We have been interviewing founders and operators on building enduring enterprises for years now. Each of these interviews come with practical insights and deep wisdom. We have recently started going through some of these interviews in groups in the hope of finding common patterns.
As we explore these detailed interviews with some of Bangladesh's successful entrepreneurs, our assumption comes true, a distinct blueprint for building sustainable businesses emerges. A deeply ingrained combination of personal philosophies, strategic operational principles, and a commitment to people.
Business is hard anywhere in the world. It is more so in the challenging landscape of Bangladesh. It means founders need much more than capital. Looking closely at the stories of these founders show that enduring companies are built on a foundation of character as much as capital.
I. Personal Philosophies
The journey of a sustainable business begins with the founder's internal compass. Across interviews, entrepreneurs consistently emphasize that their mindset and core values have played a critical role in their journey.
- Patience and long-term thinking: The desire for overnight success is a serious setback if you want meaningful entrepreneurial success. Nothing worthwhile happens overnight. Fahim Mashroor of BDjobs.com highlights that he was mentally prepared for a long journey from day one, which was crucial for surviving the initial challenging years of Bdjobs. He advises that entrepreneurs must understand that good things take time. The sentiment is shared by Habibul Mustafa of Khaas Food, who describes building a business as a "long-term commitment," not just initial excitement, and Rezwanul Hoque of Transsion Bangladesh, who stresses that a long-term vision is an indispensable lesson for success.
- Purpose over mere profit: Entrepreneurship is hard. If you are doing it for a shallow reason, it is hard to endure the challenges. A powerful, non-financial vision provides the fuel to persevere through inevitable hardships. Mahmudul Hasan Sohag's ambition for OnnoRokom Group is to build a "different, better Bangladesh", a purpose that goes beyond mere profit. Similarly, Fahim Mashroor was driven by a desire to contribute to his country and create employment. Raisul Kabir started Brain Station 23 with the vision of creating jobs and earning foreign currency, a goal larger than himself that empowered his team. This sense of a higher mission creates resilience and inspires dedication.
- Honesty and integrity: Contrary to cynical beliefs, founders repeatedly said honesty as a competitive advantage. Fahim Mashroor strongly advises that "honesty is still the best policy" and disagrees with those who claim it's impossible to succeed honestly in Bangladesh. The principle is further illustrated by Mohammad Rashed Ali Bhuiyan of Star Tech, who built his early business on the capital of his reputation, securing credit from suppliers who trusted his commitment and integrity. Hasnaeen Rizvi Rahman of Astha IT also credits his parents with instilling the crucial lesson of honesty.
- Discipline and strong work ethic: Success is not accidental; it is the result of structured effort. One of the common challenges that young founders face is a lack of discipline and seriousness. They misuse the entrepreneurial freedom and tend to live a listless life without consistent structure and routine. This takes a serious toll on productivity. M. Manjur Mahmud of DataSoft is a firm believer in discipline, maintaining a highly structured daily routine and emphasizing that "extreme discipline to commitment" is a key habit for success. Ashraf Kaiser of Benchmark echoes this, advocating for an aggressive, "whatever it takes" attitude, especially in the early days. M Asif Rahman of WPDeveloper uses a Trello list to set daily and monthly goals, viewing productivity as a process of continuously challenging himself.
II. The Strategic Playbook
A strong philosophy must be paired with pragmatic, well-executed strategies to navigate the market and build momentum.
- The power of focus: Spreading resources too thin is a common and costly mistake. We have written about this mistake many times. M Asif Rahman learned from a mentor the importance of fully committing to one endeavor before moving to another, a lesson that prompted him to shut down several initiatives. Mahmudul Hasan Sohag views his past mistake of pursuing too many things at once as a significant setback that he would advise his younger self to avoid. Raisul Kabir of Brain Station 23 found that deciding to be a service company, not a product company, was a "liberating experience" that allowed the business to excel and align with its core vision.
- Start small and stay frugal: Grand beginnings are not a prerequisite for success. Fahim Mashroor famously started BDjobs from a single room in his house with three borrowed computers and minimal investment. Ashraf Kaiser began Benchmark by taking any small job that came his way, from leaflets to single-page ads, without a flashy office. Mohammad Rashed Ali Bhuiyan started Star Tech with a 100-square-feet showroom. This lean, resourceful approach allows a business to survive the critical early years when cash flow is uncertain.
