There is an exclusive club where some of the country's top entrepreneurs converge to discuss - in secret - the challenges of running a business while juggling family obligations.
Known as the Entrepreneurs' Organisation (EO), its members promise not to share anything discussed in monthly forums - not even to spouses during pillow talk. Members are also barred from providing advice or suggestions about how to deal with either business or family issues. In fact, they can only share personal anecdotes that might inspire solutions.
"Most of us entrepreneurs don't like to listen to anyone. We think we know everything," says Ashish Panjabi, the chief operating officer of Jacky's Group of Companies, which operates the electronics retailer. Mr Panjabi is also president of the EO's chapter in the UAE.
"We don't want an expert to come in and tell us how to do things and how to run our lives, our business and what strategies we should be following," adds Mr Panjabi. "Traditionally, we've been the boss so what we say goes."
That is why EO tries to take a unique approach, compared with the bevy of other business groups available to entrepreneurs, by creating forums where participants can talk freely about cash-flow problems, restructuring woes or preparing exit strategies before diving into new ventures. Discussions about family problems, whether focused on succession planning or maintaining a work-life balance, are often the most popular.
While EO boasts about 8,000 members globally, there are only about 50 in the UAE chapter. Local members have included Nilesh Ved, the chairman and founder of Apparel Group, as well as Fahmi Al Shawa, the managing director of Convenience Arabia, which operates Circle K shops across the Gulf. Peter Sage, a serial entrepreneur who launched a multibillion-dollar venture commercialising space-based solar power, has also been a member.
But not just anyone can join. Startup owners, for one, are out. People must run a medium-sized business, rather than a small one, that generates at least US$1 million (Dh3.6m) in annual revenue. There is also an interview to see if a new member is a good fit and hails from an industry not already represented.
Nathalie Haddad joined EO in Dubai three years ago to "swap ideas and get support on little issues you deal with as a business owner".
As the managing director of The Right Bite Nutrition Centre in Dubai, which employs about 100 workers and delivers healthy meals to individuals, Ms Haddad has encountered restructuring issues and staffing challenges in the past.
Participating in forums and various other educational events that the EO hosts has helped her learn about how others with businesses of a similar size have handled similar situations.
Yet Ms Haddad notes that she would like to see more female entrepreneurs in the group so she can learn about "how they're running their business".
Others say the age of certain members may make forum discussions less relevant to their particular stage of business.
"The EO used to be the YEO, where 'Y' stood for 'young'… and the definition became far broader," says Rabea Ataya, the chief executive and chairman of the regional job-searching site Bayt.com. "The definition of what the EO was became a bit less relevant to me," he adds.
After being a member of the EO for about a decade, Mr Ataya left and joined another group called the Young Presidents' Organisation, which he says is somewhat similar.
Still, he credits the EO with helping him start Bayt.com back when he was still managing another company called InfoFort. "That decision changed my life," he says. "There were lots of relevant stories [told in EO] that helped me to commit to my course of action."
Not only that, Mr Ataya has convinced his sister, who is also an entrepreneur, to join EO after she started an e-commerce site that sells products for children. "She embarked on this new venture, and with that comes a lot of challenges," says Mr Ataya.
"I thought she'd benefit from having a group to share her challenges with."
nparmar@thenational.ae
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Understand What Black Is
The Last Poets
(Studio Rockers)
UAE currency: the story behind the money in your pockets
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Race card:
6.30pm: Baniyas (PA) Group 2 Dh195,000 1,400m.
7.05pm: Maiden (TB) Dh165,000 1,400m.
7.40pm: Handicap (TB) Dh190,000 1,200m.
8.15pm: Maiden (TB) Dh165,000 1,200m.
8.50pm: Rated Conditions (TB) Dh240,000 1,600m.
9.20pm: Handicap (TB) Dh165,000 1,400m.
10pm: Handicap (TB) Dh175,000 2,000m.
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
The specs
Engine: 3.8-litre twin-turbo V8
Power: 611bhp
Torque: 620Nm
Transmission: seven-speed automatic
Price: upon application
On sale: now
Results
Stage seven
1. Tadej Pogacar (SLO) UAE Team Emirates, in 3:20:24
2. Adam Yates (GBR) Ineos Grenadiers, at 1s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 5s
General Classification
1. Tadej Pogacar (SLO) UAE Team Emirates, in 25:38:16
2. Adam Yates (GBR) Ineos Grenadiers, at 22s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 48s
Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla
Verdict: Three stars
