By Hussain Sajwani, Chairman, DAMAC Properties

As I was driving back home on a Thursday night, mulling over the events of the past week, I took a pause and thought of how our lives are filled with countless personal and business encounters, decisions and actions that spawn valuable lessons. I pondered over the impact those lessons have on our own lives, and whether we generally do a good job at passing them on to our children, perpetuating a positive ripple across future generations. On that night, I decided to share a few lessons I’ve learnt throughout my business and personal life, hoping to make a difference in the success of future generations.

Someone has recently asked me: “What is your legacy? What do you want to leave behind for the betterment of generations to come?” Personally, I’d like to be a role model for my children and the young generation, guiding them to achievement and greatness and providing encouragement and guidance from my own life choices and business accomplishments.

The first principle I would like the youth to adhere to is to be honest and show equal respect to everyone, regardless of age, gender, race, colour, background, religion or social class. After all, the way we treat others reflects who we are. To a great extent, public perception of your honesty and respect defines your success or failure on a business or personal level.

Another important enabler of success is setting the highest standards in everything we put our mind to. I always tell my children; “If you were to create something – be it a business or a personal endeavor – do it right. Set your standards high and be persistent in achieving the desired result; it won’t take long before you start reaping the rewards.”

Young entrepreneurs today are brimming with ideas and have the enthusiasm for achievement. What deters them from getting off the ground is self-inflicted – the fear of failure, and hence hesitation prevents one from taking the first step. My advice to those budding entrepreneurs would be to not be afraid to make mistakes and get back up when you have fallen down. Failure could pave the way to success and do not let it frustrate you. Learn from your mistakes to improve your performance and achieve your goals.

Last but not least, just like I am passing on my business knowledge, life lessons, and values to my children, that will hopefully prove to be as valuable, if not more than the business itself, they will in turn need to do the same to pass on their own lessons to their children and future generations to come. The gist of all we work and stand for throughout our lives should translate into something that will carry on beyond our time. Our achievements should leave a mark and create a legacy for the coming generation to benefit from.