SMEAME February2013_Powerlunch

SUCCESS SERIES

An entrepreneurial exchange Three of our Stars of Business award-winning companies tell their stories of struggle and accomplishment, during a recent Success Series event in Dubai.

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Joumana Saad CPI Business

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February 2013

he turnout was impressive during the recent Stars of Business Power Lunch event, as SME owners and managers came to gain insights and advice from the guest speakers of the winning companies. The event was organised by CPI and presented by ADCB, with du serving as the Exclusive Telecom Partner. The theme was the celebration of success, while at the same time the event provided the speakers a platform to share their personal stories of hard work, success and lessons learned. The diversity of the panel of speakers also made for interesting discussion, as each of the companies represented were at a different stage of growth. Other winners and finalists, who were

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also present in the audience, enjoyed the informal and interactive format of the event, with the speakers taking questions and feedback from the audience.

Nilanjan Ray opened the event with a welcome speech outlining the bank’s commitment to serving the SME sector in the UAE and abroad. He explained how “SME business continues to be a priority for the bank” and added that he expects “more opportunities for SMEs in the near future as a result of the continued growth of logistics and trade.” He added: “We are proud to be affiliated with SME Advisor for the fourth year in a row. I would like to welcome and applaud our speakers, who are prime examples of companies excelling in their categories.”

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Winner presentations Winner: People’s choice

The first speaker to take the stage was David Cook, Founder and Managing Director of UAE-compare.com, a provider of fit-out contracting solutions. The company hand picks the most qualified suppliers. It then presents them to its clients, with the intention of eliminating the rogue traders from the market and providing a low-risk solution to the tendering process associated with new office fit-outs. The company won in the People’s Choice category at the SME Advisor Stars of Business Awards 2012.

Through an interactive presentation, David highlighted real issues and obstacles he faced after he came to the UAE with the intention of starting up his own business. His strategy was to find a problem or market demand, create a solution and see whether people would be interested enough to purchase it. After narrowing his focus and building up the business, one of his first challenges was to master the art of maintaining a healthy cash flow. He explained how receiving payments on-time and efficiently is easier said than done, and any delay in delivering services to the customer can cost an SME its reputation.“If the product or service you are offering is reliant on you receiving something first, be sure to screen through suppliers thoroughly and test them on small products,” said David.

During his entrepreneurial journey, David admitted reaching a point where he had run out of money and had to sell his personal items just to keep his dream alive. Among the key lessons he has learned along the way was the value of relationships and partnerships.

After seven months of scouring to find right contactors, David partnered with five companies. “People overpromise and under deliver; to safeguard yourself against losing time or money, include a time penalty into the contract or, simply double the delivery time and plan for the goal,” he said. He added: “It’s important to remember that you are an expert in only one or two fields at most; a strong organisation needs experts in at least five. IT and Web skills are extremely important; you simply can’t do it all yourself.”

“The potential for business was there, but I was not getting enough business to stay in business,” said Robert.

Then came a turning moment when an Emirati friend of his offered some financial support, just when he thought he would have to give up on his dream. After developing and executing a number of successful customer service reports and initiatives, Robert was called to meet with Abu Dhabi government, where one of the highest-ranking executives quickly took notice to the importance of the company’s reports. To this date, Robert estimates that about AED 40 million has been spent by government institutions in the UAE with his company on a number of initiatives and solutions.

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Being an entrepreneur is fantastic for a number of reasons. I learned more in 2011 and 2012, than any college or university has ever taught me about doing business. I learned about cultures and corporate world, and experienced the real challenges first hand.

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David Cook Founder and Director UAE-Compare.com

When it comes to defining your business idea and plan, Robert emphasised the importance of creating a service that is scalable and adaptable to new market needs. “We started out with mystery shopping and gradually developed into an institute with a global footprint with partners from all regions. We are in the business of selling solutions and have recently developed eLearning solutions,” says Robert. “When you’re running a business, today is not as important as tomorrow. You need to have a plan a place, and you need to know what your are selling and how valuable it is. I didn’t do this right for the first 18 months.”

Robert also spoke about the company’s core value of investing in its human capital. “My advice to you would be to always look after your greatest asset, which is your staff. Reward and recognise continuously; be creative in engaging the team and get them to think as a team.” He added that in a unique place like the UAE, where professionals are away from their home countries and families, an employer has the opportunity to form a real bond with it employees, and in return, gain their loyalty.

Robert Keay Founder and Managing Director Ethos Consultancy

Abdullatif Alsayegh Owner and CEO Alsayegh Media

Winner: Consultants

Winner: Media, marketing and events Emirati entrepreneur of the year

During the second presentation, Robert Keay, Founder and Managing Director of Ethos Consultancy, began by being completely honest about the difficulties he faced in getting his business to take off in the UAE. The first mistake, he says, was assuming the business environment in the UAE would be similar to his home country.

