Is entrepreneurship for you? Here are some factors that will help you decide.
When I am in a conversation with someone who is talking passionately about their hobby, I have a habit of encouraging them to start a business based on it.
I realised it first when I was speaking to a talented artist friend of mine who illustrated children stories in her spare time. She was so gifted that I could not help myself from encouraging her to start a design studio, telling her how so many Arabic publishing houses would benefit from her talent.
She looked at me and said that she would never want to turn that interest into a business; that she saw herself working in a completely different field, and illustrating whenever her artistic mood kicked in.
This brings us to the question: Is entrepreneurship for everyone? It is tempting to be your own boss, to set your own hours and live through the thrill of not knowing where the road takes you. But will everyone enjoy that?
A relative was very honest when he said that silent investing was as far as he would go. "I will put my money into a promising business venture, and I am willing to take the risk associated with that. But I am not an entrepreneur, and would rather have an established job and a guaranteed pay cheque," he said.
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So how do you know if you are cut out for it? I have found that there are few indicators.
Passion
I cannot talk about this enough. If you don't have a passion for what you're doing and the blinding faith in your concept, then you'll never succeed. For me this is the one thing that will keep entrepreneurs going when weeks and months go by without pay. Most successful entrepreneurs are so passionate about what they are doing that they do not mind working on their concept all day, and giving up sleep is no problem.
Do not take no for an answer
Entrepreneurs may be rejected, and fail so many times before they even start, but one thing for sure is that they do not take no for an answer. If a door closes, they will look for a window. They are hopeful and determined.
They always find a different angle and do not necessarily re-invent the wheel. A while back I was speaking to a friend who wanted to start a media-related company. A couple of months in, she asked me this question: "But why would I even start this? There are tons of similar companies out there. What difference will I make?"
I looked at her and said: "Well, that's true. But they're not you, and they don't offer your perspective and your ideas in the field."
When Larry Page and Sergey Brin started Google, many search engines already existed, but the duo offered a different option: ranking different pages through their search engine. Rarely will businesses re-invent the wheel. What they is a different perspective to a problem, or an alternative solution. Think about it, there are countless abaya designers out there, and if you did not think outside the box you would not really stand out.
But say that you decide to make abayas out of recycled fabrics, and thus doing your bit to save the environment along the way, then bam!, you have set yourself apart.
You accept risks
As an entrepreneur you will have to take risks all the time. Perhaps every day. The whole journey is risky. You never know when the market will collapse, or when a regional conflict might affect your business.
If you are willing to accept that and have the tenacity to go through the unknown with all the risks it entails, then entrepreneurship is for you.
You take action
Last but not least, you have to take action and not be "all talk". If you have an idea, act on it. Research it, talk to people and see how you can bring it to life. How many people do you know who have been talking about starting that business for as long as you remember? Many are good at talking, but few do something about it. Managing a business requires taking immediate decisions; often money is on the line, and waiting is not an option.
I like to think about the entrepreneurship journey as a lifestyle instead of a job.
Manar Al Hinai is an award-winning Emirati writer who manages her branding and marketing consultancy in Abu Dhabi. Twitter:
@manar_alhinai
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
French Touch
Carla Bruni
(Verve)
The Bio
Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”
Holiday destination: “I like Paris very much, it’s a city very close to my heart.”
Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”
Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years-of-age
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his/her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30-years-old and able to support the child financially
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
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Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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THE DETAILS
Solo: A Star Wars Story
Director: Ron Howard
2/5
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E6.5-litre%20V12%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E725hp%20at%207%2C750rpm%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E716Nm%20at%206%2C250rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20dual-clutch%20auto%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EQ4%202023%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C650%2C000%3C%2Fp%3E%0A
NO OTHER LAND
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Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
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Kyrgyzstan v Qatar, 5.45pm
A MINECRAFT MOVIE
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Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5