Entrepreneur Qatar March 2016 | Envisioning Tomorrow

Curating your online presenCe Use the power of snapchat for personal branding

Dr. Sheikha aiSha bint Faleh bin

naSSer al-thaniAl FAleh Group Founder And

chAirperson

How Silicon ValleyS firSt billionaire grew HiS Startup to dominate tHe global market

ShutterStock founder and ceo Jon oringer

The AiAnA hoTels & ResoRTs Ceo on seeking supeRioR seRviCe

Qatars supply and demandAmrudA NAir

Envisioning Qatars

tomorrow

Envisioning Qatars

tomorrow

MARCH 2016 | www.entRepReneuR.CoM/Me | QAR15

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CONTENTS

20 INNOVATOR:ENVIsIONINg QATARs TOmORROw Dr. Sheikha Aisha bint Faleh bin Nasser Al-ThaniThe founder and chairperson of Al Faleh Group sees entrepre-neurs armed with exec education as the way forward.

30 QATARs supply ANd dEmANdAmruda Nair The Aiana Hotels & Resorts CEO on seeking superior service.

30 pIcTuRE pERfEcTShutterstock founder and CEO Jon Oringer How Silicon Valleys first billionaire grew his startup to dominate the global market.

CONTENTS

30 Jon Oringer, founder and CEO, Shutterstock

mARch 2016


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CONTENTS mARch 2016CONTENTS mARch 2016

52 Mohammed Abdul Rahim Al Fahim, Group CEO, Paris Gallery Group of Companies

46 TREpONOmIcs: mARKETINgShow what you know Cheryl Tan outlines five essentials to consider for your content marketing plan in 2016.

42 AsK A pRO Early sales success is key to survival Karl Hougaard outlines five common mistakes to avoid, and why your business will be better off.

12 EdITORs NOTEBy Fida Z. Chaaban

60 ESQUIRE guyThe secret to better brainstorming Ross McCammon says leading a brainstorming sessions starts with forgetting about the box that, according to generally accepted brainstorming practices, youre supposed to be thinking outside of.

36 EThIcsHow to be an ethical leaderBayt.coms Lama Ataya explains that the key to having an ethically-run company is employing morally upstanding leaders.

72 mONEy:yOuR mONEyLooking further afield According to Genpharm co-founder Karim Smaira, your business may do better with a non-traditional funding route.

20 The winners of

this years Oman Entrepreneurship

Awards

CONTENTS mARch 2016

52 Mohammed Abdul Rahim Al Fahim, Group CEO, Paris Gallery Group of Companies

46 TREpONOmIcs: mARKETINgShow what you know Cheryl Tan outlines five essentials to consider for your content marketing plan in 2016.

42 AsK A pRO Early sales success is key to survival Karl Hougaard outlines five common mistakes to avoid, and why your business will be better off.

12 EdITORs NOTEBy Fida Z. Chaaban

60 ESQUIRE guyThe secret to better brainstorming Ross McCammon says leading a brainstorming sessions starts with forgetting about the box that, according to generally accepted brainstorming practices, youre supposed to be thinking outside of.

36 EThIcsHow to be an ethical leaderBayt.coms Lama Ataya explains that the key to having an ethically-run company is employing morally upstanding leaders.

72 mONEy:yOuR mONEyLooking further afield According to Genpharm co-founder Karim Smaira, your business may do better with a non-traditional funding route.

20 The winners of


Awards

20 The winners of


Awards

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CONTENTS mARch 2016

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56 TEch:shINy#TamTalksTechGadgets and doodads that you mightve missed out on, sourced by a tech aficionado. Yes, its okay to want them all and no, its not our fault.

58 ONlINE TREpCurating your online presence Entrepreneur Tom Otton discusses how to use the power of Snapchat for personal branding.

59 mOBIlE TEchOn the road Read about an app developed by NYUAD students that was awarded top honors at the World Government Summit.

54 culTuRE: TRAppINgsTrep gear The executive selection for the entrepreneur on your list that has everything. Okay, maybe for a little self-reward as well.

79 sTARTup fINANcE The Luxury Closet gets funded! Founder and CEO Kunal Kapoor, a former head of sales at Louis Vuitton, emphasizes on his startups disciplined compliance to budget timelines and financial strategy.

51 BusINEss uNusuAlStart em young Jordan-based teen treps, Zaid Amer Rahhal and Mazen Rid Hashem, launched an accessories line with financial independence as one of their main drivers.

74 sTART IT up:Q + A Do you want some space?Startup Boxit, founded by Premlal Pullisserry, offers up solutions for your storage needs.

49 lIfEThree tips for an energy-efficient lifestylePart of not losing control is to account for the energy that you allocate to the different things you do, and roles you play.

62 lIfETen common beliefs we get wrong and whyOverrated ideas vs. underrated ideas put forward by Olympian and entrepreneur James Clear.

80 EcOsysTEmWorking at a startup made me a better version of myselfAdib Samara left a glitzy multinational with all of the perks to join the entrepreneurial ecosystem, and this is how it changed his perspective.

56 C.R Lee, President,

Samsung MENA,2016 MENA Forum

57 Samsung Gear 360


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Fida Z. Chaaban Editor in Chief @fida | @[email protected]

EDITORS NOTE

Encouraging entrepreneurship is everyones responsibility

Doing your part for the ecosystem

@kindaibrahim moderating the @TwitterMENA #PositionOfStrength panel at Global Womens Forum Dubai. Panelists right to left: @Fida, @ImanBenChaibah, @HebaAlSamt. To see the online action from the forum, visit the hashtag #GWFDubai.

I had the pleasure of speaking on Twitter MENAs panel at the Global Womens Forum in Dubai in February. Moderated by Kinda Ibrahim, my co-panelists (Iman Ben Chaibah and Heba AlSamt) and I were asked to discuss how the medium puts Arab women in a #PositionOfStrength. During the course of the one-hour discussion, I was also asked to talk about business leaders and the re-sponsibility they have to encourage entrepreneurship in the region.

My response was that we are all, without exception, responsible for entrepreneurship in the MENA region. It is not only leaders of en-terprise who should be tasked with the growth and support of what is arguably the most important mandate in this history of the Arab world- economic diversification and stability via the proliferation of the small to medium enterprise space. You and I are just as pivotal as the Chairman of any influential board in terms of making this economic vision a reality in the near future.

How can you help? Well, no matter your position or sector of employment, be you a founder of a fledgling startup or the CFO of a regional conglomerate, there are ways you can pitch in. Mentoring, speaking, or allowing for a job shad-ow, are just some ways that more senior members of our business community can help out. Juniors or

those who are just starting out can volunteer to lend a hand at startup events- and in the process you gain valuable connections and insight into the ecosystems workings. This helps you as much as it helps the ecosystem.

Another easy -and perhaps the most significant- way of supporting the entrepreneurial ecosystem is by acting in a customer capacity. Think about how much you are helping our homegrown small enterprises by spending your money there. Want to eat out? Choose a brand founded here, as there are lots of those in the F&B sector. Looking for a gift? Shop online with any one of the hundreds of e-commerce startups, or gift a subscription to the many useful box startup companies. We share some of these ventures under the hashtag #EntMERecommends on both Twit-ter and Instagram. Are you looking for a staffing or freelancer solution? Be certain to visit the websites of regional companies first, because chances are they have what youre looking for and theyre willing to bend over backwards to onboard regional clients.

I always try, as much as possible, to shop with local businesses. Over the holidays, I managed to get every single item on my gift list from a lo-cal entrepreneurial endeavor- many are listed under the hashtag I just mentioned. If all that still doesnt

sound like you, just choose Careem to taxi around town or Carpool Ara-bia for ridesharing options.

There is always a way to do your part for the ecosystem, and suggest-ing that it is not your responsibility is flat out wrong. After all, next year it could be your startup struggling to demonstrate customer traction, and you could be the one asking yourself why people dont think local first.