The final speaker of the day was Abdullatif Alsayegh, an Emirati entrepreneur and pioneer in the UAE media industry. After spending time in the US studying mass communications, Abdullatif returned to the UAE ten years ago to find himself in an environment with a media scene not well

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SUCCESS SERIES prepared to accommodate his goals. He explained how he came close to choosing another career until he received a phone call that changed everything for him.

A company from London contacted him, as they had plans to launch a new radio station in Dubai and wanted him onboard.

Abdullatif was at the forefront of launching Al Arabiya, the first Arabic radio station in Dubai. “I had no title at first, and within three months, I had four titles all while I was still very young. Al Arabiya turned into a success, so I thought about another station.

In less than two years, I built eight stations covering Hindi and other languages. We built teams and brought them to Dubai,” said Abdullatif He later ventured into newspapers and launched a number of Arabic language titles, and eventually launched Dubai Eye, after convincing the board that talk radio could work in a place like Dubai. Throughout his time working in the media industry, Abdullatif says it was his determination to succeed that kept him focused on reaching his goals. “I learned through my journey that possibilities are always there; it’s up to us as to what we can make possible. It’s crucial to bring on the right people who can hit the ground running like soldiers,” he said.

has its eyes set on a regional expansion with a near-term launch in Saudi Arabia. “With 25 different nationalities on board, recruiting is part of our long-term strategy, as we are looking for people who can help us get into foreign markets,” he added.

Other winners of the 2012 SME Advisor Stars of Business Awards attended the half-day event including Kris Barber, CEO and Founder, Dgrade, which was named Green Business of the Year.

Questions from the audience touched on a number of topics including, market research, sales strategies, risk and reputation and human capital. When asked if they would have done anything differently, David was of the opinion that he would have made the same decisions and mistakes, as he has learned so many valuable lessons along

After stepping down as CEO of Arab Media Group, Abdullatif decided the time was right to start something up on his own. Alsayegh Media was formed in 2010 with a vision of becoming the go-to local advertising and marketing agency.

“My mission statement was enough to get us noticed in the market. We did not go after government at first; we went after international names. Because we had a local expertise, and then began to received outsourced work from larger agencies based here,” he said.

Abdullatif had big expectations for the brand even during its very small beginnings. “We had no office when we started, I went to a client and I sold something before we formed the company.

So, the drive was there from the very beginning.”

He also explained how he spent a lot of time and effort in putting the right team together for his new company. Today, the company has 62 employees and plans to open an office in Abu Dhabi. It also

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I learned through my journey that possibilities are always there; it’s up to us as to what we can make possible. It’s crucial to bring on the right people who can hit the ground running like soldiers.

“

Attendees were invited to network with industry experts as well as the winners and finalists during the event.

the way. “Being an entrepreneur is fantastic for a number of reasons. I learned more in 2011 and 2012, than any college or university has ever taught me about doing business. I learned about cultures and corporate world, and experienced the real challenges first hand,” he said.

When asked about his general observations on the topic of Emirati entrepreneurship, Abdullatif seemed optimistic about the younger generation: “I can see a new generation that is looking beyond financial satisfaction with a new spirit of personal accomplishment.

This attitude is starting to change. We are seeing good signs, Emiratis are now accepting other types of roles such as sales jobs.

We are also doing this to set an example, and this is a reason in itself to be successful.”

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About the winners

Robert Keay

David Cook David Cook founded UAE-Compare.com in 2010 after moving from Wales to the UAE with the intention of starting his own business. Previously, he has worked for over six years in the banking sector in the UK.

UAE-Compare.com

The company offers 360 degree commercial and retail fit-out solutions in commercial and retail interior design, furniture supply, IT and infrastructure, security and CCTV, relocation and removal services. The company was also named a finalist for the 2011 Stars of Business Awards.

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Robert is the owner of Ethos Consultancy, a Middle Eastern customer service consultancy and provider of training and software solutions. Established in 2004, Ethos is now a multi-million sollar turnover business with offices in Dubai and Abu Dhabi. Robert originally set up his own consultancy and training firm in the UK in 1995, having spent the previous six years as Co-owner of one of the UK’s leading customer service training and consultancy firms.

Ethos Consultancy

The company specialises in delivering excellence in customer service solutions across the Middle East. It has developed a range of customer service solutions that help clients achieve a sustainable competitive advantage in the field of service quality. It assists clients within a broad spectrum of industries to accomplish a bottom line financial improvement.

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Abdullatif Alsayegh Abdullatif Alsayegh is an Emirati entrepreneur and media pioneer who has built a brand around the needs of both local and global companies.

Before founding his company in 2010, he was CEO of Arab Media Group and managed a large portfolio of media assets for the Dubai Government.

Al Sayegh Media

Al Sayegh Media is an agency that specialises in digital and traditional media.The company has been built to provide a long list of services including PR, Web development, events and branding, just to name a few.

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