Meriem Tamarzizt Ganneau Of KLAIM: Five Things You Need To Be A Highly Effective Leader During Turbulent Times

An Interview With Fotis Georgiadis

Enjoying every moment of the growth path. Journeys and not only mine can be considered bitter, hard, exhausting on the short term only when we think about the long term, the whole picture, look back at our paths, only then we feel proud of our achievement and re-energize for more… it is very similar to the marathon, no matter how exhausting it is, while looking at the arrival and the goal, makes the pain delicious and forgettable.

Meriem Tamarzizt is a Co-founder of a Fintech Healthnet Startup based in the UAE, that is specialized in healthcare insurance claims financing. Prior to that she was a Senior Consultant for Mercer Investments. She has been in the MENA region for the last 6 years.

Meriem has more than 15 years of experience in corporate strategy consulting working at a leading consulting firm (McKinsey Paris office) and as a free-lance consultant in India, Libya, Tunisia and KSA on various types of assignments: development or restructuring of established businesses, launch and boost of startups.

Meriem also has more than 5 years’ experience as a Structurer (for Structured Credit) at AXA Investment Managers where she was exposed to the LBO market, and where she acquired corporate finance and financial modeling skills. With an experience across multiple industries, including and not limited to Retail, Food, Leisure, Professional training, Transportation, Asset Management, Meriem brings a Strategy and Finance background summarized by the following projects:

  • Restructuring a retail branch of a listed company, by setting up a 5-year strategy plan and supervising its implementation (including HR, Finance, Processes…), negotiating and closing an exclusive distribution agreement with an international brand.
  • Developing an investment strategy for two conglomerates, supervision, review, and assessment of new projects’ progress.
  • Defining the strategy, launch and development of a professional training academy.
  • Raising equity investment for a startup business after having defined and developed the product, built, and expanded a profitable business in two years.
  • Defining and developing an SME Leveraged Loans platform, structuring CLOs (funds of LBO debt) and defining the investment strategy.
  • Assessing and redefining national investment policies for road maintenance in Sub-Saharan African countries.

Thank you so much for your time! I know that you are a very busy person. Our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?

If you look at my LinkedIn profile you will notice that I have an unexpected and original, maybe for some people even a non-consistent, type of profile. Let me tell you that I have spent the last twenty years of my life living in 8 different countries, worked in all of them across more than 20 organizations, set up 5 companies, have been a member/ co-founder of 3 NGOs, and always felt I should do more, especially to lead and execute sustainable change.

From the day I started looking at the world with the eyes of a woman and from the moment I realized that women leadership in my family, my school, my neighborhood, and my country is OUTSTANDING, I understood that I needed to contribute and be a strong leader in my “home countries”. Even more so if I wanted to be the next Al Kahina, including to be able (mature enough I’d even say) not to impose to others what I would not accept for myself!

It has been ringing even more true since I had my two kids. I realized that my mission is to make a difference in other people lives, to bring change and lead transformations. To be that person people look at, not just for sharpening their hard skills but as well for being a ‘people’s person’, who will listen, advise, reconcile, connect the dots, help and push for collective sustainable success.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lessons or ‘take aways’ you learned from that?

Mistakes are not always funny but most of them are good memories and lessons, and pretty much all worth to learn from.

When I have started my career, we were at the dining hall with some colleagues whom I have shared my views on our project, in a very bold and direct manner. I was not conscious that some risk department colleagues where on the table next to us. They have heard everything, and on the following week, during the risk committee meeting even though my answers/ideas were not presented, the committee members (that I have recognized by then) considered some of my ideas but pointed out that projects technical matters should not be discussed at the public spaces! My face turned red, and the lesson was learned forever.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?

I am grateful to everyone I met in life, even to odd people who made me grow by simply making me realize all what I should not or do not want to do in life.