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I would call it a meeting of minds thats redefining hos-pitality! says Amruda Nair, Joint Managing Director and Chief Executive Officer of Aiana Hotels & Resorts, on her new enterprise,

which is a joint venture with H.E. Sheikh Faisal Bin Qassim Al Thani, one of Qatars leading entrepreneurs. An independently-owned new brand of hospitality, Aiana Hotels & Resorts aims to embody the best of Indian service ethos with Nair looking at the bigger picture. The CEO is aspiring to become a global hospitality brand with a presence across the Middle East, India, and South East Asian markets. According to Nair, Sheikh Faisal has steered his business to become a major corpora-tion with more than 40 diverse com-mercial and industrial companies, operating under the Al Faisal Holding Group. I am confident that the combination of H.E. Sheikh Faisals knowledge of the Middle East region, resources, visionary entrepreneurial skills, and my experience and pas-sion for the industry will prove to be a game-changer in the hospitality realm, she says. The joint venture

to form Aiana Hotels & Resorts is the result of a focused and proactive strategy to create a niche in the hos-pitality market.

Nair underlines how by blending Sheikh Faisals vision and history of nurturing talent along with her legacy and experience, Aiana Hotels & Resorts will define what she refers to as Hospitality 2.0, adding that the Aiana Suites and Residences was created to appeal to its custom-ers comfort and satisfaction. The project consists of 180-keys with sea-facing and city views and is located in the prestigious central business district of West Bay. Its prime location amidst various prominent attractions, governmental offices and easy accessibility makes it appeal-ing to both tourists and long-stay residents. In addition, she describes the room categories available, which include innovative studio rooms as well as two and three bedroom apart-ments that will be one of the largest in the competitive market of West Bay. Set across 35 floors, the prop-erty offers views of the Corniche from the 33rd floor lounge as well as the pool on the 34th floor. Adding to a modern Indian restaurant on the first floor with a lounge and private dining rooms, it offers two distinct dining experiences and authentic cuisine. The Aiana service culture, in tune with the needs of the next generation of travelers, is underpinned by our intuitive and unobtrusive Indian service ethic. It meets all the require-ments for contemporary living and offers a variety of India-inspired facilities such as a specialty Indian restaurant and a modern Indian spa concept in addition to other hotel amenities. >>>

Qatars supply and demandAmrudA NAir The AiAnA hoTels & ResoRTs Ceo on seeking supeRioR seRviCe By Erika Widn

INNOvaTOR

Currently there are Close to 18,100 hotel and serviCe apartment keys in Qatar, inCluding the addition of 1,460 keys in 2015.

Amruda Nair, Joint Managing Director and Chief Executive Officer of Aiana Hotels & Resorts with H.E. Sheikh Faisal Bin Qassim Al Thani


Aiana Hotels & Resorts signed a management agreement with Moonriver Resorts to operate Aiana Munnar A Moonriver Resort. Scheduled to open in 2016, the management companys first property in India, Aiana Munnar A Moonriver Resort, is an allsuite villa resort spread across 20 acres. ww

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The accessible, understated experi-ences we offer resonate with our guests values, and cater to their diverse interests. Our guests have travelled the world- they are smart users of technology. Environmentally and socially conscious, they expect exceptional value. We aim to cater to the evolving demands of this seg-ment for value added offerings in the upper upscale hospitality segment, Nair says. We will achieve our vision by innovating fresh service, design, and operating concepts, creating smart, stimulating places in tune with our environmental and social values as well as delivering an intuitive hotel management model that resonates with the next genera-tion of travelers this is what we call Hospitality 2.0.

The expected completion date of the project is in the third quarter of 2016, and the mission of Aiana Hotels & Resorts is to embody a hospitality brand of upper upscale hotels and leading operator of hotels, resorts and serviced apart-ments in the Middle East, Indian

sub-continent, and South East Asia. Having a sophisticated joint venture partner with a well-matched vision for hospitality will pave the path for Aiana Hotels & Resorts to achieve a positioning into the niche market as we offer service consistency across multiple locations. With this joint venture, we have created a hotel management company that will oper-ate hotels owned by independent owners, adds Nair. Aiana Hotels & Resorts has also recently signed an agreement with Indias Ferns Estates & Developers to manage and operate five new resorts in southern India. With this announcement, Aiana Hotels & Resorts now has seven properties to its fast-growing portfolio. We will be building green field projects that will be designed

and constructed to the Aiana brand specifications but will also look at a few select conversions in key desti-nations that comply with our brand standards.

The company is also committed to collaborate with Qatar Tourism Authority (QTA) for any forthcom-ing initiatives that the entity might introduce for promoting business tourism in Qatar. Qatar is already a leading high-end destination for MICE, situated centrally between Eu-rope and Asia and we are committed to support the QTA vision to position Qatar as a prominent destination for MICE industry. Aiana Residences Doha has been designed specifically to meet the needs of tomorrows traveler and this niche service offer-ing will contribute to Qatars appeal

Qatars tourism strategy seeks to triple the number of business events tourists by 2030, thereby Contribut-ing at least half of the Countrys rev-enue from tourism spending.

INNOvaTOR

Amruda Nair

Aiana Munnar resort


as a thriving business destination, says Nair. She maintains that Qatar is fast emerging as a preferred des-tination for organizing key industry events across diverse industry sectors. In fact Qatars tourism strategy seeks to triple the number of business events tourists by 2030, thereby contributing at least half of the countrys revenue from tourism spending. As a hotel management company based in Qatar, Aiana is able to adjust its strategy to the changing economic environment and to the markets needs, claims Nair. As cost-saving initiatives by oil and gas majors begin to have an impact on business travel, the performance of the hotel market is going to be tested. As a result, the business model of serviced apartments gives management the flexibility to change the profile between long and short stay to meet the demand. We believe that there will be a market for both value-added products in the upper upscale space and that many expatriates will view serviced apart-ments as an alternative to residential accommodation where rental rates are much higher. Thus, we believe that the launch of our flagship proj-ect, a 180-key serviced apartment offering under the Aiana flag in the financial district of the West Bay, is the right fit for the present market conditions.

And her main challenge? She says that as a hotel management company in Qatar, it will be primarily ensuring that the company enters the market with a diverse product offering. Aiana strongly believes Qatars hospitality market caters to multiple segments, specifically the corporate MICE traveler, the regional leisure market, and the countrys expatriate population. We are scheduled to launch our flagship project Aiana Suites & Residences at the end of 2016 which is well-suited to the market demand for value-added products and services in the upper upscale space. We would like to continue to expand our presence in the country with a leisure offering as well a full service hotel develop-

ment, continues Nair, The strategic goal by the national tourism author-ity [QTA] -to be a world-class hub with deep cultural roots is well on its way to being achieved and Aiana is well-poised to be a part of that growth story.

Qatar is estimated to see more than 23,000 keys enter its hospitality market this year, registering a growth of 27%, according to a report by Colliers International, a real estate advisory. Currently there are close to 18,100 hotel and service apart-ment keys in Qatar, including the addition of 1,460 keys in 2015. Nair says the growth can be attributed to the limited presence of midscale hotels and serviced apartments in Doha, presenting new development opportunities and offering owners and investors a potential opportunity to target this market gap. From a demand perspective, the market is expected to close at 71% occupancy this year which is a marginal drop from 72% last year. However, a change in market segmentation will help stem the drop and though the World Cup will attract an estimated 400,000 tourists, currently 60% of Qatars hospitality sector is driven by business travel. I am confident that the Aiana concept of Hospitality 2.0 will be well-suited to meet the

requirements of the global savvy traveller.

While the total increase in supply has been significant, as a result, there is diversity in the nature of the product, service concepts, and man-agement styles. Doha will continue to be a priority for global hotel man-agement companies to have a pres-ence and there will continue to be additions even in the luxury segment despite the present supply. We are proud to be the first Indian-inspired hotel brand to enter the Qatar mar-ket and believe our authentic dining experiences, Indian service ethos and modern Indian spa concept will help set us apart in a crowded market, concludes Nair.

having a sophisti-Cated joint venture partner with a well-matChed vision for hospitality will pave the path for aiana hotels & resorts to aChieve a positioning into the niChe market as we offer serviCe ConsistenCy aCross multiple loCations.

