We recently had the privilege of interviewing Wissam Jabr, Founder and CEO of Exventur, an investment and management company. Wissam’s journey over the years, from realizing his passion and enthusiasm for sports, along with his real estate market expertise, to his current position, is truly inspiring. In this interview, the CEO shares about his company, Exventur, and the one he is currently building, SurfSide, challenges faced in the business, major turning points, and factors that inspired him to develop his ventures.
Exventur is a purpose-driven company promoting health and happiness by investing in, developing, and managing inspiring, exceptional lifestyle and leisure venues. Wissam Jabr is also developing SurfSide, an urban escape lifestyle and surfing destination. Wissam’s take on the importance of a healthy lifestyle and sports, Surfing, and following one’s passion offers vital lessons to aspiring entrepreneurs.
Milestones 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?”
Wissam Jabr shared, “Exventur was born out of personal interests that converged with business circumstances. Through Exventur, I can marry my passions and enthusiasm for sports with my real estate background and track.
Around 12 years back, a personal health event jolted me from a semi-sedentary life and triggered my decision to get healthy: mind, body, and soul. That event put me on a path to seek well-being through a complete lifestyle change, from meals to how I spend my time. There are still things that I would like to improve, as we are on a constant quest to better ourselves, our lives, and the lives of those around us.
I have never turned back since then. I found that sports increase the frequency of those ever-fleeting moments of happiness we all seek, over and above the physiological benefits. I decided to align business circumstances and opportunities with my lifestyle decision. This inspired the concept of SurfSide, through which I want to share my transformational experience and offer others the chance to follow the path of wellness and to live one’s best life.”
Major Inspirational Factors
We were curious about the factors that played a crucial role in influencing Wissam Jabr to start his venture. So, we asked, “What inspired you to start your own company or venture in this industry?”
Wissam Jabr replied, “Having worked with a business group that focused on extreme sports, we explored ways to merge sports with real estate—this research and exploratory period inspired me to align my passion for sports and my real estate track and capabilities.
I identified a unique emerging sport with growth potential: Surfing, which led to its advent.
SurfSide is a resort and a lifestyle destination. It’s a place to create deeper human connections and weave communities year-round. It offers authentic, enriching, fun, and memorable experiences to both the local communities and the travelers out there, to those that inspire and aspire, in the city and beyond.”
“Surfing, which used to be reserved for the few thrill seekers, has now become mainstream, thanks to adventure-seeking global trends that emerged from the traumatic confining period associated with Covid. The fact that Surfing was inducted into the Olympics further props the growth story around our new venture.
The latest emerging surf pool technologies further helped solve a real problem: the availability and consistency of waves. Surfside will offer those ephemeral waves consistently throughout the day, the seasons, and the year in a safe, controlled, and beautiful environment. Allowing new entrants to enjoy the inspiring activity and others to progress in a structured and managed environment.” Wissam added.
Fostering Innovation
To emerge as one of the top brands amidst the competition, it is paramount to foster Innovation. We asked, “How do you foster Innovation within your company? Can you provide an example of a successful innovation initiative?”
Wissam Jabr replied, “Innovation is another way to describe change. And I embrace it as it motivates me forward, as I enjoy new challenges. I started my earlier career as an architect. Architecture is driven by Innovation by definition. An architect is taught and trained to think out of the box, laterally, and in the 4th dimension. Transferring creative thinking skills to Real estate development and business, in general, gives me a one-up and allows me to innovate.
I thrive on exploring new ideas and technologies.
With Surfside, for example, we are working with world-renowned architects https://www.l-a-v-a.net – one of its leading partners conceived the Beijing Olympics Watercube – who are currently working on Trojena in KSA, among other cutting-edge projects. Also, we are studying and researching using the latest technologies and construction methods, such as AI tools and 3D printing, while consistently enforcing sustainable practices and being ecologically sensitive.”
Attracting The Right Talent
Having the right team is essential in leading the business to success. So, we asked, “How do you attract and retain top talent in your organization?”
“Exventur’s mission is to create and deliver value and enable your best life by enhancing physical and mental wellness. In selecting stakeholders, whether partners, consultants, suppliers, or others, we aim to work with the best and those who align with our mission and values and share a similar purpose.
Also, motivation is a crucial driver of performance, and we are a purpose-driven company, over and above financial benefits. We also believe in empowerment and follow a result-driven entrepreneurial culture.
I want to shout out to the surfing community that always comes together. It is nice to find support and find this community motivated to see us succeed with Surfside. After all, we are really working for the larger communities out there, and simply doing the work to satisfy their growing needs.” Wissam replied.
Role Of The Important Duo
We asked, “How important has mentorship and networking been in your professional journey?”
