Kholoud Hussein 

Saudi Arabia is witnessing a rapid transformation of its financial landscape, largely driven by the government’s commitment to nurturing the FinTech sector. In line with its Vision 2030 agenda, Saudi Arabia has launched several initiatives aimed at accelerating FinTech growth, promoting innovation, and creating a robust, competitive financial ecosystem.

Vision 2030 and the FinTech Strategy

At the heart of this transformation is Saudi Arabia’s Vision 2030, which aims to diversify the economy and reduce dependence on oil revenues. One of its key pillars is the development of the financial sector, where FinTech plays a pivotal role. The government recognizes the potential of FinTech to enhance financial inclusion, improve efficiency, and foster innovation across various sectors.

The Financial Sector Development Program (FSDP), launched under Vision 2030, aims to create an enabling environment for FinTech innovation. This includes modernizing regulations, facilitating partnerships between traditional financial institutions and startups, and supporting the digitalization of financial services. The goal is to increase the share of cashless transactions to 70% by 2030, a move that will be largely powered by FinTech.

Regulatory Sandboxes and SAMA’s Role

One of the most significant government initiatives is the creation of regulatory sandboxes. Launched by the Saudi Arabian Monetary Authority (SAMA) in 2018, the sandbox allows FinTech startups to test their products and services in a controlled environment, without the full burden of regulatory compliance. This initiative has been crucial in fostering innovation by providing a space for startups to experiment and refine their offerings.

SAMA, in collaboration with the Capital Market Authority (CMA), has also introduced new frameworks to regulate crowdfunding, digital payments, and peer-to-peer lending, ensuring that the regulatory environment keeps pace with technological advancements. These efforts not only provide a clear regulatory path for FinTech firms but also build trust with investors and consumers.

Supporting Financial Inclusion and Entrepreneurship

Another key aspect of Saudi Arabia’s FinTech growth is the government’s focus on financial inclusion. The introduction of digital payment platforms, mobile wallets, and microfinance solutions has brought financial services to underserved populations, particularly in rural areas. Initiatives such as the Saudi FinTech Initiative further support the sector by providing mentorship, funding, and infrastructure to early-stage startups.

In conclusion, through strategic initiatives, Saudi Arabia’s government is laying the groundwork for a thriving FinTech ecosystem. By fostering innovation, enhancing financial inclusion, and creating a forward-thinking regulatory framework, the government is accelerating the growth of FinTech, positioning the country as a leading financial hub in the Middle East.

Kholoud Hussein 

In recent years, mobile payments have surged in popularity in Saudi Arabia, transforming consumer behavior and reshaping the financial landscape. This shift, fueled by technological advancements and changing consumer preferences, reflects a broader trend toward digitalization in the Kingdom's economy. Here’s a brief look at how mobile payments are influencing consumer behavior in Saudi Arabia.

1. Enhanced Convenience and Speed

One of the most significant impacts of mobile payments is the convenience they offer. Consumers in Saudi Arabia are increasingly embracing mobile payment apps for their ease of use and speed. With just a few taps on their smartphones, users can complete transactions instantly, bypassing the need for cash or physical credit cards. This seamless experience is driving higher adoption rates and changing the way people conduct everyday transactions.

2. Increased Digital Engagement

The rise of mobile payments has also led to increased digital engagement among consumers. As mobile payment apps often come integrated with loyalty programs, discounts, and promotional offers, users are more likely to engage with brands through these platforms. This digital engagement not only enhances the consumer experience but also provides businesses with valuable data to tailor their marketing strategies.

3. Shift Toward Cashless Transactions

Mobile payments are contributing to a gradual shift away from cash transactions. Saudi consumers are increasingly using their smartphones for a range of activities, from purchasing groceries to paying for services. This trend aligns with the Saudi Vision 2030 initiative to reduce reliance on cash and promote a cashless economy. As more merchants accept mobile payments, the trend toward cashless transactions is expected to continue.

4. Boost to E-Commerce

The growth of mobile payments is closely linked to the expansion of e-commerce in Saudi Arabia. With the convenience of mobile payments, consumers are more inclined to shop online, driving growth in the digital retail sector. Mobile payment solutions streamline the checkout process, reducing cart abandonment rates and encouraging more frequent online purchases.

5. Enhanced Financial Inclusion

Mobile payments are playing a crucial role in enhancing financial inclusion in Saudi Arabia. By providing an accessible and user-friendly alternative to traditional banking, mobile payment solutions are reaching underserved populations and individuals without access to conventional financial services. This inclusivity supports broader economic participation and financial

Kholoud Hussein

The wealth management sector in Saudi Arabia is undergoing a dramatic transformation, largely driven by advancements in financial technology (fintech). This shift aligns with the country’s Vision 2030 goals, which emphasize economic diversification and technological innovation. Here’s a snapshot of how fintech is reshaping wealth management in the Kingdom.

1. Broader Accessibility

Fintech platforms are democratizing access to wealth management services. Digital investment tools, including robo-advisors, now offer personalized portfolio management to a wider audience at lower costs. This means that individuals who previously lacked access to such services can now benefit from sophisticated investment strategies.

2. Enhanced Personalization

With the help of big data and artificial intelligence (AI), fintech firms in Saudi Arabia are providing highly personalized financial advice. These platforms analyze users’ financial behaviors and risk preferences to deliver tailored investment recommendations, allowing for more informed decision-making.

3. Blockchain Integration

Blockchain technology is enhancing transparency and security in wealth management. Saudi fintech companies are exploring blockchain for asset tracking, transaction processing, and smart contracts. This decentralized technology helps reduce fraud and ensures the integrity of financial transactions.

4. Innovative Investment Products

Fintech is expanding the range of investment products available in Saudi Arabia. New offerings include cryptocurrencies, peer-to-peer lending, and fractional ownership of assets, which provide investors with diverse opportunities to grow their portfolios beyond traditional investments.

5. User-Friendly Platforms

Modern fintech apps are designed with intuitive interfaces that simplify wealth management. Features such as automated portfolio rebalancing and real-time performance tracking make it easier for investors to manage their assets effectively.

6. Supportive Regulation

The Saudi Arabian Monetary Authority (SAMA) and other regulatory bodies are fostering fintech growth through supportive policies and regulatory sandboxes. These initiatives allow fintech startups to test and refine new solutions, ensuring compliance and boosting investor confidence.

Future Outlook

The fintech revolution in Saudi Arabia’s wealth management sector is set to continue and is driven by ongoing technological advancements. However, challenges such as regulatory compliance and cybersecurity will need to be addressed. Overall, fintech is paving the way for a more inclusive and innovative financial landscape in the Kingdom, aligning with Saudi Arabia’s broader economic goals. 

Ghada Ismail

Since the rise of modern technologies & AI-powered robots, there has been a scorching hot unsolved debate on the future of the world with machines replacing humans and whether we can still count on humans only, machines only, or machine-assisted humans and vice versa in our everyday lives.