Mainly I would like express my utmost gratefulness for the father I’ve had when growing up, who was a communist in the capitalism era, who constantly reminded me that sharing the cake with others is important, who was well educated , cultured and invested in my education ; who tirelessly pushed me to read, discover and appreciate different cultures. I was and still am lucky to have such a father/mentor/friend, with a progressive mindset, who supported me to go further, to push my boundaries and get all what I wanted.

Then the second person who changed my life was my physics professor, Dr. Samia Charfi, the daughter of a well-respected female leader in Tunisia, herself from parents well educated who stand up for their values and gave so much to their country. She is the one who encouraged me and supported me for my application to a worldwide renowned Military Engineering school in France, not my type of school (or so I thought😉).

Last, life gifted me with a man who always supported me, whose objective was to take care of me and our kids while I am doing my ‘maximum’ to have impact. He is my husband, who always supported my crazy initiatives, never criticized the output of any of my projects and startups (I have set up at least 5 companies, out of which 2 are still alive), a model of resilience always looking at the positive side of situations.

And to be here answering these questions made me realize that I have had many ‘deceptions’ but I have always met the sunshine which enlightened the tunnel and somehow made the journey better, men and women who you should be having around you to see the light

Extensive research suggests that “purpose driven businesses” are more successful in many areas. When your company started, what was its vision, what was its purpose?

I do believe that the recent years had been awakening for humanity and I hope more leader would think purpose before anything else. I completely agree with the statement that “purpose driven businesses are more successful”, and it is starting to be backed-up by data.

In addition, I do believe that today more than any time before, it is our mission as leaders to make every business purpose driven, to lead and drive the change toward sustainability in many aspects. In fact, if we as leaders, we can grow our community including through publishers like you, we can build a humanity consciousness and drive the change, through the positive values we endorse, through our management style…, then we are having a better impact, supporting the transition, and making it sustainable.

All organizations I have (co-)set up had been for a purpose.
The latest being KLAIM, a Healthcare Fintech Insurtech. We enable healthcare providers (hospitals, clinics, doctors…) to focus on the most important, our beloved ones lives and health, while we take care of their cash flow matters.

Last, I believe in performance measurement that needs to change everywhere, it is no more the stock level, the dividends distributed… but as well the sustainability, equal opportunities, the socio-economic impact, the long term… which need to be considered in our performance reviews.

Thank you for all that. Let’s now turn to the main focus of our discussion. Can you share with our readers a story from your own experience about how you lead your team during uncertain or difficult times?

Let me describe one of the most difficult experiences where I have worked on the restructuring of an almost defaulting retail business. It is a very painful exercise where you know that you would not be able to retain everyone because the market itself is changing.

In my analysis of the business and the restructuring strategy, I have dedicated the longest time working on and with people. The analytics about the sales points even though new to me were not that complicated, but firing dads made me sleepless.

I have decided I needed to do it meticulously: interview them, give them small projects to evaluate their creativity, spend time with them to understand their strength, speak to them about their dreams, understand their background, their family situation to be able to take the right decision with them on the way forward. The most important in such experiences is to be ‘wholehearted’ leader (Berne Brown voice) because some of our decisions will change radically some families’ lives. I believe it is very important to put yourself in the shoes of the person whose job might be cut, feeling that pain makes you think twice about the decision, make you as a leader being innovative in the way you advise some people on training or new orientation.

Did you ever consider giving up? Where did you get the motivation to continue through your challenges? What sustains your drive?

I have spent the last 6+ years in Saudi Arabia. Saudi is home for us now, a very attaching country where the energy is special, as many of you know, it is the holy place for 1 billion people. At the same time, it is a “special” (challenging to say the least) environment for women even though it is changing very rapidly. There were days (and still are) when I think I just want to be in NY, London or Paris, where things are more predictable and closer to the ”standard/normal”.

And then I ponder; what is normal? Does it exist? Am I nostalgic? Why not make the place I live how I want it? That makes me stick more and recharge with good energy.

