Syed Mustafa- Entrepreneur & Strategic Investor

Enterprizing 0 Comments

Tell us about yourself & about your Business?

Myself: I am born to an upper middle class family and I am the eldest among all the siblings. I am the first Generation business man. I have a lovely wife who is always supportive and two doting daughters. My sister works in a Multinational company. I lost my father when I was in my college. I have my caring mother with me by God's grace. And I am a proud Indian and an Assamese.

About Business: I am into Logistic, Financial services and products, Insurance, IT solutions, Network Security Technology, Distribution, Real Estate, Wellness, Customer Service

What is the story of your business?

I started my business career immediately after completing my graduation as I couldn’t find a job and most importantly, I was more attracted to doing business. I started as a supplier of raw materials like Chips, Sand, bricks, cements etc to construction site. Slowly but steadily I started to venture to other business like taking DSA of some reputed financial institution and banks catering Motor, Home, Personal loans to customers. Vertically I started distributorship of mobile phones and various electronics products. By the year 2011, I started Courier and Cargo Business by taking Super Franchise of Northeast India of a reputed International and Domestics Courier. By the year 2017, I ventured into Financial services and products like Bank CSP, MATM, MPOS, ATM, Payment solutions etc. In the year 2018 I started to venture into end to end IT solutions, Video surveillance industry, network security technology, IoT data collecting terminal and service provider by partnering with leading companies in respective fields. In the year 2019,I decided to venture into wellness Industry by partnering with a leading online fully automated diagnostic laboratory with a focus on providing quality  at affordable cost to my clients.

Tell us about your achievement you are most proud of?

I have more to achieve but I am proud that I have never gave up. I believe in hard work and The Almighty to success.

What were the difficulties that you face and how did you overcome them?

Being a first generation entrepreneur and coming from a middle class family I always found financial backing a real problem. But I overcome by investing only on sales and marketing and not much on back office as I was directly involved in order to be closed to my clients and in a way to cut costs. I believe in employing college going students and free lancers besides my employed professionals in my sales, marketing and promoting products. I give them commissions and incentives. I have to overcome lots of hindrances in the form of burglary, betrayal by staffs, partners, companies, loses in business, I did nothing for one years and sat at home but I kept myself occupied by writing tech blogs.

How difficult is it to stay in this industry nowadays?

The market is quite competitive and not forgiving. You always have to be on top of your game to compete with your competitors. And again Indian economy and the current situation of covid-19 is taking a toll on business.

What are the guidelines that you follow with your clients?

The clients are the main stay of  a business and it is very important to keep them happy. The most important part for any business to survive is after sale support. I always keep that in my mind and always ask my partner companies to adhere to it strictly.

How helpful is social media for your business?

Social media plays an important role now a days in creating leads and opportunity for business and most importantly you can use social media to promote your products at very low cost or sometimes free.

How has the market changed in past 5 years?

The market has taken a drastic changes in the last five year. The economy had taken a foot back but the role of marketing has changed over time. Digital marketing have intended to draw the consumers into brands have changed as the message conveyed online should be same as in the offline. Today the consumers wants to know how the brands will give valuable products or services at cheaper price. 

Do you plan to grow your business by including more verticals to it?

I am always in favour of growing business by including more verticals as I am doing over the period of time but now I have slow it down to an extent due to current prevailing situation. Perseverance is the most driving force to succeed in business and in fact in any field. 

, , , , , , , , , , , , , , , , ,