Interviewee: Sayed Yousuf Ali
I interviewed a successful business owner from UAE. He has established many ventures in Midsection East. He's who owns Spyro International group in Dubai. He is basically into service sector and their services include Spyro Edu, Spyro Technology, Spyro Medicals, Able Joe Coal and oil etc. I personally admire him as he has achieved a lot in his young age. He owns the features and the ability of an effective business businessman. I assume that this interview will help us to comprehend the road that the entrepreneur chooses to visit.
Describe the business and industry.
This is actually a service industry. They provide customers with branding services. As part of this they carry out brand audit, review commercial marketing communication internally as well as externally. This will include advertisements, yearly accounts, trade show booth, brochures, sales sheet, video tutorials, press releases etc to show uniqueness of the client's business.
Describe the background of the business owner, education, family, pursuits.
Mr. Sayed Yousuf Ali who owns Spyro group decided to start his business in the entire year 1995. He hails from a business family. His forefathers were also into business and also have many ventures in UAE. He has completed his BE honors in Mechanised engineering. He worked in private sector for three to four 4 years in design executive, training and project planning. His dad is also a business personality & his mommy a housewife. He has a young brother is studying for treatments in United States. His passions are reading, get together new people, visiting & discovering new places etc.
Where did the opportunity for this business come from?
His forefathers were into business so seeking practical business was very apparent. Small fabrication product was always a wish but could not start that and were required to redirect activities to different guidelines. His experience and knowledge prompted him to begin business and was confident enough that he'll flourish. He was self-confident that he could come up with unique methods to help clients. He choose this business as it was a service sector which was near his internal desire.
What performed the businessman do to get ready to start the business enterprise?
When we take up a business there would continually be some unforeseen challenges that would arise. Because of this I prepared a small business plan. Business plan will not help when starting a business it but we can analyze the money options that we have, making crucial business decision, also helps to understand the industry and market.
How do the entrepreneur deal with any perceived risk prior to start-up?
Functional risk was one of the perceived dangers that the businessperson had to cope with. The services that we provide work and its results are accepted by the client was one of the perceived risk that he encountered. This is a business that promotes the clients business by providing branding services so primarily the clients won't have complete trust of the final results.
What major problems have the entrepreneur face during start-up?
To start this business the essential problem that he faced was the investment. Investment was necessary to loop in for starting the factory. So he came with a concept to align with lovers by advertising his ideas and impressing & convincing them to invest in the business. Unfortunately many supported out. Then he planned to start a small subsidiary in UAE i. e. Consultant anatomist service. This is a big strike with a good team, trustworthy & hardworking team. The profit that came up through consultant service was used to invest in Midsection East.
There were not many major problems. Although starting business in Middle East is simple but to get good trusted partners, proper documents visa formalities, paperwork to be approved by labour were frustrating process. Choosing of company name is also a concern as it should be approved by the Chamber of commerce. Catchy names are essential to business. Operating world what works are catchy name & quality products & services.
In the starting period of the business appointment highly experienced staff will not lift weights as a result of expense. To minimize short the expense we decided to go with employees with less experience which influences the jobs that we undertake. So most the task allocated to the employees would not be something they have specialised in it.
How were these problems solved?
Profit from the Consulting Company was found in the new project that sorted out the financial issues that arise when starting the business enterprise. As the corporation was unveiled in Dubai they acquired the name that we wanted.
Initial levels we just keep on investing in the business and controlling the expenses. We can not fully thing about earnings. It takes 2-3 three years to get surplus amount from the business. At this stage do maximum careers, synchronize the functions that will help you in long run.
Who have the entrepreneur use for help and guidance during getting ready to start-up their business?
He took direction from his daddy & grandfather who were already into business and also discovered a lot with his own experience & faults and as well as from people around him.
Who does indeed the entrepreneur consider to maintain his/her entrepreneurial network?
He considers himself on top of the series and wants at least be once in the Forbes journal.
