3 things UAE entrepreneurs should keep in mind when reaching for success

Firstly, there are a few facts I need to state before we begin: No one today can predict success, and luck plays a strong role.

While we take the above facts as a given, there are still a few elements entrepreneurs should take into account to maximize their chances of success in the UAE. 

I'll discuss a few of those elements in a little more detail below, to perhaps shed some light on what could be done to maximize our chances. 

Here are three things UAE entrepreneurs should keep in mind when reaching for success:

If you’re like me, this time is super exciting to be an entrepreneur. My biggest advice before you begin your business is to truly understand what the UAE’s vision is for the future and try your best to not only align to that vision, but participate in making it happen and play an active role in adding value to its mission. 

The vision set forward will be a guiding principle for a lot of the upcoming policies, investments, and focus of the UAE. This could present a huge opportunity for an up-and-coming entrepreneur. 

The best part is that you don’t need to look way ahead. In Vision 2021, which is just around the corner, UAE’s government sets to achieve the following: 

• Cohesive society and preserved identity
• Safe public and fair judiciary
• Competitive knowledge economy
• First-rate education
• World-class healthcare
• Sustainable environment and infrastructure 

Aligning to the above goals will surely go a long way in taming the element of luck.

UAE’s diverse population is truly a blessing all entrepreneurs should embrace and realize the incredible value of. In my opinion, diversity, be it gender or cultural, is a huge source of value that entrepreneurs should tap into.

Putting a multinational team together enhances creativity, increases relevance, and most importantly, tackles challenges better than homogeneous teams as quite simply, the team’s diversity is its strength.

The best example I can come up with to illustrate the importance of localization would be e-commerce. If you’re an entrepreneur looking to set up an online e-commerce business, you absolutely need to localize, not only your campaigns, the language used, and products or services offered, but also your business model itself.

COD (cash on delivery,) for example, is a no-brainer to take into account when planning to set up a business, in the UAE as well as in the region.

While the UAE is already ahead of its peers in the GCC countries when it comes to online credit card transactions, COD is still very much a reality. Which means entrepreneurs need to budget in the event the client is not home to pay for the item or has simply changed their mind.

Being an entrepreneur in the UAE is nothing short of exciting. Align with and support the government’s vision, embrace the diversity, and localize. You’ll increase your chances of success, decrease uncertainty, and most importantly, own your luck.

Between March 28-29, more than 6,000 techies will gather in Dubai for the latest in entrepreneurship, digital, fintech, and future tech.

STEP Start will be the home-base for founders, startups, and entrepreneurs. It will feature startup mentorship sessions, a flagship pitch competition, and partner activations.

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