Business Lessons For A Successful Venture In Uae
                     SEVEN BUSINESS LESSONS
FROM AN ENTREPRENEURIAL JOURNEY IN 
UAE
Diversify your income stream
● Maintain multiple streams of income
● Avoid excessive dependence on any single revenue source
● Stabilizing your financial positions is the key to sustenance and growth.
● Diversification of your revenue streams is a good way to achieve this. 
Decide your business activity beforehand
● There are certain limitations in doing business in the UAE.
● Various approvals are required before you start your business. 
● Get the right information to know whether your business fits in. 
● A business consultant can help you decide or assist you with possibilities 
and limitations available in UAE. 
Identify the right jurisdiction
● Business jurisdictions in UAE are segregated by Emirates.  
● Opting for the right jurisdiction depends on the nature of the business 
you would like to conduct.
● Dubai offers mainland business setups, free zone company formations 
and more
Questions before you start
● It is not sure that the product or services you are going to offer will be 
accepted by customers. 
● Hence the most important questions to ask are:
○ How large is your potential market?
○ Who are your competitors?
○ What part of their business model can you improve upon?
Opportunities are key to success 
● Find success from opportunities where you have a special advantage. 
● Find some a high-value problem. 
● Build an MVP (minimum viable product) – the cheaper the better.
●  Most importantly, remeber you need customers.
Managing your money
● The Association of Chartered Certified Accountants found in their study 
that 82% of startups fail as a result of poor cash flow management. 
● Have a financial model and structure. Best to get get professional help
● Get a clear picture about your expenses and income probabilities.
● Have a Plan B in place for the worst case scenario
Adapt to change
● Lean, Flexible and Adaptable are the pillars of startups
● If your business does not adapt, you will fall behind. 
● Keep in touch with the latest technological developments 
● Keep a check on the country’s stand on various aspects of your business 
and its impact on your business category and specifically your type of 
businesses.
Explore : Lessons to learn as an entrepreneur in UAE
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