What will be the entrepreneur's growths programs for the business enterprise?
Explore maximum of what's possible. Search for different service sectors & industry like advertising, medical center, talking to etc. Widen his horizon and learning maximum from it and planning investment profit a proper market. His major expansion plan is to start a fabrication product for machinery
What special steps have they take or are they taking at this time possibly anticipated to business slump?
If the business has proper amount of jobs coming in & proper move of money then even running a business slumps the business can stand well. But if the situation is certainly going worse we can have to speak to the employees and make sure they are understand that company will never be able to provide them with the same salary packages. Instead of sending them on long leaves or firing them we could reduce the salary in that case still the staff would have some earnings. At this stage the company also needs to avoid unwanted ventures and the money that will come in should be stocked up for future use.
What advice would the entrepreneur give to someone considering starting a company?
For the youngsters who are enthusiastic about starting an enterprise he encouraged that they should work for quite a while. This will allow them to learn & explore many departments. Understand the different arenas of job, get good contacts & then make investments into same field where you have gained experience. If indeed they have a very unique and particular idea which they feel would to enter the market then is going for it.
If you are from an enterprise family and is planning to get started on a fresh business then do take advice from your parents who already are into business. Review the industry that you are thinking about, plan everything and then make investments. But if your decision is incorrect then it would show an extremely negative effect on your loved ones business and will be a negative publicity for the other organizations.
The most significant advice is do not get depressed due to failures. Failures are the initial periods to successes.
Analysis: Following the interview think about the following:
What does you learn from the businessperson? Summarize what you discovered from this experience.
If we've the determination and the courage to stick out even in pressure & believe in ourselves and have the confidence to beat & tackle the problem we can succeed in future.
What could you have done in another way or what will you do in another way if you were to start-up your own business?
If want to get started on up my own business I'd like to work in the same industry for 4 to 5 years to understand the industry. Employed in a business & the pressures it builds up to finish job that we undertake will make us strong and successful. I would like starting business on a tiny range with my personal savings and a few as loan. I would not be planning to begin a business anywhere and then invest in Middle East. I would prefer directly trading the money in Middle East.
Now what do you think about as an entrepreneur in the UAE as a lady. What are some of the problems you think you would run into? Provide three problems you think you would come across and describe how you would beat each one individually.
Women in UAE can make incredible contribution business community. They are able to bring great deal of creative imagination to a small business firm. UAE women have more potential and can excel as managers, expert etc. They have sufficient wealth to get as well. The educational history of women in UAE in addition has changed. This all factors will contribute a UAE female to enter the world of entrepreneurship.
Challenges as an entrepreneur is a part of business which never ends. But women may face additional issues as a result of gender.
It's a male dominated world that we live and this can be a block to their way towards success, Finance institutions are not self-confident about the entrepreneurial features and functions of women, Men could find it risky to invest in ventures run by women, Insufficient family support and their obligation can be very challenging, Women have low management skill as they need to depend upon intermediates to complete their job, controlling family and business alongside one another provides up lot of issues in to family life, lack of equal opportunities in specific industries etc are a few of the challenges that can be encountered by women entrepreneurs.
It's a male dominated society that people live and this can be a block to their way towards success and Men may find it risky to purchase ventures run by women.
I would handle this situation wisely and would make sure they are recognize that I am by no means inferior compared to men.
Women have low management skill as they have to depend upon intermediates to complete their process.
I would learn and assess different factors in business, learn to select proper quality materials at cheaper price & negotiate with the suppliers in order that they cannot cheat me. I would prefer to do things by my very own also to get proper things done by my personnel rather than depending on intermediates
managing family and business jointly will bring up whole lot of issues directly into family life
This is one of the most difficult challenges a women can face. Family should treat women as a supplementary income service provider and should support them. Women too can control family, kids and business well. I would give proper time for my children and children. This should be planned properly. Initially this is difficult but little by little this would workout.
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