A case on local

entrepreneur

Name: Md. Istiaque alam abir

Id no : 1611342030
Course: Management 368
Sec: 07
Company name: Texfab
Submitted to: Dr.Shahedul Alam
 Methodology

Primary resources: I have collected my primary information through an

interview. I have interviewed the owner of Texfab company md shek Abu
hanif and he helped me a lot sharing the information I needed. He talked
about his experience and the journey when he was an entrepreneur and
what kind of obstacles he have to face when he opened his own business. I
have also interviewed Rahat Mahmud Nihon the managing director of Texfab
his son. He also helped me sharing the details about their business strategy
and organization culture.
Secondary resources: I did not use any secondary information for this
company.
 Name of the Entrepreneur: Shek Md. Abu Hanif
Company Name: TEXFAB (Cotton Print Sharee)
Location/Mailing Address: 66, Akil Mansion, Islampur
Email: texfab.hanif@gmail.com
Phone: 01733440030
Website: NONE
Number of employees: 40 Year formed: 2012
Sector:Clothing Product (Sharee Only)

Texfab | By Shek Md. Abu Hanif

In market research MD. Abu hanif Aced in the market and holding a good position in clothing
market of Islampur.
In clothing sector of Islampur Mr. Abu Hanif is a well-known and honorable businessman
who works heart and soul when he started his journey as an Entrepreneur. More than 40 years
he is working in this sector and also in Islampur. It all got started when he was young and
juvenile and unexperienced since 40 years ago. He was not the only son of the family, as he
has 3 more brothers and a sister too. He gave away his education and left studying opportunity
due to extreme poverty and sufferings because of that he started working hard in the blocks of
islampur at the very initial stage. Then he started to work in this sector and he also started to
gather more information’s and experience about the product and the markets and this will give
him a good will in front of all the bosses and other parties he worked for.

A tendency to lead
By the end of early 1990s Mr. Abu Hanif was most experienced in his sector and he was
thinking that he was ready to give a business of his own. After that lately in 1997 he started to
 set his business plan of his own. He was a great entrepreneur who had a good start in this
sector because he made a good decision to gather more information about the product and the
market before giving his own business and his goodwill and renowned reputations also helps
him to achieve his goal. He anticipated the customer’s needs and also he researched all the
spheres associated with his business. He also has optimal time of pitching new experiments for
the customers as their respectful demand. 1997-2008 he never rested or relaxed fruitfully. After
few years by the end of the 2012 he came up with his own company named Texfab with a bank
loan of external financing which is a share manufacturing company. With strategic advantage
of cost leadership and supreme quality reel they are market challenger in the sharee industry
now a days.

Greater market understanding than competitors can lead to success in

the industry
Mr. Abu Hanif entered was a big boom for the industry when he entered. Just because of his
great understanding he was and he is doing good in his business. Especially He knows, when it
is the selling season, when to order for more supplies, which sharee designs will sell itself
without manipulating customers and when the price of raw material can increase. In case of
decision taking situations his forecasting has always been precise and fairly distributed.

Relationship was the main motto apart from making money

For the main purpose of business is either you maximize your profit or maximizing your wealth
but if you can’t able to make profit or wealth you will be get out of the market and also you
have to shut down your business. Mr. Abu Hanif knew preety well and he is in business so he
has to make profit or he will get out from the market but He never emphasize on making profit
only. He received Profit in his plate as a byproduct of his manner and the way he organized or
managed a solid and trustable relationship with all his suppliers and distributors. Because of his
manner and the way of his business now a day his sharees is being distributed in all 64 districts
of Bangladesh. Every month, all the suppliers and all the distributers get together to have a
milad and after the milad they had a discussion about important sectors and problems they are
facing and come up with the solutions of ongoing problems too. Apart from all the problems he
had he never runs out of supply and he is being wholesaling all the time.

Good products of honest businessman, finds way to sell itself

In the market he serves high quality reel made sharee especially on justifiable price. For
checking or analyze the market situation in other districts once Mr. Abu Hanif went to Khulna,
to see how well their products are doing right there. when he entered in the Khulna market he
observed some shops and he stopped in a shop and asked the shopkeeper to show him best
quality sharee. He was very happy and feel proud when shopkeeper brought a Texfab sharees
collections and also said it is the best quality full desi product they sell now a day. The
shopkeeper also said that Texfab sharees is not less than any other Indian products. It is as
good as any other Indian quality full products. These sharees are more long-lasting and
comfortable to wear. After listening all the things Mr. Abu Hanif couldn’t hold his tears back
and he was so happy and proud he also bought that share for 1100 taka which they wholesale
for only 600 takas. Texfab product are better and quality full though they have low price that
also satisfies all the consumers both for lower class and upper class people.

Hard work and proper implementation of plan is needed in today’s

entrepreneurs
According to Mr Abu Hanif for achieving goal written plans is a must needed duty to perform.
An entrepreneur has to go through a tons of problems and also go through a tons of failure. It
is the main and most essential duty of an entrepreneur is tolerance to failure, mistakes, wrong
decisions, and from that they have learn their most effective learning in the world of business.
There are also many other obstacles such as excessive tension and overthinking is all an
entrepreneur has to go through. At the end Mr. Abu Hanif said that, all plans and working
schedule have to be in written form just we have to implement them carefully one by one and
these will lead any company at the peak of success. So becoming a successful entrepreneur we
have to make our plans in written format, we have to be honest with our associates and
customers and we have to work hard and be patient for reaching our goal. Another big factor
of succession of an entrepreneur is he have to control properly and communicate properly with
all the people associating in the business. If an entrepreneur has great plans though it is in
written format but if he doesn’t control properly and commutate properly and also becomes
impatient he will never reach at the peak of success according to Md. Abu Hanif.

Marketing strategy
Texfab uses push strategy for their marketing. In wholesaling business lot of
people prefer push strategy for their marketing plan .Texfab usually give
their products at wholesale to the retailers on credit before getting the cash.
They give their products on credit after some days when the products are
sold they received their payments. It is a good strategy because it creates
customer demand and maintains a supply flow of the product. When good
design are made, they distributed the products as per their previous demand
to the retailers. Sometimes retailer order more in ocation and season time
because they have to collect more products and they have to store it so if a
company uses push strategy it increases the customer demand and also
maintain flexible supply flow . This is how Texfab uses push strategy as their
marketing strategy giving products on credit before getting the cash .
 Capital risk

Management refers to the practice of identifying potential risks in advance

and md shek hanif analyzing them and taking required steps to reduce the
risk of his business. Ta initial stage he gathered public relation and identify
the risks of starting the business and during the risk when operating the
business. He takes prevention steps and prepared for the risk getting new in
the market but he managed pretty well. He was not egar for the short run
profit his goal was long-term making profit so he keep patient during early
months of opening where capital risk was increasing. But day by day he
managed to keep himself in a targeted profitable margin which covers his
capital as well as give him profit. He also take some bank loans for merging
his business and this help him to manage his risk of capital. Firstly he
managed to keep liquid assets on hand such as inventory, cash because
starting a new business liquid assets are the main big factors otherwise
capital risk will increase at higher level. Therefore, at first stage, cash flow
was slow but also slowly covering the capital expenses but the risk was high
at the first stage for couple of years for getting stable in the market. This
potentiality makes them the market Challenger where they makes
themselves stable in case of their capital risk management. He started his
business as sole proprietorship so his capital risk was very high at that stage
but now in the long run they managed to keep themselves stable in the
market for forcasting the risk and prevent them to