Baptised by Crisis: Indian Entrepreneur 2020

As the year 2020 has changed our lives and have transformed our world into a virtual one. The Covid-19 pandemic has changed the economy and hence, the entrepreneurs had to find a new way to do their business. The 40 Under 40 achievers organised by the Business World, is to encourage these young entrepreneurs who have faced the challenge and have come out of it as even stronger brands and companies.

In a panel discussion on the topic “Baptised by Crisis”, young entrepreneurs from different sectors joined the panel discussion and shared how they overcame the crisis. There was Sahil Malik, the managing director of Da Milano Leather, Aanan Khurma the founder of Wellversed Health, Rachit Chawla the founder and CEO of Finway FSC and Director, technology and finance, Risers Accelerator, Sakshi Tulsian the co founder of Posist and Mohit Sadani the founder of Moms Co.

The panel shared their experience as to what measures they took to survive and bounce back to the new kind of world, and especially they shared their learning’s which they have realised or even learned over the last eight to nine months. Sahil Malik, the managing director of Da Milano Leather said that at the end if a product is good and of great quality, and the service which you have provided over the past few years have helped you gain customers who are loyal to you then you can definitely bounce back in the market. Sakshi Tulsian the co founder of Posist said that when there is a crisis you will have to hibernate and then come back as even stronger, and everyone including our moderator Dr. Anurag Batra, the chief editor of Business World said that this is the time to build relationships and to strengthen the existing ones, only then can you come out of this crisis stronger.

Aanan Khurma the founder of Wellversed Health said the “you have to think about everything and not only your product”. One has to think about their team about their relationship with their clients and only then can you find people by your side during these times. He also said that one of the major things which almost every company, especially a start-up had to do was to communicate and strengthen your relationship with your team, and over the period of time these senses is kind of induced into everyone over the period of time.

We all agree that the last eight to nine months have been absolutely uncertain but there is always a positive lining to every situation. Hence, there are certain positive aspects which have again happened due to the pandemic, and we all know that change is inevitable and hence, a lot have changed over the past few months and as stated by Dr. Anurag Batra we should keep looking at the positive side of every event and should never say never to anything, there is always a way we can improve and with the new world and new kind of market the economy has also changed and we should look out for opportunities to collaborate more and to show more compassion.

Therefore, when asked what are some of the lessons you have learned in the last eight months Rachit Chawla the founder and CEO of Finway FSC said that one thing which he has learned is “to keep thing simple”. He said that over the period of time when a business grows then things become very complex, hence, the key is always to keep thing simple which is easily understandable to the customer as well as the employee. He also said that his company has started designing a product in a way that can cater the needs of the entire world, and not only India. “There is so much potential and by utilizing the technology we have in hand we can make a product for global use”, he added.

Sakshi said that she learned that “the customer is your best friend and if you are there for your customer in the hour of need then they will also be by your side, and also we should never include short term plan or take decision which are short term. We should always think about the future. “ Another learning pointed by Sakshi was that invest in your team, she said “this is the time you will get back everything which you have invested in your team over the past few years, and we have to be patient and believe in ourselves and our customers”.

One of the learning’s from Aanan was that communication is the key, and he shared that he has communicated with everyone person in his company over the last eight months and it not only have strength his relationship with his team but has also helped him learn a lot.

Hence, in the coming year everyone expects to grow their businesses, be it in terms of increasing the number of subscribers, or by opening offline stores or by expanding to another country. Everyone has a target in their mind and aspiration to achieve and do much better than what they are doing right now, and while doing so we should keep in mind the three Ps Planet, Purpose and People. As said by Dr. Batra, we all as entrepreneurs should keep in mind why we came into the market in the first place, and remember to make an impact, solve the problems and keep in mind people, purpose and the planet.