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FIRST PERSON MARKETING GOES MOBILE EFFICIENCY MATTERS
LEADING THROUGH A PANDEMIC HOW TO SUCCESSFULLY CONNECT TACTICS TO IMPROVE COLLABORATION
(AND FOR WHAT COMES AFTER) WITH CONSUMERS FOR REMOTE TEAMS
CONNECTING
THE DOTS
THE PROS AND CONS
OF VIRTUAL DUE DILIGENCE
PROACTIVITY VALUE
EXEMPLIFIED PROPOSITION
FIVE UAE STARTUPS
ON STRATEGY PIVOTS
OPPO MIDDLE EAST DURING HEALTH CRISIS
AND AFRICA
PRESIDENT
FRONTRUNNER
ETHAN XUE
9 77231 1 541 008 >
JULY 2020 | ENTREPRENEUR.COM | UAE AED20
CONTENTS JULY 2020
18
Ethan Xue, President,
OPPO Middle East and Africa
18 42 26 40
INNOVATOR MONEY START IT UP CULTURE
PROACTIVITY VC VIEWPOINT ECOSYSTEM LIFE
EXEMPLIFIED Connecting the dots Catalyzing online First person
Frontrunner Ethan Xue Al Waha Fund’s Areije Al commerce Loretta Ahmad, founder
OPPO Middle East Shakar looks at the pros Visa’s COVID-19 CEMEA and CEO of Houbara Comms,
and Africa President shares and cos of virtual due Impact Tracker shows how reflects on leading a company
his advice for leaders. diligence. the COVID-19 pandemic through a pandemic.
has radically altered how
customers interact with 32
businesses today. ‘TREPONOMICS
PRO
14 Making Milestones
EDITOR’S NOTE Samir Ranavaya shares
By Aby Sam Thomas 10 lessons from 10 years of
running a business in the
50 Middle East.
START IT UP
Q&A 57
Value proposition START IT UP
Aalia Mehreen Ahmed looks STARTUP FINANCE
into how five UAE startups “We got funded!”
went about pivoting their The story behind the recent
business models amid the fundraising success of
36 Acer ConceptD 3 Ezel COVID-19 crisis. MENA startups Ajar.
4 / E N T R E P R E N E U R . C O M / July 2020experience
downtown
living
The UAE’s most exciting new destination.
A journey of discovery for the whole family.
Where nature, fun and entertainment
come together.
800-Arada (27232)
arada.com
July 2020 / E N T R E P R E N E U R . C O M / 5CONTENTS JULY 2020
52 Tabby, a buy-now-pay-later fintech startup launched in 2019 by
Hosam Arab, has raised US$7 million in a new round to propel its growth
and entry to the Saudi Arabia market.
38 58
CULTURE START IT UP
TRAPPINGS Q&A
‘Trep gear Boots on the ground
The executive selection Behind the scenes at
for the entrepreneur Dublin-headquartered
on your list that has RentalMatics as it
everything. Okay, maybe expands into the Middle
for a little self-reward as East.
well.
36
60 TECH
43 48 ‘TREPONOMICS SHINY
IN THE LOOP ‘TREPONOMICS PRO #TamTalksTech
DOUBLING DOWN MARKETING Weathering the storm Gadgets and doodads
KBW Ventures, founded Marketing goes mobile Pilar de Miguel Viera that you might’ve missed
by HRH Prince Khaled bin Surkus’ Bhaji Illuminati explores why organizations out on, sourced by a tech
Alwaleed bin Talal, has on the secret to should take a customer- aficionado. Yes, it’s okay
participated in food tech successfully connecting first approach during to want them all… and
startup TurtleTree Labs. with consumers. unprecedented times. no, it’s not our fault.
32
Samir Ranavaya, Managing
Director of Innerspace, shares 10
lessons from 10 years of running
a business in the Middle East
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CEO Wissam Younane wissam@bncpublishing.net Entrepreneur Middle East every issue
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CREATIVE LEAD Odette Kahwagi
MANAGING EDITOR Tamara Pupic
STARTUPS SECTION EDITOR Pamella de Leon
DIGITAL SOLUTIONS DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net PO Box 502511 Dubai, United Arab Emirates
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CONTRIBUTORS All rights reserved 2020.
Opinions expressed are solely those of the contributors.
Loretta Ahmad Bhaji Illuminati Entrepreneur Middle East and all subsidiary publications in the
Areije Al Shakar Panos Linardos MENA region are officially licensed exclusively to BNC Publishing
Fida Chaaban Iba Masoob in the MENA region by Entrepreneur Media Inc.
Tamara Clarke Pilar de Miguel Viera No part of this magazine may be reproduced or transmitted in any
form or by any means without written permission of the publisher.
Images used in Entrepreneur Middle East are credited when necessary. Attributed use of Printed by United Printing and Publishing
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In addition to our print edition, we’re bringing EntMagazineME
you all sorts of industry news on our web
mediums. Joining us online means getting @EntMagazineME
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relevant business and startup content in
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12 / E N T R E P R E N E U R . C O M / July 2020FUN COMES GUARANTEED YOU DECIDE WHEN THE PARTY STOPS WITH 24HR FOOD & DRINK. NOW OPEN AT DUBAI DIGITAL PARK. RADISSONHOTELS.COM/RED
EDITOR'S NOTE
CANDOR OVER CHARISMA
Strange circumstances make for quality takeaways
I feel it’s safe to say that we’ve all in the dialogues that we were having.
witnessed these kind of snafus by Stripping off the supposed norms that
now- consider, for instance, those viral are expected of these chats made it
videos showing how kids interrupted possible for informal yet insightful
their parents’ live television interviews viewpoints to come into the limelight,
on BBC and Sky News recently. Closer and that’s what ended up making it
to home, we’ve seen the son of UAE an enriching experience for everyone
Minister of State for International involved. And that’s something I’d
Cooperation H.E. Reem Al Hashimy advise all you entrepreneurs to take
make a cameo as she made a speech to heart in the times we live in today.
for a high-level global conference con- Let’s drop the act, let’s be real, and
ducted online, and I’ve personally had let’s have everyone feel like they can
to deal with the meows of my pet cat, be themselves- without our judgment,
Kat, come through on multiple Zoom and with our support.
discussions that I have been moderat-
ing from my home.
