He Made 8000 CRORES In JUST 6 Months - Unicorn Mensa Brands' Ananth Narayanan | FO 58 - Raj Shamani

only thing that compounds in life in. life apart from money is reputation in a. startup actually overthinking is a. disaster actually in India right if you. actually give somebody I'm sure it. happens in yourself you need to follow. up once you don't need to do this in. China if you can succeed in India you. can succeed anyone we are among the. largest manufacturer of garments for all. of these large fashion houses everywhere. h m Zara everything we make here but. we've never created a brand why the best. marketing is that that you don't pay for. right yeah that's the best one yeah. every once in a while during the podcast.

I get super proud about myself of what. I'm doing because it's the Insight of. what people have shared with me which. I'm bringing to the world it's something. which I really admire about this whole. episode because this episode made me. think about this one thing that. the amount of knowledge and value which. we get in just one hour was insane this. is one of the best episodes I've. recorded because we've recorded with.

ananth Narayan who's the founder of. Mensa Brands who happens to be the. fastest unicorn in the country they. became a billion dollar valuation. startup in just six months and why. you'll get to know by the end of this. episode we've talked about a lot of. stuff he truly believes that next in. India like in next 10 years we're gonna. build billion dollar startups it's all. going to be digital first it's gonna be. every business gonna be Tech enabled.

digital first d2c consumers all of these. things are going to happen and the shift. is happening. so this is the right opportunity the. right time for you and me to just think. about how can we build such massive. enormous big businesses and can learn. from people like him so we've talked. about how to do that step by step what. is the differentiator between a brand to. take it from 0 to 20 crores then 20. cross 200 crores 100 crores then what. are the key points which you need to.

keep in mind when you're starting a. brand what are the key differentiators. how you can make sure that you increase. your profit margin who are the right. people the first five people who you. need to hire how to hire Senior People. how to hire Junior people how to make. sure that you are joining the right. company at the right time and building. yourself up in this part because. I don't know how many topics we've. talked about and I don't have words to. say this because you just need to watch. this episode till the end and you love.

it mark my words that this is one of the. best episodes we've recorded enjoy the. show with Anand Narayan of men Sabra. the first question I had it I wanted to. start right off that notice. I'm really curious to know that you want. to do auto and you said like you were. into engineering yeah you were doing. consulting yeah like what was that and. how did that happen like can Engineers. become good Consultants uh I think the.

answer is yes because engineering and. Consulting was a one common thing okay. should you be a good Problem Solver. Consulting by the way you get thrown. into a problem and you just have to. figure it out okay because you just. don't know that industry and you have to. appear smart right so I think problem. solving is the real skill right so I. think to that extent it actually worked. well right and the second is you have to. be good with people not maybe an. automotive certainly in Consulting and I. think those are the two skills I think. yeah yeah but so for example you did. engineering with me from Michigan yeah.

you had your plans you never wanted to. become like the actual Builder or the. developer in the company or you always. wanted to do Consulting No No in fact by. the way I actually never wanted to be a. consultant okay uh so I finished. Michigan and my dream job was Cummins I. wanted to go design engines okay right. that's what I wanted to do and it was in. the middle of nowhere uh where Cummins. is headquartered but McKinsey just. offered me a little bit more money I had. debt and I thought it was an interesting. business because you know it seemed like.

a great set of people so I make a lot of. my decisions not analytically but based. on people right and I think that stood. me well over time I really liked the. senior partner called Felix that I just. connected with so people connecting with. people is important I felt like this is. a group of people who take care of me. and I learned something so I said and. they paid me more in Cummins so I said. why not try that and I ended up sticking. with them for 15 years. interesting and you got your first thing. in U.S not in India yes I joined in the. Cleveland office of McKinsey and I was.

in Cleveland and Chicago mostly okay and. for how long you were there I was there. for about seven years then I lived for. three years in China okay I lived in. Shanghai uh and then I came back to. Chennai which is where I'm from and. spent five years with McKinsey in. Chennai and then to Bangalore oh now now. I have so many things to talk about. you're just broken down things for me. U.S China India then you're obviously. rest of their Journey it's just gonna. started from this yeah so you said you. look at the people and if the if you.

