CED | Center of Entrepreneurial Development

Express Tribune on CED-KIET's Approach

2014-05-08T02:40:00.000-07:00

Click the above image to enlarge, or read online at

http://tribune.com.pk/story/705400/how-to-start-a-business-with-limited-capital

Video: How to Start your Business with Limited Experience or Capital

2014-04-26T22:44:00.000-07:00

INJAZ BSU Program for PAFKIET Students, for Free!

2014-03-06T01:27:00.000-08:00

PAFKIET has signed an MoU with INJAZ Pakistan, now all students at PAFKIET who have a sound business idea can get themselves enrolled in this program for FREE!...

Documentary: Save the Last Chance - The Entrepreneurial Escape

2013-11-27T01:17:00.001-08:00

This documentary intends to bust various myths regarding starting up new businesses as taught in MBAs programs and explains an alternative methodology to set up one's own business with the available resources. The documentary ends with a 'Prolog' which is meant to be a beginning, an initiation rather for the aspiring ones to take entrepreneurship as a career option, The methodology presented here is successfully being utilized by many PAFKIET students, some of whom are already mentioned at the end of this video, complete list however is available at ced.pafkiet.edu.pk/p/established-businesses.html.

Speakers:

Dr. Irfan Hyder, Dean, CBM;

Dr. Shahid, Associate Director, Center of Entrepreneurial Development, IBA;

Mirza Raza Ali, Chairman, Avid Institute of Research and Development;

Omar Javaid, InCharge, Center of Entrepreneurial Development, PAFKIET

(This is a low resolution version for easy streaming and download)

Setting up a Designer Clothing Business in Rs. 15000

2013-11-03T07:11:00.002-08:00

Post by Center Of Entrepreneurial Development.

Please link Farrukh's page... https://www.facebook.com/PalachiClothings

From Home Based Food Distribution Business to a Resturant

2013-11-03T07:10:00.000-08:00

Post by Center Of Entrepreneurial Development.

Asad explains how he started a business is Rs. 5000

2013-10-14T01:08:00.000-07:00

Post by Center Of Entrepreneurial Development.

Asad Shah, a KIET main campus BBA student, explains how he started a Doc Tag business in just Rs. 5000. Please don't forget to like his page: https://www.facebook.com/makeyourowntag

How to establish a Pizza Outlet

2013-10-14T01:02:00.000-07:00

Post by Center Of Entrepreneurial Development.

Imran Arain a PAFKIET student started a Pizza outlet near disco bakery 3 months ago. In this video he is explaining his experience. Please like his facebook page: https://www.facebook.com/DayNightPizza

Jamal explaining his trade business

2013-10-14T00:59:00.000-07:00

Post by Center Of Entrepreneurial Development.

Jamal, a PAFKIET student, has a simple distribution business, in this video he explains how he started

CEO of Toxicity explains how he started his Business

2013-10-14T00:51:00.001-07:00

Post by Center Of Entrepreneurial Development.

Mustafa started his business around 3 years back, his portfolio of products, which includes mobile and laptop skins, perfumes, casual wear etc can be see at http://www.toxicityproducts.com/.

Why we Search for Job Security. Why Not Risk Taking

2013-03-29T12:31:00.000-07:00

By Dr. Irfan Hyder

Why are we so afraid of taking risks?
Why our primary focus is on jobs that provide security?
Why people go after a pensionable, secure, career job?
Why people think that becoming a government "servant" is their ultimate goal?
Why "sarkar ki naukri" has so much premium?

An analysis of these questions takes us to the time of the early 19th century and after the 1857 war of independence when the British Raj eliminated the land entitlements of the aristocracy. The landed aristocracy of subcontinent especially the Muslims found themselves literally penniless as they lost their entitlements, and their regular earnings from their land holdings disappeared. They found themselves with no marketable skills or knowledge. Their Persian language skills became worthless overnight as the official business started getting transacted in English (recall the famous saying "Farsi seekho, tael baicho").

Culturally the aristocracy of that time, especially Muslims, had looked down upon craftsmen as "kum-mi" (menial), and avoided the trades and crafts that require working with hands. They used the terms related to crafts pejoratively and disparagingly: Jolahay (artisan), taeli (seller of oil),kumhar (potter), qasai (meat seller), baniya (shop keeper), mazaray (field hand), .....

