Architect in telecom - Intelligent SME

TM 

Issue: 11 

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18 

A journey with an idea 

and a dream: 

Samir I. Abdul Hadi, 

Founder, SamTech Middle East 

20 

Architect in telecom 

Up close and personal with Osman Sultan, CEO, du, 

a visionary with extraordinary business acumen 

No.1 Platform for Small & Medium Enterprises 

Corporate partners 

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Contents 

December 2012 - January 2013 

20 

A visionary architect in telecom 

ISME got up close and personal with Osman Sultan, CEO, du, at the Emirates 

NBD Global Business Series. 

11 Rare & Fabulous 

High end luxury products for CEOs and decision makers. 

18 Innovation, excellence & determination 

Samir I. Abdul Hadi, founder of SamTech Middle East, shares his experience of 

establishing a business in the UAE. 

24 Announcements 

What has been happening in the business marketplace? Here are some updates that 

you might have missed.

28 A positive change for entrepreneurs 

Zia Hassan, co-founder of Entrepreneurs of Arabia, gave 

up a secure, comfortable job in the UK to give back to the 

entrepreneurial community in the Middle East. 

30 Pitching for a cause 

Loulou Khazen Baz, winner of The Entrepreneur reality 

television show organised by du, spoke to ISME recently 

on her experience on the show and her future plans for 

Nabbesh, her online venture. 

38 The ‘passport’ to European markets 

While exporting, product safety is a priority and can be 

ensured by CE marking, writes Dr. Sameer Kumar. 

40 The benefits of offshore banking 

The benefits extend far beyond the very wealthy - ranging 

from access to more innovative banking products to asset 

protection and anonymity, writes Rupert Connor. 

42 Being equipped to succeed 

Sandi Saksena outlines key measures for insuring a 

business against operational losses. 

46 Insights to grow your business 

Sometimes sheer common sense can give a marketing 

campaign the edge over others, writes Simon Hodges. 

48 Stand out or get out 

What makes a company rise 

above competition? Zed 

Ayesh urges businesses to 

differentiate themselves from 

industry peers. 

Alliance partners 

50 Your vital 3 seconds 

Phil Bedford gives you tips on opening up 

conversations and developing relationships. 

52 Getting started on the corporate 

governance journey 

John Merrigan outlines basic concepts of 

corporate governance. 

56 Making yourself ‘secure’ in the 

Middle East 

Living and working in the Middle East is a treat, 

but it could easily turn into a tragedy in the event of 

unexpected death, writes Nita Maru. 

58 Tribal tips for leaders 

Michael Tolan explains classic traits to guide a 

business leader through challenges. 

82 The many hues of entrepreneurs 

Utpal Bhattacharya notes that it is not necessary for 

a successful businessman to be a team player. He 

needs good instincts, though. 

Supported by 

Be a Connector

Editor’s Note 

Recently we bore witness to the launch of Connect the 

Dots, a business playbook by our writer John Lincoln, 

VP- Marketing (Enterprise Segment) at du. The 

publication is a practical guide to doing business, and refers 

to many aspects of running a business. 

SMEs are finding a lot more attention amongst experts, 

policy makers and, now, even among financial institutions 

that would not take them seriously a few years back. Sharjah 

Islamic Bank’s allocation of AED1 billion towards SME 

companies under the Ruwad Establishment is more likely than 

not indicative of a trend that SMEs are becoming ever more 

acceptable as a business partner. Among many other reasons, 

SMEs have a much higher rate of growth than the bigger 

companies. 

At a Dubai Chamber of Commerce and Industry seminar 

we were informed that the proposed SME law will be 

submitted to the Federal National Council soon. This was 

endorsed by the Cabinet. Once the law is in place, the UAE 

will attract many more global investors. In addition, the Dubai 

SME 100 initiative has created significant awareness amongst 

all the stakeholders in the country about what SMEs bring to 

the economy, and today, entrepreneurship is a buzz word that 

everybody wants to hear. It is heartening to note that many 

of the companies we have known in the course of the Dubai 

SME 100 are now receiving so much exposure and accolades 

at various forums and platforms. 

While on the topic of entrepreneurship, ISME recently 

held its first two sessions of the Emirates NBD Global Business 

Series. We would like to thank our chief guests Yogesh Mehta, 

MD, Petrochem Middle East and Osman Sultan, CEO, du, for 

their insights. The interactive sessions with these two leaders 

revealed poignant memories, while establishing that only pure 

passion for one’s work can lead people to success. Through 

these sessions, we hope to inspire other entrepreneurs with 

practical insights that will guide them on their journey. 

On a separate note, it gives us much pleasure to announce 

our plans for the New Year. We have two new magazines 

coming up and this has been a cause for much excitement. We 

look forward to giving you more useful content. Give us your 

feedback on what topics you would like covered and which 

personalities you would like to meet. 

We wish you all a happy, healthy and prosperous 

beginning to the next year. 

Sandhya Divakaran 

editor@theintelligentsme.com. 

Chief Executive Officer 

& Publisher 

Shantanu A.P 

Account Director 

Vijay G. 

Editor 

Sandhya Divakaran 

Consulting Editor 

Utpal Bhattacharya 

Expert Contributors 

Anesh Jagtiani 

Craig Hewett 

John Merrigan 

Michael J. Tolan 

Nita Maru 

Phil Bedford 

Rupert Connor 

Sameer Kumar 

Samir I. Abdul Hadi 

Sandi Saksena 

Simon Hodges 

V. Ramkumar 

Zed Ayesh 

Art Director 

Aneesh Varghese 

Photographer 

Arzai Zafar 

Editorial Enquiries & Contributions 

Tel: 04-2659704, 04-2650312 

Fax: 04-2690566 

E-mail: editor@theintelligentsme.com 

Advertising Enquiries 

Tel: 04-2659704, 04-2650312 

E-mail: response@spiholding.net 

Subscription Enquiries 

Tel: 04-2659704, 04-2650312 


Response Executive 

Evelyn V. Bernasol 

SPI Publishing 

P.O. Box: 89735, Dubai, UAE 

Tel: 04-2659704, 04-2650312 

Fax: 04-2690566, 04-2651708 


Disclaimer: SPI Publishing has endeavoured to bring out a publication that is reliable and informative. 

This is true to the best of our knowledge. The opinions presented are those of individual writers and 

not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright 

law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced 

or republished for any commercial purpose or financial gain. 

www.theintelligentsme.com 

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12




Exclusive 

jewellery 

parure for 

the UAE 

The Italian master jewellery designer 

Roberto Coin, famous for his 

bespoke designs, launched an 

exquisite one-of-a-kind jewellery parure to 

the Gulf. The signature set, which consists 

of a matched collar, bracelet, earrings and 

ring, was unveiled during a preview event 

organized recently by Damas Jewellery, 

retailers of Roberto Coin in the UAE. 

The special parure, which is part of the 

Mauresque Collection, is made up of a 

3.21 ct collar set with 60 individual 

diamonds, a 6 ct bracelet with 110 stones, 

earrings set with a total of 22 stones and a 

1.03 ct ring studded with a total of 

20 diamonds. 

Roberto Coin’s highly-sought after 

creations are extremely popular among 

the discerning clientele for fine jewellery 

throughout the Arab World. The collections 

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Venice, Rome, Prague, Baku and Moscow. 

Roberto Coin jewellery is revered 

around the world and is known for 

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13




Revolutionising digital technology 

Alpha 

SLT-A99 

NEX- 5R 

Sony, recently unveiled three of 

its latest cameras: the Alpha 

SLT-A99, the NEX-5R and 

the NEX-6. Hiroyasu Sugiyama, 

managing director, Sony Middle East 

and Africa, said: “The new Alpha A99 

camera is the ultimate combination 

of Sony’s expertise and rich history 

of image sensor production coupled 

with our truly innovative approach to 

camera design. It redefines what can be 

accomplished with a full frame 

professional camera.” 

The successor to the 

flagship Sony Alpha A900 

DSLR, the new A99 is the 

first camera with Translucent 

Mirror Technology 

from Sony to feature a 

full-frame 35mm image 

sensor. Translucent Mirror 

Technology is an innovative 

optical system that opens 

up dramatic new shooting 

possibilities such as high 

speed shooting and quick 

auto-focus. 

The A99 also debuts an advanced 

new AF-D continuous autofocus 

mode that is supremely effective with 

moving subjects. The 19-point AF 

system provides reliable depth focusing 

information. It is complemented 

by the 102-point multi-point focal 

plane phase-detection AF sensor to 

seamlessly manage subjects traversing 

the focal plane. 

Packing the imaging quality and 

responses of a DSLR into compact 

mirror-less camera, the NEX-5R and 

NEX-6 offer the benefits of DSLRquality 

imaging with less to carry. Both 

the models feature a resolution of 16.1 

megapixels, an APS-C image sensor 

in the ultra-compact body and a new, 

fast, hybrid autofocus system, enabling 

users to catch precious moments in 

DSLR quality. 

In a first for compact 

interchangeable lens cameras by Sony, 

Fast Hybrid Auto Focus (AF) combines 

phase and contrast detection autofocus 

methods to suit the demands of any 

shooting situation. The NEX-5R, A99 

and NEX-6 feature built-in Wi-Fi 

support for transferring photos directly 

to smartphones and tablet PCs. 

All three models, the Alpha 

SLT-A99, the NEX-5R and the 

NEX-6 will be available across Jumbo 

Electronics showrooms and other 

leading electronics retailers in the 

UAE. 

14

Performance worth an encore 

Excellence in performance, 

comfort, luxury and styling have 

come together seamlessly in the 

2013 Lexus GS to provide exhilaration 

like never before. 

The new model delivers 

sophisticated refinement and leading 

edge innovation that has set the 

benchmark for all future performance 

luxury sedans. The Lexus GS is built 

to reflect the Lexus philosophy. The 

combination is one of world-class 

luxury, evocative design and highly 

innovative technology. This car 

continues to challenge the dynamics of 

the existing mid-size luxury automotive 

segment. 

The GS was engineered for 

responsive power and superior 

handling. Be it the GS 250, the GS350, 

the performance-tuned F SPORT, 

or the GS 450h F SPORT hybrid, 

Lexus GS is the result of the pursuit of 

perfection. Designers of the GS were 

inspired by the Lexus LFA supercar 

to create a high-performance, driver 

focused vehicle with precision and 

purpose. Al-Futtaim Motors offers 




Lexus GS in 2.5L and 3.5L engine 

variants as well as the GS 450h that 

incorporates the advanced Lexus 

Hybrid Drive. 

The V6 2.5L vehicle offers an 

output of 207hp, the 3.5L V6 GS 

delivers 312hp and the F SPORT hybrid 

delivers a total system output 

of 340hp. 

The hybrid model is powered by a 

newly developed 3.5-litre V6 Atkinson 

cycle petrol engine with a two-motor 

hybrid system that makes it a front 

engine rear-wheel drive vehicle. 

15




4-inch Retina display 

Ultrafast wireless technology 

A6 chip 

iOS6 

8 mp iSight camera 

More Siri features 

Maps App 

Thinnest 

smartphone 

in the world 

Apple iPhone 5 is completely 

redesigned from its predecessor, the 

i Phone 4S, to feature a new 4-inch 

Retina display; an Apple-designed A6 chip 

for fast performance; and ultrafast wireless 

technology—all while delivering even better 

battery life. iPhone 5 comes with iOS 6, with 

over 200 new features including: the all new 

Maps app with Apple-designed cartography 

and turn-by-turn navigation; Facebook 

integration; Passbook organisation; and even 

more Siri features and languages. 

Designed with precision, iPhone 5 

combines an anodized aluminum body with 

diamond cut chamfered edges and glass inlays 

for a truly incredible fit and finish. 

The all-new A6 chip was designed by 

Apple to maximise performance and power 

efficiency to support all the incredible new 

features in iPhone 5, including the stunning 

new 4-inch Retina display—all while 

delivering even better battery life. With up 

to twice the CPU and graphics performance, 

almost everything you do on iPhone 5 is 

blazing fast for launching apps, loading web 

pages and downloading email attachments. 

The new 8 megapixel iSight camera 

is redesigned with incredible optical 

performance, yet amazingly, it is 25 per cent 

smaller than the camera in iPhone 4S. 

iPhone 5 comes in either white and silver 

or black and slate, and is available with 

Etisalat and du networks in various prepaid 

and postpaid options. 

16



Open Forum 

Innovation, 

excellence & 

determination 

Samir I. Abdul Hadi, founder of SamTech 

Middle East, shares his experience of 

establishing a business in the UAE. 

My entrepreneurial 

journey began 35 years 

ago in another country. 

Therefore, I am not an 

entrepreneur who set up a business and 

immediately rose to success. I have had 

my share of trials, beginning with my 

first company that introduced 

computer technology and 

telecommunication services to the 

Occupied Palestinian Territory. 

However, this business was short 

lived owing to political instability, 

as a result of which I had to close the 

company and leave the country, which 

was when I came to the UAE. I was 

determined to start all over again, 

prepared to take the risk, having had 

the right experience, and nothing but a 

dream and an idea to serve 

the community. 

So at the age of 46, in 2003 I 

established SamTech Middle East. I 

believed in the uniqueness of my idea 

- a new technology - which was a GPS 

tracking system and fleet management 

solution, quite like the ones in the 

James Bond movies. Being new, it was 

all the more difficult to educate the 

18



Open Forum 

community and make them understand 

the benefits. 

Hiring process 

My first target after setting up the 

company was to find the right staff 

members to join me in this journey. I 

think, this is one of the critical stages of 

being an entrepreneur, because finding 

employees who have the same passion, 

determination to grow, and courage to 

help one build a dream into an empire is 

not easy. But I was lucky in finding the 

right people at the right time. 

More importantly, an entrepreneur 

requires self-motivation. Being your 

own boss is entirely a different side of 

the coin, when compared to a salaried 

employee who gets to go home and 

relax at the end of his or her work day. 

Entrepreneurs are different, we need 

to be persistent to see that our dream is 

coming true and believe that this dream 

is sustained for years to come. So we 

set our priorities right and focus on 

the goal, and while achieving this goal 

However, the banking system needs to be 

improved, and this is something most SMEs 

will agree on. We need far more support 

than offered at present in terms of funding a 

business. 

we enter this journey that positively 

changes who we are. 

Accolades 

This mindset has affected the way 

we function as an organisation and 

SamTech is now in the path of growth, 

achieving accolades all the way. The 

year 2010 was our golden year, a time 

of many professional accomplishments. 

But the best moment arrived in 2011 

when we were ranked 18 in the Dubai 

SME 100 list. 

Concentrating on the values and 

beliefs that are core to the company is 

what differentiates us from 

our competitors. Attuning 

our personal beliefs with 

these values and aligning 

these with the interests of a 

team will help a company 

to grow. Conveying 

passion, determination, 

and persistence to the team 

will create an environment 

and work culture that will 

help the company excel and 

focus on quality service for 

the customer. 

I would have to say, 

I love being an entrepreneur 

and running my own 

company. It gives me a 

reason to wake up every 

morning, because I enjoy 

helping the community. My 

company offers a smart, 

green solution to control 

vehicle usage and, thereby, 

reduces fuel consumption 

and pollution. 

Values 

My mother once 

told me, “A quitter is 

a loser…stand up and 

continue in your path” and instilled in 

me a sense of responsibility to never 

give up, in spite of my abilities. I have 

never forgotten these words and use 

them as my motivation. My father was 

the one who taught me commitment, 

courage and a positive attitude towards 

life. They have been my value system 

and made me what I am today. 

Learning 

As an entrepreneur who has learned 

the hard way, I believe some key points 

would be helpful when trying to run 

a successful business: it is important 

to define stakeholders. Stakeholders 

are the company’s assets, and it is 

important to understand their needs in 

order to deliver value. Ultimately the 

goal is to have satisfied customers who 

sustain the demand, satisfied employees 

who drive the company to excellence, 

and satisfied suppliers who help serve 

customers better. 

Budding entrepreneurs should 

know that Dubai is a business hub with 

comprehensive rules and regulations 

that help a business thrive. The 

government has been much focused 

on innovation and entrepreneurship 

and as SMEs in Dubai, we are proud 

to be here. I’m privileged in finding 

a home away from home, and feel 

like any other citizen here with rights 

to own, trade and build a company. 

However, the banking system needs 

to be improved, and this is something 

most SMEs will agree on. We need far 

more support than offered at present 

in terms of funding a business. As 

contributors to the economy we need to 

be supported. And we strive harder than 

ever, trying to bring about a change. 

An SME’s journey, therefore, 

is one of innovation, excellence and 

determination. 

19



Meet the CEO 

Tariq: Who had the most impact 

in your formative years? Anything 

interesting or just a normal youth? 

Osman: When you grow up in a 

country like Lebanon and you see what 

happened in that country, you cannot 

remain the same person. All other 

things would be PR talks but certainly, 

when I was at the age of 15 and the 

civil war took place. Life started to 

change radically for me because it took 

me through a different journey than 

the one that I had planned. I would 

consider this a fundamental event in my 

transformation. 

Tariq: So how did it define you? Did it 

make you more bold or creative in your 

approach, because you left a war-torn 

country and you moved to France? And 

then you went to university. What were 

your emotions then? 

A visionary architect 

in telecom 

Intelligent SME got up close and personal with 

Osman Sultan, CEO, du, at the Emirates NBD 

Global Business Series. Here’s an excerpt of 

the interactive session* moderated by Tariq 

Qureishy, CEO, Vantage Holdings. 

