and it’s got to be scratched.
You know the one… the one that tells you that its time to change your career again. It’s been 15 years with me running this business; however, while we have had quite a number of changes imposed upon us by market forces, I feel that I want to something other than just box moving. I am itching to do something creative with my time. I am itching for a change. I am itching to hand over the day-to-day running of this business to someone else under my leadership and me concentrating my time on developing new businesses completely unrelated to what we are doing now.
What works though?
It would be silly to assume that whatever endeavour I opt for will work and start making money in a short space of time. Maybe the best thing to do is to take the “shotgun approach” like so many of my friends. Start 10 companies and let them go out in the world, give each of them 6 months and be brave enough to shut those down which do not seem to be making money. If they just cover their costs however, leave them for a year to be in profit, or else they too bite the dust.
I am in love with micro-businesses at the moment; I don’t want to go into starting huge conglomerates that require millions to initiate, nor do I want to put that three-letter word at the forefront of my mind when thinking of businesses. If and when the opportunity comes for IPOing a business, then so be it, I just want these businesses to carry themselves and make a modest profit every year in order for me to sit back, relax, and continue blogging!
I know, if you’re a Gulf national you will immediately tell me to ditch all of these useless ideas and go borrow enough money to buy a couple of buildings, rent the flats and go reserve a seat and table for you at Starbucks where you can sit and wirelessly blog to your heart’s content. Which is good enough. I know some who can barely get the motivation to rub their two brain cells together to get out of bed, yet they are already millionaires and some are considerably younger and less educated than I am. But I don’t have the kind of money to do that, and they tell me that it’s a sellers’ market at the moment and in fact everyone is holding to their properties and don’t want to sell. Why? Because they will just get a bundle of cash that they can do nothing with except for putting it into a no-interest bearing account as they will not be able to re-invest that money into another building.
Other than properties, then, and there is no way I would go into even small scale manufacturing as that would require even bigger financial commitments, the only two markets left are either retail or services.
Which to go for?
How about both?
I think the best way forward at the moment then is to really to do both: start a small shop to sell fast-moving stuff and a service-based business.
Any ideas what those might be? Any advice? Anyone looking for a partner?
Comments
I’m impressed, Mahmood–many people don’t have the gumption to ever change their careers, much less their jobs. Good for you!
I guess you should probably do whatever it is that you truly feel passionate about (obviously financial considerations come into it; I’d love to be an archaeologist, but the pay wouldn’t be enough to keep me in nachos and salsa, even).
Given the huge increase (it seems) in ‘service industries) in the Gulf–perhaps a preparation for a ‘post-oil’ economy?–perhaps something catering to either international commerce, such as an import/export company, or else a retailer/distribution operation might be good. Or you might be able to offer your expertise to others (local and foreign businesses alike) as a consultant for ‘doing business in Bahrain’? Or maybe have a think about how you could tie your blogging with some sort of commercial enterprise? It sounds as though the Gulf might have a niche market for ‘Internet-related’ business consultancy, perhaps? Dunno.
I don’t know all your background, but I’m sure you’d make a huge success of any of the above, or any other idea. Best of success!
Btw, I saw ‘Syriana’ last night–good conservative that I am, I’d avoided it for months, but my wife rented it on DVD. Not a bad film after all, though I’d love to hear from anyone in the Gulf, hint, hint, as to whether the film’s portrayal of the ‘family dynastic politics’ of the region vis-a-vis the oil companies is accurate, or not….
I think there’s a gaping hole in the market in Bahrain for a cutting-edge computer shop, along the lines (though perhaps not the scale) of http://www.overclockers.co.uk. Golden Computers in Khobar seem to be able to get the latest CPUs etc…
Problem is, Bahrain’s market has always been, and will always be (at least for the foreseeable future) a market for the lowest common denominator, and price will always rule supreme.
And I say this from a background of computer sales, in which we (when my company was called Computer Point) insisted since 1991 to sell ONLY genuine computer parts and software, very few bought, preferring to go to the various shops around the island then who not only sold at the cheapest possible price, but threw in a hard-disk-full of pirated applications.
