Dubai: Although an avid pop-culture buff, 29-year-old Amna Ahmed never dreamt of an entrepreneurial career remotely related to her self-professed obsession. It was when she was looking for her first full-time job that she stumbled on an opportunity that piqued her interest.
"I had minimal experience right out of graduation and struggled to find a job in 2014. Six months after I graduated, I was still searching and randomly came across an ad on Facebook for an internship at Middle East Film & Comic Con (MEFCC). Being a fan of the event and having attended most of them over the years, I decided to apply, and as luck would have it, I was hired as an intern.
"I’ve always been a pop-culture enthusiast, so landing an internship with MEFCC was the dream job with hopes of furthering my career in the same industry. While I started my career learning about popular culture as an industry, I continued with the company till 2019, earned a salary of Dh12,000 as a junior graphic designer, and worked with brands like Marvel and Disney."
From full-time employment to freelancing
With an ambition to be her own boss, Amna resigned from her job in 2019, to seek opportunities as a freelancer, and she was successful at finding them too, having earned a cumulative income of Dh130,000 from various freelance projects.
This was when she got to lead the design for Dubai's biggest gaming festival Insomnia Dubai, open-air family entertainment district Diriyah Oasis, e-sports event Nexus Cosplay Competition in Riyadh for gaming firm Wild Rift Arabia, annual Middle East wedding event Bride Show, among others.
Her roles included creating the brand, key visuals and 3D stand designs, and marketing it. However, once the pandemic hit, all her freelance prospects were on hold, leaving her desperate for a job or opportunity. Amna didn’t want to give up just yet, an attribute she credits her father, so she came up with an idea to start an e-commerce platform selling on-demand pop-culture merchandise.
From a young age, she was taught to be financially independent. During her university years, she worked at several tutoring jobs to afford the extra expenses of architecture school. "I have always adopted the 70-30 saving approach my parents instilled in me. I always budget my finances to take care of my obligations first and leave the rest in my savings account," Amna added.
Doing business came out of necessity
However, Amna admits that her idea of doing business came out of necessity, and it was her savings that sustained her during the pandemic until she began an online marketplace where artists could create and sell pop-culture merchandise.
"With events shutting down, struggling artists like myself were scrambling for any source of income. Artists that used to exhibit and sell their products at events had no other means to making money, as most marketplace platforms required a US address for signing up or a joining fee," she added.
So in September last year, Amna went on to officially launch a marketplace where struggling artists could showcase and sell their work all year round and make steady income outside of any event period. Six months into the launch, she added that they now have made Dh50,000 in sales so far.
The on-demand portal offers merchandise like t-shirts, wall art, mugs, caps and such, with pop-culture designs from regional artists. It is produced when the order is placed, and customised to the shopper's needs.
How did you fund your business, manage costs?
Amna's business is self-funded by pooling her savings, and that of her business partners - Arafaat Ali Khan, co-founder of MEFCC, and Haroon Tahir, an experienced marketer with a portfolio of clients.
"We pooled our savings to kick-start the first version of the e-commerce platform. We initially invested Dh250,000 and pitched it to investors, after which we successfully secured funding through our holding company Waverider Entertainment, an IP [Intellectual Property] content creation and management company."
1. 30 per cent of the cost goes into marketing, including Search Engine Optimisation (SEO) and social media boosting
2. 20 per cent goes to developing the website, constantly upgrading and managing it
3. An additional 20 per cent made up staff salaries
4. Working capital, operating liquidity available to a business, comprised 15 per cent, and the remaining 15 per cent went into office space, utilities, and visa costs.
Amna's business tip: Never make assumptions about your target audiences
During the launch phase, Amna's biggest challenge was setting up an on-demand production system and creating quicker deliveries. "The infrastructure for on-demand production is scarce in the region as suppliers operate on bulk shipments," she explained.
"Independent artists in our region are generally used to selling their merchandise at annual events. With a unique business model for the region and needing more on-demand artist marketplaces in the GCC, it took a lot of work to convince artists to sign up and believe in our platform initially.
"Also, we had to spend significant time with the artists to educate them in person on how we work as a platform and the value it brings. We did this through virtual meet-ups and in-person events."
Amna's money rule: Have multiple incomes, only spend what you earn, avoid using credit cards
She evidently believes in having multiple income sources, whether it's through hobbies or investments, given that she began her career with an unpaid internship and took freelance gigs on weekends that let her maintain her full-time work and helped her make ends meet.
Amna approach to money has always been to use what you earn and avoid using credit cards. This frugal approach has benefited her in the business, where she invests only in the essential line items with the highest returns.
"I haven't planned for my retirement yet, but I have invested in a few real estate properties and dabbled in cryptocurrency," she said, when asked about her investment plans for her future.
