Entrepreneurship

Inspired by the Drug Trade! Seven Creative Capsules for Ensuring Your Business Success

Seven key elements to accelerate and guarantee your business success.

Published

2 years ago

November 5, 2024

Success in business is not just about what type of business you run, but how you manage it with creativity, intelligence, and authenticity to ensure growth. This success is shaped by certain elements that define not only how successful your business becomes but also how quickly it spreads.

These success elements apply even to drug dealers in their illegal trade. It begs the question: how can we mimic certain aspects of drug trafficking management and apply them to legitimate business to achieve success?

Did you know the drug industry is now valued at $2.5 trillion? Yes, that’s not a typo—it’s a multi-trillion-dollar industry!

I can guess what you’re thinking: “Drugs are illegal, what could I possibly learn from an illegal trade?” Right?

Well, just because it’s illegal doesn’t mean you can’t learn from it. The drug trade didn’t reach such staggering figures by accident; it got there through clever and strategic tactics that you can apply to your own business (which, of course, won’t be dealing in drugs!).

Here are seven key lessons you can learn from drug dealers to drive your business success:

1. Don’t Assume Your Product is Irreplaceable

Drug dealers don’t just fight for territory, they fight for product superiority. They know that success relies on the quality of what they’re selling. If you offer an excellent product, the hard work of selling it becomes significantly easier.

Similarly, never assume your product is irreplaceable. Instead, focus on creating the best product in the market, something people will get hooked on. If your product is poor, they’ll move on as soon as something better comes along. This is a fundamental rule for ensuring your business’s success.

2. Word-of-Mouth is the Best Marketing

Ever seen a drug dealer advertising their product on billboards or in magazines? Of course not! It’s not just because they don’t want to get caught. It’s because they know that word-of-mouth is the most powerful form of marketing.

If people love your product, they will talk about it and share it with others. Drug dealers understand that getting your customers to recommend your product is the most effective form of marketing.

As a business owner, you’ll still need to invest in ads, but never forget that your product can sell itself, and nothing beats word-of-mouth marketing.

3. Free Samples Can Be Extremely Profitable

Think tech companies invented free samples? Drug dealers have been doing this long before the internet existed.

They give out small freebies, confident that once people try the product, they’ll want more. They may even give out a little more for free, but once the addiction kicks in, they’ll start charging—and make a lot of money.

If you’re looking for new customers and want your business to succeed, consider offering free samples. Give a little for free, and once people want more, make them pay.

4. Be the Brain Behind the Operation, Not the Face

Would you rather handle the hard labor or manage people? Smart drug dealers aren’t out on the streets—they’re the brains behind the operation. They figure out how to source drugs, manage distribution, and count the money discreetly.

They understand that if they’re out on the streets, they’re more likely to get caught. Instead, they stay behind the scenes and let the money flow in.

If you want to get rich, you won’t have time for hard labor. Instead, delegate and focus on strategy and execution. There are always people you can hire to do the hard work, but it’s harder to train someone to handle your overall strategy.

5. Always Look for Upsell Opportunities

Ever notice how drug dealers are always finding ways to make more money off you? Whether they’re offering better products or new drugs, they’re always selling.

Just like a drug dealer, you shouldn’t stop selling. Just because someone is already a customer doesn’t mean they can’t spend more with you. You can always find ways to upsell by surveying your customers to find out what more they want from your product, or discovering other issues within their organization that you could solve.

Whatever you do, don’t forget to upsell—it could become a significant part of your income.

6. Control Supply to Keep Prices High

What happens when there’s more drugs on the market than buyers? Prices drop, right? One of the best ways to keep your product price high is by controlling supply.

Drug dealers do this all the time. By controlling the supply, they can force addicts to pay whatever they want just to get their fix.

You can do the same in your business. For example, when Gmail first launched, it wasn’t available to everyone. They controlled the release of their free service so tightly that people were selling invitations on eBay for up to $50. Not bad for a free product!

7. Keeping Your Customers Happy is Easier than Finding New Ones

In any industry, attracting new customers is tough. Even drug dealers struggle with it, which is why they do whatever it takes to keep their existing customers happy, like giving them free drugs periodically or equipment to use the drugs they just bought. They do everything they can to please their customers.

You shouldn’t just focus on acquiring new customers; you should also prioritize keeping your current customers satisfied. This is one of the most critical factors for business success. If you’re losing customers or have a high churn rate, fix that before wasting money trying to buy new ones. It’s all about maximizing the value of your existing customers—that’s where the true value lies.

Final Thoughts:

Of course, we’re not suggesting you get into the drug trade! While it’s certainly profitable, it’s also illegal. The point of these tips is to help you elevate your business to the next level by understanding and applying these strategies to your own venture. With these strategies, you can increase sales and grow your business across multiple dimensions.

Entrepreneurship

New Study Highlights Top 10 In-Demand Skills in Bahrain’s Labour Market

Employers prioritize bilingual communication, digital literacy, and leadership as Bahrain advances toward a diversified, knowledge-based economy

Published

1 year ago

May 16, 2025

Arab Founders

A new study conducted by Quality Code Consulting in collaboration with the Bahrain Society of the Private Training Institutes (BSPTI) has identified the top 10 skills most in demand across the Kingdom’s job market, providing fresh insight into what employers are looking for as the country pushes toward a knowledge-driven economy.

