In a highly competitive business environment such as the GCC’s, it can be tough for SMEs or smaller regional corporates to navigate challenges and identify areas for growth.
This is where ToughLove Advisors, a consultancy services startup, comes in to leverage the experience of its founders – most of whom are former C suite executives – in supporting regional companies looking to grow their business through, as the name implies, a straight-forward, tried and tested approach.
In an exclusive interview, Arabian Business speaks to two of ToughLove’s partners CEO Khaled Ismail and COO Kamal Dimachkie to learn more about the startup’s expansion plans, business model and what differentiates them from other consultancies.
What are the main challenges in the region’s consulting ecosystem in your opinion?
KD: Like most industry sectors, the consulting ecosystem has been affected by the developments of the last two years and this has brought additional pressures to the sector.
We believe there are three overarching reasons as to why companies use consultants: either they are looking for expert advice on a specific area or they want an independent outside view on a challenge or they could be looking for someone to drive an initiative which they may not have any experience or expertise in-house.
As such, there is an underserved client base out there which is hungry for, and can benefit from, our experience, help and support to deal with a specific challenge they might have or to scale the business – and here we are not talking about the well-structured and well-funded multinational companies.
The reasons why this unmanaged gap exists is down to a few reasons, namely:
Overwhelm: Some companies are not used to using external consultants and when they consider them, they are overwhelmed with who to choose.
Lack of compatibility: At times, there is a wide gap between client and consultant. This ranges from not speaking the same language, all the way to finding them too expensive.
Bad experience: Other companies have had negative experiences with consultants and are worried about a repeat experience.
Lack of support in implementation: Some companies may obtain appropriate diagnosis and advice on the way forward, but they are left to execute the recommendations on their own.
ToughLove
Kamal Dimachkie, COO of ToughLove Advisors
Given the above, what market need is ToughLove addressing?
KD: ToughLove makes business advice accessible to those who do not have the people, capability, capacity, or the knowledge to manage this growth or even the time or funds to experiment with theories and best practices.
We commit to tell these businesses what they need to hear, not what they want to hear, in a peer-to-peer approach which is driven by co-creating solutions that are market-ready. We recognise that often these assignments leave businesses vulnerable during implementation, and we are prepared to continue partnering with them throughout that phase.
ToughLove partners have acquired most of their learnings from hands-on, real-life experience in leadership positions and by working with, and on, some of the region’s more successful brands and organisations over the past few decades.
As individuals, we have consistently been tasked with challenging and highly demanding agendas in a region that has been pegged as a growth potential for the past couple of decades. Proof of that is the massive growth of home-grown organisations and brands. Today, SME and family-owned businesses must compete with the scale, financial power, and broad expertise of international organisations and brands.
We believe that our global expertise and rigor coupled with a considerable level of regional knowledge and understanding of cultural nuance provides business leaders, who are eager to up their game, with an opportunity to deliver growth. We collaborate with them via a straight-talking, tried-and-tested approach that brings real-life, fit-for-purpose solutions that are devoid of theory. We are not consultants; we are proven ex-C-Suite practitioners who have been there, done that and delivered growth.
Arguably, this formula might not appeal to all, but that’s OK. Growth and progress often require ToughLove and that is in our DNA. So, those who really do seek support and advice will value the journey with us and the results it will enable them to achieve.
In the post-coronavirus economy, what changes do you foresee in the way consultancy works? And how will ToughLove adapt to that?
KI: As the world moves online and to the clearly imminent hybrid model, a lot of people will make themselves available to the gig economy. So, we expect to see a lot more people working part time or as freelancers. Not all can be classified as consultants, but they certainly can fulfil clients’ external resource needs and the benefit and efficiency that comes with it.
ToughLove
Khaled Ismail, CEO of ToughLove Advisors
Our formula is consistent with the idea of working in a hybrid setup, avoiding the fancy, traditional and expensive offices, which means that our costs and overheads will be kept to a minimum. This, in turn, means that our services will be accessible to our clients, and their money will work harder to achieve their desired objectives.
Describe your funding journey and business model.
KD: The company has been self-funded by the partners- mostly by putting in their time and knowledge. We have no plans or need for independent funding at this stage. Down the road, we may revisit this position should it be in the interest of our clients, provided it also allows us to deliver on our purpose.
Our model is nimble and lean by design and relies highly on activating the best fit partner and advisor for the challenge we are given with minimal worry about our overheads. Which means, our investment comes mostly from our time dedicated to get the business and deliver on the mandates and challenges.
Being self-funded also allows us to remain true to our ethos of delivering co-created solutions that are practical and proven, free of jargon and theory, and tailor-made to our clients’ needs. All of this without the pressure of external investors or the urgency to generate revenues while compromising what we do best which is making business better.
What countries does ToughLove currently operate in and what are your expansion plans?
KD: We are starting our operations targeting both UAE and Saudi Arabia for now. Our plan to expand to other countries in the region will be dictated by the demand from these markets since we have no geographical restrictions.
ToughLove
SMEs and family-owned businesses must compete with the scale, financial power and broad expertise of international organisations and brands
What is your business model?
KI: We have nine partners with over 250 years combined experience in the market. Each project will have a lead partner, supported by a second or a third partner depending on the project and areas of expertise needed. We will also deploy senior or junior advisors as necessary during the co-creation and implementation phases. Each advisor goes through a rigorous selection process to ensure that they live the values of ToughLove.
What advice would you give corporate leaders who are considering starting their own business?
KI: Don’t wait and over think your ideas and opportunities. The startup world is on steroids right now and the name of the game is who has the first mover advantage. So, we say think MVP (Minimum Viable Product) and go.
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