EntrEprEnEur march 2016 16 EntrEprEnEur march 2016 16

Dr. Sheikha Aisha bint Faleh bin Nasser Al-Thani, Al Faleh Group


Envisioning Qatars tomorrow Dr. Sheikha aiSha bint Faleh bin naSSer al-thaniThe founder and chairperson of al faleh Group sees enTrepreneurs armed wiTh exec educaTion as The way forward By Aby Sam Thomas

We have no reason whatsoever not to excel, with all thats being given to us. This statement by Dr. Sheikha Aisha bint Faleh bin Nasser Al-Thani perhaps best explains why this enterprising Qatari woman is a worthy role model for people not just in her own country, but in the GCC and beyond as well. Consider her credentials for a moment. Yes, shes a member of Qatars ruling family. But shes not just that- Sheikha Aisha is also the founder and Chairperson of the Al Faleh Group, perhaps best known for its educational institutions under the Doha Academy umbrella. Her holding company also has a presence in other sectors- F&B, hospitality and healthcare are the industries currently on its agenda. But note that Sheikha Aisha cannot be defined just by her business interests either- once again, shes more than just that. Sheikha Aisha is also a committed philanthropist, whose zeal for the initiatives she associates herself with in this regard is quite exemplary. One of these ventures is Reach Out To Asia (ROTA), which aims to provide basic, quality education to children across the Asian continent, and she sits on the board of directors for this organization, which was founded by H.E. Sheikha Al Mayassa bint Hamad Al-Thani. She is also a founding member of the board of patrons (and former Chairperson) of the World Congress of Muslim Philanthropists (WCMP), a global network aimed at advancing the notion of giving in the Islamic world. Now, put all of the aforementioned roles together, and then maybe, one can get an idea of the sheer scale of the work that Sheikha Aisha does- and she does it all quite cheerfully, because, as she put it so simply, she likes what she does.

INNOvaTOR

>>>>


And while some of us, if put in Sheikha Aishas place right now, may be content with all what we have achieved so far, she is certainly not like that- she has a lot more planned ahead for her enterprises. Her business educational arm will soon be announc-ing the launch of the Qatari campus of a prominent British university- the name and more details

about the venture will be released soon, Sheikha Aisha promises. This has been a work in progress for 10 years, Im really sad to say, she reveals. Because we forged a partnership with another university and it fell through, because of the red tape. But with this univer-sity, alhamdullilah, we are very close to launching, and even the authorities here are very excited about it. We

have had great support from the Ministry of Education in Qatar, and hopefully, in September, well see its launch happening. Its easy to see that Sheikha Aisha is excited about her new venture, and her enthusiasm shows- here is someone who is heavily invested in and a major proponent of- the education sector in Qatar. I truly believe that there is a strong positive correlation between the education the person receives, and how much he/she achieves in life, she says. Its sad, but here in the Middle East, we are not fortunate enough to have high numbers like in Europe. But having served two terms with the Qatar Supreme Education Council, I can tell you that countries like Qatar have really put

education on the front burner. They are investing heavily in education, and we are becoming the center of excellence for education in the region. Not only should we provide basic educational skills, but we should also, in my opinion, develop cur-ricula that include practical skills that help individuals become more innovative, and encourage entrepreneur-ship as well. So, in my opin-ion, education is key. If you ask a person to excel without education, its like asking somebody to drive a car with their hands tied.

Its worth pointing out here that Sheikha Aisha has quite an illustrious educational background- she holds a Bachelors Degree in Educa-tion and English Literature from the University of Qatar,

INNOvaTOR

i do get a sense of satis-faCtion from my Corporate ventures, but what ex-Ceeds that is the satisfaC-tion i get from my philan-thropiC aCtivities.

Dr. Sheikha Aisha bint Faleh bin Nasser Al-Thani, Al Faleh Group


a MBA from the University of Hull in the U.K., and a Ph.D. from the Cass Business School in the U.K. So ask her if she thinks executive education is important for entrepreneurs and people looking to make it big in the business world, Sheikha Aishas reply is a resounding yes. Its very important, she says. While I was doing my MBA and PhD, my hus-band was constantly telling me, You are losing out on opportunities. I said, No, because, without this degree, I wont be able to excel. Really- education is key. I always advise people: invest in your own education, your kids education, because theres no excelling without that. And people talk about practical skills- yes, of course, they are important. But you need to have the basis. I mean, sometimes, as business owners, we have people coming in, and they start with us- they have the education, they dont have the practical skills. So we teach them those skills and training them to excel. But then, if we get applicants with no executive education, we have to train

them from scratch- which we dont have time for. However, Sheikha Aisha acknowledges that there is a gap to be filled in terms of executive education options in Qatar and in the region at the large. Even with the executive education thats on offer right now, sadly, its not much, she notes. And this is where private-public partnerships should really now be forged and put in full force.

Even as the education-focused segment of her business moves forward, Sheikha Aisha is also seeing further growth in the cards for the other sectors her company is involved in. For instance, the hospitality side of her business is poised for an exciting new deal with a big-name enterprise soon- again, Sheikha Aisha cant reveal too many details about this right now, but she claims that it is a rather proud moment for her and her company. A line of healthcare clinics is also on the agenda for the Al Faleh Group. Now, with all of what is going on with the different branches of her company,

one has to won-der: how involved is Sheikha Aisha in the running of her enterprise? Well, as it turns out, Sheikha Ai-sha belongs to the breed of hands-on entrepreneurs: she seems to be a disciple of the lead as you would like others to follow kind of philosophy. But again, note here that she does all of the above while also catering to her philanthropic activities and her own personal life as well. So, now, the question is: does she not get stressed with all of what she has go-ing on in her work? Sheikha Aisha dismisses the query with a laugh. The key is: are you doing what you like? she says. Because its fun for me to come to work everyday. I am doing this fun thing I like, so its not work, really. And these people [in my company] are my family now- my team is my family, and I care about each one of them They are family to us, and youll be surprised- most of them have been with

me for 20 years. People seem to tend to stay on with us, alhamdullilah.

Her business accomplish-ments notwithstanding, Sheikha Aisha admits that its her philanthropy work that leaves her feeling more fulfilled. Yes, I do get a sense of satisfaction from my corporate ventures, but what exceeds that is the satisfaction I get from my philanthropic activities, she says, pointing to her work with ROTA and WCMP as an example. Shes also a major proponent for social entre-preneurship, which is why shes particularly excited about the upcoming eighth edition of ROTAs Empower conference in March, which has as its theme, Innovation

we have no reason whatsoever not to exCel, with all thats being given to us. Dr. Sheikha Aisha bint Faleh bin Nasser Al-Thani and Fida

Chaaban, Editor-in-Chief, Entrepreneur Middle East

Doha Academy

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in Youth Social Entrepre-neurship. As a youth-led conference that focuses on how young people in Qatar can participate in the development of both their local and global communi-ties, Empower has seen itself (and its impact) grow since its inception in 2009. Em-power aims to attract young people from the ages of 16 till 26- this is the age when you get all these innovative ideas, she says. Partici-pants are, by no means, only from Qatar- we have them from all over the world. So its by the youth, led by them- they do it all. They even pick their speakers sometimes. What this event does is that it provides them with the skills necessary to build their communities, and it actually gives them a voice to talk about global issues. The year before, it was about water scarcity- and we had some great ideas [showcased at the event]! I said, this should be put in a report and sent to the United Nations or something. So we did achieve our aim, which is to enable these young people to take leadership roles, and actually, now, some of

them are involved with local enterprises on a volunteer basis, while some of them are actually working there right now.

Sheikha Aishas accom-plishments in her life so far are, by their own accord, worthy of applause, but it takes on a whole other level of significance when you consider that she is a woman in the rather male-dominated Arab business arena. To give her credit though, Sheikha Aisha ac-knowledges that her familys name has definitely been a boon for her, but she adds that when it comes to run-ning her business, its always been more about the sense of personal accomplish-

ment that drove her on. It doesnt matter where you come from, or who you are the daughter of, [running a business] gives fulfillment, really. And I think every woman would like to do it- maybe, they dont have the know-how. I am privileged in that, being who I am, I have more access to everything: resources, capital, etc. But its a privilege that, I think, should spread. And accord-ing to Sheikha Aisha, there is potential in this region for women to help each other out in setting up their own enterprises- research has said that women in Qatar and the GCC often have a great amount of personal wealth, she notes, and this could be tapped into as a source of finance for entre-preneurs. But if this is to happen, there needs to be more interaction between these women- network-ing, Sheikha Aisha says, is essential if things are to move forward in this direction. Changing the demographics in business is not easy, because we know its male-dominated, espe-

cially in the GCC countries, she notes. And so it will take an orchestrated effort between women in Qatar and women everywhere actually to change that. So, I really hope to see more platforms that bring people together Women dont have [enough] platforms to network, and this is really something we should look into, as to how we can do that. But things are changing- and Sheikha Aisha highlights the fact that Qatar is making a concerted effort to do just that. The countrys leadership has been extremely vocal about empowering women in Qatar, and with people like Sheikha Aisha to lead the way, the future is looking quite bright indeed.

