Sabur Khan told the story of building Daffodil Group from scratch

Youngsters often suffer from lack of proper guidance at the beginning of their careers. As a result, many times they cannot do well in their career despite having enough talent, interest and skills. A podcast show: Legacy with MRH organized jointly by Prothom Alo.com and Prime Bank to provide proper guidance and inspiration to the youth. Professor Mohammad Ridwanul Haque of Dhaka University's Institute of Business Administration participated as a guest in the first episode. Md. Sabur Khan The topic of discussion was 'Building a poverty-free, self-reliant generation'.

"Honesty, confidence, network and commitment are the biggest capital of an entrepreneur." said Dr. Md. Sabur Khan The taped episode aired on Saturday at 9:30 PM, on Prothom Alo's digital platforms.

Since I started the business when I was only 24 years old, I had a lot of time ahead of me. I thought, if I fail here, I will get a job or leave the country.

Md. Sabur Khan

At the beginning of the program, the presenter wants to know, why did he come to the IT business as a student of statistics? He could have turned to government jobs if he wanted, what exactly made him think of business?

In the answer Sabur Khan said, 'I studied statistics because at that time there was no separate department called computer science. However, computer science was included in the statistics department in Jahangirnagar University. And I was doing very well there. I would trade with that, I was pretty firm about it. I got into the IT business mainly because of my interest in technology.'

Sabur Khan also said, 'Since I started the business at the age of 24, I had a lot of time ahead of me. I thought, if I fail here, I will get a job or leave the country. I think everyone should have a different plan as well as a career plan. If you fail in one, you can easily move to the other.

Incidentally the presenter wants to know, how did you get the courage to start a business at such a young age without any capital?

In reply, Sabur Khan said, 'I started business in the nineties. Capital was the most important factor in business at that time. But I have always felt that capital is not a big deal. The most important thing here is integrity, focus, business strategy and network. When I started the business I did not have enough capital; But networking was good. This is what basically gave me courage.

Regarding how he turned around in the most difficult time of his life, Sabur Khan said, 'In 1992, I lost all my money and became completely destitute. But just then I began to feel that I had not lost everything. Apart from money I have gained fame and my networking is good. I got through my toughest times by using it.'

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Sabur Khan said that even though he lost all his money in 1992, he did not lose his morale. To start the business afresh, he brought goods worth Tk 21 lakh on credit from a businessman named Hunter in Singapore, which was almost double his capital at that time. Hunter trusts his integrity and gives this credit without any documents or guarantees. Later, Sabur Khan not only returned the money, but also sheltered Hunter when he became bankrupt and made him his business partner.

Regarding business partnership. Sabur Khan said, 'It is very difficult to set up a big business alone these days. It is very important to work as a team at this time.

But when it comes to partnerships, he says to prioritize legal agreements and specific terms over emotions. From an experience in his own life. Sabur Khan said, "I had to go through a difficult situation after making an employee a trusted partner in Metro Net Company as there was no written agreement."

Which aspect of students he likes the most? If you want to know. Md. Sabur Khan said, 'I really like those whose goals are very clear and focused on their destination. For example one of my students was determined towards IT business from the beginning. Through hard work, he is currently one of the top taxpayer entrepreneurs in Bangladesh.

'I have always explained everything about my business transparently to my children, even showing them the tax files. As a result, my children got interested in my business and willingly joined it.'

Md. Sabur Khan

How do you see your team? In response to such questions. Sabur Khan said, 'I consider my team a part of the family. But I want my team members not to blindly follow me; Rather, dissent, challenge me. Because only constructive criticism can move an organization forward.
The presenter then wants to know, why the children of the second generation often do not want to come to the family business?

Md. According to Sabur Khan, the main reason for this is lack of transparency. Many parents keep the insider details of their business from their children. As a result they cannot know the actual condition of the business. This reduces their confidence.

In this context, Sabur Khan said, "I have always explained everything about my business transparently to my children, and even showed them the tax file. As a result, my children got interested in my business and willingly joined it.'
At the end of the discussion. Sabur Khan identifies technology and service industries as the most promising sectors for young entrepreneurs.

Md. According to Sabur Khan, risk is lower in the service industry than in commodity-based businesses such as agriculture. Because, there is no role of middlemen and both buyer and seller benefit directly. He pointed to companies like Uber, Pathao, Booking.com and Amazon and said that service industries are now successful globally. Most of the employment in Bangladesh is currently coming from this sector.