The risk of doing Business has always been too high. This high risk is one of the reasons why families discourage their children from starting businesses and instead focus on studies to get a high paid job. Such was the case of Momin Dayon, a self-made entrepreneur at a very early age.
While enrolling for honours, Momin took an interest in leather products; according to him, it had a broad market appeal among his peers. He bought leather products from different markets in Dhaka with an initial capital of BDT 25,000 saved from his pocket money, selling them within his circle of connections and various fairs. He kept rolling money with this side hustle, keeping it a secret from his family as they were against such initiatives thinking it would harm his studies. While selling products at one such fair in 2017, Momin learned about BYEAH and their various Entrepreneurship Support Programs.
Basic Entrepreneurship Training Course
Momin decided to join BYEAH’s entrepreneurship support ecosystem and got the Basic Entrepreneurship Training, where he learned that he could generate more profit if he produced leather products in a short range instead of buying products from one shop and selling them elsewhere. He was able to differentiate between Entrepreneurship and Trading Businesses. After the training, he was able to formulate a feasible business plan and got connected to a mentor who guided him from then on. Re-investing his money in renting a small factory in Mohammadpur, he started production of leather goods from processed wholesale leather with 2 employees. Thus, Momin started his venture, Samo Leather. Participating in various business fairs with his product, trying to turn Samu leather into a brand.
Advanced Digital Training Course
Momin further took an Advanced Digital Training course from BYEAH, which helped him to expand his horizon to e-commerce. Marketing and selling his products on his business website and various online e-commerce platforms.
With a Capital of BDT 15 Lacs, A working Factory with 6 machines and 7 employees, Samo Leather is an established business with sales of its products in popular e-commerce platforms like Daraz and Alibaba.
When asked what his plan is for his business, Momin Dayon replies, “In the next three years, I want my products to reach various districts of Bangladesh developing a brand of my own. I want to expand my factory and employ 50 more employees. Finally, my family is supportive of my decision to start my business. My advice to young people is not to rush for jobs, instead aspire to be an entrepreneur who creates job opportunities.”
Momin Dayon is moving towards his goal while inspiring the spirit of entrepreneurship among young people.