Osman: I think it started with teaching 

me what one would call “crossing 

borders.” And that, in my life, has been 

something very important. It teaches 

one to start trying to understand the 

“other” especially during dramatic 

conditions. And this follows me, 

because every time I am in a business 

discussion or meeting with a team with 

different opinions, I develop this way 

of thinking: why is he thinking like 

this? Where is he coming from? Then 

I figure out how to bridge things. It can 

happen at the level of a discussion with 

two executives, but it can also happen 

at a more vital, or fundamental level. 

And this way of structuring things 

probably started when I was 15. 

Tariq: What are the disappointments 

in your early days, and if you lived 

your life again, what would you do 

differently? 

Osman: I come from a very 

conventional environment. My father 

is a banker, he worked in a bank all his 

life. My mother is a housewife and is 

very traditional. I was raised to think 

of things in a traditional way. And at 

that time probably, I was supposed to 

follow a path in terms of education, 

20 

* Get the full transcript at www.theintelligentsme.com



Meet the CEO 

and I thought of taking up philosophy 

or poetry, things that I am passionate 

about. And then the civil war happened. 

So I thought I had to become an 

engineer. I had what it took to become 

one as well. But at some point I realised 

that I would never work as an engineer. 

So I am an engineer by accident and 

that is what I consider a waste. I studied 

this without passion. 

Tariq: In terms of relationships and 

communication between parents and 

children, everything is changing and 

you are at the helm of this. What is 

your opinion? 

Osman: I want to give an example 

for this. My son Salim, when he was 

seven years old, was asking his mom 

the usual general knowledge questions 

that children ask. And his mom was 

busy with lot of other things, and all 

of a sudden I heard him say, “I will 

just discover it, I will just google it.” 

I believe, this is changing the scheme 

or pattern of learning, because when 

we were younger, we learn from the 

parent or from the teacher in school or 

from our mentors and professors. And 

authority is built on that. So, not only 

is this a paradigm shift in scheme of 

knowledge, this is the first time in the 

history of humanity, where the younger 

generation is more knowledgeable than 

the older one. And I believe in this. We 

need to embrace this new mindset. 

Tariq: You had a great opportunity 

when you were at France Telecom, and 

you joined Mobinil. What insights do 

you have for the people, especially the 

CEOs here, to take the bull by the horn 

when you do get a nice break? 

Osman: Actually, Mobinil was not an 

accident, as this time I was stubborn. 

When I was at France Telecom, 

we were preparing with experts on 

business planning, and back in 1997, 

these guys predicted that the number of 

users of mobile phones in a country like 

Egypt with a population of 80 million 

people, would be after 10 years of 

business planning, seven million people 

- a penetration rate of eight per cent. 

A brand is everything that a company breathes. 

I looked around me, even in Lebanon 

and Europe, where mobile phones were 

not really in use by everyone, and I was 

standing in the street and next to me 

there was nothing at the time. Suddenly 

a phone rings, and it wasn’t mine. This 

was in 1996, and there was this guy who 

was a shoe shiner, who opened a drawer 

in his supply box and took a phone and 

said “Hello.” So how can we make the 

relation between the ability to pay, or 

the purchasing power of the masses? 

So I came away realising that this is 

a phenomenon that will be prevalent 

everywhere. I said, “A mobile in the 

hand of everyone.” That phrase was the 

turning point for the mobile industry in 

the Middle East. That was probably one 

of the most accurate things on which 

I built an entire vision and I delivered 

on that. 

Tariq: What is your working style? 

Are you like Naguib Sawiris? 

Osman: Naguib Sawiris is a warrior. 

I’m not a warrior, I’m an architect. 

People have styles. Some people, the 

way they are, they’re all warriors. They 

go there, they want to win the battle. 

Sometimes, not having a battle is better 

than winning a battle. Very often, there 

are architects like me who sit and think 

of the system. 

Tariq: To take a quote from 

Dr. Marshall Goldsmith (who’s here), 

"what got you here, won’t get you 

there." Whatever you learnt in the 

past 25 years in Mobinil and France 

Telecom is probably not going to help 

you and get you into the future. 

Osman: I totally agree. Today I’m 

convinced that if we think even in the 

mindset of telecom in this digital space, 

we will lose. 

Tariq: That was my follow-up 

question because the telecom 

companies are being marginalised, 

basically becoming dumb pipes, and do 

you consider this a big threat? 

Osman: We need to think differently 

because our brands are at the risk of 

being more and more irrelevant. In 

European markets we can see brands 

that started 16-17 years ago, the phase 

of the internet that I call the knowledge 

phase. The search engines - Google, 

Yahoo - and we started to use the 

Internet like we go to the library. Then 

we began to use the Internet like we go 

to a shop and this is the transactional 

phase. Today we use the Internet like 

we go to a café. This mindset is making 

sites like Facebook that did not exist 

six to seven years ago relevant. They 

have changed history in the Arab world 

radically. So the process of changing 

history is also changing. 

Our generation knew of a world 

without mobiles and Internet. The 

new generation is born with both. 

I’m fascinated by this, and I consider 

myself so privileged because everyday 

I can discover something and learn 

something new. That’s really a blessing. 

Tariq: So you have Apple, Google, 

Facebook and Twitter here, enjoying 

the profits and you’re providing the 

networks, the pipes. What action are 

you taking against this? 

Osman: I will tell them, quoting 

a beautiful sentence, what got you 

here, will not get you there. Because 

I believe that they will have to go in 

for a different business model. The 

business model will change like ours 

certainly will. We talk about the ICT 

companies, but everything is becoming 

digital. You asked me what needs to 

be changed. Let me ask all of you - did 

any of your children ever tell you that 

they wanted to go to the du store or the 

etisalat store? They will tell you about 

Magic Planet, or the Virgin Megastore. 

I call this the dentist syndrome. You go 

to these shops only if you have to. The 

21



Meet the CEO 

expectation is hoping that this will be 

as painless as possible, exactly how you 

go to the dentist. I would love to see 

children nag their parents to take them 

to the du store. My responsibility is to 

think how to make this happen. 

Tariq: In an article in Kipp Report you 

mentioned that you would like to create 

the equivalent of a pan-Arab Facebook. 

That’s an interesting challenge. Your 

thoughts? 

Osman: Let me use a metaphor. You 

said “dumb pipeline” and we telcos use 

another word. We built roads in the 

beginning. And how do we charge? 

By time and distance. We all know the 

time where if one spoke more, one had 

to pay more. And if you speak longer 

distance, you pay more. 

And we have cars to take them to 

big shopping centres called YouTube 

or Facebook. And they start doing 

things. They walk in the mall, see ads, 

and advertisers are paying Google 

because they bring the customer. So 

they come out with big shopping bags 

and tell me, the telco, that the bus that 

we have built is not big enough, that 

it has to be bigger. So I’m paying the 

money for the infrastructure, and the 

extra revenue is not coming back to me. 

I quote Sunil Mittal, owner and founder 

of Bharti Telcom, “We can’t share their 

gain, and they don’t want to share 

our pain.” Why can’t we be the ones to 

build the mall? The problem is scale. 

An advertiser will not discuss with 

du, Etisalat, 

Mobily etc 

a campaign 

for the young 

Arab world. 

Why can’t 

we create an 

entity just in 

the digital 

space where 

we all lay 

out the pipes 

intelligently, 

each keeping 

his or her 

assets where 

we create a MENA digital platform? 

That’s the dream I have. 

Tariq: Now let’s move to your current 

role and your current job. You had to 

start from a clean sheet of paper and no 

incumbent operator there to lean on. 

What possessed you to take this job? 

Osman: I was thinking of the late days 

in Mobinil where I asked myself, what 

is the next phase? And I had some ideas 

about different dimensions of mobility 

and I was talking about this. I came 

here in late 2002,with my wife for a 

conference where I gave the keynote 

speech. When we were leaving, I 

believe I told her, “I could live and 

enjoy this country.” 

The second thing was something I 

wrote on a piece of paper - three unique 

characteristics of this venture - one, the 

launch of a second operator in a country 

with more than 100 per cent penetration 

was unheard of anywhere. Two, that 

no start-up had started on all fronts 

such as fixed line, mobile, internet, 

broadcasting, etc. Third, 

there was no start-up that had set up 

shop without the backing of an 

existing operator. 

Building a mega brand today is 

different. You collect data on your 

customers, their usage, and so on. If 

you want my advice, I’m more and 

more convinced that you need to know 

and monitor what your users and others 

are saying on their social network about 

you. This is how your brand is going 

to live. Consumers today don’t want to 

hear from us. It’s much more powerful 

when they hear it from their circle on 

Facebook or Twitter. This is now your 

new adviser - your peers. And we need 

to build in our DNA now this new 

medium that is happening. 

Tariq: I read your nine-month report 

and it spoke of operational efficiency. 

Don’t you want to talk about vision? 

Osman: I have a mandate to my 

shareholders. Operational efficiency 

doesn’t necessarily mean that I am 

doing this process and it cost me 10, 

and I need to make it cost less. It’s 

thinking the entire process. In this 

digital space, do I need this process, or 

is there a way for me to do it differently. 

And then if I say, this customer has 

asked for something at the shop and 

it’s complicated, is there a way by 

simplifying the life of this person - 

between online, and between processes, 

I gain efficiency. 

Tariq: What is your core philosophy of 

leadership? 

Osman: There are types of leadership. 

There is leadership by authority - you 

see styles of a leader who is more 

authoritative. There is leadership by 

consensus, and leadership by what I 

call adherence. I did not have the choice 

of making it by consensus because I 

was in a start-up. And I discovered 

that is not even my temperament. 

And obviously, my character is that 

of a story teller, so it makes it easier 

start with, “Guys, let me tell you this 

story…” The recipe is that I really care 

about people. Sometimes, too much, 

in the sense that I care about people. 

When you are a CEO, you can’t leave 

anything, you have to handle it all. And 

few things I have focused my attention 

on, are the image of the company, the 

brand, and the culture of the company, 

and the people. People imagine that 

brand is a campaign or a logo, or 

colours, a jingle or a slogan. A brand 

is everything that a company breathes. 

When one of my employees is talking 

about vision of the company, that is the 

mindset that we want. 

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Announcements 

Global Entrepreneurship Summit opens in Dubai 

His Highness Sheikh 

Mohammed Bin Rashid Al 

Maktoum inaugurated the third 

Global Entrepreneurship Summit - 

Entrepreneurial Ventures of Arabia at 

the World Trade Centre in Dubai. 

In his address, he advised 

entrepreneurs to believe in the pillars 

of creativity and innovation. He added 

that the GDP of the country has doubled 

Souq.com gets second 

round of funding 

Online retailer Souq.com announced a new 

round of investment from Naspers Limited and 

Tiger Global. The South African multinational 

media and internet group Naspers joins existing 

investors Tiger Global and Jabbar Internet Group 

through a minority interest. 

With eight million unique visits per month and a 

customer base of 3.5 million covering the UAE, Saudi 

Arabia, Egypt and Kuwait, Souq.com is the largest 

e-commerce site in the MENA region, offering a 

mixed model of retail and marketplace. The funding 

will support the growth of the Souq.com group of 

companies, which includes souq.com, sukar.com and 

run2sport.com, as well as their expansion into regional 

markets. 

“We will use the capital from this investment to 

offer our customers even more choice with a best in 

class online shopping experience, expanding into new 

categories such as Fashion and Lifestyle and opening 

our own logistics centres in the UAE, Saudi Arabia and 

Egypt”, said Ronaldo Mouchawar, CEO of Souq.com. 

Samih Toukan, chairman and CEO at Jabbar 

Internet Group, the group of leading internet sites and 

web properties in the Middle East and North Africa, 

commented: “This funding is a major milestone for 

e-commerce in the region, and is the most significant 

investment of its kind in the Arab world since Yahoo! 

acquired Maktoob in 2009.” 

due to courage and leadership 

and remembered the efforts of 

the founders of the country, 

the late Sheikh Zayed Bin 

Sultan Al Nahyan and the 

late Shaikh Rashid Bin Saeed 

Al Maktoum, in building the 

nation. 

He highlighted that UAE is 

a centre for creativity and innovation 

on the regional and global levels and 

provides the ideal environment. The 

Arab youth can benefit from this, 

develop their talent and exploit their 

energy and use it to serve the goals and 

objectives of their respective countries, 

he added. 

The inaugural ceremony saw 

the presence of Crown Prince of 

Dubai Shaikh Hamdan Bin Mohammad 

Bin Rashid Al Maktoum, Deputy 

Ruler of Dubai Shaikh Maktoum Bin 

Mohammad Bin Rashid Al Maktoum, 

UAE foreign minister Shaikh Abdullah 

Bin Zayed Al Nahyan, minister of 

higher education and scientific research 

Shaikh Nahyan Bin Mubarak Al 

Nahyan, deputy minister of presidential 

affairs Ahmad Juma Al Za’abi, and a 

number of ministers, senior officials 

and business leaders. 

US president Barack Obama 

participated in the event through a 

televised statement on the importance 

of encouraging initiative and 

entrepreneurship in the region. 

Zomato expands reach in 

the Middle East 

Zomato, a restaurant and nightlife guide which had entered the 

Middle East market with its Dubai section has now expanded 

its reach with the launch of its services in Abu Dhabi and 

Sharjah. 

Providing in-depth information on over 6,500 restaurants 

across the three cities, Zomato has become an extensive restaurant 

discovery platform for anyone looking to eat out or get food 

delivered. Zomato’s biggest strength is that it provides scanned 

menus, photos and coordinates for most of the restaurants listed in 

the three cities. Users can also explore or search for restaurants in 

their city through the Zomato app, which is available for free across 

all major smartphone platforms - WindowsPhone, BlackBerry, iOS, 

Android and others (zomato.com/mobile). 

Albinder Dhindsa, head of International Expansion, Zomato 

said “We launched our Dubai section last month and have received a 

phenomenal response so far. In a short span of one month, we have 

over 5,000 users visiting Zomato Dubai every day to decide where 

to eat out or order from. This response has further strengthened our 

belief that there is a huge need of Zomato’s services in the entire 

Middle East and we are looking forward to a successful launch of our 

Abu Dhabi and Sharjah sections.” 

24

SME Evolution Program woos over 4000 

participants 

Potential.com, an international 

business consultancy, announced 

that its SME Evolution Program 

is gaining more recognition as over 

4000 participants from 29 countries 

have joined the program so far. 

The free program has become a 

great tool for business owners and a 

one stop shop for their development, 

funding and business needs. 

Potential.com also announced that 

the new edition of its SME Evolution 

Program, due to kick off with a series 

of webinars, will oversee new features 

that will enhance overall experience. 

One of the key new features is the 

advanced mobile application, which 

allows members to access webinars 

from their Apple iOS mobile devices. 

Commenting on the launch of the 

new edition of the SME Evolution 

7 new categories in 

YBL Awards 

Program, Shadi Banna, managing 

partner, Potential.com, said: “The 

launch of our new SME Evolution 

Program confirms our commitment 

to providing a platform which will 

take SMEs to higher levels. We are 

delighted to see that many SMEs are 

benefiting from our program and we 

are confident that the new features will 

provide further resources to support 

their expansion.” 

The new SME Evolution Program 

will also feature a new content 

methodology and will allow SMEs and 

partners to promote their products and 

services on an online platform through 

the website’s new marketplace feature, 

which was recently launched. This 

feature is one of the Resources online 

platform components that Potential. 

com offers to its members. 



Announcements 

Shadi Banna, 

Managing partner, Potential.com 

UAE is No.1 in ease of 

starting business 

Dubai SME, the agency of the Department of Economic 

Development mandated to develop the SME sector, 

has introduced seven new categories for the UAE and 

Arab world to the ‘Mohammed Bin Rashid Award for Young 

Business Leaders’ (YBL), thus taking the total number of 

award categories to 27. 

The new categories were added to build on the success 

achieved by the YBL Award since its inception in 2003, and 

in view of its growing popularity among local and regional 

entrepreneurs as well as its role in supporting the SME sector. 

The new categories for the Arab World awards 

include Best Higher Education Institution Promoting 

Entrepreneurship, Best Mentor Network, Best 

Entrepreneurship Development Fund for Women, 

Best Entrepreneurship Development Fund, Most 

SME-Friendly Bank, Best Corporate Social Responsibility 

Initiative in Entrepreneurship Development and Best 

Organisation Supporting SME Initiatives. 

The entrepreneurial awards for UAE SMEs are in the 

Manufacturing, Services, Trading, Home-based Business in 

Dubai (Intelaq) and the Entrepreneurial Personality of the 

Year (male and female) categories. 

The UAE improved its ranking in the Doing 

Business Report 2013 of the World Bank to 26 

among 183 countries, from 33 in 2012, and stood 

second behind Saudi Arabia in the region. The country 

was also ranked 22 globally, compared to 46 in 2012, 

and first in the Arab world in ease of starting a business 

in 2013. 

The report relies on 10 key indicators, including 

the ease of starting a business. Business start-up in 

Dubai has witnessed steady growth during the past 

consecutive two years due to the various landmark 

initiatives progressively being launched by DED. 

Sami Al Qamzi, director general of DED, said: “I 

thank His Highness Sheikh Mohammed Bin Rashid 

Al Maktoum for his trust in DED and his directives 

to enhance the business environment in Dubai. The 

Business Registration and Licensing sector is one 

of the main sectors in DED that provides varied 

services for the business community, and it actively 

contributes to enhancing the ease of starting a business 

in coordination with the Emirates Competitiveness 

Council and the authorities confirmed in Dubai.” 

25



SME Development 

A positive change for 

entrepreneurs 

Zia Hassan, co-founder of Entrepreneurs of Arabia, is an entrepreneur 

himself. Having worked as a consultant for SAP over the last 10 years, 

he finally decided to give up a secure, comfortable full-time job in order 

to give back to the entrepreneurial community. An ISME report. 