Such moments, as funny as they
seem in hindsight, can be quite hor-
rific to experience in real time- I can
personally attest to the feeling of
absolute embarrassment that envelops
me when Kat makes an appearance on
my professional calls. But while I may
O
ne of the entertaining be cringing during these instances,
aspects about our use I’ve yet to experience anyone actually
of video conferencing making me feel that way about them
platforms amid the either- on the contrary, people have Kat
COVID-19 crisis is been absolutely gracious and accepting
how they offer, often of these moments, with many of them
accidentally, a no- telling me that they have only made
filter look into how me seem more relatable and easier to
we are going about identify with, especially given our cur-
our lives and livelihoods today. Work- rent circumstances.
ing from home over the course of the Indeed, whenever Kat caused my
coronavirus pandemic has meant that pretenses to fall in the middle of
we’ve had to juggle our personal and my discussions, I found out that the
professional lives from a singular set- conversations I was having also turned
ting, and this has led us to quite a few for the better- the discourses became Aby Sam Thomas
unfortunate (but almost always amus- a lot more open and friendly, with the Editor in Chief
ing) moments where our dual selves resulting levity also allowing for can- @thisisaby
collide with each other. dor to take precedence over charisma aby@bncpublishing.net
14 / E N T R E P R E N E U R . C O M / July 2020IN THE LOOP
Virtuzone and KIKLABB
facilitate new service that will
allow you to register for a Dubai
Trade License using WhatsApp
Registration for Dubai trade licences
can now happen entirely via WhatsApp,
according to the latest announcement
by Virtuzone, a company setup specialist
in the UAE, and KIKLABB, the company
setup jurisdiction located in Port Rashid.
In addition to ease of opening a busi-
ness in Dubai, the new service will also
Responsible business transform how the licensing industry has
been traditionally managed.
Dubai Chamber launches business mentoring and support Using the popular messaging service
WhatsApp, Virtuzone and KIKLABB pro-
program to help SMEs navigate impact of COVID-19
vide customers with a detailed step-by-
step licencing process, including quick
D
to fill and user-friendly forms that are
ubai Chamber of Dubai. Dr. Belaid Rettab, Senior designed to be used on smartphones.
Commerce and Director, Economic Research The new provision also facilitates a
Industry has launched and Sustainable Business channel for customer service (which
its Business Mentoring Development Sector, Dubai allows quotations, enquiries, requests)
and Support Program Chamber, notes that it will offer that can be availed using email or phone,
(BMS), a CSR initiative which will other benefits for participants and allows for payment links to be
pair large corporations with SMEs such as recognition, training, CSR shared.
in Dubai that require ongoing support, mentorship and business Despite the adverse impact on indus-
support and mentorship in light partnerships. tries, due to the COVID-19 pandemic,
of the new challenges from the First up who will launch the Virtuzone and KIKLABB have seen an in-
COVID-19 pandemic. first initiative supported Dubai crease in the demand for trade licences
The program, established Chamber’s BMS Program is The in the first half of 2020.
by Dubai Chamber’s Centre Coca-Cola Company, which will “KIKLABB and Virtuzone are leaders
for Responsible Business, will introduce its Open Like Never within their respective fields, and with
match SMEs with companies Before initiative. The company will the use of WhatsApp, it’s never been
offering professional advice and donate 250,000 face masks and easier to set up and register a business,”
resources tailored for their needs, US$240,000 worth of products commented Tasawar Ulhaq, CEO of
and help strengthen business to 3,000 restaurants and small KIKLABB.
efficiency. At the same time, it stores across UAE. Coca-Cola “WhatsApp has become the most
provides an avenue for large will also advise retailers with popular form of communication among
corporates to broaden their CSR in-store safety communications our clients and by facilitating the entire
impact and contribute in giving a and social awareness campaigns company formation process via this
hand to Dubai’s entrepreneurial to encourage customer platform, we not only ensure social
ecosystem and economy. engagement. distancing in times of COVID-19, we also
The program also aims to create For companies interested in participating make it as convenient as possible to set
a business support platform that in Dubai Chamber’s BMS program, contact up a business in Dubai,” added George
fosters stronger links between the team at: Hojeige, CEO of Virtuzone.
large companies and SMEs in responsiblebusiness@dubaichamber.com
16 / E N T R E P R E N E U R . C O M / July 2020INNOVATOR 18 / E N T R E P R E N E U R . C O M / July 2020
PROACTIVITY EXEMPLIFIED | FRONTRUNNER ETHAN XUE
PROACTIVITY
EXEMPLIFIED
OPPO MIDDLE EAST AND AFRICA PRESIDENT
FRONTRUNNER/ ETHAN XUE
b y A B Y S A M T H O M A S | P H O T O G R A P H Y FA R O O Q S A L I K
“本分” (pronounced “benfen”) is a Chinese term that refers
to one’s willingness to take responsibility, and this is one of the
principles that Ethan Xue, President for the Middle East and
Africa (MEA) at OPPO, shares with me when I ask him about
the ideals that he’d recommend fellow business leaders to keep
in mind as they go about leading their enterprises. Now, this is
a rather small detail from the wide-ranging interview I had with
Xue, but given the times we are living through right now, it was
this sentiment he shared that particularly struck me, especially
when he explained how one could go about exemplifying
“本分” (which, by the way, is also one of OPPO’s core values)
in our day-to-day lives and businesses: “When issues emerge,
be the first to take responsibility, and act proactively.”>>>
July 2020 / E N T R E P R E N E U R . C O M / 19INNOVATOR
As a brand, OPPO is per- This is the phone for people who care
haps primarily known for about work-life balance, who want an
its smartphones- from the easier life, without compromising the
aforementioned Reno line, quality of their communication and daily
to the recently launched activities.”
Find X series, its devices OPPO made its debut in the MEA re-
have found favor with gion when it joined the Egyptian market-
an audience around the place in 2015, and a hub for the region
globe- Gartner had ranked was set up in Cairo the next year. In
it fifth in its list of top 2019, the brand decided to make Dubai
five smartphone brands the center of its operations in the region-
in the world for the first Xue says this was done because the UAE
quarter of 2020. But and Saudi Arabia were the key countries
smartphones aren’t the OPPO wanted to focus on in the region in
only thing that OPPO has 2020. “I’m pleased to see that the Can-
under its banner. “There alys Q1 2020 report indicated that OPPO
is no doubt that smart- is now ranking fifth amongst smartphone
phones are now contrib- vendors in Middle East,” Xue says.
uting the biggest profits “Meanwhile, we also scored the high-
in this market; however, est year-on-year growth (214%) when
OPPO is expanding,” Xue comparing all the brands.” While OPPO’s
says. “Our products range success in the local market can be drawn
from smartphones to back to a variety of reasons, Xue points
IoT (Internet Of Things) out that the brand’s efforts in under-
products- we’ve launched standing the region and the multicultural
our first wireless ear- people who live in it has been especially
phones and smartwatch key. “The MENA region is a market full of
earlier this year, and they opportunities for people who dare to try
will hit the local markets and always think about local users before
Ethan Xue, President, very soon. And that is not they act,” Xue declares.
