where the next ideas might include: experiment comes in… >>>
August 2018 / ENTREPRENEUR.COM / 39 INNOVATOR
virtual world for people who nature, technology is exponen- love space. Or those interested tial and requires agility. in exponential technologies Beyond this, self-interested and solving grand challenges parties, corruption, disagree- (like what we are creating at ment on ideology and cultural Singularity University). Or for values create extraordinary artists and musicians. Or for gridlocks, preventing change. athletes. Magicians. The reality is that govern- Only your imagination will be ments don’t change gracefully- the limiting factor. they change disruptively. My These worlds, digitally in- hope is that these new outlets habited by human avatars, will (small communities, space, A new form of representative munities, literally from the become places for rapid ex- VR) will allow us to experi- voting ground up. perimentation with governance ment and iterate, rather than Rather than assign my vote to a Surely, we can do better with systems and political processes radicalize and disrupt. specific politician per se, what these new societal develop- like those mentioned above. My hope is that we will find if I assign my vote on a specific ments than we have on terra But, in the meantime: why is ways to better organize our- topic to a colleague who I trust firma. change in governance so hard selves and work together. who knows the subject? So, for in the real world? Our future requires agility. A instance, you might say, “If the OPTION 3 lot is about to change. Which vote has to do with space, as- VIRTUAL WORLDS Making change happen countries or city states will sign my vote to Peter Diaman- In my opinion, perhaps the Why is it so difficult to try lead this reinvention? dis.” If the vote has to do with most exciting opportunity for new things with our existing genetic issues, assign it to your experimentation lies in the governance systems? This is the second article of a four- geneticist of choice. governance of virtual worlds. Well: it’s largely for three part series by Peter H. Diamandis, As VR technology exponential- reasons. M.D., co-founder and Executive OPTION 2 ly improves, I believe that we First, those who rule make Chairman at Singularity University, COLONIES ON MARS AND are going to be spending a lot the rules. Special interest on how exponential technologies IN SPACE of time in virtual reality over groups and incumbents write will create abundance and Speaking of underdeveloped, the next two decades. the rules that benefit them the opportunities for entrepreneurs and governments alike. unclaimed areas: let’s not As such, each of us may end most. Laws were created to Dr. Diamandis will be in Dubai on forget about space! up having “multiple citizen- support the current establish- Oct 29-30, 2018. In the long-term, what kind ships” in the future. ments, not to support possible Contact [email protected] of governance will we have on You’ll have a citizenship in future interests. with comments or feedback. Mars, the Moon, or perhaps in the country where you were Second, most of today’s a free-floating O’Neil Colony? born, defined by your geo-loca- legal systems were designed Humans will become mul- tion at your moment of birth. hundreds of years ago, before tiplanetary in our lifetime. But, more importantly, we’ll things like information tech- Entrepreneurs like Elon Musk, also have a citizenship by nology, the internet, mobile Jeff Bezos, Richard Branson, “choice” in the virtual world(s) phones and computers even Paul Allen -and Yours Truly- where you spend the most existed. are working diligently to make time socializing, playing and Third, one of the major this a reality. working. reasons for government is sta- SpaceX is aiming for a You can join communities of bility. Most people hate change manned mission to Mars as like-minded individuals, based and like waking up in the soon as 2024. on your interests and values, morning knowing that much This will be an incredible rather than your geographic hasn’t changed, that the rules opportunity to explore entirely location at birth. of the game are still in play. But new ways of building com- There might be a part of a while governments are linear in Dr. Peter H. Diamandis
Dr. Peter H. Diamandis is an international pioneer based diagnostic and therapeutic company focused prospecting of asteroid for precious materials. He in the fields of innovation, incentive competitions, on extending the healthy human lifespan. is also the co-founder of Space Adventures and and commercial space. In 2014, he was named one He is also the co-founder and Executive Chairman Zero-Gravity Corporation. Diamandis is The New of “The World’s 50 Greatest Leaders” by Fortune of Singularity University, a graduate-level Silicon York Times bestselling author of Abundance – The Magazine. In the field of innovation, Diamandis is Valley institution that studies exponentially growing Future Is Better Than You Think and BOLD – How to founder and Executive Chairman of the XPRIZE technologies, their ability to transform industries go Big, Create Wealth & Impact the World. Foundation, best known for its $10 million Ansari and solve humanity’s grand challenges. In the field He earned an undergraduate degree in Molecular XPRIZE for private spaceflight. Diamandis is also of commercial space, Diamandis is co-founder/ Genetics and a graduate degree in Aerospace the co-founder and Vice-Chairman of Human Co-Chairman of Planetary Resources, a company Engineering from MIT, and received his M.D. from Longevity Inc. (HLI), a genomics and cell therapy- designing spacecraft to enable the detection and Harvard Medical School. www.diamandis.com
40 / ENTREPRENEUR.COM / August 2018
TECH SHINY | WEBSITE TO WATCH | GEEK | MOBILE TECH | ONLINE ‘TREP | THE FIX
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.
ALL ABOUT THAT BASS SONY EXTRA BASS SPEAKERS
Sony has launched a line-up dust proof with an IP67 rating. reaction. The SRS-XB31 is of EXTRA BASS wireless Additionally, the rustproof equipped with multi-color speakers. With portability, feature allows you to enjoy line lights and flashing strobe durability and EXTRA BASS your music at home and effects, while SRS-XB21 has sound, these speakers during a day at the beach too. a single-color line light. The provide the ultimate listening EXTRA BASS speakers are SRS-XB41 will create an EDM experience. You can create a compact and stream all day atmosphere at home with concert with three-dimensional with a 24-hour battery life. speaker lights, multi-color sound right in your living These models can also be line lights and even flashing room with Live Sound mode. connected to up to 100 other strobe lights. With great Available in three colors, the Sony speakers for maximum sound, light show capability new fabric material design sound using Party Booster, and interconnectivity, EXTRA of the speakers is robust, a built-in accelerometer that BASS speakers really get the washable, waterproof, and generates a sound and lighting party started.
Sony EXTRA BASS wireless speakers Jabra Elite Active 65t earbuds IMAGE CREDIT SONY, BLACKBERRY CREDIT SONY, IMAGE
42 / ENTREPRENEUR.COM / August 2018 SHINY | WEBSITE TO WATCH | GEEK | MOBILE TECH | ONLINE ‘TREP | THE FIX TECH
PICTURE PERFECT SONY RX100 VI
Sony has expanded its popular AF/AE tracking. The pocket- Cyber-shot RX100 series with sized camera is packed with the RX100 VI, the first to a variety of video capabilities include a high magnification that include Fast Hybrid AF, zoom lens. It has an impressive 4K HDR compatibility, 120p ZEISS Vario-Sonnar T* 24- Full HD mode, Picture Profile, 200mmi F2.8-F4.5 lens, and proxy recording and more. a one-inch stacked 20.1 MP The RX100 VI is also able to Exmor RS CMOS image sensor record super slow-motion with DRAM chip, as well as video at either 240 fps, 480 an upgraded BIONZ X image fps, or 960 fps. The RX100 Sony Cyber-shot processor. Additionally, the VI boasts impressive technical RX100 RX100 VI features an efficient specs but it’s also easy to use. Fast Hybrid AF system with It has a touch shutter that rotated 180 degrees upward number of still images by up to 315-point phase-detection AF can be activated by tapping or 90 degrees downward for 30%. The camera is also Wi-Fi, points on the sensor. It can the back-LCD screen, a zoom a variety of shooting angles. NFC, and Bluetooth compatible also shoot at up to 24 fps at lever with customizable zoom There is also a Monitor Auto which makes sharing your full resolution with continuous speeds and an LCD that can be Off function that boosts max photos easy.
LOCKED AND LOADED BLACKBERRY KEY2
The new BlackBerry KEY2 any of your customizable 52 brings together iconic shortcuts to instantly access BlackBerry features with frequently used apps, call a fa- new experiences that include vorite contact, or access other a dual-rear camera, a more immediate functions. The intelligent keyboard, and BlackBerry KEY2 also features improved privacy controls. The a more impressive BlackBerry enhanced keyboard makes typ- camera experience with the ing on-the-go effortless with introduction of the first dual- increased key height by 20% rear camera on a BlackBerry and a new matte finish on the smartphone. The dual 12MP keys, which renders a more cameras bring improved auto accurate typing experience. It white balance, faster auto fo- also includes an in-keyboard cus, better image stabilization fingerprint scanner with and new photo capture capa- updated mechanics for an bilities. BlackBerry KEY2 also improved tactile response introduces new capture modes and convenience. Speed Key, and Optical Superzoom which BlackBerry KEY2 a brand new addition to the makes it possible to capture BlackBerry keyboard, is a better photos with greater de- It comes preloaded with the expandable storage MicroSD shortcut to access a number tails from further away. With DTEK by BlackBerry security support. Powered by a Qual- of functions on your device integrated Google Lens, you application. The device of- comm Snapdragon processor, at any time, eliminating the can search and obtain informa- fers up to two days battery the BlackBerry KEY2 gives need to return to the home tion more quickly and easily. life, 6GB of memory and is users all the power they need screen on your device. Just BlackBerry KEY2 is the most available in 64GB and 128GB to get more done wherever the press Speed Key along with secure Android smartphone. storage variants- both offering road takes them.
#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 www.theglobalgazette.com and talk to her on Twitter @TamaraClarke.
August 2018 / ENTREPRENEUR.COM / 43 CULTURE BUSINESS UNUSUAL | LIFE | TRAVEL | DESIGN | TRAPPINGS
‘TREP TRIMMINGS THE EXECUTIVE SELECTION From better goods to better wardrobe bests, every issue we choose a few items that make the approved executive selection list. In this issue, we present selections for your next summer escapade, a notable new fragrance for the season, and more.
FORM AND FUNCTION 10-piece limited editions, encased CHOPARD in 46 mm cases, one is available Launched in celebration of in gray blue dial, while the other Chopard’s 150th anniversary, the is available in 18k rose gold. It brand has gone all out with its bears other distinctive features: L.U.C. 150 “All-in-One,” which a date display, a month and leap owes its initials to founder Louis- year at 3 o’clock, a tourbillon Ulysse Chopard. The timepiece indicating seconds at 6 o’clock, has 14 indications with two dials, and the perpetual calendar’s day which includes astronomical of the week display with a 24- and calendar functions, and a hour indication at 9 o’clock. tourbillon. Offered in two new www.chopard.com
Chopard L.U.C. 150 “All-in-One” IMAGE COURTESY CHOPARD COURTESY IMAGE
44 / ENTREPRENEUR.COM / August 2018 BUSINESS UNUSUAL | LIFE | TRAVEL | DESIGN | TRAPPINGS CULTURE
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August 2018 / ENTREPRENEUR.COM / 45 ‘TREPONOMICS ETHICS | SKILLSET | MARKETING | PRO
LOVE WHERE YOU WORK THE ESSENTIAL ELEMENTS OF A MEANINGFUL day. Or at the very least, they should feel COMPANY CULTURE by SUHAIL AL-MASRI comfortable, safe, valued, and respected in their work space. In fact, employees who are happy with their jobs find it hard to leave their company as they enjoy the challenges common word that everyone encounters on a associated, their co-workers, and the whole regular basis in the corporate world is “company working environment. Some job roles are culture.” It is the unspoken rule that culture shapes challenging and require handling difficult tasks and many responsibilities, which is behavior and continues where the employee why work culture and work environment Ahandbook stops; it shows employees what values should serve to encourage, comfort, facili- are most important; it guides them on how to act, react, and tate, and reduce stress. respond to expected or unexpected events; and it draws But it isn’t merely an issue of engagement and attrition. Attracting and hiring talent are the framework of co-working and collaborating for the com- also largely influenced by company culture. mon goals and objectives of the company. Company culture The Bayt.com Ideal Workplace in the Middle dictates whether an employee feels comfortable to tell their East and North Africa Survey also revealed that one in two professionals say culture is boss about new ideas or existing problems, for instance. a determining factor in joining a company or another. That is another big reason as to According to the Bayt.com Ideal Work- why shareholders and managers should be Culture tells employees place in the Middle East and North Africa how to take their own concerned about workplace culture. Survey, good ethics and practices (53%) daily decisions and what and friendly company culture (37%) are to do even when the DEFINING YOUR CULTURE manager isn’t present the top two most attractive business val- to provide guidance Company culture plays an important role ues to job seekers. Culture tells employees and feedback. Each throughout the recruitment process. Job how to take their own daily decisions and company has its unique seekers look for companies that have a posi- what to do even when the manager isn’t corporate culture. tive reputation and a healthy culture. It is present to provide guidance and feedback. SOME JOB ROLES unrealistic for instance to look for independ- Each company has its unique corporate ARE CHALLENGING ent talent who has leadership potential when culture. However, the common thought is AND REQUIRE the company’s current practices and struc- that culture relates to employees and en- HANDLING DIFFICULT ture severely limits employee autonomy. sures they have a productive yet engaging TASKS AND MANY As a manager, you know that the type of work environment. RESPONSIBILITIES, talent you are able to attract and compete for A question that often arises is why WHICH IS WHY in the market is influenced by what you can should a manager or a shareholder care WORK CULTURE AND offer them in return. The highest caliber of about the company culture, and why WORK ENVIRONMENT talent can be demanding, not only in terms should they invest in developing, defin- SHOULD SERVE of expected pay and benefits, but also in their ing, and communicating this culture? The TO ENCOURAGE, ideal work environment and culture. simple answer would be that employees COMFORT, FACILITATE, But talent needs should serve as a basis should wake up every day energized and AND REDUCE STRESS. for defining your company culture. Is your excited to head to their office, rather business in need of creative people? If so, do than dreading the idea of working. They you offer the environment, tools, and policies should be looking forward to their working that encourage less-restrictive and creative GRAPHS © BAYT.COM © GRAPHS
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HIRING CANDIDATES BASED ON CULTURE-FIT According to Harvard Business Review, employees can be split based on their culture-fit and performance. For instance, employees who work hard and are highly productive but don’t fit within the compa- ny culture (also known as “vampires”) can be incredibly problematic. The hard truth is, these employees should be dismissed as their thoughts and approach could be harmful to the company’s culture, which reflects directly on the company itself. Employees portray the company’s image in public and in any place or event they at- tend. Any work-related conversation, even in a casual setting, can convey the percep- tion of the individual about the company they work for. If the employee fits in the COMPANY CULTURE PLAYS AN your culture externally to potential talent. culture and shows positive interests, then IMPORTANT ROLE THROUGHOUT Bayt.com’s Ideal Workplace in the Middle there is a high probability that this will be East and North Africa Survey has shown reflected on the company’s own reputa- THE RECRUITMENT PROCESS. JOB that word of mouth (25%), followed by tion. For startups and small enterprises, SEEKERS LOOK FOR COMPANIES online company pages targeting job seek- this can be very beneficial or very harmful THAT HAVE A POSITIVE REPUTATION ers (24%) and social media (22%), are as word-of-mouth among a relatively AND A HEALTHY CULTURE. perceived as the best ways to promote small audience can make a huge impact. company culture among job seekers. practices? What about communication Nowadays, many companies are turning ENSURING EMPLOYEES UNDERSTAND THE practices? Can you adopt open communi- to what is known as “employer branding” COMPANY’S VALUES, MISSION, AND VISION cation strategies in your company? as a method to show their unique culture “Why do you want to work for us? What As soon as candidates step into your and everything that makes the company do you know about our company?” These company, they should feel that your work a great place to work for. An effective famous questions used in job interviews environment is well-aligned with their ex- employer branding tool affords companies give so many cues between the lines about pectations of your company culture. In a the ability to visually showcase their work how the candidate’s fit into the company. survey conducted by Bayt.com, Top Indus- environment and cultural elements, target Candidates who mention a specific reason tries in the Middle East and North Africa relevant talent groups, communicate and as to why they want to join the company 2018, only one in two MENA professionals engage with target talent through their have probably done their research on the are satisfied with their current work cul- content, and measuring and analyzing the company’s background and culture, which ture, which can be seen as a red flag. power of their employer brand. is a good sign. >>> Once you focus your company’s atten- Importance of company culture tion on the workplace culture and envi- ronment in light of your targeted talent, • Half (48%) of respondents claim company culture is a determining factor in joining a company. then you’ll automatically be able to create Importance of company culture Half (48%) of respondents claim company culture is a determining factor in joining a company. the guides and principles that everyone will be working within, and you will be known for the values or work styles you choose to highlight in the job market and 41 45 your respective industry. 48 51 49 50 47 51 49 48 49 47
COMMUNICATING YOUR CULTURE It isn’t enough to come up with the dif- ferent values and elements that make up your company culture. Communication is 42 51 42 44 39 40 35 42 42 the next essential step in ensuring that, 44 46 47 one, your entire workforce is aligned and 6 in harmony with your culture, two, you 4 4 4 7 3 3 3 4 4 2 1 are using your work culture to gauge and 5 7 4 6 7 8 4 4 3 6 7 5 improve metrics related to talent reten- Total UAE Saudi Kuwait Bahrain Oman Lebanon Jordan Egypt Morocco Algeria Tunisia tion, and three, you are communicating Arabia Don't know/ Can't say I don't pay attention to company culture It is important but not a determining factor It is one of the determining factors
August 2018 / ENTREPRENEUR.COM / 47 Base: Total (5,624), UAE (505), Saudi Arabia (1,363), Qatar (138), Kuwait (141), Bahrain (45), Oman (63), Lebanon (116), Jordan (422), Egypt (1,452), Morocco (361), Algeria (383), Tunisia (85) Q. What type of information would most excite you to join a company as an employee?