INNOvaTOR

i truly believe that there is a strong positive Correlation between the eduCation the person reCeives, and how muCh he/she aChieves in life.

Changing the demographiCs in business is not easy, beCause we know its male-dominated, espeCially in the gCC Countries. and so it will take an orChestrated effort between women in Qatar and women everywhere aCtually to Change that.

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Establishing a culturE of EntrEprEnEurship Riyada CEO Khalifa Said al abRi Omans chief priOrity is a diversified ecOnOmy By Aby Sam Thomas

INNOvaTOR

we want more entities to be a part of the entrepreneurial eCo-system, and start establishing and organizing their own pro-grams to help the sme seCtor.

Like every other nation in the Gulf Coopera-tion Council (GCC), the Sultanate of

Oman too has been adversely affected by the decline in oil prices over the past year- the country saw its revenues go down by more than 50% in 2015, and its budget for this year has projected a deficit of OMR3.3 billion (US$8.6 billion). But as dire as this situation may seem, it was hard for me to find any repercussions of this on the spirits of the Sultanates citizens I met during my visit to the country in January this year- the people I got to see were incredibly optimistic, and their enthusiasm to work hard to achieve their personal goals and thus contribute to their nations growth was, quite simply, impressive. But then again, I shouldnt have been too surprised: the one thing I found as a link connecting all of them was that they were all, in some way or the other, related to

the startup ecosystem of the Sultanate, and much like the characteristics embodied by entrepreneurially-minded folk around the world, these Omanis were committed to making a difference in their country as they know it- and its safe to say that they are relentless in their determi-nation to change it for the better.

There has been a renewed focus on Omans ecosystem for entrepreneurs ever since the SME Development Symposium was held in the country at Saih Al Shamekhat in 2013, which was organized as per the directives of the Sultanates ruler, His Majesty Sultan Qaboos bin Said al Said. One of the outcomes of that event which discussed ways to accelerate entrepre-neurship in Oman- was the establishment of Riyada, an organization whose mandate is to, quite simply, nurture and aid the development of the countrys SME sector. While its only been a few years since Riyadas incep-tion, CEO Khalifa Said Al Abri feels that the organiza-

tion has indeed made some headway on its goals- having said that, Al Abri acknowl-edges that he and his team at Riyada have a lot more to do and accomplish in developing an ecosystem that is 100% friendly to SMEs in Oman. Establishing a culture of entrepreneurship is not something that can be done within one or two years, he explains. It is a long process, and you have to work for a long time to achieve that. But there is already a change we can see in the ecosystem now- a lot of young Omanis today want to establish their own businesses. This was not the case two to four years ago. And Al Abri has the numbers to prove his point: In 2013, there were only 323 Omanis who had registered their own businesses with the system. In 2015, that number went up

to 4,300. Al Abri notes that this increased interest in the SME sector is advantageous for Oman not just because of the contribution it can make to the countrys economy, but also for the important role it can play in bringing about job opportunities for Omani nationals. At a time when the International Labor Organization has pegged the unemployment rate in Oman at 7.17%, promoting entrepreneurship as a career option as opposed to looking for a job with large companies or the government- makes sense for a nation that is eager to move away from its dependency on oil, and instead focus on other poten-tial big business sectors like tourism, logistics, etc. H.M. Sultan Qaboos has also put his voice behind the SME sec-tor- during a speech at Saih Al Shamekhat in 2013, he said, The national economy of a country is, in fact, based on small and medium indus-tries These are the funda-mentals, the foundations of all national economies. To give credit where its due, it does look like the Omani government has been making a concerted effort to improve Omans business landscape as a whole. And this applies to (and bodes well for) both existing SMEs in the market, as well as new ones- while there is obviously a lot more that needs to be done, Ri-yadas existence is in itself an indication of the work being done in this direction. >>>


there is a huge potential for

entrepreneurs to find

opportunities within the

eCosystem. it is not easy work-

but the benefits will be huge.Khalifa Said Al Abri, Riyada CEO


INNOvaTOR

Taskeen Properties Khalid Al Habsi

winning at the Oman Entrepreneurship

Awards

Dar alHerfya CEO Zuwaina Sultan Al-Rashdi

establishing a Culture of en-trepreneurship is not something that Can be done within one or two years.

Besides Riyada, the Saih Al Shamekhat symposium also led to the creation of another organization catered specifi-cally to Omans SME sector: the Al Raffd Fund. While Riyada is aimed at helping SMEs with training and ad-visory services on everything from starting up on an idea to finally marketing their respec-tive endeavors, Al Raffd Fund has been set up to provide the requisite financial support for Omani nationals to start their businesses. The two bodies work can thus be said to be complementary to each other- entrepreneurs often go to Riyada first to build and develop their enterprise ideas, following which they submit a proposal to Al Raffd Fund to get financed. Between the two organizations, they are trying to get rid of -or at least relax- the obstacles in front of Omani entrepreneurs today- these range from find-ing ways to speed through procedural roadblocks, to dispelling societal norms that discourage entrepreneurship. From his perspective, Al Abri agrees that there are several hurdles to overcome if one chooses to go down the path of entrepreneurship in Oman- but then again, he notes, the rewards are worth the ride. The opportunities are there, he says. There is a huge potential for entrepreneurs to find opportunities within the ecosystem. It is not easy work- but the benefits will be huge.

From advising Omani entrepre-neurs on how to deal with govern-ment authorities, to making sure the directives made at the 2013 Saih Al Shamekhat Symposium are being followed through, its clear that Riyada has a lot on its plate, with respect to its task of developing the SME sector in Oman. But Al Abri notes that the organization has also been tasked with promoting the culture of entrepreneurship in Oman- and this is basically how Riyadas Entrepreneur-ship Awards came to be. There are three reasons for these awards to exist, Al Abri explains. First is to create the culture of business in Oman- just to increase the awareness of Omanis that there are opportunities, there are ways to establish their own businesses within the ecosystem. The second reason is to highlight the success stories in the eco-system- so that they can be like role models, heroes, for other young Omanis The third reason is to encourage government authorities and other institutions in the eco-system to establish programs or initiatives to help SMEs So there are awards for gov-ernment authorities, financial

institutions, corporate gi-ants, etc. that support and help SMEs- and we want to encourage more of these activi-ties. We want more entities to be a part of the entrepreneurial ecosystem, and

start establishing and orga-nizing their own programs to help the SME sector.

The first edition of the Entrepreneurship Awards was held in 2015, which saw 13 winners (out of a total of 581 applications) being awarded for their achieve-ments in Omans SME sector. The second edition (for which Entrepreneur Middle East was a media partner) saw 481 applications, of which 21 saw their achievements awarded at a gala ceremony held at the Sultan Qaboos University in late January. While the awards are, by themselves, a rather worthwhile initiative to support Omani entrepre-neurs, Riyada doesnt stop just there. Our idea is not to just give them some money, or give them some trophies, and thats the end of the sto-ry, Al Abri says. Our aim is also to start the journey with them- as in, move from what they are now, and how we can help them to grow and pro-mote their businesses in the future. So there is a support program after the winners are announced, and our plan is to continue working with them from now, until the end of the year. We think this is important, because winning a trophy or an award is not the end of the story- we think this is the starting point for

them. And the post-awards program is a pretty intensive one- Riyadas personnel get to work with the win-ners on their businesses, identify gaps in their models and help solve those issues, and further assist them in their growth by showcasing them at events to potential partners.

