Entrepreneur Diaa Wassef: Risk is a reality and confronting it with alternative plans is the path to success

“Dubai is a land of promising opportunities and rewarding investment.” With these short words, the young entrepreneur Diaa Wassef began his dialogue with “Vision”, where he confirmed that the decision to establish his company in Dubai came after a careful study of all aspects of establishing a project to to provide facilities management services, which he started thinking about in 2020, and saw the light of day at the beginning of next year, when most of the world was still afraid to take any action in the face of the Corona pandemic that hit has all parts of the world.

He said he had preceded the founding of the company by three months, which he spent searching and inquiring and inquiring about various details and the most accurate information such as costs, fees, capital, prices, labor and marketing , as the fear of failure had a positive impact on his idea.

He advised young people who are striving to enter entrepreneurship, that is, to realize the presence of the expected risk factor, and if it is mentioned, it should be accompanied by an explanation of the solutions used to mitigate it. , and alternative plans if achieved, indicating that the owner of the project should not work in a separate world, but should learn from the successful and failed experiences of others.In both cases, that project has yielded experience that will benefit him when advice is sought.

Effect of the idea in a project

Wassef said in detail that the UAE has strengthened its position as a global capital for foreign direct investment through a package of measures and incentives that attract investment, even in the most difficult years for the world economy, and stresses that most young people the UAE to to invest due to the stability of legislation, and the high financial return, in addition to the facilities granted by the government.

The young entrepreneur added that the decision to set up an institution or company in Dubai did not come from nowhere, but came after a careful study of all aspects of the project, especially since Dubai is known as the emirate of opportunities and investment, so he decided to open his company in 2020, but the events of the Corona pandemic and the complete closure came, which hit the world, leaving him the steps of founding the company postponed.

Wassef said that at the end of the year 2020 and the beginning of 2021, he found the ability of the UAE to control this pandemic, encourage businesses and investors to run their business and provide everything they need to business in the Emirates, which made He takes the first steps in founding the “Diaa Al Shams Services” company Facilities Management.

And he added: “At the beginning of my thoughts on establishing the project, I started to gain experience in managing such a field by those with experience in this project for a period of up to 3 months , in various questions and queries. that I could gather all the information I missed, and know all the elements of the project. ”

He added that he then began to study the market and companies working in the same field, what services they provide, prices, how to market their business, and the number of workers within each company so that he can understand the nature of the market. understand. in which he will be competitive.

The role of social media

Wassef went on to do a feasibility study for all the details of the project, in terms of the start-up of the project capital, which was rather small, as he did not choose to obtain financing or bank loans at the beginning of the project , emphasizing that it is possible to think about this financing if the project succeeds and needs to expand its business. In this case, he could think about obtaining bank financing, and then started doing a study on how to market his project and reach a large number of customers, and the best thing was to use social media platforms and paid advertising on Facebook or YouTube, as this is one of the easiest ways to attract customers and the largest segment in a short time to reach.

Diaa explained that one of the main problems he faced at the beginning of the founding of the company was “fear of failure” as fear is a positive and not a negative thing; For fear will be a motive to achieve success, and a motive to focus as well; So that “you can succeed, and prove the success of your ideas,” adding that despite the fear of failure, he put an alternative plan in his calculations in case his first plan in the company failed; Because he is convinced that failure is not the end, but that failure may be the beginning of success.

hardship

The young entrepreneur indicated that what affects the young man the most at the beginning of his life is the state of frustration and despair that will affect him once he fails, and he will find many stocks aimed at him, even if it in good faith, whether from his friends or from his family members who are afraid of investment. , and their conversation may affect that he failed and can not run a project, and he should look for a better job than running a project and wasting a lot of money, and explains that the young man here has his passion for creating a private project lost, and can actually seek refuge in work, and here the community loses a pioneer of entrepreneurs in the future.

Wassef sent a message to families and friends asking them, in the event of the failure of a loved one’s project, that they should support him rather than be the cause of his frustration and destruction of his dream.

He pointed out that the owner of the capital is always looking for a safe investment that achieves high profits without great risk, and without obstacles such as the imposition of taxes and fees, and the multiplicity of referrals and bureaucracy that achieve achievements delayed, especially since the capital is always looking for an investment that achieves a high return, but with cost. Less risks and less risks too. In this regard, the UAE has held advanced positions in global indicators in the areas of human happiness, economic development, income level, investor services, speed of performance and other areas, and this is what any investor, whether a young entrepreneur, or ‘ a businessman, encourages to open His project is in the Emirates with full confidence, and it is not available in any other country. as the UAE.

Essential for the success of any project

Wassef said that one of the basic principles of the success of any project is that its details are clear, and that the management of this project is aware of its aspects, while ensuring that it is on a sound and strong footing. and the responsibilities that fall on them, in addition to clarifying the main objectives of the project, explain that success does not mean that you place illogical fantasies for your project and you want them to be verified.

He added, “Your role as a leader and manager does not stop at defining tasks and ensuring their implementation by team members, but you need to be supportive and supportive of all project workers, creating a positive atmosphere that allows for more creativity. , communicates with them and inspires them, and as it is said, a correct step to The back is better than ten wrongs ahead, and the success of the project due to its failure can also be specifically related to the quality and timing of taken the step it requires. ” Protection and motivation for greater success.

Tips for Entrepreneurs

The young entrepreneur advised that the person should be aware that there should be a risk factor in any project as it gives the language of the business model higher credibility, and reflects the entrepreneur’s awareness of the nature of business growth Discussion of the expected risks , and if it is mentioned, it should be accompanied by an explanation of the solutions used to mitigate it.

He added that there are many tips and strategies that can be followed to achieve the success and growth of the project, but the most important thing is the entrepreneur’s awareness that he is not working in a separate world or alone on a remote island. not, and thus learning from others’ successful and failed experiences is a rich resource that must be realized in the business world.

Wassef concluded his speech that he can take the project owner to hire a mentor with relevant experience in his field of work to guide him, or to seek advice when needed, thus helping to develop his skills, to the success of securing its project and accelerating its growth instead of solving problems or thinking individual project development lines.

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