Why Developing Your Own Family Business is the New Entrepreneurship

This week marks my 20th year with the family business "Alsulaiman Group". I still recall my first job interview at IKEA Saudi Arabia, starting as an Interior Designer in Jeddah store, then progressing to an Interior Design Manager, Sales Manager, and eventually climbed the ranks in operations until I became IKEA Saudi Arabia & Bahrain's CEO. Today, proudly serving as Alsulaiman Group's CEO, where, thankfully, I have been able to expand the group from a single entity to seven distinct companies, each leading in its industry, resulting ranking among the top 100 Arab family businesses.

While there were simpler paths available—such as starting my own venture or following a course either parallel or divergent to the family business—I opted for a more demanding yet logical path. I began at the bottom, in a role aligned with my academic qualifications, and worked my way up, facing numerous challenges among the way. This has been the only route that would let me maximize impact across the board. Far from being in a comfort zone because of my family ties, the last two decades have been a rigorous, enlightening journey in learning, innovation, and leadership. The stakes are high; my decisions have ramifications not just professionally but also within the family, a responsibility that weighs heavy being part of a rich and enduring legacy.

Among the most formidable challenges in this a similar pathway are trust issues and perceptions—whether with colleagues, within the family, or in the broader community. Stereotypes based on family background and identity can create invisible barriers. To colleagues, you're the "privileged family member;" to your family, you're the "inexperienced youngster;" and to the community, you're perceived as “born into predefined roles and paths”.

Two decades have given me invaluable lessons, and there are key insights I wish to impart:

• Continuous Learning

Nothing comes easy; you have to work hard to earn it. Education and knowledge are indispensable assets; they're not just handed to you. In order to shift from an interior design role to a business capacity, I had to complete an MBA. A personal commitment to never stop learning has been set. Subsequently, I earned a Master's in Change, which resonated with Saudi Arabia's Vision 2030. This lifelong learning journey has profoundly reshaped my approach to leading organizations, managing people, and most importantly, myself.

• Trust

Earning trust in your workplace takes a significant amount of time and patience, especially if you are working in a family-owned business where the scrutiny is elevated. To dissolve barriers and connect authentically with colleagues, humility is essential to reach their hearts. Equally important is having ambitious yet clear objectives, as well as the determination to prove yourself among all. Self-discipline and respect for organizational hierarchy are critical; never exceed the bounds of your role for any reason. Never allow yourself to wear the 'family hat' at any time.

• Surround Yourself With Leaders

"You're the average of the five people you spend the most time with." So select your inner circle wisely, populating it not only with skilled leaders but leaders with values who can challenge you and contribute to both your personal and professional growth. Don't be swayed solely by impressive resumes. A genuine leader embodies character and virtues like ambition, a growth mindset, humility, transparency, and a passion for their work. Such an individual can truly elevate the company culture and drive business success.

Select your inner circle wisely, populating it not only with skilled leaders but leaders with values

• Agility and Positive Mindset

Life is a rollercoaster, with change being the only constant. As a leader, you'll encounter hurdles, moments of overwhelm, and periods of anxiety and frustration. However, maintaining a hopeful outlook is vital to fuel a positive mindset, convinced that tough times will yield beneficial results.

Maintaining a hopeful outlook is vital to fuel a positive mindset, convinced that tough times will yield beneficial results

This optimistic perspective enables you to be agile, confront challenges with composure, and impart that same calm to others. Adaptability is key; learn to steer through ambiguous situations, as not everything unfolds according to plan. While meticulous planning is important, acknowledging that external factors can disrupt those plans is an essential leadership trait. This calls for flexibility—embracing it and responding positively.

• Self-fulfillment

In your role as a leader, you embark on an evolving path of personal and professional development. Each phase comes with its unique challenges and specific goals. Your sense of success and personal satisfaction will shift as you move forward, and so will your responsibilities. Stay attuned to each phase. Initially, you'll be focused on your immediate goals that bring you personal and professional stability. As you progress in your leadership journey, you'll accumulate experiences and attain various accomplishments. Eventually, you'll reach the stage where "giving back" becomes key—sharing your acquired wisdom and expertise to help nurture the growth of those around you. You will with no doubt discover that this will provide you the highest level of self fulfilment.

You'll reach the stage where "giving back" becomes key—sharing your acquired wisdom and expertise to help nurture the growth of those around you

Throughout this transformative journey, numerous colleagues being a manager or subordinate at different phases, their invaluable contributions have defined not only who I am today but also our current achievements, which include a conglomerate of seven unique companies to form a group ranking among the top 100 Arab family businesses, and a vision for further Growth?and?prosperity. To everyone who has been or remains a part of this collective endeavor, I extend my heartfelt thanks, profound respect, and enduring affection.

Twenty years have gone by, yet the path ahead is yet fully unfolding and looks more promising than ever. I'm fortunate to be surrounded by an amazing team dedicated to growing our businesses, capitalizing on opportunities, and consistently pushing the boundaries of innovation. Such a team is fated to help us reach towards even higher achievements and expanded horizons.