All figures are %’s ‘TREPONOMICS ETHICS | SKILLSET | MARKETING | PRO DRIVING REAL ESTATE INVESTMENT OPPORTUNITIES ACROSS PROPERTY MARKETS GLOBALLY
decisions or influence critical strategies pertaining to company culture, values, and direction, then it is safe to say that reten- tion and attraction measures will head south. Some companies make this mistake as they are growing. They involve fewer em- ployees in key decisions because it is more logistically complex to involve everyone. But such practice easily reflects on the business and it quickly becomes a work- place culture that employees shouldn’t be involved in decision making and strategy building. Employees will eventually perceive their roles as effortless and mechanical. It becomes a procedure of going to the No doubt that a person can’t be fully as- office, doing what they are asked to do, An effective employer sessed from a 30-minute interview, and branding tool affords and working hard for someone else’s goals what they claim in terms of personality companies the ability to rather than their own. In most cases, this and cultural alignment doesn’t always visually showcase their isn’t what employees look for. They look work environment and materialize in real life. Nonetheless, that’s cultural elements, target for a company that hears their suggestions REGISTER why it is essential to use the onboarding relevant talent groups, or decisions and a place where they can period to observe and truly assess to what and analyzing the power show significant impact towards the bigger ONLINE AND degree the employee understands and of their employer brand. company goals. ascribes to the company culture, vision, POSITIONS, TITLES, At the end of the day, it is important mission, and values. OR AGE SHOULD to understand that the process of creat- SAVE AED100 Even existing employees need a fre- NOT DICTATE ing and implementing a unified company quent refresher on these essential culture THE PROCESS culture is not a static process. It should components, what they mean, how they OF DEFINING, involve the voice of all employees and can impact their work, and how they can COMMUNICATING, stakeholders and should be adaptable to use them to their advantage. Speaking AND IMPLEMENTING changes, especially for new companies and of mission specifically, if an employee is THE COMPANY startups that are growing and changing committed to the job, it becomes their CULTURE. rapidly. daily motivation to wake up energized and excited for work, knowing that they are THE HOME OF fulfilling a big goal and working collabora- REAL ESTATE INVESTMENT tively towards a defined mission. Likewise, an assessment of employee’s Satisfaction with current/ most recent industry Cityscape Global has grown to become the largest and most alignment with the company’s core princi- trusted annual meeting point for the property market to ples and values can be a positive rein- Working hours 12 12 12 39 25 stimulate cross-border investment, promote transparency in forcement of the employee’s essential role and significance for the company. Work culture 14 14 16 35 21 the market, and propel the industry across the globe. The event attracts a dynamic list of investors, homebuyers, developers, 2 - 4 OCTOBER 2018 ACKNOWLEDGING THAT MANAGERS AREN’T Training and development 20 16 17 29 19 THE ONLY DECISION MAKERS government authorities, and real estate professionals. Dubai World Trade Centre | UAE Job security 20 15 16 30 18 Positions, titles, or age should not dictate the process of defining, communicating, Work–life balance 15 16 16 36 17 and implementing the company culture. At the end of the day, all employees can Career growth 22 18 17 29 14 +9714 336 5161 [email protected] www.cityscapeglobal.com learn something new from each other and Salary packages 24 21 18 28 9 it is very hard to find one person who has (inclusive of non-monetary benefits) answers to everything. Platinum Sponsor Platinum Sponsor Platinum Sponsor Strategic Partner Official Airline Official Arabic When a company decides that only Completely Dissatisfied Somewhat Dissatisfied Neither dissatisfied nor satisfied Newspaper senior employees and managers can make Somewhat Satisfied Completely Satisfied
Q. Now thinking about the industry that you currently work in/ worked in most recently, please indicate your level of satisfaction with the following attributes: Suhail Al-Masri is the VP of Employer Solutions at Bayt.com, the #1 job site in the Middle East with more than 40,000 employers and over 30,600,000 Official Russian Regional TV News Official Business Regional Media Organised by registered job seekers from across the Middle East, North Africa and the globe, representing all industries, nationalities and career levels. Masri has more Publication Partner Magazine Partner than 20 years of experience in sales leadership, consultative sales, account management, marketing management, and operations management. His mission at Bayt.com goes in line with the company’s mission to empower people with the tools and knowledge to build their lifestyles of choice. 40++3,,(:;
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THE HOME OF REAL ESTATE INVESTMENT Cityscape Global has grown to become the largest and most trusted annual meeting point for the property market to stimulate cross-border investment, promote transparency in the market, and propel the industry across the globe. The event attracts a dynamic list of investors, homebuyers, developers, 2 - 4 OCTOBER 2018 government authorities, and real estate professionals. Dubai World Trade Centre | UAE
+9714 336 5161 [email protected] www.cityscapeglobal.com
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Another reason why many 1. False sense of security bosses lose sleep over the that employees are less likely possibility of losing their to leave due to lack of career top talent lies in the fact opportunities in the market that when such talent leave, I once posed a question to they often take with them my followers on LinkedIn the relationships they have asking them if they thought developed and nurtured for that the current job market their employers throughout was an “employer” or an their duration in the “employee” market? There company. Ouch! was a clear divide: HR Retain Bosses are not the only managers, recruiters, and ones losing sleep- employees managers believed strongly are also very concerned that it was an employer’s about their future in their market, and employers have your talent jobs. Several surveys, the upper hand in dictating including a Nielsen report when, who, and how they Six reasons why GCC employers conducted recently, showed attract talent- but jobseekers are losing their best employees that “job security” was believed otherwise. I have the top concern among seen how this false sense of by ABDULMUTTALIB (TALIB) HASHIM employed residents in the security influence how man- country. Interestingly, in the agers treat their employees UAE, this fear is also shared until it’s too late. by Emirati nationals, who regard “job security” as the 2. Lack of clarity and most important factor in transparency any career choice they make, I have seen this transpire beating salaries and benefits across the various functions offered according to a of the talent management survey conducted by Boston process in organizations. For Consulting Group in 2015. example, the recruitment From the jobseekers I speak process would produce vague to regularly, I can confidently job roles and responsibilities. say that sentiment has not Another example is when changed much. the HR function does not The question here is, could define and communicate the the fall in oil prices and company’s employee value the challenging global and proposition (EVP). The EVP local economic climate be can be better described as the only reasons why both the “What’s In It For Me expat and local talent are (WIFM)” paradigm, as it’s leaving their jobs? Should really the set of rewards, peak to almost As heartless as it may sound these be the only reasons benefits, and incentives any HR leader to some of you, this type of organizational leaders the prospective or current or company thinking does make sense. should be concerned about employee receives in return boss in the GCC According to studies by when trying to retain talent? for their performance in the nowadays about leading human resource Well, I believe that there workplace. Another major their biggest HR consultancy firm Aon, more are other reasons behind culprit here is the lack of concern, and than 60% of organizations top talent leaving their clarity when it comes to the term “staff they had surveyed said organizations, and they often salaries and benefits offered S retention” will that “an inability to retain happen right under the very to prospects. Similarly, jump immediately at your key employees contributed noses of the organization’s many employees I speak to face. And by retention, lead- to deals not meeting their leadership, and taken for complain of not being able to ers mean that they are really goals.” Losing top talent granted until it is too late. crack through the glass ceil- interested in keeping their can be an expensive affair Here is, in my opinion, a ing and progressing higher top talent, and letting go of for employers, due to the list of six nonsensical HR due to the lack of clarity -and employees they feel don’t substantial costs associated practices in the GCC region fairness- when it comes to play a role in driving the with finding, employing and that drive good employees the employee’s access to de- business. training a replacement. away: velopment opportunities. It’s
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quite common to hear em- engagement as the emotional ployers tell their employees and intellectual involvement that they are cutting down that motivates employees to on development plans for give their best. Notice that short-term gains. Employees engagement, unlike loyalty, are then told to “just get on is not bound by time, type of with it,” since the company relationship, or blind faith is focused on “more pressing in the boss. It’s because of priorities.” However, we tend this that I find engagement a to forget that what makes more befitting goal to pursue human beings unique as in today’s workplace, espe- a species is their need for cially among a millennial progression, whether it is workforce. We already know mentally, spiritually, physi- that millennials see little cally, or financially. Employ- benefit in staying in one firm ers should not take this need for life. Instead, they want for granted, as it will always sults of a survey that showed Whether you agree with his work that will make good use be there, regardless of the that 83% of millennial point of view, or find it to be of their skills, while it helps level the employee is in the respondents cited “trust- too harsh, it is unfortunately them grow new skills, work organization’s hierarchy. worthiness” as their primary a popular sentiment among that will challenge them, concern when it came to employees in the market. work that is meaningful to 3. Nepotism and favoritism their relationship with their them, and finally work they (a.k.a. wasta in the local managers. I really liked what 6. Confusing loyalty with get recognition for. Khaleeji dialect) the white paper describes in engagement Economic and geopolitical I have always described a nutshell what every leader American businessman factors aside, I have always wasta as the elephant in can do to boost trustworthi- Harvey Mackay once said: believed that the organiza- the room that nobody wants ness in their organizations: “Employee loyalty starts tion’s approach to harness- to talk about openly. In my “walk the talk, and tell it the with employer loyalty. Your ing its human capital in the experience, wasta has been way it is.” This, in my view, employees should know most optimal way is key blamed for everything from translates to leaders who that if they do the job they towards achieving success hiring decisions employers embody the organization’s were hired to do, with a and long-term sustainability. make, access to internal op- culture, while giving honest reasonable amount of com- This is evident from the most portunities, career growth and transparent feedback. petence and efficiency, you successful global companies, and promotions, to who will support them.” It’s no as well in the philosophy is the boss’s favorite, and 5. Ancient and outdated secret that organizations are top CEOs adopt in running who gets the office with a attendance policies worried about the uncer- their businesses. Each per- nice view. I’ve heard it all. I recently brought up this tainty shrouding the global son is unique in their own Managers might take wasta topic on Twitter, and got a and regional market. This way, however, according to for granted, but employees good number of people share uncertainty unfortunately self-development guru and feeling frustrated of what their views and experience continues to dictate not only author Anthony Robbins, they see as injustice will not on this. One of them was the strategy, but the attitude we all share six human take it for granted for too an Emirati who articulated organizations adopt towards needs: we long for Certainty, long, and it’s only a matter what he felt about employ- its workforce as well. I have Variety and Change, we want of time before they pack up ers’ attitude to attendance in always found it strange when to feel Significant, we long and leave. the region, noting that some employers expect employees for Connection with others organizations were not being to put their careers on hold, around us, we want to feel 4. Entrusting promising sincere when it comes to all and stick to the organization that we are Contributing to talent to line managers the talk about engagement through thick and thin, while something wherever we are, who lack the competency and employee productivity. the company -hopefully- and finally, we will always or trust to engage and lead He said: “In reality, employ- sorts itself out. HR has come look for Growth. Employers their teams ers who say that would, in a long way from an emphasis would do well to heed these A white paper titled Talent truth, love it if there was an on loyalty, to embracing basic human needs if they 2021 published by Aon in option to have every employ- the concept of engagement. want to retain their talent, 2017 referred to the re- ee wear an ankle bracelet.” Aon, for example, defines and keep them engaged.
Abdulmuttalib (Talib) Hashim is an Emirati entrepreneur, Emiratization and workforce localization expert, and founder of TBH Consultancy, a localization consultancy firm. TBH is the first advisory firm with a full-fledged focus on Emiratization and localization in the GCC. Talib is also an Associate Partner with Global Human Resource consulting firm, Aon. Through his work, Talib has been instrumental in advising senior managers on issues related to adopting the most effective ways to attracting, engaging and developing their local talent. Talib is also a coach and mentor for entrepreneurs. He has mentored UAE nationals in local programs such as The Emirati Launchpad by Impact Hub, The EAAGY Awards for Gulf Social Entrepreneurs, and Emirates Foundation’s KAFA’AT Program for Emirati Entrepreneurs.
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We know that lawyers often get a bad rap, and that many entrepreneurs are fearful of engaging with them. Many entrepreneurs think that lawyers are prohibitively expensive and are not financially viable, and therefore put them at the bottom of their priority list. Entrepreneurs can be so focused on the development and growth of their start- ups, and so sure of their product or ser- vice, that they tend to address the more immediate issues of funding or product development, while overlooking the legal risks that their organization may face down the track. The failure statistics are alarming and access to quality legal services is often a key factor in a startup’s failure. When money is tight, entrepreneurs may resort to Dr. Google (downloading unsuitable contract templates off the internet), or avoid spending precious cash on expensive lawyers. With early legal deci- sions having a significant impact on the safeguarding of a business as it scales, overcoming “lawyerphobia” early on in a company’s development can prove cru- cial to the success of a startup or SME. Don’t become another statistic. Here is a list of the top things that can, and do, go wrong for entrepreneurs without proper legal support.
1. LACK OF STRUCTURE Overcoming lawyerphobia A common mistake made by entrepre- neurs early on is failing to choose the Getting proper legal support for your startup by AHMED ARIF right legal entity to operate their busi- ness. There are multiple organizational structures available and using the cor- he UAE startup ecosystem has developed significantly in rect one can be critical to ensuring that the last couple of years and is leading the MENA region in your business is successful. With so many alternatives, and without seeking terms of investments. In 2017, US$560 million was invested legal advice, the choice can be over- in 260 startups, according to research from community whelming, and the temptation strong, platform MAGNiTT. With the UAE committed to strengthen- to choose the cheapest or fastest form and location. Failing to choose the right ing its non-oil sector through diversification, startups and structure can be extremely costly –both SMEs are rightly being recognized for the crucial role they in terms of money and time– if you make can play in achieving this goal. This makes the case for access to the wrong choice and need to rearrange T your company structuring later during proactive and sound legal advice for startups even stronger. an investment round or exit.
Ahmed Arif is a Principal at Support Legal, a NewLaw provider of world class legal advice, delivered by expert lawyers with more than 10 years’ experience gained at the world’s top firms, at an accessible, fixed price point and deployed using cutting-edge legal technology. Ahmed spent over 10 years with Freshfields Bruckhaus Deringer in Dubai, specializing in mergers and acquisitions and advising on some of the largest transactions in the region. Whilst there, he was also involved in, and is passionate about, deploying new legal technology to help lawyers work in the way that clients want, not the way that lawyers are used to. Advising both strategic and financial investors across the Middle East, Africa, Turkey and Southeast Asia, he has been involved with a number of precedent-setting deals. These include the first bank merger in Abu Dhabi, the first bank disposal in Jordan, one of the largest technology investments in the region and the first acquisitions by international private equity houses into the region. He also spent almost a year on a secondment to HSBC’s Global Group mergers and acquisitions function.
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2. FOUNDERS’ AGREEMENTS ing employees to transfer the > Employment Agreement Many new companies fail ownership of any IP they cre- (compensation, role respon- to establish a well-written ate during their employment, sibilities, working hours, Founders’ Agreement that to the company. grounds for termination, explicitly outlines duties and Intellectual property rights ownership of IP) obligations of each partner. will be a key area of focus > Company policies (policies, When there is more than one for any investor doing due procedures and expectations founder, a Founders’ Agree- diligence on your company, so on various matters e.g. annual ment is crucial for solving it is important to get it right leave, social media, dress issues that may arise in the from the start. Entrepreneurs code) your website or app doesn’t future. It is normal to believe should continue conducting > Record-keeping (including function as you intended. nothing could possibly go regular reviews to ensure that emergency contact details, A Website Privacy Policy sets wrong and you and your fel- the company’s business is annual leave, sick days, days out the terms on which your low founders will be friends not exposed to infringement in lieu, length of service, per- business collects, manages, forever. Entrepreneurs often claims and force them into mission to make deductions stores and uses personal wait too long to ask them- costly changes to the busi- from salary, such as housing information users share with selves the tough questions, ness. loan, etc.) you through your website. and to think about how they > Pay slips GDPR or other privacy laws will deal with the challenges 4. LACK OF EMPLOYMENT > End-of-employment/ter- may not directly apply to that may arise in the life of DOCUMENTATION mination letters (including your business but you can their business. It is easier to As your team grows, calculation of end of service set your business apart from discuss worst-case scenarios you’ll want to have a solid gratuity and any other deduc- your competitors by follow- while the going is good than foundation of employment tions) ing global best practice and to be unprepared if the rela- documents. Business startups showing respect for your tionships go sour. Discussions often encounter employee- 5. NOT HAVING TERMS OF USE users’ privacy by having a between founders must be related problems, but this can AND PRIVACY POLICY FOR Website Privacy Policy. both objective and honest, be avoided with a comprehen- YOUR WEBSITE and consider the current situ- sive set of employment docu- This task may not be your 6. LACK OF BUSINESS TERMS ation and future scenarios for ments, giving everyone a clear first priority, but these parts AND CONDITIONS the business and its found- view of the rules, regulations of your website come under a A common cost-cutting mea- ers. What are the roles and and expectations in your surprising level of attention, sure by new entrepreneurs is responsibilities of each of the workplace. especially given the recent having a poorly-drafted set of founders? What happens if global focus on General terms and conditions which one of the founders wants to Examples of essential em- Data Protection Regulation don’t accurately reflect how leave? ployee documents are the (GDPR). For most businesses, the business operates or none following: launching a website will at all. Your Business Terms 3. INTELLECTUAL PROPERTY > Offer Letter (basis on which follow shortly after the incor- are essentially a contract ISSUES employment is offered and poration process is complete. governing your relationship If you have developed a addresses immigration pro- While most websites seem to with each of your customers. unique product, a world- cedures) have one, there’s actually no Think carefully about how changing idea, or an eye- legal requirement for defining your business operates, and catching name for your Terms and Conditions. These how it may operate in future, business, you should consider It is important to ensure may not be required by law, when drafting your Business that your company obtains taking appropriate steps to all the legal rights to own but it’s still a smart thing to Terms. Review them regularly protect your intellectual or license the intellectual include. as your business grows or property. It is important to property the founders have Your Website Terms of changes. created and which are vital ensure that your company to running the business. Use is the legal agreement The key provisions in your obtains all the legal rights to between a user and your busi- Business Terms will be own or license the intellectual IF YOU HAVE DEVELOPED ness. Users of your website dictated by commercial deci- property the founders have A UNIQUE PRODUCT, or app agree to the terms and sions (e.g. your company’s created and which are vital A WORLD-CHANGING IDEA, conditions they will follow sales process, variations to to running the business. It OR AN EYE-CATCHING when accessing that website the scope of work, delivery, is relatively easy and inexpen- NAME FOR YOUR or app, regardless of whether warranties and payment sive to assign this IP to the BUSINESS, YOU SHOULD they purchase your products options). Involve employees company at the time it is or services, and is designed from across your business incorporated. The assignment CONSIDER TAKING to protect you from misuse when drafting your Business process can then be built into APPROPRIATE STEPS of your website by users. It Terms and ensure that they your employment agreements TO PROTECT YOUR can also limit your liability follow them in day-to-day as you move forward, allow- INTELLECTUAL PROPERTY. if something goes wrong and operations.