Hence, they effectively shut themselves out of the businesses related to these crafts. The aristocrats or the elites therefore had no option but to go for English studies at the new schools/colleges so that they can eventually become government "servants". Those who did not take the modern schooling to government route and also shut themselves out from the crafts and trades went hungry and their plight has been captured by several renowned poets as exemplified in the poetry, letters or life of Ghalib, Insha, etc [included still in our syllabi] and depicted by authors for e.g. in the heart breaking story of Mirza Sikandar Bakht and included in the matric Urdu syllabus of 1977 of Sargodha Board [would someone tell me the author name?].

In short, we saw during the late 19th century start of a mad rush towards the secure job of the British India Government Servant, and continuing even after partition. I have seen myself official government correspondence being transacted till late 1970s and even in to 1980s, where the government officials would sign the official notes and letters as "Your Most Obedient Servant"!

The safety and security of a government job (or a career job) robs you of your independence, destroys your "khudi", makes your prime duty to obey the commands and dictats of the superior. You become like a caged parrot. He has the security of a cage. He does not need to be afraid and continously be on the lookout for a prowling cat or a diving eagle. He has food security. He would daily get his rations in the mornings and evenings. He has a gilded cage. He is only expected to sing and please the master when the master so wishes. The master may reward him by taking him out of his cage for a few moments of supervised liberty but only after ensuring that the wings have been properly clipped. He has everything except liberty to do what he wants to.

The slave mentality and the psyche so developed in the Muslims of the subcontinent was the major target of Iqbal. His metaphors of Hawk/Shaheen (who preys himself and goes after a live prey), and denigration of vulture/kargus (who feeds on someone else's prey or dead meat") attacked this mentality.

"Woh fareeb khurda shaheen jo pala ho kargasoan may
Usay kya khabar keh kya hay, rah o rasm e shahbaazi" - Iqbal

Iqbal wanted us to be shaheen who lives on the skies, and does not settle down in plush homes, and Shaheen is not afraid of fluctuation of fortunes (jhapatna palatna, palat kar jhapatna) were all intended in liberating us from our love for security, safety and official residences. However, the love for security, safety and official residences still reigns supreme in cities like Islamabad and in particular communities.

But, then there are communities like the ferocious tribals and Afghans who could not be tamed by British. They led their lives independently, and still do. Who are enterprising, willing to work any where, go to any wilderness and start from nothing with a chai-khana (tea stall) under a tree, travel all their lives on roads (driving trucks), moving from one place to another. There are desolate parts of Pakistan where you would wonder who would ever have the courage to settle and do this kind of tough work of breaking rocks and mountains, and you will find that tribals are there doing work which no one is willing to do because it is risky and hard. British manipulative machinery tried its best to kill the spirit of these tribals by spreading jokes such as those referring to "akhroat" and "pathans", but could not. There are also settled business communities like memons and chiniotis who are enterprising and create their own business and space using trading system for their liberation. They are the real risk takers. They have also been made target of jokes. Unfortunately many unsuspecting from amongst us relate these jokes without understanding how they were designed to malign our psyche and mentality.

You will see a common strand among all such enterprising communities. They make their children start in a small shop or even a street stall at a very early age. They know that the real learning is not in books but in real life with real people. Yes, reading, writing and arithmetic are important and must be learned and this a person can do in a few months or in a few years starting at any age. However, refinement of language and arithmetic skills takes place in the real life. Business learning at an early age through small enterprises can lead to great things. See for example "Made in America" the autobiography of Sam Walton of Walmart who at the time of his dying around 1993 was the richest man of the world.

If today after 65+ years is not the time to get out of this slave mentality, then when would it be. Unless we begin to take our destiny in our own hands, stop denigrating work and craft, things would not change. The change is visible and is coming. We see now people looking favorably at crafts. For e.g I see in Pakistan upscale businesses with names such as "Darzi" and "Kaarigar", and boutiques, fashion designers (even Islamic fashion designers), Meat One, Gourmet, Nirala sweets etc. We are rediscovering the importance of sunnat of the Prophet by reverting towards business and trade.

Current state of affairs in Pakistan is now making us realize how difficult it is to assume responsibility and take ownership of our own destiny. But, this is the cost of real freedom.

"Apni duniya aap paida kar agar zindoan may hay" - Iqbal

About the Author: Dr. Irfan Hyder is an IT Guru, Dean at IoBM, and Founder of L2L Club.

This is a cross post from I2L Blog

The Fruits of Business Education

2013-03-22T12:23:00.000-07:00

By Yasir Mirza

A few weeks ago I had dinner with two very good friends who are finishing their final semester at Szabist Business School. I couldn't wait to hear about the ideas being thrown around and the businesses being built by their classmates. At the end of our dinner I was not impressed. Disappointed in fact.

