Swanand Pagnis

Will Ahmed, Founder/CEO of WHOOP launched his company in 2012 and had version 1.0 out in 2015. As founders, we often rush to push out a product and validate demand. While everyone’s timeline is different, my conversation with Will highlighted 3 important points: 1) Never settle with a founding team that isn’t willing to spend long hours and expect failure at the first few iterations. 2) Building a sticky product requires you to be genuinely interested in the well-being of your customers. 3) ARR is a great metric, but seeing strangers use your product is an even better one.

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Highlights from the last few months 1. Recorded a podcast in Dubai 2. Started working on some side projects apart from the podcast Gotten some good feedback on this from a few folks Trying to understand now how to build it and what direction to take 3. Approved to attend an event hosted by some folks in startups and VC’s here Still looking to meet ambitious folks here who talk about side hustles and ideas 4. Focused on releasing episodes from the backlog

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The UAE SaaS Playbook: Perfect Your Local Market First (Part 4 of 5) In my journey from launching a fruit subscription service to leading product at a SaaS company in the UAE, I've learned a crucial lesson: master your local market before going global. Why Focus on the UAE Market First: Rapid Feedback Loop - The UAE's compact market allows for quick iterations based on user feedback. You can refine your product faster, setting a solid foundation for future expansion. Cultural Nuances - The UAE's unique business culture requires specific product adaptations. Perfecting these locally gives you insights applicable to other Middle Eastern markets. Strong Government Support - UAE's initiatives like Dubai Future Accelerators offer invaluable resources for local startups. Leveraging these can provide a significant boost before going global. Regional Hub Advantage - Success in the UAE often translates to easier entry into other GCC countries. You're building a launchpad for regional expansion. Cost-Effective Testing Ground • Validating your product locally is more cost-effective than immediate global rollout. It allows you to iron out issues before facing international competition. Strategies for Local Market Success: Deep Customer Understanding • Conduct extensive local market research and customer interviews. Localization Beyond Language - Adapt your product to local business practices, not just Arabic translation. Consider local payment preferences and data regulations. Build a Local Network - Attend industry events, join local startup communities, and engage with business councils. Personal relationships are crucial in the UAE business ecosystem. Leverage Local Talent - Hire team members who understand the local market deeply. Start with a Niche • Focus on dominating a specific sector in the UAE before broadening your scope. Collaborate with Local Enterprises • Seek partnerships or pilot programs with established UAE companies. These relationships can provide credibility and valuable feedback. Align with UAE Vision 2030 - Ensure your product aligns with the UAE's long-term economic goals. This can open doors to government support and enterprise contracts. Remember, in the SaaS world, it's tempting to think global from day one. But in my experience, perfecting your product for the UAE market first can set you up for stronger, more sustainable global growth. What's your take on the local-first approach? Have you seen success focusing on the UAE market, or did you go global immediately? Share your experiences in the comments! #UAETech #SaaS #StartupStrategy #ProductManagement

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Startup Founder Disputes: A Quick Guide 💥 Why They Happen: 1- Misaligned vision. 2- Uneven workload. 3- Role confusion. 4- Equity disagreements. 5- High-stress decisions. 🔧 How to Fix: 1- Talk it out early and openly. 2- Involve a neutral mediator if needed. 3- Revisit your shared goals. 4- Clarify roles and responsibilities. 🛡️ Prevent disputes: 1- Draft a solid founders' agreement (roles, equity, decision-making). 2- Set clear roles from day one. 3- Have regular alignment meetings. ⚖️ Mitigate Impact: 1- Document decisions and agreements. 2- Include equity buyback clauses. 3- Build an advisory board for guidance. Disputes are normal—how you handle them defines your success. #startups #founders #leadership #StartupFounders #enterpreunership Thoughts or tips? Drop them below 👇

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A world of opportunities, divided by Capital. Looking at the global VC landscape, it’s hard to ignore the disparities in funding across regions. The US and Europe are brimming with VC hotspots, where startups have both the market & ecosystem they need to scale and thrive. The Middle East is catching up, while Pakistan—despite its enormous potential and talent—remains underserved. Just like Mark Zuckerberg said: 'Talent is everywhere, opportunities are not'. Image credits: OpenVC