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If there are several successful companies from your industry in the country, look at what they do, and how they run their business there. Then, come up with a model that’s better and more attractive. Alright, then. Once you are sure that it is the right time and your company is ready to enter a new market, that’s when you need to consider affiliate marketing, as it can help your business make its move safely and effectively.
PART ONE WHAT IS AFFILIATE MARKETING? (AND WHY DOES IT MATTER?) When you are trying to break into a new market, you’ll need to get the word about your business out there, and that essentially makes you an ad- vertiser. You have some prod- ucts and/or services that you want to sell abroad. Now, the publishers are those who will do your marketing and promo- tion work for you. Publishers EXPAND are usually professionals in online marketing who know how to promote any product YOUR REACH to various audiences. Now, you can have more than 1,000 publishers who can Understanding how affiliate marketing promote your offer- which can can help you grow beyond your (current) borders make it hard for you to deal with them on your own. And by EKATERINA VASINA this is where affiliate networks come into action. Affiliate net- he prospects of interested in your products, customers in that country works help advertisers build expanding your and no less important, that as well: whether they are strong partnerships with pub- business into a new your company possesses all women, men, or both, as well lishers, providing many tools, country is an excit- facilities to do it. as an age range. Be conscious statistics, a platform, payment ing one. Maybe First, do some research to of your customers’ lifestyles, methods, and other resources your home market see whether there is demand so that you can be better that benefit all parties. T has not been the for your products in the coun- informed about which product Entering a new market perfect fit, or perhaps you’ve try you want to break into. For characteristics to emphasize, with the help of an affiliate realized a great deal of success instance, one would have to and also understand your network can thus save you there, and you’re ready to recognize that it will be hard customers’ behavior. All of time and money. Almost the move outward. for an online store with ordi- this will help you to compile only thing you need is to pay But before taking on the nary clothes to enter the Chi- an offer to show publishers for the result you set. Keep challenges of breaking into a nese market, as e-commerce the best way to promote your in mind you can also leverage new market, it’s important giant Alibaba is very popular company. affiliate marketing with where to have two very important among Chinese consumers. Next, it’s imperative to you’re already doing business, things figured out: that users You should understand understand the competitors and it will increase your sales in that country are potentially the profile of your potential you’ll face in the new market. there as well.
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There are several advantages tion of your success. Here are to joining an affiliate network, the main points which you no matter which market you should pay attention to while are targeting. At Admitad, for filling out the offer: instance, around 700,000 publishers have joined our af- 1. Action filiate network, and have been You should indicate the action working with it and promot- for the performance you pay ing various kinds of offers. for. There are several action Publishers hail from different types: sale, order, lead, install, countries, so they know how view, and click. If your goal is to promote the goods in their sales, make the required ac- country. tion a sale. At the same time, you AFFILIATE NETWORKS HELP more publishers that have don’t need to have an online 2. Geography ADVERTISERS BUILD STRONG taken your offer, the more marketing department in You can choose to attract sales PARTNERSHIPS WITH PUBLISHERS, ads your customer will see on the country where you want from any country, but if you PROVIDING MANY RESOURCES social networks and on other to enter, nor do you need want to expand into the mar- THAT BENEFIT ALL PARTIES. sources. Thus, your brand to spend on agencies for ket of any country in particu- awareness will gradually customers to learn about lar, specify that in your offer. Be especially careful and at- increase in the market. your brand. But you will need You can also set the rules so tentive as publishers can use Through an affiliate network, one employee, perhaps from that the publisher’s reward traffic sources unfairly, such you can also make deals with your marketing department, varies depending on the as use cookie stuffing to show local influencers who will who will monitor the whole country where the customer better results. This will lose promote and recommend your process and make sure that made the purchase. It is better you money, so don’t forget to products to their subscribers. figures and analytics are cor- to indicate that required ge- forbid unwanted traffic like Nowadays, cooperation with rect. ography (i.e., the destination) brand bidding, adult website influencers has become one Also, you pay only for the isn’t the country you received traffic and any other sources of the most effective ways of result: if you want publishers the order from, but rather the which your company doesn’t promotion. Subscribers are to drive sales, then indicate country where this order must accept. very loyal to the bloggers they that the required outcome is be shipped. Set rules to indicate any ad- follow, and they actually listen a sale, and pay only for that. ditional terms. Once the offer to what influencers recom- You include the reward to the 3. Audience is set, send it to the manager mend. To motivate their sub- publisher in the margin re- Try to describe your target of the affiliate network, and scribers even more, you can ceived from the sales executed audience in as much detail the manager will upload it to give a special promo code for on that site, so you don’t need as possible, so that publish- the catalogue of programs. a discount to the influencer, to make many different cal- ers know how and to whom Then, the affiliate network who will then share it with culations. There’s no need to to promote your products. informs the publishers about his/her viewers. allocate expenses on attract- Share some insight about your your offer, and they start The most satisfying result is ing customers, nor to devote audience. working with it and promot- when publishers drive sales budgets to testing marketing ing it. for you. They are motivated and promotion campaigns, 4. Product to promote your brand, and simply because publishers You and your colleagues know PART THREE do their best to make users will do all of this for you. You your product like nobody else WHAT DO YOU GET FROM buy your products, as their set the rules of your offer, and in the world, so try to make WORKING WITH AFFILIATE reward depends only on the publishers follow them to get sure that you have highlighted NETWORKS? number of sales (or whatever the reward. all of the best features of your Making use of an affiliate the required action) they have product. Publishers get ac- network will, for starters, get attracted. PART TWO quainted with your products your potential customers to But keep in mind that pub- HOW DO YOU GO ABOUT through the offer, so the better notice and become acquainted lishers won’t be able to attract AFFILIATE MARKETING FOR you describe your goods, the with your company and its sales for millions of dollars YOUR COMPANY? easier it will be for a publisher products/services. Publishers in one month- or maybe they Let’s imagine that your to promote it. use various types of ads to will, as every rule has excep- company has decided to sell promote your brand, and they tions. Either way, you need to its products and services in 5. Traffic will present your products in allocate enough time for them India, so you go to an affiliate Be mindful of your traffic the best and most attractive to launch and test out promo- network. Pay special attention sources such as contextual ways so that users will both tion campaigns. Publishers to the offer you make with the advertising, email marketing, learn about the brand, and need approximately two or publisher, as it is the founda- cashback, coupons and so on. also want to buy from it. The three months to test several >>>
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business models and cam- too well. They brought in 1. Language border stores deliver goods in paigns. After compiling results a lot more orders, but they Your website should be ready about a month, so if you offer from the campaigns, they couldn’t complete them, be- for the new audience. If you delivery within 1-2 weeks, it choose the most effective and cause they didn’t have enough are going to expand to the will be a huge advantage. profitable ones. But in order of the product. So, what Spanish market, translate to evaluate the efficiency of happened in the end? The your website in Spanish, as 6. Key dates the affiliate program fairly and customer was disappointed, you can’t be sure that all your Check local holidays and other correctly, you need to allocate because they didn’t get their potential customers know seasons of high demand- for at least two or three months. order. At the same time, the your language. If you’re not example, before Christmas, or publisher no longer wanted to able to get the local language, New Year, and so on. PART FOUR work with the advertiser, as then, at the very least, trans- WHAT RESULTS CAN YOU they had attracted sales but late your website to English. 7. Segment EXPECT FROM AFFILIATE MAR- didn’t get the reward, and the And last but not the least, it KETING? advertiser, of course, wasn’t 2. Currency should be relevant to your As an advertiser, you should satisfied either. It’s best to let customers company to work with affiliate be ready for an increase in In order to prevent such a choose their currency, as it is networks. Affiliate marketing orders. Some advertisers scenario for your company, more convenient for them. For works well for the e-com- have faced the situation that here is a brief checklist on example, if you are expanding merce segment and others. On affiliate marketing worked what you should be ready for: into Spain, add the opportu- the contrary, it is usually less nity to choose euros, which efficient for B2B sales. Each AFFILIATE NETWORK LAYOUT will remove unnecessary bar- company should be consid- riers on the way to purchasing ered individually. your goods. Generally speaking, affiliate 3. Mobile-ready networks provide a unique Mobile traffic is increasing all opportunity to enter the mar- over the world nowadays, and ket of a new country- whether customers often make even it is India, China, Russia, minor purchases via mobile. Germany, the US or any other. With this in mind, you should There are many advantages to create a mobile version of promoting your product this your website, so that users way. It’s (relatively) painless, who use smartphones to buy and you don’t risk anything, goods don’t leave your web- since you only pay for results. site because they come across But, easy as it is, you will still a lagging desktop version. need to perform simple ac- tions like filling out the offer, 4. Customer support and making sure that there Be ready for new customers is money in your account, so who need help making their that publishers can get paid. first purchase. Hire some You will also need to set up employees who know the lan- integration with an affiliate guage of the country you are network, and reconcile your expanding (in a perfect world) statistics monthly. Moni- or at least English. tor also the statistics of the affiliate network approving or 5. Local logistics declining orders, so you can It is necessary to establish determine which publishers a supply chain for the new get the rewards, as well as country where you’re going to make sure no publishers to be selling your product. are scamming you. In the Know that free shipping wins end, working with affiliate over many customers, so make networks is definitely worth deals with local distributors, trying, and it can bring in or specify any other delivery millions of dollars of more channels. Most of the cross- sales.
Ekaterina Vasina is the Content Editor at Admitad Academy, and is currently studying PR and Advertising at the Russian State University for the Humanities. Before taking up the position of Content Editor at the Admitad Academy, she worked as a Junior Conference Producer holding
international summits for the retail industry. www.admitad.com ACADEMY ADMITAD COURTESY LAYOUT NETWORK AFFILIATE
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Moreover, in 2016, DMCC joined Delivery Standard for Gold. forces with Furutreagenda.org With the latter, DMCC is one of and the Centre for Economics the few entities in the region at and Business Research (Cebr) to the vanguard of the complex create a powerful, penetrating sustainability issues surrounding study of the trends impacting mining and extraction. and empowering global trade: The Future of Trade. A highly AN ECOSYSTEM THAT FINDS influential report, it suggested SOLUTIONS that the full digitalisation of DMCC is part of the government commerce could lead to a six- of Dubai, with a core remit of fold increase in the number of bringing businesses into Dubai Working with the best businesses that export goods- in and then helping them be suc- SERVCORP DELIVERS OPPORTUNITIES other words, between 100 mil- cessful- whether it is in trading, lion and 350 million businesses services or the industrial sector. PIONEERED BY THE WORLD’S NO.1 FREE ZONE would become engaged in global It functions by creating an export trade for the first time. ecosystem that helps companies he free zone concept While all residents of the UAE Another conclusion was that get a soft landing into Dubai, is an intrinsic factor in will be familiar with the reputa- digital currencies represent a and creates connections and the unparalleled growth tion of DMCC, it’s worth explain- powerfully cost-effective future networks as quickly as possible Tof Dubai as a regional ing at the outset that this free for the world of trade and could for them. trading hub. So, it’s entirely zone authority was established save economies as much as DMCC has also been a pioneer appropriate that we needn’t with an important dual purpose. 1.5% of GDP. when it comes to answering look far afield for the free zone Firstly, to provide the physical, DMCC also leads the pack another key question: where and honoured as the world’s number market and financial infrastruc- in other areas: its partnership how can a business best set up one. For the last three years ture required to establish Dubai with Emirates NBD led to the an office? Plus, how should it do in succession, Financial Times as a hub for global commodities first ever corporate credit card so in a way that is affordable, fDi magazine, in its Free Zones trade. Then, as a geographi- between a bank and a free fast and projects a highly profes- of the Year competition, voted cal jurisdiction providing both zone. It can also facilitate the sional image from day one? Dubai Multi Commodities Centre a physical and virtual home to most critical factor of all for an While the geographical advan- (DMCC) as “Winner - Global member companies who can SME- working capital, which can tages of DMCC are well-known Overall.” Moreover, DMCC has enjoy the diverse benefits of life actually be provided upfront to -along with the spectacular been acclaimed as the fastest- as a trading entity in a free zone. member businesses meeting landscape of 85 towers (which growing free zone in the GCC Today, DMCC has more than selected terms and conditions. will soon include the world’s and is also unique in that it 15,000 member businesses, a It’s also worth mentioning highest commercial skyscraper)- remains the only international number growing at the rate of that DMCC in fact comprises DMCC has always been keen to commodity centre in the region. 170 per month. At the core of four diverse trading platforms: work with acknowledged world this appeal is the powerful free the Dubai Gold & Commodities leaders in office provision, and zone mantra that expatriate Exchange, the Dubai Diamond its latest business innovations Almas Tower, owners of member businesses Exchange, the Dubai Pearl result from a powerful alliance JLT, Dubai can enjoy all the benefits of Exchange, and the DMCC Tea with Servcorp, providers of the 100% ownership. Centre. There is also a raft of world’s finest flexible workspace innovative products and value- solutions. Representing 40,000 DOING THINGS DIFFERENTLY added services such as DMCC members worldwide, across 54 DMCC has always been at the Tradeflow and the Dubai Good cities in 23 nations, Servcorp is forefront of innovation. A key ex- ample is the fact that it was the first free zone in the GCC to offer a completely online registration platform. The Digital Transfor- mation Programme allows com- plete, 360-degree online visa and licensing facilitation- mean- ing supercharged registration timings, and the fact that it is now possible to go from arrival Servcorp, to free zone status in an average Almas Tower, of only eight days. JLT, Dubai
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ity that ensures businesses can enjoy a host of bespoke contract options. Servcorp’s desk service can even carry out the seam- less, end-to-end registration and licensing of a business with DMCC. The focus is to provide a solution for everyone, encour- aging diversity and entrepre- neurship while removing the potential hurdles to start-up and growth. This means that, in reality, a Ahmad Hamza, Director of Operations, also well-placed to understand THE IMPORTANCE OF FLEXIBLE business can -depending on its DMCC the very particular requirements WORKING budget- register for a desig- where the dynamics of business of entrepreneurial startups, with Servcorp’s commitment to flex- nated office or take the option are changing rapidly and where their need for value and a time- ible working aligns with leading of a highly affordable virtual entrepreneurs have to move saving, one-stop platform. international practice, which office, with packages starting quickly and cost effectively. The increasingly recognises the at only AED800 per month. feedback that we have shared FLEXIBLE WORKING - LOBBYING tremendous interest in flexible What’s more, this will access with DMCC has led to pioneering FOR A NEW BENCHMARK working and its undoubted com- an absolutely premier cowork- environments and the creation With its finger very much on mercial benefits. Worldwide, ing space, making the address of workspace and registration the pulse of change, Servcorp flexible working is a key factor in a first choice amongst serviced facilities that are second to none. has been well-placed to lobby the working practices favoured offices in Dubai. Moreover, incoming businesses DMCC to maximise the cost- by a new generation of millen- can also access the extensive effectiveness of business set-up nials, startups, and innovative/ Servcorp Community in DMCC, in the free zone by allowing creative entrepreneurs. In fact, empowering networking and registration based on a Flexible the vibrant growth of the flex- market intelligence. Together, Workspace. Businesses can ible working phenomenon is a Servcorp and DMCC see Flexible register for a coworking space headline success story of global Working as a passport to chan- at a Servcorp office, or register business: by 2017, the number nelling and nurturing growth and centrally with DMCC and reap of flexible workspaces interna- we urge every SME to explore the benefits of a virtual office. tionally had reached 15,500- a the opportunities available here.” Using its comprehensive staggering rise from the 2011 Looking at the dynamic free industry feedback, Servcorp figure of just over 1,100. By the zone climate and the advan- has helped DMCC draft end of 2018, the figure looks tages offered by DMCC, Ahmad extensive new proposals set to rise to 18,900. Currently, Hamza, Director of Operations, for flexible working, which there are estimated to be ap- DMCC, explained, “At DMCC we include a groundbreaking proximately 1.3 million people Laudy Lahdo, General Manager, provide our business community Servcorp Middle East recommendation for a minimum working in flexible workspaces of over 15,000 companies with workspace of 25-30 sq. feet. globally. According to property Having worked closely with the infrastructure, products, and This is a key step in allowing and investment titan Jones Lang DMCC since its inception, services they need to innovate small and medium businesses to LaSalle, by 2030, up to 30% of Laudy Lahdo, General Manager, and boost growth in a pro-busi- benefit from all the advantages all office space will be, in some Servcorp Middle East, com- ness, collaborative, international of a prestigious address, landing form, flexible, or have an open mented on the free zone’s environment. We also recog- phone numbers and office layout design. unique offer and its relationship nise that the requirements of support, without committing with Servcorp: “DMCC is a prime a startup is very different to to dedicated office space. UNRIVALLED LOCATION - innovator in offering the com- that of a large corporation. So, The reality is that Servcorp AND VISION prehensive solutions afforded when we can collaborate with has invested more than $100 Servcorp’s offer in DMCC is at by a vibrant, forward-thinking businesses like Servcorp to help million in IT and telecoms to the epicentre of the free zone ecosystem. Servcorp is proud to meet the demand for more flex- ensure clients receive the best itself, offering the best possible partner a free zone committed ible workspaces by providing the service possible. Plus, as a strategic, transport and com- to innovation and -above all- to right amount of regulation as specialist in Flexible Workspace mercial advantages: Level 54 the ease of business start-up well as cost effective coworking solutions, Servcorp can meet of the prestigious Almas Tower. and growth. With our finger on spaces that foster creativity, the needs of many styles of Not only does this location offer the pulse of change, we have collaboration and sustainable business, regardless of sector or exceptional coworking environ- always been driven by the need economic growth, we welcome specialisation. ments, but a client-first mental- to provide solutions in markets these initiatives.”