Now as the professional audio and video and broadcast sales, people still prefer to go cheap and get a pirated application, and then have the gall to actually call our technical support line wanting help for a product we represent! When we tell them that we cannot support pirated applications, they complain to the manufacturer that their representative (us) is not helpful!
You can guess what the manufacturer’s response is in those cases!
So no, I don’t agree that having an “overclockers'” like computer store nor one that is like Golden Computers would be a good thing to have here. Well, let me qualify that statement, it would actually be an excellent thing to have here, but they will both go bust within 6 months of opening here as they won’t have any customers.
Next!
I thought of that at one point in time or so… Bahrain’s market can be tricky… people do spend on luxury items, but do we have enough who would spend on “Alienware” or “Voodoo”-specced gear? Besides, doesn’t Hilal CTS supply Dell XPS systems? (and yes, I do know that Alienware is now a Dell subsidiary.)
Mahmood… how about a one-stop-shop for Home Theater Systems? From interior design to selecting equipment and servicing? A lot of homeowners are looking to retrofit such systems into existing homes or have them part of new home designs (ala media rooms).
I’ve set up my own system (twice actually) and it was immensely enjoyable+geeky… everything from building the HTPC to selecting the projector, as well as the right furniture and ambience…
If you could set up a little demo “media room” and show what you can deliver to people’s homes (perhaps rent a shopfront in one of the malls) you might have a business on your hands.
I know one thing for sure: Every time I crank up my DTS amp, light up the 280″ screen and load up the Meedio system with 50 DVD’s (scaled up to 1080i) instantly accessible (plus internet, plus Quake 4, etc), it beats the crap out of going to the mall cinemas.
Let me know if you wanna find out more about my setup.
Hisham K.
Hisham, now THAT is an entertainment set up you’re describing!
I’ve actually tried to sell such systems for a couple of years, even brought in an Austrian company (Wolf Vision, now deceased) which specialised in the remote controls, projectors, integration etc but could never make it work… because of price again. I was shooting for the high-end, but most wanted cheap.
Although I agree that times have changed now and these equipment although might not be within the grasp the normal Abdulla, the market layer is certainly more receptive.
Worth thinking about.
It is… one would be pleasnatly surprised at the quality that a 1,500 – 2,000 beeds setup can provide (which is the range of my setup.)
The trick; I think, is to give people options and keep inventories low. The thing is, you’re selling them your “consulting and setup” service more than anything else.
Start off with an 800-1,000 budget recommendation. Then maybe 2,000 for the mid-range, and perhaps 4,500 for the high end. (I don’t think Marantz $20,000 projectors would be feasible though, as you see.) But of course, this requires more research, vendors etc, which I’m sure you’re already familiar with and been through by viture of your other businesses.
Also, think of all the new residential developments and how that can be marketed to the developers themselves.
Hisham K.
Hisham idea sounds good Mahmood and not expensive to set up. Potential market for it is promising with all the building going on…….. go for it.
How much modest profit are we talking about?
Why put their money in a no interest account and not in an interest paying account ?
Personally I support anon’s idea of a hardware shop that actually *knows* about hardware AND is able to bring the latest high-end / medium-end gear.
They’re non-existent in Bahrain and instead you have to haul to SA and get what you want from there :/.
The state of hardware shops in Bahrain is quite sad…. I’ve been thinking of doing what anon suggested when I grow up and have enough money =P.
– If you’re a hardware store operator :
You know you should close down when a 16 year old boy solves a problem that took you 3 hours attempting to fix it in less then 10 minutes =P.
No thanks Henry, and if you promote your company and services on any of my sites again without permission, I shall remove all your comments and regard them as spam.
I would take the Home Entertainment concept one step further and suggest you look into Home Automation. Basically it would combine entertainment, security, and appliance control.
The concept is straightforward, with the home being IP enabled and every device managed from a local wireless tablet or remotely via the Internet.
This is a quick example, but it can be more advanced: http://www.crestron.com/features/applications/home/
Think Media Center accesible from LCD monitors in any room, one-touch home profiles to switch all devices from “Party Mode” to “Night Mode”, or even biometrics on every door. Forget about getting up to switch off the lights or draw the curtains. Never touch a DVD again because everything is stored in your media server. Access your home security camera remotely from your mobile phone and make sure the cat isn’t up to any mischief.
