Entrepreneur Middle East March 2015 | Capturing Niche Clientele by Entrepreneur Middle East

Trying to sway a VC in your favor? Five questions that can make or break the deal

Capturing niche clientele Luxury leadership, magnetic (targeted)

marketing, and industry influence tactics for the significant spend threshold Honing your companyâ&#x20AC;&#x2122;s prestige product message with subtlety

HRH Princess Reema Bint Bandar Al Saud Mohammed Abdul Rahim Al Fahim

Umberto Maria Cini Faisal Ghazi Kayal Dr. Rainer Behne Mahir Ali Peter Harrison

Rami Al Ali Omar Hikal Geoffrey Nejman Dipesh Depala Ayman Fakoussa

77231 1 541 008 > 99 772311 541008 MARCH 2015 | www.entrepreneur.com/me | UAE AED20

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MARCH 2015

CONTENTS

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18 INNOVATOR: Capturing niche clientele

Cantieri Di Pisa image courtesy behnemar middle east

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

HRH Princess Reema bint Bandar Al Saud Mohammed Abdul Rahim Al Fahim Faisal Ghazi Kayal Umberto Maria Cini Peter Harrison Omar Hikal Dr. Rainer Behne Rami Al Ali

Geoffrey Nejman Mahir Ali Honing your company’s prestige product message with subtlety

12 EDITOR’S NOTE By Fida Z. Chaaban

48 ‘TREPONOMICS: SKILLSET

Aspiring alignment The aspirations of your employees can benefit your company, too. Bayt.com’s findings tell you how to work them in your enterprise’s favor. 19 Capturing niche clientele: Mohammed Abdul Rahim Al Fahim

65 ASK A PRO

Considering entrepreneurship? Global entrepreneur James Dyson shares five things you need to be aware of before you start your business, exclusively for MENA readers.

72 SKILLSET

The candy trigger and you James Clear, Olympian and entrepreneur, says that selling candy bars can teach you a lot about building better habitsafter reading why he thinks so, we’re inclined to agree.

MARCH 2015 Entrepreneur

CONTENTS

MARCH 2015

‘TREPONOMICS: ESQUIRE GUY

ONLINE ‘TREP

MONEY: VC VIEWPOINT

Why grabbing a coffee has to go Ross McCammon talks about problem with grabbing anythingespecially how useless it is in a business context. “It’s the buckshot of socializing professionally.”

56 TECH: SHINY

#TamTalksTech 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.

Penetrating your online target market There are a multitude of free tools online that cater to the innovative mind, but there are still roadblocks in the way to building a solid digital presence. Alex Rauser explains why you need to spend some digi-marketing money.

56 #TamTalksTech: TimeWalker Urban Speed e-Strap

Swaying a VC in your favour Five questions that can make or break the deal your startup’s venture capital backing. BECO Capital CEO Dany Farha on what would make him invest in your company.

54 THE FIX

SMEs are getting more connected du’s Executive Vice President of Enterprise Business Hany Fahmy Aly talks about SME connectivity needs, and what to look for from your telco.

60 68 Home away from home: Four Seasons Doha wants you to move right in, and stay awhile

THE FRONTRUNNER: Umberto Maria72 Cini,Artistic inclinations Managing Director Maserati General Overseas Markets

Entrepreneur MARCH 2015

CONTENTS

MARCH 2015

62 The Venture: Nicholas Cox, Brand Manager Pernod Ricard Gulf, briefing the judges before the finalist pitching sessions

LIFE

WACKY IDEA

Say it like you mean it

Name game

Seven ways you can establish loyalty (and even love) in your team. It’s actually easier than you think.

asamies.com co-founder Ahmad Abdelraziq talks premium MENA-friendly domains, and even the new Arabic.

STARTUP FINANCE

START IT UP: Q+A

Adopting the lean startup approach Professor of Technology and Operations Management at INSEAD, Serguei Netessine, says that social entrepreneurs can improve their success-rate by trimming down.

CULTURE: TRAVEL

TRAPPINGS

‘Trep gear

Paying in a hot minute (or five)

An eye for the exceptional

The executive selection for the entrepreneur on your list that has everything. Okay, maybe for a little selfreward as well.

White joins the ultimate MENA e-commerce solution race, and they’ve definitely got their work cut out for them.

The GM of “The Best Hotel in the World” expects even more than you do from your business travel experience.

62 40

The F 015 Luxury in Motion concept car by Mercedes-Benz has set the bar for self-driving vehicles.

Entrepreneur MARCH 2015

The GM of “The Best Hotel in the World” expects even more than you do from your business travel experience.

MIDDLE EAST SUBSCRIBE EDITOR IN CHIEF Fida Z. Chaaban editor@bncpublishing.net MANAGING DIRECTOR Walid Zok walid@bncpublishing.net DIRECTOR Rabih Najm rabih@bncpublishing.net DIRECTOR Wissam Younane wissam@bncpublishing.net PUBLISHER Nehme Abouzeid MANAGING EDITOR Aby Sam Thomas CREATIVE LEAD Odette Kahwagi ONLINE LIAISON Kareem Chehayeb COLUMNIST Pamella de Leon CONTRIBUTING WRITERS Amal Chaaban Youmna Chagoury Tamara Clarke James Clear Dipesh Depala James Dyson Dany Farha Ayman Fakoussa Simon Hudson

Suhail Al-Masri Ross McCammon Shoug Al Nafisi Rani Nasr Serguei Netessine Alexander Rauser Brett Relander May Rostom Erika Widen

Images used in Entrepreneur Middle East are credited when necessary. Attributed use of copyrighted images with permission. All images not credited otherwise Shutterstock.

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

Entrepreneur MARCH 2015

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EDITOR’S NOTE

Make it your own

Adapting then adopting effective (and established) big player practices can boost your business

know what you’re thinking. “Just because it works for them doesn’t mean it’ll work for me.” I agree with you on that point- we run Entrepreneur with that exact mindset. But adapting and then adopting does work, and for proof of that, you only have to look at many of the entrepreneurial success stories across the MENA region. Many

Below: Editor in Chief Fida Chaaban with Angela Missoni, Missoni Creative Director in Dubai, UAE, and Rosemin Manji, Fashion Director RR&Co. Bespoke Luxury Management

Entrepreneur MARCH 2015

Middle Eastern ‘treps have basically taken profitable models from North America and localized them for this market. In keeping with our brand direction, this issue we’ve brought you strategic advice and tactical suggestions to capture the niche client. We decided that focusing on businesspeople leading companies that had a track record of courting (and keeping) MENA region clients who cross the significant spend threshold was a worthwhile topic to explore on an in-depth one-to-one interview level. (Especially since there really is quite a big demographic for prestige everything in this region.) While not all entrepreneurs are operating businesses that seek to capture the prestige client, we still think that you can learn from the method of these companies. Adapt their successful practices to suit the scale and customer base of your business or service. Some factors in caring for the niche client hold true across every industry and at spend level; customer privacy for one, especially in today’s age of oversharing, is of tantamount importance. Another? Customer referrals can often be the make or break factor for any business, and that is especially relevant for serviceoriented companies.

I think my bio image this month is fitting for an issue centered around luxury businesses. I had the pleasure of meeting Missoni’s Creative Director Angela Missoni at the re-launch of Missoni Dubai in February. Hosted by Rosemin Manji, one the region’s most successful prestige brand alliance experts, the revamped flagship outlet at the Mall of the Emirates, a part of Boutique 1, staged an event complete with an onsite fashion sketch artist working in paint. Guests tweeted and Instagrammed the night away, and you can see some of their images by searching #MissoniDubai- look out for the autographs and personalized sketches. If you haven’t yet joined us online, do reach out to us on any of our social media platforms. I look forward to hearing from you via Twitter or email.

Fida Z. Chaaban Editor in Chief @fida editor@bncpublishing.net

IN THE LOOP QIA acquires major London financial center

Right to left: Emad Shihab, Secretary General, General Union of Chambers of Commerce, Industry and Agriculture of the Arab Countries, Abdullah Al Saleh, Undersecretary for Foreign Trade and Industry, UAE Ministry of Economy, Humaid Bin Salem, Secretary General, Federation of UAE Chambers of Commerce and Industry

The Qatar Investment Authority (QIA) has completed yet another major acquisition: London’s Canary Wharf. After many failed attempts, Songbird Estates, which owns 70% of the Canary Wharf Group, caved in for a US$4 billion bid by the QIA. Prior to the bid, Qatar owned 29% of Songbird Estates, and it had to challenge three major shareholders who owned 50%: New Yorkbased investor Simon Glick, Morgan Stanley and the China Investment Corporation. It’s also worth mentioning that Canada’s Brookfield Properties, who were involved with QIA in the acquisition, already owned 22% of the Canary Wharf Group.

Abu Dhabi to host 17th Arab Investors and Businessmen Conference

he UAE Ministry of Economy has announced that the 17th edition of the Arab Investors and Businessmen Conference will take place in Abu Dhabi on November 11 and 12, 2015. This year’s installment of the pan-Arab economic and investment event has been themed “Investment in Innovations and Entrepreneurship,” and it is hoping to build on the success of its previous editions- the conference is expecting to host over 1,000 investors

from across the region, as well as executives from financial institutions, business chambers and other institutions. The event is being held under the collaboration of the UAE Ministry of Economy, General Secretariat of the Arab League, Federation of UAE Chambers of Commerce and Industry, General Union of Chambers of Commerce, Industry and Agriculture of the Arab Countries, and the Arab Investment and Export Credit Guarantee Corporation.

U.S. brigade of 4000 travels to Kuwait Over 4000 troops based in Colorado’s Fort Carson left to Kuwait in February, adding to the intense speculation about the U.S. sending ground troops to combat the Islamic State (IS). These soldiers aren’t newcomers either, as

Entrepreneur MARCH 2015

many have already been part of one or more tours in Iraq. This takes things to a whole new level, given that the American-led coalition, including the United Kingdom, Jordan, Saudi Arabia, and the UAE, have primarily approached the operation via airstrikes. This excludes the autonomous Southern Kurdistan region, whose military force, the Peshmerga, have been the most active on the ground against the IS. While Obama stressed that he does not want to use heavy military force, he urged U.S. Congresss to allow him to authorize more military intervention. This comes at a time when IS presence in North Africa has become visible, opening a new front for the coalition.

Many major banks, firms and other businesses including HSBC, Barclays, Morgan Stanley, and Bank of America Merrill Lynch, have their European or world headquarters setup at Canary Wharf. The district is also working on its first residential building, and it’s also gearing up for further expansion. Despite surpassing previous major acquisitions (QIF’s subsidiary Qatar Holdings purchased department store Harrods for US$2.3 billion in 2010), could QIA’s investments get bigger than this? There could be a financial institution or two in the now QIA-owned Canary Wharf speculating just that.

INNOVATOR

Capturing niche clientele Luxury leadership, magnetic (targeted)

marketing, and industry influence tactics for the significant spend threshold Honing your companyâ&#x20AC;&#x2122;s prestige product message with subtlety

HRH Princess Reema Bint Bandar Al Saud Mohammed Abdul Rahim Al Fahim

Entrepreneur MARCH 2015

Faisal Ghazi Mahir Ali Umberto Maria Cini Dr. Rainer Behne Peter Harrison

Rami Al Ali Omar Hikal Geoffrey Nejman Dipesh Depala Ayman Fakoussa

Capturing niche clientele i The Discerning Eye i

Mohammed Abdul Rahim Al Fahim Group CEO, Paris Gallery Group of Companies

"Contrary to the global market trend in niche perfumery, the demand increased here and continues to increase until today."

s purveyors of fine goods across the GCC, Paris Gallery Group of Companies can easily claim a large chunk of luxury market share in the region. Their customer retention strategy, led by Group CEO Mohammed Abdul Rahim Al Fahim, expanded in June of 2013 to include the Luxury Club, the retailer’s loyalty program. The Luxury Club encourages customers of Paris Gallery and Watch Gallery to shop until they drop, and they then are rewarded with an advantageous slew of points. A study from COLLOQUY stated that the value of loyalty program memberships was as high as a gross of US$2.65 billion and according to Lynn Thorn’s Word-of-Mouth Advertising, On and Off, just a 1% rise of loyalty is equivalent to a 10% cost reduction, leading to a 5% rise in customer retention which can increase profits anywhere from 25-100%. In short, loyalty cards mean more devoted customers leading to more profit. Although there are surveys that indicate polygamous loyalty occurs –meaning people are loyal to different brands of the same market- the same challenge most likely won’t be faced by Paris Gallery since they present over 500 international brands, giving luxury clientele more than enough to choose from. Polyamory, in this industry anyway, is encouraged… and it’ll lead to more fruitful relationships.

Presently, Al Fahim and his team are gearing up to launch Paris Gallery in Baku, Azerbaijan this month, Baghdad, Iraq, and Muscat, Oman. For those of you who want to know about the “dollah, dollah bill,” i.e. Paris Gallery’s financials, you need to understand that discussing money is usually somewhat untoward, even for a magazine about entrepreneurship. All of the aspects of filthy lucre are exactly what a brand like Paris Gallery needs to not discuss- to keep brokering (successfully) in the illusion of providing you with privilege and prestige by sheer dint of being a client at one of their 52 locations. It is essential that a luxury consumer forgets the heavy association with money to continue to part with their resources in exchange for products that a large section of the population deem unessential. Al Fahim’s strategies and theorizing are the very picture of precision, and it serves to drive his points (and products) home. According to Al Fahim, the breakdown of business across their many categories is fairly stable. “We’re very balanced when it comes to percentage of sales. It’s not like one category is much bigger than other categories. We have eyewear, accessories, watches, fashion watches and watchmakers. Similarly we have prestige perfume and niche luxurious perfumes and cosmetics and skincare- you name it. Each category is where it should be- it’s not like one

is big and one is small. We like to keep it balanced by continuously enlisting new brands and products in each category.” Here’s some perspective on the luxury retail sector and where it is headed: the CEO is clear about his vision for Dubai, in line with H.H. Sheikh Mohammed bin Rashid Al Maktoum’s wishes, to be the biggest and the best in catering to the fine goods clientele which includes tourists and residents alike. “Our leadership wants this country to become the center of luxury retail worldwide- the center of luxury retail, which will happen very soon. We have positioning in Saudi, Kuwait, Qatar… they used to experience Paris Gallery in the UAE. Today, many Iraqis who visit Dubai, they ask why Paris Gallery hasn’t yet opened

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

there. These country aims are beneficial to us. We, and our colleagues in the industry, are participating, together with the shopping malls, we are working to improve retail through selection, service level…” Both segments of customers are important to Paris Gallery, and when the discussion moves to global hubs including Hong Kong, Al Fahim’s claims ring true. “Singapore used to be very much the talk of the world. What they have done is amazing, but today Singapore is very much following Dubai.” In his opinion, the best service level is Japan, and he says matching this is both a challenge and a window of opportunity for the retailer.

Below: An exclusive interview with Mohammed Abdul Rahim Al Fahim was featured in the September 2014 edition of Entrepreneur Al Arabiya.

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

i The Brand Builder i

HRH Princess Reema Bint Bandar Al Saud President & Founder, Baraboux

“If I’m going to put my name to something, I really feel that it has to be something that delivers on the proposition.”

RH Princess Reema Bint Bandar Al Saud has extensive executive experience in the realm of luxury large-scale retail, and having founded her own brand some years ago, she can claim luxury startup experience as well. Formerly the CEO of Alfa International, the company that operates Harvey Nichols Riyadh, Princess Reema is now focusing on the brand proliferation of Baraboux, a better leathers line of ergonomic luxury bags that runs the gamut from clutches to shoulder bags, which now boasts of a multinational presence. She currently also serves as a part of the executive committee and on the board of directors of Alfa. In the realm of luxury, Al Saud’s tactics revolutionized the high-end retailer’s approach to human capital development- Harvey Nichols Riyadh proved that educating and empowering staff members could and would stimulate profits. During Al Saud’s tenure, the staff were taught to internalize luxury product stories and identities (meant for lifestyles remote from their own) thereby bettering 20

Entrepreneur MARCH 2015

their understanding of how to present (and sell) to the niche client. She approached the prestige cosmetic companies that had a presence at the retailer, and requested Arabic-language trainings to bridge barriers and enhance staff product knowledge, and she says the cosmetics companies were proactive in actioning the localization measure. Al Saud also incorporated Western-style retail incentive schemas not only to encourage stronger sales procedures, but also to foster team sensibility and workplace fairness for a group success model. These are only a few methodologies that Al Saud put into place for staff servicing the department store’s niche clients, and it’s fair to say that great luxury sales are often generated by hyper service-oriented environments. The Princess points out that there were two different agendas put into place at Harvey Nichols Riyadh under her leadership, noting that “there was as a difference with what we did before the law was passed and after the law was passed,” in the context of the evolving nature of the KSA workforce. Cross-selling across departments was taught

HRH Princess Reema Bint Bandar Al Saud

and rewarded, and both store and individual transaction targets were all restructured and realigned so that staff now looked to the overall health of the store’s sales instead of just their own areas or product lines. Al Saud has similar innovative ideas when it came down to launching her own brand. To begin with, she did what the world’s biggest luxury brands do best: define the perfect target market. “The original client was myself. I say that because at the time that I thought of the collection, I was travelling a lot and literally in between a move back home from living in the States. I had two children, I was just starting work, and for the way I wanted and need to travel

and move, I couldn’t find the bag that fit the lifestyle I had. So I ended up either carrying too much or little, so I ended up sketching and designing the first bag with myself in mind.” Cleverly designed and striking, Baraboux is sported by both MENA region influencers and Western household names (Elizabeth Hurley has been photographed carrying the eponymous Reema Clutch on a night out). Most recently, a collaborative effort with highbrow Harrods cements Baraboux, a homegrown brand, as a certified international player. Developed in Italy, Al Saud describes Baraboux as “more of an entry level luxury on the edge of contemporary” and

Capturing niche clientele

images courtesy baraboux

Baraboux Lucy bag in Charcoal Blue

says her ideal client isn’t afraid to mix Dior with high street pieces and a cool pair of Adidas sneakers. They are “knowledgeable consumers” who have access to digital media and worldwide trends, and not just because they’re well-traveled (and well-heeled). These days, fashion’s biggest names are doing just that, and Baraboux is along for the ride. “We’re a small brand, and we’re a niche brand,” she says, but that “small” brand includes some of the most relevant faces in the Middle East, Europe and farther abroad. Her background in Museum Studies has been applied in her capacity as Creative Director with staging, message crafting and delivery. The bestseller is the Reema Clutch, followed by the No. 6, an autonomous bag that also pairs with the line’s larger totes. One of the Princess’ personal favorites after the Reema Clutch is the Mr. T: “I can roll my abaya up and put it right in there. I’m the girl that travels with socks and scarves and I put it all in the Mr. T -it’s got two detachable poucheseverything we create has a dual functionality to it.” The Baraboux Noush is another top seller- besides being attractive and well-made, the bag is good

for both shoulder and crossbody wear and has multiple pockets inside that help brand fans “compartmentalize their lives.” Does Italian production eat into the brand’s profit margin? Besides prioritizing “good quality and artisanal workmanship”, Al Saud has ‘a-stitch-intime-saves-nine’ philosophy on this, basically pointing out that Italian production of Baraboux products makes a lot more fiscal sense than products developed cheaply in China.

“We look at our market and who we want to sell to when choosing our leathers and our materials. We’re not only choosing the best ones for the market we’re looking to sell to but also the ones that are the most durable.” Yes, production costs in Italy are higher, but a slew of other areas of the Baraboux business are saving time, money, and preventing logistical issues from occurring. Italy’s proximity to her Saudi Arabian home base makes it easier to travel there four to five times per year, Italian production demonstrates much lower error margins and shorter execution times due to their extreme level of experience with fine goods, and also, Italy being a synergistic hub for better goods means that all the different production points are situated next to one another and therefore liaise much easier than they would with far-flung locales. “We can literally manage the full cycle in one trip, and it’s more time and cost effective than if I had suppliers in six different countries.” In the news, HRH is mostly mentioned for her fashionbased endeavors, despite the fact that she is also a social entrepreneur, founding Alf Khair [Arabic for one thousand

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

opportunities] and as a part of Alf Khair, Alf Dharb. Originally conceived as a retail academy, Alf Dharb as an educational institution is focused on a “readiness for work, corecompetency” type of agenda with attendees primarily from two streams of society. The nature of her past and current work in the luxury sector has given the Princess a lot of press focus, and she does leverage that to shed light on her social entrepreneurial endeavors. “When I look back at my career, what really interests me is providing opportunities for other people. And particularly back home, the retail industry provides a lot of job opportunities, so the more that I dive into that, the more retail ventures that I dive into, I end up being able to create more jobs and that interests me and fascinates me which is where the social enterprise Alf Khair came about. The vehicle seems to be fashion and retail, and I find that intriguing.”

Baraboux campaign image of the special edition collaborative croc Reema Clutch for Harrods

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

i The frontrunner i

Umberto Maria Cini Managing Director General Overseas Markets, Maserati

“In a global car market of around 70 million vehicles sold per year, Maserati will, without question, remain very exclusive indeed.”