OPPO Middle East and Africa the end of the story- as
the world’s leading smart
device manufacturer and “I ENCOURAGE ALL TEAM
Xue, who is originally from China, has innovator, we’d like our users to see MEMBERS TO GET TO
been leading OPPO’s MEA operations technology as an art form, and provide KNOW EACH OTHER WELL,
since August last year, but he’s been them with products that can truly affect AND GET TO KNOW THE
working with the company for the past the way they live.” MARKET FROM A DEEPER
eight years- he reveals that he joined the OPPO’s latest release in the region has PERSPECTIVE.”
Dongguan-headquartered enterprise in been the Find X2 Pro, with reviews large-
2012 right after his graduation, and he’s ly casting it as one of the best Android
since worked his way up in a variety of phones you can buy right now. Given his This is a philosophy that Xue has inte-
different roles there. Prior to his current role at OPPO, it’s to be expected that Xue grated into his leadership strategy for his
role, Xue previously led the marketing would echo this sentiment- however, team in the region as well. “A good leader
team in China for the 2018 launch of there is still something rather relat- should be humble, and have a generous
Reno, one of OPPO’s premium series of able as he voices his excitement about heart to welcome team members with
smartphones, and he is today tasked with the device. “I really fancy the black comprehensive backgrounds and believe
leading all of the company’s sales and ceramic back of the Find X2 Pro,” Xue in them,” Xue says. “As the leader of the
marketing teams based in the MEA re- says. “The first time I touched it, I was MEA market, where we have both Chi-
gion. When asked to describe his duties very impressed by the unusual texture. nese employees from our headquarters as
as OPPO’s President for the MEA region, And the journey of surprise only starts well as from the region, respecting each
Xue replies, “My main focus is to under- there. You will love it more when you other and respecting the local market, is
stand the local market needs (includ- find that you can take great photos of, the bottom line for us to operate here.
ing culture and consumer behaviors), say, running kids, even at night, or when I encourage all team members to get to
management of our well-selected talent you suddenly realize that taking notes is know each other well, and get to know
for the MEA team, and relationships now never a problem- Find X2 Pro can the market from a deeper perspective,
between OPPO and our local partners.” transfer an image to text with a blink! which means that they need to be always
20 / E N T R E P R E N E U R . C O M / July 2020PROACTIVITY EXEMPLIFIED | FRONTRUNNER ETHAN XUE
“The MENA region is a market full of
opportunities for people who dare
to try and always think about local
users before they act.”
willing to try new things, while also At this point, it’s worth noting that
never stopping learning from the past.” my conversation with Xue is happen-
And when it comes to making sure his ing as the world continues to grapple
team feels motivated and supported, with the effects of the global corona-
Xue believes that a clearly defined goal virus pandemic, and much like every-
is absolutely integral to achieving that. one else, he too has been personally
“Based on my personal experience of affected by the COVID-19 crisis. “The
taking management roles, setting up last time I hugged my parents or met
the right goal at the very beginning with my friends back in China was
can affect the whole team and their half a year ago… I miss my hometown
morale all the way to the end,” he says. so much,” Xue admits. Of course,
“Rumors that lead to negative feelings the business landscape in which Xue
will travel fast inside the team when operates has been rattled too by the
they cannot see the finishing line, and COVID-19 crisis- Gartner says that
as a consequence, that will see them global sales of smartphones to end
achieve less than expected as well.” users have declined by 20.2% in the
But Xue also notes that once goals first quarter of 2020, with OPPO be-
are set for the team, they should be ing one of the brands (alongside Sam-
allowed to realize them at their own sung, Huawei, and Apple) that had
paces- undue pressure from leaders registered these falls in demand. But A true flagship experience
in the beginning can have a negative there are opportunities to be found in
impact rather than a positive one. crises as well, Xue notes. OPPO launches the Find X2 Pro
“Passion can be stimulated when “We’ve witnessed the massive in the UAE
people get near to realizing a goal,” he potential of e-commerce because of OPPO has announced the launch of its much-
says. “So, it’s important for leaders the widespread COVID-19 situation, awaited flagship smartphone, Find X2 Pro, in
not to push too hard at an early stage- and it is quite impressive to me that the UAE in partnership with Etisalat. Packed
we’ll get there when we get there.” so many brands and platforms are with the game-changing 5G technology, a
It should be clear here that Xue is switching the way they do business pioneering camera system, and the most
not a fan of micromanaging when it with such remarkable speed,” Xue advanced screen in the industry, Find X2 Pro
comes to leading teams- he subscribes says. “OPPO is one of them- apart has been declared to be “an embodiment of
instead to the belief that leaders create from the CSR campaigns we did with design elegance that delivers OPPO’s industry-
leaders. “Good leaders should always media and third party organizations, setting ultra-premium experience.” The coveted
trust their teams,” he declares. “I’m we’ve achieved satisfactory results flagship was made available in its black
not talking about just believing in their in the past quarter, and I’m look- ceramic model with 512GB ROM at Etisalat
skills; of course, that’s the bottom line. ing forward to the performance of stores across the UAE and Etisalat website
But the trust that I’m talking about is e-commerce department. In addi- from June 18, 2020 for AED4,999. The Find X2
allowing team members to make deci- tion, COVID-19 reshaped consum- Pro smartphone is powered by OPPO’s most
sions, so that they feel like they really ers’ purchase behavior- they’re now powerful triple-camera system that adopts a
belong to the team. They will also be tending to spend more time browsing Sony IMX689 48MP primary camera, a 48MP
bonded together via responsibilities online content, while also starting to ultra-wide-angle lens, and a 13MP telephoto
of the decisions that they made. You pay attention to physical and mental lens. With a 5G-ready Snapdragon 865 chipset,
may also see that as a trick to retain an health. I think this is a sign for us to a smooth 120Hz refresh rate, 3K QHD+ Ultra
excellent executive team, as each one invest even more on social platforms, Vision Screen that is capable of displaying over
of them can have a sense of personal and also enhance offline experiences one billion colors, and an innovative 65W Super-
achievement at the end of the day, but to attract consumers who will now VOOC 2.0, the fastest charging technology in
at the same time, they are also willing evaluate shopping experiences with a the industry, the OPPO Find X2 Pro has been
to share with each other.” higher standard.” >>> designed to deliver a true flagship experience.
