RIYADH: “If you don’t channel your passion for executing a business, then you simply have a hobby,” Essa Behbehani said at the Misk Global Forum on Tuesday.

The CEO of Prepline, a food and beverage investment and development company, made the statement during the panel discussion “Dream, Do, Dare: The Entrepreneur’s Cookbook,” which discussed core business skills, provided guidance on overcoming common startup challenges, and offered essential advice on scaling enterprises through funding.

“Passion is one of the main elements you need to build a business on, but it is not the main element,” Behbehani said.

He outlined the four key roles in business success, saying: “You are either an investor, manager, developer, or craftsman. Each one needs the other element to succeed.”

Reflecting on the evolution of business fundamentals over two decades, Behbehani noted a significant shift, and added: “Back then, (around) 2003 to 2004, the most important elements in a business were the product, resistance, and community approval.”

Behbehani noted that at that time, entrepreneurs like himself lacked marketing knowledge and did not have modern tools like social media to promote their businesses.

However, today’s business landscape demands different priorities, and he said: “These skill sets that you have need to be transferred into three main elements: You need to have a mindset, speed, and quality of product.

“Mindset nowadays is everything — without a mindset, you can never grow a business.”

He cautioned current entrepreneurs about the limitations of focusing solely on product excellence, asking: “What are you going to do with an amazing product without the right mindset and the right speed to execute it?”

During the same session, Abdullah Al-Saleem, the CEO and co-founder of Mushtari, a platform for business acquisition, shared valuable insights on when and how entrepreneurs should seek guidance for their ventures.

“Every time is the right time to seek help,” Al-Saleem said, highlighting the importance of continuous learning and consultation in business development.

He advocated for a two-pronged approach to seeking advice, distinguishing between general business consultants and industry-specific experts.

He added: “There are two people you have to seek help from: People that know generally about the industry, and people that know specifically about the industry.”

Using the restaurant business as an example, Al-Saleem described how he would consult general business experts for fundamentals like “hiring, culture, (and) cash flow,” while seeking industry-specific guidance for specialized operations.

However, gathering advice, he said, was just the first step. He noted that it was crucial to ensure team involvement in implementing recommendations.

He said: “When I take all these ideas or all these bits of advice, I brainstorm it with the team.”

This collaborative approach ensured that potential solutions were thoroughly evaluated before implementation, he said.

Al-Saleem further emphasized the importance of practical application through trial and error, and he always involved his team in the process.

He added: “They are the engine of the business and without the team, there is no business.”

RIO DE JANEIRO: Saudi Arabia’s foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday, Saudi Press Agency reported.

Prince Faisal was leading the Kingdom’s delegation during a session titled “Sustainable Development and Energy Transition,” SPA added.

Energy security represented a global challenge and an obstacle to development and poverty eradication, the minister said, calling for energy plans that considered each country’s circumstances and development needs.

Prince Faisal outlined three pillars for effective energy transition: Ensuring energy security, maintaining access to affordable energy, and achieving environmental sustainability.

He said that the transition required significant investment and time to maintain market stability while ensuring fairness and inclusivity.

Prince Faisal also highlighted the role of technological innovation in managing emissions and environmental impacts.

He said that Saudi Arabia’s investments in innovative technologies had resulted in one of the world’s lowest emissions intensity rates in oil and gas operations, adding that the Kingdom was also advancing its renewable energy goals, aiming for 50 percent of electricity generation from renewables by 2030.

Prince Faisal added that the Kingdom was also expanding its clean hydrogen production and implementing the circular carbon economy framework to repurpose emissions into valuable products.

During his address, the prince also outlined Saudi Arabia’s commitment to global sustainability through its flagship initiatives, the Saudi Green and Middle East Green programs, which are tailored to the country’s development needs.

He called for enhanced international cooperation to ensure energy transitions were equitable, inclusive and supportive of global development goals.

Prince Faisal expressed Saudi Arabia’s appreciation for Brazil’s leadership of the G20 in 2024 and extended well wishes to South Africa as it assumes the presidency in 2025, SPA reported.