Leading through Crisis & Emerging on Top through Change | Omar Imtiaz

What we are experiencing is an extraordinary moment in our lives. Undoubtedly, these unprecedented times which have changed the entire face of the world, have given us the opportunity of self-discovery above and beyond our nominal reflection time. As the great Sufi philosopher and poet Rumi once said “The universe is not outside of you. Look inside yourself; everything that you want you already are”.

In a little under two months, this extraordinary crisis has woefully taken the lives of over 325,000 men, women and children from across the world. I am sure you have heard the phrase ad nauseam. If there was an apt time for use, now would be the most appropriate. In recent weeks, it seems as though not a single soul missed their physics class in school, and all have become high calibre medical experts. Not to mention knowing the world impact in deeper detail than most can even comprehend. That being said, it does not require a genius to understand that every challenge brings an opportunity. Amidst the trials and tribulations we are presently facing across the world, eventually, a shiny silver lining will emerge.

This pandemic is speeding up trends in logistics, technology, globalisation, geopolitics and above all sustainability. The industries majorly affected by the crisis, have no choice but to innovate. Consumers are ever-changing their habits and demanding different products and services. How has this interpersonal relationship in a context of confinement changed supply and demand? I am convinced that new services and technologies are emerging which will allow, in particular, small and medium-sized companies to recover and continue to develop. We are already witnessing the implementation of prop-tech and fintech in businesses which may not have considered such advancements before.

The waterfall model, crisis exit strategies put forward by Federal Governments, are giving each of the countries hope. We have collectively succeeded in putting health first but the mobilisation is still in its infancy. The strategies are prudent ones: justified and judicious, but we will only truly come out of the crisis when there is a credible vaccine. It is important to stay vigilant for the foreseeable future.

Such is the impact, that even if a minuscule percentage of the population is infected, people remain at risk. A resurgence of the epidemic would prevent the economy from re-starting. As for the health authorities, tracking new cases will be essential to monitor how the virus evolves. Measures to support the economy can only be effective if the risk of resurgence is brought under control. The measures being taken by the authorities are key because they provide a lifeline to small and medium-sized companies that make up the fabric of the economy.

Each and every one of us, be it business leaders, bureaucrats, professionals, or the population at large, are global change agents. Some sit in positions and have the ability to impact markets and communities directly, where others do so by navigating the emotions of change and transition, others by commerce and financial modelling. Whichever it may be, your position of influence is the one which will catalyse a lasting change. As a leader, you set the example and emotional tone in both good times and, perhaps more importantly, in bad times. However, in times of great turmoil, leaders invariably find themselves in the midst of enormous psychological pressure.

As the economic and business impact of the COVID-19 outbreak mounts around the globe, leaders in all industries are moving urgently to protect and build their companies’ resilience. Immediate action is absolutely critical, but leaders must also embrace a new agenda: one aimed precisely at what comes next, for business and all of society as a whole, learning to accept and adapt to continuous adjustments positively.

So, one must ask themselves some questions and be careful not to manipulate answers. This requires being true to oneself. Firstly, how does one feel their own state of mind? Secondly, what is one’s current position and challenges in relation to change? Are you ready to embrace change and bring a new route to your destination - Or are you closed off from change and simply taking it day by day, responding reactively? Change is a process, a journey, a certain mentality to accept and implement change, mandatory, not a matter to be taken lightly - or to be implemented half-heartedly.

Finally, with this dynamic adjustment what is your current mental state and emotional state? How are you perceived by your peers, your friends, family, your employees or even your competition? Have you taken a moment for yourself? One may feel I don’t have time to answer questions, but truth be told, “You” time, “me” time, it is all essential.

Terry Mathews once said “Our shipment of mowers was lost at sea and while we waited, winter descended and covered our green lawns with snow. That taught me a key lesson he said, “The importance of timing! The shipping company lost the lawnmowers! By the time they showed up no one wanted them, as you can't cut grass when it's covered with snow.”

Yes our lawn mowers are not lost, but the demand for our products may have shifted, how do we keep our customers interested and engaged until the season changes again?

As CEO of a conglomerate holding and investment management company, I am regularly faced with these familiar questions, and constantly having to reflect on the answers and their impact. Applying and implementing the answers for a positive outcome of my businesses requires a solid judgement call. The above points form a stringent set of questions to evaluate any business opportunity, be it a purchase of real estate or financial investment in a company. Having originated, advised and managed private equity and real estate transactions in excess of $3.6 billion, one lesson I learnt very early on, was you cannot operate a business when you are covered in an exponential level of emotional overload.