Why? Because I feel my place is here to be able as a Muslim woman to help driving the change in that country that is consciously changing to make Muslims of the world change, not only in their attitude towards others, but to embrace new technologies, lead innovations, invest in their people, reduce corruption, build a better future for the new generation, think sustainability, empower women …

What would you say is the most critical role of a leader during challenging times?

Leaders need to be close to their teams, needs to consult them and include them in their decisions during the challenging time. Being aligned on the decisions made would ensure other team members own the implementation of these decision. In addition to that, resilience is very important during challenging time as no market, no competitor, no customer… will react as expected. Leaders should show reactivity and trust to its team members in order to inspire them, to push for initiatives in order to adjust gradually the plans.

So to sum it up, wholeheartedness and resilience.

When the future seems so uncertain, what is the best way to boost morale? What can a leader do to inspire, motivate and engage their team?

In uncertain times, you have to first think about you, if you are ready and re-energized no matter how things look: difficult, complex, invisible, unpredictable … You will be unstoppable.

My advice is to first have some good time at the gym, and/or practice meditation (eg full mindedness) or yoga, a healthy and tasty diner coupled with a good discussion with someone you value most (can be your husband, best friend…). Once you digest information and get the right energy it is very important to engage in an open discussion with your team from heart to heart, to make sure you test your assumptions with them, get information from them and solve problems as a team.

They will then own their part and engage in reaching the collectively set goal. Overall be honest and humble, but firm on the principle and show commitment to the team.

What is the best way to communicate difficult news to one’s team and customers?

Our interactions with colleagues, counterparties and customers are more and more digital but I still believe that nothing is better than a face to face especially when some important or difficult news need to be communicated or discussed. More importantly is to be able to say “I don’t know” when we don’t have the answer.

I reckon the bottom line is being truthful and compassionate.

How can a leader make plans when the future is so unpredictable?

As Winston Churchill once famously said: “plans are worthless, but planning is everything”.

The plan of a leader is not to have a plan. Unpredictability and change are confirmed to be the unique constants these days. Leaders need to look at the mid to long term strategy and overall goals all together; then with their team draw the path to reach them with agility. It looks cliche but in today’s world I don’t see any full-fledged detailed 5y plan working smoothly… They may even stymie creativity & problem-solving skills, limit the teams’ resilience, lower ownership of the goals and reduce commitments.

However, the process of planning is quite useful, in order to identify risks, and develop SMART goals. I’d argue that in most cases, a succession of short-term plans is more efficient. Which is one of the core premises of the agile methodology.

I have personally discovered the Agile Methodology while discussing with some friends in the tech sector and got trained to become an official ‘agility coach’. Since then I have adapted and adopted it in my personal and professional life. 3 years before COVID I had suffered from anxiety and mental stress caused by my fully fledged personal plans that I was not able to pursue/achieve. I thought at 40 years I would be a manager on a financial service trading floor, wearing my Louboutin in London or NY, whereas I realized that my life was not there. I have fought so much back then to get out of Saudi but was not able to find suitable options, my various plans failed to some extent.

Following a therapy and some coaching sessions (Kudos to Myke Celis, a fantastic support I will never thank enough) I have discovered that I needed to let go of these irrelevant and outdated plans; which do not turn out to be very useful, especially in the region where I work and live. Since then, I have appreciated not to have such limiting plans, to adjust my life to new changes and embrace change, while keeping my integrity and values strong. Life is a journey, and good will come!

Is there a “number one principle” that can help guide a company through the ups and downs of turbulent times?

I believe the number one principle that can help guide a company through ups and downs for me is taken from nature, leader shall be the bull, brave enough to run through the storm and not waiting like cows for the storm to pass.

For our Fintech we signed sales agreements with a free trial until a D date on which we should implement the features customers desperately needed to run their businesses. We have discovered only two weeks prior to the D date that it would not be delivered on time for multiple reasons; among these, the fact that the data on which the algorithm had been working was not reliable. That means a lot in terms of income delayed, cash flow projections and will impact the whole sales team forecast without forgetting the damage that will be made to our start up image.

