Excerpts from the interview: What has been the key to your business’s success?
Aesthetics and product selection are our biggest differentiators. We handpick highly sought after products from the best brands in the world. Our aim is to create a premium shopping experience that is inclusive of a personal stylist, premium packaging, gift personalization (for men and women) and concierge services. The fact that we provide all the above as an integrated service is what makes us unique in this space.
What are the major challenges in your line of business and how do you overcome them?
Our challenges are no different than those faced by any other e-commerce company that is starting up. India in general- whether it’s the government or others, is not very start-up friendly. So an entrepreneur must toil hard for the basics, from setting up the infrastructure to complying with hundreds of government norms.
In addition, finding the right talent is a big challenge. It’s a bit surprising that in our country there is a great number of people, but not enough quality.
What strategy do you follow for Customer Satisfaction & Expansion? The best e-commerce websites have an innate ability to quickly define customer expectations then exceed them by delivering excellent experiences. We are focusing on doing the same by providing more efficient and timely advice, the fulfillment of orders and problem resolution. Our immediate expansion plan is to increase product categories and depth. We also hope to introduce new brands and launch a woman-centric portal, a partner site to Elitify.
What, according to you, are the top 3 skills needed to be a successful entrepreneur?
Passion – the most important trait for the successful entrepreneur. You have to genuinely love your work. So you put in those extra hours to succeed because there is a joy your business gives that transcends money. Any successful entrepreneur will constantly read and research on how to make their business better.
Self-Starter – Entrepreneurs know that if something needs to be done, they should start it themselves. They set the parameters and make sure that the project or others follow that path. They are proactive.
Strong People Skills – The entrepreneur has strong communication skills to sell the product and motivate employees. Successful entrepreneurs know how to motivate their employees so that the business grows. They are very good at highlighting the benefits of any situation and molding others to help them achieve success.
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