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It is thus crucial to realize how business leaders tend to be conditioned to think Thinking about how we think a certain way, e.g. the idea that they should exploit The key to cultivating agility in decision making all available opportunities by MARC LE MENESTREL for profit maximization. When this way of thinking directly clashes with the ethics of their customers, respect for nature or the will of their government, it can lead them to take wrong decisions and eventually destroy opportunities and lose profits. THE WAY WE THINK IS A PART OF OUR EXPERIENCE OF LIFE, BUT ALSO HELPS SHAPE IT. IT IS WHAT MAKES US SMART, OR NOT SO SMART AFTER ALL. Thinking about how we think The way we think is a part et’s say a store let them survive otherwise; But a seminal study by The of our experience of life, has been sell- they blame the customers American Economic Review but also helps shape it. It is ing large snow for not having anticipated found that 82% of people what makes us smart, or not shovels for the storm, and many other (not business people, but a so smart after all. US$15. The reasons that resemble ex- representative sample) do Each one of you has a very morning after cuses. not think it is acceptable to unique way of thinking. a major snow- In reality, they don’t really raise the price of the snow I do too. No two people’s storm, the think about whether it is shovels after a storm. If the minds operate in precisely store raises its acceptable or not for the local customers are similarly the same way. Furthermore, price to $20. Is this accept- store to raise its prices. They minded, they are likely to each of us is capable of many Lable? react, and then they think be angry and lose trust in different kinds of thinking, A large majority of busi- about how they can justify the shop if it does so. They not only depending on what ness people in my seminars their “choice.” will certainly refrain from we think about, but also de- answer that yes, it is ac- Their reaction mostly buying anything else they do pending on what we want to ceptable to raise the price of comes from an implicit and not absolutely need, and will do, say, understand, or even shovels after a storm. They unconscious identification consider that the shop is out who we want to be. invoke the law of supply with the business owner. to exploit them as much as Being aware of our way of and demand; they quote the From this perspective, they it can. thinking, of its uniqueness example of street selling of expect that raising the price Over the long-term, then, and at the same time of its umbrellas when it rains; of the shovels will help them it could be bad for busi- commonality with others’ they explain that the com- make more profit. This is the ness to raise the price of ways of thinking, helps us petitive context would not way they think. snow shovels after a storm. exercise one of our most
Marc Le Menestrel is Visiting Professor for Corporate Governance and Sustainability at INSEAD, Singapore. Marc teaches and coaches senior executives and board directors on high level performance and leadership as well as the exercise of wise power in governance, sustainability, anti- corruption and risk management. Leading companies and academic institutions are using his expertise and innovative pedagogical approaches to inspire leaders in search of both performance and meaning. Marc is also tenured professor at University Pompeu Fabra (Barcelona). As visiting professor, he is affiliated with the INSEAD Corporate Governance Centre and the Social Innovation Centre. He also teaches the ethics of sustainability leadership at the Cambridge University Institute for Sustainability; and is a regular contributor to the Lisbon MBA. Marc co-leads the African Directors Program, a joint collaboration between INSEAD and Stellenbosch University. He is advisor to the World Economic Forum on its Partnering Against Corruption Initiative.
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critical abilities as decision self-interested direction. makers: namely, choosing They can use it to better CREATIVES INVITED the way we think. understand the world of YOUTUBE NEXTUP SEEKS TO NURTURE THE ARAB At the global level, our business and be more agile WORLD’S EMERGING CREATOR COMMUNITY historical moment demands in their way of thinking. that we make this choice Are you a creative in the on producing content for the carefully, because new Decision making MENA region who breathes medium), production classes technologies and political for leaders video content, and is hustling and filming opportunities at a events are critically altering This is a crucial skill for to get more eyeballs for your dedicated space, mentorship our world, including how we today’s leaders. Being able productions? YouTube wants from experienced creators do business. Such sweeping to understand different per- to help you (and the entire (including NextUp alumni), transitions are dangerous spectives helps to anticipate Arab creator community) three months of support and we often prefer not to the reaction of customers with its new YouTube NextUp from the YouTube Content think about them. Still, they and to evaluate ethical risks contest in Dubai. Aiming to Partnerships team, among can also be an opportunity in decision making. It is find and develop the next other benefits. to make things better. Above also critical to genuinely generation of the region’s In its third year currently, all, we need to adjust our assess how various options creatives, the contest will Youtube NextUp 2017 is re- ways of thinking to meet align with the values of help participants learn to ported as having “left a great the fast-changing world the organization and of its create better videos, get more impact on its alumni,” as per around us. As Einstein put people. Business people need subscribers and take their its website. “More than half it, “A new type of thinking to be trained not to make channel to the next level. of the winners surpassed the is essential if mankind is to decisions blindly, especially Those interested to enter 100,000 subscriber mark, survive and move toward decisions where core values the challenge must have a while the other half noticed a higher levels.” are implicated. They need channel that counts between major increase in total watch Of course, we know that to learn to avoid the trap of 10,000 - 100,000 subscrib- time on their channels,” we are free to think what we justifications, to analyze and ers, monetization-enabled, reads the website. Last year’s want. But choosing how we to think about all dimen- and have at least three videos NextUp took nine creators can think about something sions of a decision before uploaded in the last 90 days. from four different countries is difficult. Often, we believe acting, and especially before With an objective to recognize to London for a five-day that there is only one way communicating. 12 emerging creators making camp, where they met with to think about something, For example, if you owned creative and exciting videos in the region’s top creators and as in our example of busi- the store that sold shovels, the Arab world, the challenge media professionals, learning ness owners esteeming five the better business decision promises an all-expenses production essentials like additional dollars per shovel might be to lower prices af- paid trip to Dubai in Novem- lighting, audio, storytell- above their most valuable ter a snowstorm. How many ber this year to attend the ing, camera, and editing asset: customer relation- more customers may come 2018 YouTube NextUp creator techniques. www.youtube.com/ ships. However, there are as a result? What would be camp (a five-day crash course yt/creators/nextup always many ways to think the effect of securing their about something. trust? How would this newly Consciously choosing the generated goodwill impact way we think is the expres- sales more broadly, beyond sion of a unique freedom the snowstorm emergency? that human beings pos- There is no definite answer sess and can nurture. It is a to whether one should way to be free, at the most raise the price or not after evolved and beautiful level. a storm, but we should not In my teaching, I invite simply react because there participants to learn differ- are compelling reasons to ent ways of thinking in order think seriously about both for them to nurture their alternatives. freedom and their power. Leadership is an art as With freedom and power much as a science. It can be comes responsibility. I am learnt by nurturing con- inviting them to be respon- versations where the mind sible for what they do with is not necessarily driving this thinking agility. They the decision, but where the can use it to think more, or heart and the soul help re- less, to think in a more al- mind it to stay open to other truistic manner, or in a more avenues of thinking. A scene from an earlier edition of YouTube NextUp IMAGE CREDIT YOUTUBE CREDIT IMAGE
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If we dig deeper into this definition, the words “positive or pleasant emotions ranging from contentment to intense joy” really stand out. These words are without question, directly applicable to the outcome of any experience a customer has with an organization. All experiences a customer has contain three component parts:
1. FUNCTIONAL Does the customer journey do what the customers want?
2. ACCESSIBLE How easy is it for customers to do what they want?
3. EMOTIONAL How does the experience Boosting business make the customers feel? Of the three components, the TURNING THE CONCEPT OF CUSTOMER most important one is the emotional component. This is HAPPINESS INTO A SUSTAINABLE REALITY FOR because the thing a customer YOUR ENTERPRISE by IAN GOLDING is most likely to remember about their experience with an organization is “the way the experience made them ver time, several Very much inspired by H.H. TO CREATE CUSTOMER feel.” With all experiences, we words have been Sheikh Mohammed Bin HAPPINESS, IT IS EQUALLY will remember one of three used to describe Rashid Al Maktoum, Vice AS IMPORTANT TO CREATE things: the organiza- President and Prime Minister EMPLOYEE HAPPINESS. > Very good things tional focus on of UAE and Ruler of Dubai, THE EMOTIONAL > Very bad things customers. They “customer happiness” is COMPONENT OF THE > Nothing at all. O include customer becoming as commonplace in EXPERIENCE IS MOST LIKELY experience, customer focus, the rhetoric of business lead- TO BE INFLUENCED BY THE By far, the worst of the customer centricity, customer ers as customer experience EMPLOYEES THE CUSTOMER three emotions is the last service, customer success, or customer service. Indeed, INTERACTS WITH. one, “nothing at all.” Even customer outcomes, customer the Smart Dubai Happiness if something goes wrong, it relationship management and Agenda states that “we are prominent as an aspiration, creates an opportunity for customer management. The fueling a city transformation it is important to understand an organization to leave the fact that there are so many to happiness. Adopting a glob- exactly what it means. Ac- customer remembering the variants at least demonstrates ally unique, science-based cording to Wikipedia, hap- way they got it right. Creating that the world of business and methodical approach, we piness can be defined as “a an emotional link with does, deep down, recognize are measuring, impacting, and mental or emotional state customers demonstrates the that customers are connected sustaining happiness for the of well-being which can be ability to identify the “wow” to the reason their organiza- whole city.” defined by positive or pleas- moments in the customer tion exists in the first place. Whilst it could be argued ant emotions ranging from journey –the compelling Over the last couple of years, that there is a lack of consis- contentment to intense joy. brand proposition that leaves a new word has firmly worked tent clarity with regards to Happy mental states may customers in no doubt as to its way into the business the true meaning of any of reflect judgements by a person why they keep coming back– dictionary, as one directly the customer suffixes, with about their overall well- and telling all their friends to related to the word, customer. “happiness” becoming more being.” do the same.
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With this in mind, how do ers. I distributed a survey to joy.” To achieve this, we must people– which is why the way organizations determine what people within my networks be able to fulfil the basic your customer feels is most really does make customers on LinkedIn, Facebook, and needs of customers –every likely to determined by the happy? How do they find Twitter. The survey contained time– whilst demonstrating actions of your employees. what it is that needs to be five simple questions: that we are able to do things The words, customer done to create an emotional that unexpectedly give them happiness, are ones that connection that will result 1. What are the three most joy from time to time. all organizations should be in a customer remembering important things to you as a focusing on understanding. their experience with them customer (consumer) of an FOR AN ORGANIZATION Understanding what will lead for the right reasons? To cre- organization? TO CREATE A SENSE OF to customers being happy and ate a feeling of happiness? HAPPINESS WITH whether it is being achieved. To know what makes 2. What irritates you most as A CUSTOMER, IT MUST To deliver a world where customers happy, it must a customer based on recent BE ABLE TO CONSISTENTLY customers are happy –consis- be possible to define their experiences? LEAVE THE CUSTOMER tently and sustainably– the core “needs and wants.” A FEELING AS THOUGH following must be in place: customer need is something 3. Which organizations do that is very important, rather you, or have you transacted THEIR BASIC > A clear understanding of than just desirable, and is a with who deliver excellent REQUIREMENTS –THEIR who your customers are, and necessity or a basic require- customer experiences in your NEEDS– ARE BEING MET. their needs and wants ment– an airline getting you opinion? to your chosen destination If customer happiness is going > An understanding of what on time, for example. What 4. Do you ever recommend to be achieved, it is critical you want their experience to customers want, represents organizations you have trans- that an organization possess- be– how do you want them the touchpoints in the cus- acted with to friends, family es the skills and competencies to feel tomer journey that are likely or acquaintances? to make it a reality. The ex- to “exceed expectation”– the perience a customer has with > An understanding from all sprinkling of fairy dust, as I 5. Have you ever used social an organization is what will employees of the role they often call it. media (Twitter or Facebook) determine their state of hap- play in delivering the cus- to interact with an organiza- piness. Customer experience tomer experience Your ability to give custom- tion when requiring customer management is something ers what they want will service or help? that cannot happen by ac- > A focus on treating your enable your organization to cident. It requires skilled employees in the same way differentiate itself. For an What customers “wanted” professionals working with you expect them to treat your organization to create a sense in 2013, is unlikely to be re- and embedding a framework, customers of happiness with a customer, markably different in 2018. It to ensure an organization can it must be able to consistently is also interesting to note that work towards the delivery of > A structured framework leave the customer feeling as what makes people happy –in the desired customer experi- to continuously manage the though their basic require- other words, what customers ence– the experience it wants customer journey– increasing ments –their needs– are will remember about their its customers to have. its ability to meet the needs being met. We must be able experience for the right rea- It is also critical to under- and wants of customers to get the fundamental basics son- is as much about getting stand, that to create customer right before we even start the basics right, as it is about happiness, it is equally as If you do not know whether thinking about things that “wowing” them. important to create employee your employees and custom- may delight the customer. What really makes custom- happiness. The emotional ers are happy, then you must In 2013, I conducted an ers happy, brings me back component of the experience ask them. Creating a strong independent research study to the Wikipedia definition –the way an organization emotional connection with to understand exactly what it of happiness –the ability to makes its customers feel– is both employees and custom- was that customers “wanted” create “a mental or emotional most likely to be influenced ers and acting on their con- from organizations. I have state of well-being which by the employees the cus- cerns, will very likely enable always been intrigued to can be defined by positive or tomer interacts with. In fact, an organization to not just know exactly what is most pleasant emotions ranging the customer culture of an survive, but to achieve a long important to us as consum- from contentment to intense organization is defined by its future of sustainable growth.