014 was an especially important year for Maserati- besides marking the 100th anniversary of the Trident brand, the year also saw the company mark its

best sales year on record, with approximately 36,500 of its luxury cars finding buyers around the world. With respect to the Middle East and Africa (MEA) specifically, Maserati reported a 155% increase in

its 2014 sales when compared to its figures from last year- a growth that can be attributed largely to the launch of the brand’s first four-door sports executive sedan, the Ghibli, which accounted for just over half of its retail sales in the region. But even as the company celebrates the growth of its business in the last year, and also sets for itself a new goal to sell 75,000 cars per annum by 2018, Umberto Cini, Managing Director, Maserati General Overseas Market, notes that Maserati will continue to remain a very niche brand. “One of the reasons why Maserati has continued to appeal to the

audiences is, on one hand, the high level of exclusivity that owning a Maserati offers,” Cini says. “But more importantly, Maserati uniquely stands for Italian design, the GranTurismo driving experience, exclusivity and craftsmanship. That is how we started 100 years ago when we started making race cars, and that’s who we still are today.” With principles like these governing the company, the Maserati brand has been able to find a rather loyal following here in the Arab world. “The Middle East is a very important market for us, due to the fact that it has a high density of true car aficionados, who

The Maserati Ghibli

Entrepreneur MARCH 2015

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

Umberto Maria Cini

images courtesy maserati

“With launch of the Ghibli in 2014, our target demographic has widened somewhat, reaching slightly younger clients, clients aiming to own their first Maserati, as well as a larger share of female customers.” appreciate owning an exclusive car such as a Maserati,” Cini explains. “Generally speaking, our customers consider themselves true car connoisseurs that appreciate the distinctiveness, exclusiveness and prestige that comes with owning a Maserati. They tend to be affluent, predominantly male and mature in age across all nationalities and cultural backgrounds, although in the Middle East, age seems to play a less significant role. With launch of the Ghibli in 2014, our target demographic has widened somewhat, reaching slightly younger clients, clients aiming to own their first Maserati, as well as a larger share of female customers.” Given that Maserati, as a brand, largely speaks for itself,

Cini admits that the company hasn’t had to work so hard on its marketing techniques to reel in customers. “As a luxury niche brand we have been relatively conservative in terms of communications,” he says. “But with the launch of the Ghibli, which targets a new client segment, we have become more active particularly in terms of advertising, events, interaction with the press and so on. While we receive some of our communications material from our headquarters in Italy, we also produce campaigns specifically for the Middle East and even for specific countries. These include advertising layouts, radio campaigns and so on.” Word-of-mouth recommendations are another way customers are directed towards Maserati. “Client referrals are extremely important, particularly for a luxury brand, and in this region,” Cini says. “We even find that we receive referrals from luxury brands of other sectors such as from the jewelry industry, luxury hotels or fashion. Maserati owners are part of a very exclusive group, and members are extremely well connected amongst each other and share

their product experiences.” In a region that revels in personalized services, automotives too, must try their best to accommodate even the most unusual. One Maserati customer bespoke wish that Cini finds particularly memorable came from a Saudi Arabian customer

“who requested a solid gold nameplate to be incorporated into the dashboard. The factory was able to accommodate the request.” Cini also notes that Maserati customers are also often keen to buy again from the brand after their first purchase. “Our research across several markets shows that the vast majority of Maserati owners will once again consider a Maserati for their next vehicle purchase,” he reveals. “That said, Maseratis become collectible as they age and are often retained by their owners for many years. We would like to think that ‘once a Maserati driver, always a Maserati driver,’ but of course, we need to continue to deliver the ownership experience associated with the brand, including very high standards of after-sales service and engagement with our customers through various events and communication activities.”

The Maserati Quattroporte in Dubai

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

i The Wave Rider i

Dr. Rainer Behne Chairman, BehneMar Middle East

“Discerning clients are only satisfied with superior quality.” 24

Entrepreneur MARCH 2015

he Chairman of BehneMar Middle East (BMME) is a marine enthusiast that took his passion to the next level- turning it into a successful commercial endeavor servicing the GCC niche client. Dr. Rainer Behne acts as Chairman of the Board for the yacht consultancy company, and considers BMME his “hobby business”, having personally owned yachts since the

1980’s. He’s recently put his 90 ft. Cantieri di Pisa yacht up for sale in Dubai, because “like all of our clients, I’m always looking for an upgrade! I have a personal affinity for yachts from German shipbuilder Lürssen as each is extraordinary in its own way, but they are far beyond my personal budget!” Behne says that the luxury yacht sector in MENA is similar to the global standard in that customers demand exacting

Capturing niche clientele

Dr. Rainer Behne

images courtesy behnemar middle east

“We are personally known for our bespoke services, which is of an individualized nature. We market our services very quietly; discretion combined with word-of-mouth recommendation has been essential to our success.” service and superior quality, but differs from a sociological perspective. “Clientele in the MENA region are like any other client in the world -as long as we are talking about the top segment, which we consulthowever, we’ve noticed in the GCC, yachting is more or less a men’s-only toy, while in the rest of the world it’s more family oriented.” Clients retain BMME’s services for their expertise in the market, and their penchant for exclusive top of the range taste. “At the moment, we are searching for a megayacht for one of our returning clients. We’re talking about a size so large, there’s only three handfuls of them cruising the world- nearly all of them with happy owners, so they’re not for sale! At that level, we’re working with the most elite brands with the highest resale values,” explains Behne. Shipbuilders, like the ones Behne refers to, surpass the

significant spend threshold by a lot. While the Chairman won’t discuss specific transactions due to client confidentiality agreements, he can give a general ballpark figure and a basic client description: “We do not give any information. We sign very strict confidentiality agreements; we never talk. We work mainly with high net worth GCC nationals. I can assure you that we have been involved in major transactions in the multimillion euro range.” And the most impressive yacht they worked with in 2014? “Again sorry, we cannot provide any information. But the yacht I am thinking about was substantial!” Behne does add that in terms of the larger scale Middle East yacht consumer, there are a few companies that fare quite well like German-based Lürssen and Australian SILVERYACHT, and “for yachts 50 meters and below, Italian shipyards like Riva, San Lorenzo and Baglietto.” BMME, specializing in yachts 100 ft. and above, deals with both the patron seeking custom-built models and those who are looking for an existing model from their preferred suppliers. Founded in 2006, the company not only trades in new-build yachts, but they also work with pre-owned yachts for purchase or charter, and rely on their international network of “renowned naval architects, yacht owners and

shipyards” to service the niche demographic looking to spend hefty amounts. Attracting their target market has nothing to do with marketing and everything to do with referrals, insists the Chairman. “BehneMar Middle East is not brand-oriented. We are personally known for our bespoke services, which is of an individualized nature. We market our services very quietly; discretion combined with word-of-mouth recommendation has been essential to our success.” The company provides end-to-end solutions for their customers, beginning with the sourcing and vesseldesign, and continues on throughout the actual buying process, including negotiation, inspections, and transaction finalization. Their participation in this year’s Dubai International Boat Show (DIBS) is primarily to showcase luxury superyachts Nasima and Blue Dubai. “We are currently offering for sale the SILVER FAST super yacht, the fourth edition in the elite SILVER line from shipbuilder SILVERYACHTS.

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

SILVERYACHTS has a very unique story: When the owner, a German entrepreneur and longtime sailor, couldn’t find anything he liked on the market, he decided to launch his own shipyard. The SILVER FAST is amazing- all aluminum, 77 meters in length, extremely fast for her size, and a range of over 5,000 miles- all rendered in outstanding quality. Proof of the product is in its ownership; previous models in the SILVER line have been exclusively scooped up by royal families and Silicon Valley billionaires.” BMME also plans to use their appearance at DIBS to promote their partnership with Sabrina Monte-Carlo and their specialization in bespoke outfitting for yachts, jets, chalets, and other “accouterments of fine living. Sabrina MonteCarlo is a master at outfitting first-class interior spaces. Her expertise is the perfect fit for our clients who demand the highest standard of luxury.”

Silver Fast helipad

Silver Fast

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

Left: Back view of the RM 51-02 Diamond Twister, made available in an edition of just 30 pieces launched at SIHH

i The Horologist i

Peter Harrison CEO EMEA, Richard Mille

“Our clients on a global scale appreciate our standing as one of the most daring watch brands with a penchant for luxury, innovation and absolute quality.” “

he Middle East is an expanding market for haute horology and we have witnessed that first-hand. There are an increasing number of collectors and watch enthusiasts, and understanding is growing at a rapid pace.

Peter Harrison

Entrepreneur MARCH 2015

There isn’t a typical stereotype of a MENA client for us; they come from all walks of life and what connects them is an intense fascination with cutting-edge watchmaking and our ‘no compromise’ approach to mechanical design and technology,” says Peter Harrison, CEO Richard

Mille Europe, Middle East and Africa (EMEA). Harrison can attest to a quarter century of background in the spheres of luxury sales and luxury marketing, so it seems only fitting that he launched Redgrave Luxury just under 10 years ago to act as an international luxury

prestige product distributor. Based in the United Kingdom, Redgrave Luxury’s portfolio can boast having Swiss watch brand Richard Mille under their umbrella; the company is both the joint shareholder and the sole distributor for Richard Mille across EMEA. Referring to Richard Mille as a personal friend, Harrison is big on relationships both with internal and external entities in relation to the brand. “As a business we are very close to our clients, they are passionate about the brand and the watches, and [they] tend to be eager to share this through word of mouth and increasingly online. Some of our key partners have also been brought to the brand by referralsthis trust is key in building lasting relationships,” he says, stressing the significance of customer referrals not only to the watchmaking industry, but to all sectors of commercial activity. There is one area of client management that is specific to horlogerie -the haute timepiece collector- and how brands interact with those consumers whose repeat-purchase determines turning a loyal client into an avid brand fan prepared to devote significant resources to expanding a private collection. “Richard Mille collectors are very important to us and it speaks volumes of not only the quality of the watches, but also the close relationships the brand has built with our clients in a relatively short time. Our collectors are very selective; they do not buy a piece unless they truly love it. This gives us the motivation to create new concepts and designs that are interesting to potential clients old and new.” Richard Mille EMEA Ltd, a joint venture between Redgrave Luxury and mother company HOROMETRIE SA in Switzerland, calls their clients “daring and forward-looking. They appreciate what we do and they are willing to experiment and experience new directions in watchmaking. It really

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

images courtesy richard mille i felipe massa image © Didier Gourdon

Richard Mille boutique, The Dubai Mall

is a mindset rather than a simple demographic.” The allure of owning one of few finely crafted limited edition timepieces, like the RM 1902 Tourbillon Fleur, only enhances the feeling of a special circle of watch aficionados- they are repeat clients and self-appointed influential friends of the brand. “Richard Mille is a dynamic brand that produces watches in very limited numbers which has made it both aspirational and very rare. It is the thirst of clients for something new and different that fuels our markets, and the power of word of mouth should never be underestimated. Nor indeed should true exclusivity.” Harrison himself wears the RM 011 Black Night, “a limited edition of 100 pieces, available only in the EMEA region. It is our first limited edition watch with a case made entirely of NTPT® Carbon. Brand partners Felipe Massa, Martin Brundle and Sebastien Loeb will all be wearing the RM 011 Black Night during this year’s motor racing season,” adds the CEO. Brazilian Massa, English Brundle, and French Loeb are all widely-known motorsport figures and Formula 1 racecar drivers, and do reflect the brand’s penchant for teaming up with opinion leaders who are both adventurous and a bit on the slicker side of style. “Our brand partners all serve a purpose

far greater than as marketing tools; they are the ultimate real-life testing ground for our watches. Largely the strategy has been the same in all regions,” says Harrison, noting that visibility is strategic to continue to position of Richard Mille as a global timepiece manufacturer, and that participation in annual events like Salon International de la Haute Horlogerie (SIHH) and other horlogerie luxury events is essential for both consumer and industry contacts. “It is important that we remain close to our clients,

partners and friends in the region and these shows can be a great way of doing this.” The realm of haute horlogerie dictates that brands looking to recruit (and keep) their clients need to source interesting, ergonomic, and durable materials. In addition, they also need to take into account the obvious factor of whether or not the production and craftsmanship standards can be adhered to, while remaining innovative in a hyper competitive industry. “All of our pieces require varying levels

Brazilian Forumla 1 driver Felipe Massa wearing the RM 011 Black Night

of research, development, tooling and finishing and this is reflected in the amount we can produce of each model. We have pieces with different complications; automatic, manual, chronographs, tourbillons and now with the RM 19-02 Tourbillon Fleur, an automaton. We also use a variety of cutting edge materials; from titanium, carbon and ceramics to precious metals and some with a variety of settings. What unites all the pieces is that they are extremely high performance.”

RM 011 Black Night

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

SPA’s Dassault Falcon aircraft

Faisal Ghazi Kayal Managing Director, Saudia Private Aviation

“Any way you look at it, every single trip, and every way that we serve our clients is memorable to us.” “

ow will you ever see eye to eye, if you’re never face to face?” It is this quote by Warren Buffet that Faisal Ghazi Kayal, Managing Director, Saudia Private Aviation (SPA), uses to illustrate the importance of the services that his company provides for the business com-

“We are one of the very few private aviation companies where you will be able to request for a quotation online, and then receive it in the privacy of your own email. You can request all of our services through our website.” 28

Entrepreneur MARCH 2015

munity in the Middle East. Since it launched its commercial operations in 2009, SPA, a subsidiary of Saudi Arabian Airlines, has become one of the leading names in the region’s private aviation sector, and all signs point to the enterprise seeing a lot more growth in the years ahead- after all, the Middle East Business Aviation Association (MEBAA) has predicted the regional business aviation industry to be worth around US$1.3 billion by 2020. “We are growing at a higher rate on a compounded annual growth rate [basis] in the region, compared to the worldwide average,” Kayal explains. “We are growing at almost 8%, whereas globally, we are talking about 6%.”

With these figures to look forward to, the Jeddahheadquartered SPA has also embarked on a privatization drive for its business, with Kayal calling the effort a strategic move in anticipation of the future. “At the end of the day, we look at the privatization as part of our efficiency [drive]we don’t separate efficiency from privatization,” Kayal says. “What we are doing right now is becoming a totally separate entity from a commercial, organizational and financial point of view. I think this gives

us the freedom to be able to be more dynamic and responsive to our market needs, and our customer needs as well.” And SPA’s attentiveness to its clientele is reflected in the functionalities it has incorporated in its official website. “Our website www.spa.sa is an interactive point-of-sale website,” Kayal says. “We are one of the very few private aviation companies where you will be able to request for a quotation online, and then receive it in the privacy of your own email. You can request all of our services Faisal Ghazi Kayal

Images courtesy SPA

i The Aviator i

Capturing niche clientele through our website, and you receive the confirmations for everything in your email. Plus, our website also offers a lot of good opportunities for [users to take advantage of] empty legs, with special offers to our clients.” According to Kayal, providing a better customer experience through the SPA website is going to help build the company’s business and reputation in the market. “Private aviation tends to be a very closed sector,” he says. “We can turn this business into a much more globalized business by [virtue of customers] being able to interact [with us] through the website. Unlike the typical normal process where you have to go through a broker and everything, we have made it very transparent on our website, where you can request for your quotation, and get all the information you need easily.” SPA’s offering of memberships

for its clients is another way the company has been building (and growing) its customer base- its Silver, Gold and Platinum packages have been especially designed with a variety of incentives and offers to cater to passengers on all of their

flights, be it the short domestic trips, or the long-haul international ones. “We want to keep our customers as our partners, by developing memberships for them,” Kayal explains. “What we have seen with the growth rate and the responsiveness of

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

the market has encouraged us to go with a more aggressive strategic plan from 2014 for the next five years.”

SPA aircraft interior

Prestige practices Walpole and LBS launch luxury management MBA program “I believe very strongly in our duty to nurture the next generation of talent in the luxury goods industry. It is not just the highly-skilled craftsmen and women of this country that we need to support, but it is the business leaders of tomorrow, who will be responsible for expanding this industry on an international scale.”

LBS WEBSITE

Mark Henderson, LBS program Chairman and Gieves & Hawkes Chairman

With names like Michael Ward, Managing Director, Harrods, Jonathan Akeroyd, CEO, Alexander McQueen, and Stephen Alden, CEO, Maybourne Hotel Group on its roster of speakers, a new MBA program in luxury management launched by London Business School (LBS) and Walpole, a non-profit industry group consisting of some of Britain’s finest luxury brands, looks to be an attractive proposition for those of you interested in building management careers within the luxury goods industry. Besides being treated to the school’s rigorous MBA curriculum (which, incidentally, was recently ranked second in the Financial Times Global MBA Rankings), the 13 students in this program will also get to select from a variety of specialized elective workshops, and receive invites to be a part of Walpole’s entrepreneurial program, Brands of Tomorrow, aimed at developing the next generation of British luxury brands. Walpole members who are senior executives in their professions will also act as mentors for

the students, which will further encourage specialist learning in this particular field. “Our goal is to encourage specialist learning, facilitate the exchange of exciting new ideas and help to nurture the next generation of leaders in our sector,” explains Walpole CEO Michelle Emmerson. www.london.edu

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

i The Traditionalist i

Mahir Ali

Operations & Brand Artistic Director for the Middle East and South East Asia, Ascots & Chapels

“Privacy of clients is paramount for us.”

“

ne of the more difficult and unusual requests I have fielded is when a client called me to his home, and handed me a box of 10 Hermès scarves and asked that we install the scarves into his jackets as linings. You know the cost of each Hermès scarf- these needed to be cut

“

Entrepreneur MARCH 2015

properly so they looked proper when installed as inner lining of his jackets. It was tedious, time-consuming, but also exciting.” Mahir Ali, the Ascots & Chapels Operations & Brand Artistic Director Middle East and South East Asia, has over 130 years of bespoke tailoring heritage to live up to, so when he’s presented with singular client demands he really does

have to rise to the occasion. “The most repeated request which we often hear is ‘make it unique.’ We try and often succeed in pleasing them by giving personal touches in their garments. One example is that we managed to inscribe a client’s signature in pure gold thread in his suit jacket.” Ascots & Chapels first launched in the UAE in 2007, and their Qatar outlet launched in Doha situated on The Pearl in 2013. Having come from German mainstay Hugo Boss, and now in his eighth year with Ascots & Chapels, Ali says that heading up operations for the prestige tailor is altogether a whole different client: “Hugo Boss targets and lures the young and sporty gent who parties a lot and loves to flaunt unapologetically. Ascots & Chapels targets the gent who has reached a certain maturity level and wants to express his personality through his clothing without being too pretentious. To flaunt is something which any gent loves, but an Ascots & Chapels client will only do so through his carefully chosen details incorporated in his clothing.” These carefully chosen details include fabrics, embellishments and linings, and of late, accessories like interesting silk pocket squares and lapel pins stocked by the brand. A standard work suit by Ascots & Chapels from the Buckingham Collection begins at a reasonable AED2,850 with an extra pair of trousers, and tuxedo prices begin at

AED3,000 depending on fabric choice, although there is one in particular they have designed and developed for evening attire. One of the highest priced fabrics presented by Ascots & Chapels goes for AED115,000, but this particular material is run with gold thread. Suits typically take three to four weeks from initial meeting to delivery, and the entire process is extremely personalized. “We service an ego, so we need to be very careful with what we offer our 24 carat clients. It’s exciting and challenging to maintain the palette of colors and fabrics for the ever-demanding highend client.” Taking on a tailor for better menswear is an intimate arrangement, more so than most niche client luxury industries, and in addition to being able to fully trust in a tailor’s skill, the consumer must also be confident that the company itself is discreet. The Ascots & Chapels “24 carat” customer

“The most repeated request which we often hear is ‘make it unique.’ We try and often succeed in pleasing them by giving personal touches in their garments. One example is that we managed to inscribe a client’s signature in pure gold thread in his suit jacket.” Mahir Ali

Capturing niche clientele

Images courtesy Ascots & Chapels

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

roster, often quite high profile, are above the significant spend threshold and can rest assured that even internal staff members aren’t privy to their identities should they wish it so. “In such cases I personally attend to them, which is when they open up about garments they seek. Such clients always need someone to confide in and relate to what they are looking for. Mostly, with these clients we only mention their initials on internal use order forms,” says Ali. Outfitting heads of state, dignitaries and corporate titans, the brand prides itself on attending to the finest details and their customers expect nothing less. Exclusivity and loyalty permeate the brand’s ethos, and that includes the areas of strategic marketing and privé events by invitation only. “We regularly have high tea events at DIFC and other venues around Dubai where we talk about color, fabric, styling for the season, and we also address about men’s grooming. Clients find this interesting, and it’s a great way to interact with our patrons. We have [beverage] tastings for our 24 carat clients where they also network and hobnob with others who are of their caliber. These events help us convey to them that we

respect and value their patronage towards Ascots & Chapels, and it’s an effective way to keep in touch with them.” The brand also markets through suitable sponsorships of sporting events frequented by their target demographic, yacht and golf clubs, and business councils. The referral model is important to their overall business, and Ali candidly admits that while some clients happily tell their social circles about the master tailor that crafted their bespoke suit, others prefer to keep a good tailor to them-

selves. “It’s known that finer things or services have gained popularity through great word of mouth- be it a restaurant, a jeweler, a lawyer, and of course, a tailor.” He does note that the executive crowd is more likely to refer Ascots & Chapels to their contemporaries, primarily because they want their teams to cut an impressive figure in the boardroom- appearance does count, after all. Educated at Seneca College in Toronto and the Fashion Institute of Technology in New York, Ali advises men seek-

ing a fine wardrobe to firstly adopt clothing that suits both lifestyle and work environment, express themselves subtly through their attire, and to stick to flattering colors that work for them without being conspicuous. “Shades of blue always make you stand out in the boardroom or in a power meeting. Do not wear lighter shades of grey in winter, as they are suitable for summers.” Ali’s diploma in Fashion Merchandising & Management and his degree in Apparel Production Management are both put to work for Ascots & Chapels patrons, and it’s with no shortage of pride that he describes the strong, longterm alliances they have with their clients, and the warm responses that he himself and their master tailors receive. A few key hallmark points of a good tailor-client relationship: “Go to a tailor who listens to you and understands what your need of the moment is, does not mandate, but instead suggests what would suit you better, and someone who asks you questions, so they can put a good wardrobe for you together.”

