When setting up a start-up in the Middle East, it can be difficult to know where to begin. The best way to ensure that your venture is successful is to learn from those who have been through the challenges and built themselves into multimillion dollar enterprises. Entrepreneur and founder of Habibi Coin, Com Mirza, shared his top lessons with Forbes Middle East.
Work with the right people
You should never underestimate the importance of working with the right people who can help you grow an idea into a successful business. Ensure you hire the right talent or get people on board who are as enthusiastic about your venture as you are.
When people believe in your idea as much as you do it creates a highly synergistic environment for progress. People take it upon themselves to promote and market the solution to their entire audiences around the world.
Be prepared for challenges
Nothing of great value comes into the world with ease, it takes tremendous patience and hard work. The more prepared you are to meet those opportunities the faster you succeed.
There are many challenges in building a startup that are focused around catering for specific niche sectors. With strong preparation and relentless determination to overcome every obstacle, you will keep making progress.
Narrow down your target market
It is imperative that you study the market to be able to develop a product that caters for the needs of your target client base—especially in the Middle East, which is so diverse.
When you are focusing on a select target market you need to ensure that you narrow down who you think your product is suitable for. Once you can tailor your product to meet their needs, you can provide a real solution to the problems faced and real value to the end user. The more value you provide, the greater the growth scale and user adoption.