Price isn’t a major issue anymore, with market leaders emerging from Malaysia and Korea, the tech is readily available at prices much lower than their patented western alternatives.
The target market is growing, with new homeowners willing to pay a premium for things like security and entertainment (The entire set up would increase base price by 10%). Property developers are also looking at ways to value add their offerings to beat the competition (That’s what I’m working on these days). And finally, as Bahraini business relationships go, all you need is a good contact to fit-out just one palace, and that would set you up with profts for one or two years to come.
The Pro Computer Hardware shop isn’t a bad idea either. While it’s true that the “average” Bahraini only wants the cheapest price in the lowest monthly installments, you also have an emerging generation (those 16 year olds mentioned above) who will soon graduate college and become next gen consumers with new demands. This generation is already spending thousands on video games, and many are ordering their hardware via Aramex from U.S. mailboxes.
And don’t be so quick to rule out the real estate industry. Sure it’s a sellers’ market at the moment, and the entire insudtry is heading towards a crash which could be 10 months or 10 years away, but it’s still very viable to build–not buy–property. A multi-storey apartment building could be very lucrative, even to build (1 year time/energy investment) and immediately sell for 50-100% profit. Actually, if you can get your hands on a couple of graphic designers and a marketing guru, that’s all you need to go the IPO route and start the next big multi-million development project (subject to the suitable Wasta though).
Of course there are a lot of ideas out there which you can consider — and some which I have to keep to myself ;). Some are more profitable but less fun than others, and it mainly depends on how much you’re willing to spend in a single investment. Having said all that, I’m more than sure you’ll be successful in anything you do. All the Best.
Sometimes all you need is a simple idea that JUST MAKES SENSE ALL OF A SUDDEN ™.
-innovative khabbaz with a variety of “pizza-khbez,” “character-khobez,” “your-kids-face-on-a-khobez-khobez”
-thobe with t-shirt style graphic designs. Ocean Pacific/Energie meets the venerable crispy clean Eid thobe.
But then again, the Home Theater coupled with Ehsan’s Home Automation idea might sound better to the bankers.
Anyone looking for a partner?
Sure. What do you know about free software? Would people be interested in lowering costs legally (i.e. – Linux)?
Shachar
Mahmoud, this might be something you were referring to as too expensive a product but here goes; how about an Apple store? Before Apple started to have their own stores selling of course, only their stuff, I had the idea myself but..I was bogged down with baby and sleep deprived. Then it happened, an Apple store got opened up and looked pretty snazzy with all those Apple stuff. I was kinda bummed out to think I had a great idea and of course, the Apple people must have been thinking about it for a while before taking the plunge..but..it validated my business idea.
anyway, the idea is NOT just to start up an Apple computer, but to add computer classes to it. Final cut pro (something the editors in Hollywood use now), teach all kinds of computer classes for different levels. Special classes for ladies (your saudi market?) only. Invite a known/famous editor from Hollywood for a workshop on editing for film. Attach something that makes it special. A drawing place of sorts. Have a few demo computers people can use for a limited time and have a coffee shop attached to it. People can come and yak and be on the computer playing with the demo for a while. Just brainstorming now but, would an internet coffee shop work? Tooners said she wanted to set up a Jamba Juice at some point (I’m outing you girl), you could do something like that instead of a coffee shop. The key is, whatever you can attach to for example running an Apple store, is going to be the bread and butter. I was told with a bookstore that often the little trinkets (cards, candles etc) provide the bulk of the money. I cannot imagine it myself since I am a book worm but what do I know? Bring in specialized teachers from the European/Middle Eastern/US film industry for doing a week on screenwriting. How about teaching the ins and outs on blogging, the hardware part of it? I wish I had someone to show me literally the differences in blogger, typepad, movepad (whatever it is called) wordpress, and explain about all the other trackback this or all the gezillion little things that come with making your site more visible..
Just a few ideas on top of my head..
Ingrid
Here’s how the conversation went this morning:
“Mahmood’s thinking of a career change…”
“Parliament?….”