Nadia Maqbool was one of the winners in last years installment of the Entre-preneurship Awards. Her company, 23 Degrees North, an architectural consultancy founded in 2011, won the title of the Best Small Enterprise in the Service Sector, and for Maqbool, the award was just the impetus she needed to turn her attention to all of what she needed to do to make her business a sus-tainable one. Winning the award last year was a huge boost of confidence for us, she says. As entrepreneurs in a technical field -we are architects- we were focused


on broadening our reputation in the market, as good design-ers, as innovative designers. Alhamdulillah, we have now achieved that reputation. But there is so much more to being an en-trepreneur than that, and for me, the big-gest win out of the award was shedding light on the other aspects [of running a SME]: you know, the marketing, the HR, the legalities, the planning, the vi-sion, etc. We werent really focusing on these things, not because we didnt prioritize them, but because we were focusing on the things that we knew, the things that we were able to invest our time in. Since winning last year, its taken us quite some time to just strategize how were going to really deal with developing those sides, and now, weve come up with a couple of so-lutions, that were hopefully going to be implementing soon. And these changes probably couldnt have come at a more opportune time for this SME- in January, Maq-bools company celebrated the successful completion and delivery of its milestone project, the Lyce Franaise de Mascate (The French School of Muscat), and one hopes that this achievement

will stand 23 Degrees North in good stead for the future.

Maqbools journey with her enterprise is almost certainly going to be an inspiration for

the SME founders that won at this years edition of the Entrepreneurship Awards. While these entrepreneurs may hail from different sectors and backgrounds, they are all linked by their steadfast dedication to their enterprises, despite the challenges inherent in the Omani ecosystem. Khalid Al Habsis Taskeen Properties, for instance, won in the Best Small Enterprise in the Service Sector category this year, but he notes one of the biggest hurdles he sees in Oman is the societal indif-ference to entrepreneurship. We dont have a culture of entrepreneurship, Al Habsi says, a notion that Mona Al Shukairi agrees with. Al Shukairi, whose company Al Joory Boukor won second

place in the Best Micro Busi-ness category, faced a lot of opposition from her family and friends when she decided to quit her lucrative medical career to start up her local incense and perfume enter-

prise- Al Shukairi told me she kept her business a secret for as long as she could so as to avoid any potential confron-tations with people she knew. But Al Habsi and Al Shukairi didnt let the hurdles in front

whats your personal take on the entrepreneurial ecosystem of Oman?The entrepreneurial eco-system in Oman is building capacity and many resources exist to help Omani SMEs. The challenge lies in making resources accessible, easy to understand and responsive to the needs of SMEs. We feel the opportunity lies in creating a community of entrepreneurs that are capable of economic impact. Entrepreneurs and startups are the engine of economic impact and diversification. The government and private sector organizations here in Oman are providing much support, in fact, one could argue too much. It is not the governments responsibility to create entrepreneurs. It is the responsibility of government to fulfill the needs of entrepreneurs for knowledge, market data, favorable policies, minimal bureaucracy, access to capi-tal, etc.

what are your tips for aspiring entrepreneurs in Oman?I cant say enough about the need for SMEs to under-stand their business, target market and financial model. I see too many startups tackle businesses that have been done 500 times. And they do it without understanding the pitfalls of entering a saturated market. This is a time of great innovation and

disruptive ideas. But ideas are a commod-ity. Only those that know how to implement will be successful.

The best approach to starting a business is simple. Read, ask, compare. Voraciously read about the market you want to enter, read about startup business models, read about competi-tors, research market data, go-to-market strategies, etc. Google is your friend. Tap into the worlds collective knowledge via Google. Ask anyone who will talk to you about your idea. Use their feedback to dig deeper and convince yourself that youve got a winning idea. Dont get married to your idea too soon. Give yourself time to research every aspect of it. Reach out to industry associations, search for industry experts on LinkedIn, connect with people or lead-ers who may have expertise. Allow yourself to formulate multiple ideas. Then, com-pare: who is already doing it or something similar to it. Look at potential competi-tors, collaborators, and stra-tegic partners. And most im-portantly- surround yourself with people who understand what you are going through and can support you. Thats what Startup Oman aspires to be- the place entrepre-neurs call home.

perspectives on the Omani smE sectorSherry Colbourne | Managing Partner, Startup Oman www.startupoman.om

Building an ecosystem

A selection of the Oman Entrepreneurship Awards winners with Entrepreneur Middle East Managing Editor Aby Sam Thomas

Mona Al Shukairi, founder, Al Joory Boukor

>>>


Chris Broad | Specialist Mentor, Riyada, and Lecturer, Central Bank of Omans College of Banking & Financial Studies

perspectives on the Omani smE sectorBuilding an ecosystem

INNOvaTOR

Nadia Maqbool, founder, 23 Degrees

Chris Broad, Specialist Mentor, Riyada

of them stop them either- they were relentless in their vision for their businesses, spurred on by a need to do something different, not just for themselves, but for their nation as well. Consider Dar alHerfya CEO Zuwaina Sultan Al-Rashdi, whose Omani handicraft business led her to be declared as the Best Female Entrepreneur at this years awards: her enthusiasm for her enterprise is almost infectious, and she has big plans for its future. My vision for Dar alHerfya is global, Al-Rashdi says. I want to feature our Omani products around the world.

Their big dreams not-withstanding, these Omani entrepreneurs are eager to see more backing for what they do from their ecosystem. While they are glad and proud about the recognition they have received from Riyada, they all agree that there needs to be more active support for entrepreneurs in Oman, especially in their early stages- thats when they really need the push to keep at it with their enterprises. From Riyadas standpoint, Al Abri acknowledges this demand, and reiterates his organizations commitment to its mission of working for the SME sector in Oman.

However, Al Abri also cau-tions against entrepreneurs stepping into this field with-out the requisite preparation needed for such endeavors. One of the mistakes [Omani entrepreneurs] make is that they think they can establish a business today, and the next day, all the doors will open to them to start doing business, he says. But thats not how it happens in the real world. Al Abri adds that entrepreneurs also need to do their home-work before starting up- a thorough understanding of the business and its markets is absolutely necessary, along with proper management of their accounts, human resources and other such vital cogs of running an enterprise. Of course, Riyada is there to help, Al Abri says, with every-thing from helping with the procedures and processes, to pushing government authori-ties to help SMEs start up and develop their businesses. And so while Oman may not have an ideal entrepreneurial ecosystem yet, Al Abri notes that work has begun in this regard, and the country as a whole which includes every-one from the population to the government- is adamant on giving this sector the boost that it needs and deserves. Heres hoping.

whats your personal take on the entrepreneurial eco-system of Oman?I think the ecosystem is in some instances very devel-oped; however, there is still a silo mentality and an appar-ent difficulty in getting all the various components and ini-tiatives work-ing together cohesively. The opportunity is there for an umbrella orga-nization, such as Startup Oman, to provide a hub environment through which entrepreneurs can access experience, finance and skills to be able to go-to-market more effectively. Oman needs a consolidation of the various SME initiatives as well as the development of incubation environments out of govern-ment and/or large corporates CSR program oversight we have a private organization in Muscat, called The Lounge that does just that and they have first mover advantage in this space. You cant mandate creativity and entrepreneurial thinking by way of govern-ment fiat. Big business and entrepreneurship are a natural fit and we must move away from programs that leave entrepreneurs feeling like theyve become some-ones PR exercise.

The problem is the rentier economy, which has led to a dependency and handout culture amongst many. An unforeseen consequence of stability has been the stunt-ing of initiative to the degree that one is asking permission

to think out of the box. Its a challenging starting point. Whilst it is true that the diversification policy has had many notable successes its inherent command and control nature has disad-vantaged the economy as it goes into this new reality.

The role startups have to play front and center is critical however, inertia and dirigiste central planning is a hurdle to be addressed. Oman has a pool of young gifted youth to draw from, and I think if they are given access to alterna-tive sources of funding and regulators get out of their way, the result can only be new business, job creation and economic growth.

what are your tips for aspiring entrepreneurs in Oman?Stop asking for permission, if you dont have it go get it, and stop waiting for the government, or some expert to tell you when and how and if you can go about it. They have to be hungry for it. Some just think its a cool moniker to bandy about before they get a job as a bank clerk. For me, entrepre-neurship is the pursuit of opportunity beyond resource control these guys have done this on their own volition.