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

i The Couturier i

Rami Al Ali Founder, Rami Al Ali

“Attention to detail has been my philosophy from the beginning.” Rami Al Ali

“

he opportunity to wear something bespoke and unique is always a key factor that draws a client to couture. Choosing eveningwear can be a difficult task, as you want something striking but elegant which is comfortable enough to wear throughout the entire evening. Feeling confident in a dress is so important because it changes the way you carry yourself and how you walk into a room,” says fashion designer and entrepreneur Rami Al Ali. This year, he is marking the 15th anniversary of his eponymous label that can now claim some of the world’s most sought-after faces as having appeared in his gowns, including international socialite Ivana Trump. In terms of the impact of celebrity affiliation to his designs, Al Ali says that “there needs to be a balance between commerciality and creativity,

Entrepreneur MARCH 2015

and I think celebrities can help bridge the gap. I will always be grateful to the regional Middle Eastern celebrities who took a chance on me when I was starting out as a small fashion house– they gave me some much-needed coverage in the media at the time. This paid off commercially as it led to a boost in clients, paving the way for me to dress international A-list stars such as Beyoncé and Jennifer Lopez, to name just a few.” Nine years after the launch of the Rami Al Ali label, the designer presented his work at Rome’s AltaRoma couture week which proved to be his gateway to the European market, garnering him significant attention from that region’s fashion press. In this region, Al Ali’s work is revered, and he gradually accumulated a client roster of the who’s who in societyand this means exacting and time-intensive personalized attention. “I first showed in Paris

in 2012. Since starting my own line in 2000, it’s always been my ambition to show in the couture capital alongside the greats, as to be recognized as an international designer you have to be amongst them. Commercially, this has boosted my profile and brought in clients from Asia and further afield,” adds Al Ali. That first show in France was alongside global fashion Houses like Chanel, Dior and Valentino, helping to secure Al Ali’s position as a world-class designer. Digital marketing savvy has made Al Ali’s pieces known outside of the exclusive and elite couture circle as well, and he adds that “social media is a key tool in establishing and increasing brand awareness. These days everyone is on Instagram or Twitter; it transcends age, social status and income. It’s a great way to showcase my label and reach all my potential clients, whether they are interested in couture, ready-to-wear or bridal.” Currently, Rami Al Ali has a significant web presence with highly active social media platforms including Facebook and Instagram, showcasing some of the designer’s work, shows, and high profile clients wearing his designs. “My couture collection is made to order, taking into account specifications of each client and tailored by hand to fit perfectly, whereas the Prêtà-Porter collection is made on a larger scale using industrial techniques and more accessible materials. As a result the price ranges are very different– couture is always priced on request because each individual dress requires different components, fabric and time allocation depending on the client and their needs.” Over the years, Al Ali has drawn inspiration from the natural world, and even from masterpiece paintings like Sir John Everett Millais’ Ophelia and The Kiss by Gustav Klimt. During the regional release of Al Ali’s Klimt-inspired collection, each member of the press went away with a book

featuring Klimt’s paintings. “As soon as one couture collection is launched, I begin thinking about the next. I decide on a theme, research it thoroughly, create mood boards and sketches and then go on to the actual making of each gown. Of course each dress depends on the material, amount of embellishment and how simple or complicated the style is, but as a rough estimate it takes around six to seven months from inspiration stage to the final, finished collection.” Al Ali’s bridal range, a favorite of socialites and the well-heeled, is extremely intricate. Referring to himself as a perfectionist, Al Ali ensures that each of the gowns is proceeded by an in-depth consultation, followed by a process that keeps his label’s clients reassured with his minute attention to detailfrom embellishments and choice of fabrics, to the actual final fit of the often one-off creation. “Whether a client is

Jennifer Lopez dressed by Rami Al Ali

buying a custom wedding gown or a dress from my couture collection, everything about the Rami Al Ali service is bespoke and tailored to their needs. Couture production is different because everything is made by hand and made to order. Each detail or embellishment is added individually which takes time, precision and talent– no shortcuts can be taken.”

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

Geoffrey Nejman

i The Olfactorist i

Geoffrey Nejman Co-founder, Parfums M. Micallef

“We just have to be smart enough to seduce the consumer with quality, uniqueness and olfactive dreams.”

e offer a bespoke service called Private Label which allows clients to work with us to create a unique bottle of M. Micallef fragrance.

“

Private Label commissions are exclusively produced by special appointment only, and we work with a Swiss goldsmith who uses 24 carat gold as well as semi-precious or precious stones. The most expensive bottle we’ve made

Parfums M. Micallef boutique at the Grosvenor House Dubai

has cost AED210,000, however, due to the bespoke nature of each product, the price of each will differ depending on individual specifications,” explains Geoffrey Nejman. Parfums M. Micallef, after nearly two decades in the fine fragrance sector, have several collections devoted to the niche luxury client seeking individual scents. Co-founded by Nejman and Martine Micallef, the brand started off with a “sixfigure investment […] and today, we have accumulated good reserves built by our ROI cash that we keep within the company. In our business we need to invest every year on the developments, and to always ensure that there is creativity. The market is very demanding nowadays. According to expert opinions, our company is worth an eight-digit figure today.” Their Private Label clients run the gamut from individuals (including royals) to brands and even hotels, looking for a personalized, opulent creation. “For the opening of our first boutique in the UAE at the Grosvenor House [in] Dubai, we commissioned a special

crystal bottle adorned with a falcon head to commemorate the occasion. Representing majesty, grace and luxury, this exquisite piece embodied both our brand values and those of the UAE. We find this to be the best way to market our bespoke service as our creations are a great talking point, piquing the interest of potential customers who then approach us to find out more.” The brand’s handmade crystal collection, designed and created by Micallef as original work, is one of the company’s signature offerings for a prestige client with an art-eye looking to add to a hallmark fragrance collection. “There are several routes to reach your target market. The most important thing to consider is that you have to control your luxury service until your product reaches the final consumer. The ideal strategy would be to control your own retail outlets so that you can oversee everything and ensure that you are providing a quality service and the best terms of delivery,” adds Nejman. As for luxury figures of industry that he finds have paved an impressive path for better goods, Nejman mentions that he “very much admire[s] French businessman, Bernard Jean Étienne Arnault, Chairman and CEO of LVMH.”

Crystal Flower

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

A yacht installation by Archimedia with a fully automated A/V and lighting solution, featuring hidden in-ceiling speakers for an immersive surround sound experience

i The Audiophile i

Omar Hikal Co-founder & CEO, Archimedia

“We’re basically a technology and engineering firm that is passionate about enhancing the lives of its clients.”

he CEO of Archimedia, Omar Hikal, is accustomed to bespoke requests. Archimedia clients look for tailored home audiovisual and electronic solutions that are formulated with client preferences, architecture, design, and user experience in mind. This is not a one-size-fits-all industry by any means, and with many of their client investments clearing what most consider the significant spend bar, Ar34

Entrepreneur MARCH 2015

chimedia works to ensure that the engineering behind every installation they do is both superior and ergonomic, surpassing client expectations and garnering client referrals across the MENA region. “The smart home and high performance audio visual sector in the MENA region, like most other sectors, differs from country to country, and indeed, from city to city. We operate from Casablanca to Dubai so we have a unique insight into the market dynamics in each

of the geographies we cover. Our experience is that there are commonalities between the ‘prestige’ clients, although we do have to tailor our offering to different concepts of luxury and lifestyles from country to country. Over the past 10 years, we have seen markets like the UAE and Saudi Arabia develop at rapid rates compared to markets like Casablanca and Egypt that are still somewhat conservative and haven’t fully embraced the concept of home technology. I see the coming years as being very interesting and we will see technology being adopted on a much wider scale in our homes,” says Hikal, discussing the MENA client. A CEDIA EMEA and CEDIA US (Custom Electronic Design & Installation Association) board member and a CEDIA Certified System Design Professional, Hikal has served as Archimedia’s CEO since 2010, building on his previous role with the company as COO from 2004. One of his main areas of

“Over the past 10 years, we have seen markets like the UAE and Saudi Arabia develop at rapid rates compared to markets like Casablanca and Egypt that are still somewhat conservative and haven’t fully embraced the concept of home technology.” Omar Hikal

Capturing niche clientele

images courtesy archimedia

Above: An Archimedia state of the art cinema room featuring a breathtaking audiovisual system, complemented with an integrated automation solution. The living room segment of this installation included Bowers & Wilkins speakers hidden in cabinets.

attention? Ensuring Archimedia’s technical standards and brand development. Flawless execution and thoughtful design are two main Archimedia principals, and in 2014 alone they executed over 250 systems across 11 countries, but it isn’t just brand offerings that matter in how the company chooses to implement client wishes, it’s also about cohesiveness. “We use a number of best in class brands to ensure that our solutions offer the functionality required at the high standard of performance that our clients expect. We’re proud to offer world renowned brands like Bowers & Wilkins, Classé, Datasat, Integra, Sonos, Kaleidescape, Crestron, Savant and Lutron, among others. The truth is that while these brands have been carefully selected, what really matters is how they are integrated into one seamless solution that just works.” In terms of demanding clients, Hikal admits admits that they’ve had a few eyeopening requests, but after a decade in the industry they’ve “seen and heard it all- in high definition,” jokes Hikal. He does mention one client in particular who wanted omnipresent-like control “including the ability to see all 50 of the cars in his garage, and [the ability to] summon his chauffeur with

any particular car by simply touching its image on his touch screen. That was loads of fun. He’s been a client of ours ever since. Today’s technology and our team of skilled engineers make it relatively simple to accommodate even the most outrageous request.” Hikal, a Boston University School of Management graduate who also attended INSEAD executive management programs and the Senior Executive Program at Harvard Business School,

has held various positions in IT, sales, marketing and general management. He’s put both his theoretical and market experience to work as the co-founder of Archimedia garnering client referrals and developing that repeat client base that pushes many businesses that cater to the niche client from the great level to the exceptional level. “Referrals are our lifeline; our primary source of business comes from the referrals of happy customers, so we pay lots of attention to making sure our clients are delighted with the work we do for them. We have one client who has used us for his homes in Dubai, Riyadh, Jeddah and London, in addition to his offices. We have done work for his father and three of his brothers. A few years ago one of the region’s heads of state had us install identical solutions across many of his palaces and two of his yachts. This is very common for us. I don’t have the exact statistics, but I would guess that at least 35% of our clients have Archimedia systems in more than one home.” Hikal says that while he is quite taken with the “projects with their limitless budgets

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

and all the bells and whistles”, he’s almost keener on the challenge of unconventional requests that require an inventive approach without compromising the overall quality and delivery. “Last year, we delivered an exceptional project for a discerning audiophile in Casablanca who spoke to companies all over the world before selecting Archimedia. We also worked on two fabulous penthouses in Dubai that required amazing attention to detail. Our dedicated home cinemas are unquestionably the most technically sound, and I’m particularly proud of a few of our cinema projects in Saudi Arabia, where the home plays a huge role in the entertainment of every family. I love having fathers thank me for allowing them to spend more time with their children and their friends– that’s impressive.”

Below: A bespoke media room by Archimedia with Bowers & Wilkins in-wall speakers as well as a full automation solution.

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

Tempting teasers Rolls-Royce is #EffortlessEverywhere

company like RollsRoyce Motor Cars (RRMC) kicking off a promotional bandwagon? With a hashtag? It’s true, and we’re guessing that means the 111 year-old business is about to execute the biggest push in the formidable history of their company. Widely acknowledged to be one of the most revered and prestigious carmakers in the world, automotive enthusiasts have already began taking note of the teaser campaigns online. The hints of a RRMC SUV began a few months ago with a release of cryptic teaser

images via various public relations channels. More images soon followed, but this time they were watermarked with the hashtag #EffortlessEverywhere. And now? They’ve issued an open letter signed by RRMC’s two head honchos, Chairman Peter Schwarzenbauer and Chief Executive Torsten Mueller-Oetvoes. Titled “An Open Letter from the Chairman and the Chief Executive of Rolls-Royce Motor Cars on the subject of new Rolls-Royce,” the release went live on February 18th. Briefly touching on RRMC’s past achievements, the letter eloquently asserts that “this new Rolls-Royce will be Effortless ... Everywhere,” adding that customers, motor vehicle enthusiasts and media alike will be kept apprised of the brand’s progress with the upcoming launch. Schwarzenbauer and Mueller-Oetvoes end the communiqué by assuring readers that they are in the

process of “creating a motor car in the greatest traditions of our marque,” referencing a quote by RRMC founder Sir Henry Royce: “When it does not exist, design it”.

Clockwise from left: Rolls-Royce Motor Cars Chief Executive Torsten Mueller-Oetvoes, Rolls-Royce Motor Cars watermarked teaser image for the #EffortlesslyEverywhere campaign, Rolls-Royce Motor Cars Chairman Peter Schwarzenbauer

Below, left: HRH Princess Haya Bint Al Hussein, Ali Al Bawardi, H.H. Sheikha Maitha bint Mohammed bin Rashid Al Maktoum with Regional Managing Director of Cartier Middle East, India and Africa Laurent Gaborit on the final day of the Cartier International Dubai Polo Challenge 10th edition.

Entrepreneur MARCH 2015

rolls-royce images © Rolls-Royce Motor Cars i cartier Photos by Chris Jackson/Getty Images for Cartier

| IN PICTURES |

The 10th edition of the Cartier International Dubai Polo Challenge was staged at the Desert Palm Hotel on February 21, 2015. The event took place under the patronage of HRH Princess Haya Bint Al Hussein, the wife of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The Cartier Villa premiered the new Clé de Cartier watch creations at the event, with the collection being presented in the UAE for the first time following its global launch at the Salon International de la Haute Horlogerie (SIHH) in January. It will be available in boutiques worldwide starting April 2015.

www.etro.com

MARCH 2015 Entrepreneur

Capturing niche clientele Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

Making alliances work for the luxury brand The how, when, and why of influencers online and offline By Dipesh Depala & Ayman Fakoussa

ith the advent of social media and the massive reach potential it has when utilized correctly, the recruitment of influencers as a means of promoting luxury products and services is increasingly prevalent. This

modern day phenomenon is unavoidable as our days are consumed with tweets, posts and selfies in the most impossibly-beautiful locations, in perfect magical light, wearing the lust-have covetables of the season! At the end of the

George Clooney for OMEGA advertising campaign

GEORGE CLOONEY AND EINSTEIN’S CHOICE.

Available at:

OMEGA Boutiques - Dubai: BurJuman • Deira City Centre • Dubai Mall • Dubai Festival City • Mall of the Emirates • Mina A'Salam • Mirdif City Centre • Sahara Centre • Waﬁ and at select Rivoli Stores. Abu Dhabi: Marina Mall • Yas Marina • Toll Free: 800-RIVOLI

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1/22/15 7:39 PM

day, brands -both established couture Houses and indie label newcomers alike- are all vying for the attention of people; their potential customers, and who better than the most revered and idolized people to act as the catalysts? Brands are now faced with the question of who to approach that can properly represent their online and offline aims. Who is the most suitable individual for the role, and do they truly reflect the brand ethos? It’s a crucial decision that can either propel a brand to infinite stardom, or adversely banish it to the deepest depths of Internet oblivion. Take for example the likes of Limitless-fame Bradley Cooper who smoldered both onscreen and off for Magnum Ice Cream prompting women across the globe to snap up the velvety indulgence. And lest we forget David Beckham, one of the most famous crossover athletes on earth, promising instant superstar status to Haig-drinkers everywhere. On the other side of the coin, there are the numerous celebrities who promote health and exercise brands, caught on camera by lurking paparazzi as they walk to the park cigarette prominently in hand. Or the supermodels that support PETA, yet they’re photographed

sporting fur on an evening out. Clearly, brands need to do their homework before they opt for the influencer strategy, especially since the bigger the reach, the costlier the alliance can get. Our strategy at The Qode has personalized communication for luxury brands with its end-to-end services, including tailored event planning, diverse publishing channels, and exclusive VIP guest lists. The Qode, leveraging our personal contacts and extensive experience in the industry, serves the MENA region’s US$6.7 billion luxury retail market, projected to grow annually between 10% and 15%, and we have secured noteworthy clients in the GCC and specifically in the UAE, including Sephora, Louis Vuitton, Berluti, Kiehl’s, and Moda Operandi. In identifying a suitable collaboration, there are some facets of influencer alliances that we take into consideration when matching luxury brands to influencers: 1. Find the right fit Is the individual suitable for the brand? Does the influencer have the necessary attributes that best highlight the message of the brand? These are crucial considerations in the process of setting out niche luxury marketing. As highlighted before, a bad fit could cause irreversible damage to the stature of a brand when an ambassador or friend of the brand is publicly seen flouting the guidelines and calling into question brand credibility. It is all too easy to engage an ambassador for a fee, but is he or she someone who is true to your brand image? One notorious example is Paris Hilton- she can be engaged at the drop of a hat and is certain to garner attention, but regretfully Influencers can make people want to buy a product by the way they present it, as opposed to corporate campaigns which are sometimes soulless and alienate the target consumer.

Capturing niche clientele causes more negative publicity than positive due to her lifestyle choices.

mr. draper website

2. Establish method and delivery In what way do you want to engage the ambassador to promote your product? The brand needs to define both the vehicles and the methods in which the ambassador engages with the brand. What channels will they employ to convey the message and their love for the product or service? Social media is king, and Instagram is arguably one of the most effective platforms in the world of online promotion platforms. With the power to sell anything from haute couture to flawless VS1 diamonds, Instagram is instant gratification for the luxe-hungry, and a clever and well-governed campaign will ensure that your chosen ambassador is credible in their promotion to the correct audience. Bloggers and Instagram phenomena like Watch Anish and Huda Kattan of Huda Beauty have revolutionized the way an ordinary person can be sought-after. Influencers can make people want to buy a product by the way they present it, in their own special and personalized way, as opposed to corporate campaigns which are sometimes soulless and alienate the target consumer. That is really why the blogger sensation has a firm grasp on its influence

Luxury leadership, magnetic (targeted) marketing, and industry influence tactics for the significant spend threshold

on retail, retailers, consumers, and just plain ordinary folk craving a jaunt into the extraordinary. 3. Determine alliance timing and duration Two aspects are of primary relevance here: your brand message, and the staying power of the influencer. Firstly, campaign and alliance timing. How long is too long for one celebrity to promote a brand? This is dependent on the nature of the product or service, but generally a year of active support is a good time to call it quits. Like anything else, we as people are bored easily and need constant change in visual and mental stimulation to keep our interest. Too little time shows a lack of commitment and therefore a lack of love for the brand, and too long and it’s just plain boring. In terms of the second area, staying power, influencers who last longer have bigger and more loyal audiences. Bloggers and social media icons dance to a different tune, and as these are real people, longevity is key. The longer they continue with their online images, the more popular they become, and with that popularity comes the ability to reach many more people. Relatability of the influencer is also one of the important areas of consideration, and must be carefully taken into account when executing social media alliances.

Dipesh Depala and Ayman Fakoussa, inducted into Endeavor in February 2015 at the 57th Endeavor International Selection Panel in Singapore, are entrepreneurs and co-founders of The Qode, an agency specializing in luxury public relations and events in the GCC. Operating mainly throughout the Middle East, Ayman and Dipesh founded The Qode in 2010 offering luxury companies in the Gulf region specially catered communication and event solutions that ensure their brands are at the forefront of the luxury consumer market. The company’s culture and experienced team have Dipesh Ayman allowed it to become the Depala Fakoussa go-to firm for international brands entering the competitive Middle East luxury space. With a combined three decades of luxury market experience, Depala and Fakoussa have demonstrated a sound track record of communicating to niche clients in the MENA region.