 Scientists and tech-savvies conducted millions of research papers and studies on the theme of “Humans vs Machines” where they displayed aspects of the competition between human beings and automated machines, particularly in the context of various tasks and activities. The comparison every day becomes more relevant with the rapid evolution in technology and artificial intelligence prevailing in almost every aspect of our lives and businesses in particular.

Almost everybody then came to one conclusion that humans excelled in areas as they have the tendency to be significantly the masters being creative, emotionally intelligent, skilled at complex problem solving, and ethical and moral decision making, while machines outperformed humans in aspects like speed, efficiency, data processing, 24/7 availability and safety in hazardous environments. This led to a logical conclusion that a combination of human capabilities and machine automation shall make the most convenient equation.

This is known as "human-machine collaboration" or "augmented intelligence," where machines and humans coexist and assist each other. Machines provide assistance to humans in tasks that align with their strengths while allowing machines to handle tasks suited to their capabilities with one main aim to create a co-dependent relationship that leverages the strength points of both humans and machines to achieve better outcomes across various domains.

Businesses & Organizations turning to integrate and invest in generative AI tools

In a detailed report issued by Capgemini Research Institute, namely “Generative AI in Organizations 2024”, we found out that most organizations are tending to maximize their use of generative AI, and there has been an increase in investment in the technology over the last year, but before we dive in the report findings, let’s explore what Generative AI is?

Generative AI, or gen AI, is a set of algorithms, that is capable of generating seemingly new, realistic content—such as text, images, or audio—from the training data. The most powerful gen AI algorithms are built on top of foundation models that are trained on a vast quantity of unlabeled data in a self-supervised way to identify underlying patterns for a wide range of tasks.

Thus, gen AI is a type of AI technology that can generate various types of content, including text, imagery, audio, and synthetic data that can be applied extensively across a wide array of business fields and become useful and versatile material serving everybody, each for his own certain purpose. The recent buzz around generative AI has been driven by how easy and smooth, assisted by these tools, can create high-quality text, graphics, and videos in a matter of seconds.

Back to Capgemini’s report, researchers found out about 80% of organizations have pumped more investment in generative AI since 2023, and 20% have kept the same investment level, whereas, 24% of organizations have integrated generative AI into some or most of their locations or functions. This represents a significant surge increase compared to only 6% reported just a year earlier.

The report extracts data from a global survey of 1,100 executives at organizations with more than $1 billion in revenue across 14 countries and 11 industries and sectors.

The data came revealing that generative AI is increasingly integrated into organizations, causing changes in operational patterns. Over the past year, it has been significantly observed that the application of generative AI has surged across all sectors, and most organizations embrace generative AI at their workplaces, with only 3% enforcing a complete ban on publicly available generative AI tools for work purposes.

Those organizations that have already adopted generative AI reported experiencing benefits, including improved operational efficiency, enhanced customer experience, and increased sales. 

Speaking generally, the report states that organizations have witnessed a 6.7% improvement in customer engagement and satisfaction in the areas in which generative AI has been integrated. Consequently, businesses have started to adjust their strategic approaches and explore innovative ways to harness generative AI’s capabilities.

On the other hand, The McKinsey Global Institute issued a report namely “The Economic Potential of Generative AI: The Next Productivity Frontier” that unfolded an analysis of the impact of technological automation on work activities and modeling scenarios of adoption in 2017. Back then, researchers estimated that workers spent half of their time on activities that had the potential to be automated by adapting technology existing at that time. Then they set a range of potential scenarios for the pace at which these technologies could be adopted and affect work activities throughout the global economy.

Researchers found out that technology adoption at scale does not occur overnight. The potential of technological capabilities in a lab does not necessarily mean they can be immediately integrated into a solution that automates a specific work activity, as developing such solutions takes time. Even when such a solution is developed, it might not be economically feasible to use if its costs exceed those of human labor, which proves that humans cannot be fully substituted (maybe partially). Additionally, even if economic incentives for deployment exist, it takes time for adoption to spread across the global economy. Hence, these adoption scenarios, which consider such factors together with the technical automation potential, provide a sense of the pace and scale at which workers’ activities could shift over time.

Final verdict

Across human history, we’ve already seen how new technologies have the potential and capability to reshape societies and change the anatomy of work for good. We can safely count on artificial intelligence to change the way we live and work and accomplish the simplest everyday tasks, starting from helping us generate content, analyzing data, or draft emails, to conducting the most advanced tasks, such as optimizing business processes or making recommendations about the next product to buy. This rapid development of generative AI is highly expected to significantly augment the impact of AI overall, generating trillions of dollars of additional value each year and transforming the nature of work.

However, it seems like technology could also come with a side-effect and come up with new and significant challenges. Tech users must act as much quick as they can, given the pace at which generative AI could be adopted, to prepare to address, and most importantly to be able to handle both the opportunities and the risks that come with the package.

Mohamed Gamal

Saudi Arabia is gearing up to host the inaugural 24 Fintech Summit from 3 to 5 September at the Riyadh Front Exhibition & Conference Center, offering a golden chance for fintech startups to connect with investors and gain knowledge from industry leaders.

The summit is expected to be one of the key events gathering entrepreneurs, investors, and experts in the fintech landscape to nurture innovation and empower startups to thrive and grow.

How can startups capitalize on 24 Fintech?

1. Investment and funding opportunities. Being attended by several investors and venture capital (VC) funds, the summit will enable startups to showcase their offerings in front of numerous potential investors. It represents a significant milestone in startups’ journey to secure new funding and forge strategic partnerships that boost their growth.
2. Networking and collaboration. 24 Fintech brings together entrepreneurs, seasoned experts, and government officials from around the world, offering a dynamic space for startups to broaden their networks. Such networks are fundamental to sharing knowledge, finding new partners, and exploring potential cooperation opportunities.
3. Learning from experts. The summit will include discussion sessions and workshops led by seasoned fintech experts, enabling startups to discover the latest trends and technologies that can boost their business.
4. Demo showcases. 24 Fintech Summit will be an ideal platform for startups to spotlight their innovations and offerings to attract potential investors and partners. Additionally, it will help startups reach new clients, increase brand awareness, and tap into new markets.
5. Expanding in the Saudi market. The summit will be an ideal chance for startups to tap into or expand in the Saudi market, backed by government support and the Kingdom’s focus on enhancing the contribution of the fintech industry to the national economy.

The 24 Fintech event represents a significant milestone in the startups’ journeys toward growth. By exploring funding opportunities, building networks, and leveraging leaders’ expertise, startups can consolidate their positions in the market and contribute to driving innovation in this dynamic sector.

Key topics

The 24 Fintech Summit will uncover several topics related to the fintech industry, such as artificial intelligence and machine learning in financial operations, cybersecurity and big data, embedded finance, and the evolution of open banking.

This diversification will provide startups with brand-new ideas to develop their offerings and services, in line with the latest industry trends.

24 Fintech is not just a stage; it is a comprehensive platform that aims to drive innovation through collaboration and investment and empower startups to scale and thrive. This three-day event will enable startups to forge invaluable connections with industry leaders, explore the latest trends, and secure the funding they need to grow.