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There are over 15 tech (or VC backed) companies in the Middle East & North Africa that are doing over $100 million in annual revenue (or run rate). This list only includes companies with publicly available financial data (in some form) or where I have been able to confirm. There may be other companies generating $100 million or more in revenue, but their numbers haven't been disclosed. Delivery Hero MENA (not an independent company) did nearly $3 billion last year. These numbers also include Turkey. Jahez did $475 million in 2023. Halan should've done a little over $400 million in 2023. Its founders claim that it should close 2024 with $500 to $600 million. Kitopi did over $330 million* in 2023. STC Pay did $283 million in 2023. Careem Technologies (the spinoff majority acquired by e&) should have an annual run rate of nearly $200 million. Maxab does $200 million+. Tasheel (which is currently part of eXtra but is going public soon) did $140 million in 2023. Unifonic, Tabby, Floward, Mrsool, Trukker, and Nana should have an annual run rate between $140 million to $220 million. At least three of these companies should have a run rate of over $200 million. Property Finder did over $100 million in 2023.* Breadfast has an annual run rate of over $100 million. Kavak MENA also has an annual run rate of $100 million+. Salla also does over $100 million. Haven't been able to confirm this though. Even if they're not there yet, they're super close.* The numbers for Tamara and Dubizzle Group (formerly EMPG) are not public, but it's likely that they are also doing over $100 million annually. Fawry was also doing $100 million+ but with the recent devaluation of EGP, it is no longer there. Rasan and Foodics should also get there within 12-24 months. Eyewa and Calo are also super close. (Jumia North Africa was at ~$77 million in 2023. Noon and Amazon MENA, however, should be easily beyond the $100 million number). It is important to remember here that not all revenue is created equal. This obv. applies not only when comparing different companies but also the different revenue streams of a single company. A quick example to explain this further. Jahez made four times the revenue of Tasheel, but its (net) profits were just over half of what Tasheel made. Jahez operates with a 23 percent gross margin, compared to Tasheel's 88 percent margin. In other words, for every $10 in revenue, Jahez made $2.3 in gross profit, and Tasheel made $8.8. Most of the companies I've listed here are private so we have no visibility on their financials, revenue mix, or (in most cases) even growth rates. So make what you want of this. But to get a good read on a company's performance, you might want to wait a year or two, as many here that aren't listed are set to go public soon. A quick insight: Ten of these companies are headquartered in Saudi. Three each in Egypt & UAE. One final (and obv.) thought: long Saudi. *Updated.

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Saudi Arabia plans to invest $100 billion in “Project Transcendence” to compete with the UAE. They’re looking to team up with larger tech companies. Here’s what’s brewing up: Google's already in, with a $10B partnership. Andreessen Horowitz might join with a $40B fund. And they're just getting started. Think about the pattern: • 1990s: Dubai was just desert • 2000s: Dubai becomes global hub • 2020s: Saudi enters AI race with $100B • 2030: ? This isn't just about AI - it's about economic transformation. Saudi Arabia is essentially building a digital NEOM for AI, turning oil wealth into technological power. Think about it: In 2021, everyone thought the UAE was ambitious with G42. Today? Saudi Arabia is raising the stakes 10x. Dubai transformed from a desert to a tech hub. History might be repeating itself, but this time with AI... They're not competing with Silicon Valley or Beijing - they're positioning to become the bridge between East and West in the AI era. #artificialintelligence #uae #tech