“I’m gonna hafta tell him that!!!”
“……oh, but PLEASE tell him it’s not an insult to his intelligence!”
time for the pros and cons table Moo!
good luck mate 🙂
You do get a free bisht I believe. If you’re into suits, then they might just give you a tie or something like that.
A French food shop selling cheeses and meats and breads and delicacies – would complement Leilou’s rather well I think….
A ski shop. I dare you. 🙂
How about a site where people can sell or auction things like ebay or craigslist.org but designed for customers in bahrain or the middle east. I think it would be a great way to get buyers and sellers together even if the stuff sold has been used as long as its in good condition. You could charge a small fee for every post made or charge a small fee for every item sold or even a 1 time fee to set up an account and be able to sell or buy as many things a person wants.
According to the UN’s annual Arab Development Report, the entire Arab world in one thousand years has only translated as many books as mid-size Spain or smaller Greece does each year.
600+ million Arabs, with growing literacy. But, is there a market for the thinking of authors from Japan, South America, et al? Greek philosophy has barely begun a come-back in a few Arab universities, whereas the Arabs once led the world in the study of Greek thinking, before the caliphate became the sultanate. From the Greeks we get the concept of beauty and virtue being synonymous (the Greek concept represented in the architecture and interiors of Muslim mosques, dedicated to the glory of God), and the concept of objective truth is entirely a Greek idea which has transformed all of Europe, North America, South America and parts of Asia and Africa (originally derived from the empirikons who surrounded Hippocrates, who wrote that to find the cause and cure for illness one must externalize and objectify).
Sophocles’ play, “Ajax,” is one small example:
‘Odysseus: I do not admire a closed mind.’
But then, to be a reputable pubisher one must have a passion for ideas, not gadgets.
Isn’t it wonderful, though, to have choices of a future profession?
‘Be free,’ Mahmood.
Mahmoud, I like Duoists’ idea too. You could perhaps keep it to computer type books that might be more up your alley, although having the Arab world play catch up in the literary world is a laudable goal.. you could start with one specialized area, gain respect and sales, and then venture out from there. You sure do have some interesting choices BECAUSE of where you live…bahrain is your oyster dude!!
Ingrid
Barcode tattoo bar? I think the Government would love it if you can realize a 1984 dystopia for them with RFID tracking people, evil-looking red light blinking 360 degree security cameras and a whole host of other fun stuff that will make Bahrain… er, safe.
I know that feeling well. After 15-odd years as a banker, I quit about six months ago for a 360 degree change into a totally different creative field. Dunno where it will end, but I have a target – to make a movie – and am more than happy with the change in my lifestyle so far.
Sounds to me like you have already made you mind up, you just need to find something to do. I like service based businesses because there are so few of them that do it well in Bahrain and I also like the convergence of IT and entertainment which can only continue to grow, but avoid being product-centric as it is too easy to become a dealer and does not add value to the customer. I for one would be happy to pay for a premium service as long as the service element was not forgotten.
Duo, I have thought about that for a long time and I think the problem actually lays in the language itself. Like Greek, I think there needs to be a ‘practicalisation’ of Arabic for the modern day to make it more efficient. I know it smacks of fahrenhiet 451 and all of the other social, cultural and religious issues it brings up, but I just wanted to throw that out there…
Meanwhile, back at the ranch, the blair-ites hatch their plan…
I’d agree with the Parliament idea–you need some more ulcers, right?
My two cents, given that I’m military and not business:
–You’ve got lots of time, and it sounds from this post as though you might want to take that time to analyze the opportunities available because you don’t want just money, you want something interesting to be doing.
–It might be nice to have something like California’s Fry’s, or the electronics souks under the trainways of Akihabara. Those are not just places to buy cheap or luxury home entertainment items but also incubators for future generations of tinkerers and experts, growing enterpeneurs in the culture. I don’t know if it would work in Bahrain but there are a lot of young folks in the region who might enjoy building their own gadgets. If I were looking for just bargains on TV’s I might just look at Amazon instead. What I don’t know is if Fry’s is there because of the culture or the culture is helped by Fry’s–it’s hard to kickstart hobbies!
