Wednesday, August 1, 2018

Year 5 of Entrepreneurship

Very frankly, I am an Entrepreneur by accident. Having been part of India’s Retail revolution with 21 years’ behind me; having worked across various Retail verticals such as Food & Grocery, Malls, Airport Retail, QSR and Automotive Retail; Rated among Top 50 Retail Professionals in India; Young Achiever Awardee and so on, I never endeared to become an Entrepreneur. My entry to Entrepreneurship was more circumstantial than a planned one, which is very unlikely of me. Having spent a large part of my professional career in Business Strategy, I continue to remain methodical in most of my approaches. But this journey was different.


I decided to take a break from my professional career on this day, 1 Aug. 2014 and set foot in to this unknown, uncertain and unapologetic world of Entrepreneurship. With loads of aspirations in my mind, a continued fondness for Retailing and a special focus on the “Baby Care” format, I set-up Smiling Baby, a retail store that sells products needed for new born babies up to 6 years and Maternity products for Pregnant women and new Mothers. I created a catalogue spanning over 3,000 SKUs almost singlehandedly, right from finding suppliers to POS providers, staffing to architects, almost everything. Ran the venture for a year after having invested close to Rs. 1 Crore of personal savings that my wife and I made over a decade. Within no time, the bank account came to mere 4 digits although we didn’t achieve expected sales. Various factors, including failing miserably to expect potential Investors on my name than on the business, massive impact on offline Retail thanks to online companies selling Diapers and more below cost price; and lastly Investors refusing to put their money on a purely offline model swelled with Capex of over Rs. 40 lakhs per store. 


On the first anniversary of the store, the shop was not operational. Call it bad timing, miserable luck or simply underestimating the vagaries of Entrepreneurship. We moved to a smaller location close by but again, the misery continued; Chennai witnessed massive rains and floods in November 2015 and the store had recreated a mini Niagra within. Lost almost all of the stocks, computers, interiors, et al. The Insurance guys didn’t support stating that the “flooding” clause was not covered in the Policy. Bizarre  Continued to operate for a while until we decided to call it a day, once and for all. The business was shut, lock seal and barrel. Everything was lost, but for my persistence and perseverance. Decided to join hands with a fellow-Retailer and co-create a workable model, which again much to my chagrin, failed. All attempts were through and I didn’t have the courage to invest another penny more into this sinking ship. 


Went to the Himalayas and cooled my heels for a few weeks; introspected at Lake Gurudongmar at 18,000 feet, wandered around Lachen for a few days in freezing winter. Came back resurrected and found new ways to survive. While I was already pursuing Retail Consulting on and off, I decided to focus full time on Consulting and started to reach out to clients. Got a few wins, gathered steam and today have more work coming my way than I can actually handle, that I have to decline a few assignments. Life’s Good. Meanwhile, explored and worked on a Franchise model for Smiling Baby and today we already have a few stores up and running and business is picking steam. Hope to raise an Investment soon and scale up Smiling Baby across the 32 Districts of Tamil Nadu, the southern state of India.


My biggest achievement has been my “perseverance” and my “never give up” attitude. That’s one thing I wasn’t wired as a child by my parents and later by many whom I have admired and continue to do so. However, there is as much guilt that shows up often – my parents and wife continue to support me day and night in my adventures and endeavours, which is atrocious sometimes. I have peeled their skin more than they deserve and this haunts me a lot. But for my wife who’s stood rock steady the last four years – I am not an easy guy to; She’s handled our marriage of 12 years, my emotional tantrums and most importantly, the financials of the household. She has taken care of my Late Aunt who had Stage 3 Advanced Cancer in her Uterus & Vagina, my Kids education and their wellbeing and of course my parents – all singlehandedly. She's my Angel, she's my Investor and so she's my Angel Investor! And she continues to put the same smile on her face every morning while waking up and puts more effort than the previous day at workplace till date. 


Entrepreneurship is not easy. It is not for everyone. We don’t just need a strong financial backing and good luck – more than that, we need a supporting family and loved ones. A lot of people will come and encourage us midway, some may even discourage us but what matters is our undying spirit to keep moving on. My journey has just begun, Miles to Go…