by BreakBite Editorial Wing | Apr 27, 2024 | WSME Business Insights
Empowering Women Entrepreneurs: Successful Online Q&A Webinar on HR Strategy by WSME Business Support Center
Date: April 27, 2024
Time: 1:00 PM to 2:15 PM
Mentor: Shabnin Rahman, Senior Lecturer, Department of Management, NSU
The Women Entrepreneurs Business Support Center, a key initiative under the We-Fi project of the World Bank, successfully hosted an enlightening online Q&A webinar on HR Strategy on April 27, 2024. The webinar was led by Shabnin Rahman, Senior Lecturer in the Department of Management at North South University, and focused on innovative human resource strategies for small and medium-sized enterprises (SMEs).
In her opening statement, Shabnin Rahman highlighted the financial hardships commonly faced by SMEs, which often hinder their ability to invest in attractive HR strategies. However, she emphasized that SMEs could implement effective HR strategies without incurring significant expenses. The webinar covered crucial HR topics, including:
- Hiring Strategy
- Training and Development Strategy
- Retention
- Employees’ Expected Behavior & Ethical Issues
The discussion was highly interactive, with many women entrepreneurs sharing their experiences and plans for managing and utilizing their workforce. Rahman provided practical examples and insights, illustrating how SMEs can adopt HR strategies without a designated budget.
Hiring Strategy: Rahman explained that hiring can be done cost-effectively. She suggested leveraging networks to search for employees, offering incentives to team members, and instituting a “day in the life” program to assess candidates’ passion for the job. Ms. Shahina agreed, noting that entrepreneurs could indeed hire without significant expenses by following these strategies.
Training and Development: Due to financial constraints, women entrepreneurs often cannot hire expert workers and must train their employees from the ground up. Rahman emphasized the importance of a proper training and development strategy, especially when the business is on the verge of expanding and introducing new products.
Retention: Entrepreneurs expressed concerns about retaining employees after investing in their training, as trained workers often leave for better-paying jobs or start their own businesses. Rahman offered several key points to enhance employee retention:
- Make workers feel connected to the business.
- Ensure employees feel like an essential part of the team.
- Foster a team-oriented environment without hierarchical barriers.
- Always pay employees on time and maintain a safe, healthy working environment.
- Provide small perks, such as free beverages and occasional team meals.
- Offer moral support and reasonable financial advances when needed.
Ethical Issues: Rahman addressed concerns about employees engaging in unethical practices, such as sharing product designs and sensitive business information. She advised dealing with such issues professionally by terminating unethical employees promptly and ensuring that employees do not feel indispensable.
During the webinar, Rahman shared insights from the Western business world, where employees handling customers sign documents committing to the principle that “Customer is always right.” This practice fosters a culture of respect and attentiveness towards customers, which many participating entrepreneurs found valuable.
The session was highly productive, providing women entrepreneurs with practical HR strategies and fostering a deeper understanding of effective workforce management. The Women Entrepreneurs Business Support Center continues to empower women entrepreneurs by offering valuable resources and insights through such webinars.
by BreakBite Editorial Wing | Apr 20, 2024 | WSME Business Insights
Empowering Women Entrepreneurs: In-Depth Online Q&A Session on Business Growth Strategy by WSME Business Support Center
Date: April 20, 2024
Time: 11:00 AM to 12:00 PM
Mentor: Tilka Farzana, Lecturer, Department of Marketing, NSU & Partner, Wed Window
The Women Entrepreneurs Business Support Center, a key initiative under the We-Fi project of the World Bank and organized by BreakBite in collaboration with North South University, successfully hosted a comprehensive online Q&A session on Business Growth Strategy on April 20, 2024. The session, led by Tilka Farzana, Lecturer in the Department of Marketing at North South University and Partner at Wed Window, provided invaluable insights into strategic business growth for women entrepreneurs.
Tilka Farzana began the discussion by sharing her inspiring journey of starting her own café, The Red Window Gulshan. She narrated how she nurtured her dreams and turned them into reality, emphasizing the importance of following one’s dreams and passion, listening to one’s heart, holding on to dreams, and nurturing them to grow. Farzana encouraged the participants with the mantra: “Never give up… start & restart!”
