A good leader models excellent behavior and must be able to motivate and encourage people. The most successful companies and organizations have leaders who help their staff understand the value of their vision and show them how everyone can work together to achieve that goal in their role.
Skillful leadership is crucial to achieving business goals. There is a set of leadership principles that a leader should follow to help them maximize the potential of their employees. Some people are natural leaders, while others must develop the skills and abilities that they need to lead effectively.
Amit Marwah is a highly competitive person, and his passions include fitness, sports, financial markets and rolling out new business ventures. He aspires to constantly go to the next level as he dreads being average, which motivates him in difficult times.
Amit is a CFA Charterholder (US) and holds an MBA in International Business from the prestigious Delhi School of Economics, along with several certifications in contemporary topics like financial engineering, fintech, behavioral finance, international leadership and strategic negotiations.
He adds, “I firmly believe in the science behind the 1% rule. Keep adding 1% to your last performance, and you will keep moving towards your goal. Ability is achieved through deliberate practice and habit. Habit is the intersection of knowledge, skill, and desire, and it is our routine habits one needs to master.”
A Man of Ethics
He follows strict work ethics, plans daily to control his thoughts, and productively channels his energy. He idolizes Elon Musk for being a visionary and having a never give up attitude and Virat Kohli for busting the myth that one needs to be born special, to do extraordinary things in life.
Amit considers meeting his wife and the birth of their two kids as the highest point of his personal life. Like every driven and ambitious professional, he still awaits his most elevated point on the professional front. He firmly believes that the best is yet to come, and this is just a start. His vision is to see all the group companies as undisputable regional leaders in the MENA region. That, he thinks, would be a grand culmination of the efforts put in by the entire leadership team since its inception.
He considers himself to be extremely fortunate to be a part of starting five different new businesses since he joined Dayim Holdings as Chief Investment Officer. He considers it to be a start and that his best years are clearly ahead of him. All the incredible experiences he has had over the last fifteen odd years in the Arab world are definitely attributable to his organisation’s leadership and the partners he has worked with.
He feels that he has been fortunate enough to get a distinctive 360-degree experience of running the entire lifecycle of various large businesses from (1) Sourcing and evaluation of business opportunities, (2) Legal, operational and financial structuring of business and transactions (3) Setting up different business operationally (4) Equity and debt financing of the business (5) Strategic development and expansion of the different business to finally (5) Running a large business as the Chief Executive Officer, successfully.
It’s extremely rare that someone has an opportunity to study and start/invest in businesses as a CIO, “Multiple in my case,” he says and then have the opportunity and track record to actually run one of those businesses as the Chief Executive Officer –CEO of…
Fraikin Dayim GCC
It is the only specialist Full-Service Truck Rental and leasing company in Saudi Arabia and the broader GCC markets. The company currently offers trucks on a long-term operational lease basis along with a varied Set of Services including fleet acquisition and management, full-service maintenance of the trucks, regulatory compliance, risk management, fuel management, telematics technology, and data analytics reporting on the leased trucks.
Amit conveys, “Our SMART Truck solution provides a wealth of data that enables organizations to measure the performance of their fleet across all key aspects. At Fraikin Dayim GCC, we have constantly tried to redefine the conventional business model of leasing into more of a new-age business using data analytics & technology. Creating a unique level of customer service, building a competitive advantage, using the latest technology, and constantly transforming the business model have helped us to stay ahead of the competition.”
The Bequest
Dayim Holdings was founded as a vehicle for investment, strategic partnerships and joint ventures in Saudi Arabia. It operates and manages various companies in sectors with high market growth potential using a combination of joint venturing, investment and strategic partnership and creating long-term value for the shareholders.
The vision is to act as an incubator of international brands in the Gulf Region and create businesses in the B2B services domain. The current portfolio of companies started currently spans heavy equipment rental, truck leasing, audio visual rental, man guarding services, event production, oil and gas EPC contracting, high tech safety and security equipment, Information and Communication Technology (ICT), and systems integration services. In the past, the businesses in the Gulf region have often been criticized for not being able to offer services of international standards.
Amit and his team have endeavored to change the same by partnering with some top global organizations. They have successfully incubated five successful businesses in different sectors.
They are now a regional company present in Saudi Arabia, UAE, Qatar, Kuwait, and Bahrain too, to elevate the service level and redefine the market standards in every sector they enter.
He believes that there are massive possibilities in the whole GCC region, especially in the service sector, including entertainment, e-commerce, healthcare, hospitality, security, transportation, rental, and logistics, to name a few.
The last few years have been challenging for the whole region. But this is leading to long term healthy consolidation for the industry. Amit shared that they are looking to bring more international brands, business models and service propositions to the wider GCC region.
Another set of challenges for “new businesses” came from understanding sector regulations, access to debt finance, and acquiring the right talent. Amit says, “Having a sound strategy, a marketable product with excellent service, and efficient processes are all important. But eventually, it comes down to the quality of people within the organization to execute the business on the ground.
We have been lucky to have found some fantastic people spearheading and managing these businesses.” Raising funds is another challenge that has been faced by greenfield businesses globally. But it is even a more significant challenge here in the gulf. Here, startups and SMEs face considerable difficulties securing finance from conventional sources such as bank financing. Though a lot of these challenges have eased considerably in the past few years under the exceptional leadership and remarkable vision of the Saudi Government.
Striving with Innovations
The mindset of an entrepreneur is entirely different from a consultant or an employee. “My most significant learning in this journey was looking at the situation as an opportunity and not a roadblock,” expressed Amit Marwah.
It is all about getting the basics right, spotting a gap in the market, following it up with meticulously planned research and execution plans, hiring driven and dynamic people and offering your customers an absolute delightful level of service. Businesses which consider customers as long-term stakeholders and brand ambassadors of business always thrive above the competition.
Amit believes that the ups and downs make life and its story intriguing and romantic. That is the thing; we all can learn from champions that they can process setbacks quickly and get on with it. Exposure to starting multiple new businesses in such a short span has fast-tracked his professional evolution. However, the whole journey has not been without its ups and downs, with its fair set of challenges. Amit believes that some of the best structures and solutions tend to come up when one’s back is against the wall.
He is working on some fascinating new businesses, including Electric Trucks, Audio Visual Trucks, material handling and Hi-tech Canvas business with some of the top global brands. Life has been one fantastic journey for him where a seemingly risky decision to move to Middle East turned into a wonderful one, and as he says, “We live the life in our heads, and that’s where we can win most of our battles and challenges.”
Indulging in the Pearls of Wisdom
“Our brain gets inclined towards thoughts and ideas you feed it every day. So, I ensure that I feed mine with positive, inspirational and successful ideas and stories every day. Another initiative of mine has been to follow strict work ethics and plan daily.”
This helps in controlling one’s thoughts and productively channelizes the energy. As his business portfolio expands and gains further size in the next few years, it will be an altogether different opportunity with its own set of challenges. Amit is looking forward to that phase as well.
Amit shares his entrepreneurial journey’s learning as a piece of advice for the budding aspirants willing to venture into the industry.
“Businesses which consider customers as long-term stakeholders and brand ambassadors of business always thrive above the competition,” he concludes.
