The art of starting and running a successful business in a highly competitive UAE market was the chief topic of discussion on the first day of Millionaire Summit, which commenced in Dubai today. The Summit is host to leading international and local business gurus who are teaching the tricks of the trade to UAE SME owners and aspirants. The opening day saw a number of delegatesinteracting with top entrepreneurs and learning comprehensive and practical lessons on starting a business, sales growth, attracting investors and creating alternative income streams, among other topics. Organised by Wealth Dynamics Unlimited, the Millionaire Summit is scheduled from 19th to 21st November in Dubai. Besides learning business growth, the event will also provide opportunity for people to forge new contacts, make deals and meet potential investors and valuable suppliers.
According to the latest figures by Dubai SME, an agency of the Department of Economic Development (DED), SMEs represent 95 percent of all establishments in Dubai. These businesses account for 42 percent of the workforce and contribute around 40 percent of the emirate’s GDP. Sector-wise, trading accounts for 57 percent, followed by services and manufacturing sectors at 35 percent and 8 percent respectively. However, productivity of Dubai SMEs is lower in comparison to other trading and service economies, for example, Singapore and South Korea.
Oksana Tashakova, founder of Wealth Dynamics Unlimited and the brain behind the Millionaire Summit said: “The Summit aims to educate SME owners and those who wish to start their own business on hands-on tools that will help them achieve productivity. Running a successful business requires more strategy than skill, and this is the difference between a successful and an average entrepreneur. With this Summit, we hope to blur the line and provide equal opportunity to those attending the session to rethink their strategy for a better and faster growth of their business. This is also an ideal platform for aspirants to pick ideas for start-ups and make their entry in the market as error-free and impressive as possible.” Ms Tashakova will be discussing personal branding as well as entrepreneurship revolution on the second day of the Summit.
The ‘One-stop-shop’ event focuses on a number of issues that new start-ups and existing businesses face, with experts sharing smart strategies and experiences that will help novices start on the right foot. The Summit also addresses ways to minimise business risks, maximise profits and convert them into long-term gains, key to managing and destroying debts, the power of brand identity, creating appealing sales pitches and getting free publicity. Experts will focus on the growth drivers and resources necessary to scale up businesses and the techniques to master the art of outsourcing and delegating. Participants will also be taught how to identify the correct market for maximum profits.
To maintain, ‘edutainment’ element of the event, constructive games that will help hone marketing skills have been organised for all three days with a winner to be announced at the end of each day.
Performance Expert and Income Acceleration Coach Pat Mesiti who discussed the need to create a ‘millionaire mentality’ on the first day, said: “The road to success can be as straight for some as it can be twisted for others, depending on our mindset. A lot of brilliant business ideas stem from the way we think, and this is what can turn a dream into reality. Many ideas, if not executed properly die within our minds only, which I feel is a huge loss, since all of us as individuals have the potential to be a millionaire if we put our minds to it.”
“It is no secret that profitable sales are the outcome of innovative marketing; yet, few entrepreneurs grasp the concept and apply the correct formula and use the right platform for sales pitch. In this regard given the massive reach of online forums, the power of internet cannot be stressed enough. During the Summit, visitors will be taught how to use internet marketing to the best of their advantage, while increasing leads and generating sales online” added internet marketing guru David Cavanaugh who will speaking on the third day of the event.