July 2020 / E N T R E P R E N E U R . C O M / 21INNOVATOR
“A GOOD LEADER SHOULD
ALWAYS PUSH THE
BOUNDARIES AND BREAK
RULES- YOU CAN’T IMAGINE
THE NUMBER OF TIMES
I’VE UPGRADED MEETING
AGENDAS WITH DIFFERENT
DISCUSSIONS!”
Ethan Xue, President,
OPPO Middle East and Africa
22 / E N T R E P R E N E U R . C O M / July 2020PROACTIVITY EXEMPLIFIED | FRONTRUNNER ETHAN XUE
“it’s important for leaders not to THE EXECUTIVE
push too hard at an early stage- SUMMARY
Ethan Xue, President -
we’ll get there when we get there.” MEA, OPPO, shares his advice
for leaders
Xue is thus clearly optimistic about When asked about the kind of
what the future holds for OPPO in innovations one can expect from
the MEA region, with him believ- the OPPO brand in the future, Xue 1/ Don’t limit the definition of learning
ing that his company’s innovations points toward the user-centric “Don’t define learning as just as going
are certain to find an audience here. nature of his company to answer to a forum, a keynote, a workshop, an
“I come from a country where the that. “Some people tend to define e-learning exercise, etc. Learning can
internet has an impact on almost innovations as groundbreaking sometimes be done by just paying
every aspect of life,” he says. “Peo- technologies or shocking functions attention to the latest television shows,
ple browse online when they have to that can change your life. From my toys that your kids like to play with,
hunt for a nice restaurant, call a cab, point of view, innovation can also etc.- simple, everyday observations and
book a ticket, or get bored- the young focus on minor changes, such as, say, thinking can provide fresh perspectives
generation there cannot live without slightly moving up the position of a to look into the market and users.”
technology. And after spending some button- the kind of changes where
time in the MEA region, I see similar users will benefit, and OPPO always 2/ Build your network early on
great opportunities here- the demand put the demand of users ahead “In business, you cannot overstate the
for technologies that can switch life- of everything.” From a personal importance of support you can get
styles from offline to online is boom- standpoint though, Xue is looking from people you know from way back in
ing, and this applies to everything forward to enabling his team to your career. Remember to keep in touch
from software developments to smart think both daringly and differently with them- that can also help refresh
devices. COVID-19 has perhaps even to ensure OPPO’s prosperity on the your interpretation of the market
accelerated the trend, and as such, it road ahead. “A good leader should sometimes.”
is, for sure, a good time to make the always push the boundaries and
maximum use of it.” break rules- you can’t imagine the 3/ Use positivity as a tool
number of times I’ve upgraded “Fuel your team with compliments. It’s
meeting agendas with different always good to show your appreciation
“We’ve witnessed the massive discussions!” Xue says. “After all, and trust as a leader, because when
potential of e-commerce an idea from a chat over lunch could morale is high and people are confident,
because of the widespread spark the innovation for the next you will be surprised to see that there
COVID-19 situation.” generation of products- who knows!” is still so much space for them to climb
higher up.”
4/ Consider your past ambitions
OPPO Find X2 Pro “Instead of comparing the kind of job
or business you wanted to do when
you were a kid and your current state,
revisiting a childhood dream can
remind you of the kind of person you
wanted to become- understanding the
reason behind it may call back a lost
soul, and it’s a good way to review your
practice of enterprise as well.”
5/ 本分
“Pronounced ‘benfen,’ this is a Chinese
term which is one of OPPO’s core
values, and it means being willing to
take responsibility. So, when issues
IMAGE COURTESY OPPO
emerge, be the first to take the
responsibility, and act proactively.”
July 2020 / E N T R E P R E N E U R . C O M / 23ADVERTORIAL
our transparency throughout the pro-
cess, in combination with our continu-
ous guidance throughout each phase,
including construction and financing.
Can you explain how the aforemen-
tioned factors relate to and comple-
ment the brand value of the Group?
At the heart of Radisson Hotel Group is
our brand promise– every moment mat-
ters. It is simply how we do business, and
who we are at the core.
Relating to our core beliefs, I think the
following reflects what makes us apart,
but also the reason why many investor,
guests, and employees have decided to
either work or stay with us.
On our people– we grow talent, and
talent grows us. This shows the trust
and empowerment in every single team
member we demonstrate, but also the
mutual humility in allowing new thinking,
Redefining hospitality
innovative ideas and constant desire for
improvement.
On our relationships– we value open
and direct interactions to build trust.
We have always shown transparency
Ramsay Rankoussi
Vice President and Head of Development for Africa and Turkey, Radisson Hotel Group
in our business dealings, and we value
honest and open discussions in every
partnership we enter into, but we have
also learned to listen to feedback, fur-
ther improving our offerings and tailored
“At the heart of Radisson Hotel Group is our brand promise– every moment solutions.
matters. It is simply how we do business, and who we are at the core.” Finally, on our diversity– we are many
minds with one mindset. We believe in
H
cultural diversity, and we operate in most
aving been part of the Radisson Hotel Group for over six years leading countries further translating our ambi-
its development efforts in various mandates, Ramsay Rankoussi was tions to become a true global catalyst of
recently appointed the enterprise’s Vice President and Head of Develop- growth, inclusion, and opportunities.
ment for Africa and Turkey, after previously overseeing its strategic
growth across the Middle East, Turkey, and French-speaking Africa. In an Have the past few months affected
interview with Entrepreneur Middle East, Rankoussi shared his thoughts on the road Radisson’s pipeline, and what do you
ahead for Radisson, as well as the hospitality industry as a whole: think the long-term effect will be on the
MENA hospitality industry?
What do you think are the three most Each member of our development We have obviously witnessed delays
important facets of Radisson Hotel team leads through this approach with on sites due to the lack of movement of
Group in the MENA region, especially in both the proximity of their geographical goods, but also of people. Some coun-
the current market climate? zone, as well as, and very importantly, tries have had more restrictions than
Our development team is at the heart their cultural and language understand- others, but overall, we have seen most
of our growth strategy, and they all are ing, reinforcing our alignment with each of our pipeline in line with schedule,
individually and collectively translating focus market- North Africa, Franco- with delays not expected to exceed six
it to execution. We have created a dual phone, and Anglophone Africa. to nine months. A natural decision is to
approach regarding our growth strategy Another significant factor which drives reassess the timing of opening, as while
in particular for Africa. One part con- our ability to succeed in establishing a property could be completed on time,
centrates on focus countries, while the long-term partnerships with our invest- it is also important to ensure its opening
other centers around creating clusters; ment community is our responsiveness- in a positive commercial environment, so
both resulting in critical mass and a always quick to provide answers and that preservation of cash and liquidity is
scale strategy. support, our pragmatic design approach, ensured to our owners.