Vibe with people or you find that. they're gonna be the ones who are going. to help you out in your career yeah you. like them yeah so what are the traits. which you look in the people and how can. you judge that yeah no great question uh. I think the first thing I look for is. empathy do they try and understand your. perspective okay right how do they do an. interview you can make out right I mean. if they ask a little bit more about you. and they're a little bit less about just. asking a question that's one indicator. okay right second is by the way the only. thing that compounds in life in life. apart from money is reputation yeah.

reputation compounds right so you do a. little bit of research on the person you. talk to two three people I never by the. way either hire a person or go work for. somebody without doing five independent. ref checks I talked to five people that. have sort of either been part of their. life their friends whatever and I always. make make up my mind that way wow. because it really helps right because. you know something about that person so. one is empathy second is second is just. the reputation and doing a rough check. around the reputation right just not. taking your reputation for granted right.

I think the third in some way is the. repetition of the organization as well. right so for me by the way at least. early on and this is different from the. startup phase right at that time. McKinsey McKenzie Still is a great place. but it felt like a very cool place to go. join right it seemed like a fun cool. place to go join right you know a lot of. people that I know who are you know. seniors of mine in college all went. there so all of that sort of played in. that's how I sort of made that okay so. did you do by the way ref check for this. podcast well did you ask your five.

people I I did a rough trick by checking. out a couple of people that you've. interviewed okay I do I do you can't. take that out of me yeah so now you said. the reputation part right now a lot of. view was and a lot of people who are. watching this probably are young Yep. they're probably a building their own. startups or small businesses or maybe. are at a place in a company where they. see that hey I've joined a startup and. then I want to grow here yeah joining a.

large firm right yep how can. I'm gonna ask you if I'm going to divide. this question too or maybe you have one. answer for both of them so how can a. young startup build their reputation to. attract the right Talent well it's a. terrific question uh what is the second. question second is the second is how can. a young leader or a young girl. self-repidation yeah so let me start. with the startup piece right yeah. I think in startups the way you build. your reputation is twofold. how you let go of people matters every.

startup will go through ups and downs. you will let go of people how you let. them go and the reputation of people who. are no longer part of your organization. is the one that drives most reputation. right so I think. so the interaction actually let me just. expand that I think when you come in. independent whether you take that person. or not when you interview somebody the. experience that they go through makes. the reputation the way you exit them. from an organization makes a reputation. I think these two by the way are last. thing because their moments in time.

where people remember first and last. time first and last impression people. remember so I think doing these two well. even if you're a young startup right it. doesn't matter the first employee you. hire how you hire them but you're. gracious about it whether you send a. nice note saying excited to have you. right you don't have to send anything. right you may not be able to afford to. send a gift yeah but sending a nice note. helps likewise by the way I went through. uh you know. we all go through faces I think in. various companies I have to let go of. people senior people mid-level people. doing it nicely making sure they're.

successful making sure they understand. why it may not be a good fit goes a long. way in building a reputation I have a. lot of people who you know. professionally may not have worked out. but we are still friends right so I. think getting these two points is very. important for a reputation the second. is governance I know it's a long deep. topic so but I think having a reputation. for being squeaky clean in your dealings. as an early stage startup is important. right what do I mean by that.

you know the cap table that you have. you know how you actually conduct. yourself do you actually close your. books and get a reputed firm to sort of. do your First Financial Year all these. seem like small things especially when. you're in a hurry yeah and you're. growing Revenue growing your users. growing your ex right all. but this 10 percent and taking paying. attention to the 10 builds your. reputation enormously right because it's. just so people. exit an entry number one number two is.

focusing on governance early and getting. some basic building blocks right is. really really important okay that's how. you build a reputation right the last. way to build a reputation is the hard. one but you make investors money every. time that's the best way that's the best. way because eventually by the way. reputation carries through right I mean. if you've made money for investors every. time that reputation carries through. so and sorry one more ad. when you go through a tough time as a. student.