Ian Golding is a Certified Customer Experience Professional (CCXP) and a certified Lean Six Sigma Master Black Belt. In his corporate career spanning 17 years, he has worked with The Royal Bank of Scotland, GE Commercial Finance, GE Reinsurance and Brake Brothers Foodservice. In his last permanent role as Head of Group Customer Experience, Ian developed and deployed the Customer Experience strategy for one of Europe’s largest online retailers, Shop Direct. Ian has published over 500 articles on the subject and delivered keynote speeches globally. Ian also served on the inaugural Board of Directors of the Customer Experience Professionals Association (CXPA). Ian was the first person in the world to be authorized by the CXPA to teach the CCXP accreditation. In 2015, Ian became an advisor and featured columnist for CustomerThink, a global online community of business leaders striving to create profitable customer-centric enterprises which attracts 80,000+ visitors per month from 200 countries. Ian is a keynote speaker at the Customer Happiness Summit and Awards 2018, which is scheduled to happen in Dubai, UAE on October 18, 2018. www.chsa.ae
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counterproductive.” This is chasing situation because a form of analysis paralysis. choosing the wrong solution When making a significant could lead to professional B2B purchase decision, the ramifications and emotional stakes are much greater, strain. so this effect tends to be heightened in such sce- What should you do? narios. The way to overcome antici- pated regret is taking every WHEN THE B2B DECISION- step you can to eliminate the MAKER SEES YOU AS A feeling that a buyer will ulti- STRANGER OPERATING OUT mately realize they should’ve OF SELF-INTEREST, GAINING gone another direction. And SWAY AND INFLUENCE WITH that means positioning your THEM CAN BE EXTREMELY solution as the best one for DIFFICULT. them, based on their specific circumstances and needs. What should you do? Most sellers recognize that You can’t control the num- it’s bad form to rail on the ber of options a prospective competition directly during buyer faces in the open the sales process, but there market. But you can control are ways to subtly cancel out the way you present and reservations. An account- deliver information when based approach is helpful engaging them. The simpler here because it enables your Seal the deal you make this experience on sales and marketing teams The top three psychological barriers in sales their end, the better your to develop an acute under- (and how to overcome them) chances of avoiding paralysis standing of the organization by analysis. Take unneces- you’re pursuing, so you can by STEFANIE FERNANDEZ sary decisions out of the tailor the pitch and explain equation, streamline your why your solution is the hat are the It’s true: the brain works in message, and drill down to exact one for them. Addi- biggest mysterious ways. But recog- the bare essentials. Research tionally, social proof carries roadblocks nizing some of the underly- ahead of time so you can weight here. When a buyer in closing a ing cognitive drivers that eliminate extraneous ques- sees that others with similar deal? We’re commonly stall out deals tions. Remember, the less needs have done business Wall familiar with the usual can bring clarity, helping us information you cram into with you and wound up culprits: establishing ur- to alter our approaches, and a buyer’s brain, the more satisfied, it helps reduce the gency, gaining a warm intro, minimize these barriers. clearly they’ll be able to potential for regret aver- competing against lower Here are three common evaluate your offering. sion. Case studies, customer prices, overly long sales psychological barriers in reviews, and referrals (es- cycle, etc. sales, and how you can over- 2. ANTICIPATED REGRET pecially from someone the While these can be chal- come them: This theory is also referred individual is already familiar lenging obstacles, you won’t to as regret aversion, and with) can be profoundly have trouble finding an 1. DECISION FATIGUE suggests that people will impactful. assortment of proven sales One landmark research sometimes stall in making a tactics designed to overcome study found that “people decision because they (often 3. LACK OF TRUST them. On a deeper level, who had more choices were subconsciously) dread the This is the number one in- though, there are also a often less willing to decide future remorse of making hibitor of relationship-build- number of psychological fac- to buy anything at all,” the wrong choice. Regret is a ing and forward progress tors that tend to derail B2B suggesting that “choice, to powerful negative emotion, in sales. In fact, it’s usually sales, and because these are the extent that it requires and in cases like this, its the top barrier in getting a more innate and ingrained, greater decision-making mere prospect can interfere response or starting a con- they can be much more dif- among options, can become with our rational thought. versation in the first place. ficult to surmount. burdensome and ultimately This dynamic comes into When the B2B decision- play for many everyday maker sees you as a stranger decisions, but again, it’s operating out of self-interest, Stefanie Fernandez is the Head of Sales Solutions MENA magnified in a B2B pur- gaining sway and influence at LinkedIn. www.linkedin.com/in/stefanief
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EXPANDING HORIZONS with them can be extremely difficult. It doesn’t help that UAE edtech startup Lamsa World secures investment from MBRIF salespeople in general carry that will help it facilitate further geographic growth a negative stereotype in the eyes of some. Sales pros who The Mohammed bin Rashid across more than 10 markets -from early childhood develop- can consistently overcome Innovation Fund (MBRIF), a in the MENA region. This is ment and education to graphic this barrier have a dramatic fund sponsored by the Minis- indicative of the significant design and augmented reality advantage over the field. But try of Finance, and operated by momentum that Lamsa has technologies- we are delivering it’s not easy. Emirates Development Bank, gained over the past five years, a cutting-edge product that has announced a financial and we expect to build heavily has a track record in these What should you do? investment in the form of on this progress, as a result of regional challenges.” There are no shortcuts here- a loan in Lamsa World, an the funding we have received.” Lamsa’s platform hosts a trust is earned, not given. educational and entertainment Commenting on the invest- library of content (tailored The vital process of building platform and app for children ment, Haytham Kamhiyah, for children aged up to 12 trust begins before you reach in the Arab world. CEO, Emirates Development years old) including stories, out and continues through Bank, said, “We’re excited to games and videos that are the follow-up phase and announce our partnership with incorporated with the local Badr Lamsa as they accelerate the Arabic flavor and values, and beyond. It requires taking Ward, an earnest interest in the CEO, adoption of e-learning and meet international standards. prospect’s pains and needs Lamsa original digital content in the Lamsa is available across and demonstrating this in region. The Mohammed Bin Android and iOS platforms, authentic and genuine ways. Rashid Innovation Fund rec- and in 2017, the app reports to Some good methods for do- ognizes the innovation at the have recorded over four million ing so? Establish your cred- heart of Lamsa’s product and downloads, with total cumula- ibility through a consistent, their commitment to solving tive downloads exceeding 12 interactive, and insight-driv- local challenges. As MBRIF’s million, currently. en social presence. Do them portfolio grows, we continue Commenting on the funding a favor before ever asking to identify and engage with ecosystem for SMEs in the them to do you one. Build a entrepreneurs who are push- region, Ward added, “Small network of strong relation- ing the limits of innovation to businesses seeking growth ships, LinkedIn connections, Lamsa delivers interactive bring unique ideas and solu- funding have had limited op- and endorsements so that content that has a Finnish tions to life.” tions. There are certainly more your reputation speaks for framework in the fields of Speaking about Lamsa’s and more up-and-coming itself. Keep in mind that early childhood education, business proposition, founder venture capital companies, as difficult as trust is to and the SME aims to utilize and CEO Ward said, “There however, they largely tend to develop, it is equally easy to the current funding boost to is a notable need for higher focus on early-stage startups break. As long as you take a collaborate with education quality across the board when and seed funding. Conversely, consultative approach guided and child development experts it comes to Arabic language. private equity companies by honesty above all, you’ll globally, and across the MENA Lamsa is successfully con- generally concentrate on late be on the right track. region with a view to develop fronting this linguistic deficit stage investments. MBRIF has its proprietary technology by providing high-quality successfully addressed this Those old inevitable road- that’s adapted to Arabic. As Arabic language content for gap in the market by providing blocks will continue to arise per a statement, Lamsa World children throughout the Middle growth funding options.” along the journey to convert- said that it will be using the East. With a team of 22 ex- www.lamsaworld.com ing a sale, but for today’s funds from MBRIF to “expand perts across a range of fields www.mbrinnovationfund.ae sales pros, an approach its research and development designed to overcome these activities, bringing advanced dissonance factors -simplify- technologies and new charac- ing your pitch, minimizing ters to the region’s education.” anticipated regret, and “The MBRIF funding will building authentic trust- is a facilitate geographic expan- no-brainer. sion,” said Badr Ward, founder and CEO, Lamsa World. THE VITAL PROCESS OF BUILDING “Already, in the family and kids TRUST BEGINS BEFORE YOU categories, we are the number REACH OUT AND CONTINUES one app on both Google Play THROUGH THE FOLLOW-UP and the Apple App Store PHASE AND BEYOND. IMAGE CREDIT LAMSA | WWW. MBRINNOVATIONFUND.AE MBRINNOVATIONFUND.AE WWW. | LAMSA CREDIT IMAGE
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KEEPING YOUR BRAND RELEVANT [Ceaseless innovation is key] CONSUMER-FACING ENTERPRISES NEED TO EVOLVE WITH THE MODERN CUSTOMER by WALID FAKIH
n a time of constant anniversary of our legendary change and increasing Big Mac. Although this sand- customer expectations, wich is synonymous with the greatest danger the McDonald’s brand, it is facing most brands unrealistic to think we con- today is loss of brand tinue to do the same thing, relevance. Markets are offer the same food we have constantlyI shifting, with done for decades, and still new technologies popping up resonate with a completely every day, changing the cus- different type of consumer. tomer experience practically In a continuously changing by force. As more informed marketing landscape, how A McDonald’s spenders, customers expect can brands continue to own outlet in Dubai more from the brands they the conversation? Here’s buy from. how we are doing it. In order to survive, brands ers’ minds as their tastes us to maintain a modern need to evolve in a way that 1. EMBRACE CHANGE continue to evolve. Your in-restaurant experience for differentiates them from Comfort and stability are business must become a col- our customers. their competitors, and at the tempting, but they only last lective agent of change, and same time meets the needs so long. To be successful, brands unwilling or hesitant 2. INNOVATE of the customers who matter you have to preserve your to do so quickly become ir- When you provide memo- to their business. Oftentimes values and tradition, how- relevant. rable experiences and excit- faced with an issue of rel- ever, this has to be within At McDonald’s UAE, for ing new opportunities, you evance, brands struggle be- the context of current times, example, we have a keen show your customers you tween two ends– wanting to customer expectations and focus on something we call are passionate about staying gain parity with competitors requirements. Before you the Experience of the Future, current, embracing change, and adapt to market needs, know it, the market will flip which has included every- and providing the best while feeling worried about on its head and if you’re not thing from our digital order- experience for them. Get in losing established brand agile, you’ll be left behind. ing kiosks and table service there, on the ground with heritage and credibility. One of the biggest challenges to our mobile apps. These your customers to find out At McDonald’s, we are cur- all brands face is how to tools and small yet impact- what new things they’re do- rently celebrating the 50th stay at the top of consum- ful updates have allowed ing and what they’re hoping
Walid Fakih is the General Manager at McDonald’s UAE. Having been appointed in 2013, he is responsible for the day to day operations of the business, and driving future growth. With a significant number of years of both international and regional FMCG management experience, Walid is a key asset to the continuous growth, development, and management of McDonald’s UAE, and an important member of the management team. Prior to his appointment as General Manager, Walid worked as a Supply Chain Director for McDonald’s in the UAE. He also previously worked as a Supply Chain Administrator at the McDonald’s France distribution center, before relocating to the UAE as a Business Development Manager for McDonald’s UAE. Prior to that, Walid gained experience in the FMCG industry during his years at Coca-Cola and Procter & Gamble. Walid holds a Master of Business Administration (MBA) from HEC Paris School of Management and a Bachelor of Arts in Economics from the American University of Beirut. IMAGE COURTESY MCDONALD’S UAE MCDONALD’S COURTESY IMAGE
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to see from your brand in the future. The best brands don’t react to consumer trends after they manifest, they lead on them. However, all these in- novations would amount to nothing if the product/ service –in our case, the food we serve- did not live up to the customers’ expec- tation. And this is trickier than one would imagine. It’s a fine balancing act between reinventing the old favorites to meet the requirements of the current consumer, whilst constantly adding A McDonald’s outlet in Dubai new choices to the menu. For instance, with customers being much more informed madan, we added a date pie Leaders, who are front of the people who matter to and aware in terms of what to the menu, while, in line house staff dedicated to giv- your business and where it’s they’re eating, we created a with local traditions, all our ing customers a memorable headed. mayonnaise that has 50% ingredients are inspected dine-in experience. They’re In essence, for a brand to fewer calories, and we use a and approved by local au- there not only to ensure retain relevance in this age healthier blend of sunflower thorities and halal officers at their visit is seamless, of fleeting customer loyalty, and canola for frying with the countries of export and but also to listen to their it has to constantly inno- 80% less saturated fat; we upon arrival at port of entry. thoughts and feedback. This vate, adapt to change, and are always mindful of what Every company has to be has helped us maintain this make sure to be constantly the consumer wants. The respectful of local traditions ongoing conversation mas- aware and listening to its customers are evolving, and and culture, and weave their sively. stakeholders. However, it companies that don’t, will business strategy around it, Brand relevance is never has to do so with one eye fall behind. and not vice versa. a sure thing. Anything can on its history and tradition. change at any moment. A legacy is built over years IN ORDER TO SURVIVE, 3. LISTEN TO YOUR As a result, smart brands and there is a real danger of BRANDS NEED TO CUSTOMERS understand the rules of rel- a company getting carried EVOLVE IN A WAY THAT Every consumer facing evance, and earn and re-earn away in keeping up with the DIFFERENTIATES THEM brand needs to continuously their position in the market current trends and squan- innovate and not be afraid place each and every day. dering it all away. With the FROM THEIR COMPETITORS, to challenge the status quo So, take time to consider right balance, you can retain AND AT THE SAME TIME when there is a need. And how you can build a more both modernity and tradi- MEETS THE NEEDS OF THE this can only be achieved relevant brand. Maintaining tion, and that’s the recipe to CUSTOMERS WHO MATTER with a deep insight into brand relevance is the key remain relevant, no matter TO THEIR BUSINESS. what the customer wants, as to remaining valuable to what the pace of society. well as the current trends. It is also necessary to bear in Sometimes brands forget to mind the needs and prefer- listen to their customers. ences of the local customer. Even if feedback is negative, A company may have a suc- it can include useful infor- cessful formula globally, but mation about how customers that alone is no guarantee perceive your brand. If you of success on a regional or hear directly from customers local level. Even though Mc- about what they want to see Donald’s is an international from you, listen to them as conglomerate, our menus in- often as possible. corporate an array of options Something that we’ve that appeal to the taste and implemented to allow us preference of local custom- to do this is that we have ers. For instance, during Ra- appointed Guest Experience A McDonald’s outlet in Dubai
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brand experience that otherwise may not happen. Depending on the nature WITH YOUR OBJECTIVES IN MIND, of your pop-up, they also have great WHAT EXPERIENCE DO YOU WANT potential to generate public relations or TO PRESENT FOR YOUR CLIENTS? marketing opportunities to expand your USE YOUR OBJECTIVES AS A company or brand’s reach even further GUIDE FOR THE LAY-OUT, SIGNAGE, and for an extended period of time. AND OVERALL DESIGN. So, what makes for a successful pop- up? Show up, pop-up, job done, right? tives outlined, consider if it would be Not exactly. At my company, Share This worth partnering with another brand POPSTAR Space, we help brands connect with to launch the pop-up. This can help spaces across the UAE that they oth- alleviate costs, while at the same time, erwise may not have access to. Think open up your brand to a new audience. SIX STEPS some of the UAE’s top malls, theme At this stage, you should also consider parks, and even an abra on the Dubai how long you’ll hold your pop-up for. Creek. Brands that worked with us have With sales and building awareness TO MAKE popped up in all these locations and often key objectives, we highly recom- more with great success. We’ve seen our mend holding a pop-up for at least a YOUR POP-UP share of pop-up retail and F&B outlets, month, as it allows for word of mouth, brand activations, and even pop-up art repeat visitors, while at the same time, galleries, exhibitions and museums. easing those fixed costs such as décor A SUCCESS Having seen firsthand what works, elements. Lastly, in this step, think by SHAHZAD BHATTI what doesn’t, and working with our about how you’ll measure success – clients through pain points and chal- sales figures, expanding your customer lenges, we’re sharing our six-step pro- database, direct and positive feedback– f you’re a small business, an e- cess to make any pop-up a success: these will vary, but clear objectives and commerce business, a creative, defined KPIs will help inform other artist, a burgeoning brand, or 1. ASK “WHY” AND SET KPIS decisions along the way. even a well-established brand, The answer should be more defined pop-ups are a great oppor- than pop-ups are cool, or that “I’ve 2. LOCATION, LOCATION, LOCATION tunity to launch your brand, seen X, Y, or Z brand do a pop-up, so There’s no two ways around it, location grow its profile, generate sales, we should be doing it too.” Think about matters. Based on your objectives, pick build collaborative relation- what you want to achieve from the a location that suits your needs, has the ships, and connect with new customers pop-up. Is it to launch? Do market re- right type of footfall, and/or is unique, inI new locations. If you’re an online search? Test a new product or market? is easily accessible, and is aligned business, they’re a great way to connect A pure play for sales, build customer with your brand. Look what extras the with existing and new customers in relationships, or to achieve press cov- venue provides: is it free Wi-Fi, free general, allowing them to have an offline erage? Once you have your objec- and ample parking, décor elements that you can use? Is this venue of interest already to your target audience, and can they, or are they, willing to help drive traffic to the pop-up as well? Using a platform like Share This Space to find locations also helps, as it cuts down research time with the answers to the important questions often outlined on the platform.
3. LOOK OUT FOR LICENSES Having all your paperwork in order is one of the most important factors in the pop-up process. A good rule of thumb is that once you have a shortlist of The Co-Working Popup, potential pop-up locations, check with Souk Al Bahar, Downtown Dubai your preferred venues on what licenses, permissions, or paperwork they require.
Shahzad Bhatti is the founder of the Co-Working Popup and Share This Space, the region’s first online booking platform to offer brands, creatives, SMEs and entrepreneurial minded individuals flexible, short-term and cost-effective access to some of the region’s most sought-after developments, districts and venues for a range of uses including events, retail activations and pop-ups, art installations and food and beverage
concepts. www.sharethisspace.ae www.thebureaudubai.com/co-working-popup SPACE THIS SHARE | POPUP CO-WORKING COURTESY IAMGE
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For example, those wishing to “pop-up” in any of Dubai’s malls, would need a main- land trade license to do so. Requirements will vary by location, with some requir- ing more than others, so it’s always best to check with your preferred or shortlisted venues.