24 / E N T R E P R E N E U R . C O M / July 2020ADVERTORIAL
Morocco is one of our top priorities, as and we are further accelerating our
we seek to accelerate our presence from development priorities to assist owners
two operating hotels to over 15 hotels in needs with conversion solutions and
within the next five years. We will also creative commercial offerings. There will
focus on reinforcing our operational also be an acceleration of newer technol-
strength in the holy cities of Makkah ogy that was ongoing, but now will just be
and Madinah with the ambition to reach implemented at a faster pace and across
over 5,000 rooms in the coming years many touch points of the industry.
between the two. Our
regional strategy remains
Radisson Blu Hotel, Cairo Heliopolis on creating scale further
helping us to translate
clustering efficiencies
Our growth objectives remain unchanged across every segment we
for the region, but Africa will represent represent.
the biggest land of opportunities, while
the Middle East will represent a priority of Finally, what’s your out-
conversions of operating hotels willing to look for the hotel group
join our network. Across the African conti- for the rest of 2020?
nent we are working on offering tailored The priority for everyone is
solutions for green-fields and takeovers, the preservation of capital
and we are geared up to further acceler- and liquidity, as cash flows
Hormuz Grand, A Radisson Collection Hotel
ate our growth journey in key countries. are negatively impacted
with the reduction or ab-
What sectors and geographies do you sence of any inflows dur-
see the biggest demand for hotels in ing the various lockdowns.
the MENA region right now, and which of Both owners and opera-
Radisson’s brands complement them? tors will work hand in hand
Egypt and Morocco represent two of our to protect their capital, but
focus countries in the region, and the op- also minimize the impact
portunities exist in every segment– from on employees to preserve
the midscale Park Inn by Radisson brand, as much as possible job
to the upscale Radisson but also lifestyle safety and security during
Radisson Red, our core upper-upscale these difficult times.
brand Radisson BLU, but also our entry Our ambitions across the
level luxury, Radisson Collection. region remains the same, Hormuz Grand Muscat Waterside Terrace
LEADING THE WAY
Ramsay Rankoussi, Vice President and Head of Development for Africa and Turkey, Radisson Hotel Group
Based in Dubai, Ramsay leads Radisson Hotel Group’s strategic ‘hub approach’ ensures synergy among neighboring countries
growth across Africa and Turkey with a team based in Dubai and creates further value for its hotels, in terms of both
and Cape Town. Ramsay Rankoussi has been with the company development and operations. Each member of Radisson Hotel
for more than six years and has recently been appointed to Group’s development team is a leader in this approach because
lead Radisson Hotel Group’s growth in Africa. The appointment of their geographical proximity as well as their local cultural
reinforces Radisson Hotel Group’s confidence that Africa knowledge and linguistic understanding of each focus market.
continues to be a region of growth.Tasked with increasing the Ramsay is proficient in legal contract negotiations, due
Group’s hotel portfolio and footprint in his assigned markets, diligence, and financial analysis. He oversees the underwriting,
the Group’s largest geographical area, Ramsay is an expert strategic planning, investment analysis and asset management
dealmaker, leading transactions from sourcing through to activities for all type of deal structuring, including conversions
execution. and take overs, financial commitments, franchise and straight
Radisson Hotel Group’s development and growth strategy in management agreements. A Belgian national, Ramsay is fluent
Africa follows a two-fold approach. The first part concentrates in multiple languages and with a multi-cultural background.
on focus countries while the second centers around creating He holds a Bachelor’s degree in Business Administration and
key hubs. By creating a mass city scale development strategy an MBA specialized in Hotel Real Estate Finance and Asset
with a focus on key countries and surrounding markets Management from the ESSEC Business School (IMHI) in Paris.
including Morocco, Egypt, Nigeria and South Africa, the group’s radissonhotelgroup.comSTART IT UP ECOSYSTEM
CATALYZING
ONLINE/COMMERCE
Visa’s COVID-19 CEMEA Impact Tracker shows
that the COVID-19 pandemic has radically altered
how customers interact with businesses today b y TA M A R A P U P I C
26 / E N T R E P R E N E U R . C O M / July 2020CATALYZING ONLINE COMMERCE | VISA’S COVID-19 CEMEA IMPACT TRACKER
"CONTACTLESS PAYMENTS WILL PLAY A
MAJOR PART IN YOUR RETURN TO BUSINESS.
UNDERSTANDING AND PLANNING FOR
THIS IS ESPECIALLY CRUCIAL FOR SMALL
BUSINESSES IN THE REGION.”
This is the reasoning behind small businesses looking to get
Visa’s latest initiative, “Where back on their feet, it is impor-
You Shop Matters,” which is tant to adopt and embrace new
centered on encouraging con- ways of working, integrate digi-
sumers in the UAE to support tal solutions, spruce up your
the country’s small businesses. e-commerce offerings while
Marcello Baricordi, Group General Manager, Middle East and North Africa, Visa
One of the facets of the cam- making sure the foundation
paign is Visa’s Small Business of great security is in place to
Hub, a platform that equips give consumers a great smooth,
N
othing ported a decrease, with the merchants with information secure, and frictionless experi-
“ lasts
forever”
UAE and Russia seeing the
highest dips at 86% and 84%
toolkits for digital growth as
well as resources on how to
ence,” Baricordi said.