An MBA holder from 

Cass Business School 

London, Zia Hassan set up 

Entrepreneurs of Arabia 

along with his MBA classmate and 

friend Tariq Al Najjar in 2011. His first 

experience of working with young 

entrepreneurs was in his previous 

company where he led an initiative to 

bring young Arab nationals into the 

private sector. 

With a burning desire to do more 

to bring about entrepreneurship and 

create jobs for young people, Zia 

came to the Middle East and set about 

facilitating entrepreneurs with mentors 

and investors. Entrepreneurs of Arabia 

connects entrepreneurs with investors 

and mentors and advises on business 

ideas/plans. ISME recently spoke to 

Zia Hassan. Below is an excerpt of the 

discussion. 

ISME: How has the platform of 

Entrepreneurs of Arabia evolved? 

ZH: Getting the business off the 

ground has been pretty straight forward 

as the case for Entrepreneurship and 

Youth employment has been top 

of every country’s agenda here in 

the Middle East. In the beginning, 

planning and setting up the business 

was straightforward because there is 

no need to convince young people to 

take up entrepreneurship. Even the 

government has focused on innovation 

and private ownership in order to 

create more jobs. During last few 

months as the business and time has 

evolved, it has become evidently clear 

that business plans also require an 

evolution. 

Due to dynamic and rapid changes 

across the MENA region and the UAE, 

business plans are also evolving due 

to maturity changes in the financial, 

legal and commercial spheres. This 

ultimately means that entrepreneurs 

need a leaner and more flexible 

business plan / idea to keep pace with 

changes in the business climate. 

However, in my experience, 

business plans keep changing. This 

could be due to market trends, changes 

in financial conditions or legal climate. 

Therefore, a business plan might seem 

out of date after six months. 

Our platform has also evolved- we 

now offer a number of services. We’ve 

seen there is a need to help young 

entrepreneurs with their business 

plans by telling them how to pitch 

their idea. A lot of banks are rejecting 

loan applications, as proposals are not 

clear enough. Many entrepreneurs 

get bogged down by the finer details 

28



SME Development 

in their business plans. If one can’t 

communicate an idea in a manner that 

indicates commercial viability, then 

there’s no point making a business plan. 

So, over the years, we have introduced 

additional services for these areas to 

help entrepreneurs. 

We’re also now in a partnership 

with Dubai Silicon Oasis Authority and 

Dubai University. According to our 

agreement, we will provide 

high-quality entrepreneurs to the 

incubation centres of these institutions. 

They will be screened and filtered 

rigorously by us. The entrepreneurs in 

turn will receive incubation services. 

ISME: How do you ensure that 

entrepreneurs are not disappointed? 

ZH: We get numerous ideas on a 

daily basis. We try not to discourage 

an entrepreneur’s spirit. If the idea 

is not good, we advocate a variation 

of an original idea to see that it is 

commercially and economically viable. 

We don’t de-motivate entrepreneurs 

because they need that spark, and we 

don’t want to kill that. Ideas are wide 

ranging - from food to technology, but 

mostly conventional ideas. Most ideas 

are localised, they conform to 

local aspects. 

We help anybody who has a 

genuine and great idea. We don’t have a 

criterion to judge, and we only request 

entrepreneurs to come with an idea that 

is thoroughly thought out. We screen 

investors and entrepreneurs to ensure 

they are fit to execute their ideas. Then 

we register them onto our platform. 

Most often, we ask entrepreneurs if 

they have a partner involved in their 

ideas or business plans. This is the first 

indication that they have thought this 

through and aren’t wasting their time. 

ISME: How do you differentiate 

Entrepreneurs of Arabia from other 

such organisations? 

ZH: We differentiate ourselves from 

other organisations by providing 

support as well as advisory. The 

platform is quite unique, because it has 

all the components of the ecosystem. 

We’ve got the organisations, the 

investors, the entrepreneurs, and 

the mentors, and that’s where we’re 

unique. We’re trying to offer a faster 

process to introduce an entrepreneur 

to an investor. Business cycles are 

normally longer in this region and, 

so, by providing a shorter time to 

market for an idea, we aim to support 

and contribute towards accelerated 

economic growth. 

We are developing a network 

of independent domain experts on 

the platform. They have volunteered 

onto this platform, and they provide 

consultancy to entrepreneurs. If they 

are interested in the business they are 

invited to take a stake in it as well. Our 

operations are spread over the Middle 

East. Our domain experts currently 

are mainly in Dubai. Our plan is to roll 

out operations across the region with 

the UAE being the first due its vibrant 

infrastructure and talent pool. 

ISME: How much do you charge 

entrepreneurs? 

ZH: We don’t charge entrepreneurs 

any fees because we realise that they 

are starting off, and money is very hard 

to come by. Therefore, our business 

model is not to charge entrepreneurs. 

Our charges come in when we are 

successful in a transaction that 

introduces an entrepreneur with an 

interested investor. It is a nominal fee, 

anything from two per cent to 10 per 

cent for an investor, and we take a stake 

in an entrepreneur’s business after it has 

secured funding. 

ISME: How do you protect the 

business model? 

ZH: Sensitivity and protection of 

intellectual properties are core to our 

business. Protecting people’s ideas 

and investor’s credentials is also very 

important. We’ve embedded it in the 

platform in each process. For instance, 

when an entrepreneur registers, we 

don’t immediately give total access. We 

interview them, screen them. This sort 

of example is applicable in whatever 

we do. Our non-disclosure agreement 

We’re trying to 

offer a faster 

process to 

introduce an 

entrepreneur to 

an investor. 

tells entrepreneurs not to disclose 

what we tell them. In turn we ask 

entrepreneurs to send us their own 

non-disclosure agreements to 

protect them. 

ISME: Do you handle financial 

transactions between investors and 

entrepreneurs? 

ZH: The minimum investment 

entrepreneurs seek is US$50,000 from 

an investor. Once an idea has gone 

through the necessary approvals, we 

hand it over to an investor who has the 

regulatory approvals to handle finance. 

Investors have their own terms and 

legal framework. We don’t execute the 

legal framework around an investment 

ourselves (although we stay involved 

throughout the entire cycle). We are 

merely facilitators who see that an 

entrepreneur receives what he/she 

wants, and we see it through to the end. 

If we take a stake in a business, we 

work with the promoter throughout, 

providing support and seeing that 

they grow. 

ISME: What is your sense of investor 

confidence here? 

ZH: Without marketing and just an 

online presence we’ve received about 

100 clients. Investor confidence is 

high, especially from the government 

side, which is keen to see young 

people grow. We also have established 

businesses coming to us for support. As 

these companies have a proven track 

record, it is easier to receive funding. 

29



Out & About 

Pitching for a cause 

Loulou Khazen Baz, 

winner of The 

Entrepreneur 

reality television 

show organised 

by du, spoke to 

iSME recently on 

the show and her 

future plans. Her 

online project, 

Nabbesh (www. 

nabbesh.com), 

is a resource for 

SMEs who want to 

take on a specific 

project, without 

needing to recruit 

on a full-time basis. 

30



Out & About 

Khazen Baz’ winning title 

and much-coveted prize 

includes a guaranteed 

office space for a period 

of one year, media exposure, the 

chance to grow her company value, 

and recognition, adding up to another 

AED1 million in prize value. 

ISME: How did Nabbesh come to life? 

LKB: When we created the brand, we 

wanted something friendly, because 

our target audience is individuals with 

skills, so we wanted to have a very 

amiable feel to the website instead of 

becoming corporate and rigid. When 

introducing a character, we had an owl 

in mind because it denotes wisdom, 

knowledge and vision. “Nabbesh” 

means search in Arabic. 

We went live in April 

2012 and we’re a very 

small team - four of us on 

full time basis. My co-founder who is 

also the CTO Rima Al Sheikh as well 

as two other people are working on the 

development of the platform. We also 

have about five freelancers who work 

on other aspects of the business. The 

freelancers provide us with the skills 

that we need for specific tasks and work 

around six hours a day so they are quite 

committed to Nabbesh. The idea is to 

stay agile. As a start-up, cash is critical 

to sustain the business, we want to grow 

incrementally and we do not want to 

burden ourselves with overhead costs. 

ISME: Why did you choose to be 

an entrepreneur after working for 10 

years? 

LKB: The last job I had was in a 

venture capital (VC) firm. Throughout 

my career I met so many entrepreneurs, 

came across so many ideas. That 

sector is so exciting. It’s full of young, 

ambitious people who want to change 

the world and make a difference. To 

borrow a phrase, I was bitten by the 

entrepreneurship bug. 

And, over the years, I felt that this 

is what I was born to do. The market 

conditions were right. Entrepreneurship 

is the focus of the day because it leads 

to job creation, which leads to a better 

economy. The time was right because 

there were a lot of VCs coming into 

the region and even internally more 

money was being spent in the region. 

The culture was changing because 

people are beginning to invest in the 

youth of this region to create greater 

opportunities. There is a big focus on 

the role of women and the fact that 

they are not included in the work force 

leading to a huge gap in the market. 

So, all these elements - the time, 

market conditions, culture of spending, 

and focus on women, combined 

with ten years of work experience in 

investments, marketing and 

working with entrepreneurs 

- helped me decide to set up 

a business. 

ISME: What do you like about 

entrepreneurship? 

LKB: Being your own boss is 

obviously a great motivating factor. But 

it comes with a lot of responsibilities. I 

found a gap in the market, and Nabbesh 

was set up. I had the passion to fill the 

gap. So I thought I should go forward 

and do it. 

ISME: What was the gap you saw in 

the market? 

LKB: There is no platform at the 

moment in this region that helps people 

with skills to get exposure and find 

project-based opportunities. I decided 

to create that platform because people 

have the right to work and we have 

vast unemployment in this region. The 

need is so clear. I’m providing people 

with a basic need, which is a chance to 

work, be productive and make money. 

There was no one else doing this for to 

join them, so I set about creating the 

platform. 

ISME: How is the response at Nabbesh 

since you began operations? 

LKB: The journey has been very 

exciting. There’s learning every day. 

The more time passes, the more I feel 

that the concept is fantastic and the 

need for it. People are using Nabbesh 

and we’re seeing that in the numbers. 

There’s a lot of growth from when 

we launched till today. We’ve been 

quadrupling our sign-ups and this is 

with very minimal investment and 

marketing. 

ISME: What was your experience 

when you joined for The Entrepreneur? 

LKB: First of all, I think I was 

applicant Number 6. I must have been 

one of the first people that saw it. I’m 

a social media person. I’m always on 

social media, especially Twitter. I get 

all my news, especially in the morning 

for an hour on Twitter. I saw this 

announcement as a tweet. It seemed 

interesting especially since I was 

starting up Nabbesh. So I checked it in 

detail. And I thought to myself, why 

not, I’m an entrepreneur, and I have a 

great idea, which not only a commercial 

venture, but a social project that has 

impact on millions of people around the 

region. The offer of a million dirhams 

was too good to pass up. At the time, I 

didn’t think I was going to win, but, as 

an entrepreneur, I know that I can’t pass 

up any great opportunity. 

ISME: Who do you think were the 

toughest judges? 

LKB: I think the toughest judge was 

Abdul Baset Al Janahi, CEO of Dubai 

SME, although he was tough with all 

the contestants. One had no idea where 

they stood throughout the competition. 

There was never an indication of the 

positives and negatives of each person. 

You had to be very careful while 

listening to the questions asked. Even 

when I was in top ten, I never did feel 

31



Out & About 

that I would be the winner. However, 

my attitude about the competition 

changed, because I became more 

focused and determined to win this. 

ISME: What was the format? 

LKB: It was a series of workshops. 

Obviously you had to show that you 

were a quick learner and showed a 

marked difference between your first 

pitch and the last one. There were some 

sessions with some industry experts 

who would listen to your concerns, 

would learn more about our respective 

businesses and give us advice, and at 

the same time they will also have an 

evaluation with the judges of what 

they experienced. This evaluation was 

followed by our pitch. 

Winning the show provided me 

with a great push to continue building 

my business.Who would dream of a 

million dirhams as a prize, or vote of 

confidence, or as an endorsement? 

I’m the kind of person who is slightly 

cynical by nature, even during the 

show. But now it’s different, we 

celebrate every small milestone we 

cross at Nabbesh. No matter how 

insignificant in the grand scheme of 

things, we celebrate it, because it is 

important. It’s motivational for the 

team to stop for a bit, enjoy the small 

successes, let it sink in, and then 

continue on. 

ISME: What areas do you think you 

excelled on the show? 

LKB: I think I’m very personable. 

I had the combination of what a TV 

show needed - a superb concept, and 

a presentable nature, and a venture 

that will not only make money but 

also contribute to the community. I’m 

expressive too and this is what one 

wants to see onscreen. We have to be 

good at selling ourselves and selling the 

product. It’s so important to get these 

four judges inspired. It’s hard. I dare 

anybody to stand in front of a camera 

crew of 30 people, four difficult judges, 

with so little time and make a perfect 

pitch. It was a lot of pressure. 

Nabbesh was already live for three 

weeks by the time the filming started. I 

Ideas are a dime a 

dozen, everybody has 

millions of them. But 

ideas are worth zero 

without anything to 

show for it. When 

you’ve taken the 

first step and built 

something, you’ve 

already shown the 

people that the idea 

is tangible and that 

you are serious and 

committed to the 


think that helped in winning, because 

even if you’re looking at something that 

is a complete disaster, it’s still better 

than looking at just an idea. Ideas are a 

dime a dozen, everybody has millions 

of them. 

But ideas are worth zero without 

anything to show for it. When you’ve 

taken the first step and built something, 

you’ve already shown the people that 

the idea is tangible and that you are 

serious and committed to the business. 

Maybe the product isn’t great, but 

people will understand because of lack 

of finance, resources. When you take 

that first step, it gives you a lot more 

credibility than people who have their 

business on paper. There is something 

to see and experience. 

ISME: How is this exposure going to 

help you in your business? 

LKB: Obviously the exposure that will 

come from the show will be immensely 

helpful. The biggest challenge for any 

start-up is to build a database. I think 

the exposure would help us achieve that 

to a certain degree. I think it is fantastic 

to be the winner of such a show because 

it is a good endorsement for our 


Moving forward, we see a lot of 

value for SMEs. An SME’s challenge 

is talent acquisition and immediate 

acquisition. It’s a nightmare for SMEs 

to find the right people. 

Not only do you have a challenge 

to find them, but you have to make sure 

they are available immediately. SMEs 

are not restrictive either in terms of 

territory. A skill could come as far as 

Jordan. So there is an available talent 

pool, and in the future the talent will 

be rated by their peers. We just crossed 

5000 skill providers in a short 

span of time. 

ISME: What are your targets 

for 2013? 

LKB: We want to have a regional 

user base. We want to be in Arabic and 

be present on mobile platforms and 

hopefully turning a profit. 

32



Out & About 

A playbook to flourish 

in business 

Whether you are young or old, female or male, about to start your 

own business or merely thinking about starting your own venture, 

Connect the Dots will help you see your path clearly. An ISME report. 

Connect the Dots, a guidebook 

for entrepreneurs by John 

Lincoln, vice presidentmarketing 

( Enterprise 

segment), du, was successfully 

launched recently in Dubai. 

The publication is a playbook for 

an entrepreneur, an everyday pocket 

guide to surviving and flourishing in 

business. This publication provides 

a wealth of experience that has been 

put together by Lincoln himself in 30 

chapters. 

Lincoln noticed that there was a 

lack of basic industry knowledge and 

that he wanted to share his experiences 

by writing Connect the Dots in the most 

simplest of forms so that all businesses 

and individuals 

could connect. 

“This is my 

tribute to SMEs,” 

he added. 

“Most people start 

up their business 

and projects based 

on opportunistic 

decisions as 

opposed to a 

strategic decision, 

they don’t think 

about sustainability 

and growth, and 

because of that 

we see many 

businesses fail. 

This analysis got 

me thinking and 

led me to decide 

that I want to share my expertise and 

knowledge,” he explained. 

With the diverse and challenging 

market conditions, Lincoln 

continuously found himself hiring 

large multicultural teams. He has 

recorded his observations and applied 

the thought process in his publication 

stating the obvious failures and success 

stories. Some topics mentioned in the 

book are secrets of hiring and firing, 

cash flow and sources of funding, 

marketing to women, pricing strategies 

and tactics, and sustaining a business, 

among others. 

Lincoln’s business knowledge 

spans from a truly global perspective. 

He is a transplanted American, who 

has worked in several countries, such 

as Japan, India, the UK, Malaysia, 

Thailand, and Brazil. He has held 

senior management positions with 

global organizations such as Vodafone, 

Japan Telecom, Bharti Airtel and 

AT&T. Connect the Dots is now 

available at all major bookstores 

in the UAE. 

du SVP network development Hatim Bamatraf, du chief commercial officer Farid Fraidooni, senior director 

SME (Enterprise marketing) Vikram Chadha amoung attendees at the launch ceremony of Connect the Dots. 

34



Out & About 

Leading the way to successful 

loan applications 

Dubai Chamber’s ‘Guidelines for Enhancing SME Finance’ provides a 

list of required documentation as well as tips designed to help SMEs 

apply for finance successfully. An ISME report. 

The Dubai Chamber of 

Commerce and Industry 

launched its ‘Guidelines for 

Enhancing SME Finance’ 

during a seminar held at its head office 

recently. 

The seminar, held in cooperation 

with the ministry of economy, sought 

to highlight efforts aimed at reducing 

the gap between supply and demand of 

SME finance. It provided SMEs with 

a unique opportunity to learn what 

essentials are required when applying 

for financing, how to maximise the 

effectiveness of an application, and 

how to speak to bank representatives on 

the spot. 