and you have to let's say you know sell. at a distress you know do a Down Round. how you do it and how you take care of. your investors matters if you try and. maximize for yourself and not fair. investors that ruins the repetition wow. yeah that's a good one actually you know. because I can I can think of people a. lot of people who get into startups they. are getting into startups because they. want to maximize wealth for themselves. correct and that's good way but they're. always just thinking about it yes. they're not thinking about the other. people are backing them how can they.

maximize them my short advice to anybody. right is maximize the welfare investors. I guarantee you guarantee you you will. maximize wealth for yourself. if you do the right things right for. people who put money into your business. it will work out yeah right. it's a good way I think the first and. last impression also like hit me really. well yeah now the question is like. anyone who's starting up yes. go from the Consulting point of view and. now from the startup Point yeah it's.

early it's the drown okay now they're. just getting their first founding team. who are the four first five people who. people need to get right like the five. categories of the five departments or. the five people yeah I think uh how. should they hire like who are the right. people yeah so I think I would go less. on category and I'll go on more on. people and characteristics right so I. think early stage.

I think the first characteristic is. people who actually get done. right executioners execution I mean you. don't need five thinkers you need people. who can actually go hustle and get stuff. done right so. um I mean I can say this because I'm. from McKinsey right I mean don't get too. many consultants right get people who. can actually go and get stuff done right. I mean if you're is so that that's. that's what who are not the people to. get right.

I Would by the way say the first and. foremost is to get a great great. Performance Marketing person the second. person to get is a great Tech person. yeah right product and Tech you can. combine get a great product in Tech. person. the third to get actually for a d2c. consumer startup is an Ops yeah and I. think most people forget that so if you. take CX supply chain. Inventory management planning all the. things that don't seem very cool but are. really important to get a product to a. customer yeah right get someone right.

most people think you can Outsource it. you can get it done through a third. party agency but it's core to your. business so you need to have one person. who sort of anchors it yeah the fourth. is interestingly find a talent. acquisition person. oh from like right from like day one. it's one of the things that's worked. very well for us at Windsor our sixth or. seventh person that we hired was. actually somebody who helped us with ta. it's been great for us right because. you're able to because you know if you. scale. right you need people and you need great.

people and therefore you know getting. that right is important and the last I. would say is actually assuming that the. founder is doing the p l and the brand. and all of that right I would say is to. get at least a good business finance. person if not a controller so that you. start to understand the economics of it. yeah right from the very beginning. because the unit economics is everything. right d2c business I know man I remember. one of the fuckups I made during. pandemic uh so I started selling my. disinfectants freeze on Amazon and I did.

like tremendously good sales yeah but so. tax lab was 18 right but while signing. up yeah you thought it was yeah I forgot. to like correct that to 18 and. automatically Amazon put it 40 percent. got it. yeah like one month of correct effort. and everything just went down to drain. yeah yeah and I think these small things. matter right the funding finding that is. is one of the biggest things which. people need to understand now I want to.

go deeper in every category yep okay so. let's say first you said the tech person. yes consumer business is pretty straight. business right that's what people say. why do we need tech and consumers yeah. no again great question so. there is you know firstly by the way if. you think about a consumer brand today a. consumer brand today sells on. Marketplace a consumer brand sells today. on DDC consumer brand sales on offline. yeah these are the sort of three sort of. distribution channels that you're doing.

through each of the processes needs to. be actually thought through a little and. then there's the backend which is how. much inventory do you need how much how. will you supply the inventory what we. make available what products do you make. and how do you make sure that you select. those products. for the first couple of times first. couple of months you're fine by the way. doing all of this manually but if you. have a product person who thinks about. pricing from the very beginning product. Tech person you will think about pricing. very differently. right so when we started Mensa right. we had.

for every we have now 23 Brands okay you. can't sort of do everything manually. right so even for pricing you know 23. Brands times three competitors times six. channels certainly is a lot of data. so how do you scrape that data and how. do you look at pricing and how do they. give recommendations if you think about. it from day one you'll set it up from. day one second is what data do you. capture Amazon for example which you. talked about allows you to store data. only for 90 days yeah right but you need. history yeah so how do you set up your.