But there’s been some silver
has respectively, and South Africa move to new digital ways of linings even amid this crisis,
been a the lowest, with two-thirds working and, eventually, aid in as noted by the co-founders of
popular (66%) of merchants recording their business recovery. “For Little Majlis, an online arts >>>
say- a decrease and 27% seeing an
ing for increase in customer visits.
a long “As we have seen in our report,
time, merchants are understand-
but it ably anxious about the future
seems with economic uncertainty and
that, in our current circum- changing shopper behavior,”
stances, business owners are noted Marcello Baricordi,
contemplating its truth more Group General Manager -
strongly than ever before. After MENA, Visa.
all, the global COVID-19 pan- It’s in response to this senti-
demic seems to have changed ment that throughout this
the face of commerce, with the crisis, and after it, Visa has
recently released COVID-19 CE- been committed to helping
MEA Impact Tracker by Visa, small and micro businesses
which surveyed merchants and bounce back from COVID-19.
consumers throughout the CE- “As a company that enables
MEA region, showing that the digital payments at more than
crisis has absolutely altered 61 million merchant loca-
the way customers interact tions around the world, Visa’s
with businesses today. priority is to help small and
The survey stated that medium businesses thrive
the impact of the pandemic at every step,” Baricordi
on merchant revenues and explained. “Globally, Visa is
profits has been high in all committed to digitally enable
regions, with merchants in 50 million small businesses to
the Kingdom of Saudi Arabia power recovery in communi-
being hit the worst, and South ties worldwide. Regionally,
African retailers being only we’ve already launched our
slightly more resilient. When SME focused campaigns in the
asked to assess their custom- UAE and Pakistan, which are COVID-19 CEMEA Impact Tracker
ers’ purchase frequency during really focused on helping SMEs
IMAGES COURTESY VISA
1 COVID-19 CEMEA Impact Tracker
the COVID-19 crisis, mer- have the tools they need to
chants across all regions re- hasten recovery.”
July 2020 / E N T R E P R E N E U R . C O M / 27START IT UP ECOSYSTEM
and crafts marketplace based more reliable and manageable happened soon after- but This crisis, Fitzsimmons
out of the UAE. “Since we approach to gifting.” Fitzsimmons still believes this added, has also shown that the
launched eight years ago, our Indeed, co-founder Anna- to have been a win for her overall support given to the
intent has been to cham- belle Fitzsimmons noted that homegrown enterprise. “While SME community in the UAE
pion locally made and make when Dubai Duty Free faced this is a short-term setback, has not been diminished. “We
it the norm, rather than the difficulties with their sup- we can’t lose sight of the fact have worked hard to build a
exception,” said co-founder ply chain of products sourced that without the pandemic, strong base of quality repeat
Anna Bolton-Riley. “These from abroad in the early days the advantages of ‘Made in the wholesale, retail, and corporate
days, with border restrictions of the coronavirus pandemic, United Arab Emirates’ may not clients who share an aligned
in place and a sense of the it was Little Majlis to whom have been so convincing, and vision,” she explained. “In the
ant revenues andImpact
profitsonhasmerchant
been highrevenues
in all and profits has been high in all
unknown prior to and dur- the retailer turned to when we wouldn’t be looking for- months prior to the pandemic,
nmerchants
merchant
revenues
worst
ing the regions,
hit,
height
and
Impact
of and
the
profits
withSouthonhas
merchant
been
KSA African
current merchants high
revenues
retailers
they wanted worstin and
hit,up
to stock and profits has
Southward
their
beenworld
African highopening
to theretailers
in up we were getting more and more
es,resilient
with KSA M
merchants
onlywave
coronavirus being
all
slightly regions,
peak, worstresilient
more
both with
hit, and
KSAUnfortunately,
shelves. South
merchants being the worst hit, and
again, South being
Impact on merchant revenues and profits has been highand in#MadeInUAE
all corporate enquiries for locally-
tailers
only slightly
existing more
and new African
resilient
corporate
Impact retailers only
restrictions
onmerchants
merchant slightly
around more
revenues
movement
and resilient
promoted to a global audience made products. We reached
clients regions,
sought outwith
LittleKSA
Majlis’ in Dubai worst
and thehit, and profits
temporary South athas been
African high
retailers
this prime
in
retail location,” out to these entities during the
M
servicesonly
Impact all regions,
and slightly
on
products, more with
as a resilient
merchant KSA of
revenues
closure merchants Duty being
and profits
Dubai worst
has been
Free hit,
said.and
shehigh in allSouth height of the crisis, reminded
regions,African
Impact
with KSAretailers
on only revenues
merchant
merchants slightly more
worst hit, andresilient
and profits has been
South African high in
retailers them that we were open for
M
business, and ready to service
93 all regions,
83 only slightly more
85 with83 KSA merchants
resilient 83 70 93 being 85
worst hit,83and South
70
their needs. As the movement
Impact African retailers
on merchant only slightly
revenues more
and profits hasresilient
been high in all restrictions started to ease, we
regions,Impact
with KSA onmerchants
merchant revenues
worst hit, and
and profits has been
South African high in
retailers began collaborating on some
Monly
59How would all regions,
youslightly
gauge the with
more resilient
54 KSA
59merchants
8355 93 being worst
85 hit,
54and
83 South 5570
unusual projects, including
COVID-19
impact of 66 crisis
64 on
African retailers only slightly 66 64
more resilient some fun ‘welcome back’ office
revenue / profit so far for your gift sets. Never did we think
83 93 85 83 70
business
How would/ store?
you gauge the 59 54 55 that face masks and quirky
impact of COVID-19 crisis on 15
66 64
15 face mask stickers would be on
revenue / profit so far for your 28 83 93 85 83 28 70 our product delivery list.”
24 would you gauge21
How the 5924 21 54 55
business / store? Raed Hafez, CEO, el Grocer, a
27
impact of COVID-19 crisis on 6627 64
26 26
High impact
revenue / profit Low/No
so far for impact 15 Dubai-based grocery market-
16 How would you 12 your 14 16 12 14
4 gauge the 59 4 54 28 55 place platform, also reports
business
Medium/impact
store? Difficult to assess
impact of COVID-19 crisis on 24 66 6421
1 3 3 3 1 4 273 3 3 4 that the COVID-19 crisis has
revenue / profit so far for your 26
15 AFRICA
UAE High impact KSA RUSSIA UKRAINE SOUTH
UAE AFRICA KSA RUSSIA UKRAINE SOUTH changed how their business is
business / store?Low/No impact 16 12 28
14
Sum of
Medium High + Medium
impact impact
Difficult to assess
24 4 21 perceived- for the better. “Our
1 27
3 3 28 3
15
4
26 business is built to focus on
High impact Low/No impact 24
UAE
16 KSA 21
12
RUSSIA 14
UKRAINE SOUTH AFRICA high density populated areas,
274
Medium
Sum of impact Difficult
High + Medium impact to assess 26 and this is how we get the best
High impact Low/No impact
1
16
4
3 12 3 14 3 4 return on our investment,”
Medium impact Difficult to assess
UAE
1 3
KSA RUSSIA
3 3
UKRAINE SOUTH AFRICA
4 Hafez said. “However, dur-
Sum of High + Medium impact UAE KSA RUSSIA UKRAINE SOUTH AFRICA ing the COVID-19 movement
Sum of High + Medium impact restriction period, our service
offering was no longer driven
h Based on your experience with by need for convenience, it be-
70 what is your 66 70 66 came an essential service and a
the business, 84 81 84 81
’ 86assessment of your customers’ 86 necessity. We were approached
purchase
Based frequency
on your experience DURING
with by government bodies to
70 66 ensure that the continuity
CHARTS COURTESY VISA’S COVID-19 CEMEA IMPACT TRACKER REPORT
thethis COVID-19
business, whatcrisis?
