Last fall, we welcomed a kitten into our home and over the past few months, we’ve been trying to get to know each other. I have to admit that it was not easy as communication was difficult and so was reinforcing the right behaviour. However, despite all the challenges, our overall experience has been positive.
There have been many studies on how pets can calm us; good news for stressed out entrepreneurs. A 2019 Washington State University study on students revealed how 10 minutes of interaction with cats and dogs can help significantly reduce their stress levels.
Welcoming a cat into our home has certainty been a morale booster in a very challenging year but it also reminds me of some important lessons that are applicable to the business world.
Sometimes you can’t control everything
Our cat is very playful but at times it does not want to engage, no matter how many treats or toys we have in hand. In business, you may be ready and everything is set, but your client is not, or the economic situation suddenly takes a turn for worse. Anything is possible and last year has proven it well. This is where resourcefulness and creativity are important. How can you make the situation better? How could you inspire your clients to change their minds. How can you come up with another solution that is a win-win for you and your customers?
Communication is the key
In the beginning we did not quite understood what our cat wanted and it did not understand us either. When working with a new client, keep in mind that communication is instrumental in order to develop a strong business relation. Dedicate time to understand your client’s needs, and ensure that they are aware of your terms and conditions. Once everything is clear, it will be a smooth ride for both of you. One of my acquaintance, who works as an interior design didn’t set clear terms and conditions in the beginning on how many revisions she could make on a design, or set office hours. It troubled her but once she sorted it out and communicated it clearly, she enjoyed her work more, and her clients understood where they stood.
Everyone loves treats
Our cat loves treats, but then who doesn't? Always remember to reward your team on a job well done, as well as your clients. Your reward system doesn’t necessarily always need to be expensive. You can treat your team members to a lunch or movie tickets. You can do the same with your clients. Offer them exclusive discounts and promotions, access to behind the scenes, a day spent in your factory or workshop, or samples of your new products.
You will mess up and that’s okay
We didn’t always get it right in the beginning when training our cat. You are most likely to mess up in your entrepreneurial journey too. Perhaps you wouldn’t know where to cut costs, how to best market your business, or understand your customers’ needs. But don’t beat yourself up for it. In the beginning of my career, I used to always blame myself for getting things wrong. There are some things we wouldn’t know and that’s okay. Constantly read, educate yourself and surround yourself with a support group of other entrepreneurs who could help you and steer you in the right direction.
Success takes time
If you see us now, you would be surprised at how our cat gets along with everyone. But the progress people see now took time and dedication. The same thing applies to business. Many of us are guilty of believing that success can happen overnight, but it is just the opposite. Success is often the result of perseverance, dedication and patience. Give it time and enough efforts and you will eventually achieve your goals.
Caring for a pet is just like managing a business. It requires patience and accepting the fact that we can’t always control everything.
Manar Al Hinai is an award-winning Emirati journalist and entrepreneur, who manages her marketing and communications company in Abu Dhabi.
COMPANY%20PROFILE
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HEADLINE HERE
- I would recommend writing out the text in the body
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
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FIGHT INFO
Men’s 60kg Round 1:
Ahmad Shuja Jamal (AFG) beat Krisada Takhiankliang (THA) - points
Hyan Aljmyah (SYR) beat Akram Alyminee (YEM) - retired Round 1
Ibrahim Bilal (UAE) beat Bhanu Pratap Pandit (IND) - TKO Round 1
Men’s 71kg Round 1:
Seyed Kaveh Soleyman (IRI) beat Abedel Rahman (JOR) - RSC round 3.
Amine Al Moatassime (UAE) walk over Ritiz Puri (NEP)
The%20stats%20and%20facts
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The five pillars of Islam
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League quarter-final second leg:
Juventus 1 Ajax 2
Ajax advance 3-2 on aggregate
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
ON%20TRACK
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RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
UAE currency: the story behind the money in your pockets
Zayed Sustainability Prize
A German university was a good fit for the family budget
Annual fees for the Technical University of Munich - £600
Shared rental accommodation per month depending on the location ranges between £200-600
The family had budgeted for food, books, travel, living expenses - £20,000 annually
Overall costs in Germany are lower than the family estimated
As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640
Students are permitted to withdraw £720 per month