data from the very beginning so that. you're capturing the data that's. required you may not inside the data. early on but a year from now you'll. regret not having it yeah I know this. so I think that's the reason you need. the tech person and the third is by the. way. unless you as the founder are the tech. person you want to ensure that Tech is. the part of the way in which somebody. thinks if they think of an Ops problem. you think Tech first if you think of a. category problem you think Tech first. and having a solid product and Tech. person in your team allows you to do.

that and that helps you build for the. long term I think one of the biggest. things that mintra did from the very. beginning was having product and Tech so. what are the inside elements inside and. myntra is fashion is a browse category. not a search category yeah right it's a. discovery it's a discovery therefore by. the way the metric that matters is the. time spent at the number of episodes. that is immediately correlated the. number of purchases in the lifetime. value of the consumer. therefore building a platform that's. easy to use browse and spend time is.

really really important therefore having. a seamless experience of how do you. actually think about fashion how do you. engage the customer Etc was critical to. making this happen once you have that. Insight right making it real I think you. needed the product and Tech person too. yeah okay let's get let's come to Ops. now okay yeah what are the. I'm going to ask you like a super dumb. but straight up question which I think. is going to help a lot of people in. hiring right yep so you're hiding your. first top Sky yep okay what are the. three things you're gonna look into.

their CVS okay and it just start. starting of the business and let's say. what is a the what is the CTC which. you'll expect to give to this person. like the first Ops guy yeah you have. you're not the Ops person you just know. there's a great product I know how to. Source it um. so CTC I would say is between 20 and 30. right is roughly what I think you should. do uh I think you should look for an Ops. person. who has been in a large e-commerce.

platform. large large and the reason I say that by. the way is. you've seen scale at some point right. it's important in herbs in particular. it's important to think process and. scale and it's easier to do that if. you've done the ideal combination is. someone who's worked on a large Commerce. platform and before that has maybe done. a small startup of their own or by the. way has sort of started and failed in a. startup. so they need to have experience of. Ground Zero they don't have Ground Zero.

unscreen as well yeah so I mean you. could be a junior person in a large. e-commerce platform but if you've done. that plus you've actually done your own. startup or being part of a founding team. of a startup that's failed even better. right you've actually seen some failure. that in my mind is an ideal candidate. nice okay so you you answered that and. you don't need like let's say a lot of. people say that because Ops is like one. of the biggest things you need to and. d2c specifically do you need like a.

senior hire an option I don't think so. uh I don't think so I think you need. initially people who are on the ground I. think a lot of Ops is really about. getting stuff done I think you need. initially people who can hustle and get. stuff done a year and a half into it. then I think you'll need to get more. senior people now obviously all of this. depends on how fast your company Grows. Right I mean look in Mensa by the way we. have a great senior operations here. right and we hired them early because. our model is also such that you got big.

very fast right and there you need. someone seasoned and Senior because you. now have 20 companies that you're. managing and so on but otherwise if. you're a classic one single brand. startup I would say look for someone. who's done a startup and failed and. worked in Ops in a large e-commerce. company. um. interesting so that's your day one okay. now there's one more part of it like d2c. a lot of people don't pay attention to. it that's sourcing of your products yep. right do you think we should get. sourcing guy from day one as well I.

don't think so. um because you have to do it as the. founder I mean you have to sort of be. responsible of something I think you. have to sort of say what is the product. and where do I Source from right so I'll. give you an example. um we have as I said 20 plus brands in. Mensa today I must have met 700 plus. Founders right in the last sort of 15 16. months to get to these 20. 80 of those. funders all are profitable all are. between 10 and 100 crores in Revenue. but all of them I mean but not all 80.

plus percent call it right are people. who are actually doing their own. sourcing and their own product hardcore. purchase people. you don't need to necessarily know what. you have to do even if you don't know. you learn. yeah you have to go visit like those 10. suppliers. you have to be very on grounds Hands-On. with it so that that'll give you a depth. of your own business that's right okay. yeah so now uh let's talk about as a.