is your 84 81
assessment of your customers’ 86 7 7 and increased coverage of our
Based
purchase on your
Based experience
14your
frequency
on DURING
experience with
with 14 service. Given this new ‘mis-
70 66 66
the
this business, what
the business,
COVID-19
Decrease is your
what
crisis? is 9your 7 27 70
84849 81 81
7 27 sion,’ we looked at expanding
9
assessment 16
of your customers’ 869
86 16
assessment
5 Stable
of your customers’
7
Increase
12 5 7 12 7 our network coverage to ensure
purchase
UAE
frequency
purchase frequency
KSA
DURING
DURING UKRAINE
RUSSIA SOUTH
UAE AFRICA 14KSA RUSSIA UKRAINE SOUTH AFRICA that everyone has the option
this COVID-19
thisDecrease
COVID-19 crisis?
crisis? 7 27 of ordering their groceries
9 9 7 7
16 12 through el Grocer, rather than
Stable Increase 5 14
14 7
UAE KSA RUSSIA 7UKRAINE 27
SOUTH AFRICA risking their health to battle
Decrease 9 7 27
=151, ZA n=150)
Decrease
Base: Merchants
9
95 16
16 7
9 12 the crowds in the stores. We
Stable(UAE n=155, KSA n=157, RU n=173, UA n=151, ZA n=150)
Increase All figures are in % All figures are in %
Stable Increase 5 7 12 worked with our retailers to
UAE KSA RUSSIA UKRAINE SOUTH AFRICA
UAE KSA RUSSIA UKRAINE SOUTH AFRICA identify the gaps, and made
Base: Merchants (UAE n=155, KSA n=157, RU n=173, UA n=151, ZA n=150) All figures are in %
Base: Merchants (UAE n=155, KSA n=157, RU n=173, UA n=151, ZA n=150) All figures are in %
COVID-19
7 CEMEA Impact Tracker COVID-19 CEMEA Impact Tracker
28 / E N T RMerchants
Base: EPREN E Un=155,
(UAE R.CO Mn=157,
KSA / July 2020UA n=151, ZA n=150)
RU n=173, All figures are in %CATALYZING ONLINE COMMERCE | VISA’S COVID-19 CEMEA IMPACT TRACKER
sure that every town had at
least one retailer available to
order from. Our grocery mar-
ketplace was the first and only
online grocery business that
covered 100% of the UAE.”
GOING ONLINE
Another consequence of the GOES WELL
COVID-19 crisis is that it has
brought many new shoppers BEYOND
online. According to Visa’s
COVID-19 CEMEA Impact
OFFERING
Tracker, two-thirds of UAE
consumers (68%) and Saudi
A WEBSITE
consumers (66%) and 71% OR AN APP.”
of Kenyan consumers say that
COVID-19 has led to their first
online grocery shopping, while
70% of those surveyed in UAE
and 69% in Kenya are making
their first online purchases
from pharmacies. Plus, this
crisis has driven nearly two-
thirds of consumers in the UAE
(68%) and Saudi (66%) to do
their shopping online for the Raed Hafez, CEO, el Grocer
first time.
Another study showed why Commerce and Industry based for each country, the Dubai demographics. Our tech and
the UAE has been so well- off latest data from Euromoni- Chamber analysis revealed that service must be intuitive to all
equipped to handle this in- tor showed that the UAE’s the UAE adopting supportive users, no matter how comfort-
creased demand. A recent anal- e-commerce sector has been government initiatives, having able they are with technology
ysis by the Dubai Chamber of comparatively more success- modern infrastructure, and and digital services. Finally,
ful than in more than 38 other strengthening its evolving lo- ensuring that food and grocery
advanced and emerging market gistics sector have all contrib- supplies are available to all
WHEN ASKED TO ASSESS
THEIR CUSTOMERS’ PURCHASE economies. Comparing the per- uted towards building a strong citizens redefined our mission
FREQUENCY DURING THE COVID-19 centage of goods that are not supply chain and addressing and highlighted the need for
CRISIS, MERCHANTS ACROSS ALL
REGIONS REPORTED A DECREASE, in stock, levels of inventory for current e-commerce challenges business continuity planning
WITH THE UAE AND RUSSIA their major e-commerce plat- effectively. even for a startup like ours. We
SEEING THE HIGHEST DIPS AT
86% AND 84% RESPECTIVELY, forms, and daily percentage of In a nod to these stats, Hafez are now well connected with
AND SOUTH AFRICA THE LOWEST, stock keeping units that were pointed out that the future the authorities to deal with
WITH TWO-THIRDS (66%) OF
MERCHANTS RECORDING A marked as “goods not avail- grocery shopping missions will any new guidelines and regula-
DECREASE AND 27% SEEING AN able” on the retailer websites be driven by a mix of conveni- tions immediately.”
INCREASE IN CUSTOMER VISITS.
ence and reliability. “The cus- Apparently, merchants across
tomer will continue to demand the MENA region are following
top selections and variety of in el Grocer’s footsteps- more
products and offerings,” he than a third of merchants in
said. “However, the customer KSA (38%) reported that they
will also demand a high level of had acquired an e-commerce
dependability and consistency. platform as a direct result
Their purchasing is recurring, of COVID-19, while 93% of
and in order for el Grocer to merchants in Ukraine and 91%
earn and keep their trust, [it] of those in UAE had estab-
requires a service level that lished their platforms before
goes well beyond providing the the pandemic. A majority of
best pricing or promotions. merchants in all markets are
Further, our target customer optimistic that consumer use
is no longer just the digital of online services will grow
native. Our customers span all after the pandemic ends, with >>>
July 2020 / E N T R E P R E N E U R . C O M / 29START IT UP ECOSYSTEM
you are an existing business, to build customer loyalty. In
“FOR SMALL BUSINESSES LOOKING contactless payments will play fact, for a new small business,
TO GET BACK ON THEIR FEET, IT IS a major part in your return to
business. Understanding and
it is relatively easier to prior-
itize digital solutions across
IMPORTANT TO ADOPT AND EMBRACE planning for this is especially their supply chains, logistics,
NEW WAYS OF WORKING.” crucial for small businesses
in the region.” Furthermore,
e-commerce, and digital pay-
ments, as they are free of the
Visa’s COVID-19 CEMEA burden of legacy systems and
this conviction particularly ability to continue offering its Impact Tracker showed an processes.” In effect, the road
apparent in KSA, where 80% products and services must assumption that merchants ahead is clear: it’s time for all
of merchants predict an in- be consistent regardless if the who claim contactless will businesses to deploy a digital-
crease in use after the COVID customer is present physically increase in preference among first strategy.