–A similar company but for all sorts of hobbies (from jewelrymaking to woodworking to gardening to printing to barbecuing) is Japan’s Tokyu Hands (Japanese web site here). The typical store is the size of a ten story building, packed with goods like stained glass, calligraphy, etc., with classes and kits and clubs and so forth.
–Several folks I know of (including myself) felt a similar urge and went to the Fletcher School of Law and Diplomacy’s Global Master of Arts program. I don’t know if it did anything for them, but most seemed to need a change, and learning part time for a year seemed to be useful. In my case it provided a slightly different professional path than I had originally considered, and I gained a small network of new friends.
–So does this mean you should take a hobby and make it pay, like getting invoved in the racing circuit, or gardening shops?
It sure seems to me that you’ll succeed at what you wish, given the right help from God and your own talents!
If you wish to go private instead of IPO, and the business is good, I’d personally put in at least ten and a half BD into the company. That’s about thirty US dollars, so, gee, I’d go in for eleven BD, even…
Take the conscept of entertainment and automation one step further. Build houses with built in theater and automation. Build warehouses they sell fast here.
Start a Starbucks type of coffee shop Arabic style featuring various coffees from the region and world then franchise out.
Do what you do great, write. Travel and write guide books. Write a fictional book about a blogger. Got to be a movie in that. Write about auto racing.
Heres a real challenge for you. Help me figure out why safe mode=on shows locally with phpinfo.php on the sites I host on my server even though the php.ini files server wide are off.
billT
How about a Casino? You could build the Ceasar’s Palace of the Gulf. Or maybe run the biggest Poker Tournament in the Gulf. You could use your knowledge of cyberspace to start the Arab worlds version of internet gambling. You know the mafia isn’t going to come over there to want a piece of the action. Probably violates some rule in the Koran..but..Dubia has a waterpark..I mean, women in bikinis?, that has to be worse.
The natural is to tap into disposable income. Center on high margin items that are in limited production or availability. Of course it all depends on the level of available capital. Whatever it is make sure the industry sustains high revenue per employee. Of course property development or other real estate ventures are always good if you can be nimble. Sometimes to know the exit point though. If you’re serious about a partner I’d like to kick the ball around a bit to find out what floats your boat. And thanks for your site. Let’s everyone know that, as dire as the world may seem, we can “all just get along”.
PS: By the way Chap. I am now proceeding to the Global MA program, intriguing.
How about a Jamba Juice shop?
I think it’ll work marvelously!
Honestly, ‘if’ I had a great business idea Mahmood, I wouldn’t share it on your blog 😉
Yeah great, im going to post my idea and make you rich while im here reading your blog and keeping it busy!..
Your mean Mahmood.
Well you can always email me if you wish!
Thanks all for the suggestions, keep them coming!
I think some fast food chains from the States would do well. Some that immediately come to mind are In-and-Out Burger, Whataburger, especially Taco Bell, Taco Bueno, and/or the California Pizza Kitchen (altho it isn’t fast food). These could be opened in the Juffair area which is really taking off currently. Also another great place that has restaurants in many ME countries is TGI Fridays. I noticed that a Bennigans opened in Juffair.. not sure if this is the Bennigans from the States or not.
I’m also interested in starting up some type of business… have been for a while. I’ve contacted a few clothing companies from the U.S., but they aren’t interested.
I also think a Jamba Juice would be great and would do very well here!! I’ve thought about this for a while.
I also have a few other ideas…. and would be interested in going into business.
haha tooners all the fast food restuarant you’ve mentioned are my fav except whataburger… it sucks! In and Out is amazing, I didnt know it was popular, though it was only in arizona.
In-N-Out is VERY big in California. Whataburger.. well, I like some of them in Texas, but sometimes their stuff isn’t the greatest… but I think it would do well here. I would love to see a Taco Bell here!!!
I know!!!
How about White Castle burgers? 😉
uuuuhhhhh, YES!!! yum, that would be great! 🙂
yep, auction site is the best suggestion i have read so far
Mahmood, how are you.. you look different!!
I have an idea that require a mixture of blogging, networking, programing and Arabizing. if you are interisting let’s talk about it if it could be done.