consultant so you're from Consulting. background yes you're from engineering. so all this problem solving yes how do. you approach a problem of a startup. so because. let's say a lot of people say startup is. an opportunity but opportunity means. problem yes if you solve that problem. then only it's an opportunity so how do. you look at it what are the factors you. look at in let's say it's a okay let's. divide it into two parts one people who. are the idea stage how do you look at. the ideas and like solve approach that. and any other which is a scale stage.

right so um Alonso both and then I'll. give you a caveat I think firstly one of. the biggest things you have to unlearn. from Consulting to Startup is too much. problem solving okay right and the. reason I say that is. um in Consulting you have more difficult. problems and you need to solve them in a. deep manner right because you've been. hired to do that right I mean yeah you. know there is a company with a very. complicated problem in one particular. area that you go in and deeply problem.

solving so you've been hired to. overthink yeah I yeah you know if you. want to make fun of Consultants we can. say over things that's right right but. in a startup actually overthinking is a. disaster. I think it is better to make higher. velocity of decisions than get all your. decisions right go deeper I would be. very worried if I got 100 of my. decisions right. I should only get two thirds of my. decisions right and I should make them. first. speed over between over perfection in. decision making from an OP standpoint. really early matters right you have to.

make small decisions but keep making. them now I also believe that you know in. a startup there are one or two big. decisions. right the big decisions you should take. time to do which Market do you want to. play it you know who Who's the who are. the set of investors you want to have on. your cap table these are all. irreversible decisions those you should. take time for but from a regular. operating the startup standpoint making. faster decisions is more important than. making perfect so I think that's one. macro thing about it if you know go back. to the question of how do you approach.

sort of I have a very simple rule on how. do you actually think about starting. is it a large Market. is it a complicated problem. do you know something about that problem. these are the only three questions you. need to ask when I do some I don't do as. much Angels investing as many other. people in your podcast but I I do I've. now done almost nothing because now I we. end up because we actually end up buying. companies Etc it becomes harder to. actually do this but. um but that's the only question asked is.

it a great Market. is this a difficult problem because it's. an easy problem there'll be too much. competition yep yep and third is by the. way does the founder know something or. do I see something in that person. that I know that they will persevere. right in this like resilience so these. are the only three things I look for and. that's the only thing to look if you're. a startup founder if you can basically. say look I'm passionate about this. problem it's a large Market it's. complicated that's all you need don't. know what because starting up requires a. leap of faith yeah right it is.

so I think that's on the startup scale. up I think you can be much much more. problem solving oriented and figuring. out what to do right in my mind if you. look at scale up what do you need you. need people. you need process slash expertise and you. need capabilities. what prevents a company from scaling. right one is they don't have Capital. yeah they just don't have money when I'm. working capital you don't have access. second is you may have access to Capital. but you can't hire the right people for.

the right job right yeah third is big. pain you haven't put in place some. process right see for example you know. after you're a thousand Road company if. you're never close to your books or you. don't have an accounting process in the. back end it's very hard right so you. need or by the way you don't have a. warehouse right I mean it's just really. really difficult so from a scale-up. standpoint the way I would think about. the problems is there a process problem. is there a people problem or is there a. capital problem. I think bucketing it into those three. and solving each of them is important on.

the capital you have to ask how much do. you need for how long do you need it in. the case of people you have to sort of. problem solve it down to what are the. three key hires which we started with. earlier right and in the process you. have to figure out how do you balance. out speed and bureaucracy. speed bureaucracy and control right. you know when you have 100 crores of. inventory. you need some inventory controls when. you have 50 000 rupees of inventory you. don't worry about inventory control. right so you know you have to sort of. balance those two out okay now let's.

talk about your journey yeah in U.S. China and India yep okay what is the. thing with your folk like what you've. seen like why is U.S like world power. like what do they do differently what. does China do differently so that. they're raising at crazy level and what. is India doing right now which you feel. like eventually India is going to be a. Powerhouse yeah I'm going to stick a. little bit more to Consumer internet and. just the view of the consumer internet. because I think otherwise the economy is. just are very very different yeah right. um. I think what the US does which allows it.