4. DESIGN, LAYOUT, AND ALL THAT OTHER STUFF Location and licenses sorted, it’s time to start planning the logistical particulars of the pop-up. With your objectives in mind, what experience do you want to present for your clients? Use your objectives as a guide for the lay-out, signage, and overall design. Look at what is currently Kartell pop-up at Tom & Serge available at the venue, and by Share This Space what you currently own or have, to identify gaps in terms of the dressing and ONCE YOU HAVE A to help share the word about of the brand- it really helps design of the space. Compa- SHORTLIST OF POTENTIAL your pop-up through their to have assets such as high nies like Desert River offer POP-UP LOCATIONS, CHECK social media channels, web- resolution photography, and rentals of things such as WITH YOUR PREFERRED site, and EDMs. Also, look creative assets that include furniture and displays across VENUES ON WHAT at your existing customer social media friendly photos many different themes. LICENSES, PERMISSIONS, OR or client base, friends of the and graphics that are tai- Storage should also be a PAPERWORK THEY REQUIRE. brand, and influential identi- lored for various platforms key consideration, as well a ties that you may have es- (Facebook, Instagram- point of sales systems. Tap, planning process, the ques- tablished relationships with. including stories, Twitter). for example, is a great online tion should then be: how are Would it be worth offering If you don’t have access to a payment gateway that can be you going to build awareness your customers something designer, apps like Canva are used during a pop-up. When or buzz and drive traffic to new to visit the pop-up: a great solution for some DIY considering these elements, your pop-up? If you’re a a gift, special discount, or posters, invites, and social look at all of them through brand that is working with a limited edition product, media creative assets. a creative lens as well as a communications consul- or a referral discount for through the eyes of your tancy across traditional bringing a friend or family 6. MEASURING SUCCESS customer. Think of what will or social media channels member along with them? While not a planning stage create conversations with already, talk to them about Also look at what is unique or step, measuring success your audience, attract people the proposed pop-up early, about your pop-up, highlight is just as important. Did you to visit the pop-up, or even as they may be able to add whatever your USPs are in set out what you wanted be of interest to media. Also, valuable thoughts on loca- an invitation and also in a to achieve from the pop- planning a photo opportunity tion, design, overall concept, media alert to be sent to up? Were there pleasant or design features within the and how to best leverage and journalists and bloggers that surprises or certain things pop-up can also lend itself promote the pop-up. If you may be interested in your that didn’t work out as an- to some great user generated don’t regularly work with a concept. Listings sections ticipated? Review both the content from your custom- consultancy, or don’t have across the major newspapers successes and pain points ers, which will help share the access to this type of advice, may also share the news, through a learning lens: why word. you should first look at the and of course, don’t forget to was one element successful, low-hanging fruit– your ex- highlight the news through and not the other? Many of 5. BUILDING BUZZ isting networks. The venue, your own social media chan- these learnings will not only Once all the groundwork for example, dependent on nels. To build buzz effectively be valuable for future pop- for your pop-up is laid or your agreement with them, however –especially through ups, but also for your wider perhaps in concert with the they may be able and willing partner networks and friends business model.
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A new way to work Coworking brand Our Space turns hot-desking on its head, with a focus on workplace wellness
Our Space, the coworking brand with when they need it. Add to that the de- beautiful interiors creates a relaxed, global aspirations, has a lot to offer to mands and expectations of a younger efficient ambience Inspired by nature, an evolving industry. Having recently workforce - who want everything on the state-of-the-art business cen- opened its flagship workspace in tap, from seamless technology to life- tre brings the outside in, with living Dubai, pioneering a new approach style comforts and more dynamic en- walls and an abundance of plants to productivity and well-being, the vironments - and it’s apparent that the throughout, whilst an on-site massage concept is designed to boost creativity traditional office will no longer suffice. therapist is available to ease away the and enable entrepreneurs to focus on What’s more, the popularity of cowork- strain. their passion. ing is not only increasing amongst Occupying 22,500 square feet on the According to recent research, 1.7 entrepreneurs, but larger companies second floor of the Lamborghini Dubai million people will work in coworking are also seeing the benefits. building on Sheikh Zayed Road, it of- spaces by the end of 2018, and the Our Space is positioning itself at fers a premium location close to Mall of exponential growth can be attributed the forefront of this global megatrend the Emirates and right next to the FAB to a global shift in the way that people by creating coworking centres that Metro Station, with easy access to old work. This change started with the pro- help members feel and function at and new Dubai; an area that is usually liferation of portable technology and their best. And with 24 locations due too expensive for small businesses. a thriving coffee shop working scene, to open in key gateway cities across “We believe that Our Space offers that continues to evolve and adapt to the globe, the company is committed something completely unique for the the demands of a new generation of to playing a key role in changing the city’s growing number of entrepre- workers. landscape of the industry. neurs in terms of both environment The whole idea of coworking is that When you step inside Our Space, a and efficiency” says Our Space CEO, people only use the space they need combination of smart technology and Kevan Halliwell.
70 / ENTREPRENEUR.COM / August 2018 ADVERTORIAL
“We offer a range of value-packed brand’s wellness values, not forgetting but also to provide access to expert membership options, and not only do a range of delicious premium coffees, speakers, Venture Capital providers our members get a fantastic working teas, smoothies and health shots for and mentoring, networking and even environment to support their well- those in need of an energy boost. Plus a platform to launch their business or being, they also get a hassle-free way there are a number of other lifestyle increase awareness of their products to set-up their businesses quickly and benefits to look forward to over the or services. easily while they focus on the key task next few months, including crèche Whether you’re looking for a single of generating business to ensure the facilities, a women’s only workspace desk, an impressive space to bring best chance of success.” (WOW) area, Zen Room, Tantrum clients, or a private office for a small With more than 400 workspaces, Room, Ladies Salon, and Games team, Our Space has thought of eve- including a range of hot desks and Room. rything to connect humans, nature and private desks, 24/7 access, and private For entrepreneurs and small com- technology, through thoughtful design video conferencing pods, entrepre- panies, another major draw is the and an unparalleled member experi- neurs can expect much more than possibility to connect and collaborate ence. Better still, this inspirational hub just a workspace and Wi-Fi package. with other like-minded businesses. is the perfect place to share ideas, What’s more, all members can enjoy Our Space CEO Kevan Halliwell com- network, and thrive within a dynamic the features on offer, regardless of mented: “It’s very common to see coworking community. which membership option they go for. members finding similar startups to And with an emphasis on flexibility, themselves and bartering or trading For more information, please visit businesses can grow with the space on the services they offer. For exam- www.ourspace.work as and when they need to. ple, a one-woman social media expert The on-site café Verde by Bystro might offer her services for free to an Our Space is currently offering Entrepreneur means that members don’t even need accountant, in exchange for doing her Middle East readers a complimentary day pass to stop for lunch if they don’t want to. books.” to experience this amazing space for yourselves, Operated by Timeout Dubai’s award- With a passion to help members suc- in addition to a special offer on memberships. winning café brand of 2018, it provides ceed, Our Space will also be offering Call 800 OUR SPACE (800 687 77223) and quote a ‘Be The Best You Can Be’ menu of ‘Entrepreneur’ to book your complimentary day an extensive range of member events and find out more. healthy options in keeping with the to not only encourage collaboration
August 2018 / ENTREPRENEUR.COM / 71 ‘TREPONOMICS ETHICS | SKILLSET | MARKETING | PRO
Businesses have a respon- sibility and must play a sig- nificant role in this discus- sion. CEOs and leaders are focused on achieving growth, market share and greater profit margins, but there is an opportunity to embed sustainability into their business models, so that it supports these goals, while using their size and influence to deliver scalable, impactful change. Take single use plastic straws as an example. One individual can make the choice to not use plastic straws, and it could elimi- nate hundreds of straws from our environment over the course of a year, but when large companies remove them from their operations, that number multiplies dramatically, and potentially eliminates mil- lions of plastic straws from littering the environment and entering landfills.
WHAT IS A LEGACY, AND WHY IS IT IMPORTANT? A legacy is about creating something that leaves a last- ing impression or impact. But how can a business go about having a planned, deliberate, and tangible impact? Put simply, it starts Leaving a legacy with your expertise and your people. It’s about making a Your business’ success requires a sustainability-first approach commitment to do good, and by LOUISE KOCH instilling that in the culture and values of the business. For us at Dell, this is about e can never know for sure what lies ahead; however, putting our technology and our talent to work where we with the world’s population growing exponentially and can achieve the most good set to reach 8.5 billion people by 2030, we do know for the world around us. that business as usual cannot continue if we want to Leaving a legacy in this ensure a healthy, prosperous future for our society and context is more than just a “nice thing to do.” If busi- planet. With more people comes additional strain on our nesses set goals which drive W resources: think more cars, more clothes, more gadgets, innovation, sustainability, more appliances, and more energy– which is not sustainable with our current diversity, and collaboration, these objectives will in turn model. We must consider the impact we are having both individually and result in tangible business collectively on the world around us, and we have to start making plans now. benefits.
72 / ENTREPRENEUR.COM / August 2018 ETHICS | SKILLSET | MARKETING | PRO ‘TREPONOMICS
Customers are increasingly our corporate responsibility H.E. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister concerned about the social goals back to providing them of Climate Change and and environmental impact of with value. Environment, at an event the products they buy, and, according to a recent study, 2. We drive innovation 66% of customers are will- Empowering our teams to ing to pay more for products employ creativity and an and services from compa- entrepreneurial spirit drives nies with strong corporate better social and environ- responsibility programs. mental outcomes. Having a lasting positive impact means that we can’t 3. We collaborate just do “less bad,” but both Success does not happen in as individuals and as busi- a vacuum. Working together nesses, we must find ways toward common goals, in- to do more good and in a corporating diverse perspec- sustainable way, that also tives, and drawing on each THIS IS MORE THAN JUST ration with the Ministry of inspires others to follow other’s strengths are critical. ABOUT DOING THE RIGHT Foreign Affairs and Interna- suit. This is more than just THING. IT’S ABOUT BUILDING tional Cooperation (MoFAIC) about doing the right thing. 4. We scale for success A BETTER BUSINESS: launched The Climate Pro- It’s about building a better We know that we have to UNLEASHING INNOVATION, ject, which aims at delivering business: unleashing innova- take advantage of our world- AND CREATING EFFICIENCY climate initiatives that touch tion, and creating efficiency wide reach and view our ac- the lives of 10,000,000 without compromising. tivities through a global lens. WITHOUT COMPROMISING. people by 2020 and will But what can, and should Our goal with pilot projects function under three main businesses actually do, both is to “crawl-walk-run”– if it we also see that it is becom- pillars: Gender and Youth, in the short and longer term isn’t something we can do at ing increasing central to the Extreme Weather Events, to drive change? scale, it’s not going to trans- success of business today. and Sustainable Solutions. form our business, or have According to the Better Busi- This new mindset is also LEADING THE WAY the level of impact we want. ness, Better World report, critical to the upcoming It can be difficult to know there is an estimated global workforce. Millennials now where to start, but it comes 5. We are motivated to do market potential of US$12 make up a majority of the as no surprise that for a the most good trillion annually connected workforce and according to a business to leave a legacy, For a long time, sustain- to meeting the United Na- Cone Communications sur- there must be a leader to ability meant doing “less tions Sustainable Develop- vey, 64% of them won’t take drive it. But the challenge bad.” But our efforts imagine ment Goals for 2030. up a job in a company that for any large organization, something bigger, and better. Furthermore, putting sus- isn’t socially responsible. with so many societal and We believe that technology tainability at the center stage Additionally, 83% of millen- environmental aspects that can create positive social and regionally, the Ministry of nials would be more loyal to need tackling, is how do we environmental change– ac- Climate Change and Envi- a company that helps them ensure we are being strategic tual “good” that will build a ronment (MOCCAE) in the contribute to social and en- and applying our expertise better tomorrow. That will UAE launched the National vironmental issues- demon- where we can offer the most be our Legacy of Good. Climate Change Plan 2017- strating that CSR is not only value and impact? Here 2050 last year referring to a good idea, but it’s now vital are some of our focus areas TAKE THE FIRST STEP Sustainable Development to a brand’s success. that help shape our actions, TO BUILDING THE FUTURE Goal 13 on climate change which can be applied to most The future requires a real in the UN 2030 Agenda for Now more than ever, leaders large organizations seeking change in mindset around Sustainable Development. must seriously consider, a structure and strategy for creating value, and it will This plan aims to implement decide and act on the last- their own legacy: take new types of collabora- green growth plans and ad- ing impact they can have to tions that leave a lasting, dress the impact of climate ensure business longevity, 1. We focus on our customers positive impact. change. In addition, at the while deliberately creating We keep the customer fore- This isn’t just the right World Government Summit a legacy today for a better most in our mind, linking thing to do for the long-term, 2018, MOCCAE in collabo- world and society tomorrow.
Louise Koch is the Corporate Sustainability Director for Dell in Europe, Middle East and Africa. Her work is driven by a passion to build a better world through business. Louise believes that business holds an unlimited potential to develop sustainable solutions by activating the power of innovation, business thinking, and global relations. Louise is the focal point for Dell’s corporate sustainability in EMEA, working closely with colleagues, customers and partners to share and develop Dell’s corporate sustainability program and identify new opportunities for business development through sustainability. In February 2016 Louise was listed as the Global 100 Most Impactful CSR Leaders by the organization World CSR Day. She
MOCCAE IMAGE COURTESY WWW.WAM.AE COURTESY IMAGE MOCCAE holds a Master’s degree in anthropology and innovation from the University of Copenhagen.
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women and rural families that can now participate in the digital economy. Will the Middle East produce compa- nies of the same caliber and social im- pact? There is certainly an opportunity, thanks to three factors. The first factor is necessity. The Middle East is in dire need of ideas to bridge the massive gulf between the rich and the poor. The region leads the world in economic inequality, where the top 10% of the population enjoy about 60-66% of the region’s income. 86% of the adult population is under- banked, which means they don’t have access to services at formal financial institutions. This provides a tremen- dous market opportunity. The second factor is a wealth of ideas. Governments like the United Arab Emirates and Jordan are invest- Inclusive innovation ing in entrepreneurship and small The impact of the Middle East’s fintech boom on economic and medium enterprises, including fintech, to diversify and grow their inequality in the region by HEATHER MATRANGA and SARAH WILLIS economies, and the number of fintech companies in the region have more than doubled. Several of them have ecently, a collection of social enterprise and entrepreneur- a financial health focus. NOWMoney ship experts convened at Amity University in Dubai for the provides mobile banking technology second annual National Treasure Conference, a gather- to bring accounts and remittances to the largely unbanked 26 million low- ing focused on the role that socially responsible for-profit income migrant worker population in Rventures should play in achieving the Sustainable Develop- the GCC. Uhoncho and Ennota are two ment Goals set by the United Nations in 2015. One conversation that startups that provide unbanked small business owners and freelancers with was surely on the minds of many of the participants: will the Middle important financial tools to manage East’s fintech boom increase -or decrease- economic inequality? their expenses, track profits and losses, and conduct analysis on key business History tells us that any new The past decade has shown that fintech financials. Maliyya and Solfeh are technology can lead to one of two can be a powerful force for equality. building Sharia-compliant lending diametrically-opposed social outcomes: Blockchain, data analytics, and mobile and borrowing platforms for Muslims the technology can help balance the phone technology are evolving at break- whose religious beliefs prevent them distribution of global wealth, or it can neck speed and have shown potential from using traditional banks. deepen economic and social inequality. to bridge the gap between the rich and The financial technology (fintech) the poor. Safaricom’s mobile-money revolution in the Middle East has led platform, M-Pesa, reaches an estimated BLOCKCHAIN, DATA ANALYTICS, to just such an inflection point, but to 96% of households in Kenya, and is AND MOBILE PHONE TECHNOLOGY what end? Will the new crop of fintech credited with lifting at least 200,000 ARE EVOLVING AT BREAKNECK SPEED companies increase or decrease the Kenyan households out of poverty. AND HAVE SHOWN POTENTIAL TO staggering levels of inequality in the The Indian mobile wallet, PayTM, has BRIDGE THE GAP BETWEEN THE RICH region? nearly 200 million users, including AND THE POOR.
Heather Matranga is Senior Manager of VilCap Innovations at Sarah Willis is a Program Manager at MetLife Foundation Village Capital, where she leverages Village Capital’s expertise, where she oversees a global portfolio of financial inclusion network and award-winning programming to help institutions, initiatives focused on digital and innovation. In addition, she foundations, investors, and governments analyze, engage and leads the strategy and implementation of the Foundation’s invest in entrepreneurial solutions to create an inclusive and outcomes measurement efforts. Prior to joining MetLife sustainable world. Heather leads Village Capital’s work in the Foundation, Sarah served as a senior associate at the Clinton Middle East and North Africa. She is also the author of Breaking the Pattern. Global Initiative (CGI), where she worked on CGI’s expansion into Europe, the Most recently, Village Capital teamed up with MetLife Foundation to host a Middle East and Africa. She has designed and authored research on private Financial Health Forum in Dubai, where they provided investment readiness sector-led solutions to SME development in Turkey with the MasterCard Center support to 12 fintech entrepreneurs. for Inclusive Growth.
