By Staff Reporter
Dubai: Growing up in a military family with tight financial constraints, Belarusian expat Dima Saksonov, 34, learned financial discipline early. Now, he runs a multi-million dirham blockchain business in the sports industry.
“We had no room for extravagance—every dollar had to serve a purpose,” Saksonov recalls. His parents prioritized needs over wants, shaping his mindset about money as a tool for stability and opportunity. His financial journey began at 18 when he worked as a handyman to save for a motorcycle, eventually getting promoted to construction team leader.
His passion for mechanics led him to launch his first business—an auto repair shop—in 2014. But it was in 2023 that he made his biggest leap, founding Blockchain Sports Ecosystem. Officially presented in February 2024 at Dubai’s Coca-Cola Arena, the event attracted 5,000 attendees. The venture provides cutting-edge blockchain technology solutions for the sports industry, backed by strong foreign investments and strategic partnerships.
His background in data center digitalization provided the capital to kickstart Blockchain Sports, reinvesting every dollar into the project. “Setting up in Dubai required substantial investment due to high business costs. Our UAE presence alone costs over Dh11 million ($3 million) annually,” he says.
Investing in Growth
Relocating team members to Dubai cost Dh18,360 ($500,000), while office space in prime business districts runs at Dh9,180 ($250,000) per year. Team accommodations, food, and daily transport add another Dh44,070 ($1.2 million). Securing residency permits and covering operational services push costs even higher.
Despite the expenses, Saksonov remains committed to Dubai as his global headquarters. “This is where we manage investments across all our products,” he notes.
Saksonov’s Four Money Rules for Success
Negotiate Relentlessly
“Cash flow was tight when we started, so I made it a habit to negotiate everything—office rent, supplier contracts. Renegotiating one deal saved us 20% annually, which we reinvested into product development.”
Always Have a Financial Safety Net
“A key investor pulled out early on, forcing us to delay projects. That experience taught me the importance of having a financial cushion for both personal and business use. It’s not just about survival—it’s about staying on track with long-term goals.”
Invest in Yourself and Your Team
“I used to hesitate about spending on training or industry events. But attending my first blockchain summit led to key partnerships. I also underestimated the cost of not upskilling my team—it slowed us down. Investing in growth is essential for staying competitive.”
Saksonov’s journey proves that disciplined financial strategies and bold investments can turn ambitious ideas into thriving businesses. “Success isn’t about how much you make—it’s about how effectively you use it.”