to do is I think ability to fail fast. without any stigma attached allows for. lots of experimentation you take slack. right slack used to be a game called. glitch I don't know if you know this but. you know. um the original thing was they were. creating a metaverse and they were. trying to create this game called glitch. which failed but they had actually. Engineers all around and they created a. a communication protocol for engineers. to collaborate which eventually became. slack right but you the ability to fail.

but you know I have no Stigma attached. be able to raise money again. and therefore experiment right I think. it's like incredible I think that's one. thing that America gets right the other. thing is if you look at the Silicon. Valley thing which I think we need to do. more in India I'll come to that in a bit. is the ability of having mentorship. research and capital together. you have Stanford and Berkeley right you. have uh. incredible culture of mentorship right. you call anybody right they will return.

your call they will help you they will. spend a coffee with you and give you. some advice right and therefore you feel. even if they don't give you money right. you feel supported yeah and third is. there's a lot of venture capital going. around so this combination is deadly. right I mean you're able to create these. incredible companies so I think these. are the two big things that America I. think that's why it continues to lead in. technology right. ability to fail fast no Stigma attached. and Rise Against the structure support. and this support structure I think this. is like superb right I lived in China as.

you know. um. and I think one thing China did I don't. know if it applied to us I mean I think. the bus is left so it doesn't matter but. I think China and I was there by the way. in 2002 to 2005. okay if you remember. IBM's PC division got bought by Lenovo. at that point of time it was the first. major Chinese external acquisition that. happened Alibaba tencent were all just. taking off JD we're all taking okay. one thing they did is they created a bit. of a Walled Garden.

okay what do you mean so they didn't let. any external competition happen so all. their companies grew without a lot of. external competition for like a fair. amount of time right yeah so they got to. like massive scale before they let. competition in and by that time by the. way your your home yep yeah right yeah. so you look at Alibaba you look at. tencent you look at any of these no if. you look at India that hasn't happened. right yeah because you've had. competition from Day Zero yep. if you're a homegrown company you always. have some Global competitive with huge.

amounts of capital and because of that. by the way the Indian entrepreneur also. has to raise a lot of capital ends up. not owning much right so so China's. model was I think two things worked for. it one is this world gun. second is superb execution I think the. ability to get down to the last level of. detail and just get stuff done is just. spectacular to see. you know you actually in India right if. you actually give somebody I'm sure it. happens in yourself you need to follow. up once you need to follow up twice then.

you would say did you really get it done. then you have to go check whether it's. actually you don't need to do this in. China right you tell somebody it. actually gets done. so there is a mindset which I think we. need to get a little bit more on I think. it's improved dramatically in India also. by the way so. um I think these two work the wall. garden and this intense focus on. execution. I think what's happening in India which. I think is superb and I think the next. 10 years therefore are going to be the. best 10 years is one we have the. demographics.

right I mean we have two things going. for us we have a very young mobile. internet using population yeah second we. have no modern retail for example I mean. relatively speaking a modern retail. penetration is so low yeah therefore. it's unbranded to branded that's. happening therefore there's a massive. shift and therefore. category and screw across all sectors. but 100 and therefore there's a huge. opportunity in my mind just to create. businesses and Brands right. I think the third is we have among the.

most inventive hustle oriented set of. Engineers product and startup. entrepreneurs right and I think um you. look at the first generation of large. successes such an invenient Flipkart any. of these right hola many of them have. created now role models for people yeah. if you go in my you know when I. graduated from college a little older. right so when I graduated from college. like the best thing to do would be to go. join maybe a consulting company you know. potentially a Google Microsoft.

Etc right. now if you look at it most people say I. want to start something yeah and that's. massive and that's so nice to see I. think entrepreneurship has become sexy. yep it is now and it is Sexy and I think. that is huge and therefore there is now. a bunch of people saying I want to. create and then the law of probability. holds if enough number of people try. some will be out outside successes right. so for India I feel like the next 10. years will be our best 10 years because. we have demographics we have structural. Tailwinds in creating businesses and we.