Mr. Draper brings the goods to you “Our advantage is that we also leverage data to understand our customers.”

anaging Partner Mahmoud Gao joined by Mary Freiji and Tiba Al Damen, all of whom have backgrounds in retail and luxury distribution in Dubai, decided to launch Mr. Draper, a personalized shopping service targeting this region. A personal stylist contacts the customer via phone after signing up to discuss lifestyle, preferred fashions and color schemes, brands, budget, and sizes. Clients also have the option to submit their details on Mr. Draper’s interactive portal, and “encouraged to link us to their social media accounts and upload pictures of themselves,” Gao adds, in order to help the company’s stylists formulate a stronger idea of a client’s needs. As part of their “complete convenience” strategy, boxed goods are then delivered to the client, and they’re encouraged to choose what items they want to keep and return the rest. The founders do note that some of the service’s customers prefer visiting the Mr. Draper showroom itself in Dubai Silicon Oasis to work and interact with their stylist one-on-one. With buying wholesale and selling retail as their business model, customers can choose from a variety of labels including Ralph Lauren, Valentino and Atelier Privé, and a slew of laidback brands like Converse, Topman and Abercrombie & Fitch. Mr Draper’s advantage over shops is personalizing a customer’s experience using their stored preferences, noting which items customers return on their package (with the frequencies of each package based on a case-by-case scenario as it’s not a subscription-based model). Mr. Draper’s marketing strategies have varied; their most successful being targeted Facebook ads and client referrals, which they cite as their second biggest source of leads after Facebook. There’s no sign up, service or shipping fees, and most apparel is priced on par with better department stores such as Bloomingdale’s or Harvey Nichols. “You only pay for the clothes you decide to keep, no minimums,” explains Gao, mentioning that clients’ average spend nearly doubles when comparing package delivery to in-house services. www.mrdraper.ae MARCH 2015 Entrepreneur

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An unwavering eye for the exceptional The General Manager of “The Best Hotel in the World” expects even more than you do from your business travel experience

“

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he reputation of The Address Downtown Dubai as the ‘Best Hotel in the World’ is reason enough for entrepreneurs and leisure guests to enjoy our hospitality. We are located in the heart of the world’s most visited lifestyle destination and in close proximity to The Dubai Mall and Burj Khalifa. We are also in close proximity to the Dubai International Financial Centre (DIFC) and Dubai World Trade Centre (DWTC), as well as other business nerve centers. Entrepre-

neurs will also cherish the high standards of service excellence and the tangible guest benefits that we assure.” As the General Manager of The Address Downtown Dubai, the brand’s flagship property, CarolineJane Houston admits that while a prestige hotel’s interior design schema is important to guests, what’s even more so is the ambience of serenity that it can foster. “The fundamental principles are that guests must feel an emotional connection with the hotel by offering the right level of intimacy

“What is of crucial importance is in ensuring that we deliver to our guests what they seek from our property. For example, when guests check in to The Address Downtown Dubai, they have already formed informed opinions (through the internet or hospitality sites) and from their own personal inferences. It is then up to the property not only to meet guest expectations but also surpass them through a focus on service excellence and ensuring that they have a ‘home away from home’ experience.” and privacy, which are often the result of intangibles. At The Address Downtown Dubai, the welcoming fragrance, for example, is one such intangible. We focus on delivering an environment that is not stressful, but relaxing and welcoming. Ultimately, a great design brings first-time guests, but outstanding service retains them,” she says, discussing the importance of aesthetics. Houston waxes poetic about the minute details of the five-star property, and with good reason -from the lobby to the F&B outlets, every component seems to blend impeccably with the next and emote a feel-

ing of tranquility- no mean feat for a hotel situated in the hustle and bustle of Dubai’s hectic core. “The entire aesthetics aspects of The Address Downtown Dubai are led by a clearly-defined design and architectural strategy that has been incorporated from its construction stages. Every element contributes seamlessly to achieving the design harmony we sought for the flagship property of The Address Hotels + Resorts. As such, the original design and interiors draw inspiration from nature –the hues and textures of mountains, sand and rivers– which indeed are the dominating color

GM Caroline-Jane Houston

tones across the property. The focus on interiors obviously also incorporates lighting elements, and I would say that our Business Centre and Lifestyle Events areas are breathtakingly illuminated while being >>>

MARCH MARCH2015 2015 Entrepreneur

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consistent to the overall design theme to create a truly captivating ambience. So from the layout to the hues, the choice of accessories to lighting– every aspect has been meticulously planned, which defines the character and individuality of the property.” Business travelers visiting The Address Downtown Dubai might notice a dignified and hushed pleasant hum oft-associated with historic hotels, and this can be credited equally to both the architecture and the staff of the property. It does take a skilled GM with a vision to imbue a personality into a hotel, and Houston’s experience may very well be what helps to position The Address Downtown Dubai as one of the most highly-ranked UAE options for the business travel segment. As an industry veteran with two decades of hospitality knowledge across three continents and various sectors within the industry, Houston is absolutely one of the most precise senior managers in her field. “I have been fortunate to be part of several outstanding international properties, and have worked across diverse business functions, from food and beverage to operations and management.” Having joined the hotel five years ago as the Executive Manager of Food and Bever-

Zeta Restaurant/Lounge Private Dining

Entrepreneur MARCH 2015

age, she was promoted to the position of Hotel Manager in 2011, then appointed GM a short two years later. “Currently, I am responsible for the overall management of the entire inventory at The Address Downtown Dubai including 196 hotel rooms, 190 hotel apartments and 438 serviced residences. I have closely associated with introducing CUT by Wolfgang Pack at the hotel, and I also actively participate in the Spa Development Steering Committee. Apart from day-to-day operational aspects, I also work towards establishing The Address Downtown Dubai as a destination venue in Dubai with a focus on lifestyle hospitality and entertainment.” The GM’s work doesn’t end there, she also acts as “operational consultant for a number of projects under Emaar Hospitality Group with a focus on space management, brand standards, quality assurance and food and beverage concepts.” For those of you arranging a corporate evening meal, Houston has cast her expert eye over all of the hotel’s F&B outlets and takes extreme pride in maximizing dining experiences, regardless of whether you happen to be an in-house guest or not. Voted “Best Hotel in the World” by Global Traveler magazine’s Annual Reader Survey Awards four years

running means that whether you are visiting Dubai for work or actually reside in the UAE, you’re guaranteed supreme service and exceptional menus for your meals at The Address Downtown Dubai with outlets such as The Cigar Lounge (British-inspired menu), Zeta Restaurant/Lounge (sharing-cuisine), and finally, the aforementioned CUT by Wolfgang Puck (fine steakhouse). Houston explains that marketing to a business guest is about pointing out the property’s “distinguishing strengths” of which there are many; location and a bevy of amenities being two of primary importance to the business guest in addition to service, service, service. Finally, the GM says that over the course of her career, luxury properties looking to court the business travel segment need to keep three actionables at the top of their agendas: “A great bedroom in a calm, tranquil environment and ambient lighting to ensure that guests are relaxed, superb concierge service as well as efficient laundry and housekeeping service, and not least of all, a sumptuous breakfast that takes guests through the day.” If you haven’t already paid a visit to The Address Downtown Dubai, Houston has just given you several reasons why you should

Recommended by the GM EXEC STAY “We have a dedicated team of well-informed concierges that will meet all requests of our guests. Additionally, the introduction of our in-room app means that guests can make their own choices and preferences in the convenience of their room. Our unique 24-hour check-in/ check-out allows guests to check in at any time of the day and be assured of an immediate checkin. We also have our Business Lounge with exceptional service standards that will appeal to all business guests- it […] opens to spectacular views of Downtown Dubai, assuring guests a sense of relaxation after long-hour flights.” DINE “It is no exaggeration that all our restaurants have a signature style and individuality. To name one, though, I will go for The Cigar Lounge on the 14th floor; I adore the privacy it offers. It is quintessentially British in feel and the dishes served reflect it. I would equally vote for Zeta Restaurant/ Lounge, more so for my personal involvement in its development. Specialized in Asian fusion cuisine, Zeta is today the city’s must-visit al fresco dining destination and is defined by the spectacular views it offers of Burj Khalifa and The Dubai Fountain. Building on the international concept of sharing menus, Zeta offers an extensive choice of tapas- from traditional and contemporary Japanese cuisine to Wagyu and Lamb Chops, fresh off the grill. Guests can also savor an unmatched menu of beverages and ‘ubertails,’ as well as our signature dish, The Fountain Roll.”

OPTIONS “One of the compelling attractions for business travellers that we will introduce shortly is the in-room app, a fully-equipped, state-of-the-art, e-service. It enables guests to make requests with the various departments within the hotel, from room service and housekeeping, to the concierge and laundry at the click of a button with in-room iPads. The in-room app also adds to guest experience by integrating the option of booking appointments for any of the five spas within The Address Hotels + Resorts, golf lessons and tee time at The Address Montgomerie Dubai or movie tickets for Reel Cinemas. They can also access services such as videos and movies on demand on the in-room TVs, as well as play their own choice of music and movies on the device. We have been the pioneers in concepts such as the 24-hour check-in system, and ‘Wi-Fi ‘on-the-go’ in our limousines. The launch of the in-room app is a testament to our efforts to remain at the forefront of the industry.” CONNECTIVITY “We have introduced several state-of-theart technologies to enhance the value that provide to our guests. We are now introducing advanced features such as the Smart Screen and Collab8 system, whereby guests will have BYOD [Bring Your Own Device] wireless collaboration that eliminates the need for any interface switching, resolution scaling or operating systems. Guests can also benefit from Collaboration notes– whereby

IMAGES COURTESY The Address Hotels + Resorts

Signature Spa Suite

The Cigar Lounge

Reception area

they can choose to view the main display content on their own device, grab a screenshot, take notes and save it as their own, independent of the main presentation. Our multi-touch support allows the user to swipe, scale and pinch on any connected multi-touch display, while the interactive whiteboard facility helps the multi-touch enabled Collab8 screen into a fully functional interactive whiteboard where they can create, annotate, illustrate, review, edit or highlight on the digital canvas. Any participant can drag and drop a file over the Collab8 cloud icon to share it with all participants in the room or open it on the main display. We also provide LCD support whenever client requests a conference room facility within the executive meeting room.” CONFERENCE CAPABILITIES “The hotel regularly hosts key international events for governmental departments, large MNCs [multinational

corporations], family-owned businesses, and special product launches. Stylish and modern, the meeting and event facilities can cater for eight to 550 guests with all the rooms providing excellent views over downtown Dubai. The Symphony Ballroom is one of Dubai’s most popular meeting venues and has impressive floor-to-ceiling windows that face Burj Khalifa and Burj Lake. The Symphony Ballroom, Rhapsody Ballroom and Boardroom are all equipped with cutting-edge audiovisual and IT systems with dedicated associates always onhand to assist with any requests. Our Symphony Ballroom is equipped to handle large-scale events with its flexible layout; today, it is one of Dubai’s most popular meeting venues. Guests have the convenient option of hosting break-out sessions at Calabar, Zeta, Fazaris and CUT by Wolfgang Puck for dining and coffee breaks. Two smaller rooms are available, purpose-built for sophisticated presentations.” MARCH 2015 Entrepreneur

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Art imitates life Global Art Forum 2015 gets techy

Hear ye, artsy folks, art season is back in full swing. Starting it off is the Global Art Forum, which will be held in Kuwait City from March 14-15 for the first time since its inception in 2007, continuing on to Art Dubai from March 18-20 at Madinat Jumeirah, Dubai. With digital media part and parcel of our daily lives, this year’s forum, Download Update?, will be focusing on technology and its influence on the art and culture world. The three-day forum will discuss the intersection of technology and “how we think, interact, learn and create.” Presented by the Dubai Culture and Arts Authority and Dubai Design District (d3), the forum will discuss the online art market, virtual museums, artists’ foray into technology and artificial intelligence, amongst others. Directed by art author and cultural critic Shumon Basar, he will also be joined by co-directors media entrepreneur and photojournalism platform Demotix founder Turi Munthe and MENA political and economic issues commentator and journalist Sultan Sooud Al Qassemi. To really get into the tech space, some of this year’s speakers will include Jawbone founder Alexander Asseily, Google Cultural Project director Amit Sood and education innovator Technology Quotient CEO Ayesha Khanna. www.artdubai.ae Left, top to bottom: Lost Walls, eL Seed and Jeffrey Dei, Art Dubai 2014, A selection of the 50 speakers at Art Dubai 2015, Canvas Contemporary Kingdom, Myrna, Art Dubai 2014

images courtesy art dubai

Lost Walls, Art Dubai 2014

Entrepreneur MARCH 2015

IN THE LOOP

t might just look like something out of Star Wars for some, but Dubai just announced that the very-real construction of a 4000-acre building project called Aladdin City will begin next year. Aladdin City will comprise of several residential and commercial buildings, in addition to hotels. The tallest of these towers will be a 34 storey high-rise. Aladdin City will be built in the Dubai Creek area, a historical commercial and touristic area that the UAE has been pushing to become a UNESCO World Heritage Site. Released

concept designs indicate that the complex will be situated outside the area that could potentially be a new World Heritage Site, pending UNESCO. Whether you find this project relevant or not, one thing is for sure: this is only the beginning of some ambitious building projects in the UAE. The Dubai Eye, currently being touted as the world’s largest Ferris wheel, is expected to be completed by 2018, and you’ll be able to check out the massive Dubai Frame at the end of 2015 if all goes according to plan.

Bahrain Crown Prince, HRH Prince Salman, says redefine the “war on terror”

ahrain Crown Prince HRH Prince Salman bin Hamad Al-Khalifa’s recent comment piece on The Telegraph has revealed his true thoughts on the global war on terror. The focal point of his op-ed: redefine the whole thing, as the term “war on terror” is much too vague; he believes that the focus should be on defeating what he calls “evil fascist theocracies.” He also claims that much like other global threats such as “fascism, totalitarianism, Cold-War communism,”

Entrepreneur MARCH 2015

the Islamic State , Al Qaeda, and the like need to be defined by their ideology. With that sorted, HRH Prince Salman believes that the right kind of policy -political, economic, and social- can be laid out to counter, and eventually, put an end to this threat. It’s an interesting perspective that most (if not all) of the coalition fighting these forces hasn’t taken into consideration, but we can all probably agree that a solution to this problem will take a lot more than the barrel of a gun.

Libyan officials withdraw “political isolation” law

ibya’s UN-recognized parliament in the small eastern city of Tobruk has revoked the “political isolation” law that they had passed back in 2013. The law, which banned officials during the Muammar Gaddafi regime from ever holding office again, had been criticized by everyone from MPs to NGOs, who called it undemocratic and an obstacle in Libya’s democratic transition. However, though the parliament in Tobruk revoking the law could show a sign of good faith in potential re-unification, its influence is actually quite miniscule. For starters, Tobruk is a city of only 120,000 people, and as far as Libya’s other political entities and actors are considered, its laws and policies are of no concern or influence to them. Tripoli’s new General National Congress (GNC), for instance, is currently dominated by the Justice and Construction Party, which many call as Libya’s branch of the Muslim Brotherhood. The UN had previously attempted to mediate talks between the GNC and the Tobruk parliament, but those were ultimately suspended in late February. The massive internal divisions, along with a power vacuum, has also paved the way for the Islamic State (IS) and another local Salafist group Ansar Al Sharia to make their way into Libya. With IS releasing a video that shows the execution of 21 Coptic migrant workers apparently in Libya, and with Egypt’s response to the same with airstrikes, Libya’s situation today almost mirrors that of Syria and Iraq. Perhaps passing that law has come a little too late.

www.telegraph.co.uk

Dubai announces Aladdin City

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Managing staff aspirations Three ways to drive the growth of both your human capital and your company By Suhail Al-Masri

eople often mix up aspirations with goals. Aspirations help define your goals, but the two are not the exact same thing. What do you need to live a life of purpose? What do you want from your job? Aspirations are different from individual to individual. Some people need the status and responsibility of a traditional career path. Others want financial security above all else. Some want more flexibility at work, etc. Aspirations differ, but the question remains the same: How can a company successfully manage the

aspirations of its employees in a way that would drive the growth of both the employer and the employee? Personal and professional aspirations

If your aspirations for 2015 are aimed at some level of career advancement, youâ&#x20AC;&#x2122;re not alone. The January 2015 Bayt.com Career Aspirations in the MENA survey has revealed that around seven in 10 respondents in the MENA region have set professional goals for themselves, with 26% having long-term

goals to achieve in the next five years. The top career goal of 54% of MENA professionals is to get a higher salary in the next 12 months. Other job-related resolutions included getting a new job (53%) and learning new skills (52%). In terms of personal goals for 2015, >>>

> barriers to professional growth

Graphs courtesy Bayt.com

The top two barriers to professional growth were poor management within the company (46%) and a lack of growth opportunities (45%). Over one quarter of respondents (27%) also reported favoritism in the workplace as a barrier, and one fifth reported a lack of training opportunities (21%), and a disconnect between educational qualification and current job (21%) as barriers to professional growth.

Entrepreneur MARCH 2015

TREPONOMICS Overall, 58% of professionals in the MENA are motivated at work, though 73% would be happy to relocate to another country for employment purposes. The UAE is the most popular destination for 28% of MENA professionals. Only four in 10 (42%) said they would rather be an employee than an entrepreneur, while 43% considers the ideal retirement age to be after 60. 72% of professionals in the region want to save more money. Other goals included traveling (37%), buying property (33%), and spending more time with family (30%). Respondents in the MENA were very positive about what 2015 has to bring, with four in five respondents (82%) reporting an overall positive feeling towards the current year. Slightly more respondents in the GCC region (84%) were positive about 2015, compared to North Africa (77%) and Levant (72%). Financial issues emerged as the top worry for 51% of respondents. This was followed by career path uncertainty

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(33%), worry about unemployment or losing their job (31%), and problems they face at work (29%). As for the biggest barriers to professional growth in the region, respondents in the same survey considered these to be poor management within the company (46%), the lack of growth opportunities (45%), and favoritism in the workplace (27%). Job satisfaction and motivation at work

Professionals in the MENA have many reasons for seeking employment and not all of them revolve around money. The Career Aspirations survey also indicated that the top reason for finding a job in the MENA is to consistently learn and gain experience (72%). Making money came second at 58%, followed by being financially independent and feeling useful to the society (both at 44%). And yet in the MENA, 24% of people claim to be able to save less than 10% of their income and a significant 31% of respondents are not able to save anything. Overall, 58% of professionals in the MENA are motivated at work, though 73% would be happy to relocate to an-

other country for employment purposes. The UAE is the most popular destination for 28% of MENA professionals. Only four in 10 (42%) said they would rather be an employee than an entrepreneur, while 43% considers the ideal retirement age to be after 60. On a positive note, more than half of all respondents (57%) are satisfied with their professional growth over the past year, although 64% feel they deserve to work in a higher level position. Three in five respondents report having a mentor or role model in their careers. What did the respondents choose as the most preferred industries to work in the MENA? Oil, gas and petrochemicals (12%), and construction, with construction not surprisingly being a very popular industry in Qatar (15%) and Saudi Arabia (12%). Holistic approach

In light of the above, we can confidently say that the employee management landscape in the MENA region has changed drastically over the past few decades. Nowadays, companies need to focus on managing the career aspirations of a more diverse and informed workforce.

Graphs courtesy Bayt.com

> OVERALL SENTIMENT ABOUT 2015

Entrepreneur MARCH 2015

> FACTORS TO INCREASE MOTIVATION AT WORK Three-fifth of respondents reported that higher salaries and perks/benefits wold increase motivation at work. More respondents stated that opportunities to express creativity (47%), and work-life balance (45%) would increase motivation, as compared to being promoted to the next level (40%).

Higher salary and perks/ beneﬁts

Opportunity to express my creativity/ showcase my skills

Better work-life balance

Promotion to the next level

More focus on training/learning new skills

More challenging work

Recognition of my work by peers and superiors More positive reinforcement from my supervisors

1. Realize the importance of managing employee aspirations

The concept of aspiration management draws heavily from Maslow’s Hierarchy of Needs. It lists self-actualization as the highest need individuals aspire to realize in their life. Self-actualization simply means being the best you can be at what you do. From the company’s point of view, skill shortages can pose a genuine problem. In fact, 61% of respondents in the January 2015 Bayt.com Skills and Hiring Trends in the MENA poll say that their company suffers from a lack of skills. Managing employee aspirations effectively can thus be a key driver of growth for both employees and the company. 2. Explore employee aspirations

Knowing employees aspirations is the first step towards successful aspiration management. These aspirations may be related to where they are headed in their professional life, such as wanting a promotion or a salary increase, or personal goals, such as how they plan to maintain their work-life balance. Once they know what they want to achieve

in life, you can help them convert these aspirations into more specific, measurable and time-bound goals. Data from the Bayt.com Career Aspirations in the MENA survey shows that while 68% of professionals in the MENA say they have set professional goals for themselves, 22% have not set any goals. The latter are specifically the ones who will need your help in defining short- and longterm goals. 3. Provide necessary resources

Once the aspirations have been defined and quantified, all that is left is finding ways to achieve them. For aspiration management to be effective, employees’ goals need to be aligned with organizational goals. Providing the necessary training is the key to achieving this

alignment of goals. Across the MENA, 45% of professionals cite the lack of training and growth opportunities as the main barrier to their personal career growth. Fortunately, investment in training is projected to increase in 2015 according to 73% of respondents in the Bayt.com Skills and Hiring Trends in the MENA poll

Suhail Al-Masri is the VP of Sales at Bayt.com. Al-Masri has more 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. MARCH 2015 Entrepreneur

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#TAMTALKSTECH Control Motorized Rotating Camera with O-click

The game changer OPPO releases smartphone with rotating camera

Global technology firm, OPPO, is the first to release a smartphone with a rotating camera. The N3, a refreshed version of its predecessor, boasts a 16MP camera that can take high resolution images and rotate 206 degrees- for selfies, of course. In a marketplace dominated by smartphones offering two cameras, one rear and the other front-facing, the N3 is truly changing the game by offering a single camera that moves

to find its subject. You can control the motorized camera in three ways including o-click, gestures and touch. While the innovative design of the N3 starts with the camera, it doesnâ&#x20AC;&#x2122;t stop there. It also features secure Touch Access which responds to wet or gloved hands allowing for a higher recognition rate. N3 has 2GB RAM, a 5.5 inch screen made of Corning Gorilla Glass 3 and is powered by the Snapdragon 801 quad-core processor.