Translation: Noha Gad

Kholoud Hussein 

As anticipation builds for the upcoming Fintech 24 event in Saudi Arabia this September, all eyes are set on Riyadh where a pivotal gathering of innovators, investors, regulators, and thought leaders will explore the future of fintech in one of the Middle East’s most rapidly evolving economies.

The Main Theme: "Innovating for Inclusion"

This year’s Fintech 24 will revolve around the theme "Innovating for Inclusion," reflecting Saudi Arabia’s broader ambition to create a more inclusive financial ecosystem. The theme highlights the event’s focus on how fintech innovations can enhance financial inclusion, democratize access to services, and drive economic growth across various demographics.

1. Financial Inclusion as a Catalyst for Growth
One of the central themes of the event will be the role of fintech in bridging the gap between traditional financial systems and underserved populations. With a substantial segment of Saudi Arabia's population still lacking access to fundamental financial services, fintech innovations are poised to offer new avenues for economic participation.

Attendees can expect to hear from industry leaders about how mobile banking apps, digital wallets, and microfinancing platforms are helping individuals and small businesses that were previously excluded from the financial mainstream. The focus will be on creating technology that is both user-friendly and tailored to the needs of diverse groups.

2. Regulatory Frameworks and Collaboration

The event will also delve into the crucial role of regulatory frameworks in fostering innovation while safeguarding consumer interests. Saudi Arabia’s Vision 2030 emphasizes modernizing the financial sector, and Fintech 24 will serve as a platform for discussing how regulations can evolve to keep pace with technological advancements.

Expect discussions on finding the balance between encouraging innovation and ensuring financial stability, with a spotlight on the importance of collaboration between the public and private sectors to create a supportive regulatory environment.

3. Technology-Driven Solutions for Rural and Underserved Areas

A significant portion of Fintech 24 will be dedicated to addressing how fintech can meet the needs of rural and underserved communities. Presentations will highlight various initiatives designed to provide financial services in remote areas, ranging from digital banking solutions to blockchain-based remittance systems.

The event will emphasize designing technology that is accessible and adaptable to local contexts, including integrating local languages, offering offline functionalities, and forging partnerships with local organizations for successful implementation.

4. The Role of Data and Artificial Intelligence

Data analytics and artificial intelligence (AI) will be central topics at Fintech 24. Sessions will explore how these technologies can revolutionize financial decision-making, personalize services, and enhance risk management.

Expect to hear about how AI-driven tools are transforming credit scoring, fraud detection, and customer service. The discussions will also address the ethical considerations and privacy concerns associated with data usage, highlighting the need for transparent and secure practices to build consumer trust.

5. Empowering Women and Youth in Fintech

A notable aspect of Fintech 24 will be its focus on empowering women and youth within the fintech sector. Panels and workshops will address the importance of diversity and inclusion in driving innovation, showcasing initiatives aimed at increasing the participation of women and young entrepreneurs in fintech.

Noha Gad

Running any startup in this fast-paced and evolving business landscape presents a blend of exciting opportunities and unique challenges. In an ecosystem where technology evolves rapidly, startups must be resilient, adaptable, and forward-thinking to succeed, in addition to balancing innovation with business fundamentals.

Risk management is a crucial practice for any startup aiming to navigate the uncertain and volatile business environment; it helps startups identify risks that may arise from uncertainty about various aspects of the business and take steps to mitigate them.

Startups face a higher degree of uncertainty compared to established companies; hence, effective risk management is not just a defensive strategy for startups, it is a proactive measure that ensures the long-term viability of the business. In this blog, we will deep dive into risk management to know how important it is for startups’ success.

What is meant by risk management?

Risk management is the process of identifying, assessing, and controlling risks arising from operational activities and business processes. It aims to ensure that risks are minimized and controlled to an acceptable level.

Entrepreneurs have to identify the different risks that confront the startup and make an assessment of their importance to the startup’s specific situation.

Risk management lifecycle

The process of risk management includes five main steps:

1. Risk identification. In this step, startups must identify risks from the outset to prepare for potential challenges before they become critical issues. This proactive approach helps founders act quickly and effectively.
2. Risk analysis. This step targets evaluating the identified risks in terms of likelihood and impact to prioritize them. Entrepreneurs must perform qualitative and quantitative assessments; qualitative analysis ranks risks based on severity, while quantitative analysis uses numerical methods to estimate the probability and impact.
3. Risk mitigation planning. After understanding the risks that your startup might face, you must develop strategies to reduce or eliminate the impact of these risks. In this step, entrepreneurs create risk response plans, which involve several approaches, including changing plans to eliminate risks, implementing measures to reduce risks’ likelihood or impact, realizing the risk, and preparing contingency plans if the risk occurs. 
4. Risk management implementation. It is time to implement risk management plans after developing them. Implementing effective risk management plans can protect your startup from the potentially devastating effects of risk and ensure its long-term success.
5. Review and tracking. Entrepreneurs must regularly review the risk environment, track identified risks, and assess new risks that may emerge. They must update risk registers and adjust response plans as necessary, using various tools such as key risk indicators (KRIs) and dashboards.

Moreover, founders play a crucial role in setting the tone for proactive risk management within a startup. Their actions, attitudes, and decisions significantly influence the company’s approach to identifying and addressing risks. They must:

1. Cultivate a risk-aware culture
2. Integrate risk management into daily life
3. Invest in risk management training
4. Develop and communicate clear risk management plans
5. Enhance a proactive mindset 
6. Monitor and reflect on risk management practices

To wrap up, an effective and robust risk management strategy helps startups navigate uncertainties and positions them to explore and seize opportunities with confidence. Remember that the objective of setting up a risk management plan is not to eliminate risk, but to manage it effectively, ensuring that your startup remains resilient and poised for success.

Kholoud Hussein

Taly stands at the forefront of innovation with its extensive digital payment ecosystem, offering a diverse array of services designed to meet the evolving needs of merchants, consumers, and corporates.

In this exclusive interview with Magdy Hassan, CEO of Taly, we will delve into the company’s core services, including its omni-channel payment solutions and advanced features such as tokenization and remote payment gateways. We will also examine how Taly differentiates itself in the market through its robust infrastructure and commitment to security.

Furthermore, we will explore Taly's strategic vision for the future of digital payments, including their plans for expansion into the Middle East and their efforts to enhance financial inclusion in Egypt. This conversation promises to provide valuable insights into Taly’s role in shaping the future of digital transactions. 

Can you provide an overview of Taly's core digital payment services and how they differentiate you from other players in the market?

Taly is a top-tier provider of digital payment ecosystem that introduces omni-channel collection solutions, offers a robust ecosystem designed to serve various audiences, including merchants, banks, corporates, consumers, and fintechs. What sets Taly apart from other players in the market is its full-fledged digital payment ecosystem backed by one of the largest on-soil infrastructures in the MENA region. This ensures high availability and secure systems with minimal technical glitches.