have a population which is very hustle. oriented oriented towards creating and. now has confidence in itself saying that. I can go create a job like I don't have. to go work for someone I can create a. job. I think this is what I think India is. going for the next 10 years in my view. yeah and I can do now that I'm thinking. about how did I I start everything yeah. like these are the major factors which. played a role in my thing as well right. so I read a book called 10 trillion. dollar yep okay it's like BCG book yeah.

okay so this is about India China yeah. yeah and the books like centrally ideas. is like the the middle class is growing. yes and that's where the biggest. opportunity is yeah so India has always. had like either so in U.S they have. luxury Brands India has never had like. massive luxury of Premium Brands so. there's a huge opportunity for India and. that's where I started so that's why my. dishwashers the detergent which we got. right we were always operating in Mass. premium yeah everybody told us that. we're stupid to do it but because we did. it it's helped us scale a lot yeah right.

so Mass premium worked out so the book. helped me because I understood that yeah. then the second was at that time when I. started in 2013 uh at that time like. just Oyo was 2014-15 ish Oyo was like. become like the entrepreneurs of course. do you like someone of my age yeah you. can do like something like this this is. this like super yeah role model-ish. inspiring and that took that took me. courage to go and do these kind of. things okay like just go out and try to.

do it yeah yeah and it's like no I mean. you're the absolute example of this. right let's talk about the India part. right yep I had a question like because. now that you're talking about India is. going to see young audience digital. first buyers Discovery based buying. small business opportunity we're going. from one category yeah like unorganized. to organize Market these are huge. Tailwinds to go over yes okay but we've. often spoken about our capacity to pay. yeah like do you feel that India has.

your what do you call a price propensity. per user yeah yeah yeah. purchasing Prosperity yeah so um I yes. it's getting better but it's getting. better slower I'll give you an example. um today one of our Brands called. karagiri sells saris okay six thousand. rupees. which I thought would never sell online. yeah.

we're doing like a 60 70 crore Business. right and it's growing rapidly. so I think it's changing I think there. is now more propensity to pay I think. there are two things that are happening. one I think um. current generation which is between I. would call it 20 and 30. looks for. experiences. uh more than Savings in many ways. therefore they spend a little bit more I. think so that's changing right and I. think that's really important and I.

think that will shape yes however I will. tell you that the bulk of the market is. still mass and mass premium right yeah I. think the true luxury Market in India is. still very non-existent and everybody. who wants luxury also travels abroad yep. and therefore is able to buy it outside. exactly right so I think mass and mass. premium we are always going to be a. value conscious Market at all things. even if you buy an expensive thing you. want value for it right yeah I think. it's just in our nature so I think India. consumer is always going to be value. conscious and therefore if you can. succeed it here's the other twist if you.

can succeed in India you can succeed. anywhere so we have now 30 of our. Revenue coming from outside India we're. taking all Our Brands global one. question I always have is you know we. are among the largest manufacturer of. garments for all of these large fashion. novices everywhere h m Zara everything. we make here but we've never created a. brand why. so we're taking our Brands now from. India globally and because now. distribution is free right yeah not free.

but it's easy easier very easy for you. to the entry barriers are like entry. barriers are lower so it's a Level. Playing Field now right you know I. usually say this to like most of my. people in my organization like in India. if you are building a mass brand the. customers is gonna compare the amount of. price he's paying versus the features. he's getting that's right and if you're. in the luxury Market the customer is. going to compare the amount is paying. versus the show-off capabilities of. their product it's an interesting way to. frame it by the way I think it's true I. think it's true I think the feature to.

cost is really feature to value is. really what I think the master must. premium is all about like you know even. if somebody so I've spoken to a lot of. people who buys like let's say LV Gucci. they go to self ridges and like buy some. expensive stuff and I've always spoken. to them like why do they do that like. but it's this story which they want to. marinate and just talk about of course. anytime you buy a luxury item right. where the cost to MRP is more than seven. you know you are only buying it for.

vanity I'll come to just switching. topics I'll come to one of my favorite. topics on wine okay wine is a classy. example of a luxury item right so here's. a question for you you know there is a. wine which is very expensive like call. it north of 500 right whatever some. large number right. what do you think is the cost price of. that one like what does it take to. actually make the coin. I'm assuming that if the wine is so. you're taking a luxury Market yeah yeah. so I'm assuming the wine is really nice.