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91739_Saxo_Price_Campaign_CEE_EN_ad_203x273_pr.indd 1 29/02/16 15:55

gAmE ON


IN THE LOOP

BEIRUT TO HOST MENA GAMES CONFERENCE

2016 IN APRIL

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AIM 2016 hopes to keep Dubai as an international investment hub

Retail Leaders Circle 2016 to gather GCCs retail

industry leaders for a stronger market

AIM 2015

MENA Games Conference 2015M ENA Games Confer-ence 2016 (MEGA 2016) is back in Beirut this year from

April 7-8, 2016 for its second edition, with an expected turn out of 800 participants across areas of game developing, pub-lishing, infrastructure providers and online advertising. The event aims to promote and grow the regional gaming industry by of-fering a platform for regional and

international gaming companies and upstarts to accelerate busi-ness growth. On the agenda of MEGA 2016 is a series of game development workshops, keynote addresses on MENAs gaming ecosystem by industry leaders, Q&A sessions and pre-arranged B2B meetings for busi-ness development. Speakers at MEGA 2016 include Jason Della Rocca, co-founder, Execution Labs, Amir-Esmaeil Bozorgza-deh, co-founder, Gameguise, and Brie Code of Ubisoft among others. Running parallel to these events will be the second edition of Arabic Game Jam, an event attempting to encour-

age the proliferation of regional games, where game designers, programmers or even those just passionate about gaming team up to create an Arabic game in

48 hours. MEGA 2016, organized by the IFP Group, counts Gaming Istanbul, Noridic Game and Game Connection among its conference partners. www.menagames.com

Under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice Presi-dent, Prime Minister and Ruler of Dubai, the 2016 edition of the Annual Investment Meeting (AIM) will take place at the Dubai World Trade Centre from April 11-13, 2016. Organized by the United Arab Emirates Ministry of Economy, AIM 2016 will be a step up from previous editions. In addition to a panel of speakers who are experts in investment, specifically Foreign Direct Investment (FDI), the organizers have added some more events and facilities to the three-day conference. With several exhibitions and organized networking

events between investors and industry leaders, the organizers will also pro-vide a platform to help SMEs go global. The speakers come from a wide variety of backgrounds, from FDI experts to industry leaders, including Andrea E. Goldstein, Head of Global Relations, Organization for Economic Co-operation and Development (OECD), Arif Amiri, CEO, Dubai International Financial Centre (DIFC) Authority, and Mira A. Jabr, Global Director FDI, Conway, Inc. The event boasts of supporting partners that include the Australia Arab Chamber of Commerce & Industry, Arab Business Leaders, and the Indian Business & Pro-fessional Council. www.aimcongress.com

The New York Institute of Manage-ment (NYIM) will be hosting the 2016 Retail Leaders Circle (RLC)

in Dubai. The two-day event will take place from next spring from March 22-23, 2016 at the St. Regis Dubai Hotel. Expect a variety of speakers from regional and global retail groups, including Nisreen Shocair, President of Virgin Megastores MENA, Norma Taki, Partner, Retail & Consumer of PwC, and Mert Askin, President, of the Azadea Groups Food & Beverage Division.

RLC has put together a significant advisory board, with big hitters like Saks Fifth Avenue, Landmark Group, and IKEA executives confirmed, mean-ing that attendees will be hearing about the most pressing retail sector issues. The subject matter goes well beyond sales -what one might expect from a retail-focused conference- with topics including corporate culture and branding, in addition to discussions on human capital (like strategizing staff engagement and retention). At-tendees will also have an opportunity to network throughout the two-day conference. www.retailleaderscircle.com/uae


INNOvaTOR

By Aby Sam Thomas

Quality control

We managed to build a great team in dubai, mixed With some veterans from aubaine london to take care of aubaine dubai.

Restaurateur Hani Nakkach on bringing London-based Aubaine to Dubai (and why hes doing it himself)

Aubaine at Dubai Mall


We dont franchise- never have, and never will. Thats the response

I get when I ask Beirut-born restaurateur Hani Nakkach about the strat-egy he used when going about the January launch of the first international location of his London-based French bistro, Aubaine, in Dubai. We decided to open in Dubai when we found the right partner who shares the

same DNA and vision as us, he explains. We run every site ourselves, as we want to be sure the quality and brand ethos is always upheld. We managed to build a great team in Dubai, mixed with some veterans from Aubaine London to take care of Aubaine Dubai.

And Nakkach himself is on the ground for his enterprise in Dubai- its easy to see that hes a hands-on entrepreneur who is a stickler for

detail. I split my time now between London and Dubai, but have put my focus more on Dubai, especially during the opening months, he says. We have The Dubai Mall location up and running now, with the second location set to open its doors in spring 2016 in City Walk 2. While Dubai may be a



Firstly, have passion. The restaurant business is one of the toughest businesses out there, and it needs hard work and dedication. Second, understand your market. Third, ensure you have consumer touch points within your concept that will resonate with them. Fourth, take your time to perfect the concept prior to finding a site. Fifth, choose your location carefully since the best concept in the wrong place often fails. Sixth, employ experienced people and look after them. Finally, dont cut corners. Or else, in the long run, you will lose.

Tips for Treps AUBAINE FOUNDER HANI NAkkACH

we run every site ourselves, as we want to be sure the Quality and brand ethos is always upheld. we managed to build a great team in dubai, mixed with some veterans from aubaine london to take Care of aubaine dubai.

With the aubaine expansion, i have alWays been careful to ensure We can maintain our high quality offering, as our clients visit several sites, not just one.

Hani Nakkach, founder, Aubaine

new location for Aubaine, it must be noted here that Nakkachs concept that has worked quite well in London- launched in 2005, the enterprise to-day has ten of its restau-rants spread across the citys various neighbor-hoods. Our USP is fresh, honest, French food, he says. Everything you eat in Aubaine is made by hand, daily- the bread, the patisseries, the juices, all the dishes offered on the menu. Adding to the restaurants appeal is its exposition of the rather French emotion of joie de vivre: Aubaine has al-ways had a neighborhood feeling to it, never that of a chain or franchise, and it is that inviting ambience, coupled with the high quality of our food and ingredients, that we have been able to reproduce throughout our other locations, Nakkach explains. Aubaine is as relevant for a dinner with colleagues or friends, as for a quick coffee and breakfast, or to pop in and choose some bread and patisserie to take away. As for Aubaine Dubai, Nakkach is keen for it to reflect the char-acteristics of its London counterpart- this, he explains, is the overarch-ing theme governing

the restaurants growth strategy. With the Au-baine expansion, I have always been careful to ensure we can maintain our high quality offering, as our clients visit several sites, not just one, he explains. The future is to build a highly respected global restaurant group with the aim being to always maintain our high standards of production, service, and ambience. There is a bright future for Aubaine, and I can see us expanding more, espe-cially within the Middle East in the near future. But why start with Dubai? Many leading brands in the world have set up in Dubai. Dubai is becoming the culinary center of the region. Plus there is a special connec-tion between Dubai and London lots of our loyal customers live or visit Dubai regularly Start-ing up in Dubai was also very exciting for me, as we got to see Aubaine in a different setting, since it is our first international location. I felt very happy with the opening, as it was great to see so many familiar faces and see the amount of costumers we had in our first week. This showed us that the Aubaine brand is a global brand that is known and

loved from London.But while Aubaine may have the makings of a global brand, Nakkach is in no hurry to expand either- he claims his immediate focus is on the Dubai location. I would certainly consider opening more sites glob-ally, and of course across the GCC, if we feel the right opportunity arises. However, my immediate concern is to ensure we continue the initial suc-

cess of Dubai. We were delighted to have done 800 covers a day in our first week, and I never want to compromise our quality, and the Aubaine experience and ambience for our customers.


INNOvaTOR

By Aby Sam Thomas

PicturePerfectHow silicon Valleys first Billionaire grew His

startup to dominate tHe gloBal market

ShutterStock founder and ceo Jon oringer


i always say i want to hire entrepreneurs. these are problem-solvers by nature and self-starters by habit. you Can never have enough people like that in your Company, whom you trust with the work that needs to get done.

