The UAE Rewards A Different Kind Of Entrepreneur
I have seen this trend in a number of entrepreneurs who are starting in the UAE. They believe success in the UAE comes down to having the perfect product, the biggest budget or the strongest network. While all of these things would help, I have found businesses that gain momentum which share a completely different characteristic: The ability to learn faster than anyone else.
I closely monitored two entrepreneurs launching the same service in Dubai.
The first spent six months refining every detail. He wanted to make sure the website is polished, the branding is perfect and the proposal deck revised more times than he himself can remember. He wanted to hit the market with all guns blazing when he was ready. He wanted to be certain before he took his offer to the market.
Meanwhile, the second entrepreneur launched much earlier. His website, branding and offers are good, but they aren’t curated to be the best out there. He spent his time testing his product completely overriding one step. The need to feel ready.
He attended events, spoke to potential customers, took meetings, collected feedback, adjusted his pricing accordingly and changed his positioning. He improved his offer based on what the market was telling them.
Six months later, both entrepreneurs have solved similar problems. The difference lies in the approach. One discovered answers through real-market experience while the other discovered it through planning.
A few months in, the UAE rewards the second entrepreneur. Let me tell you why.
Many entrepreneurs entering the UAE market misunderstand where its real advantage comes from. Most people think it’s the infrastructure, tax environment, strategic location or the access to international talent. Those advantages are real, but they are available for anyone.
The true advantage then lies in your ability. The ability to move your business faster.
In very few places can a founder meet a potential client, investor, supplier and strategic supplier within the same week. In very few places can opportunities move from conversation to execution at the pace they do here.
That speed changes the rules of the game.
When opportunities move quickly, the entrepreneurs who win are not the ones with the most experience or resources. They are the ones who can adapt and cater to a business need way before than anyone else can.
The lesson is not to abandon strategy. The lesson is to be both strategic and fast because you can’t spend too much time waiting for certainty on a fast green wicket.
The biggest advantage in the UAE is that momentum is something you build. The one who arrives late to the party will know how much they will have to improve. The UAE won’t reward the richest, smartest entrepreneur. It rewards a different kind of entrepreneur, the fastest learner.
So the next time you see someone prepping for their big break in the UAE, guide them to take action because the UAE is not a slow pitch to bat on.
