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ENTREPRENEURSHIP
ASSIGNMENT
ENTREPRENEURSHIP BBA 8-C
Entrepreneurial Experience of Mr. Irtiza Rizvi, CEO Rungleela
Pakistan.
Table of Contents
1. The initiation of an Entrepreneur:..............................................................2
2. Previous Businesses:..................................................................................2
3. Funds for the Dreams (The Business Financing):.......................................3
4. Current Employee Statistics:......................................................................3
5. An Average Work-Day Hour for Making The Dreams Come True:...............3
6. The Target Market:.....................................................................................3
Meta Tags:............................................................................................4
The Royal Republic:..............................................................................4
Craftistan:............................................................................................4
7. The Most Crucial Things Done With the Business:.....................................4
8. Expansion Plans:........................................................................................4
9. Outsiders who have been most important to the business success:.........5
10. The Most Effective Marketing Technique:...................................................5
11. The Worst Business Advice ever received:.................................................5
12. Three Pieces of Advice from Mr. Irtiza to the New Entrepreneurs:.............6
13. The Exit Strategy to get out of this Business:............................................6
14. The Motto as an Entrepreneur:..................................................................6
15. The Visiting Card and Group Photo:...........................................................7
2010
due
started his
got
into
SZABIST,
he
opened
up
arts
and
in
the
UK,
as
one
of
the
official
as
his
working
capital,
and
with
that
exhibition he generated quite a lot of money. That wasnt the end. Irtiza
followed it up by then creating Meta Tags, which basically makes dog
tags and lighters. After that, Rung leela came up with The Royal
Republic, which makes mens clothing. Right now, they have come up with
a new subsidiary called Craftistan, which hasnt been official yet, but
they will cater the Business to business markets. This subsidiary will offer
corporate giveaways to its clients.
2. Previous Businesses:
I have always had an affinity towards selling. I was 15 years old when I
started selling. Im not sure whether you call it an official business, but I used
to collect vintage coins and stamps, and then used to sell it to people. The
coins at the time of the East India Company and the stamps were some of
the noticeable collection I had. I used all of the things I learnt back then into
Rung leela. And Alhamdulillah, it has been successful Irtiza Rizvi, Ceo
Rungleela.
my
just
the
to
8. Expansion Plans:
Vision of my company is to become a company to generate most employees
in Pakistan. As far as expansion is concerned, recently I have some brand
under pipeline to start with. Considering market demand I am soon launching
a business of Customized and personalized gift accessories. Moreover, we
are planning to hire brand ambassadors of our brands outside Karachi to
penetrate in other markets.
10.
I cant recall one specific marketing tactic but the effective marketing
medium for my brands are social media and word of mouth. Furthermore,
collaborations with bigger brands also one of the tactic that I used to grow
business. For example, we are unofficial partner of Army for dog-tags, we
were official partner of Chambelli movie for its launch. Recently, our brand
5
11.
You cant do a business with such small initial capital, think of starting a
business when you will be 30 years old and have some good startup capital.
If I have paid more attention to this advice, I wont be able to established the
business what I have today which is still growing.
12.
Three Pieces of Advice from Mr. Irtiza to the New
Entrepreneurs:
the idea
Even if
it
is
something
common,
look
unique
The aim of life should not be to live forever,
but to create something that will.
13.
We do not have currently any exit strategy because we are here to stay in
market. However, if just God forbids we incurred too many losses in business,
to hedge this risk we have already adopted diversification strategy. I have
diversified the business portfolio by starting multiple brands which are
different products having different markets. In this way, I have averted the
risk of going out of business.
14.
To create something you never had, you must do something you have
never done
15.