74 / ENTREPRENEUR.COM / August 2018 Finally, investors are paying attention. M-Pesa shows us what the second trends point to rising disparities in In 2016, fintech investment in the scenario could look like. To make the income growth– which means that Middle East totaled US$18 million. In second scenario a reality, investors the world’s poorest 10% have gained 2017, that number was surpassed with a need to look beyond the token Silicon very little, while a small concentrated single investment, a $20 million round Valley startup. Instead, investors group of people at the top have made raised by the Saudi Arabia-based pay- should focus on innovations that are significant gains. Technology for tech- ment platform PayTabs. While year-end improving the livelihoods of individu- nology’s sake won’t chip away at these results are still being counted, Wamda als and families, where the market persistent headlines. But, with the Research Lab forecasted that invest- opportunity is huge. right resources and customer-centric ment in 2017 would top $50 million. As the participants at the National lens, the fintech explosion in the Treasure Conference discussed, global Middle East is cause for hope. THE FUTURE OF FINANCIAL SERVICES WILL BE BUILT AROUND IMPROVING THE FINANCIAL HEALTH OF SOCIETY- STARTUPS PROVIDING MAKE A DIFFERENCE THE TOOLS TO HELP LOW-TO-MIDDLE APPLICATIONS INVITED FOR THIS YEAR’S C3 SOCIAL IMPACT ACCELERATOR INCOME HOUSEHOLDS BUILD PROGRAM, WHICH WILL BE A PARTNERSHIP BETWEEN C3 AND HSBC HEALTHY FINANCIAL HABITS. Social entrepreneurs, here’s an opportunity from business and social impact experts, Still, it is an open question whether for your venture to gain a boost. Consult as well as introductions to corporate these early-stage companies will get the and Coach for a Cause (C3) is partnering organizations, receive media coverage, and investment they need to scale and have with HSBC to expand the C3 Social Impact referrals to C3 and its partners networks. a broad impact like M-Pesa. What kind Accelerator program- a program that It will also feature a board simulation and of businesses will venture capital flow- supports entrepreneurs solve major social a pitch competition, and the winner of the ing to the region support? challenges, and invites applicants from program would receive an equity-free cash We see two options. One scenario: the UAE, Egypt, Kuwait, and Oman. prize of US$10,000. future of the financial services industry Out of the applicants, 20 teams would Encouraging entrepreneurs to take will be built with just existing clients be shortlisted to participate in a week-long advantage of the opportunity, Medea in mind. In this scenario, only innova- program in February 2019 that will be Nocentini, co-founder of C3, commented tions that improve the bottom line run with impact investors and other key on the program’s distinct model: “It is for large financial institutions or the experts from the social enterprise industry. designed to help entrepreneurs develop wealthiest individuals will succeed. As a To be eligible, enterprises must be opera- the skills they need to deliver their social result, inequality is exacerbated by new tional for at least two years and already business goals. It is a unique model that technologies when the only “winners” generating revenue, and have founders relies on the efforts of multiple experts, are the already-wealthy, and lower and that are committed to their enterprise and provides tailored training to those middle-income people lack access to the on a full-time basis and fluent in English. seeking to make a lasting difference and potential benefits. Startups must also be contributing to at do business differently. We are so happy to Silicon Valley provides a glimpse at least one of the UN Sustainable Develop- be partnering with HSBC on what we con- what the first scenario could look like. ment Goals, which focus on challenges sider is a one-of-a-kind impact accelerator Silicon Valley investors tend to favor like poverty, hunger, healthcare, education, program in the region.” new technologies that are on track for gender equality, clean energy and more. Working with more than 250 entrepre- high growth, but do not necessarily Participants will have the opportunity to neurs, 1,000 experts and 10 corporate improve the lives of the underserved, access workshops on generating revenue, partners, C3, currently in its sixth year in such as the “new Uber for dry cleaning best pitching practices and governance business, has sought to provide avenues services.” As one example from the and social impact measurement. Plus, to empower social enterprises. Previous financial sector, Silicon Valley investors you can also receive one-on-one support winners from C3’s Social Enterprise Impact have poured money into robo-advisory Accelerator 2017 include Democrance, an services that help people make better insurance tech company that has raised decisions about investments, but also $800,000 in a recent round, and Roots charge high fees, limiting who can Bistro, a UAE-based sustainable restau- participate in these wealth generating rant. Further, Evolvin’ Women, a platform activities. providing employment opportunities for A second scenario: the future of women from developing countries, has financial services will be built around also secured a spot in Dubai Startup Hub’s improving the financial health of soci- Market Access program. ety- startups providing the tools to help The deadline for entries is October 15, low-to-middle income households build 2018—apply today! healthy financial habits, weather finan- www.wegrowwithc3.com/social-impact-accelerator- cial shocks, and plan for the future. program
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owners to remotely monitor transactions in real time. Husban previously launched and successfully exited food delivery startup iFood in Jordan (which was acquired by Delivery Hero), and it was “WE GOT FUNDED!” while running iFood that the Jordanian realized that legacy MENA startups gain momentum: Jordan-based startup POSRocket POS systems in the region were outdated, complex, and receives a US$1.5 million boost, while UAE-based souKare raises expensive. “We struggled US$400,000 in seed funds by SINDHU HARIHARAN with point-of-sale systems,” he remembers. “We could not fully automate the pro- cess, reduce our overheads, POSROCKET further build on their accom- ing and exposing them, eliminate wrongly handled www.posrocket.com plishments, and is looking at improving their abilities and orders, nor further enhance making focused investments capabilities, self-esteem and our customer experience. Jordan-based POSRocket, in the areas of product personal lives,” Husban adds. That’s when we realized that a startup that offers cloud- research, operations manage- Launched in 2016, POS- there’s a gap.” As a software based point-of-sale (POS) ment, and talent. “In terms of Rocket develops cloud-based as a service (SaaS) company, systems to the MENA region’s R&D, we’ll continue building POS software for restaurants the product is sold in basic, businesses, has raised US$1.5 our product, improving it, and and other retailers. The pro and premium subscrip- million in a funding round adding new features,” Husban software helps small busi- tions, and customized to led by Algebra Ventures, says. “In operations, we’ll nesses to scale operations suit various merchant types. with participation from KISP build internal and external by optimizing staffing deci- And for the modern retailer Ventures, Arzan VC, Financial teams, and utilize advanced sions, managing inventory, who seeks billing systems Horizon Group, and two other tools to aid and automate. generating sales reports, and that are visually appealing, undisclosed angel investors. We’ll expand our sales to –most importantly- allowing POSRocket also sells its own With this being the second areas that are untouched in branded hardware. round of funds raised by the MENA region.” Addition- “WE WILL BE HEAVILY As the startup aims to the enterprise, founder and ally, the startup also wants to INVESTING IN OUR TEAM, change the way businesses CEO Zeid Husban notes that invest in long-term partner- IN ALL ANGLES: TRAINING, undertake the monotonous POSRocket has secured close ships to achieve their goals STRENGTHENING AND billing activity, its efforts to $2.15 million in its funding with regard to market pen- EXPOSING THEM, IMPROVING to bring in automation and to-date. etration. “We will be heavily THEIR ABILITIES AND efficiency at the point of sale The startup aims to utilize investing in our team, in all CAPABILITIES, SELF-ESTEEM has also been recognized the funding proceeds to angles: training, strengthen- AND PERSONAL LIVES.” by regional VC firm Jabbar Internet Group and Jordan- based accelerator Propellor Inc., who were part of the startup’s initial funding round. “Looking back at the first round of investment, we successfully solidified our value proposition, employed the right talent, crafted our operations, and embossed our brand identity in the Jorda- nian and Egyptian markets,” says Husban. With regard to the current funding, Husban believes that having an op- eration in Egypt opened the doors for them to access local investors. “Algebra Ventures are very well known for back- ing some of Egypt’s most suc- POSRocket team IMAGE CREDIT POSROCKET CREDIT IMAGE
76 / ENTREPRENEUR.COM / August 2018 their field, and know exactly how to calculate risks and where to -and not to- invest,” he says. Algebra Ventures invests in early-stage technol- ogy startups that have the potential to transform busi- ness sectors across Egypt and MENA, and their core areas of interest include technology, fintech, business software and platforms, marketplaces, and consumer internet. Husban, who’s already man- ‘TREP TALK Zeid Husban, founder and CEO, POSRocket aged a food tech venture, also ensured that he leveraged his Zeid Husban, founder and CEO, existing business networks in POSRocket cessful tech startups. After “LOOKING BACK AT charting a customer acquisi- What are your three top tips closing the first round, I met THE FIRST ROUND tion strategy for POSRocket. for the region’s startups to Ziad Mokhtar in Egypt dur- OF INVESTMENT, WE As a result, the majority of pitch and clinch funding for ing a business trip. Our talk SUCCESSFULLY SOLIDIFIED the SaaS company’s custom- their ventures? that day established a belief OUR VALUE PROPOSITION, ers hail from the MENA’s “Firstly, a clear pitch deck in the vision and a com- EMPLOYED THE RIGHT booming F&B vertical. including clear well-calculated mon foundation of interest, TALENT, CRAFTED OUR “Restaurants are opening up numbers, in addition to a leading Algebra Ventures to OPERATIONS, AND almost everyday making it a sensible valuation and a become the lead investors in EMBOSSED OUR BRAND very attractive segment. Nev- reasonable ask. Secondly, show this round,” he explains. The IDENTITY IN THE JORDANIAN ertheless, our product is de- a balance between intellectual process, he says, was fairly AND EGYPTIAN MARKETS.” signed and proven to cater to property and revenue. If the logical and straightforward. other verticals including -but scale is slightly tipping to one “We shared documents and strategy of growing the POS not limited to– retail such as end, it’ll be very tough! Thirdly commenced through T&Cs, market in the Middle East, boutique and mobile shops, and most importantly, [have] which normally goes a few starting with small and services such as salons, spas a great story to tell. It’s got times back and forth. Algebra medium businesses. Husban and dry cleaners, entertain- to be; if it ain’t innovative, Ventures then proceeded with can’t stress enough on the ment such as sports venues, impactful and inspirational, it their due diligence, subse- importance of “being on the kids and activity centers.” simply won’t sell, and certainly quently bringing this round same page with investors” The product is especially will not deliver.” to a close.” for him, as a startup founder. a good fit for SMEs, since As for the investor Algebra “Their [investors’] knowl- being cloud-based, custom- Ventures, its Managing edge and input are essential ers don’t need to set up any the “hometown” factor can Partner Ziad Mokhtar is in drawing strategies and servers or complex network help entrepreneurs leverage clearly buoyed about the tactics. They are veterans in infrastructure, nor need an lifelong relations. “Jordan firm’s investment in the IT professional to maintain has the potential to mature Jordan startup. “POSRocket the system. “We allow small into a notable tech hub for brings together an excellent business owners to invest in the MENA region, but needs team, a compelling product a POS system that is built to be given time,” he says, vision, and a sizable market,” for them, utilize over 90% of drawing attention to the says Mokhtar. “We are the features and pay only a improved government sup- impressed by Zeid’s and his small monthly fee, as opposed port in recent times. “It is not team’s previous experiences to traditional point of sale,” perfect however; Jordan is and how they are manag- Husban explains. small, and businesses cannot ing POSRocket. They are Having launched in Jordan scale within,” he adds. Having transforming the way F&B -a nation commonly regarded said that, it’s possible that and retail use technology in as a source for quality tech the efforts and success stories an increasingly connected talent in MENA- Husban of entrepreneurs like Husban world. They are also changing believes that Jordan’s busi- can definitely help improve the way different innovative ness ecosystem “is a great prospects for Jordan’s future startups can collaborate.” He market to MVP.” Most entrepreneurs- and that’s also agrees with, and sees a Ziad Mokhtar, Managing Partner, importantly, hailing from the something worth looking clear upside in POSRocket’s Algebra Ventures country, he also believes that forward to. >>>
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SOUKARE the UAE and KSA. The com- www.soukare.com pany believes that its unique value proposition “lies in its souKare.com, a Dubai-based customer centric approach, lifestyle and healthcare including 90-minute home e-commerce platform, has delivery for all in-stock items raised US$400,000 in seed within Dubai, and express funding from GCC-based angel shipping worldwide.” investors including CEOs, “Going forward, with the partners and senior manage- funding proceeds, our first ment professionals belonging goal would be to maintain and to consulting firms, private further optimize our highly equity, and startups, among reviewed customer experi- others. This is the startup’s ence, and secondly to expand first fundraising round involv- the product collection,” says ing external investors. Faraz Khan, founder and CEO, Launched initially as an souKare.com, speaking about souKare.com products online store for contact lenses the investment. “This would in the UAE, souKare subse- involve further broadening quently piloted to deal in fit- the fitness category, as well “GOING FORWARD, WITH Khan also points out that the ness and other lifestyle items, as including more products to THE FUNDING PROCEEDS, e-commerce portal commit- and is now currently live in complete the healthcare and OUR FIRST GOAL WOULD ted to 90-minute delivery lifestyle segment needs. Geo- BE TO MAINTAIN AND for all in-stock items within graphic expansion is also on Dubai, from the first day of Faraz Khan, FURTHER OPTIMIZE founder, the roadmap, primarily across OUR HIGHLY REVIEWED their launch, and have been souKare.com the broader MENA region.” fulfilling it through a number Providing access to a portfo- CUSTOMER EXPERIENCE, of highly optimized processes. lio of brands such as Acuvue, AND SECONDLY TO “These include our delivery Solotica, Bella, Optimum EXPAND THE PRODUCT confirmation process where Nutrition, and many others, COLLECTION.” every customer is called as entrepreneur Khan takes pride soon as the order is placed in the ease of ordering, the he says. “The online website to schedule delivery; our 90-minute delivery premise, experience, instant calls to dedicated fleet of bikers are multiple payment options, customers for order confirma- then dispatched through a and the after-sales support tion, delivery scheduling, customized dispatch process that souKare.com provides its and real-time delivery are that enables them to fulfill users. “There are currently no unmatched in the market, ul- the orders within the given companies offering the same timately differentiating souK- timeframe,” he notes. product mix or service level are from other lifestyle/health Offering the investor commitment as souKare,” e-commerce enterprises.” perspective, Yousuf Siddiki, Partner, ValuStrat -and an investor in souKare- said in a statement: “I see great poten- tial in the online market for lifestyle and healthcare prod- ucts and services. I am a big believer in souKare’s vision to provide a simpler, safer and superior solution to custom- ers, and redefine the sector.” “THERE ARE CURRENTLY NO COMPANIES OFFERING THE SAME PRODUCT MIX OR SERVICE LEVEL COMMITMENT AS SOUKARE.” IMAGE CREDIT SOUKARE CREDIT IMAGE
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Left to right: Calio co-founders with five years of experience Baluch firmly believes that it Ramy Al Kadhi of digital advertising at Om- is the utility of the underlying and Latif Baluch nicom Media Group, as well service that often determines as an entrepreneurial venture success of an app. As for of his own. The enterprising how this applies to Calio, Al duo launched Calio on the iOS Kadhi says that the digital platform first, and then on explosion around us has cre- Android shortly after, with the ated an undeniable need for a app aiming to help users con- tool that allows people to be nect with family and friends, more productive and do more share and schedule events, with their time. He adds that create reminders, and more. the acquisition of electronic The app also has a feature calendar service Sunrise by enabling you to follow your Microsoft in 2015 (and its favorite local businesses (a.k.a subsequent merger with the “hosts”) to discover events, larger Microsoft Outlook en- SOLVING and get them added straight terprise) convinced the Calio to the calendar- events get team that there was an obvi- their own chat interfaces ous market demand for a more THE SOCIAL too. Not just that, Calio also personal calendar service, that syncs with other conventional was strong on design. “Lastly, PARADOX calendar tech platforms such we’re noticing an obvious as Gmail, Outlook, etc., and trend toward aggregation; [for Latif Baluch and Ramy Al Kadhi social platforms like Facebook instance] Twitter for News, as well. Baluch says that while Medium for Blogs, Instagram Calio’s founders want to update Calio has been generating rev- for Photos, and [similarly, it your calendar app by SINDHU HARIHARAN enue, it hasn’t made a profit can be] Calio for events and as yet- but that’s something bookings,” Al Kadhi says. the founders don’t seem to be Baluch adds, “Calendars on espite its name, most personal lives.” This ultimate- too worried about, given their your smartphone are quite people would agree ly became the catalyst that game-plan for the venture. basic and the technology has that social media got him and Al Kadhi to start “Many startups immedi- is anti-social at its their enterprise, Calio, an ately focus their attention on “WE’RE BUILDING THE D best- that’s what the events platform and calendar growth; all our resources are TOOLS FOR BUSINESSES entrepreneurs behind tech- app, in October 2017. While [currently] focused on devel- TO INTEGRATE WITH nology startup Calio refer to researching on the technolo- oping an incredible product, CALIO, CREATE THEIR OWN as the “social paradox,” with gies around social activities and building a community,” CONTENT AND ENGAGE co-founder Latif Baluch saying and events, Baluch and Al Baluch explains. Though the WITH THEIR USERS. THIS IS MORE SCALABLE.” that though such technology Kadhi soon realized that product is in its early stages, was built to bring people though millions of people use the entrepreneur is quite clear closer, it’s actually taking us calendars every day, most of of its evolution. “Once Calio is further away from each other. which were quite functional, mature, it will essentially be “People spend a huge amount these were still perceived as a marketplace between users [of time] on social media, being too “corporate” or for- and businesses,” he predicts. connecting with their friends, mal, and not much fun to use “For users, we’ll have a free- but they can’t get through a for one’s personal needs. This mium model, subscribing to dinner without being on their led to the conceptualization premium for additional calen- phones,” says Baluch, who and creation of Calio- a calen- dar features; from businesses, noted this to be an issue he dar app that’s more personal, we’ll generate revenue by was facing with his own best more social, and also connects allowing them to sell tickets, friend, Ramy Al Kadhi. “De- you with communities and and advertise certain events spite being best friends, we businesses of choice around on our platform. We’re also struggled to actually see each you. building smart integrations other,” remembers Baluch. While Baluch left a cushy and white label solutions.” “Working in quite intense sec- corporate position at Bank Cognizant of the fact that tors, we quickly learnt the im- of America Merrill Lynch to apps and app-based busi- portance of a well-organized teach himself to design and nesses are, often, on a stand- work calendar- unfortunately, code before starting Calio, Al alone basis, very difficult this didn’t translate to our Kadhi came to the enterprise to monetize at a large scale, Calio app IMAGE CREDIT CALIO CREDIT IMAGE
