BBIC Interview with Mohammed Al Ghassani
We spoke to Mohammed Al Ghassani, Deputy CEO, PEIE (pictured right) about the TKM - Ernst & Young Big Business Idea Competition and this is what he had to say on the competition, what it means to be a successful entrepreneur, the downside of 25/8 and recognizing the next big thing
What triggered the idea for the Big Business Idea Competition?
We’re very much of the view that entrepreneurs feel, and probably are, left out in the cold. So it's partly a pat on the back for them but it's also establishing role models for young men and women who want to start a business and trying to help grow the entrepreneurial culture in Oman. We also want to get young business people into The Knowledge Mine, the business incubator program based at Knowledge Oasis Muscat (KOM).
What characteristics do you need to be a successful entrepreneur?
All the successful entrepreneurs I've met have had a vision of what they want their business to be. But it's not just about vision, it's being able to lead and inspire people with your vision. An entrepreneur has determination, works against the odds, shrugs off failure and just gets on with the job.
What path do you suggest for would-be entrepreneurs?
I think it's worth working for someone before you start your own business, unless you’ve a great idea that’s going to take the market by storm. If you work for somebody else you get to understand marketing, sales, accounts and customer care – all the important stuff – and you won’t lose you shirt in the process.
What’s the downside to being an entrepreneur?
Probably working 25/8. Most entrepreneurs I know are workaholics and that isn’t the easiest thing to be when you’re married with three kids. Balancing work and family life must be very challenging if you want to be a successful entrepreneur.
What do you think the dotcom has done for enterprise?
In simple terms, the Internet has created lots of activity that in turn has created a tremendous amount of wealth. The dotcom world has also introduced a lot of changes to business – the landscape has changed dramatically over the past 10 years or so.
Have you got a favourite entrepreneur?
One of the best and classic entrepreneurs has to be Charles Rolls, because he had the vision (and the cash helped) to produce an automobile that’s synonymous with high quality - something all manufacturers try to achieve - and the branding that goes with it.
How do you recognize the next big thing?
I suppose for a business to become a major success it needs to have a new model of some sort, a model that’s driven by new technology, science or the Internet. I’m not entirely sure if you can spot the next big thing, it just creeps up on you.
What's the most interesting part of your job?
The TKM – Ernst & Young Big Business Idea Competition has been a real high point for me recently. I feel we’re really contributing to the development of the country’s economy, that’s a good feeling to have. It’s great meeting so many ‘would-be’ entrepreneurs and networking with them.