The session covered several critical growth strategies, including:
1. Market Penetration: Farzana discussed ways to increase market share within existing markets through competitive pricing, marketing efforts, and customer loyalty programs. She emphasized the importance of understanding customer needs and delivering consistent value.
2. Product Development: Strategies for innovating and improving products were highlighted. Farzana stressed the need for continuous research and development to meet evolving customer preferences and stay ahead of competitors.
3. Market Development: Exploring new markets and customer segments was a key focus. Farzana advised on identifying potential markets and tailoring products and marketing strategies to suit the new audience.
4. Diversification: The importance of diversifying product lines and services to spread risk and create new revenue streams was discussed. Farzana shared examples of successful diversification strategies.
5. Target Market Identification: Farzana explained how to effectively identify and target specific customer segments. She underscored the importance of market research and data analysis in crafting targeted marketing campaigns.
6. Value Proposition: Crafting a compelling value proposition that differentiates the business from competitors was a critical discussion point. Farzana highlighted the elements of a strong value proposition, including unique benefits and competitive advantages.
7. Team Building: Building and nurturing a strong team was emphasized as a cornerstone of business growth. Farzana shared strategies for recruiting, training, and retaining talented employees, even with limited resources.
8. Investment Options: Various investment options for business expansion were explored. Farzana discussed the pros and cons of different financing methods, including bootstrapping, venture capital, and loans.
9. Cost Leadership: Strategies for achieving cost leadership through efficient operations and cost-effective resource management were covered. Farzana explained how maintaining low costs can provide a competitive edge.
10. Cross-Selling: The benefits of cross-selling related products and services to existing customers were discussed. Farzana provided practical tips for implementing cross-selling strategies to increase revenue.
An intensive discussion took place with several women entrepreneurs who shared their experiences and challenges:
Rosy (Nurjahan Begum):
Business: Sharee Baksho & Panchfuron – Ma er ranna recipe
Issues: Time management, delivery issues, and products easily copied by competitors
Discussion: Strategies for team building, resource utilization, cloud kitchen investments, funding, and budgeting were explored.
Yasmin Sultana – Jessore:
Business: Nandonik Shomahar & Nandonik Bhoj
Issues: Challenges with the business model
Discussion: Focused on refining and improving the business model for better efficiency.
Bornali Chakraborty – Mymensingh:
Business: Bornali’s Cuisine
Issues: Large market size, need for resources, and team building
Discussion: Addressed strategies for acquiring resources and building an effective team.
Roksana Parvin – Pabna:
Business: Roksana r ranna r Moshla
Issues: BSTI issues and cross-border e-commerce
Discussion: Solutions for compliance with BSTI regulations and expanding into cross-border markets.
Rahaitul Jannat Rakhi:
Business: Girly Boutique – Maslin products
Issues: Slow sales progress, high production costs, pricing challenges, payment methods, quality of clothes, branding
Discussion: Strategies for improving sales, reducing costs, effective pricing, and enhancing branding.
Aditya Yasmin:
Business: Moshla
Issues: BSTI issues and cross-border e-commerce
Discussion: Similar to Roksana, focused on regulatory compliance and market expansion.
Nadira Parvin:
Business: Homemade Moshla
Issues: Delivery personnel, delivery costs, expansion and growth
Discussion: Solutions for managing delivery logistics and strategies for business expansion.
Fatema Akhter Akhi:
Business: Maria Fashion House
Products: Customized dresses, clothes, and potential expansion into male products
Issues: Market expansion, business growth, and investment for an outlet
Discussion: Explored avenues for market expansion and securing investments for a new outlet.
Farzana also highlighted the importance of delivery companies specifically catering to home businesses and discussed the scope of exporting, including dealing with BSTI issues and cross-border e-commerce. She provided practical advice and actionable strategies tailored to the unique needs of each participant.