Dubai Chamber chairman Abdul 

Rahman Saif Al Ghurair, said that 

enhancing SMEs’ access to finance 

was an effective way of ensuring 

Dubai’s continued development as an 

international trading hub. 

“Despite their integral role in Dubai’s 

economy many of our SME members 

continue to face difficulties securing 

financing at sustainable rates. In fact, 

the UAE’s total bank lending to SMEs 

is around 3.85 per cent, when its target 

is 24.3 per cent, so addressing this 

issue has been a primary task for Dubai 

Chamber,” he said. 

Eng. Mohammed Al Shehhi, 

undersecretary of the ministry of 

economy, delivered the keynote speech 

about the importance of adequate 

financing for SMEs. He said that SMEs 

contribute an estimated 40-46 per cent 

of nominal GDP for Dubai and more 

Eng. Mohammed Al Shehhi, undersecretary of the 

Ministry of Economy, 

than 60 per cent of GDP of the UAE. 

He said that SMEs host the majority 

of employment opportunities in Dubai 

and the UAE, and that these enterprises 

provide 86 per cent of the employment 

in the private sector. 

“Unfortunately, the banks’ focus 

on big loans for big corporations is 

also affecting government efforts to 

encourage private businesses as a 

step towards reducing unemployment 

among Emiratis. The ministry of 

economy is aware of the immense 

potential and contribution of SMEs 

to national growth, and is making all 

efforts to support this sector. In this 

context, it will be the ministry’s effort 

to launch the SME Law at the earliest. 

The Ministerial Committee has just 

approved the draft law and it will 

be sent soon to the Federal National 

Council,” Al Shehhi added. 

Dubai Chamber’s ‘Guidelines for 

The seminar, held in 

cooperation with the 

Ministry of Economy, 

sought to highlight 

efforts aimed at 

reducing the gap 

between supply and 

demand of SME finance. 

Enhancing SME Finance’ provides a 

list of required documentation as well 

as tips designed to help SMEs make 

more successful applications. The 

guide also provides applicants with 

contextual examples to help identify 

the most important aspects to focus on, 

while providing guidance on what to 

emphasise in discussions with a bank’s 

relationship manager. 

The seminar featured speeches 

by Mohammed M. Abdulrazzaq, head 

of Business Banking, HSBC Dubai, 

who talked about application-relevant 

documentation requirements, and 

Douglas Stoneham, head of SME 

for UAE and Middle East, Standard 

Chartered Bank, who gave tips on how 

to ensure a successful interview with 

a financier. Following the speeches a 

panel discussion between bankers and 

SME owners was led by Dr. Belaid 

Rettab, senior director, Economic 

Research and Sustainable Business 

Development Sector, Dubai Chamber. 

35



SME Financing 

The many advantages of life 

as a listed company 

Craig Hewett lists out the benefits of carrying out an 

IPO and how it can streamline a business. 

The most obvious benefit of 

carrying out an initial 

public offering (IPO) is 

to raise capital to help a 

company grow. 

With loans hard to come by 

for many businesses in the current 

banking climate, or else prohibitively 

expensive, going public is an 

increasingly attractive alternative way 

to acquire funds. But the advantages of 

an IPO do not end once a company has 

received money from its new investors, 

in exchange for some of its shares. 

The achievement of listed status is the 

beginning of a journey that can bring 

many other short-term and long-term 

benefits too. Any company wondering 

whether an IPO is right for them should 

be aware of what these benefits are, 

to help them reach the appropriate 

decision. 

In the spotlight 

One advantage usually becomes 

clear on the very first day of the listing, 

when a company’s shares start to 

36



SME Financing 

Craig Hewett is senior vice president- head of business development at NASDAQ 

Dubai with responsibility for the commercial activities of the exchange. These include 

product and market development, membership, training and market data. Prior to 

joining NASDAQ Dubai in July 2011, he held the position of chief business officer at 

the Bahrain Financial Exchange (BFX) from 2008. He brings a wealth of international 

expertise in trading a variety of asset classes. 

trade on its chosen exchange for the 

first time. The company finds itself 

firmly in the public spotlight, with the 

media writing and broadcasting its 

share price and plans for the future. 

Congratulations on the listing often 

pour in from customers and business 

partners, who see it as a positive step 

that underpins the company’s reliability 

and prospects for growth. New business 

can quickly follow. If the selected 

exchange is NASDAQ Dubai, with a 

profile that is international as well as 

regional, the listing can make a truly 

global impact. It is likely to catch the 

eye of the international press, which is 

interested in companies that have an 

international investor base of the kind 

that NASDAQ Dubai can provide. 

Many issuers on NASDAQ Dubai 

take advantage of the exchange’s 

links with the NASDAQ stock market 

in New York to place a message on 

the giant NASDAQ Tower in Times 

Square, overlooking one of the best 

known locations in the city. The Tower 

can be used to advertise not only the 

listing, but subsequent important 

developments at the company too. 

New capital 

Media interest in a company 

is maintained after the listing, as 

journalists follow movements of its 

share price and developments in its 

business over time. Another lasting 

benefit that follows an IPO is that listed 

status can make it easier for a company 

to raise further capital. This can be 

achieved by issuing further shares on 

the same exchange. 

The regulatory regime governing 

NASDAQ Dubai provides a 

streamlined procedure to enable its 

listed companies to take this route. Or 

they might decide to issue a bond or 

sukuk and list that as well. A NASDAQ 

Dubai listing can also make it easier 

for a company to borrow money 

from a bank, as the status of being 

listed on an exchange that operates to 

international standards helps to address 

many of the concerns that lenders 

have when assessing customers, 

such as transparency and quality of 

governance. 

A further benefit of an IPO is that 

share options can be used to attract and 

retain talented staff. Options are an 

important part of employee packages in 

many successful companies, providing 

motivation as well as reward for 

success. Shares can also be used as 

payment, instead of cash, to enable a 

company to take over another one as it 

expands its business. And a listing on 

an exchange provides company owners 

with a simple route to sell some of their 

own shares if they wish to, by selling 

them on the open market. 

A further benefit of an IPO is that share 

options can be used to attract and retain 

talented staff. Options are an important part 

of employee packages in many successful 

companies, providing motivation as well as 

reward for success. 

A well run business 

The good governance practices that 

go with being a listed company help to 

keep it running efficiently and alert to 

opportunities and challenges. 

The Dubai Financial Services 

Authority, which is the listing 

authority for companies whose shares 

trade on NASDAQ Dubai, requires 

companies to comply with certain 

internationally respected principles 

in the way they operate. For example, 

every listed company should have 

an effective Board of Directors that 

contains a balance of skills, experience, 

independence, and knowledge of 

the company’s business; and the 

Board must ensure that the company 

has a robust risk management and 

compliance framework. The Board 

must also ensure that the company’s 

financial reports are accurate and clear. 

Many SMEs, are of course, 

extremely well run long before 

they list, but a sound regulatory 

framework reinforces best practices. 

A company that operates according to 

these principles has a high chance of 

outperforming a rival that does not. 

Another long-term advantage 

of a listing on 

NASDAQ Dubai 

is that the pre-IPO 

owners of the 

company can stay 

in control, as only 

25 per cent of the 

shares need to be sold in the 

IPO. On many other regional 

exchanges, more than half the shares 

must be sold. 

Being a listed company is not a 

guarantee of success. The usual ups and 

downs of business still apply. 

But the ongoing benefits of listed 

status keep working in a company’s 

favour long after it has raised capital in 

its IPO. 

37



International Accreditation 

The ‘passport’ to European 

markets 

While exporting, product safety is a priority and can be 

ensured by CE marking, writes Dr. Sameer Kumar. 

Competitive and much 

valued, the European 

market is easier to access 

than ever before. Many 

exporters, particularly SMEs, refrain 

from entering this market owing to the 

technical requirements for entry that 

seem too complicated, difficult 

and expensive. 

However, manufacturers who have 

accessed this prized market know that 

although the process is cumbersome, it 

is well worth their while. 

The European Union alone is 

a market of affluent consumers, 

approximately 500 million of them. 

The European market is a large 

area that comprises more than 

25 countries. 

Therefore, for an exporter, Europe 

as a whole has become a market 

whose technical requirements have 

been greatly simplified. Before the 

formation of the European Union, each 

country imposed its own technical 

requirements. Different standards and 

conformity assessment procedures 

forced exporters to target one or 

two countries or avoid exporting to 

Europe altogether. The unification 

of these European countries into 

European Union and the consequent 

harmonisation of laws, standards, and 

conformity assessment procedures, are 

advantageous for exporters. 

Further, ISO 9001 certification is 

widely accepted in Europe as a sign of 

credibility of a manufacturer's product. 

However, it is important to note that 

a manufacturer with a quality system, 

such as ISO 9001 in place, should not 

assume that his or her products are 

CE compliant because of the quality 

system alone. The appropriate 

New Approach Directive will prescribe 

the correct and full route to conformity 

assessment. 

The CE mark, which is affixed 

to a product or its packaging, is 

considered proof that a product 

has met all the requirements of the 

Reference of directive/regulation 

2000/9/EC 

(EC) 1907/2006 

89/106/EEC 

(EU) 305/2011 

EC) 1223/2009 

92/42/EEC 

2010/30/EU 

2009/125/EC 

(EC) 1221/2009 

2004/108/EC 

94/9/EC 

93/15/EEC 

2009/142/EC 

95/16/EC 

2006/95/EC 

2006/42/EC 

Communauté Européen, meaning the 

European Community. The European 

Commission describes the CE mark as 

a passport for goods to be sold freely 

within the internal European market. 

It is mandated by law to affix the CE 

mark if the product falls under one of 

the New Approach Directives. This 

is not a quality mark, nor is it a mark 

for consumers. Intended for member 

List of New Approach Directives for CE Marking 

Subject of directive/regulation 

Cableway installations 

Chemical substances (REACH) 

Construction products (CPD) 

Construction products (CPR) 

Cosmetics 

Ecodesign – hot-water boilers 

Ecodesign and energy labelling 


Eco-management and audit scheme (EMAS) 

Electromagnetic compatability (EMC) 

Equipment for explosive atmospheres (ATEX) 

Explosives for civil uses 

Gas appliances (GAD) 

Lifts 

Low Voltage (LVD) 

Machinery (MD) 

38 

2004/22/EC 

93/42/EEC 

Measuring instruments (MID) 

Medical devices (MDD)

92/42/EEC 

Ecodesign – hot-water boilers 

2010/30/EU 

2009/125/EC 

(EC) 1221/2009 

2004/108/EC 

94/9/EC 



Eco-management and audit scheme (EMAS) 

Electromagnetic compatability (EMC) 

Equipment for explosive atmospheres (ATEX) 



International Accreditation 

93/15/EEC 

2009/142/EC 

95/16/EC 

2006/95/EC 

Explosives for civil uses 

Dr. Sameer Kumar, CEO, Universal Consulting FZE, is a Quality, Food Safety & HSE 

Gas appliances professional (GAD) with an experience of working in more than seven countries. He has provided 

consultation and training to more than 400 clients in UAE, UK, Qatar, Jordan, Thailand, 

Singapore, Hong Kong and India. He has completed his MBA, PhD and is a six sigma 

Lifts 

champion by qualification and lead auditor of ISO 9001, ISO 14001 and OHSAS 18001. To 

know more about International standards write to Dr. Sameer, Email - ceo@ucfglobal.com . 

Low Voltage (LVD) 

2006/42/EC 

2004/22/EC 

93/42/EEC 

90/385/EEC 

98/79/EC 

(EC) 765/2008 

2009/23/EC 

94/62/EC 

Machinery (MD) 

Measuring instruments (MID) 

Medical devices (MDD) 

Medical devices: active implantable 

Medical devices: in vitro diagnostic 

New legislative framework (NLF) 

Non-automatic weighing instruments (NAWI) 

Packaging and packaging waste 

The European 

Commission describes 

the CE mark as a 

passport for goods to 

be sold freely within 

the internal European 

market. 

89/686/EEC 

97/23/EC 

2007/23/EC 

1999/5/EC 

2008/57/EC 

94/25/EC 

2011/65/EU 

2009/105/EC 

2009/48/EC 

state authorities, it is the visible sign 

to those authorities that a product is in 

compliance with the New Approach 

Directives. All manufacturers are 

required to affix the CE mark to 

products that are governed by New 

Approach Directives. CE marking on a 

product indicates to all authorities that 

the product is in compliance with the 

essential health and safety requirements 

of all directives that apply 

to the product. 

The first step to compliance is 

determining which directives apply 

to the product. A product may be 

regulated by more than one directive. 

The CE mark does not disclose 

which directive or standards apply 

to a particular product, nor will it 

indicate the method of conformity 

Personal protective equipment (PPE) 

Pressure equipment (PED) 

Pyrotechnic articles 

Radio and telecommunications terminal equipment (RTTE) 

Rail system: interoperability 

Recreational craft 

Restriction of the use of certain hazardous substances (RoHS) 

Simple Pressure Vessels 

Toys safety 

assessment used to bring that product 

into compliance. This information 

is provided by other accompanying 

documents, such as the Declaration 

of Conformity. A manufacturer or an 

authorised representative affixes the CE 

marking to a product. It is not affixed by 

a notified body. 

Passport 

The European Union's New 

Approach Directives are mandatory for 

all member countries to enact through 

national legislation. It’s an offence to 

place a product on the market without 

CE marking. A manufacturer is legally 

responsible for ensuring that its product 

confirms to all the requirements of 

the directive and CE marking. Due 

to stringent safety standards, many 

countries outside Europe, especially in 

the Middle East, are adopting CE mark 

as basis of product safety standards in 

their own country. 

Benefits 

The EU introduced the CE 

marking scheme to make trade easier 

and cheaper between EU countries. 

It means that a product conforms to 

the minimum legal requirements for 

health and safety as laid down in 

EU directives. 

The great benefit for manufacturers 

is that there is now only one set of 

requirements and procedures to 

comply with while designing and 

manufacturing a product for the entire 

EU. The various conflicting national 

regulations are eliminated. As a result, 

a product no longer needs to be adapted 

to specific requirements of different 

member states of the EU. 

In addition, it may be considered 

a benefit, that by implementing these 

requirements, a product will be safer 

for users, while also reducing damage 

and liability claims. 

CE marking is a product 

certification for organisations that 

want to penetrate or develop a 

particular market or sales opportunity. 

The CE marking certificate helps to 

meet sales and quality objectives. The 

certificate opens the door to Europe. 

39



Wealth Management 

The benefits of offshore banking 

OFFSHORE BANKING 

Consider all your options 

Protect your assets 

Get recommendations 

Pass on assets as you wish Know what you’re looking for 

Keep it private How to find a good wealth manager Ask about service levels 

Many people associate 

offshore banking 

with the super rich, 

but the benefits 

extend far beyond 

the very wealthy - 

ranging from access 

to more innovative 

banking products to 

asset protection and 

anonymity, writes 

Rupert Connor. 

The term “offshore” describes 

nothing more than a 

jurisdiction other than the 

one in which you are usually 

domiciled. Therefore, any jurisdiction 

can be offshore. For example, the US 

is one of the world’s largest offshore 

jurisdictions (for non-US citizens). 

In most cases the word “offshore” 

is used to describe low or no-tax 

jurisdictions that have promoted special 

legislation to attract business and 

interest from other countries. 

There are significant advantages 

to investing, holding assets, doing 

business or residing offshore. It can 

give you broader access to global 

markets and, therefore, yield more 

investment opportunities. Your assets 

can be protected from unsubstantiated 

lawsuits and unjustified claims. 

You can enjoy privacy and personal 

security and, of course, there are many 

possibilities to reduce taxes legally. 

In most countries around the world, 

your residence is the primary basis of 

how you are taxed, and since the early 

twentieth century, people from high-tax 

jurisdictions have sought to relocate 

themselves to lower-tax ones. 

Places like the UAE, for example, 

levy very low or nil rates of income tax. 

Many such jurisdictions are also capital 

gains and inheritance tax free. 

However, that is not to say that 

those residing in the UAE and other 

parts of the Arab world do not stand to 

benefit from offshore banking; quite the 

contrary. 

Your financial adviser should be 

able to recommend a range of banking 

institutions, which are tax-friendly 

to non-residents in locations such as 

the Isle of Man, Jersey, Gibraltar and 

Guernsey, among others. Here I take a 

look at the benefits of doing so: 

Protect your assets 

Protecting your money, whether 

in a current, deposit or investment 

account, is an important consideration. 

Holding assets offshore can help 

to protect you from a bank’s collapse. 

A good example of this is that in late 

2008, at the height of the global credit 

crunch, the States of Guernsey resolved 

to establish a deposit compensation 

scheme to protect retail depositors with 

local banks. Like Britain’s Financial 

Services Compensation Scheme, the 

40




Rupert Connor is an independent financial advisor with Acuma Wealth Management. 

As a qualified advisor in the region, he helps expats get their finances in order, and 

maximise the financial opportunities available offshore and plan for future events. 

scheme covers the first £50,000 of 

deposits by individuals. 

Meanwhile, the Isle of Man 

protects 90 per cent of assets held 

with life assurance firms, should they 

be unable to meet their liabilities to 

policyholders. This scheme operates 

globally, providing protection to 

policyholders no matter where 

they live. 

Banking offshore will also provide 

you with the added security of banking 

in a highly regulated financial market, 

unlike that of the UAE, which is in the 

embryonic stage of being regulated. 

Pass on assets as you wish 

Many expatriates are unaware 

of Shari’ah law and how it affects the 

financial system in the Middle East: 

in some cases, your assets could end 

up being frozen, and ultimately be 

distributed contrary to your desire. 

One of the big advantages of 

offshore banking is that you can choose 

who your assets are passed to in the 

event of your death. 

