Entrepreneur's Success Story

Mr. M. Toseef is the current director of Venture Tools and from day one till up to now he has been performing the core duties of the business and ever since serving the business as production in charge. Mr. M. Tofique is a MBA in Marketing from U.K and currently Chief executive of Venture Tools and his duties entails sales, marketing, customer relationship management and also handling of the all financial aspects and statements of the company.

Company's Profile:
Venture Tools, as part of brief introduction they basically are manufacturing (Outsourced and Sub Contracted) and exporting jewelers tools, watch makers tools, optical instruments and some part of dental instruments. Then 1999 Venture Tools registered and partially started the marking by writing letter to different firms. The company has worked with Pakistan Gem and Jewelry sector. This company is Govt. based and promoting people in this trade. Govt. of Pakistan brings on its self on behalf of Sialkot Exporting Processing Zone (EPZ), providing necessary facilities to the company in the form taxation duties relaxation, shipment accessibility through Airplane Cargo/Freight and German instructors/trainers for coaching and grooming the prospective companies and firms in this industry. When he require tools officials says buy from Germany he introduced and said there is one company in Pakistan who supplying tools in Germany and meet that guy in Germany many times. So the contact us and we supplied them tools. Pakistan Gems and jewelry exhibited in Thailand and we exhibited there twice successfully and one in Dubai. We both have been traveling for regularly for attending exhibitions all around the globe and also meeting with different customers.

Efforts behind success of Venture Tools:

The business was informally and legally started in 1994, when Mr. M. Toseef went to Sialkot for training and gaining experience with his uncle for these specific kinds of tools. Before they started one of their uncles was already doing the same business and he asked Mr. M. Toseef to come to

Sialkot and work with him to groom up the business and explore better opportunities for their business generating value for the business and customers, both. Both of them tacked up together to engrave the foundation stone for their new upcoming business. They started the business officially in Sialkot with name of Venture Tools, also known as Edge Master and learned all the technical aspect of tool manufacturing. He was learning under the roof of M/S Cutlers and Hammers, in 1999 his uncle told and helped him to register their own company, so that they can officially and legally commence their business. This was the year 1999 in which the named the business Venture Tools, also known as Edge Master and took for their first official and independent operations as a company. In 1996 Mr. Tofique (Brother of Mr. M Toseef) went to U.K for studying MBA, while studying he was also doing part time marketing job within a firm, however by the end of 1998, he saw his future bright and sparkling and the job didnt also engendered success and sufficient bread and butter for him too. In 1999 Mr. Tofique went to Basel Switzerland to visit the largest exhibition of latest watches and jewelry, which is usually held every year in March- April. It was first his first experience and even he wasnt expecting to achieve hefty numbers of manufacturing and sales orders from clients and customers, which was very astonishing for him, as he wasnt expecting that much success in first exposition and interaction with clients. But by the end of 1999, the business had two customers under contract and permanently, but with the passage of time due to increase in operations, expenses and expansion of business, only two clients for the business for not were not sufficient enough to run the business profitably and generate positive cash flows. So in order to expand the customer base and for fulfilling the capital requirements of the business operations, they need some strong and efficient wholesalers but unfortunately again it was only a dream for them. Returning back to office, after the official and usual business visit to relevant exhibitions in Europe in search of new customers/ clients, when entering the office they had received a fax from one of the wholesaler from Germany, requesting samples of their products. They immediately responded to them and after acquiring details of the samples required by them from Pakistan and again in July 1999 Mr. Tofique went to Germany from U.K for formal meeting with customer and finally got an order. Later on, in 2000 during another visit to a exhibition being conducted in Europe, one of their previous customer/client introduced them to another party/customer from Brazil and afterwards to another party from Tunisia and moving on with passage of time through these referrals, recommendations and strong ties with customers, helped them out to pave their way, engendering in expansion of their customer base.

 In 2000, the business was almost at its peak, as they had crossed their break-even point and the business was generating two times more profit than the break-even point set by the owners. In 2001, Mr. Tofique, returned back and started to work with brother Toseef. After going through different phases, finally in 2008 they were able setup a new factory and now currently the operations are being performed in this new facility.

Traits of successful entrepreneurs of Venture Tools:

Knowledge They have proper Training and experience in relative industry. All the business knowledge was gained first before starting such a huge business plan. It is a big key to success for any entrepreneur if they have relative experience and qualification before jumping into execution of their dream business. Innovation Innovation is another big trait in any entrepreneur which leads to a major market success. For this purpose, Venture Tool's real brains always participate along with their employees to increase the variety of products by executing unique ideas. If a worker makes a new design they encourage him to make some more samples of the new design, then they send/take it to their customers and after their approval they start manufacturing it as per the order Integrity & Reliability For all the manufacturing businesses the real deal is to manufacture products in proper quantities and deliver on time. Order fulfillment on time leads to client satisfaction and assures the customer retention. Venture Tools claims to deliver on time always, in fact sometimes they dispatch their orders before due date. Forecasting Business forecasting is a task which proves the true business analyst and entrepreneur. Mr. Toseef and Mr. Tofique, both have the intellect to cover all the aspects of their relative industry's ups & downs. They plan very carefully. They always try to pick every opportunity which shows up and try to win before any other competitor catches their clients. Opportunity seeker

Every business needs expansion in order to earn more. That is why Venture Tools' heads have their eyes on this plan. For increasing their business market now they are thinking to capture the market of eastern European countries like Turkey, Greece, Hungry and Poland. So they are Opportunists in literal meanings. The talent of catching the customers on time by using his marketing skills is present in Mr. Tofique's personality. Strength and Beliefs Every business faces lots of ups & downs. It is a vital part of every business's life that it goes through really hard times at any point of its overall existence, either at time of formation or at time of maturity, sometimes competition kills the opportunities and mostly company's financial position doesnt let it work the way it should. All these things can be overcome with a lot of strength and fighting spirit that doesnt let you fall in hard times. Trusts in one's decisions which are based on proper research are necessary. Venture Tools' genius owners had this patience and strength. Today they are running a well established company. Trust Trust in your dreams and company's vision should never lose its vitality. Every decision is made for fulfillment of that dream, and Mr. Toseef clearly sticks to his dream throughout his company's formation till its current success.

Conclusion:
Entrepreneurs are people who follow their dreams. They have such strong longing for their dream and that is the reason behind every business success. The traits of the business owner lead other employees of the company to play their part with passion and enthusiasm too. When a person decides to pursue his/her dreams then it is very important that he/she has got all the brains to plan properly and then execute these plans with help of strong strategies. Above mentioned traits which were present in Mr. Toseef and his brother Mr. Tofique lead Venture Tools in a right direction and that is the reason behind current success of this company. Hard work is the only key to success and we can learn it once again by looking at Venture Tools' owners story.