The session was highly productive, offering women entrepreneurs a platform to discuss their challenges and receive expert guidance on business growth strategies. The Women Entrepreneurs Business Support Center continues to empower women by providing essential resources and insights through such interactive sessions.
by BreakBite Editorial Wing | Mar 6, 2024 | WSME Business Insights
The Women Entrepreneurs Business Support Center, a key initiative under the We-Fi project of the World Bank and organized by BreakBite in collaboration with North South University, successfully conducted its third workshop focused on Business Presentation and Pitch Deck on March 6, 2024. The workshop, led by Mr. Samuel Mursalin, faculty member from the Management Department at North South University and Coordinator of NSU Startups Next, provided invaluable insights into crafting effective pitch decks tailored to different audiences.
The workshop aimed to equip women entrepreneurs with the skills necessary to create compelling pitch decks that effectively communicate their business ideas and strategies to potential investors, partners, and stakeholders. Mr. Mursalin emphasized the importance of storytelling, market analysis, and business model considerations in creating a successful pitch deck.
Key Highlights of the Workshop:
1. Crafting an Effective Pitch Deck: Mr. Mursalin began by discussing the key components of an effective pitch deck. He highlighted the importance of having a clear and concise structure, with each slide serving a specific purpose. The recommended number of slides and their content were discussed in detail, with practical examples provided to illustrate best practices.
2. Storytelling Content: The workshop delved into the art of storytelling, which is essential for engaging the audience and making the pitch memorable. Mr. Mursalin explained how to craft a compelling narrative that includes:
- An engaging introduction
- Team building strength
- The unique solution provided by the business
- Product demand and market analysis
- Go-To-Market Strategy
- Business model considerations
3. Practical Examples: Participants were shown practical examples of successful pitch decks to help them understand the structure and content better. Mr. Mursalin provided detailed explanations on each example, highlighting what made them effective and how the attendees could apply similar techniques to their own presentations.
4. Q&A Session: The workshop included a long, interactive Q&A session where participants had the opportunity to ask specific questions about their pitch decks. Topics covered included how to answer investors’ questions, the right gesture, posture, and attitude required during the pitch, and strategies for making a strong impression. This session allowed for personalized guidance and helped address the unique concerns of each entrepreneur.
The workshop saw active participation from the attendees, who appreciated the practical advice and personalized feedback provided by Mr. Mursalin. The insights gained from this session are expected to significantly enhance the participants’ ability to create effective pitch decks, ultimately aiding in securing investment and advancing their business ventures.
Participant Feedback: The participants expressed their gratitude for the comprehensive and insightful workshop. They highlighted the value of learning from an experienced professional and the opportunity to engage in interactive discussions. The feedback was overwhelmingly positive, with many noting that the skills and knowledge gained would be instrumental in their entrepreneurial journeys.
The Women Entrepreneurs Business Support Center continues to empower women by offering valuable resources and insights through such interactive workshops. The center remains committed to supporting the growth and success of women-led SMEs by providing tailored support and expert guidance.
by BreakBite Editorial Wing | Feb 27, 2024 | WSME Business Insights
The Women Entrepreneurs Business Support Center, a key initiative under the We-Fi project of the World Bank and organized by BreakBite, successfully conducted an informative mentorship session on Business Finance and Loan Processing on February 27, 2024. The session featured esteemed specialists Mr. Monir Hossain, Senior Vice President and Mirpur Road Branch Head at UCB PLC, and Mr. Asif Ahnaf, Finance Secretary at e-CAB. The event saw the active participation of 37 women entrepreneurs eager to enhance their understanding of business finance and loan processing.
The webinar focused on a range of critical topics, including UCB’s alternative investment subsidy scheme, freelancing financial issues, spouse guarantor issues in pursuing loans from banks, export logistics, Islamic finance schemes, and e-CAB membership. The session provided a platform for participants to raise their questions and gain expert advice on various financial matters.