Keep it private 

Offshore banking ensures your 

accounts are kept strictly private. 

The confidentiality of all operations 

conducted through the account is 

protected by legislation. 

The account is protected from 

creditors, tax authorities and other 

interested parties. 

A good wealth manager 

Financially speaking, expatriates 

who reside in the east tend to be more 

affluent than their counterparts in 

Europe and west. 

If you live in the Arab world and 

have survived the hard times of the 

past few years, there’s a strong chance 

that you’re financially better off than if 

you were working in your homeland or 

another western country. 

Don’t be afraid to 

ask very direct 

questions and be 

specific about 

your individual 

investment needs. 

Having said that, I’m always 

amazed that many of the expats I 

meet are unaware of their offshore 

advantage and fail to embrace the 

opportunities legitimately available to 

them to advance, enhance, protect and 

effectively manage their wealth. 

Expats often aren’t sure where to 

go to receive qualified and qualitative 

advice. So as a newly-arrived expat, 

living abroad for the first time, how 

should you go about sourcing a wealth 

manager to help you? 

Get recommendations 

Clearly, it’s wise to seek out 

a reputable independent financial 

adviser. Independent, in this instance, 

means someone who does not work 

for a specific financial institution and 

will offer you a much wider range of 

options than an adviser who is tied to a 

specific company, such as a big bank. 

But how do you know that the adviser 

is reputable? 

Recommendations count for a lot, 

so ask around to see if any neighbours 

or colleagues can recommend 

an adviser they have had a good 

experience with. 

It’s important to feel that your 

wealth planning is in good hands and 

that you can enjoy a good rapport with 

your adviser. 

Know what you’re looking for 

Primarily, it is your adviser’s duty 

to recommend a clear path towards 

reaching your lifestyle goals. 

Don’t be afraid to ask very direct 

questions and be specific about your 

individual investment needs. 

It’s not all about investment 

returns: you should be just as interested 

in preserving your capital against 

inflation, reaching a desired income 

level from a lump sum, making your 

investment as tax-efficient as possible 

and securing the smooth passage of 

your estate. 

Consider all your options 

You might think that your old 

adviser is best placed to help you. 

However, they might simply suggest 

repatriating your wealth back to 

your home country and investing it 

in taxable savings and investment 

solutions, property or perhaps even 

bonds or cash-based bank accounts. 

However, this is not the best solution 

for many people for a number of 

reasons. 

Alternatively, you may feel that 

you have to save your newly-acquired 

wealth onshore in your new nation of 

residence. 

Enquire, too, about offshore 

investment procedures as this might be 

the best route for you. 

Ask about service levels 

Many advisers will recommend 

similar products. What differs, to great 

varying lengths, is the service offered. 

Ask your adviser to state in writing 

the level of service you can expect in a 

clear and concise manner. 

Be extremely wary of advisers 

who make you feel uncomfortable in 

any way. A reputable adviser will not 

offer an investment that must be taken 

out immediately, nor will they promise 

unrealistic levels of return. The right 

adviser will also be interested in your 

own financial circumstances: beware of 

those that aren’t. 

41



Insurance 

Being equipped to succeed 

or because they lack clear business 

rationale for preparedness. 

The first insurance you should take 

is key person insurance that protects 

the business if a key person becomes 

disabled or dies. 

Why should you insure your 

business? Business insurance protects 

your business against any operational 

losses. Whatever your business— be it 

an employment agency, IT consulting, 

management or marketing consultancy, 

photography or videography agency, 

catering firm, or accounting firm, 

consider business liability insurance 

cover, which includes general liability 

and professional liability. What type of 

loss is covered by your insurance policy 

depends on your company, policy, and 

its limitations. There are several types 

of coverage for business insurance. 

Business liability insurance is one of 

the most important types of insurance 

a company needs. It protects against 

liabilities or claims made by third 

parties due to negligence or a mistake 

on your company’s part. It can come 

into effect in the event of bodily 

injuries or death or property damage 

caused by your business to a customer, 

general public, property owners among 

others. Depending on your policy, 

it could cover legal costs, medical 

expenses (for the injured) and other 

types of compensatory damages. 

Sandi Saksena outlines key measures for 

insuring a business against operational losses. 

As an SME, you are part of 

the fastest growing segment 

in the UAE economy. You 

must do everything you can 

to ensure that, as a major contributor to 

the UAE’s economy, you are equipped 

to succeed in the present business 

climate and to develop in the future. 

Various surveys conducted on 

SMEs reveal that SME business owners 

generally do not perceive preparedness 

as a priority, perhaps because they 

are preoccupied with managing their 

operations, perceive a low risk of crisis 

Public liability coverage protects a 

business against claims of bodily harm 

or property damage caused to the public 

or another third party resulting from 

business operations. This could include 

coverage for when a customer or visitor 

slips and gets injured on company 

premises because of a water spillage, 

for instance. 

Product liability insurance comes 

into effect for any harm caused to a 

third party (often to customers) from 

42

AIG SME Insurance Solutions 

Our SME Portfolio 

; Office 

; Clinicare 

; Property Owners 

; Retail 

; Select 

; Food & Beverage 

; Personal Care 

All businesses face similar exposure and risks but we at AIG 

recognize that each and every business is unique; with this in 

mind we have designed a product especially for you. 

We understand that customers are the centre focus of small 

businesses and that even the smallest incident can interrupt 

your daily operations; this is why we at AIG believe that it is 

not about replacement or repairing, it is about restoring your 

business to its original capacity. 

You can relax in the knowledge that our fast, reputable claims 

handling service will get your business back up and running 

promptly, just give us call and we will handle the rest. 

; Educare 

American Home Assurance Company 

Tel +971 4 214 3000 

www.aig.com 

The information contained herein are not complete descriptions 

of the products and services, but are for general informational 

purposes only. These products and services are underwritten by 

American Home Assurance Company, a member company of 

AIG. Certain names, words, titles, phrases, logos, icons, graphics 

or designs may constitute trade names, registered or unregistered 

trade-marks of AIG used under license by AIG 

The Intelligent SME.indd 1 

12/11/2012 2:07:15 PM



Insurance 

Sandi Saksena is a financial planning counsellor with over 15 years’ experience in 

advising on life, disability and critical illness insurances. She focuses on exit planning 

for SME owners, working with accountants and lawyers to provide holistic solutions. 

the use of your company’s product. 

For example, if you are an FMCG 

company, it can provide coverage in 

case a customer sues you for getting 

food poisoning after consuming your 

product. 

Professional liability is also known 

as professional indemnity insurance, 

and is meant for companies that 

provide professional services, such as 

management marketing accounting or 

computer consulting. Often referred 

to as “errors and omissions” coverage, 

professional liability protects your 

business should a customer claim that 

you committed negligent acts or made 

errors or omissions when performing 

your professional services. This type 

of insurance is beneficial because 

professional liability claims can be 

very costly. 

Many SMEs, here in the UAE, are 

in the business of event management 

conferences, exhibitions, corporate 

events, outdoor and other special 

events. There is risk in every event, and 

though some companies may purchase 

basic cover, few SMEs purchase 

contingent business interruption 

policies to cover events that indirectly 

impact their company, including events 

that effect key suppliers or 

other factors. 

Even small events involve time, 

effort and expenses, which can go to 

waste if an event has to be cancelled, 

curtailed or postponed. Additional 

costs can be incurred if an event is 

disrupted. The cause can be anything 

outside your control and which is 

unforeseen - from the key speaker or 

performer falling ill, to severe weather, 

to transport disruption, among others. 

Fortunately, event cancellation 

and disruption insurance can be taken, 

and there are event assured policies for 

every event type corporate, product 

launches, road shows, hospitality, 

conferences, incentive travel and 

others, which also cover equipment 

at events from tables and chairs to 

sophisticated audio visual systems and 

computers, all of which are someone’s 

responsibility. 

Cost 

The cost of business insurance 

depends on basic elements, such as size 

and nature of business and the number 

of people involved in that business. 

The larger your business is, or the risk 

involved, the more expensive cover 

you would require for every individual, 

vehicle, and building. For example, if 

you have a construction business that 

involves operating heavy machinery, 

dangerous power tools, and working 

from large heights, your insurance 

rates will be much higher than a 

simple delivery business. If you are 

in a business that involves warehouse 

work, or handling heavy, difficult and/ 

or delicate machinery, materials, or 

packages, then you will have to pay 

more costs. You should always apply 

for business insurance and receivable 

insurance to make sure that your 

company can handle any losses. 

Be it just your office, professional 

services, retailers, property owners, or 

professional indemnity - no matter the 

nature of your business or jurisdiction 

under which you operate - besides the 

mandatory insurance, take that extra 

step and the insurance appropriate to 

your SME. 

As the person responsible for 

researching and purchasing business 

liability insurance coverage for 

your company, finding the right 

general liability insurance, workers’ 

compensation insurance, and umbrella 

liability insurance policies at a 

reasonable price can be a challenge, 

because buying small business 

insurance isn’t something you do every 

day, the many available options can 

be confusing and even intimidating. 

Work with an independent broker who 

can help and guide you through the 

risk prevention strategies, products 

and pricing and will give you the cover 

most suited to your business. 

Some of the useful general 

insurance covers include: 

• Fire and other events cover for 

damage to buildings, contents and 

stock from events such as fire, storm, 

malicious damage and impact. 

• Cover for theft of business 

contents and stock as a result of a 

break in to your building. 

• Money covers for loss of money 

at your business premises during 

business hours, in a locked safe, in 

transit or at your private residence. 

• Business interruption covers for 

the loss of your gross profit, resulting 

from an interruption or interference to 

your business by insured events such 

as a fire, storm damage or theft. 

• Public and products liability cover 

for your legal liability for personal 

injury or property damage as a result 

of an occurrence in connection with 

your business. 

• Glass cover for breakage of glass 

and signs. 

• General properties cover for 

items you regularly take away from 

your premises, such as tools of your 

profession, laptop computers and 

other electronic equipment. 

• Equipment breakdown cover 

for the cost of repairing or replacing 

machinery and electronic equipment, 

which suffers a breakdown. 

• Marine transit cover for loss or 

damage to goods in transit within 

UAE or abroad. 

44



Sales & Marketing 

Insights to grow your business 

Sometimes sheer common sense can give a marketing campaign the 

edge over others, writes Simon Hodges. 

In a previous article in this column, 

I briefly outlined five general 

areas you should consider in 

order to grow your business. To 

remind you, these are: recognising 

that all businesses are in the sales and 

marketing business; understanding the 

market you are in; creating a bond of 

trust with your customers; standing out 

in the marketplace and concentrating 

on a chosen segment or niche. 

In this article, we will look at the 

area of sales and marketing, and I want 

to introduce you to some powerful and 

profitable business building principles 

that form part of the “street wise” and 

“common sense” business school, 

proven time and time again to provide 

business owners with advantages over 

their competitors. 

Ultimate leverage 

Too many businesses remain 

grounded in one-dimensional 

46




Simon Hodges, CEO, Alchemy Network Middle East has recently launched the 

franchise network in the Middle East. Alchemy Network is a UK-based worldwide 

network of consultant partners, who work alongside owners and operators of SMEs 

to help bring them financial success, and eventually introduce them to systems that 

will relieve them from the mundane day-to-day running of the business,and allow 

them time to concentrate more on what they do best. 

marketing habits. But marketing is a 

tool of the mind and it is in the mind 

where true wealth is made. Before this 

starts to sound like some kind of new 

age lecture, let’s look at an example. 

Let’s say you send out a sales 

letter that costs AED10,000 and gets a 

poor response. There is a tendency to 

give up and say “why should I spend 

AED10,000 and go through all that 

work and only achieve a small return.” 

However, what you need to think about 

is the content of the sales letter. It is 

highly likely that something in the 

sales letter can be improved to increase 

response rates. Often, simply using a 

stronger headline or using better copy 

in the body of the letter, can increase 

response rates dramatically. By 

improving the content of the letter and 

doing it scientifically, you employ the 

leveraging action of marketing. 

You are still sending a sales letter, 

but it’s not about the physical tool of 

the sales letter. It’s about the infinite 

possibilities that marketing concepts 

give you in order to make that tool 

more effective. 

Test and measure effectiveness 

No matter which strategy 

you employ or which method 

you choose to incorporate 

in your business, you 

must always measure its 

effectiveness in small tests 

before you roll it out in a 

grand manner. 

Once the test proves itself, 

use that test as a control. Then 

change one item or detail of the strategy 

or method and do another small test. 

If the second test brings better results 

than the first test, the second test then 

becomes the control. While this testing 

is a never ending process, whatever you 

do, don’t lose sight of the total picture. 

For sure, concentrate on areas where 

The truth is that you can be successful like 

millions of other SME owners operating round 

the globe but the real trick to making effective 

use of marketing is to first understand your 

market. 

you can see the greatest improvements 

but do not neglect the other areas. 

Remember, that by making small 

incremental improvements in several 

areas the overall results you will get 

will be exponential. 

Grow your business 

You are now running successful 

marketing campaigns so, other than 

available cash flow, there should be no 

such thing as a marketing budget. It is a 

ridiculous idea based on the assumption 

that marketing is a 

cost rather than a 

revenue generator. If 

an advertisement costs 

AED2000 and the profit 

generated from the 

ad is AED1200 (you 

would know this as the 

revenues generated as 

a result of the advert 

would be measurable, right?), why 

would you stop the advert just because 

your budget dictated it? Providing cash 

is available, the marketing effort should 

be unlimited with a scientific approach. 

It is self-generating. Understanding 

this self-evident truth is the key to 

marketing leverage and massive 

business growth. 

All marketing efforts carried 

out by an SME can be measured and 

remember, you can never truly run 

out of ideas. In marketing, persistence 

almost always pays off. Marketing 

can leverage an average idea into 

something spectacular- if you have 

what it takes to make it happen! Look 

no further than MacDonald’s and their 

simple burger and chips concept! 

I can hear you saying, “This sounds 

all too theoretical but when it comes to 

the practice, it’s different.” The truth is 

that you can be successful like millions 

of other SME owners operating 

round the globe but the real trick to 

making effective use of marketing 

is to first understand your market. 

By concentrating on a niche and 

promoting a well researched unique 

selling proposition that sets you apart 

from your competitors, you will have 

the simple task of communicating the 

benefits of your product or service to an 

audience that already wants what you 

have to offer (your promise). When you 

have these elements you can then earn 

the trust of your customers by simply 

delivering against this promise to create 

a sustainable growth model. 

47




also compete with alternatives for our 

products and services, which add to the 

complexity of the situation. 

The usual answer I receive is: we 

have the best service, or we have good 

quality, or we have the lowest prices, 

which all translates to nothing but a 

cliché in the mind of customers. Such 

answers raise red flags in my mind; I 

see it as a big dysfunctionality of any 

business when it focuses on a product 

or service rather than customer needs. 

Stand out or get out 

What makes a company rise above competition? 

Zed Ayesh urges businesses to differentiate 

themselves from industry peers. 

An open market, such as 

the UAE, is an excellent 

location to begin a business. 

It is no wonder that 

entrepreneurs come from all over the 

world with ideas to start-up in Dubai, 

seeking to provide solutions to satisfy 

needs in the market. 

However, an open market is 

also crowded with all sorts of ideas, 

businesses, and people; everything that 

you need or want is available in many 

shapes, forms, styles, and offerings - 

this is competition. 

Competition is good for the 

economy, the clients, and businesses 

alike because it makes a business strive 

to become better, and an economy 

benefits with the fittest surviving this 

competition. In addition, it makes 

both consumers and suppliers more 

sophisticated, better informed and up to 

date with the latest market tends. 

The complexity of the local market 

with its diverse segmentation and 

steep competition makes it mandatory 

for an SME to constantly monitor its 

core business idea, its communication 

strategy, channels, delivery 

methodology and how it all stacks up 

with both consumers and competition. 

In summary, SMEs must examine 

its overall marketing elements from 

products, place, packing, promotion, 

price and people. If a company offers 

“me too” products and services, then 

chances of success of such a business 

becomes slimmer. Offering new 

and different products, services and 

solutions is the way to go. An SME 

should stand out from the crowd, and 

that difference could be one or more 

aspect of the business. 

My first question in the marketing 

classes that I conduct for SMEs or large 

companies is: why would I buy from 

you? Why not the competition? It is 

important to understand that in most 

cases we don’t just compete with other 

businesses in the same industry, but we 

Differentiation 

Differentiation of your business 

is a popular subject in marketing and 

other areas of the business world, 

but many entrepreneurs, including 

SMEs, don’t have a clear approach to 

differentiate their business from their 

competition. 

Basic elements of having a sound 

business, such as having a reasonable 

offering with a clear core proposition 

and evident core competencies 

are a must before considering a 

differentiation strategy. Assuming that 

these elements are in place, we then 

work out an appropriate differentiation 

strategy. 

The process of differentiation is 

logical not creative; differentiation 

should be thought of thoroughly, 

it should be simple, clear and 

straightforward. Four basic steps make 

the differentiation process clear and 

simple as I have summarised below. 

Make sense 

When trying to differentiate your 

business, keep in mind that it has to 

make sense or the industry in which the 

business is categorised. The message 

to differentiate a product or service has 

to be very clear and describe what can 

be quantified (such as being the market 

leader), specific attributes (being the 

first in the market), or specialisation 

(how the product is made or delivered). 

Messages, such as having the best 

quality, lowest prices, and best services 

are not differentiation factors, as these 

slogans are so overused in the market 

that they have become meaningless. 

They present neither facts nor a clear 

idea about what a customer will get 

when such a transaction is done. 

48




Zed Ayesh has over 20 years’ experience in management and business development. 

