How to Rescue a ‘Dead Horse’ Business?

<p>In this episode of The Dollar Diaries, Khalid Chami, Group CFO at Ali &amp; Sons Holding, explores how finance leaders should move beyond bookkeeping to become strategic value creators. He emphasizes that trust and the “tone at the top” are foundational in family businesses: understanding shareholder culture, earning trust through competence and honesty, and being included in strategy formulation are essential for long-term success. Rather than viewing finance as merely a cost centre, Khalid advocates for a “chief value officer” mindset—partnering with operational teams to optimize processes, enable revenue growth, and provide timely, actionable reporting.Khalid discusses practical approaches to portfolio management, expansion, and turnaround work in diversified family groups. He recommends grounding decisions in strategy and capabilities—kill or prioritize opportunities based on fit, capacity, and the firm’s strategic objectives—and stresses the importance of listening to internal experts and using external consultants selectively. On M&amp;A and bolt-on integration, Khalid advises planning integration before acquisition, allowing time for cultural and systems alignment, and balancing patience with decisive action. For restructuring and transformation, he highlights shared services, digital transformation (ERP, data lakes, dashboards), and incremental cultural change that preserves core DNA while adding future-ready capabilities.On investing and the UAE ecosystem, Khalid explains why family offices and investors in the region are increasingly sophisticated and aligned with national vision and infrastructure. He names fintech as a personal interest, warning founders to plan for regulation, distribution, capital requirements, and realistic burn timelines; he also recommends partnering with banks rather than positioning fintech solely as a challenger. Finally, Khalid shares career advice for young professionals: prioritize what you are becoming—skills, networks, and experience—over short-term earnings, and take personal responsibility for continuous learning and tech literacy to remain relevant in a rapidly evolving market.Meet the Team:A dynamic mix of personalities and expertise, each bringing unique energy to the table. Abubakr Sajith, the unofficial leader (even if he didn’t ask for it), keeps things running smoothly with his finance, IT, and entrepreneurial background. Gazala Parkar, the PR pro, is the team’s caring yet no-nonsense mother figure, whi