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Hes been called Silicon Valleys first billionaire, and hes also been called the coolest person in New York tech, but ask Shut-

terstock founder and CEO Jon Oringer what he thinks about all of these titles that have been bestowed upon him by the press over the years, he seems eager to dismiss them, and direct our atten-tion to his company instead. Although I love to see Shutterstock in the news, I dont pay much attention to what people say about me, Oringer says. I am focused on growing the business, and making sure that we are delivering the best possible product we can to our customers and our contributors. At first glance, Oringers response might seem a tad too humble coming from an entrepreneur as successful as he is, and hence, a little hard to believe (yes, we journalists are a cynical bunch), but consider his statement with Shut-terstocks current standing in the market as the backdrop. For a company founded only in 2003, Shutterstocks growth has been truly exemplary- it was once just another New York City-based startup, but today, it is a global media marketplace (valued at US$2.5 billion in April 2015) featuring more than 70 million pieces of content, an admirable collection that includes images, videos and music, with the website having enlisted more than 500 million paid downloads to date. With numbers like that to boast of, Shutter-stock is easily one of the better startup success stories out there- and its safe to say that this wouldnt have been possible without Oringers singular vision for his enterprise. By keeping his focus consistently on the company, its products and its clients, Oringer has seen Shutterstock through more than a decade of success, and once you reflect on that for a bit, its hard not to nod along to his above proclamation.

Shutterstocks origin story has become somewhat of a legend now, but it bears repeating again because it remains an excellent example of how entrepreneurs need to be solving

a specific need when it comes to setting up an enterprise, and also of the importance of being persistent in ones road to achieving success- Oringer is a serial en-trepreneur who founded ten companies before Shutterstock turned out to be the hit he was looking for. I always knew I wanted to run my own company, Oringer remembers. It was just a matter of figuring out what that com-pany was. I toyed with different ideas, and some seemed to really take, until they didnt- an online pop-up blocker company I ran was toppled overnight when Microsoft Explorer introduced a built-in solution into their browser. But the one commonality to all of the companies I founded was that op-tions for affordable stock imagery for

marketing or websites were incredibly limited. So I set out to take my own pictures and to license them to others at a nominal cost. I shot 30,000 images in the first year alone. I coded the site myself, and we were off and running, back in a time when there were not a lot of tools out there to help you start your own business. As an entrepreneur and a business owner, I knew who my customers were, and the challenges they faced trying to find the right im-age to market their business. And we

all know what happened afterward. I am proud to say that Shutterstock revolutionized the stock image industry by throwing out all the complex rights and offering a simple subscription model, Oringer declares. It wasnt just that I understood the pain points in the process- I learned from my own frustration trying to use a traditional stock-imagery company, and I looked for ways to make it better.

And Oringer did make it better- that is essentially why Shutterstock today has over one million active customers in 150 countries around the world. But its important to note here that Shut-terstock isnt resting on its laurels- on the contrary, the company is keeping a close tab on whatever is being said about it or the industry around the world, and is on a seemingly relentless pursuit to better its offerings for its customers. I realized this first-hand when an obscure tweet I made about the difficulty of finding the right stock image led a member of the Shutterstock team to get in touch with me, and further, give me a potential solution to the problem I was facing as well. This whole episode took me by surprise- a pleasant one, of course, but it bears testimony to the importance of compa-nies, be it startups or conglomerates, keeping an ear to the ground in terms of customer feedback. We have a healthy feedback loop with customers, Oringer says. They tell us through research we lead and customer-service inquiries they initiate what they want more of. >>>

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INNOvaTOR

1. Start building Whether youre an engineer build-ing websites, or a photographer building your portfolio, theres no excuse for not getting started right away. Youll learn more at the beginning of the process than at any other time.

2. love the unknoWn the best business ideas come out of seeing whats not there, whats not available. think about why its missing. is it actually impossible, or has nobody gotten there yet? thats the key question to success.

3. believe in YourSelf each time one of my businesses failed, i dusted myself off and looked for the next big opportunity. blame timing, the idea, other fac-tors, really anything else, but dont blame yourself. i actually launched four businesses at once, figuring that might increase my odds at find-ing the big idea that would carry me. dare to be daring.

4. truSt market reSearch ask your friends what they think about the problem youve identified and listen to their feedback. if you can find people who are directly impacted by the problem, thats even better. i wasnt a born photog-rapher, but i grew into it because i was witnessing the passion and enthusiasm photographers carry with them every day. i wanted to be a part of that.

5. take big riSkS dont be disheartened by failure, embrace it. have the courage to ex-periment and the willingness to stick around when the odds are stacked against you.

SHUTTERSTOCk FOUNDER AND CEO JON ORINGERS TIPS FOR ENTREPRENEURS

sTarT up like a pro

Shutterstocks Empire State Building Office

Shutterstocks office

Opposite page:Jon Oringer, Shutterstock founder and CEO in front the of the New York Stock Exchange after ringing the bell to start trading under the ticker SSTK

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Our tech and UX teams are responsive to what were heading, working in tan-dem with the support teams to ensure that customers are a major component of what drives our decisions and in-novation. Then we hear again from the same customers about how satisfying it is that their suggestions and messages were heard and acted upon. As the CEO, that commitment to customer service starts with me. I learn something new on Twitter every day, paying close attention to what people are saying about us and our products. If you run a company from inside a closed-off world where the only people you interact with are your own executives, youre not doing your job right. Everyone here is responsible for customer service to some degree.

Shutterstocks dedication to its cus-tomers is also reflected in the acquisi-tions it has made in the past few years. In January 2015, Shutterstock acquired Europes largest independent photo press agency Rex Features for $33 mil-lion, and stock music and sound effects service PremiumBeat for $32 million. Our first major acquisition was Web-DAM, which gave our customers a bet-ter tool to keep track of and collaborate with all the imagery and assets they purchase from us, Oringer remembers. As I looked to scale our business over

recent years, we identified the areas we wished to pursue, and when we assessed the landscape, these were the companies that shined. We bought Rex Features and PremiumBeat because theyre the best at what they do- edito-rial imagery and music. REX (now REX Shutter-stock), and our partnership with PMC have quickly

allowed us to ramp up the editorial content we are able to offer our cus-tomers. In the meantime, Shutterstock continues to innovate from within as well. Moving forward, we are growing Shutterstock to include workflow tools for busy marketing and creative profes-sionals, Oringer explains. In Decem-ber, we released Shutterstock Editor, a fast and simple way to edit photos. The response to it has been fantastic. And were just scratching the surface with tools that can help our customers have a better experience.

Oringers drive to continuously in-novate at Shutterstock and succeed at that too, by the way- is particularly interesting when you consider that the company is, well, no longer a startup. So, one has to wonder: how has Oringer managed to maintain that en-trepreneurial mindset with which his >>>


INNOvaTOR

JON ORINGER ON HIS COMPANyS PRESENCE AROUND THE GLOBE

ShutterStock and the Middle eaSt

in deCember, we released shutterstoCk editor, a fast and simple way to edit photos. the response to it has been fantastiC. and were just sCratChing the surfaCe with tools that Can help our Customers have a better experienCe.

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Shutterstock Offset

Dubai-based photographer

Daniel Cheong

company was founded in the first place? The answer: its all thanks to the people at Shutterstock. I always say I want to hire entrepreneurs, Oringer says. These are problem-solvers by nature and self-starters by habit. You can never have enough people like that in your company, whom you trust with the work that needs to get done, but also with the vision to foresee where we should go next. Oringer also points toward diversifying a business as a way to stay true to its startup origins. You can also maintain the small-business feel by launching other arms of your business, he explains. Our enterprise sales team kept on hearing from clients that they wanted higher-end photography to license, so we decided in 2013 to create Offset. This team of 10 sits among us, shares resources and support from Shutter-stock, and helps remind us of how much you can get done on a given day if you work to-gether. Offset, in some ways, resembles the early, scrap-pier years of Shutterstock. In addition, every summer we host an annual hackathon for our employees, where

they have 24 hours to form teams, develop an idea, and collaborate on a tool or feature that they can show off to a judging panel of ex-ecutives. I served as a judge for our inaugural hackathon; however, I really wanted to be out there hacking with the rest of the people. These events are a great opportu-nity to get back to basics. This year we launched a product, Shutterstock Tab, that was a direct result of one of our hackathons. What about Shutterstocks competition in this space? Oringer doesnt seem too worried, and brings it back to Shutterstocks culture. If were committing to the right strategy and innovation, we dont need to pay any atten-tion to what the competition is doing, he says. We focus on executing our plan, and moving forward.

International growth has been key to Shutterstocks growth strategy. We want to be everywhere for everyone. That takes time. But were on the right track: 70% of our business comes from outside the United States.

Authenticity is the name of the game these days when it comes to marketing materials and showcasing your brand. Our data shows that the demand for images of Middle Eastern people is the fastest-growing change among searches year over year. The Shutterstock col-lection is constantly adapting to reflect diversity and the world we live in today.

