Tanveer Shahriar Onik

The Inspiring story behind a successful Entrepreneur

The Inspiring Story Behind a Successful Entrepreneur

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ENTREPRENEURSHIP
Case on an Entrepreneur and a Business Venture

Prepared for:
Professor Dr. A. K. M Saiful Majid
Institute of Business Administration
University of Dhaka

Prepared by:
Saleh Ahmed
ZR 46
Section A
20th Batch

Institute of Business Administration, University of Dhaka

October 20, 2014

The Inspiring Story Behind a Successful Entrepreneur

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Tanveer Shahriar Onik

Tanveer Shahriar Onik, the Managing Director of Live
Three Sixty Creative Agency is one of the most
inspiring young entrepreneurs in Bangladesh. Born in
1990, his story of becoming an entrepreneur is of
hardships, heartbreak and hardwork. He studied in
Engineering University Higher Secondary School and
then was enrolled in North South University in
economics. But his education was not completed as he
was not finding interest in pursuing any degrees. Thus
he left his studies after the first year of study. This did
not go well with his family and eventually resulted in
his departure from his family home. Determined to do something to gain the
respect lost amongst his friends and family, Tanveer Shahriar Onik led himself to be
in the position he is today. He started Live Three Sixty as an event management
firm, and from there the company is now owns two of the most known youth
brands in Bangladesh.

Mr. Onik is the key person who established this business hub by applying his merit,
hard labor and relentless efforts. He has planned to expand his business
furthermore in days to come. He is already working on expanding the brands he
owns and also starting a few more, all focusing on the youth on the nation.

As a youngster himself, his prime focus on any work he does is for the youth.
Starting from the clothing line to the magazines his company owns, Tanveer
Shahriar Oniks prime inspiration is the youth and he has put relentless effort to
find out and provide the demands of this market, unique to this country.

He has traveled many countries, trying to understand how businesses work in

different cultures. He plans to expand his brands beyond the borders of Bangladesh
and hopes to be one day the owner of one of the leading brands in the whole world.
Apart from this, his interests are in football, basketball and cricket. His love for
football and specially futsal is notable as he organized two of the biggest futsal
tournaments the country has ever seen.

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Live Three Sixty Creative Agency

The Live three Sixty Creative Agency, established in 2011, is a company having
diverse and clothing. While the companies involved in these fields have their
individual plans and programs. The holding company tries to co-ordinate,
administering and managing their activities keeping in view modern trend,
innovation and economy.
Every company has their certain goals and mission so, but Live Three Sixty Creative
Agency is committed towards innovation, change and development of youth this
is what is counted as a mission in the company. The prime mission is being unique
in every aspect of the countrys business and to set a pioneer example for other
youths trying to enter the market

Live Three Sixty Event Management

This was the first initiative from the company. The
company started its journey by organizing a huge
event, sponsored by Airtel, to bring the UEFA
champions league cup to the country. The event
followed by bringing a few Manchester united
players to the country and also a countrywide
football
tournament,
all
handled
by
this
organization. The initial success led to the further
expansion of this venture and now has organized
over 50 events successfully and are planning to
expand further more.

360 Lifestyle
After the success of the venture, Mr. Onik wanted to venture
in the most successful market in the country, the RMG
industry. Thus 360 lifestyle was started. It was one of the first
facebook page based clothing business which pioneered the
idea in the country. But after 1 year of business, the demand
for their products was so overwhelming that it needed further
expansion. The established clothing brand Artisan Outfitters Ltd. Invested in their
venture and by another year, 360 lifestyle is now the biggest youth fashion clothing
seller in the country.

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Vibe Magazine
After the success from that industry, the idea was to
venture into the publishing industry as Mr. Onik sensed a
gap in the supply for magazines for the youth. Thus the
idea for Vibe Magazine was born and till date, there have
been 5 issues and is growing rapidly. This magazine has
been the talk of the town since its beginning and has been doing exceptionally well
throughout its target market, the youngsters of the nation. This is a completely free
magazine and plans to be the same as time goes on.

FastLane Magazine
After the mesmerizing response from the young audience
for Vibe magazine, it was clear that the company has struck
gold in the form of an untapped but highly demanding
market. They soon began planning on making a new
magazine, and again they looked for the demand that was
not met. They came up with FastLane Magazine, a complete
car magazine for the likes of the youth and car enthusiasts
all over the country. The first edition is yet to be out, but the hype this magazine
has created already, people are already arguing if this will outdo the success of Vibe
Magazine.

Playlist Magazine
The next step this company is planning to take is to
make a full fletched music magazine for the youth. This
plan is on the working and since this is already a
competitive market, the company bought out an already
established brand Playlist Magazine. The re branding is
on the works and this magazine will also hit the shelves
son.

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The Entrepreneurship
Venture: 360 Lifestyle
360 Lifestye was the second venture from the country and is
yet the most financially successful venture till date. It started
with only one designer and 10 designs in production and a facebook page. The
prime motto behind the designs was always simplicity and excitement and is still
there today. The designs caught the eyes of the youngsters looking for something
different to wear, and now the company has expanded so much that their clothing
can be seen everywhere.

After the expansion in the second year,

Artisan Outfitters have provided the selling
outlets for their products and thus the
company grew from a facebook page based
business to a brick & mortar business. Their
showrooms are now in Uttara, Gulshan &
Banani, and a new showroom will be opened
soon in Dhanmondi. The business has been
the trendsetter in the industry and is one of
the pioneers in youth focused clothing.

Market Competition and Steps to face competition

Although 360 Lifestyle was a pioneer, the company has been facing some stiff
challenge as newer and newer competitors have entered the market. Other
conventional brands like Tanzeem, Westecs and Yellow have expanded and entered
into the market segment 360 Lifestyle has been operating in. But as the
competition grows, the company has been more than resilient to face it. They have
not only expanded their design range but also has started manufacturing polo tshirts and has thus expanded their market and production. They have improved
their quality of the product by changing suppliers recently, and are completely
prepared for the existing competition and any new entrants to the market.

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Future Prospect
In the coming years, competition is likely to intensify with more and more ventures
coming in the market. But the biggest competition is coming from known and
established brands that previously operated in other market segments coming into
this market after seeing the opportunities here. This is a big threat and to tackle
this, the company is already making plans.

With the introduction of 360 Polo Inc., the company has started its long term plan
to face competition and further expand its market in the coming days. Newer
product lines are already under observation for calculating demand and research for
market entry. The company has the financial backup to start any new product line
and will do so after careful research and observation.

Conclusion
One of the most prolific young entrepreneurs of
the country, Mr. Tanveer Shahriar Onik is an
example to look up to, his dedication has taken
the company to the heights it is in today.
Needless to say, he hopes to do even better than
he is today and someday be one of the greatest.
Idolising Mr. Steve Jobs, Mr. Onik believes in
simplicity and value for money. As another
aspiring and internationally recognized Bengali
entrepreneur Mr. Sabirul Islam says about him
This guy is someone every new entrepreneur in
this country should look upto. He challenged the
norms of our society and was dedicated
throughout all the hardships and failures. Look at
him now, he is happier than one can imagine.

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