Wissam Jabr continued, “My business partner once described networking as a necessary tool or skill set for any successful businessman. One can go fast alone but will only go far with others. Today, networking is easily achievable, as connecting and accessing like-minded individuals who share the same purpose to drive the business forward together is much easier.
The 6 degrees of separation of previous generations no longer holds. Connections are down to one. Thanks to social media tools like LinkedIn, for example, the world has shrunk to the size of a village, bringing communities together at the speed of a DM or an email, facilitated by Web 3, AI, and other platforms and technologies.”
Mitigating Risks
Challenges are an inevitable part of any business. We asked, “How do you assess and mitigate risks in your business?”
Wissam Jabr shared, “With Innovation comes risk. Nevertheless, one must still do the work, follow a rigorous process, and stick to the Fundamentals. We give due time to research and analysis and are patient, especially when selecting real estate and markets. We have, for instance, walked away from some locations because we felt that they were in the wrong location at the time, or not fit for purpose, or even in the wrong country altogether.”
Wissam Jabr added, “One has to be patient and not jump on any opportunity. Real estate commitments are long-term; thus, the project’s long-term success is contingent upon wise decision-making.
Notwithstanding referring to other standard tools such as benchmarking, ratios, project risk register, etc., proper governance and best practices are also other pillars. Having the right “gray hair” with the right skill sets and the required competencies and experience on the board level, in addition to third-party external consultants for validation when needed, helps reduce risks, always relying on checks and balances.”
Adapting To The Latest Trends
To learn more about Wissam Jabr’s company’s approaches to adapting to the latest market shifts, we asked, “How do you adapt your business strategy to capitalize on emerging opportunities and industry shifts?”
Wissam Jabr shared, “I tend to like niche markets and to minimize competing with the herds, which allows the products to stick out in the market, and so own that space. Through research and keeping up with trends, we identify gaps in the market – offering us a blue ocean strategy.
Emerging markets are, by definition, riskier and more complex to convince or find the right fit investor. One has to be creative in approach to convince reluctant stakeholders. This could be in how one packages or markets the story to make the P&Ls work, referring and benchmarking to existing proven models.
Further, it is essential to also differentiate in the HOW. I believe in offering a differentiated product based on consistent and aligned branding that caters to authentic customer experiences and a long-term commitment from the customer’s perspective. Building places they would want to return to, and not just visit once and might call a home away from home. In other words, consistent quality and not quantity as an overall strategy aligned with communities’ expectations. And this should not be exclusive to the top surfers in the case of SurfSide as we also listen and cater to a broader audience.”
Wissam Jabr added, “So, the Business Model also needs to be in sync. We are currently looking at the best pricing strategies to align temporary visitors to longer-time customers to keep the customer experience aligned with expectations.
Although I am no longer a practicing architect, the design remains a crucial strategy pillar. Design must be celebrated and intrinsic to pleasurable experiences, inspired locally with global appeal, with a clear sense of identity. We curate our partners carefully to deliver the look, feel, and vibe to align with the brand values.
We also want to remain nimble to react, adapt quickly, and limit layers as much as possible while continuously improving, innovating, and staying relevant. Finally, we look at the long term and are not after quick wins.”
Advice To Beginners
Starting in a similar field, aspiring entrepreneurs will find hearing from an expert like Wissam Jabr inspiring and helpful. So, we asked, “What advice would you give aspiring entrepreneurs in this industry? What key lessons have you learned along the way?”
Wissam Jabr replied, “I recommend to the younger entrepreneurs to follow their passions first and foremost. Passion is the first ingredient to success. Success can be summarized simply by a 3 tier formula, starting with the essential element of passion. Motivation will wane, and work will slack if one is not passionate about something. As mentioned earlier, motivation is the engine that drives us. So, finding that passion that ignites us is key.
The first ingredient is necessary but not sufficient. The second must-have part of the formula is aligning the required skills and competencies to deliver on the passion. If one does not have the competency, there is no way they will be able to deliver. What remains to complete the formula is finding means to monetize.
Another recommendation is never to give up. Hard work eventually pays off, as grit trumps talent, hands down. Never take no for an answer. Always find a way to make it work. But for that, one must honestly believe in their actions and know their purpose.”
Long-Term Goals We Asked Wissam Jabr
Our last question was, “What are your long-term goals for your company? How do you plan to remain competitive in the evolving business landscape?”
“Our objective is to deliver happiness via mental and physical health in a beautiful environment. The long-term goal is to build a recognizable brand across multiple locations and continents.” Wissam Jabr concluded.
Connect with Wissam Jabr on LinkedIn.
Find Exventur on LinkedIn or visit www.exventur.com to learn more.
PS:
www.surf-side.com (still a private site – access requires a password)
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