Manar Al Hinai: Plan ahead – and well beyond that

Launching a business is like getting married. Don't just prepare for the big day, instead carefully consider how you will sustain your enterprise over the long term.

I recently attended one of the most beautiful wedding parties I have ever been to in my life. Months of preparation had been invested towards the big night. The wedding invitations were carefully designed by a talented graphic designer, the flowers ordered from abroad and the menu featured almost every cuisine you could think of – from traditional local food to gourmet sushi.

Performers were flown in from neighbouring GCC countries to entertain the guests and for the night owls, who danced until the early hours, breakfast was served after 2am. In the run-up to the wedding, the bride herself spent a couple of months in New York with her gown’s designers, going over and over the design of the dress, from its train to the veil and the delicate details.

The bride probably spent more time preparing for the wedding than planning the next stage of her life. But two months after the lavish occasion, the couple filed for divorce, stating they were not compatible. The time spent preparing for the wedding, was longer than the marriage itself.

Just like marriage, running a business and sustaining it is more important than actually launching the venture. In the long run, planning a wedding is an easier task than building a strong marriage. Similarly, in business setting up is relatively easy compared to sustaining your new venture, developing it and growing it. This is probably why I have seen numerous start-ups not make it past the three-year mark.

I met an acquaintance the other day who just six months after launching the design studio she was so passionate about is now considering closing the business at the end of the year. She’d finally realised all about the expense of hiring staff and the high cost of renting an office in a prime location. The thing is, she’d been so excited in the launch phase that she hired left and right without a proper plan. After discussions with her social circle, she agreed not to quit but instead to downsize her expenses by firstly relocating to a cheaper location.

In the beginning we can all be tempted to focus on the logo design, the different paper types for our business cards or the uniforms for the front office staff. As important as this is, if you do not have a vision for your business, a plan of where you want to be in the next few years, then you are in for a challenge.

To avoid burning out too soon, make sure you prepare a two-year plan before you launch. This should factor in all the expected expenses, with a pot set aside for unexpected costs that may arise along the way, such as the need to hire an extra staff member, or money to pay wages if an unexpected downturn happens.

As an entrepreneur, your mission is not just to start your business, but to expand it and for you to grow with it. Invest time in reading, training and keeping up to date with the industry’s latest news. Involve your staff in this routine as well, so that your team develops along with you. Perhaps set aside an hour in the day to meet and discuss the latest industry trend or dedicate your solo reading time to this task. Networking is also part of growing your business. Connections open doors to other connections, exciting new business areas or a whole new geographic territory.

Last but not least, always be on the lookout for new ways to expand your business. Listen to your customers, stay up to the date with other businesses in the industry and watch what they are doing. Also see how you could help expand and grow it, including your business on digital platforms.

Manar Al Hinai is an award-winning Emirati writer and communications consultant based in Abu Dhabi. Twitter: @manar_alhinai.

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