Key Discussion Points and Participant Queries:
- Nusrat:
- Queries: e-CAB membership, Mukti Fund – BB Women Financing Initiative, loan process, TAX submission issue, LTD, business canvas, spouse guarantor issues with Bangladesh Bank (BRPD)
- Hasina Khanom:
- Queries: Work order finance, freelancing-based finance issues, spouse guarantor issues, seeking contact with Mr. Monir Hossain for further guidance
- Najiba Wajiha Mahboob:
- Queries: e-CAB membership, freelancing-based finance issues, seeking further advice from Mr. Monir Hossain
- Mohsena Munna
- Queries: Islamic finance, profit-sharing models, equity-sharing models, financial and regulatory compliance documents
- Nasrin Akter Mila
- Queries: Export logistics, jute fiber business, 50% TT, Monash University research
- Farida Easmin NARI
- Queries: Export logistics, factory development
- Nazma Rahman Rozy
- Explored strategies for securing business loans and managing financial risks
Participant Feedback: Participants expressed their gratitude for the comprehensive and insightful session. They appreciated the opportunity to engage directly with experienced financial specialists and receive tailored advice for their unique business challenges. The session was highly productive, offering practical solutions and empowering women entrepreneurs with the knowledge to navigate financial complexities effectively.
The Women Entrepreneurs Business Support Center continues to empower women by providing essential resources and insights through such interactive sessions. The center remains committed to supporting the growth and success of women-led SMEs by providing tailored support and expert guidance.
by BreakBite Editorial Wing | Feb 20, 2024 | WSME Business Insights
Empowering Women Entrepreneurs: Successful Mentorship Session on Digital Marketing by WSME Business Support Center
Date: February 20, 2024
Specialists:
- Mr. Moshiur Rahman, CEO, Wow Digital
- Mr. Shah Poran, CEO, Overlay Asia
Participants: 17
The Women Entrepreneurs Business Support Center, a key initiative under the We-Fi project of the World Bank and organized by BreakBite, successfully conducted an insightful mentorship session on Digital Marketing Q&A on February 20, 2024. The session featured esteemed specialists Mr. Moshiur Rahman, CEO of Wow Digital, and Mr. Shah Poran, CEO of Overlay Asia. The event saw active participation from 17 women entrepreneurs eager to enhance their digital marketing strategies.
The webinar focused on several critical aspects of digital marketing, including Facebook page boosting issues, marketplace sustainability strategies, and website design. The session provided a platform for participants to raise their questions and gain expert advice on various digital marketing challenges.
Key Discussion Points and Participant Queries:
- Najiba Wajiha Mahboob:
- Business: Tourism
- Query: How can I generate more customers for my tourism business?
- Discussion: Strategies for enhancing online visibility and attracting more customers through targeted digital marketing campaigns.
- Nazma Rahman:
- Query: Facebook boosting and traffic issues.
- Discussion: Effective techniques for boosting Facebook posts and increasing traffic to social media pages.
- Nusrat Khan:
- Query: Sales strategy.
- Discussion: Developing and implementing effective sales strategies to drive business growth.
- Farhana Munmun:
- Query: General digital marketing strategies.
- Discussion: Broad insights into digital marketing practices and tools.
- Hosne Ara Khan Ruma:
- Query: Website design.
- Discussion: Best practices for creating user-friendly and engaging websites that convert visitors into customers.
- Momtaz Begum:
- Query: Digital marketing techniques.
- Discussion: Strategies for leveraging digital marketing to enhance business performance.
- Saira:
- Query: Digital marketing tools.
- Discussion: Overview of essential digital marketing tools and their applications.
- Santonu Nokrek:
- Query: Marketplace sustainability strategy.
- Discussion: Sustainable practices for maintaining and growing an online marketplace.
- Shara Binte Hamid:
- Query: Facebook page boosting issues.
- Discussion: Solutions for optimizing Facebook ads and improving engagement rates.
- Sharlina Alam:
- Query: Digital marketing strategies.
- Discussion: Tailored advice on enhancing digital marketing efforts.
- Rubina:
- Query: BSTI-related issues.
- Discussion: Addressing specific regulatory concerns impacting digital marketing.
- Papia Sultana Poly:
- Query: Digital marketing strategies.
- Discussion: Personalized guidance on improving digital marketing tactics.
- Papia Sultan:
- Query: Effective use of digital marketing tools.
