In this insightful Q&A, Jawad Maaloum, founder of MLnetworks, shares his entrepreneurial journey and the lessons learned along the way. With a background in the telecommunications industry, Maaloum started his business to introduce new ways of working and drive positive change in the ecosystem.

Maaloum emphasizes the importance of taking action, iterating on ideas, and continuously learning from customers' needs. He highlights the challenges of customer acquisition and the value of perseverance in overcoming obstacles. Maaloum's advice to aspiring founders is to embrace action, understand customers' requirements, and remain resilient in the face of adversity.

Why did you choose to start a business?

Having worked within the telecommunications industry for a considerable time, I gained valuable insights and experience in the field. However, I realized that there was an opportunity to contribute to this ecosystem in a more impactful way by introducing innovative approaches and fresh perspectives. I felt compelled to start my own business to address the gaps I observed and to drive positive change within the industry. By establishing my own venture, I aimed to bring a new way of working that could enhance efficiency, improve customer experiences, and ultimately shape the future of telecommunications.

How did you start your business?

Starting my business was an iterative process that involved taking action and continuously refining the initial idea. I began by clearly defining the problem I wanted to solve and the value I intended to deliver to the market. From there, I developed a minimum viable product (MVP) that encapsulated the core functionalities of my offering. I then engaged with potential customers, seeking their feedback and insights to validate the concept and identify areas for improvement. Through this process of doing, learning, and iterating, I gradually evolved the business model, fine-tuned the product, and established a solid foundation for growth.

What do you wish you'd known before you started your business?

Looking back, there are several aspects I wish I had a deeper understanding of before embarking on my entrepreneurial journey. One crucial element is the importance of a well-defined go-to-market strategy. Having a clear plan for reaching and engaging target customers, establishing distribution channels, and effectively communicating the value proposition would have streamlined our initial efforts. Additionally, gaining a thorough understanding of the customer journey, from awareness to adoption and retention, would have allowed us to optimize our processes and deliver a more seamless experience from the outset. These insights, along with many others, were acquired through hands-on experience and continuous learning along the way.

Did you have any support on your journey?

My entrepreneurial journey has been a constant learning process, characterized by self-discovery, adaptability, and personal growth. While I may not have had extensive external support, I found tremendous value in the lessons learned through firsthand experience. Each challenge faced and obstacle overcome provided invaluable insights that shaped my understanding of the business landscape, customer needs, and the intricacies of running a successful venture. I embraced a mindset of continuous learning, seeking knowledge from various sources, including industry experts, mentors, and fellow entrepreneurs. This approach allowed me to navigate the complexities of starting and growing a business, while constantly evolving and refining my strategies based on the knowledge gained along the way.

What is your greatest challenge as a business owner?

At present, the most significant challenge I face as a business owner is acquiring customers. Building a strong customer base is essential for the success and sustainability of any business, and it requires a multi-faceted approach. Attracting and retaining customers involves developing effective marketing strategies, clearly communicating the value proposition, and delivering exceptional products or services that meet their needs. It also entails building trust, establishing brand credibility, and fostering long-term relationships with customers. Overcoming this challenge requires a deep understanding of the target market, continuous refinement of the offerings based on customer feedback, and the ability to adapt to evolving market dynamics. By focusing on customer acquisition and consistently delivering value, I aim to establish a loyal customer base that will drive the growth and success of my business.

What advice would you give to your past self before opening your own business?

If I could go back in time and advise my past self before starting my own business, I would emphasize the importance of thoroughly understanding customers' needs. While having a innovative idea is crucial, it is equally essential to ensure that the product or service being offered aligns with the genuine needs and preferences of the target market. I would encourage my past self to invest more time and effort in conducting market research, engaging directly with potential customers, and gathering insights into their pain points, desires, and expectations. By developing a deep empathy for the customer and gaining a clear understanding of their requirements, I would be better equipped to create solutions that effectively address their challenges and deliver tangible value. This customer-centric approach would lay a solid foundation for building a successful and sustainable business.

Reflecting on your path to entrepreneurship, what key piece of advice would you offer to aspiring founders?

Reflecting on my own entrepreneurial journey, the key piece of advice I would offer to aspiring founders is to embrace action and perseverance. Starting a business is an exhilarating yet challenging endeavor that requires a proactive and resilient mindset. It is essential to move beyond the realm of ideas and take concrete steps towards bringing your vision to life. This means being willing to take calculated risks, make decisions based on available information, and continually adapt as you learn and grow. At the same time, perseverance is crucial, as the path to success is rarely smooth or straightforward. Aspiring founders must be prepared to face obstacles, setbacks, and moments of uncertainty. It is during these challenging times that perseverance becomes the driving force, enabling entrepreneurs to push through, find creative solutions, and maintain their commitment to their goals. By combining action with unwavering determination, aspiring founders can navigate the complexities of the entrepreneurial landscape and increase their chances of building a thriving and impactful business.