He is currently the managing director of Flagship Consultancy based in Dubai, and 

works with clients on many aspects of the business from strategic planning, business 

development, marketing strategies, pre-sales and sales management, across different 

sectors such as government agencies, real estate, media companies, manufacturing, 

contracting, engineering firms, retail and shipping companies. 

It is becoming a classic practice 

of business thinking to consider that a 

market has only two sides: a company 

and a consumer. Now more than ever, 

this is far from the truth. The purchase 

process nowadays is even more 

complex, and that is why differentiation 

is needed more than ever. 

It is crucial to know and understand 

that differentiation is a logical process 

that requires rational thinking and 

clear, specific ideas that make sense in 

relation to the product and the industry 

we are working on differentiating. We 

are not talking about the marketing 

and advertisement campaign, the 

difference should be in the product and 

or service, and that difference should be 

communicated to the market. 

Focus on the idea 

It is important for an 

entrepreneur not to get 

carried away with having 

many things to be different 

about; a company can have 

more than one thing to 

differentiate it from other 

companies, but it should 

focus on one clear idea - to position the 

company in the mind of a consumer. 

A consumer gets exposed to 

overwhelming number of messages 

everyday; too much noise forces 

consumers to be more selective in the 

information they process and keep in 

their minds. It is much easier for the 

brain to remember what stands out 

from others; it is also the notion of the 

mind to consider the specialist better 

in what they do and in what they can 

deliver. Moreover, it is more impactful 

to connect a company with a single 

attribute, as the mind does not like to be 

confused. As I mentioned earlier 

the differentiation factor should be 

clear from the consumer perspective 

and be quantified. 

Have the credentials 

This is an area where many 

companies in this market can take 

advantage. Many companies don’t have 

the credentials to provide customers 

with what they want. In other words 

the level of services and products is not 

where it needs to be which creates an 

opportunity for many start-ups to excel 

in this area. 

It is the norm in this market for 

companies to say one thing and do 

another. As I mentioned earlier, this 

stems from the idea that the selling has 

only two sides to it. I call that the shortsided 

experience; many entrepreneurs 

lack deep and thorough understanding 

of market forces and market influences. 

When working with individual SMEs, I 

found that most challenges are internal 

and not external, which translate 

to lack of credentials, resulting 

in poor customer engagement or 

poor customer experience. 

The struggle of SMEs in 

this region, as I mentioned is an 

internal one; it can be clearly seen 

in their processes, human capital 

management, management 

abilities, target market identification 

and understanding. Such a struggle 

presents itself as a huge opportunity to 

the newcomers into the entrepreneurial 

world; new SMEs can enter into same 

industries as existing companies and 

with better internal processes, thus 

gaining an advantage of operational 

excellence, which is a larger 

differentiating factor. Therefore, a new 

SME is running the same race faster. 

The gap between what companies 

communicate and what they deliver 

add more value to the differentiation 

strategy to separate a company from all 

the noise in the market. 

Communicate your difference 

Opening your doors for business 

It is becoming a 

classic practice of 

business thinking 

to consider that 

a market has 

only two sides: a 

company and a 

consumer. 

Now more than 

ever, this is far 

from the truth. 

doesn’t mean that customers will flock 

in to buy your products or services. 

Being different is essential, but it is not 

enough to sell your product or service, 

the same goes for your target market 

segmentation. Customers need to 

know, first of all, that you as a company 

and as a business exist. They also need 

to know how they can buy from you 

and how they will get the product or 

service that you are selling. In addition, 

they need to know about your offering 

and what value it offers. 

In summary you need to 

communicate with your targeted market 

segment in all possible ways: with a 

clear message about your company, 

simple and logical communication, 

focused on one consistent idea, while 

all communication tools and channels 

should speak the same language 

carrying the same message. 

With all the competition in the 

market and the global changes, the 

world has become a much smaller 

place. The reach of businesses can 

cross borders and different cultures. It 

is more essential now to be different. 

49



Sales Strategy 

Your vital 3 seconds 

They say you never get a second chance to make a first impression. 

Phil Bedford gives you tips on opening up conversations and 

developing relationships. 

Have you ever walked into 

a new group of people, 

networking event, social 

gathering or even a 

meeting and started a conversation 

with someone? Then with no apparent 

reason, you decide you either don’t 

like them, are not comfortable with 

them or you may think they feel like “a 

long lost friend?" 

Depending on this outcome, do you 

think you are more or less likely to do 

business with them; will they want to 

get to know you, or even do business 

with you? 

Harvard studies claim that we 

make these decisions within three 

seconds. That’s three seconds to make 

a first impression and as they say, you 

never get a second chance, to make a 

first impression. In fact, there is a belief 

it is even less now (Books such as 

Blink by Malcolm Gladwell are a good 

follow-up read). 

One of the challenges with this 

three-second timeframe is the person 

you are looking to meet could be 

making these unconscious choices as 

you approach them and even before you 

shake hands. 

It’s hardly fair is it? That someone 

can be making these assumptions when 

they do not know anything about us. 

So, here are some tips that might 

at the least make them more open to 

a conversation where you can prove 

your worth and move on to develop a 

relationship. 

At a fundamental level we are 

comfortable with “people like us” 

- we look for the synergy and our 

unconscious mind says: “I am safe, I am 

comfortable, I recognise myself.” 

Firstly, we need to understand 

that there are four types of behavioural 

styles. This knowledge has been around 

for centuries. This was later refined by 

others, such as Dr. William Marston 

50



Sales Strategy 

An experienced business trainer, Phil Bedford brings over a decade of experience to 

his role as master franchisee for the Referral Institute. His expertise and experience 

of working with both companies and networking associations, coupled with a passion 

for training have helped him immensely. He regularly appears as a speaker in the UAE 

and abroad, educating people on how to build their business by word of mouth and 

“Creating Referrals for Life.” 

into DISC and Dr. Tony Alessandra 

as “The Platinum Rule”. Let’s have 

a look at the four styles: 

‘The Go Getter’ 

They move quickly, talk 

quickly and act quickly and are 

very task focused. They are 

direct and to the point. 

Confident and 

result-driven, this style likes to win. 

There is no place such as second 

place. They want to know what’s in 

it for them in everything they do and 

ultimately what’s the “bottom line”. 

They are great problem solvers, enjoy 

a good argument and can forgive in a 

heartbeat. 

Because they are so confident and 

direct they are often seen as arrogant 

and aggressive, even scary! 

‘The Promoter’ 

This style, like the Go Getter is 

fast paced. However, they are more 

people focused rather than their task 

at hand. They are highly sociable and 

love to be around people. The Promoter 

needs to be having fun no matter what 

they do. They enjoy change and often 

have many things going on at any 

one time. When talking to them their 

eyes will keep dashing around the 

room. Not because they mean to be 

rude but because they don’t want to 

miss anything. They tend to be highly 

connected and will know lots of people. 

You can normally spot them because 

of their huge smile and wild hand 

movements. They are mainly motivated 

by meeting new people, making new 

friends and are great to team up with for 

the more nervous networker. 

They can tend to go off track when 

networking, and often forget why 

they went there because they are so 

busy chatting. They can appear to be 

unprofessional and flippant because 

Styles 

they are so enthusiastic and 

fun loving and especially 

as they often arrive 

late because their time 

keeping is normally a bit 

poor. When awkward 

they will often crack offcolour 

jokes. 

‘The Nurturer’ 

As the name implies, the nurturer 

likes to care for and look after people 

and relationships. They do not like 

change or big groups of people and 

prefer to be “one on one.” They can 

often be overlooked because they may 

be timid and uncomfortable in groups, 

but they are often the people with 

whom you can build the long-lasting 

relationships. They will support you 

to the ends of the earth once proven to 

them. If they are networking at an event 

regularly, they will tend to have a lot of 

belief in the network and may be a long 

standing member. They are motivated 

by helping people. In conversation, 

they like to get to know people and 

will tend not to discuss business. The 

more task driven styles would do well 

to remember this. Relationship first, 

business second, very much like some 

of the people from the Gulf States. 

They may get overlooked by the 

fast “styles” who judge success by dress 

and other more superficial markers. 

They will often not want to try new 

things and tend to miss opportunities. 

Be aware they will often not choose the 

best option for their business because 

they are uncomfortable with the person. 

‘The Examiner’ 

Our examiners like to know 

the reason behind everything. 

They are inquisitive and 

will spend all their efforts 

making things perfect. 

They like things to be done 

properly and professionally. They seek 

efficiency and perfection in all they 

do. Like the Nurturers they are more 

deliberate (or slow) and take their time 

thinking and acting. 

Unlike the nurturer, they are 

very task focused and are often 

uncomfortable with relationships 

and people. Hence, finding them at a 

networking event is often only because 

they have researched it and know that 

this will help them hit a business goal. 

They will often leave as soon as they 

can. You will often see them moving 

out of and away from any big groups. 

When shaking hands they may have an 

outstretched hand to keep people at a 

distance. Personal space is important 

to them. Discussions should be around 

business and efficiency. Personal 

family questions and complements will 

not go down so well. They also do not 

trust people who smile too much. 

Newsflash! All styles can be good 

at networking. It’s about learning how 

to maximise the strengths of your style. 

How to adapt 

Some basic tips would be “mirror” 

or copy the other person’s speed, words 

and mannerisms. Discuss what they 

want to talk about based on their style. 

Remember; treat people as they want to 

be treated. 

Further studies on the subject 

The Platinum Rule -online assessment 

www.platinumrule.com 

Room full of Referrals 

www.referralinstitute-me.com 

“Treat people how they 

want to be treated” - The 

Platinum Rule, Tony Alessandra. 

51



Corporate Governance 

Getting started on the 

corporate governance journey 

John Merrigan outlines basic concepts of corporate governance that 

can be easily understood. 

Most leaders and 

entrepreneurs I have 

met totally understand 

the benefits of good 

corporate governance for their 

business. But why do relatively 

few succeed in implementing it 

successfully? This is the story of the 

Carpenter, Entrepreneur, Shamrock 

and Adviser. 

On the face of it, they have little 

in common, but I hope, in the next 

few minutes, it will inspire you to 

commence on the journey of corporate 

governance, and more importantly to 

continue it as your business grows and 

prospers. 

Carpenter 

A key problem with the concept 

of corporate governance is the term 

52



Corporate Governance 

John Merrigan is a seasoned senior manager and company director with extensive 

experience in wide-ranging industry sectors. His career spans more than 25 years 

in multinational, SME and family businesses, internationally and in the Middle East 

Region. He advises and supports small and medium organisations to successfully 

implement fit-for-purpose strategies in corporate governance. 

itself. The words conjure up images of 

bureaucracy and administrative burden 

that generally succeed in creating 

misunderstanding, fear or just plain 

resistance. This is where the Carpenter 

comes in. 

My grandfather was a master 

carpenter and he lent me one phrase that 

I use every day in business: “Measure 

twice, and cut once.” Amongst all the 

definitions of corporate governance, 

this for me is the essence and most 

understandable. It is that second 

measure or extra validation before 

acting that leads to good decisions and 

fewer mistakes. Measuring twice as 

much as you act is a sound ratio to take 

profitable actions in your business. 

Corporate governance simply 

ensures that there are procedures, 

policies and controls in the business 

to create the “second” measure, 

both written and more importantly 

culturally, like the habits of a skilled 

craftsman. 

Entrepreneur 

In his book The E-Myth 

Revisited, author Michael 

E. Gerber describes why 

many small enterprises don’t 

work and what to do about 

it. He describes three central 

characters in each business: 

the entrepreneur who supplies the 

vision, the manager who supplies 

order and systems, and the technician 

who supplies the output or products. 

I have never seen a single individual 

who combines all three skills. Trying 

to be all three is frustrating, inefficient 

and potentially fatal for the business. 

So, this is the simple but profound 

insight: recognise this personally and 

focus your own strengths and those 

of your team. Corporate governance 

is connected to the vision of the 

company, led by the entrepreneur, 

Corporate governance is connected to the vision of 

the company, led by the entrepreneur, but success 

requires others to make it happen. 

but success requires others to make it 

happen. It is a team effort with each 

member contributing their skills and 

perspectives. 

Shamrock 

Apart from being a national 

emblem of Ireland, my home country, 

the Shamrock also combines a form 

that comprises three leaves in one 

cluster. This also symbolises three 

components in the journey of corporate 

governance. 

Firstly, the governance framework 

equates to say, 25 per cent of the 

task, consolidating formal written 

procedures and policies on operation of 

the board and management structures, 

succession planning, financial and 

business reporting, delegation of 

authority, and if applicable, the 

family council. 

The second 25 per cent is 

stakeholder engagement; a critical 

process that ensures all levels of 

the organisation are involved, 

and that there is an appropriate 

change management to re-align the 

business stakeholders. This phase 

often involves deep soul-searching, 

sometimes conflict, and requires great 

skill, patience and determination. 

The remaining 50 per cent is 

implementation, based on a clear 12-24 

month plan, with regular milestones, 

accountability and updating (it never 

ends). All these elements are essential 

to start and sustain your corporate 

governance journey. 

Adviser 

In my experience, the corporate 

governance journey will only be 

effective by engaging outside help 

- this is the role of the last character, 

the Adviser. An independent 

external adviser will bring fresh 

perspective, momentum and expertise 

that is essential for good corporate 

governance. Selecting the right one 

is vital, based on personal chemistry, 

integrity, proven track record and 

relevant skills. Again, my grandfather’s 

advice to measure twice and cut once 

will be in your mind when you do so. 

When that selection is made, consider 

corporate governance as a discrete 

project in the start-up phase, and define 

up front the scope, the fixed project 

fees, milestones, project deliverables 

and the terms around confidentiality of 

business information. 

At the end of the engagement of 

around 6-8 weeks, you should emerge 

with a formal corporate governance 

framework and a 12-month action 

plan. Form a small team along with 

the adviser to implement and review 

regularly. You will be amazed how 

quickly progress is made. 

I hope the four central characters 

in the story have helped to simplify 

the journey of corporate governance 

and will have inspired you to make 

a start on one of the most important 

aspects for the long-term success of 

your business. The Carpenter’s words 

will keep it simple and fit for purpose. 

The Entrepreneur (or Owner) needs to 

focus on his or her strengths and build 

the team around them. The Shamrock 

shows three parts of the journey to 

success, and the Adviser brings outside 

expertise and momentum. 

Start today and make corporate 

governance work for you!! 

53



Business Management 

The power of planning 

What cannot be measured cannot be managed! 

V. Ramkumar delves into the core of a business 

initiative- its planning. 

If you are failing to plan, then you 

are planning to fail! So simple in 

its expression, yet the potency of 

this statement possibly reflects the 

core reason for billions of dollars that 

are pilfered globally. 

If an organisation does not have a 

plan, then it has no means to measure 

if it is progressing - and what cannot 

be measured, cannot be managed as 

well! Core of any enterprise, business 

initiative, or even the regular 

day-to-day operations is the efficacy of 

planning. It only becomes more critical 

in the context of SMEs where the 

enterprise has limited resources which 

have to be managed carefully. 

Planning is not an isolated activity, 

but needs to be an integral part of 

any enterprise, venture or initiative. 

This is at a macro level - for the 

overall business, and also at a micro 

level - for the individual running the 

business. It has to reflect the vision 

of the organisation from a long-term 

standpoint, and still needs to have an 

annual, quarterly and monthly target. 

Similarly, at an individual level, one 

should be cognisant of his or her 

performance measurement at the end of 

a year, and also should have a 

day-to-day planning calendar that lists 

down the to-do list for the day. Let us 

explore a little, from two perspectives: 

planning for the enterprise, and 

planning for the individual. 

Planning for the enterprise 

More often than not, this tends to 

become a simple financial target setting 

process, and worse still, sidelined to 

become an accounting exercise at the 

end of the year, where the targets are 

increased by a percentage of previous 

year’s performance. In reality, this has 

to be much more than just a financial 

plan - it also needs to set the objectives 

for the enterprise on what will be 

54



Business Management 

V Ramkumar is senior director at Cedar Management Consulting International LLC, 

a US based management consulting firm whose heritage includes being part of 

the firm founded by creators of the Balanced Scorecard. Ram has over 17 years of 

management consulting and strategic transformation experience. He can be reached 

at v.ramkumar@cedar-consulting.com 

achieved, delivered through which 

initiatives, to be executed by whom, 

and by when. 

The Balanced Scorecard 

framework helps facilitate this to be 

defined in a structured and holistic 

manner, across four perspectives: 

Financial: If we succeed, how will we 

look in terms of revenue, growth and 

profitability? 

Customer: How do we want customers 

to view us in terms of price, service, 

and quality? 

Process: To satisfy our customers, what 

management processes must we excel 

at - cycle time, productivity, costs, etc? 

Organisational: To achieve our vision, 

how must our organisation learn and 

improve - people, technology, climate 

for action, etc? 

While the above sets the business 

plan in terms of objectives that need 

to be established, it has to be aligned 

with the set of initiatives that the 

enterprise must be engaged in, and the 

responsibilities that must be bestowed 

on key people from within the 

organisation. The objectives are their 

direct responsiblities, initiatives that 

will deliver these objectives, and by 

when these are to be achieved. Defining 

quantifiable measures that can track 

the progress is integral to this planning 

process, as it then helps effectively 

monitor the progress. 

While this helps in defining the 

organisational objectives for a medium 

to long term period, the more short term 

measurement is driven by the targets 

and performance reviews, which are 

obviously broken down from the 

overall annual targets. The key here is 

in ensuring that the tracking is not just 

in terms of the financial objectives and 

Defining quantifiable measures that can 

track the progress is integral to this planning 

process, as it then helps effectively monitor 

the progress. 

aligned initiatives, but that they reflect 

all the four perspectives - which is how 

you ensure it is a ‘Balanced’ Scorecard! 

