How Focus Helped FOO’s Ghady Rayess Unlock Growth

In this edition of Founder FAQ, a regular Inc. Arabia series that sees entrepreneurs from the region answer questions from their peers, Ghady Rayess, co-founder and Managing Director of UAE-based fintech FOO, answers: "What is a mistake that you made during your entrepreneurial journey that you believe was especially significant, be in terms of its cost, or the lesson learned?"

“One of the most significant mistakes we made in our entrepreneurial journey at FOO was a lack of focus. Back in 2009, when we were starting out, we were implementing custom solutions across different industries, spreading our efforts across multiple industries, including media and healthcare, telecom, banking, and others. At that time, we believed that diversification would minimize risk and maximize opportunities. We invested resources and ideas into multiple products, assuming that having a broad market reach would increase our chances of success.

However, what this meant was that we were competing on too many fronts without establishing a clear leadership position in any. Taking on many projects in different industries stretched our team too thin, diluted our brand positioning, and made it difficult to gain deep expertise in any one area. Instead of excelling in one product and dominating a market, we found ourselves juggling too many priorities with limited impact. We were unable to scale and develop our assets/ products as intended.

Managing diverse projects also meant that our team was constantly shifting focus, making it difficult to build deep expertise, optimize operations, or establish a strong market presence in any one sector. This lack of focus led to operational inefficiencies, delayed growth, and difficulty in positioning ourselves as a leader in any space. Eventually, we realized the need to narrow our focus, refine our value proposition, and channel our resources into one industry—fintech— where we could build a competitive advantage.

The lesson? Focus is power. It’s better to master a specific industry and create real value rather than to spread efforts too thin. Once we streamlined our strategy, we saw stronger market traction, better brand recognition, and ultimately, sustainable growth. With that in mind, here’s what we’d tell entrepreneurs walking a path similar to ours in the early days:

Master One Market First

Gain deep expertise in one industry and dominate it before considering expansion. Spreading too thin too early can lead to inefficiencies.

Learn To Say ‘No’

Not every opportunity is worth pursuing. If a new idea doesn’t align with your core mission, be disciplined in saying no.

Build A Strong Decision-Making Framework

Use structured evaluations (such as return on investment analysis or prioritization matrices) to determine where to invest your time and money.

Always Stay Lean And Agile

Focused execution allows for faster iteration, better resource management, and stronger brand positioning in your chosen space.”

Pictured in the lead image is the co-founder and Managing Director of UAE-based fintech FOO, Ghady Rayess. Image courtesy FOO.

This article first appeared in the April/May 2025 issue of Inc. Arabia magazine. To read the full issue online, click here.