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Posts Tagged ‘Entrepreneurs’

Compilation: Management & Personal Development

July 18, 2013 2 comments
Personal Development

Personal Development

I was asked by some of my friends to compile related articles together in an accessible way. Thus, I’m posting this as a simple compilation of relevant articles under the theme of “Management & Personal Development”.

Check the links below of the aforementioned articles:

 

I hope you enjoy the articles and feel free to subscribe to my Blog for regular updates.

 

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Guest Writer: “#1 Business Startup Killer” by Roger Khater

October 1, 2012 2 comments

Dear Reader,

I’m glad and proud to present to you my third Guest Writer on the blog, Mr. Roger Khater.

Roger Khater is a Serial Entrepreneur with an Electrical Engineering degree from USJ/ESIB; in addition to his responsibilities as the Managing Director at IP Engineering Pro, he has main board roles and major managerial functions in Caliber Workforce (Human Resources Services) as a Partner and Maktabi (Virtual Office Services) as the Owner. Roger also serves as the President of the PMI Lebanon Chapter.

To know more about Roger, check his LinkedIn Profile or email him at i@rogerkhater.info

Enjoy the read!

Afif

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Many entrepreneurs whom I often meet have great business ideas, very few though have a good business plan, and the worst are the ones who only have a fancy website, a distinguished business card but no or not enough clients.

Call me old fashioned but the truth remains, starting a business is all about selling, assuming the business idea is viable. The act of selling involves customers, who are real people after all. So bet on people and invest in relationships.

What is the #1 business startup killer nowadays?

It is the course of actions that is driving our young entrepreneurs into having all the necessary business vehicles, from business identity, to website, to social media, etc… But they forget the key business aspect that is to sell their products or services to real people.

I never recall selling anything to a sheep.

If you have a business idea, don’t waste your time, just sell it. Get your first few customers and leverage on them. Capitalizing on your personal relation, enhance the trust quickly and stay close when needed.

Forget about the shiny stuff, they will eventually come at a later stage.

After a few successful deals, reassess your market in $ value, know your competitors, they exist in one form or another, and only now you can decide if the market size is enough or suitable for you. Embrace this market, make it your target, position your portfolio, have a value proposition and again go sell for more.

If after 2 years you are still stuck with few customers that do not generate enough income, drop the idea, change business line and redo the exercise better. Always ask for help, you need that, secure as many mentors, they will make a difference.

The key to success is gaining customers by selling to people.

The accessories are merely a plus.

 

Project Management for Entrepreneurs

July 2, 2012 5 comments

I have been doing some enthusiastic research on the topic, and I have come to realize that most of the current corporations and governments are not being able to provide enough jobs for the hundreds of thousands of young Arabs who graduate every year. Besides, those amongst them that were planning on emigrating lost their chance to travel to the US or Europe for dream jobs due to the economic downturn.

With 60% of the Arab nation being under 30 years old, the number of educated individuals is rising, and yet the supply of jobs is inadequate. In this context, numerous institutions, banks, and government agencies are focusing on fostering entrepreneurship among youth.

Consequently, hundreds of startup projects and initiatives are being launched annually by young entrepreneurs who have the education, the idea, the drive, but lack the experience and the systematic approach to enhance their chances to succeed in their ventures.

This gap has certainly led to numerous failed initiatives, shattered dreams, and lost investments. Imagine all those young aspiring youth, full of enthusiasm and creativity, but crushed by their own inability to drive their business enterprises to success.

The fact is, good ideas are a dime a dozen. The true value is in the ability to transform those ideas into reality…and rare are those that have the intrinsic knowledge to go through the process. In this context, I have realized that project management skills, knowledge and tools come in very nicely to fill a gap for the aspiring entrepreneurs and empower them to be able to transform their ideas into a reality.

So after some well-thought of analysis, I have pinpointed 5 project management mantras from which entrepreneurs can surely benefit from:

  1. Ability to clearly define the scope of their startups, products, services and communicate it clearly.
  2. Knowledge of how to break down the scope of work into clear and comprehensive work packages, schedule the work packages, and work on a budget accordingly.
  3. Skills in recruiting the right people, engaging them, and motivating them to work synergically.
  4. Communication skills with main focus on unifying terminology used, choosing the proper communication channels, and disseminating the right information.
  5. Expertise in understanding possible risks that are inherent to new ventures and ways to manage them. This usually becomes better with time…trial and error being the best tutor.

That’s what I have in mind so far, I hope it helps. Knock them out!

 

Other articles that might be of interest:

Arab Spring, the Economy & Social Entrepreneurship

November 6, 2011 22 comments


My dear reader, for a while now we’ve been hearing endless analysis, campaigns and strategies about each one of the above topics individually..from the Arab Spring to the Economy in the Arab world and last but not least “the” topic in town: Social Entrepreneurship.

