The most powerful word in business

I’ve been running businesses here in the UK and the USA for over 35 years and over this period, as you would imagine, one learns many things from the day to day activities and the interaction with one’s employees and clients.

We are all keen to provide rapid responses and solutions to our clients’ problems and issues but I have learned that to act in haste can cost you dearly. We all have those clients who call at the last minute and have a special requirement, saying this is a one-off occurrence etc. etc. Our first response is to take down all the relevant information, engage the efforts of our colleagues to help with the task in hand and often leave the financial element to the end only to find out the client does not have the appropriate budget or wants a special deal this one time as they will make it up to us on the next project.

I have lost count of the hundreds of times this has happened to me.

So many years ago, while suffering another of these Friday night “Oh my God I need it here yesterday” episodes, I took a step back and thought through what was actually happening.

I asked myself a series of questions…

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The Middle East is growing up

There was a time, a few years ago, when the get-rich-quick tales from Dubai were true.  You could go out there, have a Ferrari within a year, and get a penthouse and a boat the year after.

Those times are gone.

They are gone because all that was built on credit.  They are gone because Dubai, as part of the UAE, has grown-up.

They are even introducing VAT in 2018, but personal and corporate income will remain tax-free for the time being.

Because it’s matured, the opportunities are still there but they are more of a long-game than a quick win.

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