The Online auction marketplace sector is witnessing aggressive growth in today's digitised environment, it is not only advantageous but also eases efforts and costs involved in buying and selling new and used items as well as property and vehicles. To this end, Leila Masinaei, a dynamic entrepreneur has established Buy of Bid, the region's first online auction e-commerce website for listing new and used consumer goods. The Dubai based firm is working towards widening the scope of online auction e-commerce.

Armed with an MBA, Leila is heavily involved with the businesses and believes in leading from the front, through examples and demonstrations. She was the one to conceptualize the business, create the blueprint, hire and oversee the teams that developed the business. 

As the Managing Partner of Buy or Bid, she plans, designs and oversees the execution of the companies' annual plans. This includes annual budgets, human resources and talent development, project proposals and development and day-to-day operations of the Directors of each of the businesses and their various departments.

In an in-depth interview with the women entrepreneur team, Leila speaks about her motivational journey in the organisation. Here are excerpts from the conversation.

Take us through your early educational journey and the prior industry experience that you bring to the table. What are the various roles and responsibilities that you currently take care of at Buy or Bid?

I am the Managing Partner of Great Minds Group, which consists of Buy or Bid, Great Minds Event Management, Great Minds Marketing and Communication and Yummz Hot Chips cafe. I started my higher education as a pre-med student, wanting to become a Doctor. However, I soon discovered my passion for Research & Development and started working in that field in USA. After some time, I started my MBA in International Marketing, which was the start of my venture into the business world. Buy or Bid was born out of my sense of curiosity and wanting to find solutions to challenges.

Currently, in addition to the daily overseeing of the site and the e-commerce and marketing team, I am heavily involved with the development of the site's second version. We want to achieve a slick, fast, user-friendly site, with an unparalleled customer journey. We are trying to gamify the auction process and bring many new elements to the customer experience.

What are some of the most challenging aspects of your role as a business leader?

The most challenging aspects for me is balancing the four businesses I run. I am the Managing Partner of four businesses, and I dedicate the same level of time and attention to all of them. So I think my biggest challenge is that there are not enough hours in a day!

I overcome the daily challenges of the site development and progression against our vision by taking advice from experts and working very closely with our consultants and the agencies that are developing some aspects and features of the site, as well as our in-house team. I also surround myself with experts and trust their judgement and expertise to move along the tasks as required.

As the Managing Partner of the firm, how do you drive growth within the organization? How do you keep yourself well aligned with the periodic evolutions occurring in the industry?

I borrow philosophies from many leadership schools, and over the years I have married them up to come up with a unique style that works for me. Here are a few things I do. I plan things ahead of time. At any given point in time, I have a 5-year, 2-year and 1-year plan and I work towards the big picture. Moreover, I hire with care and pay more attention to attitude and aptitude than exact work experience. I spend time on training and development and encourage my leadership team to do the same. I try to understand my employees and marry work goals to their personal goals. I have created a collective, collaborative and unified culture in the company. The guiding principle is either we all succeed together or fail together.

“We want to achieve a slick, fast, user-friendly site, with an unparalleled customer journey. We are trying to gamify the auction process and bring many new elements to the customer experience”

As far as a one-line mantra goes, I think everyone in my team knows me for saying "inspect what you expect". I think if everyone in the workplace did this, there would never be any surprises.

How have you evolved throughout your journey as a business leader? Also, what is your take on balancing your professional life with personal life?

Throughout my years as a business leader, I have learned to be more understanding & compassionate on one side, but firmer, more assured and determined in another. I do think today, I am a better person than I was before I started my journey as a business leader.

To keep up with trends, I read a lot, listen to talks and lectures, and I always look inwards to see where and how I can improve myself and therefore improve others. What I am doing these days is shortlisting universities to attend, as I want to obtain my PhD in business leadership.

In addition to owning and operating four businesses, I am the proud mother of two beautiful young girls, age 11 and 7, each with their unique personalities and talents. I am engaged with their academic development as well as their hobbies, social lives, etc, as any mom is. Being a full-time working mother, makes you a master multitasker and brilliant at time management. Being a business leader does not put me in any more of a special place than any other working mom, except that I truly have two families to look after, one at work and one at home.

What would your advice be to young women who aspire to become business leaders?

I would say that your gender does not define you. You have the potential to do anything and everything you want. Moreover, as women, we are naturally multitasking, empathetic and nurturing. Nevertheless, one should always ask questions and seek help to improve and enhance herself. I would just say that loving yourself and learning from the challenges can help a lot to achieve one's goals. Erin Hanson said, "What if I fall? Oh, but my darling, what if you fly?"

Leila Masinaei, Managing Partner, Buy Or Bid

A passionate entrepreneur managing the online auction e-commerce website for listing new and user consumer goods.