crisis. or virtually at its premises. consumers, since contactless
However, Hafez advises all This must be well planned is gaining at the expense of
not to underestimate the work and executed across all cus- cash. In Saudi Arabia, 43% of
required for a business to go tomer touchpoints.” merchants said they have seen
online. “Going online goes Another important fact a decline in the use of cash,
well beyond offering a website that businesses cannot avoid, while 80% have witnessed a
or an app,” he said. “It’s a Baricordi says, are contact- rise in contactless.
complete set of activities less payments. Today, VISA In conclusion, Baricordi
and services that must work reports that more than half of advises that anyone look-
hand in hand seamlessly to the transactions in the UAE ing to set up shop in a post
provide a fluid and comfort- are contactless, while in Saudi COVID-19 era should bring
able service to the customer. Arabia that figure is even their A-game to online busi-
It’s important to partner with higher at 89%. “Amid social ness development to ensure
a professional service provider distancing guidelines, there’s business sustainability and THE EXECUTIVE SUMMARY
who can provide the full of- been a fast-growing demand longevity. “It is clearly evident MARCELLO BARICORDI,
fering including customer ac- for contactless payments on that small businesses which GROUP GENERAL
quisition, logistics, customer cards and on mobile phones, adopted digital solutions MANAGER – MENA, VISA
service and technology. Each because consumers prefer were the ones that were able Customer experience
industry got impacted differ- the speed and convenience to survive and thrive during matters “Small merchants
ently, and the lasting effect of it and trust its security the worst of the COVID-19 need to look at how to
will vary drastically from one features,” Baricordi said. “We lockdowns,” he said. “Inte- enhance their online
sector to another. However, can expect the popularity of grating digital solutions at avenues/e-commerce
one thing is common: digital contactless to be sustained the start allows for a seamless offerings to remain popular
transformation is no longer a and further increase post- introduction and consumer with regular customers, and
‘nice to have.’ The business’ pandemic. And therefore, if journey which is more likely acquire new ones too.”
Prioritize contactless
payments “Sellers that still
use cash on delivery as the
primary mode of payment
need to swiftly implement
a contactless consumer
journey to stay in the
game.”
Security shouldn’t be
"WITHOUT THE PANDEMIC,
THE ADVANTAGES OF ignored “With increased
‘MADE IN THE UNITED ARAB reliance on digital
EMIRATES’ MAY NOT HAVE commerce, cybercriminals
BEEN SO CONVINCING, have been preying on more
AND WE WOULDN’T BE vulnerable first-time online
LOOKING FORWARD TO THE
shoppers. And therefore,
WORLD OPENING UP AGAIN,
AND #MADEINUAE BEING making customers
PROMOTED TO A GLOBAL feel secure online and
AUDIENCE AT THIS PRIME educating them about safe
RETAIL LOCATION.” payment behavior is critical
Annabelle Fitzsimmons and to building trust in an
Anna Bolton-Riley, cofounders, e-commerce offering.”
Little Majilis
30 / E N T R E P R E N E U R . C O M / July 2020FOR THE MOST DARING LEADERS BNCPUBLISHING.NET MIDDLE EAST
‘TREPONOMICS PRO
Marking milestones
10 lessons from 10 years of running
a business in the Middle East b y S A M I R R A N AVAYA
M
y company, Innerspace, is best known as the team who
host Hacker Kitchens, Hulsta Furniture and Rolf-Benz in the
region, and we’ve just reached a major business milestone-
ten years of operations in the Middle East.
We opened our Hacker Kitchens showroom on Sheikh Zayed
Road in 2010, and with a vision of bringing excellence to the interiors
market, in terms of design and customer experience, we quickly grew in
both size and reputation. I’m proud to say we now have a robust team
of 35 people working across design and installation, working with the
region’s most renowned architects, interior designers and consumers.
Here are 10 lessons that I’ve learned from a decade of running a
successful business in the UAE:
IMAGES COURTESY INNERSPACE
Samir Ranavaya is the Managing Director of Innerspace. innerspaceme.com
32 / E N T R E P R E N E U R . C O M / July 2020MARKING MILESTONES | 10 LESSONS OF RUNNING A BUSINESS IN THE MIDDLE EAST
1/ AUTHENTICITY MATTERS
Innerspace is built on values such as qual-
ity, honesty, and authenticity. Building
trust through authenticity has always
been crucial: from the outset, we were
committed to creating a long-term, life-
long relationship with the brands we rep-
resent, with the region, and with our con-
sumers. Think about how we feel when
someone breaks a promise, or we are told
a lie, and we know just how highly we all
regard truth, honesty, integrity, and trans-
parency. Truth is an absolutely fundamen-
tal principle to be valued and protected
at all costs. Put simply, an authentic at-
titude is truth in action. Authenticity is
doing what we say, and saying what we
do, but the important piece of the puzzle
is we must do it with consistency. You re-
ally gain trust when you deliver on your
promises day in and day out. Ten years
of consistently delivering on promises to
our team and clients has really made us a
trusted brand.
2/ SHARE A CLEAR VISION
First and foremost, a clear vision for the
business is crucial- and it has to resonate
with your team, it’s our compass for this
enterprise. We quickly outgrew our initial
vision, which was to be the market leader-
so then what? It sounds cliché, but start
with the why- what positive impact do
you want to make on your family, your
wider family or organization, the commu-
nity, the industry, the world? This wider,
growing vision gave us the depth we need
to keep growing and getting through chal-
lenges too. Our vision is to shape creative
spaces with timeless designs, and most
importantly, enrich people’s lives through
excellent interior design. When it comes
to profit, we reframed it as benefits- we
want to maximize the benefits for our
team and clients alike. This is when it
really becomes fulfilling as a business
owner, you see how you are making a
positive impact on people’s lives, whether
it’s creating more security for staff, or an
inspiring environment for clients to cook,
enjoy, reflect, and entertain in. When we
break it down like this, we find a common
thread that drives us all in the same direc-
tion. I see profit as what good we’re all
getting out of it. >>>
The Concept team at Intelak Incubator
July 2020 / E N T R E P R E N E U R . C O M / 33You can also read
