SZABIST

100, Clifton Karachi, Pakistan.

ENTREPRENEURSHIP
ASSIGNMENT
ENTREPRENEURSHIP BBA 8-C
Entrepreneurial Experience of Mr. Irtiza Rizvi, CEO Rungleela
Pakistan.

Submitted To: Sir Elia

Qazilbash
By: Ali Salman Wazir Ali
1011173
Moaaz Ahmed 1011184
Muhammed Ghazanfar
1011187

Table of Contents
1. The initiation of an Entrepreneur:..............................................................2
2. Previous Businesses:..................................................................................2
3. Funds for the Dreams (The Business Financing):.......................................3
4. Current Employee Statistics:......................................................................3
5. An Average Work-Day Hour for Making The Dreams Come True:...............3
6. The Target Market:.....................................................................................3
Meta Tags:............................................................................................4
The Royal Republic:..............................................................................4
Craftistan:............................................................................................4
7. The Most Crucial Things Done With the Business:.....................................4
8. Expansion Plans:........................................................................................4
9. Outsiders who have been most important to the business success:.........5
10. The Most Effective Marketing Technique:...................................................5
11. The Worst Business Advice ever received:.................................................5
12. Three Pieces of Advice from Mr. Irtiza to the New Entrepreneurs:.............6
13. The Exit Strategy to get out of this Business:............................................6
14. The Motto as an Entrepreneur:..................................................................6
15. The Visiting Card and Group Photo:...........................................................7

1. The initiation of an Entrepreneur:

Irtiza Rizvi missed his first

semester at SZABIST in August,

2010

to some unfortunate reasons. He

due

started his

BBA in January 2011. As soon as he

got

into

SZABIST,

he

opened

up

company named Rung leela. The

first
arts,

brand that he came up was truck

in

which he used to export the local

handicrafts. With the fusion of truck

arts

and

Persian arts, they had an exhibition

in

the

UK,

as

one

of

the

official

partners of the Pakistani film, Chambeli. He

started off with Rs. 3,500 in his
pocket

as

his

working

capital,

and

with

that

exhibition he generated quite a lot of money. That wasnt the end. Irtiza
followed it up by then creating Meta Tags, which basically makes dog
tags and lighters. After that, Rung leela came up with The Royal
Republic, which makes mens clothing. Right now, they have come up with
a new subsidiary called Craftistan, which hasnt been official yet, but
they will cater the Business to business markets. This subsidiary will offer
corporate giveaways to its clients.

2. Previous Businesses:
I have always had an affinity towards selling. I was 15 years old when I
started selling. Im not sure whether you call it an official business, but I used
to collect vintage coins and stamps, and then used to sell it to people. The
coins at the time of the East India Company and the stamps were some of
the noticeable collection I had. I used all of the things I learnt back then into
Rung leela. And Alhamdulillah, it has been successful Irtiza Rizvi, Ceo
Rungleela.

3. Funds for the Dreams (The Business Financing):

I never took any loan from banks nor my parents and neither

my

friends. I started off with Rs. 3,500 which were my savings,

and technically that was my working capital. After that, all
the money multiplied by the sales I started to make. And
today, Rung Leela has made a total of 6 million rupees, in

just

2 and a half years. The exhibition in the UK was a

stepping stone for me, in which Chambeli gave us

the

opportunity to be one of their official partners. We did

generate a good amount of money, and that money was used

to

further expand the business.

4. Current Employee Statistics:

At the moment, they have 10 direct employees, working on a full time basis.
The rest of them are indirect members, who basically serve as brand
ambassadors in different schools and universities. They are being paid on
commissions per sale.

5. An Average Work-Day Hour for Making The Dream

Come True:
Entrepreneurs dont have a life. You cant create a business and just expect it
to get it done on your own. You need to give a lot of time to it. Theres no
time limit for me exactly. I have worked for 16 hours a day as well in certain
scenarios as well. Since, Im studying side by side as well; I make sure that I
dont forgo either of the two. But 10-12 hours a day is very common for me.
However, for my direct employees, they have to work 40 hours a week. They
can do the work at home as well, but they should apparently complete their
weekly target.