Planning for the individual 

How many of us define a plan 

for the year, let alone for the day, and 

reflect back at the end of the day on our 

performance? The answer lies in the 

list of New Year resolutions that went 

by without a murmur into the oblivion! 

Now, while that may still be seen as a 

personal wish-list, it is imperative that 

for every professional to have a well 

defined set of objectives and plan for 

execution for the long-term, medium 

term and even for the day! 

A well-designed performance 

management system of any 

organisation ensures that the enterprise 

objectives, as defined in the 

Balanced Scorecard, 

dovetails into that of the 

individual performance 

measures of its 

employees. Now that 

in itself helps bring in 

clarity to what needs 

to be achieved by the 

individual, and the means 

through which this ought to 

be achieved. More importantly, 

there should also be clarity on how one 

defines the successful achievement 

or execution of the stated objectives 

- which is defined by quantified 

measures that are in direct control of 

the individual and 

related targets. 

At an even more operational 

level, I have seen successful senior 

executives have a very structured 

approach to defining their daily 

activities, and ensuring there is time for 

executing everything. And the secret 

is in spending the first 15 minutes of 

your day in listing down the to-do for 

the day, and in prioritising it. The issue, 

then is, how do you prioritise the list? 

Generally, the thumb-rule to 

follow is to categorise the list into 

four quadrants of the page, classified 

by sense of urgency and sense of 

criticality. Obviously, those that are 

both of high urgency and criticality 

assume the highest priority, followed 

by those with high urgency but less 

criticality. The trick is in appropriately 

classifying the list of things to do, in 

a manner where not everything is 

urgent! 

A last word on successful 

planning: you do not need 

to have a 100-page plan 

for any initiative to be 

successful. As long as the 

plan is precise, is holistic 

and provides clarity, any 

plan is good to go. There will 

always be a course correction to 

the plan as visibility increases through 

its execution. 

However, just because the plan 

is “expected to undergo a change,” 

refraining from making the plan in the 

first place is a recipe for a disaster. Now 

go back to the first paragraph of this 

article - are we still surprised?! 

55



Business Law 

Making yourself ‘secure’ in 

the Middle East 

Living and working in the Middle East is a treat, but it could easily turn 

into a tragedy in the event of unexpected death, writes Nita Maru. 

56



Business Law 

The author of this article is Nita Maru, solicitor and founder of legal consultancy firm, 

The Wills Specialists, licensed by Dubai Legal Affairs Department and The Rulers Court, 

Government of Dubai. The Wills Specialists is located in 1305, Saba 1 Tower, Jumeirah 

Lakes Towers, Dubai. Nita can be contacted at 04 448 4284 or by e-mail at nita@willsuae. 

com. Visit www.willsuae.com. 

Oft-repeated concerns 

about safety and security 

in the Middle East are 

traditionally associated 

with safeguarding human lives. What 

many expatriates living in the region 

often don’t remember or recognise is 

the more pertinent aspect of protecting 

posthumous life. 

An unexpected death is one of the 

most devastating things that can happen 

to any family, anywhere in the world. 

But imagine if, in its wake, there are 

troubles and traumas ranging from 

bank accounts being frozen to 

family assets being distributed to 

warring factions. 

After a lifetime of planning how 

to make money and managing the 

wise spending and saving of all your 

wealth, death puts a full stop to all these 

decisions. If you have struggled to 

build up your assets, want to preserve 

and grow your riches, and ensure that 

your family enjoy its full benefits, it is 

important to know about the instrument 

to achieve these goals. 

For expatriates living in Dubai, or 

in most places in the Middle East, there 

is a pressing reason to make a proper 

will. The Dubai Government’s official 

website states that ‘the UAE Courts will 

adhere to Shari’ah law in any situation 

where there is no will in place’. This 

just means that if you live and work 

here, and you die without having made 

a will, the local courts will examine 

your estate and potentially distribute it 

according to Shari’ah law. 

While this may appear risk-free or 

even pleasing in theory, its implications 

and implementation may not prove 

very practical. Shari’ah prescribes to 

a set method of distributing a person’s 

wealth after death, and this is based 

on Islamic principles which are biased 

towards the men in the family. For 

instance, a wife who has children 

After a lifetime 

of planning 

how to make 

money and 

managing the 

wise spending 

and saving of 

all your wealth, 

death puts a full 

stop to all these 

decisions. 

qualifies for only one eighth of the 

entire estate, and without a legal 

will, this distribution is 

automatically applied. 

Unpaid bills, debts and mortgages 

do not automatically die with the 

death of a person. All personal 

assets, including bank accounts of 

the deceased, are seized and frozen 

until such time liabilities have been 

discharged to the satisfaction of the 

courts. Application of Shari’ah law is 

particularly pertinent in circumstances 

where the deceased is under the 

sponsorship of his or her spouse and 

has a joint bank account or shared 

assets (cars, rental agreements, freehold 

homes). These may be frozen until the 

issue of inheritance is determined by 

the local courts, and surviving family 

members are often left without access 

to money until the authorities decide 

how the estate should be distributed, 

which could take months or even years. 

Distribution under Shari’ah law 

tends to be at odds with what most 

expatriates would have intended. Dying 

intestate could leave a great deal of debt 

unpaid - and cause endless grief on the 

legal front - until the estate is finally 

dealt with by the UAE Courts, and the 

family’s ongoing financial requirements 

are met. 

Not only does the absence of a will 

affect the family financially, but it can 

also goad the authorities to intervene 

concerning guardianship of bereaved 

children. This is especially true in 

cases where death befalls both parents 

simultaneously. Unless a will specifies 

arrangements which members of your 

family or friends should raise your 

children, there is a possibility that their 

care may be entrusted to other parties. 

In summary, if you live and die in 

Dubai and don’t have a will, you simply 

cannot be sure what happens after 

your death: whether your family will 

be provided for, who will look after 

your business, and when and how your 

beneficiaries will actually 

stand to benefit. 

The consequences of not having a 

will are not restricted to the uncertainty 

of how an estate is distributed, but also 

implies hefty legal fees, the length 

of time for eventual settlements and 

emotional upheavals. 

Protection of family legacies in 

the Middle East is a complex, 

complicated, and often underestimated 

area of the law, and as a team of 

lawyers dedicated to this business, 

we have seen Shari’ah law operate in 

completely different ways from the 

laws of various other nations. 

Many expatriate families continue 

to harbour the notion that living and 

working in the Middle East is a treat, 

but they forget that it could easily turn 

into a tragedy in the event of unplanned 

death. While the concern of ‘securing’ 

lives is misguided at most times, 

secure planning for the future is most 

definitely a must. 

57



Leadership 

Tribal tips for leaders 

Michael Tolan explains classic traits to guide a business leader 

through challenges. 

Ask any entrepreneur what is 

the most important quality 

they must exhibit to drive 

their vision and reach their 

goals and you will, no doubt, hear 

a litany of responses ranging from 

determination to strategic thinking. 

Several research-based studies 

on this question have pinpointed 

classic traits to guide the leader of an 

organisation through the testiest of 

storms and challenges. 

Some of these were highlighted 

quite by accident due to a failed 

promotional launch of a fashion line by 

Victoria’s Secret, the high-end lingerie 

makers. It was revealed that a protest 

was instantly levied against Victoria’s 

Secret, by the Native American 

community leaders, who took offence 

to their use of a traditional feathery 

headdress on a supermodel, wearing 

next to nothing else. The revered 

headdress is typically reserved for the 

most honoured members of the tribes. 

To understand why this offended the 

Native Americans on the surface, it 

seemed that it was considered racist and 

insensitive. 

However, the deeper meaning 

revealed an insight to leadership that 

must not go unnoticed for leaders 

today - serendipity. The traditional 

tribal headdress was laced with bird 

feathers, and was worn by the most 

respected members of the tribe. They 

varied in size and color, using feathers 

from birds that were indigenous to that 

geographical region. The feathers were 

not merely decoration; they were and 

are symbols of recognition. 

They could only be earned. Tribal 

leaders earned feathers through acts of 

bravery, honesty, and benevolence, in 

other words, good deeds. 

Therefore, the leaders with the 

most amounts of feathers ‘earned’ 

were imbued with the highest amount 

of respect. They had a code, and this 

code modelled the way for all others 

in the tribe to know that these were 

the behaviours of sustainability, 

survival and respect. One could only 

humorously imagine the reaction of 

tribal members if, one day, the chief 

addressed his followers and said: “This 

is Dave; he has worked with a famous 

printing company for five years, and his 

company just acquired the rights to our 

land; so, he is our new leader.” 

58



Leadership 

Michael J. Tolan is a speaker, writer and corporate mentor and board advisor to 

several organisations. He is the creator of Mission I’m Possible series of motivational 

workshops through FirePowerLeadership.com and is the Chief Inspirational 

Officer of the World Class Academy of Excellence (Follow him on Twitter mtolan@ 

worldclassgroup). 

If at that point they were to look at 

Dave, and inspect his bald head, how 

much respect, based on their culture 

could Dave expect to garner? 

None. Why? Simply because apart 

from this being a ridiculous scenario, 

no respect could ever be given to any 

person until they have earned it. 

As we fast-forward to the 

challenges facing leaders in 2013, what 

will leadership require over the next 

year and beyond? Are people today 

really so different? Let us put this 

question to the test. Start with your 

suppliers. When any business first starts 

its operations, do they immediately 

receive unlimited lines of credit from 

every supplier? 

Of course not, suppliers will be too 

eager to take on new business with new 

partners, but these new partners will 

be obligated to succumb to the rules, 

procedures and policies of the supplier. 

Why is this? 

The new business has not earned 

enough feathers; it is untested and, 

therefore, will most likely be compelled 

to follow the policies of the supplier for 

payment conditions, volume discounts, 

and so on. Cash will be trading 

commodity, not trust, nor respect. 

So, how can a start-up leader 

change this paradigm? By building 

relationships, executing their business 

with the supplier according to the 

required policy and over time, earning 

trust as a reliable partner. 

While every business has its 

variations on strategy, pricing, sales 

channels, cash flow management, it 

seems apparent that apart from instant 

commercial success, a business leader 

must take the golden steps toward 

nurturing key relationships, adding 

value and earning respect. 

Now the tribal leaders and the 

modern day ‘C’ level executives are 

on the same playing field. Respect is 

As the leader accepts 

these responsibilities 

as not only duties, 

but also a way of life, 

they will begin to 

gain momentum, and 

build life credits for 

themselves. 

the most fundamentally important 

product that a leader can manufacture. 

Great leaders understand that this 

product must be freshly squeezed daily; 

there is no artificial alternative. They 

understand that, their suppliers are 

partners in waiting, as are the people 

they assemble on their team. 

Leaders like it or not, are always on 

the stage of judgment. Their behaviours 

are always noticed, as are their moods 

and attitudes. The people who entrust 

their futures to their bosses have always 

behaved the same whenever that leader 

has betrayed trust with them, the 

market, and the customer base, deserts 

them. Ask yourself the question; if 

you were an employee of a business 

that had a leader who proved him or 

her to be less respectable and below 

standards, could you confidently go to 

your bank for a home loan? 

Leaders do not have the luxury 

of living and behaving like normal 

everyday people who can occasionally 

lose the plot, get angry with others, 

display animosity and be spiteful or 

even hurtful. 

A great leader knows that their 

team members are in fact their 

suppliers. This takes more than just 

an understanding of the concept 

of continuously earning trust and 

respect; it requires a deep resolve of 

commitment and personal sacrifice. 

How can leaders today then, gain from 

the wisdom and experience of great 

and fallen leaders? Micro-focus and 

practise these principles: instill in 

themselves a deeper desire to achieve 

their goals to the point where they not 

only desire this positive outcome, but 

also can visualise it with all their heart. 

This defines a meaningful life. 

Understand that the people around 

them will naturally need to be inspired, 

often, daily, by being able to look up 

with pride to the person at the helm. 

Decide to become the beacon, the 

example, the model that speaks through 

action and deeds. Embrace the notion 

that respect must be freshly squeezed, 

daily, so that others will be nourished 

and feel secure that they too are on 

the right path. Be bold enough to ask 

why not, and to be ready to take apart 

a process and re-engineer it through 

innovation and by collaborating with 

others in their camp. 

Give strength to others by 

rewarding them with a publically 

recognisable feather of achievement, 

sending the smoke signal to others that 

it pays to participate with zest and zeal. 

As the leader accepts these 

responsibilities as not only duties, but 

also a way of life, they will begin to 

gain momentum, and build life credits 

for themselves. And no matter how 

good things were yesterday, the true 

leader knows that from today, they can 

go anywhere when they take on the 

qualities of great leadership and put 

them into daily practice, from sunrise 

to sunset. 

If these principles are followed 

then it will be easier for all of the 

members of the tribe…to follow the 

leader. That is, the naked truth. 

May all of your actions and deeds bring 

you many feathers. Go native. 

59



Leadership 

Anti stress ball 

7 ways to reduce stress in 

your life 

Anesh Jagtiani gives strategies on leading a fruitful and 

peaceful lifestyle. 

60



Leadership 

Anesh Jagtiani is the CEO of Empowering Leaders Group (M. E). He is a professional 

speaker and trainer. His leadership programme helps managers motivate and retain 

their top people, improve their effectiveness in communication and maximise the 

bottom line of companies. He is also a TV anchor of a show called TOP GUNS on ZEE 

TV where he has interviewed the 12 most successful Indian entrepreneurs of UAE. He 

can be reached at anesh@elgme.com or www.elgme.com 

Did you know that too much 

stress can cause problems 

with your metabolism 

which can have a dramatic 

effect on your physical and emotional 

health...and your longevity? 

Let's face it, most of us hate 

having excess stress in our life... but 

how often do we really think about the 

fact that stress could be killing us? 

If this concerns you, and you're 

looking for a strategy for eliminating 

90 per cent of the stress from your 

life, then this might be one of the most 

important articles you'll ever read. 

What you're about to learn are seven 

strategies which you can use to reduce 

the stress in your life: 

Low media diet 

It's no mystery to anyone that the 

majority of information which comes 

through the media is negative and 

causes fear and worry. Yes, it's good to 

stay connected to the outside world, but 

a lot of the information which the 

media is delivering to us is filtered 

according to what sells. Since bad news 

sells better than good news, too much 

influence from the media is exposing 

you to a negative view of the world 

which isn't fully grounded in reality. 

Eliminate toxic relationships 

Your relationships have probably 

the most profound influence on 

the quality of your life, and toxic 

relationships can be a source of 

extreme stress. 

If you have people in your life 

who are obnoxious, controlling, 

disrespectful or unnecessarily 

intimidating, either get them out of 

your life or start drawing some strict 

boundaries with them to vacate their 

influence from your life. 

Get a "rainy day fund" 

Financial worries can rob you of 

your happiness and security almost 

quicker than anything else. Start setting 

aside 10 or 20 per cent of what you 

make for the sake of building up a 

"rainy day fund." In other words, 

you've probably heard that it's wise to 

save money for a rainy day, meaning 

for any emergencies that might come 

into your life. Having three or four 

months of expenses set aside will make 

it much easier for you to deal with 

financial stress and job stress. 

Proper nutrition 

The body's ability to cope with 

stress is greatly hindered by poor 

nutrition. Start making a commitment 

to cut unhealthy fats and preservatives 

out of your diet and to keep sugar and 

sodium consumption to a minimum. 

Then, begin replacing these with foods 

which are natural and which have a 

positive impact on your metabolism. 

This will make it much easier for 

your body to deal with physical and 

emotional stress. 

Physical activity 

The body's ability to cope with 

stress is also greatly determined by 

your level of physical activity. 

Research reveals that consistent 

balanced exercise such as 

cardiovascular three times a week, and 

two or three strength training sessions a 

week builds up your body's resistance 

to stress- both physical and emotional. 

A good exercise routine also helps your 

body to get restful sleep and helps you 

to focus for longer periods of time. 

Meditation 

Meditation is the best way 

to cleanse your mind and it helps 

Let's face it, most of 

us hate having excess 

stress in our life... 

but how often do we 

really think about the 

fact that stress could 

be killing us? 

eliminate obsessive thoughts which 

worry you unnecessarily. Meditation 

also gives you an opportunity to 

focus your attention on developing 

practical plans of action for getting 

what you want and for creative problem 

solving. You don't even need to 

meditate 30 minutes to an hour a day. 

Simply start with 10 or 15 minutes and 

practice it until it becomes a habit. 

Get a pet 

This is especially good advice if 

you are single, but studies also show 

that couples who have pets have a 

better chance of having a healthy 

relationship. Pets add a great 

deal of joy to your life because their 

love is unconditional and they are 

always there when you need them. 

Having a pet also gives you a 

greater sense of purpose in your life 

because you have something counting 

on you for survival. 

TIP 

Work on each of these 

seven steps one at a time 

until you have eliminated 

these sources of stress 

from your life. 

61

The Gulf Finance SME Cup 

at Emirates Golf Club 

Entries for the inaugural Gulf Finance SME Golf Cup are now open. Dubai’s SMEs are invited to enter this exciting 

corporate team golf event taking place over the coming months at Emirates Golf Club, offering SME companies a 

unique platform to establish new business opportunities. 

Corporate teams of four, compromising of a minimum of two employees, select two of the four qualifying rounds 

to try and secure a place in the Grand Final, where the top 24 teams based on the aggregate total of the two 

qualifying rounds will compete. Each team member must have a valid handicap. 

