“Not every day is a sunny day. Sometimes you're the pigeon, and sometimes you're the statue,” Abhay Pandey, 36, recollected this advice his parents gave him as he grew up, which is an age-old adage that simply means that while certain days go well, other days won’t be as rewarding.

“I followed my parents' values throughout my career, which became a strong foundation for becoming an entrepreneur,” said Pandey, when recalling how his parents often advocated always working with good intentions and striving for excellence, and that money will naturally follow such a pursuit.


He was born and brought up in India in a small town of Gorakhpur, in Uttar Pradesh, where there was no electricity until he completed his higher education. He moved to Delhi in 2007, during his post-college years, and started working in multi-national firms (MNCs).

Pandey’s arrival to Dubai eight years ago was not a planned trip, but he came here to work, out of obligation to a friend. But he regretted his decision within a year, forcing him to quit and look for a new job and make a fresh start in the UAE.

I followed my parents' values throughout my career, which became a strong foundation for becoming an entrepreneur

 

His first job experience taught him to turn knowledge into money.

"As an associate consultant in program management in Delhi, my job gave me access to experts when it came to learning about managing money and controlling costs. This gave me an all-round learning about the corporate world, leading me in a direction to grow."

The growth-oriented culture and learning opportunities it provided changed his thought process, taking a small-town boy to India-based MNCs such as IT service provider HCL and global auditor KPMG.

"My lifelong interest in learning the conceptual side of various business functions further helped me make the best use of my time and money before fueling my entrepreneurial spirit."


When did you decide to start a business?


Pandey did not have a business pedigree like many other consultants in the industry. But he had an affinity for businesses of all sorts.


“It didn't take me long to understand that simply taking a plunge into business can cost you dearly,” Pandey explained.

“So, for around 10 years, I worked for reputable companies, enhancing my understanding of IT, management consulting, project management, business units (BU), profit and loss (P&L), etc.”

He did not limit himself to the working hours and the usual targets; his curiosity led him to push the boundaries and gain experience in finance, cash flow management, and administration. His inquisitive nature helped him conceptually understand the workings of a business.

“I have been in various profiles during my job, which helped me to learn about business support and the workings of associated departments. I also learnt to centralise the business support function to minimise overheads and decentralise sales and delivery to maximise revenue,” explained Pandey.

“I always aspired for a business that was not just about being a boss but about helping clients. It's a great feeling. That's how the concept of starting a tech consultancy firm ‘MAST’ – which advises on IT and cybersecurity, among others – came to be in 2016. Knowing how to handle a business unit helped me in the early days. Establishing this business was the tipping point of this steep learning curve.”


It didn't take me long to understand that simply taking a plunge into business can cost you dearly

- Abhay Pandey

What were your different expenses when starting the business in Dubai? How was it funded?

Pandey's business is entirely self-funded. "Our initial costs included Dh38,000 on licenses (DMCC), Dh6,000 on PRO (Public Relations Officer) services and an office lease for 900 square feet was for Dh52,500 plus a security deposit of Dh3,500 and an agent brokerage fee of Dh3,500.

“The other charges were office utilities – Dewa and chiller connection cost of Dh7,000, office furnishing expense of Dh 10,000, IT assets worth Dh10,000, software tools to help manage customer relationship (CRM), accounts and emails for Dh2,500 and a Dh10,000 website."

When he left a high-paying job and started this venture, he expected the journey to be packed with challenges. "It began with the time-consuming process of getting eligibility for the first purchase order.

"My business is a service portfolio with a 2- to 3-month sales cycle, so I started working parallel for approaching customers, exploring opportunities while company setup was in progress."