Kuwaiti Entrepreneur Abbas Al-Hazeem’s Success in Dubai
At just 25 years old, Abbas Al-Hazeem has transformed his early financial lessons into a successful media agency in Dubai. His journey highlights the importance of discipline, vision, and a strategic mindset in achieving entrepreneurial success in the UAE.
Early Lessons in Financial Discipline
Growing up in Dubai, Abbas developed an entrepreneurial mindset at a young age. While his peers spent their pocket money on snacks, he chose to save. “I’d bring my lunch from home and use my money to buy small items to resell at school,” he recalls. This early experience taught him the value of saving and reinvesting, which would later shape his business approach.
Identifying Market Opportunities
After gaining experience in technical services and operations in both Dubai and Kuwait, Abbas recognized a gap in the market for storytelling-based marketing. He saw the potential for creativity to connect brands with their audiences effectively. In April 2024, he launched On The Way Media Agency, investing Dh 128,555 ($35,000) of his own savings to cover branding, licenses, and setup costs. “I invested more in people than machines,” he explains, emphasizing the importance of skilled talent over hardware.
Strategic Growth and Financial Management
Abbas’s strategy paid off quickly, as his company achieved a 60 percent profit margin within months. He focused on lean operations and reinvested profits into expanding services, including AI-driven content and music production. “Scaling smart matters more than scaling fast,” he notes, highlighting his commitment to sustainable growth.
Before founding his agency, Abbas worked at his family’s business, Intercoil International, and gained experience in distribution and logistics. This background taught him the importance of structure and adaptability, which are crucial in Dubai’s competitive environment. “Dubai keeps you sharp,” he says, recognizing the city’s potential for innovation and strategy.
Financial Discipline and Investment Strategy
Abbas approaches savings as a monthly obligation. “I automatically set aside a portion of my income,” he shares. He began with small savings and gradually diversified into assets and funds to mitigate risk. “Owning ten percent in ten businesses is better than a hundred percent in one,” he believes, reflecting his strategic investment philosophy.
His portfolio now includes real estate, long-term funds, and emerging AI startups. He also maintains an emergency fund to cover six to twelve months of expenses, ensuring his company can weather client payment delays. “Cash flow is survival,” he emphasizes, underscoring the importance of timely payments to his team.
Learning from Challenges
Abbas’s financial discipline stems from hard-earned lessons. In a previous venture, he overstocked inventory, which nearly drained his cash reserves. “That nearly ended the business,” he admits. Now, he prioritizes balance—merging creativity with control and ambition with budgeting.
He is cautious about expansion, having landed significant deals early on but resisting the urge to over-hire. “Every expense has to clearly improve productivity or revenue,” he states, a principle that has contributed to his company’s stability.
Balancing Work and Life
Despite the demands of entrepreneurship, Abbas values work-life balance. “I was shy at first,” he reflects, but running his own company has boosted his confidence. He makes time for reading, gym sessions, padel, and family weekends, all of which help him stay grounded.
The initial months of his business were challenging, marked by long hours, no salary, and constant reinvestment. “I doubted myself often,” he admits, but his resilience kept him moving forward. “True resilience means pushing through uncertainty,” he adds.
Key Takeaways for Aspiring Entrepreneurs
Abbas offers several insights for those looking to succeed in entrepreneurship:
1. **Always have a backup plan.** Prepare for the unexpected while hoping for the best. 2. **Maintain strong liquidity.** Daily cash flow is more critical than paper profits. 3. **Invest in people.** A skilled team yields long-term returns. 4. **Grow intelligently.** Expansion without a solid structure can jeopardize a business.
“Entrepreneurship is unpredictable,” Abbas concludes. “But with discipline, transparency, and adaptability, the UAE provides all the tools needed for success.”
FAQs
What inspired Abbas Al-Hazeem to start his own business?
Abbas was inspired by his early experiences in saving and reinvesting money, which shaped his entrepreneurial mindset from a young age.
How did Abbas manage to achieve a 60 percent profit margin so quickly?
He focused on lean operations, strategic spending, and reinvesting profits into expanding services, which contributed to his rapid profitability.
What advice does Abbas have for aspiring entrepreneurs?
He emphasizes the importance of having a backup plan, maintaining liquidity, investing in skilled teams, and growing intelligently to ensure long-term success.
Conclusion
Abbas Al-Hazeem’s journey from a young saver to a successful entrepreneur illustrates the power of financial discipline and strategic thinking. His experiences offer valuable lessons for aspiring business owners in the UAE and beyond, emphasizing the importance of adaptability and resilience in the face of challenges. As he continues to grow his media agency, Abbas remains committed to balancing creativity with sound financial management.
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