An excerpt of the interview:
What made you start your venture? After completing my Engineering from VJTI, I was looking forward to starting my own venture in the education industry. Through interactions with different creative minds in this industry and an extensive research of one year, we launched Bright Wayz with 3 modules to help young minds nurture their personality as per the industry standards. These unique modules were created to enable young professionals to transition easily from college to the corporate world.
What has been the key to your business’s success? Two main reasons for our success are:
A well experienced and creative team:
Our mentor team has several years of professional work experience and has studied in some of the best B-Schools and top engineering colleges. We always try to bring certain innovations into the existing courses so we can upgrade the current aptitude level of our students. Recently we have started a news service for our students through which they can receive current affairs and news through Facebook, SMS or Whatsapp.
Our target market is made up of students from Engineering, Graduation and MBA stream. These students may be highly motivated towards success but are bogged down by the lack of skills needed by the working world. We train our students in these skills, make them industry ready and provide these services at an affordable cost.
What are the major challenges in your line of business and how did/do you overcome them?
There are many challenges which we overcome with expertise and experience. The first one is to maintain defined cash flow to manage regular expenses. We were able to overcome this by keeping strict payment policy and by maintaining consistent relations with our stakeholders and investors. Secondly, we needed to keep a consistent visibility in the market. To do this, we used effective social media marketing and referral schemes. Furthermore, we also arranged seminars and workshops to market ourselves.
Do you have a mentor who guides/advices you on matters of the business?
Yes, we do consult many mentors on a regular basis for improving upon our regular operations. Few of them who all are always mentoring and guiding Brightwayz Team are:
• Mr.S.M.Gaonkar, Head TPO VJTI • Mr. Amit Sharma • Mr. Jay Acharya • Mr. Vaibhav Tadas • Mr. Naveen Alle • Mr. Pankaj Murudkar
Have you benefited from the use of any specific technology for your regular operations?
Social media has helped us greatly in promoting our various modules and to create a soft buzz in the market. This entire exercise helped us maintain strong relationship with our students within the allocated budget. Furthermore, it also helped us solve queries of our customers on a regular basis.
What strategy do you follow for Customer Satisfaction & Expansion?
We go beyond satisfaction and work consistently for customer delight. We do this by constant innovations and customer-specific customization to keep our customers happy. At Bright Wayz, we keep our focus on practical exposure rather than existing terminologies and theories. We have been implementing this approach with our existing batch of 200 students along with acting as a knowledge partner for more than 5 Management Colleges.
What, according to you, are the top 3 skills needed to be a successful entrepreneur?
According to me, the following three skills are needed to be a successful entrepreneur:
• Extensive Market Knowledge: An entrepreneur needs to be flexible and should have a fast approach to adapt business strategies as per the market trends.
• Creative Approach: An entrepreneur needs to be able to fulfil the needs of his/her clients effectively and creatively. Entrepreneurs are going to face tremendous competition because of the existing technologies and hence he or she needs to be creative with their approach to break free from the clutter.
• Risk Taking ability: An Entrepreneur should have the ability to take calculated risk to bring about drastic changes into the existing mechanism Find out more: http://brightwayz.com Visit Bright Wayz on Facebook: : Bright Wayz