Taly’s services include omni-channel payment acceptance, seamless e-commerce integration, and an array of value-added services like digital invoicing, and supply chain lending. Additionally, Taly offers innovative solutions such as tokenization, pay-by-link, remote payment gateways, and fully automated collection cycles, tailored to meet the diverse needs of its clients. This comprehensive approach to digital payments, combined with a strong commitment to security (evidenced by ISO/IEC 20000 and PCI certifications), positions Taly as a leader in driving digital transformation and fostering a cashless society.

What innovative features do Taly's digital payment solutions offer to merchants and consumers?

Taly offers a variety of innovative features designed to empower merchants, consumers, and Corporates. For merchants, Taly provides a digital omni-channel proposition that empowers merchants with one single App that allows instant monitoring of all acceptance channels, supporting all kinds of payment methods. 

Taly payment gateway is considered the country first on soil payment gateway that meets all global standards while fully integrated with the domestic payment schemes; Meeza Digital and the Instant Payment Network (IPN). This enables merchants to accept payments from all types of cards, wallets, and Payment applications. 

Moreover, Taly’s ecosystem is built to support merchants with several value-add services which became highly needed these days such as access to fund, integration with BNPL players, supplier payments. Our ecosystem also introduces cash with purchase, allowing customers to cash out money upon making purchases from merchants using our acceptance POS machines. 

A standout feature in Taly's offerings is the use of tokenization for cardless payments. Tokenization technology allows consumers to make secure and convenient payments by simply tapping their phones at POS terminals, eliminating the need for physical cards. Additionally, it further enhances security by replacing sensitive card information with a unique token, ensuring that actual card details are never exposed during transactions. This combination provides a seamless and secure payment experience for consumers and increase the consumer adoption of more cashless behaviors. It also gives merchants the ability to offer advanced payment options that cater to modern consumer preferences.

For consumers, Taly’s Super App delivers a one-stop-shop for digital payments, offering inflows and outflows management, e-wallets, bill payment, and a loyalty system that incentivizes activity. The app is designed for ease of use and provides consumers with the peace of mind that comes from managing their financial transactions digitally without the need for physical cash. Taly’s approach not only simplifies transactions but also enhances financial control and security for both merchants and consumers.

For Corporate, Taly’s Corporate Portal is the first of its kind that empowers Corporates ,for first time, to manage directly their employees cards, manage the company expense via the unique features developed by Taly that enables  the Corporate to control the spend of their staff instantly wherever and whenever the company wants them to transact where both the company’s employee has a mobile App to manage and control their cards, while the company has Taly portal to control and manage the transactions instantly. The solution provides corporates with an answer of many business challenges such as controlling the fleet system, manage petty cash, and control T&E expenses. Moreover, Taly provides corporate with creative ways to fund their expense via banking facilities and empower the corporate with effective dashboard and analytical tools. 

How do you foresee the digital payment landscape evolving in the next few years, and how is Taly preparing for these changes? Are there any plans to introduce new services or products in the near future? If so, can you share any details?

The digital payment landscape is poised for significant growth and innovation, with a strong shift towards more integrated and seamless financial ecosystems. Technologies such as tokenization, advanced payment gateways, integrated lending solutions, and innovative corporate payment solution are expected to become increasingly prevalent. Taly is at the forefront of these changes, having already introduced many of these solutions in the Egyptian market.

Looking ahead, Taly is preparing by continuously enhancing its infrastructure and expanding its ecosystem, the company is also focused on fostering collaboration across the financial sector, enabling banks, fintechs, and corporates to innovate and thrive within a connected digital framework. This proactive approach ensures that Taly will remain a key player in the ongoing digital transformation, driving the adoption of cashless payments and supporting the broader financial ecosystem. Taly designed and built its ecosystem with a futuristic vision that can serve upcoming trends such as digital banking, and open banking.

In what ways have you seen the Egyptian market respond to digital payment solutions, and what opportunities do you identify there?

The Egyptian market has shown a positive response to digital payment solutions, with increasing adoption among businesses and consumers alike. Taly has identified significant opportunities in this landscape, particularly in the areas of e-commerce, fintech innovation, corporate digitalization. The market is moving towards more integrated financial systems, and Taly is well-positioned to lead this shift by offering secure and innovative digital payment and collection solutions.

Opportunities in Egypt include the growing demand for BNPL (Buy Now, Pay Later) services, e-commerce payment gateways, and digital invoicing systems. Taly’s ability to provide a seamless digital ecosystem, supported by robust infrastructure and security, allows it to capitalize on these trends. As digital payments become more ingrained in everyday life, Taly’s comprehensive offerings will continue to meet the evolving needs of the market.

How does Taly plan to enhance financial inclusion through its services in the Egyptian market?

Taly is deeply committed to enhancing financial inclusion in Egypt by providing accessible and innovative digital payment solutions that cater to a wide range of stakeholders, including underserved populations and small businesses. 

A key aspect of this mission is Taly’s role in empowering fintech startups. By leveraging Taly’s robust digital infrastructure—one of the largest in the MENA region—these startups can transform their innovative ideas into fully operational and commercially viable financial products. This not only accelerates the growth of the fintech sector but also ensures that a broader array of financial services and products becomes available throughout Egypt, reaching even the most underserved areas. Taly is already in collaboration with several fintechs and BNPL players to be integrated with our ecosystem and empower them with Taly payment capabilities. 

In addition to empowering fintech startups, Taly is addressing the significant gap in cash usage, particularly among merchants. Many merchants in Egypt still rely heavily on cash transactions due to concerns about the complexity and security of digital payment solutions. Taly aims to bridge this gap by offering a more convenient, secure, and user-friendly financial digital experience.

Taly helps merchants streamline their financial interactions with suppliers and vendors by enabling instant payment and collection of invoices through a digital account, which is also linked to a prepaid card. This setup helps merchants keep their capital and liquidity in check, ensuring that their financial operations are smooth and efficient. Moreover, Taly offers flexible digital lending programs to finance merchants' working capital, increasing their purchasing power and enabling them to settle suppliers' invoices promptly.

By attracting more merchants to embrace digital financial technology, Taly is enhancing its business operations while contributing to the broader goal of reducing cash dependency in the Egyptian economy. This, in turn, helps integrate more businesses and consumers into the formal financial system, fostering a more inclusive and digitally empowered marketplace in Egypt.

Moreover, Taly offers consumers with a revamped wallet solution bundled with Tokenization features that would give an effective entry products to the youth segments, new to banks, and underserved consumers. Taly revamped wallet offers consumers the same privileges of full- fledged banks including e-purchase, e-commerce, transfers, bill Payments, and robust digital cash-in and cash-out options via a one-stop-shop digital App, offering highly secured payment with advanced consumer digital experience. Taly solution for this segment is a true example of bridging the gap between banked and new-to-bank consumers. 

How do you envision Taly's role in the future of digital payments in the Middle East, particularly in Saudi Arabia and the wider GCC region? What are your expansion plans for these markets, and how will you tailor your offerings to meet the unique needs of consumers and businesses while enhancing customer experience in the region?

