You’re not alone.
This is the question that many budding businessmen ask themselves and others.
While Dubai is regarded as one of the best places to set up a business, thanks to its business-friendly environment, strategic location, and minimum taxation policy, the competition here is cut throat.
Research shows that almost 9 out of 10 startup fold within first or two years. This in and of itself is a testament of how challenging it is to become a successful businessman.
But there’s great news too...
Every year many successful businesses are launched here. And this year could belong to you.
One way to ensure your success in Dubai is by following the formula of successful entrepreneurs.
Here are some key lessons you can learn from successful entrepreneurs in Dubai:
- Money is great—but it’s not everything
Find it hard to believe?
The most important thing is to chase your dream, to do what you believe in. If you do that, and do it with all your heart, success will follow you.
On the other hand, if you chase some fast money making opportunities, in the short run you might make some money, but in the long run you are likely to end up frustrated.
Because your engagement with what you’re doing will not be 100 percent.
If you want to become a successful businessman in Dubai, ask yourself these two questions almost every day:
- Am I doing what I believe is the most important thing for me?
- Am I passionate about what I’m doing?
- Don’t mind the haters
There’ll be many people who’ll tell you that your business idea has no future or you’re not ready to start your own business. Don’t let these haters deter you from chasing your dream.
In such a competitive business market, you must have a very thick skin to find true success. To get the kind of results you want, you must persevere despite of all criticisms thrown at you.
- Always continue moving ahead
Do you want to become a one-product wonder? Or do you want to leave behind a lasting legacy?
If the latter is your goal, you must remain at the top of your game always. Even after you’ve become successful, don’t delay chasing new opportunities even a wee bit.
Your focus should be always on exploring new ways to make more impact and take your brand further and further.
- Mindset makes all the difference
Of course a great business idea helps, but it is not the main thing that leads to you success. The chief proponent is your mindest, your never say die attitude, your ability to focus solely on your goal in spite of all challenges, and your unwavering belief in your abilities and the potential of your business idea.
Want to know more about how to set up a successful business in Dubai?
Get in touch with our experts. They can help you with everything you need, from creating a sound business plan to developing a great pitch to woo investors, helping with capital raising to providing entrepreneur coaching.