A lot of people in the U.A.E. love to talk about entrepreneurship and innovation. Very few have actually done it. Of the few who have done it, fewer still are in a position to speak about it with authority.
Some “entrepreneurs” are just in the right place at the right time.
Nassim Taleb talks about “Skin in the Game.” That’s how you figure out who’s “Legit” (legitimate) and who’s a fraud.
Naaz Noor is LEGIT. U.A.E. born-and-raised. Lawyer by training. Private-banker for 10 years before starting her own business, a legal consultancy. From there, Aseel Consultancy grew into F&B consulting, a co-working space, business incorporation, startup incubation, business services, and more.
Time-Stamped Show Notes
- [02:55] Naaz’s #1 piece of advice that aspiring entrepreneurs will not want to hear.
- [04:04] Why modeling businesses that get acquired is not the right strategy for local startups
- [07:45] The major mindset failure holding back entrepreneurship in the U.A.E.
- [13:05] How the first version of Ubrik “went out of business” in 2009.
- [14:15] The key factor that is forcing local entrepreneurs to make bad strategic decisions, and Naaz’s recommendation for how to fix that
- [20:18] The best way to encourage real, long-term, productive innovation in the U.A.E.
- [23:30] The right way to get funding for your startup.
- [26:00] Naaz’s “DO NOT DO” list for entrepreneurs.
- [26:30] In the U.A.E., you’re guilty until proven innocent.
- [27:40] Why there’s no such thing as a “Limited Liability Company” in the U.A.E.
- [29:30] Why you need to look at the fine print with a magnifying glass when starting your company
- [31:05] Why the entrepreneurial success-stories in the U.A.E. happen despite the country’s legal and regulatory frameworks, not because of them. And why, if these obstacles are removed, innovation in the U.A.E. will happen at light-speed.
- [32:12] How to get your corporate structure right when starting your company
- [36:15] The real value Aseel Consultancy offers startups and entrepreneurs in the U.A.E.
- [39:20] Naaz’s advice for freelancers and consultants in the U.A.E. Gig Economy.
- [42:20] Incorporating in international jurisdictions like offshore companies.
- [45:30] How Aseel Consultancy is helping take the edge off the stressful lives of entrepreneurs.
Got Any Questions?
Got any questions about starting or growing a company in the U.A.E.? Leave a comment below and let us know. We’ll answer to the best of our ability.