I listened and they explained that 90% of their classmates came to business school to go right back into Job market. From the day first when born we use to feed him/her that prepare yourself for Job. And Job is the last hope so where is the creativity and innovation. These prestigious business schools teach us how to become a good Job hunter and prepare us how to find a Job and how to switch a Job. COOL

“Don’t use graduate school, or any other course of study, as a form of life avoidance. Pursue the course only if there’s a good reason.” ~Chris Guillebeau

Most people who’ve come to me have hit a breaking point. They can’t stand it anymore. A change is a must. This is an empowering place to be. It gives you the best chance of taking action. If the pain is great enough we’ll do something about it.

But the danger is that when your job makes you feel like you want to jump off a cliff, then often anything in the world looks better. So you’re likely to jump onto the first thing that comes to mind. And many a time the easy next step (that requires very little actual thought or work) is to say “hmm, why don’t I go back to school?”.

The problem is we forget to stop and ask why.

Making a change is not about just finding the next thing. Odds are if you don’t understand yourself, what you want and what you’re naturally good at, then you’ll be in the same place 6 months from now–or even worse, you won’t totally hate it so you’ll sit in that meaningless zone of complacency for even longer. I call that negative progress.

Recognize the opportunity you have. This is your chance to be epic. To take the world by the horns and figure out what you are here to do. You might not figure it out but you’ll at least have an idea of what you’d like to try. And that’s as good as you can ever get. As long as you’re trying what you think you are meant to do, you will constantly be learning and refining and getting closer.

Many MBA programs have become factories for making consultants and bankers. This may be the surest route to making a ton of money (and probably hating your life), and university like when wealthy alumni give money back to their university. This is why many students come, so that’s what they teach. It’s also a lot harder to teach how to be an entrepreneur compared to simple business theory. And it’s even harder to teach (and test) what your purpose is – how you can best impact the world. So they don’t.

Every year at Warren Buffett’s annual meeting in Omaha, someone asks him, “I just finished business school and want to follow an investment path similar to yours. What should I do?” His response is usually something like “Well first unlearn half of what they taught you, and then…” He’s serious. Almost every business school teaches that value investing (Warren’s method) is impossible. How crazy is that? This is why my partner and I took his advice, didn’t get an MBA, and instead created our own curriculum with books, businessmen, mentors and good old trial and error.

This is just one example but it’s representative of a greater problem. Be careful with your expectations of what you’re actually going to learn and how applicable it will be. Can you find a cheaper and richer source of learning the same curriculum?

I have left my MBA today

The Constitutent of an Entrerpeneurial Eco-System

2013-03-20T23:21:00.000-07:00

A culture where experiments are encouraged, mistakes are not discouraged as long as students learn and don't repeat them, fear of failure is replaced by courage to take risks is necessary to provide a conducive environment to students to start their own venture. This cultural transformation should be the ultimate responsibility of any Center of Entrepreneurial Development at any university, which intends to encourage its students toward becoming entrepreneurs. Following are some of tips which would help develop such a culture.

1. Teachers to acquire the role of consultants, guiding students during each step of the process of establishing a business, they shouldn't penalize mistakes, rather reward and encourage if mistakes bring new learning. Students shouldn't have fear of losing marks in case they aren't able to successfully start a venture. Marking should be based on the dedication of student practically to execute the instructions given by teacher/consultant, not on the outcome. An environment of mutual trust and respect has to be established between the faculty and students, but this doesn't mean leniency. The teacher should pose themselves as learners and actively engage in the learning process, encourage students to teach them from their experience, instead of bossing everyone around.

2. Students are made to initiate his first venture with their pocket money or any angel investor (which he should find himself) in his first semester (the idea is to set his context for all the learning which is to come)...

3. All courses to be project based, and at least three courses (3 crdt hr each) in which a student would do nothing but make an attempt to start up a business.

4. If CED has money to invest, then no investment to be given till final year, or at least once they have been successfully operated for six months

5. A space to be dedicated to establish a market where students would open up their shops and sell, university canteen, tuck shop, photocopy to be operated by students, not as employees but as entrepreneurs, etc

6. A more informal and less structured interaction with teachers/consultants, teachers to give more time outside the class, lots of meeting places to be provided for this

7. Teachers to start-up their own enterprise, and with students as partners.

8. A lab to simulate business start up (don't know how to make it, but inspiration taken from John Hunter's World Peace Game presented at TED)

9. A social entrepreneurship course which would help enable students to experience the satisfaction of creating an employment for a poor fellow...