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Don't Dump your Tech Business Ideas without knowing the real price to build. If you know the truth of MVP development cost $10000 to $45000 only, even if you can bare this. But until you request you can't came to know that. I am Sure it will not exist more than $50000. Give me the challenge task. In today's fast-paced world, technology is constantly evolving, and new business ideas are popping up every day. However, before you start dumping your tech business ideas, it's crucial to understand the real cost of bringing them to life. The Hidden Costs of Building a Tech Business Building a tech business is not just about having a great idea. There are numerous hidden costs that can quickly drain your resources if you're not prepared. Here are some of the key factors to consider: Development Costs: This includes the cost of hiring developers, designers, and other technical experts to build your product or service. The complexity of your project will determine the cost, which can range from a few thousand dollars to millions of dollars. Team Building Costs: Hiring and retaining top talent is essential for any tech business. This includes the cost of salaries, benefits, and training. Contingency Costs: Unexpected expenses can arise during the development and launch of your business. It's important to set aside a contingency fund to cover these costs. How to Estimate the Real Cost of Your Tech Business Idea Estimating the real cost of your tech business idea can be challenging, but it's crucial to get a realistic picture before you start investing your time and money. Here are some tips to help you estimate the cost: Break down your project into smaller tasks: This will help you identify the specific costs associated with each task. Research industry standards: Look at similar projects to get an idea of the average cost per task. Factor in unexpected costs: Always set aside a contingency fund to cover unexpected expenses. Consider outsourcing: Outsourcing certain tasks can help you save money, especially if you don't have the in-house expertise. Conclusion Building a tech business is a complex and expensive undertaking. Before you start dumping your ideas, it's crucial to understand the real cost of bringing them to life. By carefully considering all the factors involved, you can make informed decisions about whether your idea is worth pursuing and how much it will cost to bring it to fruition. Additional Tips Start small: Don't try to build a complex product or service from the start. Start with a minimum viable product (MVP) and iterate on it based on user feedback. Focus on your core competencies: Don't try to do everything yourself. Outsource tasks that are not your core competencies. Remember, knowing the real price to build your tech business idea is essential for its success. Don't let your dreams get dumped in the trash can of unrealistic expectations. #startup #idea #ideas #mvp #saas #marketplace #techidea #techstartup

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MVT before MVP: Founders should do Minimum Viable Testing before building any Minimum Viable Product, whenever possible. Someone said his biggest regret was to build an app right out of the gate, while he could have tested some of the key product concepts easily using existing software tools. Alex Kwon is the master of MVT. He pushes out quick experiments on Warpcast (which allows building small apps, such as short text prompts with buttons, on their feed) and applies the findings and learnings to his product. This works because human psychology works the same in any app. You like what you like, you choose what you prefer, whether it’s a button on a Warpcast post or a button on a mobile app that was developed by three senior software developers. So it’s a good idea to do MVTs before (or even during the process of) building the MVP. (Hat tip to Pete Cashmore for inspiration for this post)

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How a developer missed out on an extra $150K/year. (And how to not repeat his costly mistake.) He worked on a project for a client and: → Integrated Stripe as their payment processor → His client went on to process $50M per month → The developer got a sum total of $0 from Stripe Had he chosen Zenti’s payment processor instead ↴ He could have earned uncapped commissions, bringing in an additional $150K in passive income that year. Same work. Same project. A major difference in income. Don't be like him. Make smarter choices ↴ Earn uncapped commissions. The opportunities are there, make sure to grab them. If you are ready to create a new revenue stream: 1. Visit my website. 2. Click on the Revenue Share Program. 3. And finally, sign up to "Become a Partner." Or, you can also DM me "Referral Partner.”

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revenue ~= distribution * PMF * execution * monetization - distribution is your scale - PMF: the market you address and if it needs your value - execution is your product quality + ops/team - monetization is your pricing structure + conv. rate nail at least 3/4 and you'll make it👌

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YC's Pocket Guide 1. Launch now 2. Build something people want 3. Do things that don't scale 4. Find the 90 / 10 solution 5. Find 10-100 customers who love your product 6. All startups are badly broken at some point 7. Write code - talk to users 8. "It’s not your money" 9. Growth is the result of a great product not the precursor 10. Don’t scale your team/product until you have built something people want 11. Valuation is not equal to success or even probability of success 12. Avoid long negotiated deals with big customers if you can 13. Avoid big company corporate development queries - they will only waste time 14. Avoid conferences unless they are the best way to get customers 15. Pre-product market fit - do things that don’t scale: remain small/nimble 16. Startups can only solve one problem well at any given time 17. Founder relationships matter more than you think 18. Sometimes you need to fire your customers (they might be killing you) 19. Ignore your competitors, you will more likely die of suicide than murder 20. Most companies don't die because they run out of money 21. Be nice! Or at least don’t be a jerk 22. Get sleep and exercise - take care of yourself https://lnkd.in/g4RGixkS

