By Sraban Roy , Writer, Riddle Scribble
In Bangladesh the number of young entrepreneurs and enterprises are rising every day. The young entrepreneurs are using their great minds and ideas to develop their enterprise. But one has to know how to run business enterprise for which leadership is indispensable. Better Stories was established in 2008 jointly by a woman entrepreneur, a development professional and an environmentalist to work on a motivated target of creating a entirely new generation of leaders.
Minhaz Anwar, who is the founder of Better Stories, stated that he expects to create at least 1000 leaders by 2050 through Green, Ethical and Responsible Businesses (GERB). The center of the organization is to create the leadership quality in the entrepreneurs. As a result soon after establishment Better Stories started the program called “Leadership thorough Entrepreneurship” which aims to develop leaders in the country. The ideas agency is based in Dhaka, Bangladesh. Minhaz Anwar has been working on business incubation, startup mentoring and opportunity brokering for the last five years with the help of his dream venture BizCube, Bangladesh’s first incubator proper.
Better Stories started its journey with a view of promoting Bangladesh. The country possesses a lot of potential and Minahaz Anwar wanted the rest of the world to know that. He always believed that if we can put our minds together and act as a team then we can accomplish anything. For that reason the main focus was media and communication, which served as a medium to promote the country.
Better Stories tries to create an optimistic and everlasting change for the entrepreneurs. The agency often provides pro bono services as like the collaborating work with the Department of Biochemistry and Molecular Biology, University of Dhaka to help the department enhance the research facilities, modernize teaching-learning and establish a graduate entrepreneurship development programmers. The agency also plans to help the country to reach its vision i.e. to achieve the middle income status by 2021 and advanced economy by 2050.
According to the Founder Minhaz Anwar, the main obstacle is to gain the market access. This is the most major challenge for all startups. The initial step to solve this problem is to look out for the major strength and then to find if there is a market for it. There is a clear space in matching the demand and supply. To overcome this problem the startups should look at one thing that they are good at. The most common mistake in any startup is that they try to choose the sector where there is more money and more profit. But the starting point should be the place where they have more strength. The ideal field of choice should be where the entrepreneurs have strong point and something within the comfort zone and try to sell it. Although there are some challenges that can’t be solved overnight. Sometimes the enterprise might find that the product they lunched didn’t meet the expectation. So to solve that the enterprise will have to adjust the price but until the enterprises put those assumptions into the market and test them, they won’t know the result.
Better Stories tries to provide the necessary consultancy and training that is needed to grow a business enterprise. The global startup failure rate is quite fascinating. Only 2% of startups get investment, finance and help while the rest go on to fail. So, there is huge difference in marketplace. According to Minahz Anwar it is immensely difficult to start a business in Bangladesh; it’s culturally difficult and it also difficult because of regulatory surprises. Better Stories is trying to overcome these challenges and intents to develop a suitable marketplace by instructing the entrepreneurs.