- Discussion: Practical advice on selecting and using digital marketing tools efficiently.
- Dilruba Husna:
- Query: Facebook page boosting issues.
- Discussion: Insights into improving Facebook ad performance.
- Tania Shopno:
- Query: Digital marketing optimization.
- Discussion: Techniques for optimizing digital marketing strategies for better results.
- Jinia Afrin:
- Query: Website design and digital marketing.
- Discussion: Creating a cohesive digital presence through effective website design and marketing strategies.
- Waresa Khanam:
- Query: Digital marketing strategies.
- Discussion: Comprehensive advice on leveraging digital marketing for business growth.
Participant Feedback: Participants expressed their appreciation for the comprehensive and practical advice provided by Mr. Moshiur Rahman and Mr. Shah Poran. They valued the opportunity to engage directly with experienced digital marketing specialists and receive tailored guidance on their unique business challenges. The session was highly productive, offering practical solutions and empowering women entrepreneurs with the knowledge to navigate digital marketing complexities effectively.
The Women Entrepreneurs Business Support Center continues to empower women by providing essential resources and insights through such interactive sessions. The center remains committed to supporting the growth and success of women-led SMEs by providing tailored support and expert guidance.
by BreakBite Editorial Wing | Feb 14, 2024 | WSME Business Insights
The Women Entrepreneurs Business Support Center, a key initiative under the We-Fi project of the World Bank and organized by BreakBite in collaboration with North South University, successfully conducted a comprehensive workshop on Holistic Marketing on February 14, 2024. The workshop, led by Mr. Omar Nasif Abdullah, faculty from the Management and International Business Department at North South University, and Mr. Shah Paran, CEO of Overlay Asia, attracted 40 active participants from a confirmed list of 67.
Workshop Overview:
The workshop was conducted in two phases, each focusing on crucial aspects of marketing and digital marketing to empower women entrepreneurs with the knowledge and tools needed for business growth.
Phase 1: Holistic Marketing
In the first one and a half hours, Mr. Omar Nasif Abdullah provided an in-depth understanding of holistic marketing. He covered fundamental branches of marketing, emphasizing the importance of segmentation, targeting, and brand development. Mr. Abdullah’s session highlighted:
- Marketing Fundamentals: An overview of the basic principles of marketing and their application in real-world scenarios.
- Segmentation and Targeting: Techniques for identifying and reaching target customer segments effectively.
- Brand Development: Strategies for creating and maintaining a strong brand presence in the market.
Phase 2: Digital Marketing
The second phase, led by Mr. Shah Paran, focused on digital marketing trends, tricks, and tips to enhance brand visibility, customer engagement, and overall business growth. Key topics included:
- Facebook Marketing: Detailed exploration of Facebook’s role in attracting and retaining customers, especially during peak seasons.
- Inbox Automation Strategies: Importance of streamlining communication processes to improve efficiency and customer satisfaction through automated responses.
- Basic Boosting Process: Insights into creating impactful Facebook ads and dissecting competitor advertisements to gain a competitive edge.
- Customer Engagement: Building a loyal customer base through effective digital marketing strategies.
Engaging Q&A Session:
The workshop concluded with an engaging Q&A session, reflecting the participants’ eagerness to understand marketing specifics related to their businesses. Both trainers addressed queries on various topics, including:
- Acquiring customers during peak seasons
- Building a loyal Facebook customer base
- Leveraging digital marketing for business success
The dynamic exchange of knowledge showcased the commitment of the WeFi Center and Overlay Asia to empower women entrepreneurs, equipping them with practical strategies in a collaborative setting.
Participant Feedback:
Participants expressed their gratitude for the comprehensive and practical advice provided by the trainers. They appreciated the opportunity to engage directly with experienced marketing professionals and receive tailored guidance on their unique business challenges. The workshop was highly productive, offering practical solutions and empowering women entrepreneurs with the knowledge to navigate marketing complexities effectively.
The Women Entrepreneurs Business Support Center continues to empower women by providing essential resources and insights through such interactive workshops. The center remains committed to supporting the growth and success of women-led SMEs by providing tailored support and expert guidance.
