(MENAFN- Muscat Daily) Giving tips to SME owners in Oman, Jordan Belfort, the real wolf of Wall Street and now a motivational speaker, said that to succeed one should learn how to fail elegantly.
Belfort was in Muscat for a seminar titled, 'The Inner Game of Success and Persuasion' held at the Al Bustan Palace, a Ritz-Carlton hotel on Tuesday.
He said that both the government and the private sectors in the sultanate are providing support to SMEs. ''My advice for someone starting a business under US$20,000 is learn how to fail elegantly. Learn to be wrong. Become an expert at raising money. Test your ideas. Start from your house if you can. Some of the greatest businesses often start at the kitchen table, so don't think you have to get a big shiny office and a beautiful desk. Put your money into developing your product or service.''
Talking about Oman's development and the way forward he said, ''I think oil and gas revenues account for a major part of Oman's GDP (Gross Domestic Product), but the government rightly focuses on education and building up the infrastructure. I have been to four or five countries in this region, and I believe Oman has a bright future. Oman is socially liberal, strategically positioned, it has resources, and the nicest people from the four or five countries I've been to in this region.''
He however added that, he would like to see more of the country and would like to come back in December.
When asked what he would do if he had a billion dollars to invest, Belfort said, ''I would be focusing on Internet related investments, mining, resource sector. And Asia specially the upcoming India. The focus is currently on China, and I still believe in the China story, but India's also going to come up. Maybe a decade behind,'' he added.
Belfort, a former stockbroker who has raised over US$1.5bn in venture capital, has acted as a consultant to more than 50 public companies and has made more than US$50mn a year in his mid-20s. He shot to international fame when his memoir became the basis for the 2012 film, 'Wolf of Wall Street'
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