“Success is a journey, not a destination.”
— Ben
Sweetland
What do a curry
restaurant, a car rental agency, a gourmet delivery service, a heavy
equipment supplier, a mall and hotel development, and a vision for an
investment bank have in common?
Apart from the fact that all but
the last are functioning businesses, they have a common denominator in the
creative entrepreneur dedicated to making his businesses new. Faisal Kanoo
believes firmly in the importance of innovation.
What has he done
that’s so different and creative?
The Gourmet Taxi Service was
something that had never been tried before in Bahrain. Faisal and his
partners decided that there was a need for a special service that would
deliver meals from restaurants to homes, making it possible for customers
to phone and order their lunches or dinners delivered at a certain
time.
The novel concept worked so well in Bahrain that a branch has
been opened in the UAE and, after a year of operations there, is thriving
as well.
Continental Auto Rental evolved out of Faisal’s
dissatisfaction with local rental car agencies. After opening in November
2004, this business also expanded with a branch in the
UAE.
According to Faisal, Continental Auto does things that other
agencies don’t offer: “We charge less and offer unmatchable services:
deliver the car, replace it immediately if it breaks down and treat our
customers well.
What motivated Faisal to get into the car rental
business? “I found other rental agencies rude. A light bulb went off; I
realized a car rental company with a heart was needed.”
Faisal
thought of Curry Country in London in June 2003. “My favourite cuisine is
curry,” he says. “Curry Country involved a unique idea for featuring
curries from around the world. India, Malaysia, Thailand, Singapore,
Vietnam, Burma, Iran, Cambodia and Sri Lanka all have different curries;
and Curry Country has them all. We’ve been open for a year every day from
12 noon - 4pm and 7pm - 11pm.”
Since he reads a lot about
entrepreneurs, Faisal put together a business plan and came back to
Bahrain, after having just read a book about Howard Schultz who started
Starbucks. “I thought what he did to coffee, I’d like to do with curry. He
had to educate people. I don’t,” he says.
“There’s no competition,”
says Faisal, “because we’re a niche restaurant. The restaurant industry in
Bahrain is very competitive and lots of fun. I thrive on finding myself a
niche and working it. I love greeting people, interacting with them,
seeing the expressions on their faces when they appreciate something I’ve
created; and love creating something different. I would like to see more
unique, clever concepts in the restaurant business.”
Faisal says
they’re opening another branch in Juffair with future franchise plans on
the cards. “I want to franchise, so we’re opening the second Curry Country
in Juffair in August. We’ve been approached for the franchise. We kept the
same design and it will be with 12 other food outlets.”
The idea of
creating a food and beverage concept in Bahrain and exporting it is novel
according to Faisal. “I’m bringing a franchise director who’s qualified
and can put something together. We’ve already been approached by a British
and a Dutch company, so we know there’s a market.”
As an innovator,
Faisal has to think about the restaurant’s menu architecture, the design
and all of the details of the operation — all headaches. The franchisee
has these things done for him, which makes franchising attractive to both
the originator and the franchisee.
Faisal finds entrepreneurship
invigorating. “The odds are against you from the minute you have a
thought. The market is very competitive in a global environment where you
have to use strategy. Even then you can have the best idea and best
location and still fail. Luckily, we haven’t yet had any
failures.
“We have other projects in the pipeline,” says Faisal.
“We’re starting a property development company for a shopping mall and
hotel in Amwaj. We have exciting plans for the shopping mall to be opened
in two years time, with a new theme that I can’t reveal yet.”
Starting
out
What led Faisal into all of these creative business
ventures? Thinking of joining Bahrain’s foreign service, he studied that
at Georgetown University in Washington D.C; but when he finished, he
decided to opt for a business career instead. Is he sorry that he didn’t
major in business? Not at all. Apart from anything else, he learned about
politics and diplomacy at Georgetown.
Traditional business training
often stifles innovation and creativity according to Faisal, who says,
“Business graduates often spend a great deal of time analysing everything
and never get around to taking the leap into developing new
ideas.”
After finishing his degree in 1995, Faisal went to work for
Arthur Andersen as an auditor. That was before the recent problems that
the company had with Enron. While there, Faisal got to examine many
businesses and learned about their operations and approaches.
His
year with Arthur Anderson was also a traditional Kanoo family disciplinary
exercise for Faisal before joining the Yusuf bin Ahmed Kanoo Company as a
member of the family. “It’s Kanoo policy to have family members work
outside of the company for a year before joining the family business,”
says Faisal. “That’s needed to get discipline and to avoid having
non-family members treat you with kid gloves.”
When he finished
that year, Faisal joined Kanoo Shipping in Saudi Arabia and worked there
for two years. He was then promoted to commercial group manager in
Bahrain, a position that he still holds and which involves him in a
regular daily work routine from 8am to 3pm.
Someone once said “a
successful man continues to look for work after he has found a job.” That
certainly fits Faisal. “I was happy working with the family company,” he
says, “but there was more that I wanted to do. With two others, we started
Gourmet Taxi. After we got that up and running, we started the car rental
company. Both are running well.”
How does he manage all of this
heavy workload of a regular management job in his family’s company as well
as all of the innovative business developments he’s been involved in? “I
need more than a 9 to 5 job,” explains Faisal. “Entrepreneurship makes it
possible to feel the adrenaline rush of creating something.”
Several notable business successes have stimulated Faisal’s drive
to be a successful entrepreneur, including Donald Trump, Richard Branson
and perhaps most of all Prince Alwaleed bin Talal Alsaud, the self-made
Saudi Arabian businessman who Forbes magazine tagged as the world’s fifth
richest person.
Looking
forward
What’s on the cards for the future? “My next project:
doing things on a grander scale--an investment bank,” says Faisal
enthusiastically. “There’s too much emphasis on real estate — we have
enough grandiose real estate schemes and development. There are a number
of beautiful companies that should be developed”—and thus the importance
of a new investment bank.
Faisal is convinced that companies which
are under-funded or run badly need an organization like Investcorp to turn
them around and to develop entrepreneurship on a grander scale. “There are
no regional banks focused on regional investment. There’s also a need for
an investment bank with acquisitions, venture capital, a bank involved in
creating and growing regional powerhouses.”
How does Faisal manage
to keep adding more new business ventures? “I’m proactive rather than
reactive. I don’t have enough hours in a day, though I have competent
management in the various businesses. I’m involved in everything I do. I
don’t micro manage. I get people who are experts and let them go and do
their jobs.”
His obsession with new ventures, which he considers a
personal weakness, takes over when he has a creative idea and feels that
he has to keep after it until in comes to fruition. At those times, he
gives up his exercising, which he admits is not good for his physical
health; and he foregoes relaxing with films or books, taxing his emotional
health.
Faisal and his wife, Sahar Juma, have three boys: Saif,
who’s six, Hamad four-and-a-half and their youngest, Khalid who’s two. His
greatest lesson in life: “a loss in the family taught me to appreciate
one’s family.” He says it’s a Herculean task balancing between businesses
and family. He also finds it difficult to find time to relax, but he does
it by weight lifting.
As a founding member of Bahrain Young
Entrepreneurs last year, he wanted entrepreneurs with the same mindsets to
get together to exchange information. He also belongs to the Young
President’s Association, which helps with business issues that are
different from those employers in large organizations face.
Giving
advice about creativity, leading modern poet Ezra Pound wrote, “Make It
New.” Faisal Kanoo certainly follows the poet’s prescription for
creativity.