6. The Target Market:

While studying at SZABIST, I have learnt one thing certainly, and that is to
DIVERSIFY. This is the same strategy that I have applied in my business. All
the three subsidiaries are catering different set of people.

Meta Tags: Meta Tags is for everyone. We started off with

targeting just the youth, but we realized that it was a brand
more than just for the youth. We have unofficially partnered
with Pakistan Army, official partners of Chambeli and many
corporate events at SZABIST.

The Royal Republic: The Royal Republic caters every

single individual who is firstly a male, is 16 years old or
above, and has a household income of more than PKR
100,000. Its a very expensive brand, and our offerings are
top quality. Hence, people who fall below this bracket wont
be able to afford it.

Craftistan: As already mentioned above, Craftistan hasnt

been officially launched. However, the operation has already
started. This brand will offer corporate giveaways to
different business clients. This is something that they will
cater to the B2B markets

7. The Most Crucial Things Done With the Business:

Everything! My time, my family, my friends, my life, every single thing has
been dedicated to get this done. I look back to the time when I started off,
with no money and a lot of negativity from my loved ones. But, it feels good
to be a 6 million rupee worth company in 2 years time. Im happy of the fact
that what I have done throughout this time, Im proud of it.

8. Expansion Plans:
Vision of my company is to become a company to generate most employees
in Pakistan. As far as expansion is concerned, recently I have some brand
under pipeline to start with. Considering market demand I am soon launching
a business of Customized and personalized gift accessories. Moreover, we
are planning to hire brand ambassadors of our brands outside Karachi to
penetrate in other markets.

9. Outsiders who have been most important to the

business success:
Mentors, customers, friends and suppliers. I consider friends as most
important for my business success because initially when I had limited
capital to invest and less presence of my brand, my friends volunteered for
my business initiative to market my brand by generating positive word of
mouth.
Furthermore, I believe customers are crucial for business and building long
term relationships with customer by providing quality product is the main
reason what my business stands today. Moreover, I might not be able to
provide consistent quality in my products if my suppliers werent supportive.
So suppliers are also important in growing overall business.
My mentor also play an important part by scrutinizing my plans that actually
help me in finding out the loopholes. My mentor also induce me with driving
energy to grow business.

10.

The Most Effective Marketing Technique:

I cant recall one specific marketing tactic but the effective marketing
medium for my brands are social media and word of mouth. Furthermore,
collaborations with bigger brands also one of the tactic that I used to grow
business. For example, we are unofficial partner of Army for dog-tags, we
were official partner of Chambelli movie for its launch. Recently, our brand
5

Royal Republic will also be available on Daraz.pk. So these were few

collaborations that has actually created positive word of mouth for my brand
and actually contributed in my overall Sales.

11.

The Worst Business Advice ever received:

You cant do a business with such small initial capital, think of starting a
business when you will be 30 years old and have some good startup capital.
If I have paid more attention to this advice, I wont be able to established the
business what I have today which is still growing.

12.
Three Pieces of Advice from Mr. Irtiza to the New
Entrepreneurs:

Money is not important factor to start a business,

important is a solid idea and inner drive to execute

the idea
Even if

it

is

something

common,

look

differently, you might end up finding something

unique
The aim of life should not be to live forever,
but to create something that will.

13.

The Exit Strategy to get out of this Business:

We do not have currently any exit strategy because we are here to stay in
market. However, if just God forbids we incurred too many losses in business,
to hedge this risk we have already adopted diversification strategy. I have
diversified the business portfolio by starting multiple brands which are
different products having different markets. In this way, I have averted the
risk of going out of business.

14.

The Motto as an Entrepreneur:

To create something you never had, you must do something you have
never done

15.

The Visiting Card and Group Photo: