Educated in the United States, Sumit’s academic odyssey spans Biomedical Engineering, Business Administration, and culminates in a Juris Doctor degree specializing in Intellectual Property Law. His academic pursuits were not mere milestones but catalysts for his multifaceted career. From delving into research science to navigating the intricate realms of legal intricacies, Sumit’s trajectory underscores his thirst for knowledge and adaptability across industries.
Returning to Dubai in 2012 marked a pivotal chapter as Sumit immersed himself in the family business, infusing traditional values with a global perspective garnered through his transcontinental education. Steering the helm of a family-owned enterprise, Sumit balances the dichotomy of tradition and innovation, spearheading growth while upholding ethical principles.
Tell us about yourself and your story, how did you end up where you are?
Born and raised in Dubai, I am a quintessential Dubai-boy who grew up with the city. I was educated in the United States in biomedical engineering, with a Master in Business Administration, and then pursued a Juris Doctor of Law in Intellectual Property Law.
My life thus far has been an amalgamation of unique experiences at every step, especially as I dove headfirst into the deep end of the family business upon my return to Dubai in 2012.
I am lucky to have had a global perspective in business and education across the Indian subcontinent, the United States and the United Arab Emirates.
I continue to navigate the intricacies of our family-owned business while balancing traditional values with the need to incessantly grow and expand!
What is the biggest lesson learned in your journey?
My journey has been fraught with challenges, wins, losses, opportunities, hits, and misses. There is a long way to go and I learn lessons nearly every day. The lesson that has stood out for me the most is the need to be perpetually driven towards a better future. Being stuck in the past can be the greatest detriment to an opportunity in waiting or a solution to the problems you currently face. Learn from the past but perpetually hunger for the future.
What separates your family business from competitors?
Our value system is one that is not only steeped in tradition but that of morals and ethics. We do business on a foundation of the golden rule: How would we expect to be treated if we were in the place of those that are across from us. Our clients, vendors, suppliers, partners, and associates know that no matter the situation or circumstance, we will always do the right thing. This builds trust, transparency, honesty, and integrity in our relationships. This is often rare in our line of work and the industry as a whole.
How do you see yourself in 10 years?
The rate at which the world is advancing and global events are shaping each industry, it is rather difficult to truly envision what 10 years holds for us all. If I were to dream, I would like to be heading our companies’ first consolidated Private Equity fund that focuses on niche technologies across our sectors. It would bring about technology-driven efficiency and growth in often ignored sectors like scaffolding and equipment.
What keeps you motivated every day?
I am most motivated when I strike the delicate balance between my professional drive and my passions outside of work. These include writing, reading, working out, hiking and mountaineering, and incessantly learning new activities and habits. I am also at peace when I am in tune with my sense of discipline and routine.
What is your favorite quote of all times?
One quote that has stuck with me throughout high school and my formative years has been one that my father repeated to me innumerable number of times: “If you fail to plan, you have planned to fail”. Never before has it resonated with me as much as it has during the past 10 years of my foray in business.
What are the main factors that have influenced your journey?
The main factors that contributed have been (1) my education, (2) my drive to continually learn and not fear new experiences and knowledge, (3) my ability to see every transaction from that of the other party, and (4) looking for perpetual win-win situations through collaborations and partnerships. It could be a school project, a master’s thesis or a partnership, these factors have always helped me thrive.
Who is your role model or inspiration in your life?
My current role model is Alex Hormozi, who has built an empire on an investment strategy that leverages the power of knowledge. He represents the epitome of self-made success, achieving his first million at just 23 years old. His journey and approach resonate with me, inspiring me in my own endeavors.
What are the top 3 core values in life?
My core values are transparency, honesty, and integrity. Be who you are at all times. Do not put up a front for any reason and the world will love you for who you are. Those that don’t aren’t meant to be!
Always imagine a better future. Never rest. I live by this value and it keeps me excited to know that I am always envisioning a better utopic future. It keeps me driven and enthusiastic. This enthusiasm is infectious!
What are key moments / turning point of your life?
Going to the US to start my higher education was a dramatic shift that I didn’t give enough credit to. I learnt to live by myself, developed a disciplined lifestyle, became independent, and also discovered who I really was.
Surprisingly, coming back to Dubai after being in the US for 10 years was an even greater shock that changed me in ways I am still learning. I suffered a culture shock seeing Dubai transform from a simple dot on the global map in 2002 to the bustling and ever-changing metropolis that it is today. I struggled to find where I fit in here and to identify the business pulse of the city as it incessantly moved forward.
What personality traits makes a good leader?
Empathy and empowerment are critical factors that, I believe, are the cornerstones of making a good leader. Other factors include having clear values that all stakeholders are not only aware of but everyone wholly and unequivocally buy into.
An inclusive work environment where all opinions are welcome and the team feels empowered enough to raise it to the leader for the benefit the company and the team, as a whole.
