UAE businesses should focus on value more than profit, says PayTabs chief
Abdulaziz Al Jouf urged entrepreneurs to balance value and profit in order to scale successfully
Business owners who focus more on profit than on value will ultimately fail, according to the CEO of Saudi-based payment solutions company PayTabs.
Speaking to Arabian Business, Abdulaziz Al Jouf urged entrepreneurs to balance the two factors in order to scale successfully.
“When you start a business and you start to scale up, the moment you put the dollar sign in your head, you’re a dead man. It’s more of a balance, of course, because at the end of the day, I have to get money. I don’t want my investors to get worried,” said Al Jouf.
“But it’s really what kind of value you bring to the continent or country or merchant. Value and profit always fight each other in a CEO’s head. It’s a very thin line, because anyone can beat you in numbers, even if you are the greatest,” he added, explaining that he aims to shift market mind-sets to be more value-conscious the same way that Apple shifted consumer mentalities from spending conscious.