- Master your domain: Deep, practical experience in one's industry is a significant advantage. Mohammad Rashed Ali Bhuiyan asserts that practical experience is non-negotiable and that a founder must know the work "inside out" before starting a venture. M Asif Rahman states that founders with prior domain knowledge have a higher chance of success. For those lacking it, he suggests "buying" the experience by hiring senior employees who can fill knowledge gaps.
- Execute relentlessly: Ideas are abundant, but execution is what separates success from failure. M. Manjur Mahmud of DataSoft emphasizes that while planning is easy, execution is about getting your hands dirty and getting things done. He describes DataSoft as a very execution-focused company where every strategic decision is immediately followed by a task list, deadlines, and a tracking mechanism. Rezwanul Hoque also highlights that while Bangladesh has an abundance of ideas, the country often falls short on execution, which is critical for success.
III. Building Winning Teams and Culture
All the founders unanimously agree that a company's greatest asset is its people and that building the right culture is essential for sustainable growth.
- Hire for character, passion, and cultural fit: While skills are important, attitude and passion are what make all the difference. Almost all 13 founders from whom we source these insights agree to the fact that people make or break a company. If you have the right people in the team, everything else becomes easier. To that end, it is imperative that founders spend meaningful time in hiring the right people. Nizam Uddin of weDevs looks for entrepreneurial qualities, a passion for learning, and cultural fit over a specific educational background. Wahid Choudhury of Kaz Software screens for problem-solving and collaboration skills, believing that a relaxed environment allows such individuals to thrive. This focus on intrinsic qualities ensures that new hires can integrate into and strengthen the existing culture.
- Empower through trust and autonomy: Most founders view micromanagement as counterproductive and a barrier to growth. Wahid Choudhury built Kaz Software on the principle that if you give people trust and freedom, "they will always deliver". This is physically manifested in their office seating policy, where no one can see an employee's screen from behind, demonstrating trust. Raisul Kabir of Brain Station 23 built his company on a foundation of trust, allowing developers to communicate directly with clients—a practice that builds ownership and responsibility.
- Invest in people and share success: Aligning employee interests with the company's long-term success is a powerful retention strategy. M Asif Rahman has cultivated a unique growth-centric rather than profit-centric culture at WPDeveloper, where a majority of profits are distributed annually among all employees, resulting in an exceptionally high retention rate. Raisul Kabir has implemented a plan to offer equity and partnership opportunities to long-term employees who contribute meaningfully to the company's growth.
IV. Resilience and Learning
Finally, the entrepreneurial path is fraught with challenges and setbacks. Successful founders demonstrate resilience and an ability to learn from both victories and defeats.
- Learn from failure and setbacks: Mistakes are treated not as endings, but as invaluable learning opportunities. Raisul Kabir provides a detailed analysis of why his e-commerce venture Biponee failed, citing a lack of honest communication between partners and an incomplete business plan. Nizam Uddin learned the hard way about the importance of having clear, written partnership agreements after a promising startup was ruined by misunderstandings.
- Currency of reputation and networks: In the context of Bangladesh, relationships and reputation are critical assets. Mohammad Rashed Ali Bhuiyan's story is an example of leveraging reputation as capital. He started Star Tech with limited funds but secured extensive credit from suppliers who trusted his honesty and commitment, which became his primary form of financing. M Asif Rahman’s early involvement in the global WordPress community expanded his network and opened doors to opportunities he would not have had otherwise.
These are only some of the lessons we extracted from the journeys of these founders, there are more to learn. Building a successful business in Bangladesh demands all-out efforts on the part of a founder. It demands a personal philosophy rooted in patience, purpose, and integrity. This foundation must support a strategic business framework built on focus, frugality, and flawless execution. Above all, it requires a deep, unwavering belief in people and an ability to attract people who can get things done and an empowering environment where they can pursue their full potential.
Over the years, we have published conversations with hundreds of founders and operators from all walks of life. You can find them here and here.