The research—based on input from 309 stakeholders, including employers, job seekers, educators, and recent graduates—reveals a strong emphasis on bilingual communication, teamwork, and digital adaptability.

Communication and Collaboration Take the Lead

At the top of the list is proficiency in communication, particularly fluency in both Arabic and English. These skills are seen as essential across nearly every sector in Bahrain’s economy, including services, banking, technology, and tourism.

Closely following are teamwork and collaboration abilities, which are increasingly essential in a landscape where cross-functional and multidisciplinary teams are becoming the norm. These skills are seen not just as functional but critical to boosting problem-solving, execution, and innovation.

Digital Fluency, Critical Thinking, and Customer-Centricity

The study also underscores the growing need for digital literacy—defined as the ability to efficiently use digital platforms and IT tools—as well as the importance of adaptability and flexibility in a fast-evolving, tech-driven marketplace.

Also ranking high were:

Problem solving and critical thinking
Customer relationship management

Both are viewed as foundational in service-oriented industries, which remain a key part of Bahrain’s economic makeup.

Innovation, Leadership, and the Entrepreneurial Mindset

Employers across sectors also placed a premium on leadership and initiative, especially in roles focused on transformation, change management, and innovation. Creativity and emotional intelligence were cited as equally important, particularly in high-pressure, customer-facing roles where interpersonal awareness is vital.

Rounding out the list is the entrepreneurial mindset—the ability to identify, pursue, and implement new opportunities. This skill is increasingly seen as critical for driving economic diversification, a cornerstone of Bahrain’s Vision 2030 goals.

Empowering Bahrain’s Workforce for the Future

“This study represents a critical milestone in understanding the real-world needs of Bahrain’s employers,” said Nawaf Al-Jishi, Chairman of BSPTI. “By aligning training programs with these core skills, we can enhance the employability of Bahraini talent and contribute meaningfully to the Kingdom’s economic transformation.”

Dr. Chris Coates, Senior Researcher at Quality Code Consulting, added that the study tracked recovery trends across 17 key sectors, including trade, finance, tourism, and logistics. Participating organisations ranged from industry leaders to high-growth ventures.

“There is a clear synergy between these skills,” said Dr. Coates. “For example, effective communication enhances collaboration and reinforces leadership capabilities. Bahrain’s future workforce will be built on professionals who master both technical and human-centric competencies.”

Entrepreneurship

The ‘Fatal Mistake’ That Kills Startups Before They Start, According to Stanford Professor and Serial Founder

Steve Blank, who co-founded four tech startups and teaches entrepreneurship at Stanford, reveals the critical error founders keep making — and how to avoid it.

Published

1 year ago

April 17, 2025

Arab Founders

When it comes to launching a startup, Steve Blank has seen it all. As a seasoned entrepreneur, having co-founded four tech companies and written multiple books on entrepreneurship, Blank’s insights carry the weight of hard-earned experience. Today, as an adjunct professor at Stanford University, he shares a warning for every aspiring founder: most startups are doomed before they even begin, thanks to a simple but devastating mistake.

That mistake? Building a product before understanding the customer.

“I’ve seen this a million times,” Blank says, reflecting on his decades in Silicon Valley. Founders get captivated by their own ideas, pouring time and resources into building solutions that no one has asked for. They become so enamored with their vision that they forget the most fundamental question: Who is my customer, and what do they actually want?

The Dangerous Trap of ‘Build First, Sell Later’

Too often, Steve Blank explains, entrepreneurs come up with a business idea, race to develop a product, and only then start thinking about how to sell it. This backward approach is what Blank calls the “fatal mistake.”

“It’s not: ‘Here’s what I’m building. Can I sell it to someone?’” he emphasizes. Instead, successful founders start by deeply understanding their target customers. “The most important [question] is: ‘Who are my customers?’ And the second is: ‘What do they want?’”

Blank’s philosophy is backed by other successful entrepreneurs. Alberto Perlman, co-founder and CEO of Zumba Fitness, echoes this sentiment: “You have to always be listening, and listening between the lines, to your customer.”

Investor and Shark Tank star Robert Herjavec agrees, noting that failure to understand customer needs can spell disaster: “It’s natural to get attached to your product or service, but success hinges on seeing its value through the customer’s eyes.”

Lessons From Personal Failure

Steve Blank speaks from personal experience. In the early 1990s, he co-founded Rocket Science Games, raising an impressive $35 million and earning a feature in Wired magazine. On paper, the company looked like the next big thing. Talented engineers? Check. Polished game trailers? Check. Buzzworthy marketing? Check.

But there was a problem: the customers didn’t care.

“The games sucked,” Blank admits. They failed to resonate with gamers, and sales never took off. The company folded in 1997 in one of Silicon Valley’s most high-profile startup failures.

