From Pearls to Skyscrapers: The Journey is endless !!

Once upon a time, in a land far, far away—okay, it’s the UAE—there was no Burj Khalifa, no luxury resorts, and definitely no Ferrari World. In fact, what the UAE did have in abundance was… pearls!! Yes, you heard it right! It was indeed pearls, before the Japanese flooded the market with cultivated pearls and before oil came along and stole the show! UAE’s economy relied on the gritty business of pearl diving. Imagine a whole economy based on finding tiny, shiny things at the bottom of the sea. Sounds familiar? For those Tech whiz kids, Isn’t it like searching for hidden bugs in the codes??!

Now fast forward a few decades, and UAE has become the Las Vegas of the Middle East—minus the casinos, of course. We’re talking of a country known for its futuristic skyscrapers, bustling trade ports, tourism hotspots, and global business hub status. This is not just a tale of oil wealth. The UAE’s transformation is the result of some serious strategic thinking, and there’s plenty we can learn from it. You need a lot more than endless supply of oil or camel to do it.

Lesson 1: Spot opportunities and Diversify

If the UAE had stuck with its pearls and shrugged its shoulders when the price of pearls crashed; they would probably still be diving for mollusks. Imagine what would UAE have been and what we would have missed out on, the world at large; if they would not have been opportunistic with oil discovery and investments in ports. Instead, they spotted opportunities & diversified. They used oil wealth to build infrastructure, diversify into tourism, finance, trade, and even space exploration. That’s right—space. The UAE didn’t just aim for the stars; they actually sent a probe to Mars!

And spotting opportunities is being ahead of time! Spotting opportunities and building a future requires vision of the future and in that, am sure every business understands the clearly that complacency kills the future. It is indeed only the relentless effort to continue thinking ahead & building the future we visualise, that can take us places.

Lesson 2: Make the most of where you are?

The UAE’s strategic location at the crossroads of East and West making it a global transit hub. And I am not just talking about Emirates Airline providing luxury flights. The country became a major shipping port and logistics center, handling a massive flow of global trade. The lesson? Don’t underestimate the power of location.

It was interesting to note in the book “My Vision - Challenges in the race of excellence” by His Highness Mohammed bin Rashid Al Maktoum; he shares an anecdote when he asks his father about whether the Jebel Ali port that his father was planning way back in early 1970s was necessary, since the economy was in recession and an already large harbour at Port Rashid met their needs.? To this his father’s response was that he was building the port then since anytime later the port will not be affordable to do so! And 3 decades later, Jebel Ali records a trade value of over USD 130 billion !! Recognising the power of location and putting this to the best use was something I learnt and admired.

For businesses, the real question is: Where is our core presence? Are we visible where our clients are looking for us? Are we leveraging our online & offline platforms enough to expand globally? Are we amplifying our work on the digital location enough to be heard by our clients. Just like the UAE turned its physical location into a powerhouse, how are we leveraging our presence.

Lesson 3: Innovation Isn’t Optional

In the UAE, “business as usual” means making the impossible seem possible. From constructing palm-shaped islands, buildings in the shape of a yacht, museum of the future to hosting Expo 2020 and even launching a National AI Strategy, innovation is baked into the country’s DNA. They’ve mastered the art of reimagining the future—and so should we.

It is imperative for businesses to understand that consistency and continuity in innovation to solve customer pain points is the only way to success and impossibility is never a criteria coming in the way of achieving that!

Lesson 4: Build Relationships

The UAE also became a global business hub by fostering relationships—globally. They made it easy for international companies to set up shop in Dubai and Abu Dhabi, making it a magnet for global talent and investors. Thinking big, not just in execution but in networking too is critical to business success. So, the next time you’re thinking of building connections, don’t just stop at your local networking event staying within the comfort zone of samosas and sandwiches. Think big! Building global partnerships, working beyond the comfort zone and exposing oneself to uncharted territory and continuing to create an ecosystem where businesses want to collaborate; is essential!

Wrapping Up:

“Every morning in Africa, a gazelle wakes up; it knows it must run faster than the fastest lion or it will be killed.

Every morning in Africa, a lion wakes up; It knows it must outrun the slowest gazelle or it will starve to death.

It doesn’t matter whether you’re a lion or a gazelle when the sun comes up, you’d better be running.”