80 / ENTREPRENEUR.COM / August 2018 not really evolved in the last that the biggest issue most or on messaging apps. We’re 10 years. There are alternative app businesses face is that of tackling this through product calendar apps that have nice user retention, but remains design and branding- build- UI, but don’t really have their confident that users would ing something that’s familiar own robust infrastructure; stick and return to the Calio enough it’s easy to use, but they use your Google or Out- platform with continuous with unique enough features look calendar data.” And the usage. And the other thing that give that ‘wow’ factor,” fact that Calio is building such that seems to be moving in he says. On the other hand, Al a calendar technology from a positive trend for Calio is Kadhi is keen on ensuring the scratch is an aspect Baluch the adoption of its product. quality of events that’s hosted counts among its differentia- “We’re constantly speaking to or promoted on Calio. “We’re tors. users, and doing focus groups being selective on which busi- Established in London as to get feedback,” says Baluch. nesses can create accounts its headquarters, Calio may “Data-wise, we focus on real on Calio. We need to be wary not be a MENA startup in the engagement, which is a user not to be short-sighted when strictest sense of the term, but Calio app actually creating an event, allowing businesses onto the besides the founders’ own ori- joining an event, or connect- platform; often a difficult gins, the app reports to have catalyze this.” Al Kadhi feels ing with a business account. choice when revenue comes roughly 1,500 MENA-based that talent could be another Looking at our May cohort into play,” notes a pragmatic users (at the time of writing) factor slowing the progress [data], 66% of new users Al Kadhi. The startup may without any paid marketing for the region. “Being a rela- were engaged.” Rated 4.7 on have a tough road ahead- but initiatives. “Apple featured tively young market, there is a Apple’s App Store (“without Al Kadhi and Baluch are sure us across the Middle East in smaller pool of highly skilled prompting people to rate”), a Calio can get through it all March [2018], highlighting talent to hire from. In a world look through Calio’s reviews the same. All the best to the our ability to sync all your where tech is so important, on both the iOS and Android entrepreneurs! calendars in one place,” says there just aren’t many world- store can give you a feel of Al Kadhi. “Given the startup class designers or developers the satisfaction levels when it ecosystem, we decided to set in the MENA. Then, once your comes to the user experience, ‘TREP TALK up HQ in London. Once we product is ready, you need convenience, and utility of the Ramy Al Kadhi, co-founder and raise seed funds, we will hire people who have experience product. Growth Lead, Calio some full-time employees in in scaling a business. In the While it is a venture born Dubai. In Dubai, our focus will region, there are just less out of sleepless nights, a lot What are your top three tips be to organize and sponsor a people who have done it. of hustling, and almost all of for an entrepreneur to start a lot of events, predominantly The shorter-term solution to the financial savings of the business? supporting the art and well- attract from abroad, but as a entrepreneurial duo, Calio ness communities. We will startup, this can be really dif- has also managed to secure 1. Find role models kick off with a big Calio art ficult given the visa process.” angel investment of £135,000 “In my time at Omnicom, I was exhibition when the weather As the mobile apps market (approx. US$177,000) from lucky to meet Elie Khouri, CEO cools down.” Baluch cites (and especially social plat- undisclosed investors, and of the company. Throughout my London’s support system, forms) experiences exploding though the amount may not time, he had an open-door policy, funding initiatives and ac- growth, the creators of Calio be a lot in the space in which and always encouraged me to cess to talent as key reasons are well aware that their prod- they operate, the founders explore my ideas, and harness Calio decided to set up base uct has its work cut out to say they are quite happy with my entrepreneurial spirit.” in the city, before opening up stand out in such a crowded how far they’ve come since in Dubai. As for the MENA’s space. “[A] core difference their launch. However, like 2. Get rid of your ego entrepreneurial ecosystem, between us and other events all entrepreneurs who are “You can’t really run a business Baluch says that it’s “heading or social apps is our calen- steadfast in their goals, the with a big ego, as you need to in the right direction, but it’s dar focus,” Baluch says. “A founders of Calio too have tough it out, and learn to know still very young, and frankly, good calendar is useful on a a clear idea of the key chal- when you’re wrong. The startup quite far behind other re- standalone basis (i.e. without lenges the business needs to life is not as glamorous as it gions.” Baluch believes that in friends or access to events).” adapt to, in order to scale. might seem!” order to improve the mindset The second differentiation Baluch believes that tackling and attitude towards tech he notes is their business social behavior is likely to be a 3. Just start startups, the region “needs model itself. “We’re building key issue to tackle for Calio to “If you have an idea, just get to change from all parties the tools for businesses to grow. “Calendars are generally going; ask for that meeting, involved- founders, investors, integrate with Calio, create seen as a work or corporate design that first app page, or and society as a whole, [and] their own content and engage tool, and most people spend write down the business plan. recent exits like Souq.com and with their users. This is more their time on their phones Motion leads to momentum!” Talabat have certainly helped scalable.” He also realizes scrolling through social media
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nition. Our clients sign up for long-term contracts, and they recommend us to their partners. Staff turnover rates in big companies are high, and this is why we work hard on building strong relation- ships with all the people we work with, from the secre- tary to the general manager. We believe in respecting others, in treating others the way we would wish to be treated. You can never go wrong with that, because people understand that we don’t want their money, but that we want them to suc- ceed, which in turn becomes our success as well.” Sabina Marini, founder and CEO, Marini describes herself as Haute PR + STYLE being straightforward and as an entrepreneur who does not take “no” for an answer. “My style might not work for you if you want to start Industry insiders with a bang on day one,” she says. “I don’t over-promise HAUTE PR + STYLE’S SABINA MARINI AND SAIF SAUD but I over-deliver, and I put “The professionalism of our work is our business card.” my heart and soul into what I do. It has to be perfect, by TAMARA PUPIC irreproachable. For that reason, the main lesson I have learnt is that you might abina Marini, brands from its headquarters “WE ARE THE INDUSTRY get a no, a rejection, a snub founder and CEO of in Dubai and operational from people who think they Haute PR + STYLE, divisions in Riyadh, Jeddah, INSIDERS WITH THE BEST are better than you at times an international Paris, Milan, and London. “I CONNECTIONS IN THE or older than you, but this consultancy on started from scratch, little EAST AND THE WEST, BUT should never stop you from S event management, by little,” Marini says. “I am achieving your goals. If you THIS WAS NOT A ONE- public relations, fashion Italian, so we keep things in persist in your vision, plan styling and image develop- the family. I don’t depend DAY WONDER; IT TOOK for it, and create momentum, ment, was only 15 years old on anyone financially, but 15 YEARS TO BUILD AND you willl succeed. I believe when she decided that, one only on the fruit of my work. DEVELOP.” that having a clear vision and day, should would be her For that reason, Haute PR + good time management in- own boss. Over the ensuing STYLE is the result of years Haute PR + STYLE prides evitably creates momentum, years, this determination of perseverance and continu- itself in having a well- momentum creates visibility, influenced many decisions ous learning. It is built on balanced pool of talent which and visibility creates trust.” she would make, from the word of mouth about our combines the knowledge and Last year, Marini added a school she would attend, the success. The professionalism experience across geogra- new business division for Im- company she would intern of our work is our business phies. All of her staff, Marini age Development and Talent in, the person she would card, and for that reason, explains, have a penchant Management led by the com- consider her mentor, the city we don’t advertise. We are for building long-standing re- pany’s Partner and COO Saif she would live in, and so on. the industry insiders with lationships, as she considers Saud, who has been tasked 15 years later, her business the best connections in the the company’s “network to with connecting internation- Haute PR + STYLE covers the East and the West, but this be its net worth.” She adds, ally recognized brands with full spectrum of public rela- was not a one-day wonder; “We don’t look for personal locally acclaimed talents. tions needs for some of the it took 15 years to build and fame, but for our clients’ “For me as a Saudi business- world’s most recognizable develop.” continuous trust and recog- man, the main reason behind IMAGE CREDIT HAUTE PR + STYLE + PR HAUTE CREDIT IMAGE
82 / ENTREPRENEUR.COM / August 2018 establishing Haute PR + “I’M A STRONG BELIEVER with the best always makes around me.” On her personal STYLE’s Talent Management things easier. A big name like agenda is meeting at least division was to help athletes THAT SAUDI ARABIAN Al Muwallad’s makes a good two new people daily that is and artists from Saudi ATHLETES HAVE WHAT IT investment for any company, aimed at growing not only Arabia and the GCC, and to TAKES TO BE ENDORSED but this is where our work her network, but expanding contribute to the new vision AND SPONSORED BY THE and reputation come in– hav- her horizons, which she of Saudi Arabia 2030,” Saud ing a good relationship with considers to be the secret of says. “As we all know, sports BIGGEST AND THE BEST the biggest companies in discovering and understand- and arts play a significant NAMES IN THE WORLD.” the world and a good track ing potential opportunities. role here, and my dream is to record, and successful col- Similarly, she inspires her bring the US experience to and artists, such as Saeed Al laborations with them made team to continue growing the GCC and to Saudi Arabia. Muwallad, a Saudi profes- it easier for us to connect as well. “We always put the If you want your athletes and sional footballer for Pro- them with Al Muwallad.” team in situations where they champions to shine, you need League club Al-Ahli and the The company’s commitment can really learn,” she says. “I to find them good reliable Saudi Arabian national team; to its clients is also visible went to one of the best busi- partners to sponsor them. Mohammed Al-Owais, a Sau- through Marini’s leadership ness schools in Europe, and Starting from sports equip- di professional goalkeeper for style- her days last 18 hours, yet, I learnt the best lessons ment companies to fashion Al-Ahli and the Saudi Ara- she says, and she makes it through practice- learning houses, our team makes sure bian national team; and the a point to be reachable on how processes, minds, and that our athletes get the winner of the fourth season three phone numbers and hearts work. I still believe sponsorships they deserve. of The X Factor Middle East, three email accounts at all that a good school is vital It’s a new market, and it’s a Hamza Hawsawi. “Our goal times. “I am very hands-on, to access the best jobs, but big challenge, and we’ve seen is to work with the best, and and this is what my clients it’s not enough if you are not a lot of athletes turned into we were very lucky to sign like about me,” she says. “I ready to roll up your sleeves.” fashion and media icons like a deal with Al Muwallad,” try to reply to all my clients’ Marini’s main advice for Cristiano Ronaldo, LeBron Saud says. “As he was the emails personally, and I am other entrepreneurs is two- James, Lewis Hamilton, first superstar to sign with the first one to turn up for fold. Firstly, they should and Usain Bolt. I’m a strong Haute PR + STYLE, it was a event set-ups. I check on maintain cash flow at all believer that Saudi Arabian true challenge in every as- my teams in the different times, keeping in mind that athletes have what it takes to pect, especially because our markets every day, call my when things get rough, they be endorsed and sponsored talent and image consultancy partners, touch base with will be the ones who have to by the biggest and the best management division was my collaborators, my clients, keep boats afloat. Secondly, names in the world.” brand new, so we had to map the influencers with whom she advises a balanced ap- Saud’s conviction has been out a plan with the help of I work regularly, and I make proach to promoting oneself. recognized by Saudi athletes our marketing team. Working sure I know what’s going on “It might be a paradox, but as a PR expert, I advise people not to give out too much information and too often,” Marini concludes. “We work mostly with luxury and life- style brands, and I treat my clients’ image as I deal with a luxury brand, which means that being in someone’s face is not a style you want to adopt. It goes with the way you dress, the way you speak, the way you appear in public and online. For some people, even bad news is news, [but] not for us. We don’t play with people’s reputations, and the way this can impact their personal life. This is why we are called HAUTE, we don’t cater for everyone, Saif Saud, we tailor for those who un- Partner and COO, derstand, and consequently, Haute PR + STYLE trust us.”
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for operators seeking to make the most of the immense opportunity available Investing in success in the millennial market, it will be vital Telcos can (and should) play a vital role in the success of to cater to these needs. In the face of a global technological transformation, millennial entrepreneurs in the Middle East by HANY FAHMY ALY entrepreneurial endeavors will come to depend largely, if not entirely, on the availability of advanced digital service uch like many other aspects of is where telecoms operators come in. As and solutions– and it will be up to telcos modern life and business, mil- businesses become increasingly digi- to ensure that they can prosper. lennials have come to dominate tal every day, telcos provide necessary Equipping entrepreneurs with the tools M the entrepreneurial landscape. resources such as IT tools and services, and technologies that will enable them to They have all the right characteristics to digital infrastructure, and connectivity– succeed is a mutually beneficial under- make waves as entrepreneurs: not only all of which are vital in entrepreneur- taking for both provider and recipient. do they comprise one of the largest gen- ial endeavors. Millennials are already By creating new business models tailored erations in history, but they are also the equipped with the ambition, vision, to meet the needs and foster the growth most educated and the most technologi- and disruptive mindset they need to get of millennial entrepreneurs, operators cally versed generation. This is especially their business ventures off the ground, can capture the market opportunities true in the Middle East, which boasts the but without the right digital resources, that come with providing for an unprece- largest proportion of millennial entre- they will scarcely move beyond the early dentedly large and influential generation. preneurs in the world, according to a stages of business development. By investing in the success of the world’s recent report by HSBC Private Bank. It is not by coincidence that the now- young business leaders, telcos are paving Millennials are driven towards en- pervasive global giants that began as the way for technological evolution and trepreneurship by their desire to work millennial-founded startups, such as adaptation– which is vital for their long- autonomously combined with their Uber, Venmo, and Airbnb, operate almost term sustainability. eagerness to make a difference in the exclusively through digital means. Their In the Middle East, telecoms providers world. They are a career-oriented cohort founders saw an opportunity in digitali- are already making strides to nurture with a knack for creativity and innova- zation and seized it, and as the world has the entrepreneurial spirit in millennials. tion– and in the Middle East, a region grown increasingly dependent on tech- For example, du, the leading telco in the known as a global innovation hub built nology, they have continued to capitalize UAE, has undertaken a range of initia- on a foundation of technological develop- on this trend. Their success has grown in tives designed to help entrepreneurs ment, millennials are poised to lead the tandem with the presence and availabil- build sustainable businesses. With ser- entrepreneurial charge in the coming ity of connectivity, and information and vices and solutions including WiFi UAE, years. communications technology (ICT) on a a nationwide service that provides WiFi In today’s digitally driven world, mil- global scale, reflecting the value of digital access to the public; and Smart Con- lennial entrepreneurs have an advan- resources in entrepreneurial success. cierge, which uses blockchain technology tage over their older counterparts from In order for budding entrepreneurs to to help businesses streamline and solve previous generations. They are the compete with larger and more estab- visitor management problems, du is sup- world’s first digital natives, having grown lished entities, they must have access porting entrepreneurship and connected up with smartphones and the internet to the same digital resources. Afford- business across the UAE. always available, and as such, they are able and accessible digital services have For operators in an age of digitalization, more knowledgeable and comfortable become a necessity in this regard, and entrepreneurship presents an oppor- with the technology that has shaped tunity to increase footprint through our modern lives. They are intellectu- providing connectivity infrastructure and ally equipped to conquer the world’s business services through the disruptive challenges and build businesses that can technologies that align with the disrup- flourish– but just as technology works in tive entrepreneurial business model. their favor as entrepreneurs, so too does As millennials continue to infiltrate the it hinder them. entrepreneurial space in the coming To succeed in today’s competitive busi- years, it will be in the operators’ best ness landscape, entrepreneurs must have interest to devise a plan to cater to bud- access to the digital tools and technolo- ding entrepreneurs’ needs in terms of gies that have become commonplace in connectivity, digital resources, and ICT established companies’ operations. This solutions.
Hany Fahmy Aly is Executive Vice President – Enterprise Business at du. Hany brings more than 18 years of experience to his position at du, where he heads up the company’s Enterprise Business division. His past experience leaves him well-positioned to do this, having worked in diverse sectors such as marketing, sales, customer experience and relationship management, with a strong foundation of financial skills. Prior to joining du in 2013, Hany worked with Vodafone in Egypt, where he spent 13 years working up to the position of Chief Business Officer. Hany started his professional career with Procter and Gamble in Egypt. Hany holds a Master of Business Administration from Columbia Business School in New York, from which he graduated with honors.
84 / ENTREPRENEUR.COM / August 2018 Take your business to new heights. Business Complete Give your business all the tools it needs to reach its maximum potential with our Business Complete Plan.
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