Egypt is at the heart of Taly's growth strategy, where we are fine-tuning our digital payment ecosystem to address the vastly diverse needs of the market. Our immediate priority is ensuring that the model is not only functional and successful but also optimized for scalability. By focusing on Egypt, we are building a strong foundation that can later be expanded into the broader Middle East.

Many GCC and Africa markets share similar needs in areas such as digital bank enablement, tokenization, and supply chain lending which offer a natural pathway for expansion. Once we establish a strong foothold in Egypt, our experience will allow us to scale effectively into these regions. These markets are also transitioning toward cashless economies.

By leveraging the lessons learned and infrastructure developed in Egypt, we can tailor our offerings to the specific needs of wider GCC and Africa markets, empowering stakeholders with the same level of digital bank enablement and advanced tokenization technologies that we’ve pioneered in our home market. The focus now remains on perfecting the model in Egypt, so it is ready for broader application and growth across the Middle East.

Kholoud Hussein 

In the fast-paced world of startups, the concept of a Minimum Viable Product (MVP) has become a cornerstone of agile development and lean startup methodologies. The ultimate goal of an MVP is to streamline the process of bringing a new product to market, validate ideas quickly, and optimize based on real user feedback. Here’s a detailed look at the MVP creation process and why it’s indispensable for startup success.

1. Define Your Core Problem and Solution

The first step in creating an MVP is to clearly define the core problem your product aims to solve. Start by conducting market research to understand the pain points and needs of your target audience. This insight will guide you in pinpointing the most critical features that your product must have to address these issues effectively. Focus on solving the primary problem with a streamlined solution.

2. Identify Essential Features

Once you have a clear understanding of the problem, outline the essential features that are necessary to deliver the core value of your product. Avoid the temptation to include additional functionalities that might seem attractive but are not crucial for solving the main problem. The MVP should contain just enough features to provide value and satisfy early adopters, enabling you to test your hypotheses with minimal investment.

3. Develop the MVP

With your list of essential features in hand, begin the development process. The goal here is to build a functional product that represents your concept but is not yet fully polished. Use agile development practices to create the MVP efficiently, ensuring that it’s stable and performs its core functions effectively. Focus on speed and simplicity, avoiding extensive customization or complex features.

4. Launch and Gather Feedback

Release your MVP to a small, targeted group of users who fit your ideal customer profile. This early launch is crucial for gathering feedback on how well your product addresses the core problem. Encourage users to provide honest feedback and closely monitor their interactions with the product. This real-world data will be invaluable in identifying strengths, weaknesses, and areas for improvement.

5. Analyze and Iterate

Based on the feedback received, analyze what worked and what didn’t. Look for patterns and insights that can inform your next steps. Iteration is a key component of the MVP approach—use the feedback to make necessary adjustments, improve features, and enhance user experience. This iterative process helps in refining the product while avoiding unnecessary investments in unvalidated features.

6. Plan for Scaling

Once you’ve iterated based on initial feedback and achieved a satisfactory product-market fit, start planning for scaling. This involves expanding your user base, adding more features, and refining the product based on broader market needs. Ensure that the improvements align with the original problem your product aims to solve and continue to gather user feedback as you scale.

Why MVPs Are Essential for Startups

The MVP approach is essential for startups because it allows for rapid testing of ideas with minimal risk. By focusing on a core set of features and using real user feedback to guide development, startups can avoid costly mistakes and refine their product efficiently. This method not only conserves resources but also helps in building a product that truly meets market needs, ultimately increasing the chances of success.

In summary, building an MVP is about balancing speed with functionality, focusing on solving a core problem, and using user feedback to drive development. For startups, it’s the ultimate strategy for validating ideas, optimizing resources, and navigating the path toward a successful and scalable product.

Kholoud Hussein 

Startup life is a rollercoaster ride filled with highs and lows, uncertainty, and excitement. Entrepreneurs often begin their journey with high hopes and ambitious visions, only to be faced with numerous challenges. The concept of the J-Curve is a valuable framework that illustrates the common trajectory of many startups and helps founders understand the dynamics of growth in their businesses. In this blog, we will delve into the Startup J-Curve, its significance, and how entrepreneurs can navigate their paths to success.

What is the Startup J-Curve?

The Startup J-Curve is a graphical representation of the typical growth trajectory of a startup over time. Named for its characteristic “J” shape, the curve illustrates that while a startup may initially experience setbacks, failures, or stagnation, it eventually experiences significant growth and success.

• The Initial Decline: In the early stages, startups often face various challenges, which can lead to a decline in key metrics like revenue, user acquisition, or overall momentum. This stage can be discouraging for founders as they pour their resources, time, and effort into their idea, only to see little immediate return.
• The Turning Point: After a period of struggle, which can vary in length, the startup begins to refine its approach, pivot its strategy, or improve its product based on feedback and market demands. This turning point is crucial, representing a shift from decline to growth.
• The Growth Phase: Once the turning point is reached, the startup can experience rapid growth, often exceeding expectations. This phase can lead to increased revenue, customer base expansion, and market share growth. In this phase, the startup truly starts to realize its potential.

Stages of the Startup J-Curve

1. Conceptualization and Launch
2. Initial Setbacks
3. Adaptation and Learning
4. Tipping Point
5. Rapid Growth and Scaling
6. Sustaining Growth

Why is the Startup J-Curve Important?

1. Realistic Expectations
2. Strategic Decision Making
3. Encouraging Persistence
4. Investor Perspective

How to Navigate the Startup J-Curve Successfully

1. Embrace Failure and Learn
2. Stay Agile
3. Focus on Customer Feedback
4. Build a Strong Team
5. Manage Resources Wisely

To wrap up, the Startup J-Curve is a valuable framework that helps entrepreneurs understand the typical trajectory of their ventures. By acknowledging the potential for initial setbacks and focusing on adaptation and resilience, founders can navigate their way toward growth and success. Embracing this framework helps set realistic expectations and nurtures a mindset of persistence, learning, and innovation.

As you embark on your startup journey, remember to stay committed through the ups and downs. The J-Curve is not just a graphical representation; it’s a reminder that every successful startup has faced challenges before experiencing the joys of growth. Embrace the journey, learn from every step, and keep pushing forward toward success!

Kholoud Hussein 

With a passion for empowering entrepreneurs and fostering digital growth, Selina Bieber, Vice President for International Markets at GoDaddy, leads GoDaddy's initiatives to support small businesses in their journey toward online success. 

In an exclusive interview with Sharikat Mubasher, Bieber will delve into how GoDaddy transforms digital dreams into reality for entrepreneurs around the globe, particularly in Saudi Arabia. As a frontrunner in the digital solutions market, GoDaddy offers a comprehensive toolkit that enables small and medium-sized enterprises (SMEs) to establish and grow their online presence. 

We will explore the unique challenges faced by entrepreneurs in the region, how GoDaddy is addressing them through innovative solutions and partnerships, and the company's commitment to leveraging emerging technologies like AI and cloud computing to enhance the entrepreneurial experience. 

