Synergia One chairman and CEO Fred Mouawad’s unique ability to spot a lucrative deal when it presents itself has played a deciding role in the way he manages the diverse number of companies he heads today.
Businessman Fred Mouawad indulging in his favourite pastime, scuba diving.
Known as the “serial entrepreneur”, the multifaceted businessman founded Synergia One to group his eight companies, which include the 120-year-old family jewellery business Mouawad and the popular Coffee World chain.
Life caught up with the debonair business executive on a balmy weekday afternoon. Dressed in a smart casual suit, he first came across as politely reserved and somewhat aloof, but gradually let down his guard as the interview progressed.
Mouawad said the start-up stages of business ventures are often the most enthralling and challenging.
"Having an idea, putting the resources together and building it in itself is highly rewarding. Once it starts and reaches a certain size, it’s a matter of managing it and growing it, and this stage becomes less exciting for me.
"In fact, it becomes monotonous, so I need that spark which comes with start ups. That is why I enjoy starting new ventures, so when I look at my portfolio, the companies that are more mature, while being good businesses, hold less of a challenge for me personally.’’
To diversify, Mouawad said it is important to identify opportunities, asking yourself how you can build something of significance, something that would contribute positively to society and of course add value to your company.
His 24 years in Thailand, where most of his companies were incubated, led him to become one of the most successful expat entrepreneurs in the country.
“What inspires me is the love to improve myself and the world around me. And what drives me is learning and figuring out how what I have can make an impact on society.’’
"Inspiration for me also comes from the books I read, which cover a large array of subjects. I also love to learn more from life experiences than just theories. I also like the academic side of things. In fact, it is not just education that I hold in high regard, but the application of it,” he said.
There is a sense of humility in Mouawad’s character, however, that precedes his reputation. He downplays his role in the success he’s had, for example, attributing much of it to his employees, for whom he strives to create a pleasant working atmosphere.
"A nurturing culture is a culture where bosses care about their subordinates. It is their desire to develop them for not just rational purposes, but also to see them have a positive attitude towards the company, energised and motivated towards their work. Employees want to have clarity on the objectives of the company. They need to feel they are having a real impact on their work. To get the best out of people, you have to tangibly show that you care.’’
Mouawad said it is important for people in leadership roles to be good listeners and keep a pulse on their business. They should also surround themselves with a diverse group of professional managers who can offer them sound advice. The world is becoming increasingly competitive, he said, so the need to keep abreast of changes in the market and the ability to adapt are crucial tools that can take you a long way.
Mouawad said that the secret to his success is doing his best every single day. Staying hungry for all type of knowledge and avoiding complacency have attributed to his ability to successfully manage his companies. At an early age, he said, it was very clear that he had the chance to make an impact on society, so he earned an education and wisely used the opportunities that came his direction to embark on the journey of a lifetime.
Mouawad believes that his leadership qualities were cultivated during his boarding school days, where he was taught to be independent, while his go-getter personality came about due to his passion for motor sports, which built in him the confidence to never allow life’s obstacles to get in the way of his goals. He has also never looked at failures in a negative light, he said.
"I am a creative person so I have a portfolio of different companies. I see opportunities and I jump at it. I love the action of getting things done, [but] failure is a reality that people have to learn to accept.
"However, it is important that you don’t look at failure like ‘oh my God, I failed’, but rather look at the positive by saying ‘oh, I tried it this way and it did not work, so lets figure out if I can work a different way to achieve my goal’. You try again, and if you do not see value, you move on.”
For people who have the passion, but not the finances, to start their own business, Mouawad said help is always around the corner as long as the idea you have is a great one. There have been a number of entrepreneurs who have started with no money, he said, however they had the idea and the skills and surrounded themselves with the right people to help them get started.
It is pivotal to learn as much as you can in the areas you’re passionate about, he said. Become an expert, become the best in the business. When you are an expert you have an advantage and will attract people who are good in areas in which you need help.
Investors, said Mouawad, are willing to work with you if you are an expert in your field. You have the knowledge and passion they are looking for, so shouldering the financial burden is the least of your concern. Learn and be driven, he said.
“Go out there and do your networking, surround yourself with people that have lots of knowledge.”
