We recently had the opportunity to interview Faraz Ahmed Hussaini, CEO of Fubon Group. Intending to assist SMEs, both existing and fresh ventures, Faraz blends his expertise and knowledge of this field to offer efficient consultancy services.
Faraz plays a crucial role in shaping the organization’s current position in the industry. His expertise of more than 15 years spans wide areas including Banking and Business Development, Sales procedure, and Marketing Operations. In this interview, the CEO shares his career journey, the inspiration that sparked his interest, approaches to tackling challenges, and the role of networking.
Turning Points In The Journey
We started the interview by asking, “Can you share key milestones and turning points in your journey as an industry leader or entrepreneur?”
Faraz responds, “Being a banker for over a decade I understand the market and its requirements. While discussing some complex issues of SMEs and investors in a forum I thought of providing them with comprehensive solutions and hence started my venture Fubon Management Consultancy. We assist existing and new ventures as per the UAE Policies and Norms. We are glad that in a very short period, we are assisting more than 100 SMEs and catering investors from various countries.”
Spark Behind Fubon
We were intrigued to learn the major factors that influenced Faraz Ahmed Hussaini to start his company. So, we asked, “What inspired you to start your own company or venture in this industry?”
Faraz Ahmed Hussaini shared, “Fubon is a platform that caters to the vision of Investors that inspire us. We meet investors and understand their requirements, prepare feasibility reports, and assist in streamlining all their operations. Clients will associate with us for a long time as a family trust us in our consultation and invest accordingly. We feel proud and delighted when we see our portfolios from various continents.”
Encouraging Innovation And Creativity
Innovation is an inevitable part of leading a successful business. We asked, “How do you foster innovation within your company?”
“Fubon encourages innovative ideas and we are constantly working to serve clients’ needs in a short period. Our team members regularly attend seminars and meet government entities to understand new technologies and policies. We create a culture of learning within an organization that promotes innovative ideas and new trends to accomplish with ease.” Faraz shared.
We further asked, “Can you provide an example of a successful innovation initiative?”
Faraz Ahmed Hussaini continued, “There are numerous examples. Fubon shares the recent experience of French clients whom we cater to within a week. However, most of the credit goes to our Relationship Manager, Natasha Cunningham from Meydan Free Zone. We met the customer and he expressed his desire to form a company, although he was scheduled to travel within 4 days. Our team outperformed, and we served the client in a short period. This is due to implementing new technologies in our process.”
Retaining The Bright Minds
Having top-notch talents in the team uplifts the business multiplefold. So, we asked, “How do you attract and retain top talent in your organization?”
Faraz Ahmed Hussaini responds, “Fubon believes in staying engaged and emotionally connected with its employees. We reward our employees for their performance and provide them with training in case they lack knowledge or skills in a particular area. We provide stability that helps them grow within the organization without any distractions. Their salary and incentives are continuously increasing with a growing personal portfolio which motivates them to serve the customers.”
Role Of The Duo
“How important has mentorship and networking been in your professional journey?”
Faraz Ahmed Hussaini replied, “A strong professional network can connect you with experienced mentors and role models who can guide and inspire you on your career journey. Mentors offer valuable advice, share their experiences, and provide valuable insights into navigating professional challenges whereas Networking strengthens business connections and elicits new ideas that move your organization forward and provides us with career advice and assistance with different perspectives and visions.
And of course, develop long-lasting personal relationships.”
Adaptability Amidst Challenges
Challenges are an inevitable part of any business. So, we asked, “How do you assess and mitigate risks in your business?”‘
“Fubon always emphasizes process and policies. Clients look at profits and there are many risk-management process frameworks, but most can be distilled primarily into setting organizational objectives. I try to understand and assess the risks myself. I continually strive to develop controls that minimize risk.
My theory consists of 4 W and 1 H-
- What could go wrong?
- What must go right for us to be successful?
- Where are we vulnerable?
- What assets do we need to protect?
- How can we fail?
That’s it.” Faraz Ahmed Hussaini shared.
Adapting To The Latest Trends
We were curious to learn how Faraz Ahmed Hussaini ensures that Fubon always stays updated with emerging trends. So, we asked, “How do you adapt your business strategy to capitalize on emerging opportunities and industry shifts?”
Faraz Ahmed Hussaini shared, “There are many strategies to help businesses adapt to change and industry shifts, such as fostering a culture of adaptation and conducting regular market analysis. We develop a strategic plan and foster agility and flexibility in our business. And forming strategic partnerships can also be good for the organization.”
Words Of Wisdom For Beginners
Beginners starting in a similar field will find it inspiring and helpful to hear from an industry leader like Faraz Ahmed Hussaini. So, we asked, “What advice would you give aspiring entrepreneurs in this industry?”
“Becoming an entrepreneur requires more than a great idea; it is about mastering skills such as finance, marketing, and accounting. It is also important to understand your industry, test your idea, and know your weaknesses. Remember, it’s not just about the idea, but also about how you execute it. So, get your finances in order.
Organize your business knowledge. Read, learn, and implement. And remember one thing, find your passion – the most successful startups are founded by people who are passionate about their work.” Faraz Ahmed Hussaini shared.
Instilling The Lessons
“What key lessons have you learned along the way?”
Faraz Ahmed Hussaini shared, “Life is a continuous learning experience but time is our most valuable resource. Throughout life we rise and fall, learning important lessons along the way. Some of these lessons come from experience, yet there are others that we learn by watching others or reading in books for example but there is a significant difference between practical and theoretical experience. Furthermore, there are many life lessons that we simply cannot learn until we face certain situations in our lives. Most people would say that some lessons come too late, catching us off-guard and unprepared.”
Plans We Asked Faraz Ahmed Hussaini
To learn more about the goals Faraz has envisioned for the organization, we asked, “What are your long-term goals for your company?”
Faraz Ahmed Hussaini shared, “Fubon aims to open branches around the world. We are also opening offices in France next year along with Qatar and Singapore. Revenue is projected to double in the coming years based on our portfolio and investor support. We are also working parallelly in the healthcare sector.”
Acing The Competitive Landscape
We ended the interview by asking, “How do you plan to remain competitive in the evolving business landscape?”
Faraz Ahmed Hussaini concluded, “My competitive landscape is always in constant pursuit of improvement in line with technology and customer needs and desires. The competitive landscape analysis should always be a living report that is dynamically updated and analyzed on a set cadence.”
Connect with Faraz Ahmed Hussaini on LinkedIn.