Fixture Location Date Time 

Qualifying Round One Faldo Course Monday 19th November 2012 1pm shotgun 

Qualifying Round Two Faldo Course Monday 17th December 2012 1pm shotgun 

Qualifying Round Three Faldo Course Monday 14th January 2013 1pm shotgun 

Qualifying Round Four Faldo Course Monday 18th February 2013 1pm shotgun 

Grand Final Majlis Course Thursday 18th April 2013 1pm shotgun 

Tournament Fees 

AED 3,500* per team of four and AED 3,200* for companies registered with Dubai SME 

*entry fees include two qualifying rounds (eight green fees), four team shirts, dinner buffet on the Clubhouse 

terrace at both qualifying rounds as well as four places at the Gala Dinner regardless of qualification. 

For further information and to enter your team, please email JDanby@dubaigolf.com 

Title Sponsor 

in collaboration with 

Official Magazine

THOSE WHO MADE A MARK. 

WOMEN 

ENTREPRENEURS



Women Entrepreneurs 

Mitwalli has gone through 

the entire cycle of 

entrepreneurship from 

the hardest times of being 

the last in the chain of getting paid, 

being constantly self-motivated, to the 

rewarding moments of being able to 

focus on both her business and further 

an alternate career. 

She has learnt to bravely take 

risks and surrounded herself with 

mentors who are delighted in her 

professional growth. 

ISME: Explain The Female Network. 

SM: The Female Network is an 

interactive platform for women from 

all walks of life. It is one of the only 

networks in the Middle East that 

can show off such large interactions 

among members. We support women 

and provide them with information 

that they can use in various spheres of 

life, such as beauty, fashion, lifestyle 

and career, and cooking. The aim of 

The Female Network is to motivate, 

inspire and educate women in a fun and 

dynamic environment. 

ISME: What is the response you 

have received? 

The Female Project 

Shereen Mitwalli is an Australian-born finance 

major who ventured into entrepreneurship 

when she was only 24 years old. Running a 

successful business in Australia, and living in 

Dubai, she gave ISME an account of her latest 

online venture - The Female Network. 

SM: Since the launch in July 2012, 

our page on Facebook has generated 

more than 8000 likes, which means 

there has been a great response. In fact, 

the feedback that we have received 

has been overwhelming. With this 

particular network, we’re trying to 

provide an umbrella of services that 

encompasses different aspects of life. 

The concept is a dynamic one, and 

more importantly, we’re trying to give 

people a voice. In this new age, women 

want to be heard, and this space caters 

to that need. We aim to be the number 

one source of information in the UAE 

for women. 

ISME: How is The Female Network a 

platform for women to be heard? What 

services do you provide? 

SM: Being a page on a social media 

network, it is crucial to have constant 

64



Women Entrepreneurs 

interaction among members. If fans are 

not sharing, or even reading updates, 

they are not utilising the content and, 

therefore, it defeats the purpose. We 

focus on content that people want 

to know about and share with their 

friends and family. Our members are 

allowed to post job vacancies that need 

to be filled, or write to us for a little 

extra help in promoting their business. 

We know how it is for a start-up and 

would like to help as much as possible. 

So for instance, if a business needs 

to be promoted or a product needs to 

be tested, then we offer to promote 

the business with the help of online 

contests, or give the members an 

opportunity to try out a product and 

give their feedback. We aim to have 

20,000 fans by March 2013. 

ISME: What are the next steps in The 

Female Network growth ladder? 

SM: We need to take a qualitative 

approach to the content we are 

providing. We’re soon going to be 

launching a website, whereby 

we’ll be able to collect data on our 

members qualitatively. Then we can 

begin segmenting and find out exactly 

what content they would like to read 

and share. 

The website would also have a 

classified section where people can post 

their job listings absolutely free. These 

also become feeds for our Twitter and 

Facebook pages. We’re also in the 

process of finalising four contributors 

in fashion, beauty, lifestyle and career, 

and cooking. These contributors would 

be the faces of The Female Network 

and will be highly respected, prominent 

figures that influence a huge number of 

women through blogs and short videos 

among other content. 

ISME: Being a networking platform, 

would there be face-to-face interactions 

in the future? 

SM: Absolutely, we’re going to launch 

monthly events from December 2012 

that will bring women together, get 

them to learn something new and 

socialise. It’s going to be educational 

and very interactive. We’re also 

The aim of The Female 

Network is to motivate, 

inspire and educate 

women in a fun and 

dynamic environment. 

working on a VIP membership that 

will, for a nominal fee, offer more 

services and networking opportunities. 

Our segmentation of fans would yield 

ideas for the nature of topics that would 

interest our members at each event. 

ISME: How do you market The 

Female Network? 

SM: Currently, we are a three-member 

team, but we’re in the process of 

embarking on a full-fledged marketing 

campaign. Conventional methods of 

marketing do not suit this business 

model, hence we use a lot of social 

media marketing on Facebook and 

Google, and the news gets around 

by word of mouth. Women play a 

huge part in The Female Network. 

A networking group such as this 

becomes a very interesting platform for 

advertisers who want to influence this 

group of women. 

ISME: How do you streamline your 

business and The Female Network, 

whilst pursuing your present career? 

SM: In the beginning, while setting 

up my first business, it was difficult, 

but over the years, one learns how to 

streamline work. I think it has a lot to 

do with the trust factor. I have a great 

team with me. I get my micro-detailed 

reports on a daily basis. I handle the 

financials of the business in Australia. 

We compare dates from the previous 

year to this year to measure progress. 

An online business is much easier 

to measure as all the statistics are 

available online. As I’m not involved 

in every little detail, I’m able to devote 

more time to strategy and planning for 

that business; even introduce a few 

marketing techniques from this market. 

The Female Network is a lot of 

fun. I love connecting with other 

women myself and providing them 

with content and information that will 

ultimately impact on their lives. I’m 

investing in this platform now and 

building it to become investable in 

the future. Being an online business 

model, we don’t need our activities to 

be confined to an office. The staff has 

the luxury of working from home and 

I’m not the kind of person who needs to 

be in an office to be productive. I don’t 

micromanage as I’m result-oriented. 

My philosophy has always been: as 

long as we’re using the power of the 

internet, we don’t even need to be in 

a country to provide services to the 

people residing there. 

ISME: What advice would you give to 

new start-ups and entrepreneurs? 

SM: The UAE market is very different 

from Australia in terms of social 

demographic, purchasing power, 

budgets and so much more. My advice 

to business owners is - Have a strategic 

plan and JUST DO IT! Procrastination 

kills ideas. Have good mentors around 

you that you respect and admire in 

business and set up monthly meetings 

with them to review your progress 

and get their input. I always surround 

myself with mentors who are far more 

successful than me. 

Another great idea is to break down 

long term targets into monthly, weekly 

and daily targets to help achieve them 

easily. Have fun in your business and 

don’t look at it as a ‘JOB’… this was 

the biggest advice I picked up from 

interviewing Richard Branson. 

If you love what you do… the results 

will come! 

ISME: What are your long term plans? 

SM: I have so many plans! I’m 

looking at impacting as many people 

as possible, and this will come through 

media and communications. We will 

be starting our video segments through 

The Female Network. In addition I 

have my own TV show, which is being 

produced around entrepreneurship and 

business success. 

65

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Interior 

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Yogesh Mehta 

MD, Petrochem Middle East 

October 17, 2012 

Osman Sultan 

CEO, du 

November 21, 2012 

Dr. B.R. Shetty 

CEO, NMC Group of Companies 

Stay tuned. January 2013. 

Up close & Personal 

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Register free: www.dubai-gbs.com 

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Only by invitation to entrepreneurs and senior executives



Emirates NBD Global Business Series 

Yogesh Mehta, managing director, Petrochem Middle East, graced 

the first Emirates NBD Global Business Series with his presence as 

chief guest. 

1st Edition 

Yogesh Mehta 

MD, Petrochem 

Middle East 

17.10.2012 

The concept behind the ENBD GBS is to have personal 

interactive sessions with iconic business leaders who can lend 

insights to the business community. 

Mehta was felicitated by Dubai SME CEO Abdul Baset Al Janahi, for his contributions 

to the business community. 

He was also felicitated by Vikas Thapar, head of business banking, Emirates 

NBD and general manager of Emirates Money. 

Many facets of Mehta's life were discussed from childhood to his days of being a start-up to becoming a billionaire. He recalled his days of despaire and his journey to 

becoming a successful entrepreneur. He emphasised that every entrepreneur has to be passionate about what he or she is doing, in order to excel in his or her entrepreneurial 

journey. 

74



Emirates NBD Global Business Series 

Osman Sultan, CEO, du, was the chief guest at the Emirates NBD 

Global Business Series. 

2nd Edition 

Osman Sultan 

CEO, du 

21.11.2012 

Sultan is a true visionary with insightful thoughts on 

leadership and business acumen. 

He was felicitated by Vikas Thapar, head of business banking, Emirates NBD 

and general manager of Emirates Money. 

Sultan gave an up close and personal account of his professional and personal experiences of 

leaving a war torn country, to working with Fast Telecom, Mobinil and finally, du. 

Calling himself an architect, Sultan is one of those business leaders who are also thought leaders. He sees the change in the technological world a positive development and 

sees how best he can adapt himself to it. He also predicted the power of the mobile phone, that of becoming a tool of the masses and not in the hands of the wealthy few. He is 

credited with the rise of du telecom as a successful brand in the market. 

75



Intelligent Talk 

Ben Constance, senior associate in the corporate and 

commercial group of Taylor Wessing gave a talk on the 

journey of going public, at the Intelligent Talks by Intelligent 

SME. The event was held at Business Village, Deira. 

Going the IPO way requires many considerations and a good understanding of the stock 

exchange policies, Constance emphasised. The session focused on reasons for listing, 

conditions for listing and preparation of a prospectus. He gave an idea of the background for 

listing and the reasons for listing, while familiarising the audience with the popular jargon used 

in the listing process. 

He emphasised that listing requires fair reorganisation of a company, and the appointment of 

sponsors, lawyers, accountants, share registers, printers and PR agency. Since this is an expensive 

proposition, it is beneficial to plan 12-18 months ahead, he added. 

76



Intelligent Talk 

Lincoln gave succinct points on the secrets of hiring and firing, 

cash flow and sources of funding, marketing to women, pricing 

strategies and tactics, and sustaining a business, among others. 

He added that SMEs start up their business and projects based on 

opportunistic decisions as opposed to strategic decisions, without 

thinking about sustainability and growth, which may lead to failure. 

John Lincoln, vice president - marketing (enterprise segment), gave a talk to business owners 

on 'Connecting the Dots' in the course of doing business at the Intelligent Talks by Intelligent 

SME. The event was held in Business Village, Deira. Connect the Dots is also Lincoln's recently 

published playbook for business owners. The publication is is an everyday pocket guide to 

surviving and flourishing in a business. 

Lincoln's business knowledge spans from a truly global 

perspective. He also advised business owners to give special 

attention to the way their company lent an experience to the 

consumer. "The experience is the proposition," he added. 

78



Events Calendar 

Networking opportunities 

Important business events across the globe 

ABU DHABI INTERNATIONAL 

MOTOR SHOW 2012 

Date: December 19-23, 2012 

Venue: ADNEC 

The Abu Dhabi International 

Motorshow will feature the latest and 

best vehicles from around the world, 

with all the big names in passenger 

cars and automobile accessories being 

present. 

www.admotorshow.com 

STEELFAB 2013 

Date: January 14-17, 2013 

Venue: Expo Centre, Sharjah 

SteelFab is the most-attended and 

highly anticipated trade fair that caters 

to the regional metal working, metalmanufacturing 

and steel fabrication 

industry. 

www.steelfabme.com 

INTERSEC DUBAI 2013 


Venue: Dubai International 

Convention and Exhibition Centre 

Interest in new technical solutions 

is growing to a greater extent than 

previously experienced, releasing 

tremendous sales and turnover 

potential. Intersec is of unique value to 

all the target groups in the security and 

safety industry. 

www.intersecexpo.com 

WORLD FUTURE ENERGY SUMMIT 


Venue: ADNEC 

The World Future Energy Summit 

(WFES) 2013 will bring together 

global leaders in policy, technology 

and business to discuss the state of the 

art, develop new ways of thinking and 

shape the future of renewable energy. 

www.worldfutureenergysummit.com 

SIGN AND GRAPHIC IMAGING 

MIDDLE EAST 2013 


Venue: Dubai World Trade Centre 

Sign and Graphic Imaging Middle 

East (SGI) exhibition is the most 

anticipated event of the year in the 

region for exhibitors and visitors in the 

signage, outdoor media, screen and 

digital printing industries. SGI Middle 

East brings together in one ideal venue 

exhibitors from across the UAE, Egypt, 

Lebanon, Iran, Iraq, India, Pakistan, 

East Africa, and other countries. 

www.signmiddleeast.com 

GULF ECO 2013 


Venue: Oman International Exhibition 

Centre, Oman 

Equipped with the latest cutting edge 

technologies, solutions and effective 

services, the event will serve as a 

platform for all industry sectors to 

lay emphasis on their “eco-friendly” 

campaigns by showcasing their 

products, services or green initiatives. 

www.gulfeco.net 

OFFSHORE MIDDLE EAST 


Venue: Qatar National Convention 

Centre, Doha 

With the Middle East offshore industry 

rapidly growing, Offshore Middle 

East Conference & Exhibition plays 

an important role in the expanding 

market and provides an annual forum 

dedicated to the advancement of the 

offshore industry, whilst addressing 

technological challenges associated 

with safely and cost effectively 

developing subsea resources. 

www.offshoremiddleeast.com 

AIRCRAFT INTERIORS MIDDLE EAST 



This two day exhibition and conference 

provides the ideal platform for interiors 

suppliers, providers and buyers to 

network and establish new relationships 

in the Middle East. 

www.aime.aero 

ARAB HEALTH 



Convention & Exhibition Centre 

Arab Health, now in its 38th year, is 

one of the world's longest running 

healthcare exhibition and congress. 

Interact with experts from the 

healthcare industry, learn about 

cutting edge technology showcased 

and discover the latest product 

demonstrations. 

www.arabhealthonline.com 

BRIDE ABU DHABI 

Date: January 30-February 2, 2013 

Venue: ADNEC 

With collections from haute couture 

designers to boutique ranges, Bride 

Abu Dhabi is a haven that caters to 

bridal fashion in one location. 

www.thebrideshow.com 

MIDDLE EAST RAIL 2013 

Date: February 5-7, 2013 


Middle East Rail is the region’s 

largest rail exhibition and conference 

attracting government, rail operators, 

transport authorities and world-class 

solution providers. 

www.terrapinn.com 

MIDDLE EAST ELECTRICITY 

Date: February 17-19, 2013 


Convention & Exhibition Centre 

Middle East Electricity is positioned 

as the meeting place for international 

companies to showcase their products 

and services for the power, lighting, 

renewable and nuclear sectors, to 

a proven audience of key decision 

makers from over 100 countries. 

www.middleeastelectricity.com 

80

Intelligent SME-Exe plan-190x260-E.indd 1 

11/14/12 5:56 PM



Column 

The many hues of 

entrepreneurs 

Summing up 

Utpal Bhattacharya notes that it is not 

necessary for a successful businessman 

to be a team player. He needs good 

instincts, though. 

In my career, spanning over two 

decades of journalism across 

countries, I have interviewed 

many successful business leaders, 

and have also had the opportunity to 

meet a few that could not deliver on the 

promise they showed in their 

initial years. 

There are many reasons 

that separate these two breeds of 

businessmen, but I am not going to 

discuss them in this column, as it 

requires a lot more than just 600 words 

to do justice to such a topic. I am just 

going to draw attention to a couple of 

remarkable insights that I got over the 

years interacting with businessmen of 

all hues. 

In the last decade, I discovered that 

I was advising a genius, who continues 

to head a multibillion dollar financial 

giant. He was a much smaller entity 

with a few core team members, who 

were highly skillful in their own areas, 

when I first started to consult them. 

However, as the firm grew bigger, the 

team could not keep pace with their 

genius of a leader. 

For the first time, I realised that 

not all successful businessmen were 

good leaders. As his team members fell 

away on the roadside, new members 

Lack of success 

could result from any 

number of reasons, 

but a big let down in 

business could come 

from lack of instinct. 

joined in, and some of them left again. 

I realised that this leader was a loner. I 

have concluded that his institution will 

remain as long as he is around, and then 

gradually fade away, unless something 

drastic changes in the mindset of the 

leadership. 

I have always wanted to write a 

book about another entrepreneur, who 

I have known for more than 20 years. 

He is a conglomerate today in his own 

right, and the one thing that has always 

amazed me is his ability to identify a 

potential entrepreneur. 

In the many years that he has been 

doing business, numerous managers 

have left him, some to set up their own 

firms. He followed a number of these 

managers as a founding shareholder in 

their start-up companies. He created 

many, many successful entrepreneurs, 

while his personal wealth grew more 

than he could have achieved, if he had 

tried to do it on his own. He is a great 

team player, unlike the loner mentioned 

above, and his institutions are likely to 

continue to do well without him. 

Lack of success could result from 

any number of reasons, but a big let 

down in business could come from lack 

of instinct. I know of an investor, who 

was brilliant many years back, when I 

met him for the first time. 

In the later years he stopped 

heeding to his instincts. I saw him 

increasingly getting obsessed with 

numbers, and over analysing them. It 

was his belief in these numbers and 

business plans, more than his instincts, 

that got him into big trouble when 

recession hit us last decade: he had 

invested his and others’ money in a very 

large project, based on numbers and the 

people behind the project, but without 

considering the special circumstances. 

The project is in shambles today, as the 

numbers never stacked up in these last 

few years, and will probably not for 

some more time. Hopefully, he will get 

back to trusting his instincts like in the 

past, when he started off. 

82

Architect in telecom - Intelligent SME

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