Oppo N3 smartphone wth motorized rotating camera

Entrepreneur MARCH 2015

Clockwatcher Montblanc combines wearable tech and fine timepieces

Montblanc has combined wearable tech and fine watchmaking to create the TimeWalker Urban Speed e-Strap. The new accessory is a pairing of the traditional TimeWalker mechanical watch and a new, functional wristband made from Extreme Montblanc leather. The e-Strap is packed with remote controls for camera

and music, smart notifications and acts as an activity tracker to monitor your physical activity over time. This brilliant mashup of old and new is compatible with select Android and iOS smartphones. You can keep track of time with a classic Montblanc timepiece and stay digitally connected with just a flip of the wrist.

TimeWalker Urban Speed e-Strap

Conceptual development Sony makes user experience a priority

Double up Braun Face The Braun Face could be your tech ticket to smooth, glowing skin. The two-inone beauty and facial care device comes with two heads that can easily be swapped for different purposes; one head is for cleansing and the other is for epilation. It’s an efficient way to remove hair from small, hard to reach areas of the face, and it uses sonic cleansing technology to rid the skin of impurities. The brush head oscillates to remove make-up and gives your pores a deep sweep in less time than manual

exfoliation. To maintain the epilator, you simply need to change the brush refill every three months. Braun Face is a great dual-use tech product leaving you fresh-faced and ready to go.

Sony launched its UAE flagship boutique to feature its newest high definition audio products and give customers an unparalleled shopping experience. The new concept store features a wide-open storefront rendering unobstructed views of five distinct product zones for gaming, mobility, digital imaging, home entertainment and high definition audio.

Intended to engage shoppers who prefer to ‘try it, before you buy it,’ the new Sony outlet is located in The Dubai Mall. Installations include areas set up to get your game on with PlayStation or photograph scaled-down models of the Burj Khalifa; choosey fans, you can now pick your products and make purchases with confidence.

#TAMTALKSTECH

life to how to coordinate your smartphone accessories. Visit www.theglobalgazette.com and talk to her on Twitter @GlobalGazette.

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

MARCH 2015 Entrepreneur

The middleman

Twitter acquires Niche to connect social media users with advertisers

hese days, ordinary people can become social media sensations with just a mobile phone, an Internet connection and the touch of a button, possibly even gaining a cult following on their platforms. After a lot of hard work and some viral luck, it’s not unusual that digital influencers have sometimes become today’s go-to talent of choice for advertisers. Twitter is thinking along the same lines too- for an undisclosed amount, the

company has announced its acquisition of social media startup Niche in a blog post. Describing itself as a platform to find “all the world’s creators in one place”, Niche helps corporations and brands connect to Internet celebs (or to be more precise, digital influencers) for their respective target audiences. The platform, dubbed a “talent scouting service and advertising agency” by The New York Times, has received US$3.1 million in two rounds from investors and boasts of more than 8000 social media influencers with over 100 brands and agencies in its database, plus analytics to see what content works and what doesn’t (WSJ). Although the reason behind the move wasn’t announced, it’s possible that it can now tap a revenue stream for Vine (another platform owned by Twitter). Case in point: New York Magazine featured Viner Nash Grier who made $4,166 a second with branded videos for Virgin Mobile and MTV, a number as close to the $5,827 per second that Robert Downey Jr. got paid for his role on The Avengers.

At all costs Top five errors made by money-losing e-commerce sites By Brett Relander

etting up an e-commerce site is easy; there are ecommerce solutions that can create a snazzy store for you in minutes. However, running an e-commerce business is a totally different ballgame. Attracting traffic and generating revenue in the face of fierce competition is hard, but businesses that avoid these basic missteps can gain traction and make excellent profits.

mobile optimized website. Not enough payment options and a cumbersome purchase process result in customers leaving empty-handed even though they were on the cusp of completing a transaction. Add low-quality images and poor product descriptions to the mix and you have put together a potent combination that will definitely prevent your ecommerce business from taking off.

1. Making things difficult for the customer

2. Not targeting customers

This includes almost everything that you can do to turn customers away. It begins with a site design that is not intuitive and results in tedious navigation. In today’s market, this includes not having a

Customer acquisition is one of the biggest costs that e-commerce sites incur. Businesses without a system for targeting specific customer personas, as well as marketing to existing customers, spend excessively

Entrepreneur MARCH 2015

Qualcomm fined by the Chinese government for violating anti-monopoly laws

Qualcomm, best known for its 3G and 4G smartphone chips, has been fined 6.088 billion yuan (US$975 million) for reportedly violating anti-monopoly laws. The tech firm, which generates most of its profit from licensing patents for chips to other companies, is said to have bundled patents in a way that forced licensees to purchase beyond their business needs. To protect local businesses and level the playing field, China’s National Development and Reform Commission, put an end to the excessive bundling and levied a hefty fine. Qualcomm currently makes half of its $26.5 billion revenue from the Chinese market.

targeting the wrong audience. Even though first-time visitors drive 73% of online conversions, these are less profitable because of the higher cost of customer acquisition. To effectively target customers, capture your customer’s information. Then you can market at a lower cost in a more personalized manner. 3. Low profit margins

Rookie e-commerce sites do business at a loss until they achieve economies of scale. If and when they do make money, inventory, payment gateway fees, shipping, advertising, staff and technology nibble away at profit margins. Incentives are a great way to build a customer base but only when the financials are analyzed accurately. Customers are always on the lookout for discounts. Providing deals, contests, giveaways, etc., is a great way to build your

database and expose your brand to more potential customers. 4. Not marketing your business effectively

Marketing an e-commerce company requires savvy search engine marketing, social media marketing and content that fulfills the latest search engine optimization requirements. These activities are intensely data driven and require funds for advertising. Analytics plays an important role in just about every activity of an e-commerce site. The choice of products, customers to target, platforms to advertise on and even the choice of vendors is influenced by data. To fully optimize your sales funnel and maximize profits, take the time to fully understand your on-site analytics as well as the data you’re capturing from marketing channels, social media and search engines.

See this article in its entirety at Entrepreneur.com

TECH

PENETRATING YOUR ONLINE TARGET MARKET A strong digital presence will cost you money By Alexander Rauser

any young entrepreneurs are at the forefront when it comes to digital marketing and can be very creative in using unconventional or new ways to market their business. There are a multitude of free tools online that cater to the innovative mind, but there are still roadblocks in the way to building a solid digital presence. Why should you spend money instead of trying to free-ride yourself to digital success?

Entrepreneur MARCH 2015

Cost conundrums

There are tons of free online tools that you can use to get market insights, find business opportunities and spread the word about your company. For example, you can find influential people in your social network or people that share a common interest. You can conduct market research on what users are searching for online and what they are reading. So, while there are many free tools available, is there really something called ‘free marketing’ to begin with?

When referring to paid media in digital marketing we mean paying to promote your content online. Paid media makes a lot of sense since it helps you to push marketing information out there quickly, target your users effectively and measure your results. At the first glance everything seems be a one-way road that leads to more and more toll gates while driving along the digital marketing highway. Let’s explain this further. Companies that first spent millions to build large communities with thousands of fans on social networks like Facebook are now being forced to advertise on their own brand pages to get reach with their content. What was considered free advertising before has become a bidding game across many of these platforms. There is a good reason for this. Marketers more or less took over users’ newsfeeds meaning that sites like Facebook had to do something about it– and, for Mark Zuckerberg, it’s a good opportunity to make some money at the same time. Today, in most cases, if you have a company fan page on Facebook the only way for anyone to see your post is to either pay for it or spend hours of time optimizing your posts to get lucky. Facebook is not the only case, and there is a clear pattern across other online channels. For example, take search engines, email or guest blogging and you will find yourself in a world of paid media.

content placement, promoted content or anywhere else you have to pay to place your material. Paid media makes a lot of sense since it helps you to push marketing information out there quickly, target your users effectively and measure your results. The only downside? It is not free. The good news, however, is there are other forms of media such as owned and earned media: Owned media All the digital assets

and content we own as a brand such as blogs, websites and social channels usually represents the part where a lot of digital investment goes. This is where many companies go wrong. Typically, they spend a lot of their budget on the creation of complex assets and leave little to none left for the maintenance and promotion of the same.

Earned media These are your

retweets, reposts on Instagram, social shares on platforms like Facebook and Google+, links, product reviews, interviews and so on. This is the one that businesses like the most, as it’s free of additional charges for the most part. While earned media is technically free, the reality is you have to do something to earn it. That is where you going to spend your money- in the creation of great content that people will like and that they share of their own accord. The good news is that the investment made here can pay back exponentially compared to other forms of media. By comparison, paid media is pretty linear. The more you spend on your reach, the more reach you get. However, if you land a killer piece of content it can take you far beyond your initial spend. That being said, there is always a risk it will take you nowhere at all. Experimenting with different content ideas to see what works best is one way to build your digital presence. However, larger companies are usually not the best risk takers and this is where smaller business can leverage their agility as an advantage. So is it safe to say that there is no free marketing at all? Well, there is free, but it still costs you and your company time.

Pay your way?

When referring to paid media in digital marketing, we mean paying to promote your content online. This could be a banner advertisement,

Crafting your company’s digital footprint

A young company can garner some decent coverage by implementing a

solid social presence around a business that is driven by its employees or founders. It all usually starts with your own circles and friends. Creating a narrative about your company, your products or your people will build an online brand for your business and gain exposure. Your friends and associates may recommend your pages or share your content to gain more visibility. Once this is maximized, one can start seeking new “friends” by engaging with likeminded online users or online individuals from the same industry. People still like to buy from other people and that’s why it’s sometimes great to tie it all together into a personal story and create something engaging for your audience using social media. (But, as previously stated, this takes time- and time is money.) An important point to note: doing it right it can actually have some great impact on other aspects of your online marketing including SEO, PR and general content marketing. But there is a reason why every seasoned digital marketer will advise entrepreneurs to create a full digital marketing plan across multiple channels. It’s not just to increase the actual scope, but to create a round digital offering and avoid putting all of your eggs in one basket. The result of this is that the effort that will go into your digital presence will be far from free and therefore every business should be prepared to set aside a decent digital marketing budget to get things going and, by the end of it, there needs to be a return on the investment either way

Alexander Rauser has over 15 years of experience in the digital media industry with both a creative and a technical background. He studied media engineering in Germany with a double major in online and offline media. After heading the digital division of a Dubai-based agency for five years, he fulfilled his long ambition to found Prototype Interactive in 2010, an interactive agency specializing in digital solutions for web, mobile and social media. The company is now considered as one of the top digital agencies in the country working with international and regional brands. Talk to him on Twitter at @ARauser. MARCH 2015 Entrepreneur

TECH

SMEs are getting more and more connected Hany Fahmy Aly hooks you up

“

ustomers have told us that they want simplicity, innovation, flexibility, and service. These key pillars underpin both our short and long-term plan, plus more importantly, everything we do,” says Hany Fahmy Aly, Executive Vice President of Enterprise Business at du. SMEs take their connectivity needs seriously, and for 2015, small and medium enterprises are a huge area of concentration for the UAE-based telco. “Our focus is on SME customers; they are key to our business and our role is to deliver their communications and connectivity requirements. We are committed to exceed customer expectations by providing them with simpler solutions which enable businesses in the UAE to focus on their business while we deliver their telecommunications as their trusted partner of choice.” One notable endeavor is du’s Business Help Roadshow- an undertaking that allows their enterprise client base to sit one-on-one with a representative to get personalized service and ask for tailored recommendations suited to the scale and needs of the SME. “Business

Hany Fahmy Aly, Executive Vice President of Enterprise Business at du

Entrepreneur MARCH 2015

Help Roadshow gives SME customers the opportunity to meet face to face with du’s experts, for advice and rapid query resolutions. It allows the attendees to share their issues, challenges and questions in the areas of billing, technical, and sales for both mobile and fixed services towards faster resolutions on the spot. From each roadshow we were able to resolve 75% of customer issues.” The Business Roadshow toured different Emirates throughout 2014, and according to Aly, will continue to do so in the year ahead. Currently, the SME client makes up 40% of du’s enterprise customer base, and is showing good increases. Another connectivity enterprise trend is that more SMBs are adopting cloud computing, and Aly points out that the benefits revolve around flexibility. If you haven’t already looked at it as an option for your enterprise, you might want to consider the business without borders perspective of cloud computing. “There are three key benefits to cloud computing: a global workforce, improved accessibility and disaster recovery.” Basically, going with cloud computing for your business means that you aren’t restricted by geography when onboarding talent simply because everyone has access simultaneously “to critical data anytime, anywhere and having the data secured addresses the business demands. Sharing, storing and reproduction of data can’t be easier, and finally, [there’s] no need for complex disaster recovery plans. Cloud computing providers take care of most issues, and they do it faster than physical server engineers.”

du Business Help Roadshow for SMEs in 2014

The executive summary

Connectivity trends

What value-adds should entrepreneurs be looking for in enterprise plans with their providers? “We believe that entrepreneurs and SMEs should focus on improving their communication channels with their clients, enhance ability to operate their office anywhere anytime, ensure security of their transactions and last but not the least – look for added value on their roaming and data needs. At du, we have many different value added services which we can customize plans to suit each customer’s needs, like more data, national or international minutes. We also have a number of leading edge managed services that provide additional services for any sized SME. This starts from security solutions, hardware and bespoke offerings with a dedicated team- this is a huge growth area.” What connectivity trends do you expect this year? “Globally there is a shift towards digital, online and cloud applications, and we expect customers within the UAE will also be focused on new ways of working, new channels to their customers. Some key trends are SOHO and SME- customers can now access corporate grade solutions at affordable prices with the move towards cloud based solutions which is a great benefit to this ever growing segment. Also, there is a clear move away from CAPEX and heavy IT investment to a more OPEX-driven per seat approach and solutions are now device-agnostic. You can access all of your important documents, email and shared files from your mobile, laptop or desk computer and they all link together for an easy to use customer experience– all with corporate grade security for peace of mind. For example, through our partnership with Microsoft on Office 365, SMEs can get all of their email, calendar, excel and other solutions on any device for the price of a cup of coffee per month.” What is the most popular current business plan for du’s SME clients? “The Business Advantage Plan is a popular plan among SMEs as it comes with a built in loyalty and value for money offering. It was designed specifically to address the needs of the UAE’s SME-heavy community. The Business Advantage Plan rewards customers with more benefits as their subscription matures. So, the longer they use the plan, the more added value they enjoy with monthly fees reduced on a yearly basis, plus additional bundled national and international minutes, over five years of incremental benefits.”

@EconomistEvents #EconFutureofWork www.futureofwork.economist.com

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HRH Prince Saud Bin Khalid al-Faisal Deputy Governor for Investment Affairs, SAGIA; President, National Competitiveness Center

HE Sami al-Qamzi Director General Dubai Department for Economic Development

HE Salma Ali Saif bin Hareb Chief Executive Officer JAFZA and Economic Zones World

For full speaker line-up visit: www.futureofwork.economist.com

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TECH

Put your money where your app is Using slick UI and behavioral economics, Wally+ lets users manage their finances and spending habits By Pamella de Leon

rom what you spend on new kicks, to what you splurge on when you’re out with friends or at your favorite resto, it helps to know your spending habits. Motivated by the necessity to manage people’s personal finances, founder and CEO Saeid Hejazi –who believes that behavioral economics can impact our financial literacyand his team wanted to offer a simple and powerful tool that would let people enjoy life, while being able to keep track of their expenses. For a Dubaibased app that launched in 2013, the personal finance management app Wally has a lot of pull. After a positive response for their Wally iPhone app, the company says that they received a considerable number of requests for an Android version, which they developed and subsequently

Saeid Hejazi, CEO and co-founder Wally

“We use behavioral segmentation to compare users to people ‘similar’ to them- with similar demographics and spending patterns, to give users context into their financial behavior.”

Instead of just using graphs and pie charts to condense expenses, Wally+ utilizes “predictive logic” which allows the app to remember frequent venues and people with each expense.

released as a newer version called Wally+. But with an abundance of finance management apps in the market, how is Wally+ any different? With a sleek and minimalistic UI, they match its aesthetic appeal with a “machine intelligence-led approach”, says Hejazi. “We believe in focusing on the experiences surrounding each expense we make.” Instead of just using graphs and pie charts to condense expenses, Wally+ utilizes “predictive logic” which allows the app to remember frequent venues and people with each expense. At the same time, users can also add photos (like of receipts) and notes to “track sentiments” and make us appreciate each data input. To help users further understand their spending and saving patterns, the app has also incorporated aggregated and anonymous data from the Wally+ community. “We use behavioral segmentation to compare users to people ‘similar’ to them- with similar demographics and spending patterns, to give users context into their financial behavior.” Though they’ve had updates since their first version, their core principle is still keeping Wally+ a “simple and intuitive” product that’s focused on providing users context to understand their financial patterns, while constantly developing and testing for better

features. In fact, to encourage reviews, Wally+ has a “feedback loop” with users that allow them to easily communicate their disapproval of any new change or addition to the app. With this mindset, the app’s main challenge remains the struggle of balancing the team’s ideas with the suggestions of the users. In terms of its user base, the app has gained the interest of millennials since they are more tech-savvy and financeconscious, with -according to a Bayt.com survey- only 41% of millennials in the UAE attesting that they “live comfortably in their personal income,” while 31% say they’re “just getting by” on meeting different expenses based on their current income. For 2015, Wally+ plans to take their Android version out of the beta phase, update their iOS version and invest their resources for Wally+ to have better features and give more data-backed insights into users’ finances

USERS 82% of the users are between the ages of 18-35 years old, especially in India, Brazil and U.S. MILESTONES 6,000 people on waitlist to test Android app RATINGS 4.7/5 stars average from 187 ratings from the iTunes App Store; 3.5/5 stars average from 817 ratings from Google Play FUNDING Initially bootstrapped, they now have angel investors and are getting ready to launch their first institutional round (Series A) with a US$5-6 million goal. BUSINESS MODEL Freemium, although Wally+ will soon charge small fees for premium features for niche users such as currency conversion and family management tools. MONEY ADVICE “The most important step towards being in control of your money is knowing where it goes. You need to understand the problem before finding the solution. Wally+ helps with this by giving you a picture of your financial life and spending patterns.” MARCH 2015 Entrepreneur

TREPONOMICS

ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

Considering entrepreneurship? Five things you need to be aware of before you start your business By James Dyson

ver the years, I’ve been referred to as an entrepreneur, a term usually linked with the business world. As an engineer, I used to find that peculiar. However, it derives from the French verb entreprendre which means ‘to undertake’ or simply ‘to do.’ As my days are filled with ‘doing,’ perhaps I am one after all. And if we apply the same principle to other engineers, people like Thomas Edison or Kenneth Grange– the ‘do-ers’ behind some of the most useful and commercially successful products of the 20th and 21st centuries- I’m in good entrepreneurial company.

You need to make sure that your product is different and better than anything else out there. People want value for money and will pay a premium if they can see that they’re getting a superior design that will last. 64

Entrepreneur MARCH 2015

Here are some of the lessons I’ve picked up through trial and error which I’d offer to would-be entrepreneurs. 1. Trust your own instincts

Stand by your idea. I wanted a clear bin on my machine because I believed people would want to see evidence of how their machine performed; in other words how much dirt was being picked up. Market research told me I was wrong. Some people thought I was mad, and one retailer even requested that the bin be frosted before they sold it. A few months later they acquiesced, admitting that people were coming into the shop asking for a Dyson with a clear bin. 2. Take calculated risks

Research from Cambridge University in the U.K. found that entrepreneurs’ brains were more active in the region

responsible for making “risky” decisions. This trait becomes even more crucial while we’re in the midst of an economic downturn. I would argue that it’s a perfect time to take a risk, since you’ve got a chance to get ahead of the competition while they’re hibernating, waiting for good times to return. Dyson actually started in a recession, launching DC01 in 1993. Through economic ups and downs, we’ve continued to invest in the calculated risk of invention, and it’s paid off. 3. Be an innovator

When some people think of an entrepreneur, they think of someone who has found a gap in the market which they are able to exploit– a quick fix to make a fast buck. But that’s not enough for enduring success. You need to make sure that your product is different and better than anything else out there. People want value for money and will pay a premium if they can see that they’re getting a superior design that will last. Long-term success requires something that’s genuinely different and better. 4. If you can, do it on your own

I spent years trying to convince large multinationals about cyclone technology for vacuum cleaners. Some were worried it would affect their lucrative >>>

TREPONOMICS bag sales. The fact that it worked better was irrelevant- they just wanted to play it safe and protect what they had. As the companies had grown ever bigger, their appetite for risk had shrunk. Fundamentally, they were business people, not designers or engineers, and numbers took priority over ideas. In the end, I funded and manufactured the dual cyclone vacuum cleaner myself. It can be tough and it can get very lonely, but the rewards are greater than signing away your hard work to someone else. If you show total belief in your invention it helps others to catch on. 5. Never give up

You have to be persistent, determined– dogged even. It took five years and 5127 prototypes before the Dyson vacuum cleaner was ready for market. Success doesn’t come overnight, and it may take months or even years to see your idea come to fruition. And you don’t stop

ETHICS | ESQUIRE GUY | SKILLSET | MARKETING | PRO

there. We could easily hang our tools up, safe in the knowledge that we’ve solved the problem. Our work here is done, let’s go home. But the entrepreneurial spirit throughout Dyson has ensured that this has not, and will never, happen. We’ll continue to innovate and push our technology forward. After 12 years of designing new technology for vacuum cleaners, we moved into completely unknown territory with the Dyson Airblade™ hand dryer. We’ve tackled bladeless fans and digital motors. You have to be persistent, determined– dogged even. It took five years and 5127 prototypes before the Dyson vacuum cleaner was ready for market.

