Indore: With ups and downs because of sudden notebandi and other environment factors, start-ups in the city have had an interesting year. Some start-ups have been able to achieve success by capitalising on last minute disposal of cash, while others felt cash crunch, which crumbled their plans.
Reviewing their progress and sharing some entrepreneurial lessons, The Free Press Journal brings ‘Entrepreneur lessons and business review’ for the year. Following is the story of entrepreneur Kavita Singh, who has not only built a start-up in the city, but also provided a base for other start-ups to flourish. She shares her journey with The Free Press Journal.
What is the start-up about?
Kaffeinated Konversations is creating a culture of social space by engaging readers, writers and artists through various meets and projects. Seeing the need for readers for more books, we came up with KK Book Box, which I (Kavita) customise and review.
Effect of NOTE BAN
We introduced KK Book Box on November 1, 2016. But we faced currency ban. Though the response was good, the demonetisation let to frantic efforts to buy book boxes in COD. Here, we felt the need to emphasise to our prospective customers to engage in cashless transaction and use cash for some other necessary transactions like food, grocery or payment to community helpers.
Looking at positive side
Now, people are slowly adjusting to the decision and they engage themselves in online transactions. This is a good thing for Kaffeinated Konversations. We believe that cashless market is a boon for us since people will move on to online payment methods. The book box concept will take time to get the readers open up to, so we aren’t worried.
The response is encouraging and we strive to give our reader customers the best despite the current scenario.
When things go wrong…
Earlier, I was cofounder of Rising Litera. I exited and started Kaffeinated Konversations on April 10, 2016. Within a short span of 8 months, we have the support of large number of people from India, South Asian countries as well as Africa. I have struggled as a start-up in the ways that most start-ups do.
I have struggled to get a great team in place, made people believe in what my goals are, bootstrapped (still bootstrapping happily) my way to reach out to people and building connections through constant support and services.
Picking up pieces and finding success
With demonetisation, opportunities for e-commerce based start-ups are enormous.
This belief propels us to realise the value of digitisation much further and we believe that the start-ups though struggling have a great future. However, this great future will depend on the Uniqueness of the idea, the passion to follow up and great customer retention. If these three things are followed by any start-up – the future is always bright.
Our team consists of all Kaffeinated Konversations members. For each event, they pitch in their time and efforts on the basis of their skills. For this we have founder Kavita Singh, Manish Dhane, Shreshtha Rathore, Abdul Saifuddin, Yash Kathed, Avisha Awasthi, Sumit Yadav and Deepak Sharma among others.