Can you tell us about GoDaddy's main business and how it helps entrepreneurs?

At GoDaddy, we're in the business of turning digital dreams into reality. Our focus is providing a complete toolkit for businesses to thrive online. This includes everything from securing the perfect domain name – think of it as your digital address – to building beautiful, functional websites that truly represent your brand.

But we don't stop there. We also offer hosting and security solutions to help keep your website running smoothly, professional email services to give your business that extra touch of credibility, and a range of digital marketing tools to help you reach your audience effectively.

For our Saudi entrepreneurs, whether you're a small bakery in Al-Khobar looking to take orders online, a boutique in Riyadh aiming to showcase your latest fashion, or a tech startup in Jeddah ready to make waves, we've got solutions tailored for you. Our goal is to simplify the online journey, making it accessible and manageable for small businesses without the need for advanced technical abilities. With small and medium businesses (SMEs) accounting for 99.41% of the private sector in Saudi Arabia and contributing significantly to the economy, we understand the crucial role they play and are dedicated to supporting their growth.

What makes GoDaddy stand out from other companies in your field?

What we believe truly sets GoDaddy apart is our commitment to our customers' success. We don't just sell products; we build relationships and partnerships with our customers. This commitment manifests in several ways that make us unique in the industry.

We pride ourselves on our localized approach. For instance, our Arabic Website Builder is a testament to our commitment to the Middle Eastern market. It's designed with the nuances of the Arabic language and culture in mind, ensuring that local businesses can create websites that truly resonate with their audience.

We also go beyond just providing online tools – we're committed to education and empowerment. Our extensive library of resources, tutorials, and webinars is designed to help entrepreneurs at every stage of their online journey. Whether you're just starting out and need to understand the basics of online presence, or you're looking to scale your e-commerce operations, GoDaddy has the knowledge and resources to guide you, along the way. Our recent surveys show that 87% of Saudi small business owners believe digitization is crucial, and we are here to help facilitate that transformation.

How is GoDaddy supporting growth in Saudi Arabia?

The Kingdom's Vision 2030 has set an inspiring roadmap for digital transformation. One of our key initiatives in the region is our partnership with Monsha'at Academy. Through this collaboration, we're offering specialized digital skills training tailored to the needs of Saudi entrepreneurs. These courses cover everything from the basics of establishing an online presence to advanced e-commerce strategies.

Our Arabic Website Builder, as mentioned above, is another significant way we're supporting growth in Saudi Arabia. We understand that language plays a crucial role in effective online communication. That's why we've launched this tool specifically for the Arabic-speaking market. It allows businesses to create professional, culturally relevant websites easily, helping them connect more effectively with their local audience.

Our 2024 Global Entrepreneurship Survey revealed that 93% of Saudi entrepreneurs feel confident in using AI technology for their business, and 87% acknowledge the importance of digitization. These findings inform our strategy as we continue to enhance our product offerings to meet the evolving needs of Saudi businesses.

How does GoDaddy keep up with the fast-changing digital world?

Staying ahead in the rapidly evolving digital landscape is a challenge we embrace with enthusiasm at GoDaddy. Our approach to innovation is multi-faceted and deeply rooted in understanding both technological advancements and our customers' evolving needs.

A great example of how we're embracing new technologies is our integration of AI into our products. We've recently introduced AI-powered tools like our Generative AI Prompt Library, which helps small businesses create engaging content for their websites and social media platforms. This tool is helpful for entrepreneurs who might not have the time or resources for extensive content creation. According to our survey, 97% of small businesses in Saudi Arabia believe AI can positively impact their bottom line, and we're providing the tools to make that belief a reality.

We're also evolving our website-building tools to incorporate the latest design trends and functionalities. For instance, we're adding new templates and features that allow businesses to create mobile-responsive, visually appealing websites that meet current user expectations. Using tools like GoDaddy Studio, powered by AI, easily creates content that elevates and helps small businesses sell their brand on social media and across their online presence.

Can you share any recent partnerships or investments GoDaddy has made in Saudi Arabia?

Our initiatives in Saudi Arabia reflect our commitment to the Kingdom's entrepreneurial ecosystem and our belief in the immense potential of Saudi small business owners.

Our partnership with Monsha'at Academy stands out as a significant milestone. This collaboration is all about empowering Saudi entrepreneurs with the digital skills to help them succeed in today's economy. Through this partnership, we're offering specialized courses that cover a wide range of topics, from the basics of website creation to advanced e-commerce strategies. These courses are tailored to the unique needs of the Saudi market, considering local business practices, consumer behaviors, and cultural nuances.

Our participation in local events and initiatives is another form of investment we're making in Saudi Arabia. For example, our involvement in Biban 23, one of the largest entrepreneurship events in the Kingdom, allowed us to connect directly with Saudi entrepreneurs, understand their needs, and showcase how our solutions can help support their growth.

What challenges does GoDaddy face in Saudi Arabia, and how are you addressing them?

Like any market, Saudi Arabia presents its own unique set of challenges, but we see these as opportunities to innovate and better serve our customers. One of the primary challenges we face is raising awareness about the importance of a strong online presence, especially among small and medium-sized enterprises (SMEs). Many business owners in Saudi Arabia are experts in their fields but may not fully grasp the potential impact digital tools can have on their growth. That is why we launched our extensive educational initiatives in partnership with Monsha'at Academy. In addition to the courses that explain the benefits of going digital in practical, relatable terms, we also produce localized content – blog posts, webinars, and social media campaigns – that showcase success stories of Saudi businesses that have thrived online to help inspire others.

Another challenge is the varying levels of digital literacy among entrepreneurs. To tackle this, we've focused on making our products as user-friendly as possible. Our Arabic Website Builder, for instance, was designed with an intuitive interface that allows even those with limited technical skills to create professional-looking websites. We also offer extensive customer support in Arabic language, ensuring that help is available when needed.

These challenges are not roadblocks, but we see these as stepping stones in our journey to empower Saudi entrepreneurs. By addressing them head-on, we're not only improving our services but also contributing to the overall growth of the digital ecosystem in Saudi Arabia.

How is GoDaddy using new technologies like AI and cloud computing?

At GoDaddy, we're always excited about leveraging new technologies to help enhance our offerings and make life easier for our customers. AI and cloud computing are two areas where we're making significant strides.

We've recently introduced several AI-powered tools that are transforming how small businesses manage their online presence. One of our most exciting innovations is the Generative AI Prompt Library. This tool helps entrepreneurs create engaging content for their websites and social media platforms quickly and easily. It's particularly useful for business owners who may not have the time or resources for extensive content creation. By simply inputting a few key details about their business, they can generate professional, relevant content that resonates with their audience.

GoDaddy is also using AI to enhance our customer service. Our AI-powered chatbots can handle basic queries and guide customers to the right resources, allowing our human support team to focus on more complex issues. This results in faster response times and more efficient problem-solving for our customers.

