Entrepreneur: Avatar Tripathi
Business Name: Social Bazaar
Welcome to Entrepreneurs of India #startupstories episode 108
Avatar Tripathi comes from a typical Indian family, where anything beyond engineering or medicine seemed risky. But he was fascinated by entrepreneurship and he thought of dipping his feet into the aggressively competitive world of startups.
He founded Social Bazaar to help local shops scale up their business. Based in Madhya Pradesh, Social Bazaar is an initiative for the shopkeepers and local vendors to get their shop online. Moreover, it provides digital marketing services to promote their brands and products.
How does an ecommerce platform in a local market work? What are the hurdles? Avatar speaks in length about his startup and shares his entrepreneurial journey.
1) How did you get your idea for this business?
Well, I was not good at my academics and in 11th standard I used to be fascinated by startup world & entrepreneurs.
Entrepreneurship is all about the problem you solve and so I researched the local market for a month and found this idea of presenting city shops online and branding out their shops which will not only increase their customers but also the way of business they doing since decades.And now we provide complete marketing and branding solutions for them.
2) Why is “now” a good time for this idea to exist?
According to me, there is no good time for an idea to exist, but you have to make your idea good to exist!
E-commerce sites have done a huge impact on the customer ratio of local shopkeepers as of now everyone is preferring e-commerce sites for products rather than going to their own city and for that we’re providing local vendors a platform to rise.
3) What was the reaction from your family when you first decided to become an entrepreneur?
I come from a family where everyone wants to become doctors & engineers. At first, I didn’t tell anyone in my family about this. But when I was awarded “35under35 Digital Star- Best Digital Marketer in M.P” everyone in my family was like “So, this is your backyard project you’re working on”
And when I finally spoke to them about my venture, my father said to carry on and told me to raise the investment from my personal savings.
4) What was your biggest mistake in business and what did you learn from it?
I do make mistakes a lot. But it’s all about learning from your mistakes and being on the field. And yes my biggest mistake was that I started late, I keep on researching and thinking about the sources rather than taking an initiative to start from 11th standard.
Execution is the king. Everyone gets ideas but the difference is only few of them execute it. “It’s easy to dream, but much harder to execute it.” Gary Vaynerchuk.
5) What is your biggest obstacle in the next 12 months and how will you overcome it?
Obstacles come and go. After all, it’s life. Currently we’ve a big task to expand social bazaar more in tier-2 and tier-3 Cities and to build more structured team for expanding it in the bigger market.
6) What habits contribute to your success?
It’s not about the habit but yes being highly and positively motivated for the thing you do will help you achieve anything in life.
Also, I read a lot of novels/self help books which keeps me motivated for the things I do and also helps in many other ways.
7) If you had the opportunity to start this business again what would you do differently?
Somewhere or at some point in life everything falls into place. So, I don’t think I could have changed a lot by starting it differently but like everything takes time, I would have executed it earlier.
8) What is your favourite inspirational quote?
“We only get to play this game one time, one life.”
By Gary Vaynerchuk
It really keeps me motivated.
9) Where do you find inspiration?
I do listen to various podcasts and read various self help books. Inspiration can be found anywhere, like think of yourself in a 5 years gap and if those situations scare you that will be your inspiration.
p.s. if that doesn’t inspires you nothing will work.
10) What is your favorite book?
Well, it will be little bit confusing for me as I’ve a number of favorite books. Think And Grow Rich by Napoleon Hill & Zero To One By Peter Thiel. I think every emerging entrepreneur should read these books.
11) What advice would you give to someone starting out?
I don’t understand myself this worthy, to give advice to someone but will definitely say LEARN, APPLY & SHARE in your life as much as you can.
You’ve only got one life and make the most of it like do everything you like that will help you in future. And yes don’t just think, execute and work on your ideas every single day even if you fail, fail 10 times and stand up right.
Entrepreneurship is all about solving a problem in the market effectively. Avatar put his effort into addressing the problems faced by local vendors in his area. There was a dip their revenue when the major e-tailers kicked in. So he ventured into bringing them online, which resulted in their growth.
Now Avatar has bigger plans for Social Bazaar including a possible expansion to other parts of the state. So, always pay attention to the market to understand the problems. Then only you can come up with an idea to solve it. A big thanks to Avatar for stopping by to tell his story.