#30 Emerging Markets Leader's Talk -Episode&Guest #1-, Sleem Hasan, Founder and CEO of Privity FZ LLE(UAE)
Always try and see problems from other people's point of view
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Concept and Value of "Emerging Markets Leader's Talk" on the “Essence of Global Businesses” newsletter
We want to feature unique and valuable top business and social leaders from emerging markets contributing to not only their home community and nation, but also to global with good mission and vision, trying to deeply share about the essence of their walking steps, activities, challenge, achievements, vision, and personal stories to our subscribers(pure learners) worldwide.
So that, our readers can grasp a lot of inspiration, hints, ideas, knowledge, and thoughts well from it to add more values to each of their lives on their emerging front sites.
Our prime 1st Guest is Mr.Sleem Hasan, Founder and CEO of Privity FZ LLE, UAE.
Let’s start with him !
1. About your individual career and activities in UAE and Global so far?
→I usually share my background using six different flags. The first flag is that of Fiji island because that’s where I was born. The second flag is from Pakistan because that’s where my late parents hail from. The third flag is from Nigeria in West Africa because that’s where I grew up. The fourth flag is the United Kingdom because that’s where I went to study at university(Oxford & Cambridge). The fifth flag is Japan because I spent 37 years of my life dealing with the Japanese markets, first at Nikko Europe plc(now part of SMBC Nikko) and then with Hasan Financial Corporation Ltd(FCA UK regulated firm), my first startup. The last but not the least flag is the United Arab Emirates, which is where I reside in Dubai and started my second venture, Privity FZ LLE. That’s zero to date with six flags.
2. About your Company/Organization
→Privity FZ LLE (Privity) was founded in 2004 in Dubai, UAE, and today has backed 18 entrepreneurs in the last 16 years from all over the world. We are agnostic to geography as we are to industry vertical, we care and focus on the quality of the entrepreneur and the underlying compelling value proposition of the entrepreneurial idea. With Privity as a strategic partner, we aim to transform entrepreneurial dreams into reality.
3. About your business and services at the organization/company?
→Privity has two customers, like any VC, entrepreneurs and LPs(the investors). But unlike most VCs, Privity is a fundless sponsor and works with brilliant entrepreneurs and it's network of investors to bring the entrepreneurial ideas to life. The fact that we don't have a fund and therefore no management fee nor carry, has over the long term turned into a competitive advantage as entrepreneurs realise that there is 100% alignment between us.
4. The market and industry landscape in your marketing nation including their emerging markets?
→The MENA(Middle East & North African) region has transformed over the last 20 years from what I describe as the shift from "labour camps" to "knowledge camps". Back in 2004 the MENA region was in "build-mode" with most nations focusing on real-estate and construction activities and the "labour camps" were the building blocks(comprising mainly of blue-collar workers) which built the infrastructure ecosystems. From about 2016, I observed the shift to "knowledge camps" which were the building blocks comprising of accelerators, incubators, entrepreneurs & VCs, for the growth in the knowledge economy. This trend is observable in other emerging markets too.
5. Point of the Business risks and difficulties(hard points)?
→Privity looks at "Business risks and difficulties" as opportunities for talented entrepreneurs to create solutions. These challenges could be issues the Public Sector or Government bodies are facing or Private Sector participants trying to stay relevant within the ever-changing business landscape owing to technological advancements.
6. The reason and background to start the business and seek for the values growth and expansion?
→In a world where job security is no longer a given and companies can very easily lay employees off during business down-cycles, I decided to venture out on my own in 1996 with my first start-up, Hasan Financial Corporation Limited. My logic and reasoning was simple, I would only have myself to blame if things did not work out and the only person who could terminate my services would be myself. I have not looked back one day in the last 28 years in my entrepreneurial journey.
7. The mission and vision?
→As a student of mathematics one is trained to solve problems, which is precisely what any entrepreneur worth his or her own salt does. My mission and vision still remains "problem solving" as a mathematical entrepreneur!
8. Your individual plans in next 3 years, 5 years, 10 years in/with UAE and Global?
→Privity is agnostic to geography and industry vertical. I firmly believe I have found a job for life which I am passionate about. My individual plans are irrelevant as I get up each day and look forward to what I have built over the last 20 years and keep learning each and every day. I know what I will be doing till my last breath.
9. Challenges, difficulties, concerns, and matters you have been facing with for the plans achivement? The ways to solve and overcome such?
→Persistence, perserverance and passion are the 3P's which help me overcome any and all curved balls that get thrown my way along my entrepreneurial journey.
10. Type of business partners you are seriously looking for now?
→Whilst I am not seeking business partners per se, the partnerships that Privity has forged with various business entitities have stemmed out of requirements from the entrepreneurs that I serve. These are usually financial and strategic partners.
11. Tips from your uniquely challenging career and life journey?
→I shall answer all 3 parts to Q.11 as follows: I have been blessed to have been exposed to different world cultures from a very young age, viz Asian, African, European etc, so the challenges that arise from cross-cultural difference are today alien to my constitution. You could literally put me anywhere on the world map and I would be fine. As long as I can keep solving problems daily that would take care of planning, strategizing and looking to the future!
12. Essence of success of your global business and career
→Ability to listen and act with alacrity.
Always try and see problems from other people's point of view.
Believe in one's hard work and ability to lead to success regardless of what other's might think.
Most important is to find your PASSION in life. Everything else does not matter.
13. Any message and advice to corporates(or individuals) who are willing to collaborate with companies in emerging markets and global? Any message and advise to corporates who are willing to collaborate with Japanese companies?
→My message is the same to BOTH and I call it the "Sandstorm effect", there is only 1 way to get hit by a sandstorm, you have to stand inside it. So, if you want to collaborate with companies in emerging markets, please spend time in those markets and learn. The same is true with Japan, you must visit Japan and spend time understanding this wonderful nation that I spent 37 years of my life immersed in.
Owner’s View
Our friend and business partner, Sleem san is truly global mover not only in physical perspective but his inner heart and mentality part also which latter is much more important to be successful and trusted in global business fields.
Just like he said, he has been always tried to be exposing to different world cultures from a very young age, viz Asian, African, European etc, so the challenges that arise from cross-cultural difference are today alien to his constitution.
No matter age, gender, religion, school college and corporate background, nationality etc, but he could literally put him anywhere on the world map and he would be fine with any of great professionals.
I am pretty sure that he can keep solving problems daily that would take care of planning and strategizing of wonderful entrepreneurs worldwide, looking to the positive future in the world.
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A very informative interview with one of the global business experts. What caught my eye is the 3Ps (Persistence, Perseverance and Passion). If we apply this in everything that we do, success is guaranteed. Thank you my friend,Hirosan.
By the way did you visit Dubai recently and you forgot to alert me?