Successful Entrepreneur (Monis Rahman) And His Story

Before going through the story of successful entrepreneur first thing you need to know about is entrepreneur. Go through the points jotted down below to get an idea about what actually an entrepreneur is?

Entrepreneur

A person who creates new Business with his/her innovative ideas to make values for the customers by taking risks and enjoying profit and rewards.

Simply entrepreneur is an innovator of new ideas, goods, services, business and procedures. The process of setting up a business is known as entrepreneurship.

There are so many entrepreneurs in the world but only some of them become successful in their journey. Likewise i have shared here the story about a successful entrepreneur "Monis Rahman" from Pakistan who has gone through a long path to be listed in the Successful Entrepreneurs of Pakistan.

Monis Rahman was born in Lahore but spend his life in United States and Saudi Arabia. He comes from a very education oriented family. Monis picked up the profession of computer engineer. While in college at United States he got an internship at the biggest tech company (Intel). His skills were polished because of the wonderful environment in the company.

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Introduction of the business career

Monis has picked up a lot by sitting around brightest minds in the company (Intel) and went to set-up his own Chip-manufacturing company in California. At that time he was 27 and quite doing well for himself even Monis was ready to take the next step of exploring all the possibilities.

In 2003, Monis decided to sell off his business and moved to Pakistan to set-up the foundation of Naseeb.com. Actually he was inspired by the site Friends.com which was about finding friends or spouses but he decided to change the idea because of the Pakistani culture. The idea of Naseeb.com was to connect young, educated, professional Muslims through networks of friends by providing safe and trusted environment and platform.

Furthermore the human capital was also a reason behind Rahman's moving towards Pakistan, because the running cost of the company in Pakistan could have been 1/18TH of what it could have been in the United States.

Problems that Monis faced in his journey

As we know that problem are part of our lives and everybody faces problems in his/her life journey. Likewise Monis has also faced several issues in his entity. 

• Finding the right talent

Initially it was a big challenge or problem for Monis to hire the right person for his business. He could post an ad on the newspaper but it was too costly. At that time one job ad in the classified section in Dawn roughly cost PKR 850,000 which was too much.

Solution

Monis quickly made a website (Rozee.pk) in two weeks and put his ads on it there. A miracle we can say, happened at the time that other people jumped in Rozee.pk and started posting their own ads and that thing just went viral. Now Rozee.pk was getting more traffic than Naseeb.com because number of people started to use it, posting jobs and getting hired.

By analyzing the rapid growth ratio of Rozee.pk Monis decided to turn it into his primary business completely in 2008.

• Problem of raising funds for Rozee.pk

It was not a huge problem for Monis and team to raise funds for Rozee.pk because Naseeb.con was somehow profitable. But then the offers started coming in and Monis started considering the possibilities.

Finally Monis and team decided to take funds from very well respected VC's in the Silicon Valley (Draper Fisher Jurveston (DFJ) and E-planet capital, the same VC who invested in Skype, Hotmail and Baidu).

• COVID-19 and freezes of income

As we all are familiar with the virus COVID-19 ( a pandemic situation almost in all over the world). Every organization and business was closed and it was a huge challenge for the entrepreneurs to run business at that time.

Likewise Monis also faced several issues at the situation of COVID-19 that the income was totally freezed. The organizations were no longer posting jobs and nobody was getting hired at Rozee.pk. Even some organizations were not paying charges of their previous work due to the account deficit because of COVID.

One positive point of COVID-19 for the business of Monis was that people were focused on internet.

Future Plans

Every entrepreneur has future plans for his/her business So, Monis also have some future plans that he has discussed in an interview.

• Integration of SMS Network

As Monis told in his interview that most of the people approached him for help or for the notifications of updates So, he got involved in the plan.

According to the interview Monis thinks that SMS can be integrated with anything like schools, clubs and restaurants etc. Now Monis is trying to integrate SMS with Rozee to give out SMS job alerts etc.

• Plan of covering the most

Monis thinks that going international too soon for local entrepreneurs is a mistake So, he is planning to cover the whole Pakistan. That's why he is focusing now only in Pakistan. He also shared out about his work in progress plan (Mehnati Platform) that is basically Rozee's skinned in Arabic, especially for the people in UAE.

Conclusion

It's the beauty of the business that you start with a different shape and less investment ends with a huge amount in a different shape like Monis started with Naseeb.com and currently on Rozee.pk having huge figure of profit and popularity.

In my point of view his plan of SMS Network is the best one, in which people are getting more reliable feature of receiving notifications directly on their phone about jobs and hiring etc.

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