10. etc.

How to Register your Business as Sole Proprietorship

2013-03-15T13:50:00.001-07:00

Mr. Sajid Hussain Zubari, who is Lawyer by Profession, is explaining the legal process of registering a sole proprietorship in Pakistan. He also explains the backdoor channels available in the market and the drawbacks of using them. This interview was taken by Furrukh Zuberi who is an MBA student at PAF-KIET. Mr. Zubari can be reached at +92-300-9289995

Your Career is for Your Life

2013-02-18T21:50:00.002-08:00

By Admin (Unedited, pardon for any grammatical mistakes)

So (a) is your life is for your career, or (b) your career is for your life? When I ask this 99% respond that its 'b'... the remaining 1% are confused about the question. So when your career is for your life, just like you eat to stay alive, and don't stay alive to eat, then the next question which eventually comes is 'What your life is for then?'

This is the question which I ask in response to the question put in front of me by some student "Sir may BBA karon ke BE, ya BS main transfer karalon?" etc... they ask me about the next step they want to take, and when I ask them what is your ultimate destination toward which your this step (your degree) will take you, they are clueless, looking left & right...

My dear brothers and sisters, you first need to plan your life and what you ultimately want to achieve, i.e. something so worthy that after spending your entire live journeying toward that destination, you say that it was all worth it, and you don't feel an atom of regret for wasting even a single moment while travelling toward this destination, goal, target, vision, or what ever you may want to call it.

How do you know what that be? This is a lengthy time consuming process, therefore the earlier it starts the quicker you will be able to figure out what that ultimate goal of your life would be... some students are so oblivious that they say 'Sir abhi to zindagi pari he sochne ke liye, guzerne do jesi guzar rahi hai'... they don't realize while making this assertion, that while drifting away on the currents of time, they would eventually waste the most precious moments of their lives they would ever get, i.e. their golden age from 17 to 27 (+ - 1 year)..

This should bring more questions in your mind, but instead of anticipating them and trying to answer them in advance, I would prefer you students to put them forward, and then I will try to answer them...

thats all for now....

Mr. Andy Sharing Experience of his Network Marketing Business

2012-12-21T01:51:00.003-08:00

Sheetal and Habib, students of BBA at PAF-KIET interviewed Mr. Andy Mansoori to learn about his entrepreneurial experience of setting up and managing his Network Marketing Business

Arshad Jawad, CEO Mr.Burger, Sharing his Entrepreneurial Experience

2012-12-21T01:50:00.001-08:00

Interview taken by BBA students Jahanzaib and Waheed of PAF-KIET

CEO of Homeshopping.pk shares his Entrepreneurial Experience

2012-12-21T01:48:00.002-08:00

This is an Interview of Shayan Tahir, CEO of Homeshopping.pk, one of the youngest entrepreneurs in Pakistan perhaps, his brand is also a winner of Brand of the Year Awards... In this video he sharing his entrepreneurial experience with Saad and Ayesha, BBA students of PAF-KIET

How to Manufacture & Sell Lip balm in Rs. 3000 only?

2012-12-14T23:25:00.000-08:00

Earning up to Rs. 1500/day through Fancy Birds Breading Business

2012-12-14T23:20:00.000-08:00

Starting a Biryani Business in Rs. 10,000

2012-12-14T23:16:00.000-08:00

Starting a Business of Home made Decoration Items

2012-12-14T23:14:00.000-08:00

Steve Blank's Business Model Canvas

2012-12-11T07:33:00.002-08:00

Please click here to download the Business Model Canvas template, its a simple tool to visualize and test your business plan model. Its divided into 9 parts, each of describes an aspect of your business model.

How to use: In the start you will fill in each of these sections with what you have imagined about each of 9 aspects of your business model. This will of course be hypothetical if you are doing it for the first time. After this, Blank suggests, you would use standard business research techniques like interviews and surveys with your stakeholders relevant with each aspect of the model. For example, your assumed value proposition, you need to interview your prospective customers or clients whether what they think about it etc. Blanks suggests that it takes around 8 iterations to finalize your model, as after each revision, you are suppose to recheck your assumptions again... watch this video to learn how it is done.

For further details please visit following two websites

a) http://leancanvas.com/
b) http://www.businessmodelgeneration.com/canvas

OPEN Karachi, Annual Convention 2012

2012-12-06T10:18:00.001-08:00

Sell your Business Idea in 30 secs

2012-11-10T00:10:00.001-08:00