Entrepreneur Obaid Belresheed Shares Five Tips for Aspiring Entrepreneurs to Build Extensive Business Empires

This year, 2020, does not seem to be a good year to try your hand at setting up a business. While the whole world is locked away, trying to make sense of the new order, it will be tough to build or sustain your business. Therefore, it is essential to go back to the basics and take inspiration and advice from people in the industry who have seen struggles like these in their lifespans. Take Obaid Belresheed, the Emirati Businessman and founder of the Belresheed Group, who began his journey from scratch way back in 1993, and today is a multi-billionaire. Here, he talks about the five tips that might help aspiring entrepreneurs to build their business empires. 

Take the First Step

Most businesses fail to take off because, at the core, they remain just an idea. People lose their drive when they overthink. Belresheed said, “My company was started without much preplanning. All I knew was to make client-servicing my top priority. Everything else fell into place eventually.” Even if you feel like your product or idea is not fully ready to be seen in the market, launch it. Delaying it for the sake of perfection will eventually ruin it.

Keep Networking

If the history of humanity has anything to teach us, it’s that we cannot do anything alone. “We have long-lasting relationships with several brands around the world. This enables us to source the latest products and materials to run our company,” said Belresheed, adding that maintaining such relationships over a long period also builds trust.

Avoid Frivolous Spending

Budgets are clearly allocated at the start of a business for a very real reason. Unnecessary, and sometimes even necessary, expenses can ruin a business. Therefore, it is better to hold off while the company is starting out. 

Outsource Where Possible

Belresheed’s company was incorporated in 2004. Since then, it has become a symbol of innovation and distinction. From the start itself, Belresheed knew not to take on more than he could handle. “Providing correct solutions to our customers is more important. So, it is best not to manage everything. Outsourcing work to others so you can concentrate on what you know best is the only way to serve the customer fully,” said Belresheed.

Be Patient

No company earned its millions overnight. It is a slow and laborious process that takes every ounce of will at your disposal. Focus on setting levels of goals for yourself to achieve. That way, you have something to look forward to on your journey to the ultimate goal.

Belresheed’s business has achieved its goals over the past two decades due to his insistence on being thorough and complete about his tasks. He also relies on trust and innovation to get him through the day.