There is an entrepreneurial ‘can-do’ attitude that defines us as an organization. Who knows what else we’ll turn our attention to in the coming years. There are plenty more problems to solve

Four easy ways to support your company… without giving up your convictions (From someone who is anti-corporate jargon) By Rani Nasr

ynergy is one of the most overused terminologies in motivational corporate meetings, where most attendees are secretly scrolling through their social feeds looking for something mildly interesting to make the present moment seem a little less grey. Synergy is indeed a key success factor for every task that is performed by a group of people, but forcing it on a company culture that’s not ready for it is counterproductive. To cultivate fertile soil for a collaborative effort like business synergy, the reform should start at the individual level. A somewhat cliché adage offers up that we should “look within yourself, not at the fault of others,” and it is pretty accurate. Reform is a simple process of adopting new (easy) habits that will help you grow individually within your work environment. I’ve done it, and I’m the least likely person to respond to hierarchies and companyspeak. Brainwashing jargon doesn’t have to be part of your new outlook, and here are four aspects that work for me. 1. Knowledge One of the greatest things about living in this day and age is that you can access the collective knowledge of all humans that walked this earth before you

Entrepreneur MARCH 2015

with a simple swipe of the thumb. You can learn more than you did in years of college via free online courses. Free courses are all over the Internet on interactive userfriendly platforms that teach everything from the basics of entrepreneurship to corporate finance, programming to quantum physics, and even how to write a proper article. Brains are like any other muscle in the body- if you don’t use it you lose it. 2. Attitude Maintaining a positive attitude at the office is crucial for you, your colleagues and your company. The office environment becomes a haven for stress if all you hear and feel are feedback loops of negative attitude. However, sometimes staying a positive ray of sunshine is tricky business under the enormous pressure of everyday tasks and communications. That’s when you need to hack your energy flow for maximum endorphins following a simple and healthy morning ritual. Have a green breakfast, do a 10 minute workout, set one important goal for the day and get to it. Also, play smooth, beautiful music. 3. Performance Upholding a high performance rate is what you are paid to

James Dyson is the founder and owner of Dyson. Frustrated with his bagged vacuum cleaner that lost suction, Sir James set about solving the problem and developed cyclone technology. After thousands of prototypes the first dual cyclone vacuum cleaner DC01 was launched in 1993. As Chief Engineer, Dyson is an integral part of Dyson’s R&D process and works full-time out of Dyson’s Malmesbury headquarters. Dyson spent one year at the Byam Shaw School of Art (now part of Central Saint Martin’s College of Art and Design) before reading furniture and interior design at the Royal College of Art.

do. The single most important aspect of your career is to be consistently productive without letting your standards slide. If you do a quick Google search, you’ll find thousands of 10-step articles detailing the process of how to hack productivity, all with one thing in common: work in short bursts of strong, uninterrupted focus, with frequent short breaks. Use a timer, work for one hour straight, then take a five minute break and repeat. It’s a simple (but life-changing) habit. 4. Reliability and accountability Employers know that everybody has their limits and their bad days. No one is expecting you to give 100% effort 100% of the time. However, making missed deadlines and sub-standard deliverables a habit is career suicide. Ensure that you are reliable in submitting tasks on time with a decent quality- by decent I mean one that you are proud to present as your work. In case you do mess up, admit your failures before pointing fingers, no one likes a snitch and the positive way forward entails taking responsibility for your actions. Once you have reinforced these habits within yourself, you can begin to lead by example. The gears of synergy will soon start spinning, and whoever doesn’t ride the wave will be left behind. Adoption of good habit says a lot about who is behind your business agenda, and that doesn’t just mean tossing about a few brandfriendly words.

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‘Trep trimmings

The executive selection F

rom better goods to boardroom wardrobe bests, each issue we choose a few items that make the approved executive selection list. In this issue, we present selected fragrances that make the right impression, and some better leathers by Kaizer.

You’ve got baggage! Boardroom-friendly baggage that’s durable and good looking? Yes, it is possible. Besides the fact that you’ll appreciate the lines of Kaizer’s full grain Italian handcrafted leather ranges, you’re now able to shop their selections of accessories, luggage, and corporate gift packages online. Our pick of the finelydesigned litter is the Statesman Diplomat in vegetal-tanned Tus68

Entrepreneur MARCH 2015

can-leather in any one of three dignified shades: black, dark brown or brown. The detachable shoulder strap makes the Statesman useful for travel as well, and the internal compartments made for cards, smartphones, and even pens keeps your items organized on the go. The brand’s signature lining and subtle hardware add to the overall look and feel. www.kaizerleather.com

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Kaizer’s got a handle on things

In-scent-ives

Fragrance code of conduct for professionals Finding a suitable fragrance that you can wear to work can be challenging since you need to ensure that it’s not overpowering (and offensive). Several North American companies are banning fragrances at work, citing employee allergies and staff discomfort caused by over-application of scents. In this region, while we haven’t yet moved in that direction, your colleagues are something that you should factor in when choosing and applying your fragrances. The first basic rule? Less is more- the concentration of the scent should be taken into consideration when you apply your fragrance. An Eau de Toilette is not nearly as concentrated as an Eau de Parfum, and since there are less essential oils involved in

the production of the scent it wears for less time. Many better men’s perfumers develop Eau de Parfum versions, so do pay attention when you choose your fragrance- this way you’ll know what you’re in for when you apply it. The second rule of fragrance (both in and out of the office) is layering. If you’re going to shower with a heavily-fragranced shower gel or bar of soap, try and make sure it’s the same scent as your spritz fragrance so that they don’t conflict and play against one another. If your fragrance of choice doesn’t have a matching shower gel or bar of soap, we suggest opting for unscented products and let your Eau de Parfum stand alone.

For him Editor’s Pick Eau de Toilette Givenchy Gentlemen Only Barber Edition Editor’s Pick Eau de Parfum Dolce & Gabbana Pour Homme Intenso Ferrari Essence Oud

MARCH MARCH2015 2015 Entrepreneur

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key here is consistency, consistency, consistency. 7. Show compassion Understand the circumstances surrounding the decisions and actions taken by team members, and act for the greater good of the team goals. Emotional intelligence, empathy and sympathy, are important to the health of your company.

A committed team is essential to any successful business, and so focusing on your human capital is by far the greatest investment you’d be making. Growth opportunities, a good support system, and open communication channels are easy to build into your business framework, and they go a long way for staff retention

‘Trep talk ME

Say it like you mean it Seven ways you can establish loyalty (and even love) in your team By Shoug Al Nafisi

n creating an atmosphere of teamwork, you first need to establish a sense of belonging, and then a vibe of responsibility that keeps that team alive. Working towards a common goal in harmony is essential for any company’s morale and even for asset delivery. Loyalty is another ballgame altogether, and here are seven ways to get your team to say “I do.” 1. Show them love To establish commitment, your team needs to see passion for the job being done day-in and day-out. Your team is more likely to stay tightly-knit if they share that passion with you. Take it a little further and actively discuss the factors about your work that you find remarkable. 2. Open communication channels Being accessible doesn’t necessarily mean getting too friendly. Be within reach to be able to resolve conflicts quicker with no misunderstandings, and leave no loose ends. The last thing you need is a surprise resignation, only to find out it was something that could have been rectified easily. 70

Entrepreneur MARCH 2015

3. Tune in Listen to staff interests, and try to identify with their motives. The rest of the team might actually benefit from one member’s enthusiasm and drive. Similarly, hearing out staff viewpoints keeps you in the loop, and gives them a platform to voice concerns. 4. Exult together Hold people accountable for wins, individually and collectively. Announce a team member’s accomplishment, and let them take the win. More importantly, recognize your biggest contributors to that accomplishment by offering them praise one-to-one. 5. Be a role model Set an example for the attitude you’d like your team members to have. It is also your responsibility to set the record straight when it comes to member roles and responsibilities, and confirming obligations, leaving no room for overlap. 6. Support progress Give praise, feedback and guidance continuously throughout all project stages. The

THE BUSINESS www.fryingpanadventures.com THE ‘TREP Frying Pan Adventures, founder Arva Ahmed Q What would you say is the MENA region’s biggest challenge for entrepreneurs? A “Navigating a legislative framework that is designed for massive corporations and wholesale experiences, not necessarily for SMEs. The good news is that SMEs seem to be on the government’s radar, and this is already being addressed in certain ways. Free zones have opened gates for many entrepreneurs who may not have had the capital to start business here back in the 90s- so we have come a long way, but there’s still more to go.” Arva Ahmed

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The candy trigger by the checkout line (and why we fail with new habits) By James Clear

elling candy bars can teach you a lot about building better habits. Before I tell you why, let’s start at the beginning.

The science of candy bars In 1952, an economist by the name of Hawkins Stern was working at the Stanford Research Institute in Southern California where he spent his time analyzing consumer behavior. During that same year he published a littleknown paper titled, The Significance of Impulse Buying Today. Stern described a phenomenon he called Suggestion Impulse Buying, which “is triggered when a shopper sees a product for the first time and visualizes a need for it.”

Entrepreneur MARCH 2015

Suggestion Impulse Buying says that customers buy things not necessarily because they want them, but because of how they are presented to them. This simple idea- that where products are placed can influence what customers will buy- has fascinated retailers and grocery stores ever since the moment Stern put the concept into words. How to sell candy bars Candy sales are very seasonal. Bulk candy purchases in North America tend to be made around Halloween and other holidays, which means during the majority of the year candy never makes it onto the grocery list. Obviously, this isn’t what candy companies want since

they would prefer to have sales continue throughout the year. Because candy isn’t an item you are going to seek out during most trips to the grocery store, it is positioned in a highly visible place where you’ll see it even if you aren’t looking for it: the checkout line. But why the checkout line? If it was just about visibility, the store could put candy right by the front door so that everyone saw it as soon as they walked inside. The second reason candy is at the checkout line is because of a concept How can you change your environment, so that you don’t have to seek out your new habits? How can you adjust your kitchen so that you can eat healthy without thinking? How can you shift your workspace so that digital distractions are minimized? How can you create a space that promotes good behaviors and prevent bad ones? Surround yourself with better choices, and you’ll soon find yourself making better choices.

You can perform your habit at a time when your energy is right for it. Stores ask you to buy candy bars when you are most likely to say yes. Similarly, you should ask yourself to perform new habits when you are mostly likely to succeed. called Decision Fatigue. The basic idea is that your willpower is like a muscle. Like any muscle, it becomes fatigued with use. The more decisions you ask your brain to make, the more fatigued your willpower becomes, and there is the ticket. If you see a box of candy bars at the front door, you’d be more likely to resist grabbing one. By the time you get to the checkout counter, however, the number of choices about what to buy and what not to buy has drained your willpower enough that you give in and make an impulse purchase. This is why grocery stores place candy at the checkout counter and not the front door. Ok, but what does a chocolate have to do with building better habits? Three ways to change your habits At a basic level, a store that wants to sell more candy wants to change human behavior. And whether you’re trying to lose weight, become more productive, create art on a more consistent basis, or otherwise build a new habit, you want to change human behavior too. Let’s take a look at what the grocery store did to drive additional purchases of candy bars and talk about how those concepts apply to your life. 1. Grocery stores removed the friction that prevented a certain behavior. They realized that people

were only buying candy in bulk around the holidays, so they cut down the size of the purchase and sold candy bars one at a time.

you’re more likely to give in and buy the candy bar at the checkout line because decision fatigue has set in. Of course, it’s not just decision fatigue that saps our willpower and motivation. There are a variety of positive and negative daily tasks that drain your brain. Periods of intense focus, frustration, selfcontrol, and confusion are all examples of how you can deplete your mental battery.

You can do the same thing with your habits. What are the points of friction that prevent you from taking a behavior right now? Does the task seem overwhelming? Like the equivalent of buying 40 pieces of candy when you only want one piece? Then start with a small habit. Examples include: doing 10 pushups per day rather than 50 per day, writing one post per week rather than one per day, running for five minutes rather than five miles, and so on. Starting small is valuable because objects in motion tend to stay in motion. 2. Grocery stores created an environment that promoted the new behavior. Retailers recognized

that unless the holidays were around the corner, people were unlikely to browse the store and seek out candy bars, so they moved the candy bars to a place where people didn’t have to seek them out: the checkout line. How can you change your environment, so that you don’t have to seek out your new habits? How can you adjust your kitchen so that you can eat healthy without thinking? How can you shift your workspace so that digital distractions are minimized? How can you create a space that promotes good behaviors and prevent bad ones? Surround yourself with better choices, and you’ll soon find yourself making better choices. 3. Grocery stores stacked the new behavior at a time when the energy was right for it. As

we’ve already covered, you’re more likely to give in and buy the candy bar at the checkout line because decision fatigue has set in. Of course, it’s not just decision fatigue that saps our willpower and motivation. There are a variety of positive and negative daily tasks that drain your brain. Periods of intense focus, frustration, self-control, and confusion are all examples of how you can deplete your mental battery. When it comes to building better habits, you can deal with this issue in two ways. Focus You can take active steps to reduce the areas that deplete your willpower. In the words of Kathy Sierra, you have to “manage your cognitive leaks.” This means eliminating distractions and focusing on the essential. It’s much easier to stick with good habits if you subtract the negative

influences. Self-control has a cost. Every time you use it, you pay. Make sure you’re paying for the things that matter to you, not the stuff that is useless or provides marginal value to your life. Timing You can perform your habit at a time when your energy is right for it. Stores ask you to buy candy bars when you are most likely to say yes. Similarly, you should ask yourself to perform new habits when you are mostly likely to succeed. Your motivation ebbs and flows throughout the day, so make sure the difficulty of your habit matches the current levelof your motivation. Big habits are usually best if attempted early in the day when your motivation and willpower are high (or after a lunch break when you’ve had a chance to eat and rejuvenate).

Your environment drives your habits We like to think that we are in control of our behavior. If we buy a candy bar, we assume it is because we wanted a candy bar. The truth, however, is that many of the actions we take each day are simply a response to the environment we find ourselves in. We buy candy bars because the store is designed to get us to buy candy bars. Similarly, we stick to good habits (or repeat bad habits) because the environments that we live in each day -our kitchens and bedrooms, our offices and workspaces are designed to promote these behaviors. Change your environment and your behavior will follow You can perform your habit a time when your energy is right for it. Stores ask you to buy candy bars when you are most likely to say yes. Similarly, you should ask yourself to perform new habits when you are mostly likely to succeed.

James Clear writes at JamesClear.com, where he uses behavior science to share ideas for mastering your habits, improving your health, and increasing your creativity. To get useful ideas on improving your mental and physical performance, join his free newsletter JamesClear.com/newsletter. To have James speak at your entrepreneurial event contact him jamesclear.com/contact. MARCH 2015 Entrepreneur

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The Esquire Guy on why ‘grabbing’ coffee has to go By Ross McCammon

e can’t stop grabbing things these days. We’re grabbing coffee. We’re grabbing lunch. We’re grabbing a quick drink. You’re grabbing me. I’m grabbing you. We’re grabbing each other. (That’s not my elbow.) The problem with grabbing is that it’s violent, opportunistic and noncommittal. It’s the buckshot of socializing professionally. To be clear: In business, there’s nothing inherently wrong with being violent, opportunistic and noncommittal. These are sometimes virtues. But rarely. Most of the time what you want to do is have, not grab. Take lunch, for instance. There’s a huge difference between having lunch and grabbing lunch. Having lunch involves a meaningful proposal to spend a little time with someone, to do something that encourages thoughtfulness and care. Grabbing lunch involves grabbing a table, grabbing some food, grabbing the check and getting the hell out of there as quickly as possible. In grabbing lunch, the grabbing is the point. It’s a box you check off. It undermines the purpose of meeting- which is to have a meaningful interaction with someone. The trick, of course, is knowing when to grab and when to have. WHAT GRABBING GETS YOU

The hardest part of the meeting is setting it up. Whether you’re grabbing or having, you’re still coordinating. And coordinat-

What if we grabbed other important events? Wanna grab a trip up Mount Everest? Let’s grab some surgery on my gallbladder, doctor. How about you and I grab a wedding next year?

Entrepreneur MARCH 2015

ing blows. So there you are: You’ve gone to all the trouble of deciding on a place and time, you’ve arrived, and the only thing you know you’re going to get out of it is a meeting that takes place as quickly as possible. What a weird way to engage in a relationship with someone. What a weird way to participate in an event. What if we grabbed other important events? Wanna grab a trip up Mount Everest? Let’s grab some surgery on my gallbladder, doctor. How about you and I grab a wedding next year? These are extremely important events. But so are meetings. Meetings deserve respect, too. Because out of meetings comes greatness (now and again). But not if you grab them. Rarely does something great came out of a grabbed meeting. A CONVERSATION

We grabbed an interview with Daniel Menaker, author of A Good Talk: The Story and Skill of Conversation, which is a fine book that everyone who cares about communication should read. You shouldn’t grab it. You should purchase it and spend time with it. Esquire Guy All this grabbing, Menaker! Daniel Menaker What’s most interesting is

that verbal formulation of the word grab. It sounds physical. There’s a kind of food business now called grab-and-go; you snap something up, pay for it (one hopes you

A TAXONOMY OF SOCIAL ENGAGEMENT Grab someone’s attention a restroom break the bull by the horns Take a hike (literally) a hike (metaphorically) some time to go over this whole “taking a hike” business

Have coffee / breakfast / lunch / dinner / a drink Share a moment / a dessert Delight in this glorious feast we call business

I think it’s part and parcel of a general culture of forced informality. I think often that kind of disguise is when it turns out it could be fairly serious or at least prolonged. I think there’s a general desire to be a social and conversational culture. Which is impossible to fulfill in a way. That’s where grabbing a cup of coffee comes from.

pay for it), and off you go. But there’s something actually a little aggressive about it. It makes me want to say, “Let go of my arm.” It’s like they come along with this burlap sack and they’re going to kidnap me. It also emphasizes the brevity, because “grab” is a very short thing; when you grab something, you do it quickly. So if you say, “I’d like to grab you for a quick cup of coffee,” you’re sort of tripling the promise of a short period of time- one cup of coffee, you’re grabbing and it’s going to be quick. One person is saying to another, “This is going to be a quick exchange; it’s not going to be formal; you don’t need to worry or prepare for it.” E.G. Listen, I’m late for a… D.M. Sometimes it’s camouflage for something fairly serious. I once had someone say to me, “Can you come downtown for a quick cup of coffee? I need to talk something over with you,” and what he wanted to do was tell me he was terminating my consulting position. I’d have preferred to not have gone downtown for that. E.G. Cool. So, uh, this has been great… D.M. I think there’s a kind of desire in America for informality that’s really characteristic of our whole culture. You find that not to be the case in Europe and Japan. E.G. Daniel, I’m…

D.M. I think it’s part and parcel of a general culture of forced informality. I think often that kind of disguise is when it turns out it could be fairly serious or at least prolonged. I think there’s a general desire to be a social and conversational culture. Which is impossible to fulfill in a way. That’s where grabbing a cup of coffee comes from. We all hope things will be easy breezy, so I’m going to use this locution, but in fact it may turn out to be neither easy nor breezy, and it might be prolonged. If someone says that to me, I simply don’t believe them. Partly because of myself. I know I can be verbose. I think we do have this culture of informality that isn’t quite what it would like to be, and we should admit it. E.G. Great. Gotta run! Note The interview did not go like that

at all. It was actually a meaningful and interesting discussion that we’ve edited in a grotesque way to show what actually happens when we “grab.” In our version, one person is grabbing and one person is having. Who would you rather meet with? The only promise of the grab is speed. It forces a meeting to be hurried and superficial. These are not virtues when it comes to human relationships. These are things you must avoid. We should try and have more. We should have dinner. We should have a drink or lunch or coffee or a meeting. We should have a conversation. Because the person you’re meeting with deserves it. So do you. And so does your work

See this article in its entirety at Entrepreneur.com

KEY TECHNICAL MATTERS The best way to grab a coffee with someone is to not grab a coffee with someone. Instead, you should have coffee with them. Grabbing is a violent, indiscreet act. Meetings should not include violence or indiscretion. Which sounds better: “Let’s grab lunch” or “Let’s have lunch”? The former is hurried and pushy. The latter is thoughtful and respectful. A request to grab a meeting implies an apology. It says: I am not all that worthy of your time, and you are

not all that worthy of my time. And why don’t we meet as two unworthy people for an absurdly short period of time and get hardly anything done, except for the meeting itself? Sound good? That’s what the grab gets you. It’s a weak request for a weak conversation made from a position of weakness. Instead: Have lunch! Meet! Talk! Spend some time together! Interface, if you must call it that! But stop grabbing. Also: Grabbing a coffee could cause severe burns.

