The young and the restless

Why step in to the technology sector?

About 30 years back some brave entrepreneurs took some bold moves to step into the global RMG sector.  And now we can see how wonderfully that played out – it's the largest foreign currency earning sector for Bangladesh. Similarly, after conducting extensive research, we believe that the next breakthrough will occur in the technology sector and it is high time to invest here. Slowly and steadily, we will be able to design, develop and market premium quality handsets to the local and international market. Of course we will be collaborating with our foreign counterparts, but the innovation will be from Bangladesh. So we took a big risk and entered the technology sector.

As an entrepreneur, what are the key principles that you believe in?

Well, being an entrepreneur and starting a business or startup isn't easy. But if you are passionate enough then it's not as hard. I follow a golden rule: "Do what you love and love what you do." So we only hire and work with people who believe in what we are doing.

I really believe that an entrepreneur has to take bold and calculated risks. So everyone supporting him should be on the same page. As an entrepreneur, I have to know the field I am working in inside out.

What are the steps that one should take when they intend to start up a business?

I'm going to share how we do things at Elite. The business model that we follow is a bit different compared to others. First we do extensive research to find out how good of a business it can be and what would be the revenue in the long term. Then we do a pilot project to test our hypothesis – we call it 'the test drive phase.' If successful, we move ahead and start to set up our business. At the initial phase anyone is bound to face countless challenges. We consider that a blessing. Because the more problems or challenges you overcome, the better your product will be.

What are the challenges that you faced when you started Elite Technologies?

The initial challenge was actually convincing ourselves – whether we should embark on this journey at all. Some common challenges were there too, i.e. setting up the company, setting up the office, developing a marketing plan, sourcing, branding, hiring the right people, etc. Starting from the small things like the official logo and font, to high stake matters like designing the product and campaigns – every part of the initial journey was a challenge.

Some say that generally a tech business requires a young CEO. What would be your opinion on that?

I don't completely believe that. Young people might be visionary when it comes to technology, but running a business smoothly requires people who have sound business experience. A tech business should be a mix of both youngsters and experienced people.

You plan to launch several handsets in a very competitive market. How is it going to set itself apart from the crowd?

When we started our journey they were the sole thing we focused on. We made sure that each and every product got the right amount of attention, be it an entry level basic phone or a pricey flagship. We know that every user's experience is important. All the phones that we designed were tested and operated by our top management so that we could understand and eventually cater to the need of the users. Every aspect of our phones is reviewed by global industry veterans to ensure the best possible experience. We've put up the best possible hardware at the most affordable price.  We've tailored accessories and packaging keeping in mind our target group.

In addition to that, we've focused on after-sales services. Most of our products are not even in the market, yet we have already opened up 30 plus service centres. We are on the verge of launching our call centre with a dedicated short code. These are some of the main things that I believe will put us ahead of our competitors.

How diverse will your product portfolio be?

We have fashioned a diverse portfolio. Our main categories will be: basic, feature and high-end. We will also be having several sub-categories, such as entry-level, mid-range and flagship.

What would be your target market?

Our first target is Bangladesh. This year we plan to spread out as much as possible throughout Bangladesh. Next year, if everything goes as planned, we will start operation in Myanmar, some African countries and the Middle East. We believe we are the only local handset manufacturer who plans to export handsets abroad. This will be a milestone in Bangladesh's business scenario.