Sami
My suggestion is simple: do something you love. Doesn’t matter if it makes tons of money, needs tons of money to make (doubt you qualify for an IPO Mahmood – no offence), as long as it’s something you’re passionate about it. I for instance recently switched jobs from one end of the spectrum to the other but found no satisfaction. Started up my own place (service industry) and it gives me so much satisfaction knowing that it’s something I’m truly passionate about.
You seem like you’re good with photography, or gardening…etc, work your way from there. Rather than doing something so solid, do something fun.
Don’t get me wrong, I still have my current job as it pays the bills and keeps me living comfortably. But now I have a place to be me and show my true colors, rather than being restricted to business rules and regulations. But what really satisfies me is my personal business – an escape to shine 🙂
Good luck yo.
Five Guys burgers in DC and VA ROCK THE HOUSE. PF Changs is another franchise worthy of some serious consideration.
Bahrain is one big restuarant. Anything with food works so go wild. Franchises are easy but expensive because you’re buying the reputation (give me a Cheesecake Factory anyday). But for something more original then find a niche and target it. Creperie. Chocolate Bar. One thing that’s a differentiator: publishing nutritional information on menus.
…Aren’t we getting off track?
Mahmood, I believe there is one Fast Food Franchise that would do very well in Bahrain considering the Arabic culture. SONIC, It allows the customer to order and have their food while never having to leave their car. I see this all around Bahrain, It’s all brought out to you.
They have great Food, Fast service and a big menu.
Teens and Families would love it.
yes, back to Mahmoud’s specialty; computers. So I second my own motion and say, (again!) Tooners, grab Mahmoud at the next Bahraini bloggers meeting with info re. Jamba Juice, find info on the Apple Store plus (big time important) computer classes that will help Arabic only speaking as well as English speaking Bahrainis. Target your Saudi Customers, especially since it would be much harder for them (as in a saudi business man) to get an outsider to come in (I think anyway) to teach Final Cut Pro. The space does not have to be big, you could probably start up with just classes first to gain a reputation plus they could buy the Apple Computers through you, perhaps? Think of the coffee houses here in North America..they make it so that you don’t necessarily just come in to buy coffee, but it’s a gathering place where people will hook up and have a coffee.. make it a social place..
Ingrid
PF Changs would be really good! They have great food and I think it would do well here, altho it’s on the upper end money wise and some ppl may not like the prices. Cheesecake Factory is another great one… such variety in their menu! Another good restaurant is Joe’s Crab Shack… I personally love the place, but not sure how that would go over here.
I also agree w/ Anon, SONIC would be fabulous. I love the place and it is perfect for Bahrain for all the reasons they stated.
Ingrid, I will get some info together on Jamba Juice… and Mahmood, here’s to bringing it to the next bloggers gathering…
tooners, WE look forward to you and better arf joining us in September, and about time too!
Ingrid, I wouldn’t be caught dead having anything to do with Final Cut Crap. Avid all the way babe!
Mahmood, Duoist has a good idea. But let me improve a little on it. You see the problem is that Arabs are frightened of us in the west, because they see us above all as a kind of extraterrestrials with no moral, no culture, no religion, but lots of money and stuff, right? Well, I have always thought the European Union or somebody should start a scheme of translating into Arabic the classical literature of Europe and the West, and I do not mean highbrow writers, but rather the kind of stuff that is about traditional, rural or small-town life. I mean, so that Arabs might understand there historically is a side to Western life they can relate to: farmers, cows, religion, hymns in church – a Western life less threatening than all that modern city stuff, you know. No Jean-Paul Sartre, but rather Alain-Fournier and Marcel Pagnol. Shouldn’t that be something for you? I am positive it would be good for everybody. For Arabs, for the West, for peace.
Learner,
USAID has been doing a lot of that recently with their book translation program, but that’s not exactly Top 40 popular. Everything from de Toqueville to the Federalist Papers to Walter Russell Mead’s latest.
They’ve been doing similar work with Sesame Street, too ( http://www.usaid.gov/locations/asia_near_east/features/egypt-sesamestreet.html ).
Great job, USAID. More power to them.