What is the best and the worst part of your job?
Even with the advent of a variety of AI technologies, I have yet to see the repetitive tasks become redundant or become self-managed. This is the most boring part of the job. Automation does not always require generative artificial intelligence, but rather a system that finds a way to simplify tasks incessantly so that the taskmaster focuses on growth and optimization.
The best part of my job is meeting people from all walks of life. No matter where they hail from or what work they do, I learn a tremendous amount from them during each interaction. This is what excites me and fuels me each day. Not a day passes where I don’t hear or learn about something amazing that I had no clue about prior.
What is the biggest challenge you have faced in your career? How did you overcome it and what did you learn from it?
From the happiest day in my life when we were awarded our largest project till date, I faced my greatest challenge exactly a year later when the project was successfully handed over but the client and my company went into a commercial dispute. From badly executed contracts to insufficient communication, I struggled to reconcile all details and data on our end to prevent ourselves from suffering significant financial losses. I had a crash course in contracts management, dispute resolution, legal filings, delay calculations and arbitration. I am still fighting that battle but have learned significantly from it. I have since improved our contracts, our systems, our communication standards, and our relationships with our clients. Communication remains paramount. We are yet to face a similar challenge 6 years later!
What do you look for when outsourcing or hiring?
Those that we outsource to or hire into our organizations should, first and foremost, share our value system. If you cannot reconcile with the ethics, morality, and transparency of our business processes and approaches, you will likely not settle in for long. Transparency through communication is key. It is no different from a personal relationship; in this case, there is a strong commercial impact.
What strategies do you use to stay ahead of the curve in your industry?
As the CEO of a diversified company operating across the USA, UAE, and India, staying ahead of the curve is paramount. I prioritize constant market analysis, monitoring industry trends, and staying attuned to technological advancements. Regularly engaging with industry forums, attending conferences, and fostering strategic partnerships helps us anticipate shifts and capitalize on emerging opportunities. Continuous learning, agility, and a forward-thinking mindset are integral components of our strategy to navigate the dynamic landscape of our diverse industry.
In what ways do you foster innovation and creativity within your organization?
Innovation comes in a variety of ways. It can be systems driven, people drive, technology driven, or through unbridled disruption. Creativity can also rear its head when we make time to listen. Solutions, and often radical ones, are lurking in the minds and thoughts of our friends, employees, colleagues, and partners. Revolutionizing processes and systems is one way to bring innovation into daily tasks. Imbibing technology to remove repetitive and non-value-adding tasks is another way to trim the fat. Keeping an open mind that welcomes ideas and thoughts, be it self-driven or from others, is usually the best way.
How do you balance the pursuit of wealth and success with personal fulfillment and happiness?
This is easier than we wish to believe. Having hobbies and passions is critical. Traveling often is another way to disconnect, re-energize, and realign. Spending time with family and close friends is yet another way to recharge your social battery before you pour more energy and time into work. When you have a driven approach towards work and your passion, driven by a clear and focused mind, wealth will inevitably follow.
Name three books that changed your life and what did you learn from them!
Blue Ocean Strategy – W Chan Kim
This book taught me how to change my way of thinking about our traditional businesses and business practices to pursue differentiation. This approach opens up new demand channels and often creates new market sectors/segments. What are you doing differently and what can you change about what you do in your business every day?
Andromeda Strain – Michael Crichton
This was the first book that I read in the science fiction drama. It opened me up to the field of science and inspired me to pursue science for my higher education. It shaped all my education and research decisions subconsciously.
Lord of the Rings – JRR Tolkein
This book opened my mind up to the wildest form of fantasy-based imagination. It showed me a world of literary creation that inspired me to not only read more but to also start writing and express myself. It is still my favorite read.
Any tip/advice for young professionals or entrepreneur?
I have yet to experience the vast landscape of the business environment. It is ever-changing, and requires constant movement and adaptation. I might not be the ideal mentor or advisor to younger professionals or entrepreneurs. However, I do have some points I would always espouse, if I was younger or embarking on an entrepreneurial journey:
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Celebrate losses. These are the best ways to learn. Some teachings might be expensive but you will prevent greater losses in the future.
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Keep yourself uncomfortable. Revel in change and be ready to push through difficult and challenging circumstances. You will come out stronger.
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Find a mentor who you respect and feel you can incessantly get guidance from.
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Keep on reading and learning. Never stop the learning journey even for a day.
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Welcome technology in every possibly way. Efficiency and optimization is always around the corner. There is no end to it. You are more likely to improve the business than bring it down if you adhere to constant improvement through technological advancement.
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Balance your social and professional life. Your social life can also turn into a very fruitful networking opportunity as you strengthen relationships in the community.
www.linusinternational.com
https://www.linkedin.com/in/sumitpathak/BY Egli HAXHIRAJ, Anamaria MESHKURTI and Jonida GJUZI
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