I recently recalled a conversation I had with a friend when I was at university, who told me that I wouldn’t be able to run a successful business without prior business experience. My friend may be right in some ways, but not others.
For example, having experience in a fashion business would help you when you launch your own. Yet stories such as those of Facebook’s founder Mark Zuckerburg or Microsoft's Bill Gates, who established leading and innovative ventures without prior experience in the business world, prove otherwise. In fact, experience in a traditional company may not be relevant when launching a business in a completely new industry.
If you feel hesitant about starting your dream business because of your lack of experience, here are three things to keep in mind.
Customers usually have the answer
A business acquaintance once told me how every business venture she launched was inspired by a need that she and her friends faced. For instance, neither she nor her friends could find the right nursery for their children, so she started her own.
If you are frustrated with a certain service, or feel that there’s a gap in the market, the chances are that a lot of other people feel the same way and their input can help you refine your idea.
Have a look around, conduct focus groups, and speak to as many people as you can so that when you launch your business solution, you can easily win them over. Richard Branson once wrote in a blog post: "Think about changes you'd like to see as a customer – even if you've just noticed little details that need tweaking. Those little changes may add up to a big idea that leads to a new and truly disruptive product or service."
If you don’t know, surround yourself with people who do
You could be sitting on a million-dollar idea, but you don’t know how to run or manage some aspects of it. This is where mentorship and surrounding yourself with people who can help come in handy. You can even bring an experienced business partner on board who could help you build your company. Also, you can work with a mentor in the same or a related industry, and ask them for guidance in some areas. Alternatively, join a networking group, or online forums where you can find like-minded individuals and discuss ideas with them. When I first started my entrepreneurial journey, I thought that I’d sound like a failure if I didn’t know the answers to the questions I had. But then I knew that my business would be in jeopardy without them, so I approached experts - and those with more experience than I in certain areas. The wider your support network, the better for your business.
Make use of the resources available
From online courses to mentorship programmes and talks, there are so many resources available for you to learn about any industry, develop skills, help you raise funds and reduce your costs.
Abu Dhabi’s Hub71 network of venture capitalists invest in innovative start-ups. Social media also helps in connecting us with entrepreneurs and industry leaders where you can ask questions or seek guidance. There are also a number of accelerators and business centres with experts that can help you develop and further focus your business idea. Sheraa Entrepreneurship Centre in Sharjah organises different events and programmes that help start-up entrepreneurs. The Sheraa Idea Lab, for instance, helps start-up entrepreneurs understand their customers’ behaviour and problematic areas that the right product could help to solve.
A lack of experience in business doesn’t mean you won’t run a successful company Researching, listening to your potential customers, tapping into the right resources and partnering or surrounding yourself with the right people all provide helpful steps in the right direction.
Manar Al Hinai is an award-winning Emirati journalist and entrepreneur, who manages her marketing and communications company in Abu Dhabi
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The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
RESULTS
6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
Winner: Miller’s House, Richard Mullen (jockey), Satish Seemar (trainer).
7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
Winner: Kanood, Adrie de Vries, Fawzi Nass.
7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
Winner: Gervais, Sandro Paiva, Ali Rashid Al Raihe.
8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
Winner: Important Mission, Royston Ffrench, Salem bin Ghadayer.
8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
Winner: Firnas, Xavier Ziani, Salem bin Ghadayer.
9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
Winner: Zhou Storm, Connor Beasley, Ali Rashid Al Raihe.
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Wenger's Arsenal reign in numbers
1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
More on animal trafficking
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Profile of VoucherSkout
Date of launch: November 2016
Founder: David Tobias
Based: Jumeirah Lake Towers
Sector: Technology
Size: 18 employees
Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake
Investors: Seed round was self-funded with “millions of dollars”
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
