Company Profile:
Our family business laid down its roots in the 1930’s by my late Grandfather. It began as a catering business and continued to take on a pioneering role in innovation and creation. I am always proud to say that my Father was the first to introduce the concept of a hot meal on Royal Jordanian as our company was the caterer to the Airline at the time.
Our business grew from catering to real estate development, infrastructure building, hotels, aviation, telecom, soft drink bottling, automotive, luxury retail, banking, manufacturing and IT. Serving as the private assistant to the late King Fahd of Saudi Arabia, this gave my Father the opportunity to be exposed to business opportunities on not only a regional basis but an international one as well. Many of our successes and failures were experienced in Europe and the U.S. This was critical in shaping our view of conducting business in various parts of the world where transcending barriers and evolving to local business cultures were key factors to success.
How did you start your business?
I graduated from college in 1996. I lived and worked in HSBC London where at the time my father requested that I return to the Kingdom to assist in establishing a trading business. We had always invested in companies as silent, passive investors never taking any operational or managerial roles and he felt that it was time to change.
I returned to Amman in 1997, did a short spell at the Arab Bank and then went about to establish a trading business. Our choice fell on automotive. It was a strange choice at the time as I had very little knowledge of the automotive world but we took on the challenge. The year was 1999 and the brand was Jaguar!
When you first started your business, were you expecting that it would become not only your full-time occupation, but also a growing company?
Yes I did. However, there was a time horizon as to how long it would take my full-time. I had a challenge to re-start a depleted brand in the market and I had a time limit as to when it should be on its feet and I move on to the next challenge. In Jaguar’s case that was 2 years.
My goal was to set up the company, install processes, best practice and corporate governance. Once these objectives were met I would hand over to a team that would assume responsibility. I then went on to establish businesses in hospitality, banking, watches & jewelry, real estate development, automotive, media communication, furniture manufacturing and aviation.
What is the most rewarding thing that you have accomplished and why do you cite it above all your other accomplishments?
Saving and reviving companies that have gone under. Knowing that one was instrumental in playing a critical part in saving not only individual jobs but families that depend on them is my greatest source of pride. That is my most rewarding accomplishment.
What were the biggest challenges you faced as an entrepreneur and how did you overcome them?
In my humble opinion, entrepreneurs are visionaries, calculating risk takers, believers and very passionate about what they do. The one thing that lacks in entrepreneurs is the ability to maneuver through an environment that inherently links business and politics alike. This has been a challenge for me as an entrepreneur. However, my greatest mentor; my father, has always guided me and handed to me an invaluable experience in being able to steer through political waters to achieve the business objectives.
What do you think it takes to be successful in the industry your company competes in?
We actively operate in 7 countries around the world. We compete in almost every sector and it is sometimes a daunting undertaking. Institutionalizing the group, enforcing transparency, best practice, accountability and corporate governance is citing the obvious.
I also believe that integrity in business ethics will carry you in the long run. It will be a major contributing factor to success and accomplishment. We pride ourselves with that. Although it would seem as applying these ethics might result in lost opportunities, it will pay off in the long run. I’m in it for the long haul. I’m in it to build my own legacy. No matter how big or small, it is my own!
What advise would you give to those contemplating starting their own business?
Don’t over leverage!!! Debt is a killer. Having a portion of debt in your ratios is healthy but do not build a business model purely based on that.
Have some faith! There is nothing more rewarding than starting a business you are madly passionate about.
Be patient. You will fall, you will get up. You will fall again but then you will rise.
Don’t be afraid to delegate. Handing power is a difficult thing to do but always remember you are the owner which means YOU have the power to say NO!
Last but not least have fun! Life is way too short. Success is not measured by how much you make but really by how happy you are. Have the power to say I had enough. Greed will kill you.
What is the question I did not ask, but should have?
What are the wise words you live by?
God grant me the serenity to accept the things I cannot change.
The courage to change the things I can and the wisdom to know the difference.
No comments:
Post a Comment