10 lessons from 10 years of UAE business

January 2022 marks the 10-year anniversary of the incorporation of my Dubai-based business, and of course, following all cliché protocol, I’ve been doing some reflecting ahead of next year's milestone and our growth into another GCC territory and maybe further afield too. I think it’s a general acceptance that running a business in the Middle East can bring its challenges, certainly as an ‘independent’ and non-native owner. I am of course very proud of the progress and impact my work has had since we launched, I continue to be committed as ever to the region. I wanted to share my very real lessons learned from starting, running, and growing my business for the past decade in the UAE.

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Lesson 1: Trust your gut instinct – always

Anytime I have been led astray instead of following my instinct, I’ve regretted it. You have to have a fierce conviction in business, and in the early days this feels harder, as you are less experienced, but as an owner you have to back yourself resolutely. Those expensive consultants you have a niggly feeling about for example? Don't get suckered in if you feel unaligned from the get-go. Trust your own knowledge and experience first, even if the former is lacking. You know what’s best for your business.

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Lesson 2: Every day really is a school day

You have to learn from everything, and there is always something to be learned. Perceived failure, perceived successes – what do either teach us? We get the results we wanted or the lessons we need from everything. We get the information to take away and either drill down on for next time, or learn what NOT to do going forward.

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Lesson 3: Team first

Yes, that’s right, I didn’t say clients. This lesson comes with time I feel. If we look after our people internally, and their best interests at heart, the rest always follows. It takes courage to ‘fire’ clients and may feel impossible in the early days or years, but if your team feels mistreated or working wildly out of scope – they are the ones to take care of above all. Policies, values, respect, rewards, and upskilling. Not only your staff, but your business and bottom line will thank you for it.

Lesson 4: Be better at self-promotion

Now I firmly believe that it’s better to be busy with actual business, rather than concentrating on your own marketing and self-publicity in the early days, but we didn’t even have our own website for two years! Yes, it was amazing to be busy, but we mustn't forget to support our own marketing and visibility along the way – keep a healthy balance, and it will help business along the way.

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?Lesson 5: The legal part

Have a company lawyer before you actually need one. If you don’t, you can guarantee that by the time you really do need one, it will feel ‘too late’ and you’ll be rushing to meet a deadline adding to further stress you can do without. It’s sensible to have a set of contracts ready to work from, power of attorney policy and more, right from the start or as soon as you possibly can.

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Lesson 6: The pain of HR

Your team may be your biggest asset, but honestly, people management will become the hardest part of running a growing business. Staff will absolutely come and go, some will be amazing and others much less so. Some will even behave appallingly, and it will get truly ugly. It’s all part of the business journey, but my lesson here is to stay very much true to self along with personal and company values. One bad experience from a hiring perspective should not cloud your judgement going forward, but of course, we all learn from such experiences too.

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Lesson 7: The power of niche

Sticking to your strengths and passions is vital for consistent business success. It’s not your job to be everything to everyone, however tempting those new opportunities may be. By niching down and showcasing your expertise, you ultimately become far more valuable to your ideal paying clients and will not stretch yourself too thinly.

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Lesson 8: The sacrifice

There is no two ways about it. The juggle is real, and the balance will often not be weighted in your favour. Holidays, weekends, and even relationships will suffer at some point in your entrepreneurial journey. You are living a life few will commit to, to ultimately gain a life that few will eventually have. You will gain and lose friends in business too, but the journey is very much worth it, even if you haven’t yet reached your ideal destination.

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Lesson 9: Tear up the plan

Strategy and goals are vital, of course, but know that things change within moments in business and we have to anticipate and appreciate the agility required rather than rigid attempts to resist change. Growth can hurt too.

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Lesson 10: The biggest are not always the best

In my industry, people always chase the flagship clients or hot names – and perfectly understandable that is too. It adds kudos and opens doors when pitching. In my experience however, we often have payment issues and a lack of profitability with ‘big’ clients. The ideal scenario for agencies is a blend of ‘names’ for credibility and cashflow but also smaller or independent brands and businesses and project work as a nice mix. You will find your ‘sweet spot’ and balance – but again, playing solely with the ‘big kids’ is not the best business model for a growing SME.

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Overall, it’s been an incredible journey, and one I am in no real hurry to end. In fact, the next level of growth and expansion feels exciting and at least we have this last decade's worth of lessons to have learned from and carry that knowledge over into the next. Here’s to 2022!

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Tash Hatherall, Founder and CEO of TishTash Marketing and Public Relations

www.tishtash.com

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