Invited to the Forum “Entrepreneurs on the Move: Turning Priorities into Action,” organized by the General Confederation of Moroccan Enterprises (CGEM), Moulay Hafid Elalamy, founding president of Saham Group, shared a demanding vision of entrepreneurship based on boldness, rigor and responsibility.
Delivering a keynote address entitled “The Boldness to Think Big,” the former minister and former president of the CGEM shared ten rules drawn from his career, marked by both successes and setbacks, in what he described as an “anti-manual for entrepreneurs.”
1. Decide quickly, but act methodically
Distinguishing action from mere activity, he stressed that deciding quickly does not mean acting without preparation. “Action is the execution of a well-thought-out, carefully prepared strategy,” he explained, noting that entrepreneurs do not need to wait until they have all the information before making a decision.
2. Be impeccable with administrations and regulators
Among his recommendations, Moulay Hafid Elalamy first called on entrepreneurs to be “impeccable” in their dealings with the tax administration, customs, the Foreign Exchange Office, the CNSS and regulators. In his view, compliance is an essential protection for companies, particularly when seeking to scale up.
3. Stay close to your customers
He also recommended staying close to customers, even as the company grows, in order to avoid becoming disconnected from the market. “When a leader is disconnected from the business, he loses control,” he warned.
4. Think big, but start small
Advocating the formula “think big, start small,” he urged entrepreneurs to test their business models before accelerating. He illustrated this principle with several personal experiences, including the creation of an assistance business launched with limited resources, which later became an international player through the stock-market listing of Majorel.
5. Take on international markets
Moulay Hafid Elalamy also encouraged Moroccan companies to compete on international markets without inferiority complexes. In his view, global competition strengthens discipline, execution quality and the ability to meet high standards.
6. Diversify without rushing
Warning against poorly managed diversification, he recommended proceeding step by step and avoiding changing country, business line and partner all at once. “That is a guarantee of failure,” he said.
7. Create wealth ethically
Defending the idea of entrepreneurs who are “rich, but ethical,” he argued that wealth creation contributes to financing public policies and economic development, provided that tax and social obligations are respected.
8. Know when to sell
He also called on business leaders to know when to sell a business when it no longer fits their strategy. “Selling is not betrayal,” he insisted, citing the example of Kodak to highlight the risks associated with technological change.
9. Anticipate the impact of artificial intelligence
On artificial intelligence, Moulay Hafid Elalamy issued a warning: “Artificial intelligence will destroy part of the jobs. This is not science fiction; it is happening today.” He expressed particular concern about the future of certain industrial and offshoring activities in the face of the combined effects of AI and robotization.
10. Choose the right partners and prepare succession
Finally, urging entrepreneurs to choose partners who share the same values, surround themselves with more competent collaborators and prepare succession early, he stressed the need to ensure the sustainability of family businesses. “These ranks must be earned. They are not given,” he concluded.