MARCH 2015 Entrepreneur

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“How now

brown cow?” Coke decides to visit the milky way By Shoug Al-Nafisi

Hungry for more

Rocket Internet’s foodpanda makes a meal out of UAE’s 24h.ae

Dubai international boatshow website I fairlife website I rocket internet website

nline food delivery is on the up and up, and the MENA region is hot according to the mammoth foodpanda group- they’ve already established an influential presence in Jordan and KSA through their hellofood brands. After Rocket Internet acquired Kuwait’s Talabat.com (active across the GCC) for over US$170 million, they’ve opted for UAE’s 24h.ae, which has at least 700 restaurants as its partners, has a presence across seven UAE cities: Dubai, Abu Dhabi, Al Ain, Sharjah,

Ajman, Fujairah, and Ras al-Khaimah. Thus far, Rocket Internet has refused to disclose the amount of money that they shelled out to acquire the online food delivery platform. Having also acquired companies of competitors in European and Asian markets, the foodpanda group is visible in 40 markets in Africa, Latin America, Asia, Europe, and now the booming Middle East. Having taken a huge bite out of the global online food delivery market, we can only wait and see what their next move will be.

All hands on deck

DUBAI INTERNATIONAL BOAT SHOW

hether you’re looking for your next boat to purchase or to market to the GCC’s boating crowd, or you just want to contemplate hitting up blue waters, the Dubai International Boat Show (DIBS) might be the place for you. To be staged from March 3-7 at Dubai International Marine Club, Mina Seyahi, DIBS will present more than 430 yachts and leisure crafts from around the world, featuring interactive demonstrations for diving, sailing, fishing and watersport needs, talks and a networking

session, a motoring market and marine luxury lifestyle brands, all in tandem with daily competitions. Besides indulging the desires of watercraft owners, DIBS will also be addressing sectors that cross over with boating, including prestige services, diving, superyacht manufacturers and marine equipment suppliers. Together with Dive Middle East, DIBS is now in its seventh year, welcoming 26,000 MENA visitors in addition to international investors and enthusiasts from more than 120 countries. Ships ahoy! www.boatshowdubai.com

unctional foods have been on the rise now more than ever and almost everyone wants to jump on that bandwagon. One of the world’s biggest beverage moguls, Coke, officially launched offshoot brand Fairlife from a marriage of what’s-in and actually needing a lifeline. The company’s carbonated beverage sales have been dropping steadily, requiring the conglomerate to find other revenue streams to keep profit (and market share) afloat. Fluid milk sales have also been dropping over the past decade… and in comes Coke!

Following the model of its orange juice brand Simply, Coke decided to take on the milk industry and introduce a product believing it to be a stable investment. Fairlife claims to be a lactose-free product with 50% more protein, 30% more calcium, and 50% less sugar than regular milk. The premium milk however is to sell for a premium price that is more than twice that of regular milk. The debut of what might be the new “it” milk took place early this February, piggybacked with a massive awareness campaign looking to launch between late March and early April. If it sounds appealing at first glance, take a closer look: nutritionists have already been slamming the new product and with good reason. There really isn’t much of a problem related to below optimal protein intake. Add to that the fact that Fairlife’s removal of lactose actually involves its enzymatic breakdown into simple sugars– not so premium after all. And just like the story with protein, calcium is recommended from a variety of food sources. Aside from the irony of Coke launching a nutritionally sound product, will Fairlife really make a dent in the market? They think so, but we’re not convinced.

MARCH 2015 Entrepreneur

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Round 10 Boxing Club

Rolling with the punches Round 10 Boxing Club Founders and boxing enthusiasts Abdulla Khoory and Ahmed Seddiqi By Aby Sam Thomas

s far as origin stories go, the tale that Round 10 Boxing Club co-founders Abdulla Khoory and Ahmed Seddiqi profess about the start of their enterprise is one that is rather believable, and perhaps more importantly, one that should be quite relatable to all you entrepreneurs-inthe-making out there. The two UAE nationals, who also happen to be first cousins, were at a Formula 1 event at Abu Dhabi in 2012, during which they lamented about not having a similarscaled platform for a sport they were particularly passionate about: boxing.

Entrepreneur MARCH 2015

“We were watching the race,” Khoory recalls, “and Ahmed mentioned to me that he’d love to see the sport of boxing in the UAE to one day be at a level as that of Formula 1 and all the other sports that are being heavily supported by the country, [as] unfortunately, we don’t hear much about boxing here… And while we were talking, we began wondering: why don’t we start something, and try [by ourselves] to promote boxing in the UAE?” It may have been just an idea at the time- but this moment marked the genesis of Round 10 Boxing Club. Following that night, the two men

continued to discuss and debate the idea, with each of them conducting their own research into the viability a boxing-focused gym in the UAE. Having said that, they weren’t expecting their potential business to be a quick money-generator either- as long as it was an enterprise that could sustain itself while also having the potential to grow in the future, then Khoory and Seddiqi were willing to invest their time, effort and money in the same. With that idea in mind, the two went about making their dream a reality. But the way ahead had its own share of hurdles. “We were taking a big risk opening a specialized gym for only boxing, because we didn’t exactly know if there was a market for it,” Seddiqi remembers. “That was one of the biggest risks that we took- but we just took it, you know… Business is, after all, all about taking risks.” The two then found a warehouse in Dubai’s Al Quoz neighborhood that they thought could be converted into the gym they envisioned- but again, it

“we are looking at it as a good business, where we could really expand, because we not only focus on the needs of professional fighters and amateur fighters, but also on fitness and helping people losing weight. So we are planning to expand- we know that there is a big potential for it. No one has our concept until now. We are planning to expand locally, and once we see it going well, maybe internationally [as well].” was easier said than done. According to the co-founders, the biggest issue in this regard was getting all of the necessary municipality approvals in place for their gym. “People would [probably] think that we are UAE nationals and so, the process would be easier- but it was not,” Khoory laughs. “I keep telling people it was not.” The problem, he explains, was that they couldn’t get their contractor to start the fit-out for the gym without getting the building permit from the municipality. But in order to get this permit, one needs to have a tenancy contract for the space in place first. “So, you cannot start approaching the municipality for an approval until you have signed the tenancy contract,” Khoory explains. “This means that you actually start your expenses before you get your approvals.” In Round 10’s case, it took a long while to get

Round 10 Boxing Club, boxing workout first floor

these approvals because it was located in a warehouse- in fact, Khoory says that it took them nearly a year to get past this particular challenge. “The first year was gone almost completely for this,” he says. “We had to pay the whole year of rent, and we couldn’t open because of these approvals.” But the cousins remained resolute in their ambition to open a gym, and finally, in September 2013, after winning all the necessary approvals, Round 10 Boxing Club opened its doors to the public. While Seddiqi and Khoory had used their own money to fund the enterprise, they left no stone unturned in ensuring that their gym was fitted with the best quality equipment and products. Being boxers themselves, this attention to detail

was a particularly important factor for them to have in the gym- and their clients have appreciated them for it as well. “The response has been very good,” Seddiqi says. “It was slow in the beginning, but once people got to know of the place –thanks mainly to wordof-mouth recommendations- slowly, the footfall increased.” The fact that Round 10 was solely focused on boxing also helped. “When we did our research, we found that there were some gyms [in Dubai] that offer boxing classes,” Khoory explains. “But all of these gyms are not really focused on boxing. They offer many other workouts like kickboxing, jujitsu, etc. and boxing is just a small section.” “So boxing enthusiasts aren’t given the attention they need, or they feel that they are not getting the right attention,” he continues. “That was why one of the decisions we made about our gym focusing only on the sport of boxing, because we really want to give the right information, the right training, of the highest quality to our customers.” This also explains why the duo have imported handmade boxing products by Cleto Reyes –a brand that’s considered to be the best in the industry- all the way from Mexico to be used at the gym. Round 10’s focus on quality is also reflected in the trainers they have hired at the gym- its roster of coaches includes Morovan Viorel, a Romanian boxer who had earlier been recruited by the UAE Boxing Federation to introduce the sport to the country. >>> MARCH 2015 Entrepreneur

CULTURE

business unusual | LIFE | TRAVEL | DESIGN | TRAPPINGS

“We were taking a big risk opening a specialized gym for only boxing, because we didn’t exactly know if there was a market for it [,,,] That was one of the biggest risks that we took- but we just took it, you know… Business is, after all, all about taking risks.” With features like these to boast of, it shouldn’t then come as a surprise that Round 10, which celebrated its first anniversary last year, now has a dedicated fan following, with the co-founders keen on building on their success and setting up branches of the gym in the UAE’s other emirates soon. “Our initial goal [with Round 10] was to build a home for boxers,” Seddiqi says. “But now, we are looking at it as a good business, where we could really expand, because we not only focus on the needs of professional fighters and amateur fighters, but also on fitness and helping people losing weight. So we are planning to expand- we know that there is a big potential for it. No one has our concept until now. We are planning to expand locally, and once we see it going well, maybe internationally [as well].” Another of the ideas they have for Round 10’s further growth is to partner

with government entities like the police, military, civil defense, etc. and provide their resources with fitness training through the sport of boxing. Khoory and Seddiqi had earlier approached Dubai SME to help them with this initiative, but it didn’t really pan out. Having said that, they haven’t let go of this dream either- the duo have now tied up with Tejar Dubai, and they are hoping that this new alliance will help them develop and grow this plan of theirs.

But while expansion is on the agenda, both Seddiqi and Khoory continue to remain keen on building up boxing’s appeal in the UAE. “Our main objective –the idea we started with- was to look for people in the UAE to support, to train people that really have the passion and dedication to reach great heights in the sport of boxing,” Khoory says. “We’d like somebody to come and tell us that I want to represent my country in the future, and for sure, we’ll do everything we can to support them.”

‘Trep talk

Abdulla Khoory & Ahmed Seddiqi

On being cousins and business partners AK “As long as there is an understanding [between partners] -whether you are a cousin, a casual relation, a friend or you simply don’t know each otheras long as there is an understanding with each other and a very clear vision, then I don’t think any business should suffer. These two things are very important- an understanding between the partners, and a clear vision where the company should be heading to. Then there shouldn’t be any problem.” AS “It’s been really great, because we have split the responsibility a 100%. And whenever I need help, he helps me; whenever he needs help, I help him too. So we have split the work- each one does his thing, so no conflict arises. And we had decided on this before even opening the gym- you can’t have two captains in one boat.”

Entrepreneur MARCH 2015

MARCH 2015 Entrepreneur

IN PICTURES Switzerland-based Flyability

Remote control Drones for Good gives UAVs a reputation overhaul

nmanned Aerial Vehicles (UAVs), mostly known for military operations, have a bad rep and Drones for Good aims to change that. Launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai during the 2014 Government Summit, the UAE Drones for Good Award seeks to highlight the use of drones to improve (and even save) lives. Teams demonstrated projects at a two-day event at Dubai Internet City for a panel of international judges. Receiving

more than 800 entries from 57 countries, relief services proved the most popular, followed by the categories of civil defense services, economic development and environmental concerns. Beating out five finalists from the original 39 semi-finalists, the Switzerland-based Flyability won the US$1 million grant in the international category. Inspired by insects, the collisionresistant Gimball drone can fit into tight spaces and safely fly close to potential survivors in rescue missions, protected by a rotating outer frame. Winning the government category, Etisalat’s Network Drone can fly

to areas with low signal strength (such as deserted areas and mountains), and increase reception. NYU Abu Dhabi’s team took home an AED1 million prize for their Wadi Drone that uses software relating to animal and environmental conservation- it collects data without the risk of damaging the natural habitat. www.dronesforgood.ae

Above: H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai with Drones for Good Award winning team Flyability Below: Etisalat’s Network Drone can fly to areas with low signal strength and enhance it.

Drones for Good DRONLIFE Developed to transport organ transplants to hospitals HENRI Waterproof drone used for mapping the coral reef and coastal zones SANAD Controlled via iPad, the octa-copter drone can be used for rescue missions such as lifting people to safety 1 BILLION TREES Increase plant rates while decreasing the cost by planting 300 seeds in less than 50 minutes MARCH 2015 Entrepreneur

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Name game Asamies.com co-founder Ahmad Abdelraziq talks premium MENA-friendly domains By Kareem Chehayeb

“

ince day one, we were driven by making a significant contribution to the MENA market,” says asamies.com co-founder and Managing Director Ahmad Abdelraziq. The 31-year-old says that he was driven by issues and gaps in the regional market to create web domain market, asamies.com, after seeing all sorts of problems in the market related to web domains. First and foremost on that list? How difficult it is to find a good online name, “especially when they want a .com online presence,” noting the countless poor name choices they’ve seen small and large businesses alike settle for. Coming from a family of entrepreneurs, UAE-based Abdelraziq also echoes another pervasive MENA-region digital topic: “The Arabic language

“Asamies.com is simply an online marketplace for brandable names, made available with creative logos, and the premium domain extension .com and the first borderless Arabic domain extension .Shabaka, at affordable prices.” 84

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is underrepresented when it’s the native language in this part of the world and is highly used on the internet, yet, the Arabic content on the web is about 1% worldwide.” “asamies.com is simply an online marketplace for brandable names, made available with creative logos, and the premium domain extension .com and the first borderless Arabic domain extension .Shabaka, at affordable prices,” explains Abdelraziq. I was quite intrigued by the idea of the .Shabaka domain While it may take time for it to become something customary among businesses in the region, I felt rather encouraged when Abdelraziq mentioned that UAE-based multinational telecommunications service providers, Etisalat, was an early adopter of this neat domain ( ). Setting up asamies.com was definitely not a simple feat, but Abdelraziq notes having fellow co-founder Aamir Shaikh, who is also asamies.com’s Creative Designer, alleviated a ton of the work. One challenge? Human capital- the duo do admit struggling to find the right personnel that they thought would make the best team to launch

They wanted to bring in another creative aspect of the business into asamies.com, and they rightfully pointed out that having only names would make the online market look like a “stock trading platform.” External designers were called up to design Asamies. com’s logos, and the co-founders hope that having graphics alongside their list of names will help businesses alleviate some costs, in addition to adding a good aesthetic element to the portal.

their portal. Financially speaking, the co-founders decided to bootstrap, having come to the agreement that starting with limited capital is a safer and more logical decision for their startup. Shaikh and Abdelraziq don’t have any angel investors on board for asamies.com either, and apparently they’re not considering looking into cash injections anytime in the near future. In his opinion, it’s all too easy to “get mesmerized by so much cash on hand initially, and burning it quickly and get distracted from the main objective as a company at a startup stage.” Abdelraziq’s decision is also backed by the fact that his company isn’t capital intensive at all, for two main reasons: both co-founders have the necessary experience and skills required to get the business up and running, and the business being an online one automatically means there are much less costs at the outset, in contrast to a physical product.

IMAGES COURTESY ASAMIES.COM

Visiting asamies.com, you’ll notice that searching through some of the available business names is visual-friendly, since each business name comes with a logo. They wanted to bring in another creative aspect of the business into asamies. com, and they rightfully pointed out that having only names would make the online market look like a “stock trading platform.” External designers were called up to design asamies.com’s logos, and the co-founders hope that having graphics alongside their list of names will help businesses alleviate some costs, in addition to adding a good aesthetic element to the portal. In terms of other marketing tactics, their bootstrapping dictates a “less is more” approach and a few growth hacking techniques. In short, the tools they plan on utilizing include blogging, social media, digital marketing, public relations, and referral programs.

their bootstrapping dictates a “less is more” approach and a few growth hacking techniques. In short, the tools they plan on utilizing include blogging, social media, digital marketing, public relations, and referral programs.

“Our blogging goal is to educate consumers mainly about quality, branding and business naming,” says Abdelraziq, adding that an active blog would also mean better SEO, better web traffic, and a more engaged target audience. Despite being in its early stages, how has asamies.com been received thus far? So far so good, according to the co-founder, and it seems that they’re getting some attention and decent media coverage. They also were “qualified to the Entrepreneur Day pitch competition organized by DSOA [Dubai Silicon Oasis Authority] in November 2014.”

Setting up asamies.com was definitely not a simple feat, but Abdelraziq notes having fellow co-founder Aamir Shaikh, who is also asamies. com’s Creative Designer, alleviated a ton of the work. One challenge? Human capital- the duo do admit struggling to find the right personnel that they thought would make the best team to launch their portal.

Co-founders Aamir Shaikh and Ahmad Abdelraziq

MARCH 2015 Entrepreneur

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In a hot minute (or five)

White joins the ultimate MENA e-commerce solution race By Kareem Chehayeb

he MENA e-commerce industry has been substantially growing over the past year, but there is still no single payments platform that has emerged as a leading choice for businesses in the region. 27 year-old Bahraini computer engineer and White co-founder Yazin Al-Irhayim didn’t

“the trickiest part about building White was forging the relationships with the banks.” Before sorting everything out with the banks, he was able to build a prototype website to test payments. “We also had a landing page up for a while that collected hundreds of email addresses.”

hold back from venting about all the problems with the available online payment platforms. “I happen to be allergic to paperwork” only scratches the surface. So what sets White apart from its e-commerce competition? “Simple: we’re instant,” boasts the founder. “We get you integrated and processing cards on your own site in under five minutes.” He mentions that most competitors take at least a month before the integration process is completed. Before working with White fulltime, Al-Irhayim worked at GE for five years, starting as a Field Engineer and eventually becoming Global Finance Leader. He then packed his bags and focused on his startup, explaining that he was “too young to have a stable job this early in my life.” So what inspired someone who has been

involved in computer engineering and programming since his childhood? “One of the greatest pleasures I experience is when someone actually buys a product that I built,” Al-Irhayim explains. “Unfortunately, driving over to their place to collect the money is a killjoy.” Just like many customers and entrepreneurs in the Middle East, the outdated and inefficient Cash on Delivery (COD) payment method ticked him off. But unlike a few others who’ve said that the lack of credit cards is the foundational cause of a weak e-commerce industry in the region, White’s co-founder says otherwise- he claims it’s the lack of businesses that offer online payment options. “If four of your five favorite local stores accepted online payments, then you’re going to start ordering online,” explains Al-Irhayim. “If you don’t have a card, you’ll get one.” Setting up White was a bit of a bumpy ride. The technical side was easy, given Al-Irhayim’s expertise, but “the trickiest part about building White was forging the relationships with the banks.” Before sorting everything out with the banks, he was able to build a prototype website to test payments. “We also had a landing page up for a while that collected hundreds of email addresses,” says AlIrhayim, adding that they had about 800 emails at the time. Unlike most other online enterprises, White was quite capital-intensive, but that was a consequence of being part of the e-commerce industry. Why? “Banks take a lot of your money as security collateral.” That said, there were no angel investors involved, but there was some intense bootstrapping going on. Al-Irhayim splashed US$50,000, and raised $100,000 from his friends and family. Let’s talk marketing. This is where I found things rather interesting

“White’s founder decided to throw another curveball, saying that neither Facebook nor Twitter has made much of an impact, and that they’ve decided to go for a more unconventional approach. “Controversial things include tweeting at our competitors, and taking a jab at them every once in a while.” 86

Entrepreneur MARCH 2015

“Banks take a lot of your money as security collateral.” That said, there were no angel investors involved, but there was some intense bootstrapping going on. Al-Irhayim splashed US$50,000, and raised $100,000 from his friends and family. with White. Al-Irhayim says that in “a region where word-of-mouth can make or break a business”, it’s important to make sure your existing customers are satisfied. That is exactly how he decided to handle marketing, which some might consider unorthodox. But how does that strategy (or lack thereof) pan out on social media platforms? White’s founder decided to throw another curveball, saying that neither Facebook nor Twitter has made much of an impact, and that they’ve decided to go for a more unconventional approach. “Controversial things include tweeting at our competitors, and taking a jab at them every once in a while.” Competitors, brace yourselves. That said, it’s also worth mentioning that White have put up a blog on their website, something that many other businesses are doing, which is very strategic when it comes to improving your data analytics and creating buzz- it is just good PR. At this point in time, White is still in its beta stage. But that doesn’t mean it isn’t getting any buzz. “We’re at almost a thousand signups,” claims White’s founder, who also mentions that most of their user-base consists of startups alongside “quite a few individuals.” >>>

white website beta version

Below, left to right: White co-founders Yazin Al-Irhayim and Pavel Gabriel

MARCH 2015 Entrepreneur

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White recently put in recurring billing, meaning they can store “cardholder data and charge at a later date”, and are now working on features that support market places, with Al-Irhayim mentioning Uber and Airbnb as examples. What about regional expansion? If you’re in the GCC, expect White to make an appearance sooner or later, as the founder confirmed that they will expand beyond Bahrain and the UAE. That said, White’s mastermind has a greater vision, hoping to bring the payment solution to developing countries, “where there’s a need for such a solution.” When asked about which country in the region he thinks nurtures the best entrepreneurial ecosystem, White’s founder chose to only compare the two countries he’s familiar with: Bahrain and the UAE. “It’s pretty clear that the UAE has a much more developed ecosystem than Bahrain does, but Bahrain is getting there.”

If you’re in the GCC, expect White to make an appearance sooner or later, as the founder confirmed that they will expand beyond Bahrain and the UAE. That said, White’s mastermind has a greater vision, hoping to bring the payment solution to developing countries, “where there’s a need for such a solution.” White isn’t planning on releasing an app, but they are in cahoots with other companies: “We won’t launch an app of our own any time soon, but we power mobile apps of all sorts,” says Alirhayim, adding that the payment process wouldn’t redirect users off the browser like other platforms. So will White be all right? It definitely looks like it’ll stand out in the e-commerce crowd, but it is too early to tell given that they’re still at the beta stage. One thing’s for sure though: Al-Irhayim focus on watering things down to make them as simple, smooth, and safe as possible could be a key selling-point for White in the ever-evolving payment solutions race

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THE RACE TO ANNIHILATE COD MENA E-COMMERCE OVERVIEW PayPal MENA Regional Director Laurent Wakim

PayPal MENA www.paypal-mena.com PayPal and its popular digital wallet is making headway across the Middle East, and the folks at PayPal MENA have been keeping an eye out on growing e-commerce markets, particulary in the UAE, Qatar, and Saudi Arabia. With PayPal being popular internationally, and PayPal MENA palling up with Qatar National Bank and Aramex, we can safely assume that consumers in the GCC will be setting up their digital wallets very soon. Watch for the continued rise of m-commerce in the Middle East- PayPal MENA is on the ball there as well. PayPal put out their own one-touch payment system in August 2013.