As a leadership team we have decided to spend time with the teams (tech, sales, and business development) to measure the impact on the company, go back to the market, talk to our customers, explain our issues, and face their disappointment. But we felt that was the only way to do it, being truthful and clear.

Being confident about resolving the problem was the most important decision of the leadership team.

Can you share 3 or 4 of the most common mistakes you have seen other businesses make during difficult times? What should one keep in mind to avoid that?

The three most common mistakes I have noticed during difficult time are usually directly linked to the management style:

  • Weak and non-confident managers will always try to protect themselves, shift the blame and even possibly fire those who did the job, to cover themselves.
  • Some keep doing the same thing, thinking that the market will adjust or come back to what it used to be not realizing that things will never go back to the old normal, thus they miss questioning themselves & evolving.
  • Being not inclusive nor collaborative, eg a top down decision making process, without consulting members of the organization no matter how senior they are, how skilled they are or no matter the position they have. The ivory tower syndrome…

Here is the primary question of our discussion. Based on your experience and success, what are the five most important things a business leader should do to lead effectively during uncertain and turbulent times? Please share a story or an example for each.

  1. Acceptance of who you are. After the 2008 crisis, we took the decision of having a child. At the same time, I had to leave my job in investment/finance to move to India. Once there, I started working in a startup and enjoyed being a wife, a mum, and an expat… However, after few years I realized that even though I have been active and working hard I was not in London or NY, the cities of bankers I had always dreamed of. But life is a journey; which is far from over. I believe that good will come! Accepting seeming imperfections and changes is also about accepting others, the circumstances under which we leave, appreciating every team success no matter how small or insignificant we think! People at ease with themselves usually make good leaders in the long run.
  2. Building a high aptitude to resilience, adapt to any type of incident, accident, culture, environment, and people. For those for whom COVID was a life changer, for me it was a continuity of my resilience path. It made lockdown days the best period of our family life. To be able to work long days as consultant and co-founder of a startup while being with my kids and husband. Resilience to COVID was not more difficult than leaving Libya with two kids, water and biscuits. In fact, back then I had to escape the civil war, leave my husband behind, in a dangerous country. While on the evacuation boat, I dreamed of the success of the Arab Spring revolution and I trusted change leaders…
  3. Driving change in an agile manner. When we moved to Saudi, I started restructuring a company. While working during the prayer time I was caught by the religious police in the street which at that time was not something acceptable, especially if caught with other (male) Westerners in the streets, not fully covered body, and head … After the choc I have again adjusted to the new environment and enjoyed working and driving change in local organizations, being part of big transformations, where fully fledged plans never work, because every day is full of surprises and change is the only constant in life.
  4. Sticking to my values. Being a conscious leader, who scores each business decision and project against her and the organization’s values (on which each employee aligned), makes the business sustainable, inclusive, and co-owned by the rest of the team members. A major part of the managers and organizations though assess projects and decisions against financial KPIs, deliverables and timelines and forget that the company’s values are as important when we would like teams to own and deliver these projects.
  5. Enjoying every moment of the growth path. Journeys and not only mine can be considered bitter, hard, exhausting on the short term only when we think about the long term, the whole picture, look back at our paths, only then we feel proud of our achievement and re-energize for more… it is very similar to the marathon, no matter how exhausting it is, while looking at the arrival and the goal, makes the pain delicious and forgettable.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

“And we must not walk, but run, fly towards perfection” Maddalena de’Pazzi

Life is too short to watch it go, I have and will always be flying looking for the best for me and others!

How can our readers further follow your work?

https://www.linkedin.com/in/meriem-tamarzizt-ganneau/

Klaim.ai

Thank you so much for sharing these important insights. We wish you continued success and good health!


Meriem Tamarzizt Ganneau Of KLAIM: Five Things You Need To Be A Highly Effective Leader During… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.

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