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Notifications. Such a simple thing. Unless you are not using an app. meed now pings customers whenever they interact with a program on the platform (earning, redeeming). meed will also notify a customer when you create new rewards or offers. No app required. Many times more effective than sending emails. #CustomerEngagement #InnovativeNotifications #MobileAppSolutions #EnhancedCustomerExperience #EmailAlternative

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What makes a product go viral? In the case of ChatGPT, a great product + strong partnerships. The ChatGPT product team has certainly done a great job with the product. With its simple UI, it feels like magic is just a click away; there's no need for complicated coding, joining Discord channels, or anything else. Simply open a browser and explore it. Many people say this is the type of product that goes viral on its own. For the most part, I agree. OpenAI doesn't have a large marketing team, nor does it run major campaigns or demos to push the product to millions of users. OAI also leveraged a phenomenon I call FLG "Funding Led Growth". Akin to a prize fight, the larger the purse, the more people watch, the larger the purse becomes, and so on. The sheer size of the investment used to build OAI and ChatGPT created a gravitational force that tugged on users and media alike. But if you examine their growth, you'll notice a critical factor: their partnership strategy, especially with Microsoft. Here's what Microsoft brings to the table. → 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻 Microsoft's extensive enterprise connections and the vast network of companies using its Azure platform give OpenAI an advantage they wouldn't have otherwise. By integrating OpenAI into Azure, the platform becomes the easiest choice for developing custom AI models, exposing OpenAI to a massive customer base. Azure has penetration with ~ 95% of Fortune 500, has over 145M daily active users on Microsoft Teams, and over 250K companies using Microsoft Dynamics 365 and Microsoft Power Platform, according to Microsoft. That's a lot of B2B/enterprise customers that OpenAI has a head start with. → 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 𝗘𝗳𝗳𝗲𝗰𝘁 The growth of AI relies on network effects, but not in the traditional way seen with technologies like telephones where more users directly mean more connections. Here, the more users that engage, the more data is available to train the AI, making it smarter and more attractive to new users. (this is potentially a drawback or cause for concern for enterprise users which OAI needs to overcome) When we first tested ChatGPT, its responses were impressively human-like. However, it was restricted to data up to 2021 —making it outdated for recent inquiries. OpenAI's partnership with Microsoft provides a method to improve that. User interactions on Bing serve as both a testing ground and a source of real-time data, allowing ChatGPT to constantly evolve and enhance its capabilities. So the takeaway is simple: create a great product first, use this product as a wedge to attract customers and forge strong partnerships, leverage this partnership to bring more customers on a large scale (AND improve the product). Both things are important but need to be in order. Below is an image from Jaryd Hermann's article, "How OpenAI Grows." In the bottom left, you can see how Microsoft's distribution and resources have been pivotal in fueling ChatGPT's growth. Thoughts?

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PRODUCT MARKET FIT: Product Market Fit is when someone is willing to part with money for your product. Not to consider your product, not to review your product but to shell out money for it. And ‘should pay for it’ isn’t good enough. - If you can sell a cow that produces pasteurized milk but the farmer is convinced that yield issues are in the pasteurization process, you are not selling that cow. - If you have the best guard dog around, but the junk yard has a ‘beware guard dog’ sign, you are not selling that dog. - If you have the best pizza cutter on the market and all of the cooks want to use it, but the owner of the pizza shop doesn’t, you are not selling that pizza cutter. Are you getting it? Let me spell it out for you. CYBER SECURITY SALES SUCK. Security from a technical standpoint is largely solved. So why haven’t we solved it? Security is a human problem. You can’t solve all human problems with technical solutions. THE MISTAKE:  Making problems and high table stakes You have to solve problems and not create them. We think of 3Flatline’s secret sauce is as a zero day/exploit engine. Finding zero days in code instead of known CVEs is making problems for a company. If a company gets hacked and it’s a well known attack that they should have stopped, then the stock goes down. If a company gets hacked by unknowns (zero day exploits), they’re a victim and get a pass. No one cares about the unknowns. CISOs have really tight budgets and to make a sale you have to supplant an existing product being used. There is no room in the budget for a SAST. A SAST, even with fixes and test code, is a feature and not a product. Application security engineers, there is no room in the budget for you either. AI tools are going to be good enough faster than you think. THE CORRECTION: What does this all mean? 3Flatline will pivot into a company that focuses on the markets where unknown bugs do matter. That market is anything where people’s lives matter(military, space or government software) or a quantifiable amount of money can be lost (blockchain companies). So 3Flatline will continue to sell what no one else is selling, a zero day finding/fixing engine. But we are going to pivot our focus to Web3 smart contract security and to low level assembly security.

