StartUp means- you tried, failed, tired, gained and win. But this fire round doesn’t get over during your entrepreneurship days. It comes and hits you like a hard shot of life. Here is my story to inaugurate my very own startup company with my better half.
I remember the days back in 2007 when I was in college and got the first exposure to build a dummy stock market website for college fest which ran for 7 days. Those were the days when I got keen interest in startup conferences, events, and lectureship. In 2008, Infosys offered me to join them but I always wanted to start a self-venture, not the service industry. The main focus was on Product Internet Company and ibibo was providing the same platform. In 2009, I joined Ibibo as a senior software engineer in the mobile department to build social games and in part time, I build a website on Twitter service to check the score and get updated commentaries.
In between the period, I got a chance to work with letsbuy.in which is a part of Flipkart now. There I met with Arti Sharma who brought this idea to me. Carrying the same idea in mind, we researched a lot and did a lot of field job as well; finding if the retailer is better than online marketing and business. We left our job and did a core study before starting it in full fledge. In 2012, we took courage to start our very own venture – Arnit Retail Pvt. Ltd, which is the parent company of IndiaRush. At that time, ROI was the main focus instead of profit because we wanted it to be more impactful rather than a high margin based luxe company. With the power of ‘courage of ignorance’, we started with home decor, electronics, and fashion but then realized that the volume of the products was less due to disposable income; it repeats less and the demand is really low. Then we moved to fashion apparels, watches, jewelry, accessories of women and since then we are one of the leading online brands which showcase maximum ethnic wears for women. People are less brand conscious in the Indian ethnic fashion brands and varieties. So, it gave us a tough competition but the quality and deserving price tags have gained us a huge liking among the mass.
We haven’t stopped here and stretched our capabilities in finding the best way to engage mass people with us. And FaceBook came as our biggest inspiration. We started our very own social platform – LookBook, where people can share their pictures, tag their friends, comment and like on the same. The main aim behind this is to provide a connection between all fashion enthusiasts.
How Bootstrapping Worked For Us?
‘Fashion loving people believe in them who believe in the knowledge they impart’. In 2016, Oct, we launched India’s very first monthly digital magazine – EDITS which presents a composition of the most trending gossips of the month, fashion blogs that impact most essential fashion tips and facts, bestselling products that one can buy directly through our website and a lot more.
Started with a team of 5 and now we have 100+ members on board, helping us to manage to bootstrap strategy a success in the market. And have we managed it? Here are some quick points to share:
- Build in-house intelligence team (including marketing, MIS, Logistics, IT, customer care)
- We are free enough to implement our own thoughts and thus implementing experiments is not a big and many times has earned success as well.
- ROI Driven strategy
- Be flexible – change the company focus on audiences’ demand
- Keep costs small- invest where it is necessary and cut it from where you think the matter can be delayed
We are changing, keep on moving and molding in the best way to provide quality service to our audience.