Big Ideas: “The Lebanese economy is a roller coaster of ups and downs but it’s people like me who can improve it”, With Christelle Khoury
Starting my own business in Lebanon has been a dream of mine since I was little. I want to contribute to the economic development of my country. I think Lebanon has a lot of potential and there is a lot entrepreneurs can do to help. I have always wanted to be a female entrepreneur. I admire every woman that can succeed in their career and raise a family at the same time and I want to be one of those women. I started working on a business idea few months ago. It consists of a solution for companies to manage their inventory better. Inventory is the biggest cost of every business and I want to help reduce waste while benefiting the customer. However, I believe I need more work experience to be able to launch my own business. Over the next few years I will continue researching whilst I work. I am waiting for the right moment and I don’t want to rush things.
Christelle Khoury is a Lebanese entrepreneur who travelled from Beirut to Britain in pursuit of a more practical business education. She hopes to take the fledgling Lebanese e-commerce market by storm.
Thank you for joining us Christelle. What is the entrepreneurship scene like for women in Lebanon?
The entrepreneurship scene in Lebanon is mostly male dominated. However, some women have still managed to create their own businesses and achieve great things. A large section of Lebanese society still believe that a woman cannot build a legacy on her own, because for if she does, she won’t be able to take care of her family as required. But what is required? I believe that when a man and a woman put their heads together, they can be there for their family and both be successful in their own careers. In the past few years there has been a slight shift, for example some private institutions and governmental institutions have started encouraging women in business by providing low debit interest rates and “women in entrepreneurship” awards.
What are opportunities for business education in the Arab World?
There are many opportunities for business education: some of them in the banking sector which is the strongest industry in Lebanon. There are other opportunities in every kind of business like every country around the world.
However, the problem in Lebanon is that not every business student is passionate about business. A lot of students are majoring in business because of a lack of direction. If a student doesn’t know what to do, most of the time they decide to enroll in a business program.
Why did you want to leave Lebanon to pursue a business education?
Leaving Lebanon to pursue my master’s degree was the hardest decision I’ve ever made. After finishing my bachelor’s degree in Lebanon, I was accepted by ESCP Europe and I was thrilled with the news. The type of education you get at ESCP Europe is something I could never have experienced back home. On a practical level, you learn from real life business case studies and examples. Also, the network you’re exposed to is very different from the network I would have met back home. In my three years at ESCP Europe, I have learnt a lot and grown on a personal and professional level. I have lived in three countries and enjoyed amazing experiences. I studied for one semester in Paris, two semesters in Madrid and one semester in London. I also took a gap year and completed a six-month internship in Paris and a six-month internship in Beirut. I attended a three-day seminar in Brussels and went on an entrepreneurial trip to San Francisco, California where I met people from Silicon Valley and heard many success stories. I even had the chance to pitch our start-up ideas in Silicon Valley and assisted at a summit in Madrid where I met with successful start-ups founders.
Why did you decide to study Entrepreneurship and Creativity?
I had two specialisations at ESCP Europe. My first specialisation was entrepreneurship at the Madrid campus. I chose entrepreneurship because it is my dream to build my own business one day. I knew that there is a lot I can learn from other start-ups. The semester in Madrid was an amazing opportunity for me to meet with start-up founders and learn from their experiences. It was also a great opportunity to create a start-up project with a group of classmates.
My second specialisation was Creativity and Marketing Management. I chose this specialisation because of my passion for marketing and also because I believe that there is a lot to learn about it. Marketing was the perfect area to study after entrepreneurship, as I already an idea about what kind of business I want to create in the future and I needed to learn to market effectively in order to be successful.
Why do you want to start your own business in Lebanon?
Starting my own business in Lebanon has been a dream of mine since I was little. I want to contribute to the economic development of my country. I think Lebanon has a lot of potential and there is a lot entrepreneurs can do to help. I have always wanted to be a female entrepreneur. I admire every woman that can succeed in their career and raise a family at the same time and I want to be one of those women. I started working on a business idea few months ago. It consists of a solution for companies to manage their inventory better. Inventory is the biggest cost of every business and I want to help reduce waste while benefiting the customer. However, I believe I need more work experience to be able to launch my own business. Over the next few years I will continue researching whilst I work. I am waiting for the right moment and I don’t want to rush things.
What is the difference between the e-commerce industries in Lebanon compared to Europe?
E-commerce isn’t something new in Europe anymore. People are used to buying things online instead of buying them from a physical store. However, in Lebanon, e-commerce is a new trend. People only started buying things online very recently and their trust is still related to specific websites. According to a study I recently did on the Lebanese market, a lot of people mentioned authenticity and a lack of trust when it comes to online shopping. There is a lot of work to be done to add online purchases to the Lebanese consumer daily routine.
What has the western world taught you about business and entrepreneurship?
For someone coming from Lebanon to study in Europe, I had a lot to learn about Western countries. In business and entrepreneurship, the western world has taught me that failure is not the end. Failure is a chance to improve. It has taught me that a lot of companies failed and then learnt from their mistakes. The western world has shown me that it doesn’t matter how much you believe in your product or service, never fall in love with it and always think of ways to improve it.
The other major lesson is that if I want to become an entrepreneur, I have a lot to learn other than just business techniques. For example, knowing that people are your biggest asset, I need to learn how to choose, support and understand that asset.
What has inspired you?
On a personal level, I would absolutely say my Mum. She taught me that I can accomplish whatever I want to in life. She taught me that if someone else can achieve something then I can absolutely achieve it too. Both of my parents had their own careers and they both took care of me and my brothers. My Mum succeeded in a career dominated by men. She is absolutely my inspiration.
Since I was a child I have also been inspired by successful Lebanese woman. The positive stories I heard encouraged me to become an inspiration for other Lebanese women.
What challenges do you think you will face?
When you want to challenge the status quo, you are bound to have challenges and obstacles which get in your way. The first challenge is to convince people of a new concept, to make people trust your business and contribute to your success. I also know that the Lebanese economy is a roller coaster of ups and downs but I still believe in creating this business there because I believe that it’s people like me who can improve the Lebanese economy. However, this will be a huge challenge to overcome.
What hopes do you have for the future?
I have a lot of hopes for the future. I hope that I will be able to launch my business and I hope that it will be successful. I want to be seen as an image for success in the Middle East and an inspiration for other people in the area. I want to inspire others, like I was inspired myself, and as I am still being inspired every day by other successful Lebanese women. I also hope that 10 years from now I will have my own business and my own family. I have hopes for good health, a strong business and an even stronger family.
Thanks so much!
