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INNOVATOR million in project value,” says Al Jaidah, adding, “But, in spite of these difficulties, I have never looked back to work in the government. I believe whatever happens is for the best. When I look around now and see some of my friends who continued to work for the government earning high salaries and, culturally, they are held with greater social esteem than a businessman will ever be. But social esteem is less important to me compared with the freedom I have of not having to answer to anyone for my work, which, had I continued to work for the government, I would never have been able to enjoy. Even if someone is a minister, he will be answerable for his work, owe some explanations to his superiors, which I honestly don’t have to.” Al Jaidah’s family and his forefathers built their business reputation on honesty and integrity, and that’s a tradition that he is very particular about continuing. “I strongly believe in those qualities and think they are the founding pillars of any successful long-term business,” he states. “A businessman can easily oversell and overcharge, duping the customers who are depending on the expert– that is me, in this case. Just as I expect honesty and integrity from those who are selling to me, I have the duty to be honest and open about prices, and avoid over-billing to my clients. I have every duty to pass on credit and savings, where I can, to my customers. So, in business, the character traits of honesty and integrity come with a greater premium than being in a job. These business ethics also make me feel better within. I grew up hearing that my father Mohammed Jaidah was an honest and ethical businessman. I inherited this legacy from him and I want to pass on the same
“Trusting people was one of the biggest challenges. I have learned not to take things at face value, always read between the lines and the fine print!” legacy to my children.” As for challenges and lessons learnt on his entrepreneurial journey, Al Jaidah says, “Trusting people was one of the biggest challenges. I have learned not to take things at face value, always read between the lines and the fine print! I make sure you put every single detail in writing, especially in agreements. The longer one takes in drafting agreements, the clearer the relationship will be in the long term.” Cutting back to the present, Al Jaidah has learned to delegate. “Sometimes when you have grown the business, you have no option but to
delegate,” he says. “Now, I also have some other businesses that I own with my brothers, such as the ones in the construction sector, and I just do not have the luxury of doing everything on my own. For me, trust now comes ahead of experience, and I have developed an eye with a better judgment of whether I can safely trust someone. This comes with experience.” As for advice to a budding entrepreneur, Al Jaidah feels that the most important advice is that he/she must know the type of business they are going pursue inside and out, so that they do not need to depend on someone who would run it for them. “At least not the core of the business,” he adds. “Second, when the time comes to take the plunge, do not be afraid to become full-time entrepreneur. Risk-taking is one of the most important traits of entrepreneurship. Always think big and never just look
at local market dynamics. Make sure that you can build something that can sustain any foreign competition.” He cites his own example by saying, “I always benchmarked the Techno Q product offerings with what was available in the international markets. I never execute a project in Qatar, with the standards available locally, but rather I always think that even if an American company comes here with a job, they will not be able to better my quality and execution standards, even though the costs could be more. Since the clients are paying a lot of money, they deserve the best-quality product.” Continuing with his tips, Al Jaidah mentions, “Make sure it’s a long-term business idea and not something to make a ‘quick buck.’ Customers will pick that up, and will be reluctant to do business with someone who would disappear soon.”
march 2017 Entrepreneur
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