Moving on to cloud computing, this technology is at the core of our hosting services. We leverage cloud infrastructure to provide scalable, reliable hosting solutions that can grow with our customers' businesses. This means that whether you're a small startup or a rapidly expanding enterprise, our cloud-based hosting can accommodate your needs without interruption.

In the realm of e-commerce, our cloud-based solutions enable businesses to handle large volumes of transactions securely and efficiently, even during peak shopping periods. This scalability is crucial for businesses participating in major shopping events or experiencing rapid growth.

Security is another area where we're leveraging both AI and cloud computing. We use AI algorithms to help detect and deter security threats in real-time, while our cloud infrastructure allows us to implement robust security measures across our entire network.

What recent projects has GoDaddy launched in Saudi Arabia?

Entrepreneurs can utilize our Arabic Website Builder which includes more locally relevant templates, featuring designs that resonate with Saudi consumers and support local aesthetic preferences. We've also improved the Arabic content creation features, making it even easier for businesses to create engaging, SEO-friendly content in Arabic.

In response to the growing e-commerce sector in Saudi Arabia, we've launched a series of e-commerce workshops. These hands-on sessions guide entrepreneurs through the process of setting up an online store, managing inventory, processing payments, and marketing their products effectively. We've seen great enthusiasm for these workshops, especially from traditional retailers looking to expand into the digital space.

GoDaddy has also participated in key entrepreneurship events across the Kingdom, including Biban 23 which has allowed us to engage directly with the Saudi business community, understand their needs firsthand, and showcase how our tools and solutions can support their growth. 

How does GoDaddy approach social responsibility in Saudi Arabia?

At GoDaddy, our approach to social responsibility in Saudi Arabia focuses on empowering local communities through education and entrepreneurship. This commitment is closely aligned with the Kingdom's Vision 2030 goals, particularly in fostering digital transformation and supporting SMEs.

One of our key initiatives is our partnership with Monsha'at Academy, where we offer free digital skills training to aspiring entrepreneurs across the Kingdom. These courses cover a wide range of topics, from basic digital literacy to advanced online business strategies, helping individuals start and grow their businesses.

What's GoDaddy's long-term vision for Saudi Arabia and the Middle East?

GoDaddy supports local entrepreneurs and small business owners in Saudi Arabia and the Middle East. We aim to be more than just a service provider – we want to be a trusted partner in every entrepreneur's journey, from the moment they conceive their business idea to when they're ready to scale globally.

GoDaddy continues to offer easy to use and affordable online tools and solutions, along with expert customer care and guidance, to help Saudi entrepreneurs and small business owners across the region, along their journey of business growth.  

Ghada Ismail

If you have a new product or service that you want to roll out and create a big buzz around that lasts for quite a long time, you have to consider preparing an impactful marketing strategy that makes your product stand out among competitors. A strategy acts as your own roadmap that navigates your road trip and gets you to achieve your business objectives. 

Why do you need a creative marketing strategy?

You need to communicate with your audience in a way that creates a bond between both of you and thus build the customer loyalty, a unique identity through which you can pass your messages that makes a client mentally and emotionally attached to a certain business, that emotional connection can really transform the occasional buyer into a loyal brand advocate and this is what we call in business a brand retention. 

Moreover, a marketing strategy shall create an invisible podium for you to speak up to your audience in our digital era where smartphones prevail within almost everybody’s reach for being easier to access, more convenient to hold anywhere bringing exposure to hundreds, if not thousands, of ads and other media. 

Having a creative strategy in mind can let you be exposed to a wide range of opportunities that may have otherwise gone unnoticed. This allows you to maximize the potential for success and make the most out of every situation. 

Additionally, your creative strategy makes you fully aware of both internal and external factors that can lead the way to the success of your project or campaign. By understanding these factors, you can leverage them for your own good, making sure your efforts are put in the right place.

How to create your own strategy?

It’s crucial that you break down the whole process into steps so that you ensure that each step effectively contributes to the final product that aligns with your long-term vision. 

• Set your business goals: before thinking of crafting a marketing strategy, it’s a key step to identify with your business goals as an outline to tailor your strategy in its guidance. By means of brainstorming with all the involved parties, you can make sure that your strategy perfectly aligns with your business goals and objectives.
• Define target audience: when you define whom you are targeting, you are already halfway down. Every audience segment, based on social class, age group, or background has its own targeting as you cannot address teenagers the way you do for grownups and the same goes for different social classes. The moment you have defined your audience, you can go beyond superficial demographics and dive into their interests, needs, and preferences and this makes you truly able to speak to them.
• Be aware of your position in the market: it’s crucial that you conduct a situational analysis that shows you where do your business stands and what are your strength points that you have to elaborate and the weakness points that you have to work on. Upon doing this, you can stand on the elements that should be covered in your marketing strategy.
• Create your message and choose the perfect channels to transmit it: now it’s time to formulate the message you want to deliver to your audience based on all the aforementioned factors and choose the perfect channel where this message can be transmitted and be welcomed and well-received by the target audience whether on TV, Radio, website, or means of social media. 
• Put a clear timeline and budget: whenever you’re ready with your perfectly customized strategy, it’s time now to schedule each and every step to fall in place in the right time and within the planned budget, as you don’t want to fall into the trap of over-budgeting. It’s crucial to allocate a particular budget to each item and stick to it as much as possible, so that you can achieve the utmost profit out of it. 

Now that we have all come to realize that crafting a creative strategy isn’t just about thinking outside the box; it’s about redefining the box itself depending on the business needs, as each business has its very unique characteristics, we can safely say that it is a dynamic blend of insight, innovation, and execution that propels brands to not just exist in the market but to thrive and resonate with their audience. 

Kholoud Hussein 

As an entrepreneur, the path to success is often paved with long hours, relentless dedication, and the constant juggling of various responsibilities. While the passion and zeal for building a business are commendable, neglecting the balance between work and life can lead to burnout, decreased productivity, and strained personal relationships. 

Understanding the importance of work-life balance and implementing effective strategies is crucial for sustainable success and personal well-being. In this blog, we will explore the significance of work-life balance for entrepreneurs and share actionable tips to help you achieve it.

Understanding the Importance of Work-Life Balance

1. Prevention of Burnout
2. Improved Productivity
3. Stronger Relationships
4. Enhanced Mental and Physical Health
5. Sustainable Growth

Strategies for Achieving Work-Life Balance

1. Set Clear Boundaries
2. Prioritize Tasks
3. Embrace the Power of Saying No
4. Schedule Downtime
5. Utilize Technology Wisely
6. Practice Mindfulness and Stress Management
7. Establish a Support Network
8. Set Realistic Goals
9. Flexibility is Key
10. Never Underestimate Self-Care

Finally, achieving work-life balance as an entrepreneur is undoubtedly challenging, but it is essential for your well-being and business success. You can create a sustainable approach that fosters personal and professional growth by setting clear boundaries, prioritizing tasks, embracing flexibility, and remembering to prioritize self-care. 