Prior to leading Imtiaz Holding I had served as CEO for an Abu Dhabi sovereign affiliated investment firm, as well as advised on numerous boards and think tanks. Each business brings about its own challenge and complexities. One thing they all had in common was the requirement for a leadership role to adjust the sail when the direction of the wind was changing.

Having set up my first company in my late teens, I soon discovered challenges and obstacles in various forms: face age stereotypes, experience (or the lack thereof), discrimination, setbacks and seriousness. I wanted to do everything, and all that achieves is nothing. I needed to remain focussed, get a grip of myself and believe in my ability to overcome challenges. I knew once I did the above I will take the negative and turn it into something positive. After succeeding in creating one of Dubai’s first real estate companies in 2002, long before the magnanimous transformation we see today, I remember a friend saying “Omar you make a bad operations director, but you make one hell of a CEO”. I was not sure how to quite react to this at the time, and it led me to think, why did he say this? How am I being perceived to others and are others able to see something I am not? Is it because of my passion or emotional state? This comment, however, came back to change the game. In 2007 during the financial crash, I began hiring when others were firing, expanded as others were downsizing. I began the exploration of new territories for business operations and made our presence known. I felt this was the time to be proactive and remain hopeful. I came to understand what I truly enjoy, and what I am actually really good at, taking the best out of the worst, via the management aspect. I feel it was a sense of growth, stepping into the role as opposed to the role being dropped on to you. I simply wasn’t ready until that moment and my emotional state of mind was suddenly the most creative it had ever been.

As my career progressed I began to predominantly focus on Alternative investments - Private Equity & Real Estate, two asset classes I truly feel bring out the best in me, and allow me to exploit my core skills being problem-solving, special situations, providing leadership and strategic direction to increase revenue and attain the companies vision and financial goals. With these in hand, I have continued to use my position within the organisations I serve to implement change and achieve compelling outcomes. The journey it took to become a leader within my organisations required a lot of introspection, and eventually, change - emotionally, mentally, on an operational level, socially and strategically.

Somehow I was not particularly ready for each aspect, but one has to develop the ability to be in-tune with oneself, as well as having operational and situational awareness of your own thoughts and triggers which puts your logic and practicality in charge, rather than your emotions.

Since the COVID-19 outbreak, many are experiencing an exponential overload of thoughts, crises, and transitional challenges. This includes dealing with the gravity and responsibility of terminating or furloughing teams, to heightened levels of never before felt anxiety and fear. You may be dealing seemingly well with these increased stressors and new levels of uncertainty; however, it is important to note that people often place thoughts and feelings into different compartments of the human mind. Some may have different built-in triggers to change, and not all are equipped to deal with these same stressors effectively. If you are not present to what I like to call the “Two T’s”, your “thoughts” and your “triggers”, difficulties can emerge in many different forms across your life board. So how do you discover and be present to your “Two T’s”?

Firstly, you have to understand what they are: Thoughts are mental cognitions: opinions, ideas, and beliefs about yourself and the world around you that generate in your conscious mind. They include the perspectives you bring to any situation or experience that inform and colour your reality. Your thoughts impact what and how you feel, and they can trigger a variety of emotional reactions. Triggers are strong reactions or outbursts that generate from your subconscious mind by a stimulus that sets off a memory tape of associated thoughts and emotions of a past trauma you have yet to process. Once you are triggered, your reactions, behaviours, decisions, and communication style are all produced through distorted filters from that particular triggered state. By becoming an observer of your “Two T’s,” you can begin to gain awareness of what’s driving you and what it is that you are responding to.

Through awareness, you can begin to observe your thoughts as they come into being and choose not to get swept away by them. You can slow your thoughts down and disrupt that pattern of thinking simply by taking a few deep breaths. By doing so, you can then recognize them for what they are: temporary appearances in consciousness. In other words, take the time to become self-aware. This is one of the core components of emotional intelligence. Through self-awareness, you get to examine the effect, the trigger, and the outcome of your emotions that those thoughts were the catalyst of.

This is a powerful place as a leader. It is only when you overcome your own pitfalls of the “Two T’s” that you are then able to navigate real change from an empathetic, more effective existence.

To close, I once again give you the words of Rumi.

Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” ― Rumi

OMAR IMTIAZ – CEO IMTIAZ HOLDING