Let’s Talk Business: Paul Sterriker on Navigating Challenges for MENA Entrepreneurs

Starting a business is hard enough, but doing it in the Middle East comes with its own set of challenges. You have to think about navigating funding gaps, building networks, and finding the right people to believe in your vision. It’s not easy, but it’s not impossible either. That’s where Paul Sterriker comes in. With over 30 years of experience as an entrepreneur and venture capitalist, he knows what it takes to turn ideas into thriving businesses—and he’s here to share what he’s learned.

In this Q&A, Paul gets real about the biggest obstacles you might face as an entrepreneur in the MENA region and how you can overcome them. Whether you’re just starting out or scaling up, his advice will give you practical steps you can act on today.

Q: Paul, what do you see as the biggest challenge for entrepreneurs in the MENA region?

Paul Sterriker: It has to be access to funding. I hear it all the time—great ideas stall because entrepreneurs can’t find the backing they need. It’s not just about securing capital; it’s about building trust with investors. The region has so much potential, but there’s still a gap when it comes to connecting talent with resources. That’s why I focus so much on bridging that gap, creating opportunities for startups to meet investors who believe in their vision.

Q: What advice do you have for entrepreneurs struggling to secure funding?

Paul Sterriker: First, know your numbers inside out. Investors want to see that you’re serious, that you’ve done your homework. Be clear about your business model, your target market, and how you plan to grow. Also, don’t just pitch your idea; pitch yourself. Remember, investors are backing people, not just concepts. Show them why you are the right person to bring this vision to life.

Also, don’t wait for opportunities to come to you. Go to networking events, pitch competitions, and even casual meetups. You never know who you’ll meet. And if you’re struggling to get face time with investors, focus on building traction. Show that your idea works, even on a small scale. Nothing grabs attention like results.

Q: Let’s talk about mentorship. How important is it for entrepreneurs in this region?

Paul Sterriker: It’s crucial. No one builds a business alone. Having someone who’s been through the ups and downs can save you from making costly mistakes. A mentor doesn’t have to have all the answers—they just need to offer perspective and ask the right questions. And it’s a two-way street. As a mentee, you have to be open to feedback and willing to learn.

One of the things I’ve worked on is creating mentorship networks here in the MENA region. It’s not just about connecting entrepreneurs with experts; it’s about fostering a sense of community. You need people in your corner who believe in you and want to see you succeed.

Q: What about market competition? How can entrepreneurs navigate that?

Paul Sterriker: Research is everything. Before you launch, take the time to understand your target market—not just at a surface level but deeply. What are the local needs, preferences, and pain points? How is your product or service solving a specific problem?

Also, be flexible. What works in the UAE might not resonate in Saudi Arabia or Egypt. Adapt your strategy to fit the local culture and market dynamics. Another thing is finding your niche. Instead of trying to be everything to everyone, focus on what makes you different. Specializing can help you stand out in a crowded market.

Q: Any final advice for entrepreneurs reading this?

Paul Sterriker: Don’t let fear hold you back. Starting a business is risky, and you’re going to face setbacks. That’s just part of the journey. But if you believe in what you’re doing, keep pushing forward. Surround yourself with people who inspire you, and don’t be afraid to ask for help. Remember, every successful entrepreneur started where you are now—full of questions and maybe even doubts. The difference is they kept going.Want to connect with Paul and learn more about his programs? Follow him on Instagram at @paul_sterriker.

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