Wasim Hamoud: Entrepreneurial Insights from Saudi Arabia’s Innovator

Meet Wasim Hamoud, a passionate entrepreneur with expertise in software engineering and business management. Discover how he is transforming challenges into opportunities in Saudi Arabia’s dynamic business landscape, driving impactful solutions and fostering innovation.

Can you share a brief note about yourself?

I’m Wasim Hamoud, a passionate entrepreneur with a background in software engineering and an MBA from KFUPM. Over the past decade, I’ve gained extensive experience in product management, marketing, and sales, leading B2B innovations in Saudi Arabia. My passion lies in building products and growing businesses, and I’m committed to creating impactful solutions that address real-world challenges

Why did you choose to start a business?

I wanted to create something meaningful that would positively impact the business landscape and add value to the country where I live. Building and growing businesses has always been my passion, and starting a company allows me to craft a success story that I can be proud of. I aim to address challenges in a way that fosters growth and contributes to the economic progress of the region.

How did you start your business?

Starting a business required stepping out of my comfort zone and leaving a secure career to pursue my vision. The early stages were all about validating the idea, understanding market needs, and finding the right approach to penetrate the market. Overcoming challenges such as resource constraints and learning how to navigate a competitive landscape were key parts of the journey.

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

I wish I had understood the complexities of market dynamics and the time it takes to establish a strong foothold. I also underestimated how critical it is to deeply understand customer behavior and refine the business model to align with their needs from the outset. Having clarity on these aspects would have saved time and resources in the early stages.

Did you have any support in your journey?

Yes, support from mentors, networks, and industry peers has been invaluable. They provided guidance during critical decision-making moments and helped me navigate challenges. Learning from their experiences and leveraging available resources allowed me to progress faster and avoid common pitfalls.

What is your greatest challenge as a business owner?

Market penetration and acquiring customers remain the biggest challenges. Understanding market dynamics, navigating competition, and achieving positive unit economics while scaling the business require continuous learning and adaptability. Additionally, balancing the need for innovation with compliance and fraud prevention is critical to building a sustainable and trusted business.

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

Take the time to deeply understand the market and refine your sales skills. Sales are the foundation of any business, and without them, it’s impossible to build or scale a company. Also, be prepared for a journey that requires persistence, adaptability, and a willingness to learn from setbacks

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

Before starting your own business, gain experience in different areas, especially sales. Knowing how to sell your vision, product, or idea is critical to success. Focus on solving real problems and delivering value, but don’t try to do everything yourself—build a strong network and a team that complements your skills. Most importantly, stay resilient and committed to your mission, even when challenges arise.