“The biggest killer for me, and the biggest failure, was hubris,” he reflects. “Don’t believe your own bulls—. It’s really easy to get convinced about your passion and your vision.”

Had he sought early customer feedback, Blank believes Rocket Science Games could have either pivoted or avoided the failure altogether. It’s a lesson that has shaped his teaching ever since.

Get Out of the Building

Blank champions a practice he calls “getting out of the building.”

This means stepping away from your desk, abandoning spreadsheets, and having real conversations with potential customers. Listen not only to what they say, but also to what they don’t say. Explore their frustrations, needs, and desires. Observe how they currently solve the problem you’re trying to address.

“The best insights come from direct, unfiltered customer feedback,” Blank insists. He teaches students and startup founders alike to embrace this proactive approach, using it to validate their assumptions long before they invest heavily in building a product.

Avoiding the Hubris Trap

Perhaps the most dangerous pitfall for founders is falling in love with their idea at the expense of reality. Blank calls this the “hubris trap.” Passion is important, but unchecked enthusiasm can blind even the smartest entrepreneurs to warning signs.

“Success comes from humility and curiosity,” Blank explains. “Assume you know nothing, and let your customers teach you.”

He points to the lean startup methodology as a way to mitigate this risk: start small, test assumptions, iterate based on feedback, and only scale once product-market fit is clearly established.

Building With Customers, Not For Them

Ultimately, Blank’s advice is simple but profound: don’t build in isolation. Involve your customers in the process from day one. Let them help shape your product, and your chances of success will skyrocket.

“It’s not about building the perfect product in a vacuum,” he says. “It’s about building the right product with your customers.”

For aspiring founders, this mindset shift could make the difference between startup success and failure. Take it from someone who has seen both sides of the journey—and who now dedicates his career to helping others avoid the same pitfalls.

Entrepreneurship

GoDaddy Study: 63% of Egyptian Women Entrepreneurs Are the Primary Breadwinners for Their Families

GoDaddy’s 2025 Global Entrepreneurship Survey highlights the growing role of Egyptian women in business and their adoption of AI to streamline operations.

Published

1 year ago

March 12, 2025

Arab Founders

A recent study by GoDaddy, the 2025 Global Entrepreneurship Survey, has revealed that 63% of Egyptian women entrepreneurs serve as the primary financial providers for their families. The report underscores how these women are embracing technology and artificial intelligence (AI) to enhance business efficiency and unlock new opportunities in the post-pandemic economic landscape.

Women’s Growing Role in Egypt’s Entrepreneurship Scene

The study found that 53% of small businesses surveyed in Egypt are owned by women, with 27% of them launched in the past five years. This reflects the resilience and adaptability of female entrepreneurs, particularly in navigating the economic challenges that followed the COVID-19 pandemic.

AI Adoption Driving Business Growth

Egyptian women entrepreneurs are not only managing businesses but are also leading in AI adoption to scale operations. The survey found that:

93% of respondents expressed confidence in their business skills.
96% believe AI will enable their small businesses to compete with larger firms in the coming year.
AI tools save them an average of 19 hours per week, equivalent to two full workdays.

Entrepreneurs are leveraging this saved time for:

Learning new skills (51%)
Analyzing business performance (50%)
Managing day-to-day operations (48%)

Financial Independence and Business Confidence

The study highlights that women-led businesses are contributing significantly to the local economy, not just by generating income but also by creating jobs. 62% of female entrepreneurs in Egypt feel optimistic about their business prospects, while 74% believe their ventures will expand within the next three to five years.

Women entrepreneurs also reported high satisfaction levels with their ventures, particularly in:

Introducing new products or filling market gaps (48%)
Developing management skills (40%)
Creating job opportunities for others (40%)

The Role of AI in Women-Led Businesses

AI-powered solutions such as GoDaddy Airo® have played a key role in helping entrepreneurs simplify complex business tasks. This tool enables small business owners to:

Build websites and logos effortlessly
Develop digital marketing strategies
Enhance online visibility through AI-driven SEO optimization

Selina Bieber, Vice President of International Markets at GoDaddy, commented:
“AI-driven tools like GoDaddy Airo® empower women entrepreneurs by saving them time, allowing them to focus on business growth, personal development, or family responsibilities. The success of Egyptian women in business is inspiring a new generation of female entrepreneurs.”

The survey also revealed that 93% of women entrepreneurs believe their businesses have improved their quality of life, providing a sense of fulfillment and empowerment.

GoDaddy’s Commitment to Women Entrepreneurs

GoDaddy continues to support millions of entrepreneurs globally by offering business-building tools, including AI-powered solutions for digital branding, e-commerce, and customer engagement. The company’s 24/7 expert support ensures small business owners have the guidance they need to succeed.

About the 2025 GoDaddy Global Entrepreneurship Survey

Conducted by Advantis Research in January 2025, the GoDaddy Global Entrepreneurship Survey examined small business owners across 12 countries, including Egypt, Saudi Arabia, the UAE, India, Germany, and Brazil. The study surveyed 3,504 business owners, with 500 respondents from the MENA region, all operating businesses with 1-49 employees.