We need to offer local content to our customers, no matter where they are. Were always actively recruiting new contributors to help us, asking them to shoot their friends and family and their

regular lives. Were making strides to get to know the local traditions and creative preferences. These artists know their craft and their region best of anyone, and we leave the camera in their hands. Its our job to find them, bring them aboard, and to showcase their beautiful imagery. We work closely with Dubai-based photographer Daniel Cheong, as an example, whose archi-tectural images from Dubai and surrounding cities can be found on Offset.


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We cant really discuss ethical leadership without looking first at ethical behavior. Ethical behavior, in its simplest form, is knowing and doing what is right. The key to having an ethically-run company is employing morally upstanding leaders. In her book, seven lenses:

learning the principles and practices of ethical leadership (2013), author Linda Thornton says that getting employees to act ethically in the workplace starts at the top. In fact, managers should realize that their actions have a trickle-down effect within the company; employees will likely follow the lead and model their actions.

how to be an ethical leaderAction this big ideA for 2016 By Suhail Al-Masri

EThIcs | ESQUIRE guy | sKIllsET | mARKETINg | pROTREPONOMICS

>>>

With the awareness about the importance of business ethics, Bayt.com embarked on a research journey into Ethical Leadership in the Middle East, which we did in collaboration with Canadian University Dubai (CUD). The poll showed that the building blocks for a more sustainable form of leadership in the region indeed exists.

many define business ethics as being socially responsibleWe often hear about the negative impact of making ethical mistakes in business. We hear about fines, boycotts, and very embarrassing scandals that make us doubt the very integrity of organizations we admire.

What we dont hear often about are the benefits of ethics, and how ethical leadership can have a positive ripple on business- especially when its programmed into an organizations corporate

culture. These days, its more important than ever before to program ethical leadership by having set ethical guidelines and

procedures. Leaders who understand this are more likely to attract top employees and clients. When they set the

right example for other employees, they help create an environment that encourages good corporate citizenship, and that motivates employees to perform better and more innovatively. The majority agree that everyone is responsible for being ethical37% of respondents in the Bayt.com poll on Ethical Leadership in the Middle East view business ethics not just as being legally compliant, but also engaging in socially-responsible activities. 65% see ethics as the responsibility of everyone in the organization.

In your effort to promote ethical behavior throughout the organization, try to develop a transparent work culture to both your employees and stakeholders. Make sure that company information


is always available to those who need it, and demonstrate transparency in your decision making process. Employees are much more likely to reciprocate when managers exhibit trustworthy behavior. leaders are setting positive examplesEthical leaders are those who display a good image of the business, and in turn, attract and retain the best talents. Good news is, 75% of professionals in the Middle East affirm that their managers often set an example of how to do things ethically, as revealed in the Ethical Leadership in the Middle East poll of January 2016.

leaders are listening to their employeesDevelop an honest work environment where employees can report unethical behavior without fear of punishment. No one wants to be considered a

snitch, so gain confidence and trust by providing a private space to discuss any concerns anonymously. Investigate the claims fully, before jumping to conclusions, while maintaining the anonymity of your employee. Then discipline or reprimand, if necessary, in order to establish that some actions are not accepted, and will not be tolerated. 72% of professional respondents in the same poll (Ethical

Leadership in the Middle East) say that their managers discipline or reprimand employees who violate ethical standards. leaders are talking about ethicsAccording to our poll on Diversity of Thought in the Middle East, released in October 2015, 88% of professionals in the region are comfortable sharing their views at work, even if it goes against the majority. Today we see more and more leaders who are encouraging their employees to communicate freely and openly and not restricting their thought process and ideas. By doing so, a leader would not only be promoting an environment of honest and open communication, but also showing staff trust and respect. At Bayt.com, for example, we offer an online platform, Sawtna, where employees can voice their

concerns. We also conduct town hall meetings across our offices so employees can interact with management and give their feedback on issues that affect them. Recommendations: how managers can program ethics into their leadership style We cant talk about ethical leadership without providing a guideline to managers who want to program ethics into their corporate culture and leadership style. Here are seven ways managers in the Middle East can promote ethical behavior:

1. dont think about ethics as just following laws and regulations. Leaders need to take action and show consumers and other stakeholders that they are actively engaged with ethical issues that matter. Recognize how ethics influences consumers

EThIcs | ESQUIRE guy | sKIllsET | mARKETINg | pROTREPONOMICS

HaVe a clear code of conduct. codes of conduct are required to Help employees discern tHe different sHades of grey in tHe etHical continuum. it is essential tHat training and explicit discussions aBout etHical issues are conducted regularly.


Lama Ataya heads the Marketing department at Bayt.com and within that role is also responsible for communications, content, community experience, and corporate social responsibility.

reasons to buy from you, and demonstrate a commitment to go beyond mere compliance with laws and regulations. They must prove that they are committed to ethical issues, including human rights, social justice and sustainability.

2. care about people before profits. Realize that the triple bottom line of people, planet and profits is not only about prioritizing people over profits, but also thinking about how your company affects the planet and adopting environmentally-friendly ways of doing business.

3. Ethical behavior is reciprocal. Employees are more likely to reciprocate when their managers exhibit trustworthy behavior, so it is important to demonstrate fairness and transparency in all your decisions.

4. democratize decision making. Asking for feedback and suggestions from your staff will show trust and respect for their opinions.

5. share and delegate. Sharing information with and delegating tasks to your team will empower and motivate them, yielding tremendous dividends in their creativity.

6. communicate. Being an ethical manager is about clearly communicating what is acceptable behavior, and what is not, and ensuring your employees understand that you have an open door policy to discuss any situation where an ethical decision is

needed. Prevention is better than cure.

7. have a clear code of conduct. Codes of conduct are required to help

employees discern the different shades of grey in the ethical continuum. It is essential that training and explicit discussions about ethical issues are conducted

regularly. Include ethical behavior in performance metrics and employee reviews, and set the right cultural tone right from the start.


SEVEN BODY LANGUAGE CUES ENTREPRENEURS NEED TO BE AWARE OF

FOR EFFECTIVE COMMUNICATIONBy Neil Petch

Sending the right message

TREPONOMICS EThIcs | ESQUIRE guy | sKIllsET | mARKETINg | pRO

studies show that ges-turing with your hands naturally while you speak will help improve your Credibility, and there is also evidenCe that it aCtu-ally improves your own thought proCess.

Whether we realize it or not, we are con-stantly

giving off body signals that affect how others perceive us. Body language is in fact so important that it is actu-ally thought to account for almost 60% of our effective-ness in communication. This means that the success in which we convey our mes-sage is in fact more depend-ent on our body language than it is on our words. In a business context, body language can be considered a skillset that you would be wise to develop and refine. To some it comes naturally, but Ill bet the great commu-nicators have spent their fair share of time in front of the

mirror practicing hypotheti-cal deliveries. With that in mind, this article takes a look at some of the obvious and not-so-obvious body language cues and move-ments and actions that the entrepreneur can practice up on. Pick one or two to work on this coming week in your meetings with clients and colleagues, and as you do, see if you can gauge the effect they are having on the other person. Perhaps you will get a sense of a higher level of trust or comfort coming back to you, which is often exactly what the master communica-tor is after.

1. SMILE Lets start with an easy one: remember to smile, and make it genuine. Smiles are contagious, and studies show

that going into a business discussion wearing one can help reduce the often high stress levels or tension that are part and parcel of the corporate world. Studies also show that a simple smile encourages those you are talking with to open up more quickly. And here are a few fun facts: according to research by the science journal PLOS ONE, smiling in the workplace can increase your chance of securing a promotion, and smiling in general makes you appear more intelligent to others.

2. MASTER THE HANDSHAkE While youve probably heard about the power of a handshake countless times by now, it still has to be added to this list. A strong handshake goes a long way in how you are perceived

particularly by those who you are meeting for the first time. Many psychologists state that on average, we judge a person within seven seconds of meeting them, and according to the University of Iowa, a solid handshake is more important than our dress sense or personal appearance when it comes to how positively or negatively we are perceived. So how to do it right? As you would expect, avoid extremes. Th

Entrepreneur Qatar March 2016 | Envisioning Tomorrow

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