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Scaling a product & engineering team is like building a product. Requires strategy, iteration, and dedicated resources. Here's what I've observed in successful scaling efforts: 1. Treat scaling as a core project: It's not a side hustle. Allocate significant cognitive load to team growth and systematization. 2. Be selective in hiring: Rapid growth isn't the time for extensive training. Look for experienced professionals who can hit the ground running. 3. Build your scaling infrastructure: Just as the military has extensive onboarding systems, you need to create your own. This takes time and effort but pays dividends. 4. Manage expectations: Communicate with leadership about the resources needed for effective scaling. It may mean deprioritizing some product features in the short term. 5. Systematize as you go: Don't wait for perfection. Implement processes incrementally, improving with each iteration. 6. Focus on outcomes, not just output: Your job isn't just to ship features, but to move the business forward. Scaling your team is a key part of that. 7. Anticipate edge cases: Just like in product deployment, unexpected challenges will arise. Stay flexible and ready to adapt. Effective scaling is an iterative process. Each small improvement compounds over time, leading to a robust team capable of driving significant business outcomes. --------- Photo by https://lnkd.in/gzD6CB2v

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Building SaaS in UAE demands a different approach, few notes from my journey. In my journey from founding a fruit subscription startup to leading product at a SaaS company in the UAE, I've learned that success often means challenging conventional wisdom. Today, I'm kicking off a series where I'll share my experiences on building, launching, and reaching Product-Market Fit (PMF) in the UAE's unique SaaS landscape. Let's start with a counter-intuitive strategy that's crucial in our market: 1. Lean, But Premium : Myth: Startups need large teams to succeed. Reality: In the UAE, small, high-impact teams win. Here's why and how to build one. In Dubai's SaaS landscape, the adage "less is more" couldn't be truer. Here's why lean teams excel: Cost Efficiency: Dubai's high cost of living means each hire is a significant investment. A lean team keeps burn rate low, extending your runway. Agility: Smaller teams pivot faster, crucial in Dubai's rapidly evolving market. Decision-making is streamlined, allowing quick responses to customer feedback. Focus: With limited resources, you're forced to prioritize ruthlessly. This laser focus often leads to superior product-market fit. Building Your High-Impact Team: Hire T-shaped professionals: • Look for individuals with deep expertise in one area but broad capabilities. • Example: A full-stack developer with UI/UX skills. Prioritize cultural fit: • In a small team, each personality significantly impacts dynamics. • Seek those who thrive in ambiguity and wear multiple hats. Invest in the best: • It's better to have one exceptional developer than three average ones. • Top talent often delivers 10x the results, justifying higher compensation. Leverage Dubai's diverse talent pool: • Tap into the rich mix of global experiences available in Dubai. • This diversity often leads to innovative problem-solving. Create a culture of ownership: • When each team member feels like a co-founder, productivity soars. • Implement profit-sharing or equity options to align interests. Remember, in Dubai's SaaS scene, it's not about headcount—it's about impact. A lean, premium team can outperform larger competitors, driving innovation and growth in our unique market. This is just the first of five key strategies I've seen drive SaaS success in the UAE. Over the next few days, I'll be diving into: 2. Founders as Sales Champions 3. Strategic Outsourcing 4. Perfecting Local Before Global 5. The High-Polish MVP Bonus: The 2-Step Value Proposition How to retain users by delivering core value almost instantly. Whether you're a founder, a product leader, or just curious about the UAE tech scene, I hope you'll join me on this journey. What's been your experience with team building in the UAE?Does this resonate, or have you found a different approach works better? Let's discuss in the comments. #UAETech #SaaS #StartupStrategy #ProductManagement #Founders

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