What I’ll be doing in this article is drawing on the inter-connectivity of the 3…specifically to shed light on the big picture of the current Arab world and how things are heading.

The whole discourse is based on readings, observations, analysis and discussions I had with people across the Arab world from opinion leaders, to CEOs and senior management of companies, activists, governmental officials and so on. Here it comes…

The so called “Arab Spring” started from Tunisia, where Boazizi put himself on fire to revolt in the face of injustice, lack of work opportunities and his sense of hopelessness… he just gave up on his life and on going anywhere but downhill. Yet, Boazizi was not an ignorant man nor a weak person, he was a man of modest education, hard worker and a lot of perseverance. Yet what he lacked was a job, a sustainable and decent income for himself and his family. His story isn’t an “island” but rather a story shared by so many across the Arab world, from illiterates to PhD holders, who are facing difficulties in finding a job…and the unemployment rates are soaring higher than ever.

With the youth bulge in the region, which the World Bank estimated in 2010 that 60% of the Arab world are people under 30 years old, the market is becoming a highly competitive place for job seekers. Millions of Arab youth are working hard on getting their education, graduating and then…the rest is unknown. The funny/sad matter is that the higher the degrees the youth are getting, the harder it is to find a job in their hometown. One asks himself the question of why? How come? …but the answer is simple..there aren’t enough jobs out there…the infrastructure and companies aren’t equipped well enough nor are they growing fast enough to accommodate for this influx of highly educated workforce…and the list can go on.

Consequently, most of those youth who are jobless and are not being heard…have no where to go but the streets…to demand change..to demand jobs..to demand their dignity to be safe-guarded…and when you have thousands and millions of educated people either in low-paying jobs or jobless …they will revolt…they will seek to make things better…one way or another.

Now the case is that many Arab countries, the economic status they have is different, the social behaviors are different, norms and cultures may also be different…yet what all of the revolutions have in common is demanding change..a change in governance…a change to the better…a change to put up leaders who care for the nation more than they care for power…a change that will bring about economic growth, jobs, resources, dignity for the people and a sense of equality and justice.

Now if we take a bird’s eye view on this whole matter, and with some research into past revolutions across the centuries from the French revolution until today…one can simply realize that after every revolution..there comes some chaos before order is restored…and things will look better hereafter, much better.

Moreover, how things will look in the future…is not much of a mystery either…history repeats itself, with minor modifications. The issue in the Arab world is not the lack of money or resources, there are billions of it in cash yet it’s how we’re making use it(or the lack of).

In this context, the future of the Arab World in the coming 10 years will include the following general guidelines:

  • Educated youth will start seeking to create jobs for themselves, rather than seeking jobs. They will starting making some start-ups, capitalize on the entrepreneurial/innovative skills and become more willing to take risks rather than seeking a stable governmental/corporate jobs.
  • Numerous capital ventures, angel investors and impact investors will start popping up to support Social & Impact Entrepreneurs who not only seek making profit but also leaving a positive impact on the society along the way.
  • Arab nations will realize that each country will not be able to sustain and grow on its own … thus cross border/pan-Arab economic and infrastructure projects will be launched. From unifying electric grids, to opening borders for trade and travel, to creating joint ventures, to mega infrastructure improvements to lure more investments and build a ripe ground for further corporate growth. This will look something similar to the Marshall Plan set by the US to aid Europe rebuild itself and prosper post World War II, yet its Arab based for Arab’s benefit.
  • Family based businesses will nourish and especially those that are gulf based, state supported, and/or “royal”. With the rich getting richer, we can expect some major growth in family based conglomerates.
  • Educational systems will start shifting into more specialized degrees, informal learning, on-the-job learning, and major involvement of technology in the whole learning process.
  • Real-estate business will no longer be the major industry in many countries, to be replaced with other industries like ICT, manufacturing , agriculture, telecom, consultancy, tourism, research/think-tanks amongst others as well. Thus requiring a more diverse workforce.

The above 5 general headlines will start taking place naturally, one step at a time, to accommodate for the political/governmental changes as well as the expected chaos in some of the countries. These new opportunities and systems will encompass creating jobs for almost 100 million youth that will be joining the Arab workforce by 2020.

If jobs are not created in the thousands every month across the Arab world…the economies will not grow nor sustain, governments/dictators/leaders will tumble one after the other…until the wealth is more evenly distributed, dignity and financial-independence is secured for the millions who are graduating annually.

Until then…the Arab Spring will continue, chaos and instability in many countries will prevail until the void is filled and nations start rebuilding themselves, one brick at a time.

Other posts worth reading:

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