Ultimately, a well-balanced entrepreneur is more productive, creative, and resilient in facing challenges. By consciously working toward this balance, you can cultivate a successful business without sacrificing your personal happiness or health. Remember, it’s not just about building a business; it’s about creating a life you love. Embrace the journey, prioritize balance, and watch both your personal and professional worlds thrive!

Kholoud Hussein 

Starting a business is an exhilarating yet daunting challenge. For many entrepreneurs, the journey from innovative ideas to successful startups can be fraught with obstacles, uncertainty, and, at times, overwhelming self-doubt. This is where mentorship plays a pivotal role. A good mentor can guide, support, and help propel a startup toward success. In this blog, we will explore the invaluable role mentorship plays in the startup ecosystem and how entrepreneurs can leverage it to enhance their journey.

What is Mentorship?

Mentorship involves a relationship where a more experienced or knowledgeable individual (the mentor) provides guidance, advice, and support to another person (the mentee) in a specific field, often professional or academic. In the context of startups, mentors can range from industry veterans, to successful entrepreneurs, or even investors, all of whom bring a wealth of experience that can be crucial for new business owners.

The Benefits of Mentorship for Startups

• Expert Insights and Knowledge Sharing

Startups often face unique challenges that require specialized knowledge. A mentor can offer insights that come from their experiences, including what worked, what didn’t, and why. This guidance can help startups avoid common pitfalls and make informed decisions. Mentorship can accelerate the learning curve, enabling entrepreneurs to tap into a wealth of knowledge that would otherwise take years to accumulate.

• Networking Opportunities

Mentors often have extensive networks and can introduce mentees to potential partners, customers, or investors. Building these connections is essential for startups, as networking can lead to business opportunities, strategic partnerships, or funding. A mentor can act as a bridge, opening doors that might be otherwise inaccessible.

• Emotional Support and Confidence Building

The entrepreneurial journey is often filled with uncertainty and self-doubt. Having a mentor can provide critical emotional support during challenging times. They can offer encouragement, share their own struggles, and help the mentee maintain perspective. This emotional support can foster resilience, helping entrepreneurs stay motivated and focused on their goals.

• Accountability and Goal Setting

Mentors can help mentees set realistic and achievable goals and hold them accountable for reaching those goals. This structure can be invaluable for startup founders who may struggle with prioritization or staying disciplined amidst the chaos of starting a business. Regular check-ins with a mentor can help ensure that progress is being made and that the entrepreneur remains committed to their vision.

• Feedback and Constructive Criticism

Constructive feedback is vital for growth. A mentor can provide honest, unbiased input on business ideas, strategies, and product offerings. This feedback can be essential for refining the business model, improving products or services, and addressing any weaknesses before they become bigger issues.

How to Find the Right Mentor

• Define Your Needs

Before seeking a mentor, identify what you hope to gain from a mentorship relationship. Are you looking for industry-specific advice, help with funding, or support in marketing? Having a clear understanding of your needs will guide you in finding the right mentor.

• Look Within Your Network

Start by exploring your existing network. You may find potential mentors among former colleagues, professors, or industry contacts. Don’t hesitate to reach out, as many seasoned professionals are willing to share their knowledge.

• Join Startup Communities

Engage with local startup incubators, accelerators, or entrepreneurship groups. These communities often have structured mentoring programs that can connect you with experienced professionals eager to help aspiring entrepreneurs.

• Utilize Online Platforms

Several online platforms focus on connecting mentors and mentees, such as LinkedIn, SCORE, or MicroMentor. Utilize these resources to find mentors who align with your goals and interests.

• Be Respectful of Their Time

Remember that mentors are often busy individuals. Be concise, respectful, and clear about what you hope to learn when reaching out. A well-prepared approach can make a significant difference in their willingness to engage.

In conclusion, mentorship can be a game-changer in a fast-paced and ever-changing startup environment. The guidance, support, and knowledge that a mentor offers can significantly impact an entrepreneur's journey. By leveraging the experience of others, startups can navigate challenges more effectively, make informed decisions, and ultimately increase their chances of success. 

Whether you are a burgeoning entrepreneur or an established business owner, seeking mentorship is an investment in your future. The benefits of mentorship go beyond simple advice; they create a supportive environment where ideas can flourish, and dreams can be turned into reality. Embrace mentorship, and let it guide you on your journey to success!

Finding the right service provider for your project is crucial for its success. This guide empowers you to leverage Sharikat Mubasher's platform to identify qualified service providers who perfectly match your needs.

Utilizing Search Filters: 

• Skills & Expertise: Use filters to search for service providers with the specific skills and expertise required for your project.
• Experience Level: Filter providers based on their experience level, whether you need a seasoned expert or someone with a fresh perspective.
• Industry Specificity: Narrow down your search by industry to find providers who have relevant experience in your field. 

Reviewing Service Provider Profiles:

• Profile Overview: Look at the provider’s bio, headline, and summary to get an initial sense of their background and focus areas.
• Experience & Skills: Review the detailed descriptions of their past projects and skills. Look for quantifiable achievements and relevant case studies.
• Client Reviews: Read reviews and testimonials from previous clients to gauge the provider’s reliability, quality of work, and communication skills.

Assessing Past Work:

• Portfolio Analysis: Examine the provider’s portfolio to see examples of their previous work. Look for diversity in their projects and the quality of deliverables.
• Success Metrics: Look for specific metrics or outcomes achieved in past projects, such as increased sales, improved efficiency, or successful product launches.
• Client Satisfaction: Pay attention to feedback and case studies that highlight client satisfaction and the provider’s ability to meet or exceed expectations.

On Sharikat Mubasher, your reputation matters! This guide equips you with strategies to exceed client expectations, build long-term relationships, and secure repeat business.

Here's what you'll learn:

 1. Communication is Key: 

• Regular Updates: Maintain clear and consistent communication throughout the project lifecycle. Provide regular updates on progress, and keep the client informed about any potential issues or delays. 
• Active Listening: Pay attention to the client’s feedback and concerns. Show that you value their input by responding promptly and making necessary adjustments. 
• Professional Tone: Use a professional and courteous tone in all communications. This helps build trust and shows respect for the client.

 2. Proactive Client Service:

• Anticipating Needs: Go beyond the basic requirements of the project. Anticipate the client’s needs and offer proactive solutions to potential problems.
• Exceeding Expectations: Strive to deliver high-quality work that exceeds the client’s expectations. Look for opportunities to add value and enhance the project’s outcomes.
• Client Follow-Up: After project completion, follow up with the client to ensure they are satisfied with the results. Address any lingering concerns and express your willingness to assist with future projects. 

3. Positive Reviews & Testimonials:

• Requesting Feedback: Encourage satisfied clients to leave positive reviews on your Sharikat Mubasher profile. Make it easy for them by providing clear instructions on how to leave a review.
• Showcasing Success: Highlight positive reviews and testimonials on your profile and in your proposals. Use these as social proofs to build trust with potential clients.
• Continuous Improvement: Use client feedback to identify areas for improvement. Show that you are committed to continuously enhancing your services and client satisfaction.