Telr CEO and co-founder Elias Ghanem

Telr www.telr.com Telr’s vision goes beyond MENA. Co-founder Elias Ghanem, who has work experience with PayPal MENA, PayPal South East Asia and India, and Visa Inc, has established a Telr hub in Singapore, in addition to one in Dubai. The end goal? An efficient payment gateway that is not only multi-lingual but also multi-currency, all while sustaining good cash flow. Ghanem’s ideal alternative to COD transcends borders, hence including South East Asia and certain emerging markets in Africa are in Telr’s scope. Telr has a lot on their plate, but Ghanem and co. are confident that they’ll make a positive impact. The company recently announced Series A funding from iMENA and Hatcher, investing from the Middle East and Singapore.

PayFort Managing Director Omar Soudodi

PayFort www.payfort.com PayFort is optimistic that their payment solution will sweep the Middle East, given the fact they take into consideration the lack of credit card ownership in various markets, notably high-populace Egypt. Options like PAYatHOME and PAYatSTORE hope to allow merchants to expand its consumer-base by selling online without a credit card. PayFort hopes to make this happen using alternatives, notably vouchers that are sent via e-mail or SMS. The online payment platform’s focus on the region means that their payment solutions will benefit different markets of the region, whether we’re talking about Cairo or Dubai. Credit card ownership regionally isn’t high as yet, so we predict that PayFort’s services will also be successful outside the GCC.

Paytabs CEO Abdulaziz Aljouf

PayTabs www.paytabs.com Funded by Saudi Aramco’s Wa’ed program, PayTabs has also entered the race for the region’s ultimate online payments solution. While founder Abdulaziz Aljouf boasts about their eCommerce API, a plugin that can easily be integrated on any website, there’s more to PayTabs than that. A second feature: PayPage caters to merchants who set up shop on their social media pages; Facebook, Instagram, Pinterest, and Flickr included.

MARCH 2015 Entrepreneur

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Sahar Wahbeh pitching her business to the judges at The Venture Gulf finals

Dumyé is a means to an end Social entrepreneur Sahar Wahbeh advances to The Venture global finals

“

By Pamella de Leon

believe through design, we have the power to shape our world for the better.” That was Dumyé founder Sahar Wahbeh’s pitch at the Gulf finals of The Venture, a global competition seeking the most promising social entrepreneurs around the world for a chance to win a share of a US$1 million fund. It’s a compassionate statement, and after beating out numerous applications, rising along with the top five finalists, what made Dumyé stand out in the sea of social ventures? To begin with, the inspiration for the startup is one of the most heartwarming aspects of Dumyé: her daughter. After searching for a doll to give as a gift to her daughter, Wahbeh, disappointed by the ones she found in the market, decided to create her own. This wasn’t

Entrepreneur MARCH 2015

enough for Wahbeh to “shift careers” though, until she realized that this could be her way to not only share her life values with her daughter, but also “actually live it.” Wahbeh wanted her daughter to respect the environment, so the dolls are “made with a mixture of organic, sustainable and mostly natural materials,” says Wahbeh. “I need her to have compassion [for others], which is why we commission an NGO [called START founded by Virendra Singh] in one of the poorest states of India to handle elements of our production.” This approach empowers women in their community to be self-sufficient, as well as use their proceeds to educate the next generation. Wahbeh also wanted to inspire generosity in her daughter, and so, every doll that Dumyé sells results

in another doll gifted to an orphan. Now, while it may have started out as a lesson for her daughter, Dumyé is now an enterprise that has a presence in more than 15 countries. Wahbeh, who comes from a branding consultancy background, finds her experience “indispensible,” explaining how Dumyé began as a brand that is “growing into a business.” After realizing she needed to work on being more patient and overcome

Dumyé founder Sahar Wahbeh

self-doubt, Wahbeh’s remedy was to surround herself with people who “understood the path I was and still am on with Dumyé. From day one, Dumyé knew exactly what its purpose was and everything we have done since has been to both communicate and actualize just that.” After launching their online boutique in June 2013, along with pop-up shops in Middle East and through select retailers around the world, Dumyé is now designing its fourth collection, with each doll inspired by “ideals, fashion and things our customers continually ask for.” They’ve come a long way from their first collection that had a quickly sold out doll named She-roe: “I think she captured people’s hearts because she was both feminine and powerful. This is the kind of role model our girls need, which is why we’re re-launching her in a new edition.” In terms of progress, Dumyé had also been asked about dolls geared towards boys and Wahbeh happily states that the new collection includes two male dolls. After working with children in the Middle East and India, Dumyé is now also exploring its options to expand its “giving program” to Africa. The dolls are also kid-tested and certified by the CPSA –the regulatory body for children’s product safety in U.S.which ensures that their textiles come with certification and ingredient labels to show that the materials used in making them are environmentfriendly. For their marketing strategy, word of mouth, social media and pop-up stores has been their go-to methods of choice. Wahbeh notes how The Venture Gulf panel of judges

Dumyé dolls

social media has been one of their best tools to engage with customers and receive feedback, adding that Instagram and Facebook are their most powerful channels among their social media accounts, and they encourage customers to share their dolls with the #MyDumye hashtag. In a research by Endeavor Insight studying 20 social entrepreneurs (Harvard Business Review), they found that those who prioritized financial growth above social goals were “more likely” to grow their social business and have greater impact. What differentiates social ventures from social causes and non-profit organizations is their ability to have sustainable working business models and maintain self-sufficiency- a trait that the judges were looking for among the finalists. With Dumyé’s strong value for social impact, when

asked about their business model, Wahbeh says, “In a nutshell, we sell eco-friendly cloth dolls and for each one purchased, we gift a doll to an orphan, allowing them to make it their own through an art workshop that Dumyé facilitates.” Wahbeh explains how Dumyé sells dolls in two sizes: a full-size limited edition personalized doll and a smaller Petite Dumyé. Regarding their model for return on investment, Wahbeh admits that they’re a startup that’s not in profit generation stage- yet. Dumyé is currently in the process of “looking at various avenues for funding.” With an “overwhelmingly positive” experience from The Venture, after hearing the judges’ critiques, Wahbeh feels “excited and humbled [with] the opportunity” and confident during the pitch, but thinks she should have “further highlighted the economic empowerment aspect of Dumyé.” But it’s only just the beginning: joining 16 other social enterprises from different parts of the world, Dumyé will be in a week-long training at Silicon Valley and later pitch to a panel in San Francisco for a chance at winning a portion of the US$1 million funding. “The judges have kindly offered to mentor me between now and then,” says Wahbeh. “We’re working together to strengthen Dumyé’s pitch so that when I hit the stage in San Francisco, I represent the region with oomph.” Wahbeh is dedicating 2015 to expansion- with their production capabilities, product line and market penetration in the U.S., and the Middle East specifically, as well as the core Dumyé team. MARCH 2015 Entrepreneur

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Dumyé doll designed by a child during a giving program

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STARTING CAPITAL US$8000 from a small

design project MARKET PENETRATION Dumyé dolls have sold in more than 15 countries, with customers in the Middle East, U.S., U.K. and Australia. Customers are social and environment-conscious women, ranging from CEOs to fashion editors to stay-athome moms. PROCESS “Once the idea for all the dolls in a collection have been sketched out with paper and pencil, we begin shopping for textiles, cutting patterns for the clothing and creating samples. Once all that’s done, it’s handed over to a local craftswoman to recreate in numbers.” The next step would be “designing features that would become signature of a Dumyé doll, such as the embroidered rose bud mouth and almond-shaped eyes.”

Dumyé at The Venture PREPARATION “Much of my time was spent in developing the presentation itself. It was a great exercise in organizing everything that Dumyé stands for and has achieved from its inception.” FEEDBACK “Well, Yogi [Petrochem Middle East Managing Director, Yogesh Mehta] said he would invest a US$1 million dollars into Dumyé’ today- I certainly wasn’t expecting that!” PITCHING “Everyone here is looking at your business through their lens of expertise. What I really appreciate is not only [am I] benefitting from their knowledge, but receiving their visceral reaction to my business, I found that incredibly valuable.”

The verdict Why did The Venture judges choose Dumyé? Soushiant Zanganehpour

into a regional or global champion for ‘Winning the Right Way.’ The future looks bright for her.”

David Freeborn

Yogesh Mehta Managing Director, Petrochem Middle East

Soushiant Zanganehpour Consultant, Skoll Centre for Social Entrepreneurship

“The candidates in the Gulf finals were all quite strong in their own right, but what made Dumyé stand out was its growth trajectory and potential social impact, and the opportunity for The Venture to really add value to accelerate its journey, relative to the other candidates. In Dumyé, we saw the prospects of both a strong commercially successful and scalable business, alongside a sustainable engine for ensuring upward mobility for disadvantaged orphans globally. Not only does the business ethos and narrative strongly reflect the values of Sahar, we felt she was sufficiently open to adjusting her assumptions and changing aspects of her model to further optimize and strengthen the potential social impact of the business. This was critical because the structure of support surrounding The Venture are meant to do just this and intervene to add value, to hopefully accelerate Dumyé’s chances of going from a budding small business

Entrepreneur MARCH 2015

“To me, Sahar’s project Dumyé met all the criteria for a business and an innovative idea that has a social enterprise fabric. She did a great presentation and also was honest to accept that she needed a strong finance person in her team to make her case more robust for the finals in San Francisco. She is a winner in all respects!” Yogesh Mehta

David Freeborn Managing Director, Pernod Ricard Gulf

“Dumyé stood out as a strong, robust business enterprise with a social purpose at its core which therefore recorded high scores across all the judging criteria. However, the additional attraction was Sahar’s enthusiasm, commitment, honesty and energy that shone through during her pitch. Whilst there is work to be done on the

package, Sahar will be a great representative from the Gulf for The Venture in San Francisco this summer.” Fida Chaaban Editor in Chief, Entrepreneur Middle East

“I felt that Sahar was the best-positioned GCC candidate for The Venture global finals because she really knows how to package her message, and her business model is an easily understood social enterprise with a lot of marketing potential. Marketing potential translates into widespread press coverage, and that means easy onboarding of new clients and tons of business development opportunities which can lead to bigger and better things for Dumyé.” Fida Chaaban

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Adopting the lean startup approach Social entrepreneurs solving emerging market development problems can improve their success-rate by trimming down By Serguei Netessine

ost startups fail to take off. The traditional method of starting a business has been to come up with a business plan, get investors to back it, assemble your dream team, get a product in play and push it hard. But this approach often exposes entrepreneurs to risks that blindside them later. The same could be said of the big ideas often touted to help the poor in emerging markets, either with access to cleaner water and sanitation or education. Take PlayPump, a children’s carousel designed to help pump clean water in

Africa. Despite getting US$16 million in funding, it failed to gain traction. Three out of every four development projects in Africa fail. They are managed with a fixed plan in mind, as if they were always big infrastructure projects with fixed components and measured outcomes. But there could be an alternative approach. Lean growth A new way to look at solving complex development problems could be the lean startup method, which favors hypothesisbased experimentation, iterative product

releases and customer feedback over a big plan upfront with lots of intuition and conventional wisdom. The main pillars are better known as prototyping, experimenting and pivoting. Take the market for kerosene as a good place to start with lean startup thinking. Two billion people around the world don’t have access to electricity, but the poor around the world spend around US$37 billion a year on kerosene or other lowquality energy solutions for lighting. But kerosene is both expensive and a serious fire and health hazard. More people die from indoor pollution than malaria because of it. Solar solutions require big onetime investments that are out of the reach of people living on $1-2 a day. We have been working with Nuru Energy, a for-profit social enterprise in Rwanda that is dedicated to replacing the use of expensive, unhealthy and dangerous kerosene as a source of lighting. Nuru Energy offers ultraaffordable and portable LED solutions through a micro-payment business model. Its product has become the most popular off-grid lighting product in the country. Light at the end of the tunnel Nuru did a lot of experimentation and pivoting to make a solid product. The solution consists of a small portable unbreakable battery-powered LED light about the size of a hockey puck and a recharging technology called the POWERCycle generator, which is a stationary bicycle. Right off the bat, an AC-charging station was scrapped because most of the population didn’t have access to grid electricity. A solar panel solution was tried but it was expensive and the charging cycle was too long. They even tried a hand-charging device but it required a lot of physical effort to use. After trying all of these things, the POWERCycle was proposed and successfully tested. And the experimenting didn’t end there. The product was complete, but how were they going to sell it to the rural poor? A financing solution was needed. When takeup rates turned out to be lower than expected, Nuru dropped the

Entrepreneur MARCH 2015

upfront price of the lamp below cost and aimed to make up the margin loss in recharge revenues. They also had to grapple with payment collection costs. Experiments were required. Nuru initially partnered with microfinance institutions to select and finance entrepreneurs who would help with selling, but several experiments had to be carried out to get the incentives and trade-offs between take up and margin. Payment collection was expensive so Nuru came up with an SMS technology that could remotely unlock the POWERCycle.

NURU WEBSITE | PLAYPUMPS WEBSITE

Reaching higher We are now launching a pilot to explore ways to reduce consumer inconvenience costs and encourage usage of the lights. We have received grants from the International Growth Centre and INSEAD to experiment with different revenue models, as well as giving households a subsidy to purchase additional lights. We also plan to understand usage of Nuru lights with electronic tracking. The bottom of the pyramid is not an easy place to do business, but applying cookie-cutter business models isnâ&#x20AC;&#x2122;t the answer. It is impossible to understand what works and what does not without experimentation and pivoting. Rather than huge projects with big funding and standardized approaches, we think development and funding agencies could better allocate money to small-scale experiments and studying the results to make the most out of the limited funding available

Serguei Netessine is a Professor of Technology and Operations Management at INSEAD. He is also The Timken Chaired Professor of Global Technology and Innovation and Research Director of the INSEAD-Wharton Alliance. He is a co-author of the book The Risk-Driven Business Model: Four Questions that Will Define Your Company (Harvard Business Press, 2014). Talk to him on Twitter @SNetesin. MARCH 2015 Entrepreneur

money

ask the money guy | vc viewpoint | your money | ECON

Swaying a VC in your favor talent, implement operational improvements, adopt corporate governance practices and raise further growth capital. When looking for potential businesses to invest in, here are the five things BECO Capital looks for in a startup:

needs to be significantly better than what is already out there. Incremental improvements do not suffice. This is much more difficult to demonstrate in the aggregate. If there is a cost saving or gains in reach and efficiency, these are usually easier to quantify than value propositions. Things like measurability and convenience are more difficult to quantify, and we normally suggest that the business at the very least describes the process improvements that lead to measurability and convenience improvements and, where possible, “price” these improvements into the total transformation gains that the new solution provides.

1. Does it qualify as a transformational solution?

2. Is there a sizeable addressable market?

Five questions that can make or break the deal By Dany Farha

ECO Capital has been associated with some of the most successful technology venture capital (VC) transactions in the region. The firm is a hands-on partner that assists its portfolio companies through growth finance and operational support. Its team brings a rich and diverse experience in venture capital, technology, entrepreneurship and finance, triggering value creation across all the business and operational functions of portfolio companies. This includes helping them to expand to new markets across the GCC, acquire key

BECO Capital looks to invest in businesses that leverage technology to transform an industry. The business needs to demonstrate that the solution it is offering is transformational, and it

BECO Capital is a VC investor, and as such, the firm needs to generate venture returns. In order to do this, the team needs the companies it invests in to be able to achieve a minimum quantum of revenues and therefore market cap. Ideally, we would like to invest in companies that can at the very least generate net revenues of US$20 million. In order to achieve this minimum scale, “market sizing” is a very important exercise. The firm does not like top down market sizing- for example the total spend in the F&B sector is $2 billion and if we capture 5% of this spend, this equates to $100 million in revenues. We’re looking for a bottom up market sizing (also called “counting noses”). We are not talking about “market uptake” here. It’s our job as investors to assess this risk and mitigate them as best we can. The greatest returns are generated by venture investors when market uptake adoption is unknown.

The firm looks for entrepreneurs who have built a working solution or prototype that has generated traction -be it in the form of traffic, engagement, revenues, customers, etc.- with little to no marketing spend. The company does not like entering at the earliest stages where a product has yet to be built or tested due to the risks attached. It’s preferable that when the entrepreneur is able to demonstrate “product market fit,” and an understanding of the unit economics of their business model: what is the cost to acquire a customer (CAC), customer lifetime value (CLV) and its profitability. The strongest entrepreneurs 96

Entrepreneur MARCH 2015

beco website

3. Has it demonstrated natural traction?

understand this and have it figured out early on and continue to mine their data to refine these KPIs. 4. Is there a strong founding team?

Great companies are built by great people. For BECO Capital to invest, we require a strong founder with an experienced management team that have deep domain expertise. Typically, the ideal founding team consists of one visionary to imagine the future and the product roadmap, another to build the product, and another to “take the market.” Execution skills are crucial to building great businesses and for the less experienced entrepreneurs, this ingredient is much more challenging for us to assess. Second-time entrepreneurs are our favorite type as this again goes a long way to mitigate execution risk. Data collection and mining in order to continuously measure user and merchant activity are also essential skills that founders and management teams need to have and continuously develop. 5. Does it show network effects?

Businesses that display network effects are what BECO Capital looks at. Marketplaces exhibit this characteristic very well. What’s the ideal model? Having a business that creates a positive feedback loop that spirals constantly. The larger the marketplace, the more valuable it is to all its stakeholders

Dany Farha is the co-founder and CEO at BECO Capital, a venture capital firm that provides early stage growth capital and hands-on operational support for technology companies in the MENA region with a focus on the GCC. Farha has a 20-year track record in the region as a successful serial entrepreneur and investor. Prior to founding BECO Capital, Farha co-founded and exited Bayt. com, Butlers, the UAE’s largest commercial laundry company, and Intercat, one of the largest catering companies in the UAE. He was also a seed investor in Gonabit, a Middle East focused daily deal website that was acquired by Living Social in 2011. A graduate from UCL in London in Management Sciences and Finance, he currently sits on the board of the Propertyfinder Group and several other portfolio companies.

‘Treps choice

The 2015 GMC Yukon Denali makes a striking impression

or a vehicle that looks so good from the outside, the cynics out there may search for something to complain about when considering the interiors of the 2015 GMC Yukon Denali. It’s safe to say that one will be hard-pressed to find fault with the premium features in this eight-seater SUV. With sleek aluminum trim and wooden inlays accenting plush leather-appointed seating, and a Bose surround sound system that amplifies every entertainment choice within the vehicle, the Denali has left no stone unturned in its quest to give its passengers a ridiculously relaxing commute. The driver’s needs aren’t forgotten either- besides the increased horsepower, torque and fuel economy, the SUV also boasts having the GMC brand’s “smoothest and most solid” drive yet, alongside a veritable suite of safety and security features. So, for those ‘treps wanting to make their presence felt on the roads- the 2015 Yukon Denali is the vehicle for you. www.gmc.com/yukon-denali-premium-suv.html

MARCH 2015 Entrepreneur

IN PICTURES H.E. Reem Ebrahim Al Hashimy, UAE Minister of State and U.S. Ambassador to Libya Deborah K. Jones

Power players

Women in the World comes to the Middle East

he Women in the World Middle East summit was held at the Four Seasons Resort Dubai at Jumeirah Beach on February 3, 2015, with the intimate event bringing together some of the region’s most influential women to share their individual stories with the selected invitees. Launched in 2009 by acclaimed journalist Tina Brown (founder and CEO of Tina Brown Live Media), Women in the World is “a movement dedicated to advancing women and girls through stories and solutions,” and the Dubai event, presented by GE, was the first of its kind in the Middle East. In a statement, Brown said, “Tonight’s forum gives a sense of our mission: to present the voices of women of originality, daring, and accomplishment. There is so much we can learn from them! These are the role models we want our daughters to

Entrepreneur MARCH 2015

follow.” With H.E. Sheikh Nahyan Mabarak Al-Nahayan, UAE Minister of Culture, Youth and Community Development, acting as guest of honor for the event, speakers at the summit included H.E. Reem Ebrahim Al Hashimy, UAE Minister of State, H.E. Noura Al Kaabi, CEO, Media Zone Authority Abu Dhabi (twofour54), Beth Comstock, President and CEO, GE Business Innovations and Chief Marketing Officer, GE, HRH Princess Reema Bint Bandar Al Saud, founder, Alf Khair and Baraboux, Rana el Kaliouby, co-founder and Chief Science Officer, Affectiva and others. The highlight of the evening? Hearing Princess Reema address the current state of women’s affairs in KSA in a forthright and realistic manner, and the importance of applying retail workforce innovations taking context into consideration: “Be on the edge, not go over.”

H.E. Sheikh Nahyan Mabarak Al-Nahayan, UAE Minister of Culture, Youth and Community Development