beautifully made Etc 500 bottle yeah. it'd be 100 at least. twenty dollars. so I'm saying by the way a lot of the. reason I'm bringing this up is at the. highest end of the segment right you're. selling a story you're selling a Brand. Story you're selling an experience it's. not necessarily value to cost I think at. the next level. I think it becomes very much value yeah. right yeah but even there like it's a. value play like this just this just the. ability to talk about the story yes if.

you're gonna compare with the amount of. money that's right that's right right. that's right so that's a you need to. have a USP and that USP is unique show. of preposition in show proposition. that's what you need to do okay now. here's a question yeah and it's. generally coming from a point because I. come from a manufacturing background and. I've seen businesses like small. businesses struggling to make more. all right so manufacturing is getting. democratized yep right so it's very easy. to have something or the other and.

people are making so your question is. dying yep so how do you make sure that. you come in the market and you command. more gross margin most people say The. Branding is the right way to do it like. if you believe that right yeah I want to. ask you from a consumer brand. how can people build their. cost leadership or maybe like just. increase their profits like what is the. way to do yeah so I would say uh look. firstly if you think about it. distribution is democratized because now. for 140 rupees you can reach 24 000 PIN.

codes in India more or less through. myntra Amazon Flipkart any of them yeah. right that was not the case when you. when you have a classic fmct business. right you take a Unilever with three. tiers of distribution and a few million. touch points that was the mode because. to get to every part of India you needed. the distribution so that's gone. right the second is brand building is. now less expensive because if you think. about it what does e-commerce percentage. of retail sales eight percent. right you know in the covidia maybe nine.

nine and a half but I'm saying you know. it's eight percent give or stake right. but if you look at the amount of product. that gets researched online before you. buy it that number is closer to fifty. percent. so even if you're buying like this. jacket that you're buying right even if. you don't buy it online you will go. research yeah right yeah and therefore. brand building is now happening more. digitally okay so these are two macro. ships that's why it's so easy to launch. a brand no. but what makes it hard to scale a brand. I think is your question right see if.

you take a brand right usually if you. take Fashion Beauty or home usually it's. a 70 gross margin business when you buy. from a manufacturer okay right roughly. then by the way roughly commissions. Logistics all of that take away another. 30 percent okay. okay so you know you now have 40 left. marketing is the killer in making money. and growth and marketing becomes the. killer right if you basically spend 40. percent. or 50 on marketing then you lose money.

if you are able to spend 30 and get word. of mouth and virality then you make. money. so I think the ability to grow without. spending a lot on marketing is the key. to making your life sustainable in a. high gross margin business like. lifestyle that I'm in right like you. take Fashion Beauty and home generally. the product cost is is good right I mean. gross margins are good in the business. yeah right yeah not like say mobile. phone where you're much lower gross. margins there the magic is can you spend.

less on Performance Marketing and can. you make more of it basically pull based. so that there's some virality associated. with it right the best marketing is that. that you don't pay for right yeah that's. the best one yeah okay so now you said. like marketing is give and take it's. it's make a break first yeah. specifically in. every d2c brand let's just talk about. yes most of it it's it's about brand. building so what should d2c business. should get right like what are the three. components yeah so I'm going to divide.

it up into three parts okay. first is if you are less than 20 crore. brand the second is we are 20 to 100. tour band and then more than 100 code. brand okay because they're three very. different things that you have to do in. marketing in the less than 20 crore. brand don't do marketing. only by the way get your product right I. want fabulous reviews and ratings I want. to make sure that the product works I. want to make sure that people tell their. friends about the fact that the product. is superb Focus 80 of your attention not. on marketing but on making sure that the.

product is great the consumer experience. in the consumer love is great. but how do you differentiate the product. in the beginning so let's say I'm giving. an example I'm launching a t-shirt yeah. it's so easy to launch a t-shirt yeah. like just go to website and launch it. right yeah but nobody will tell you the. details matter okay what cotton you use. matter whether you just because we're. talking about t-shirts and I know a. little bit about t-shirts right you know. having a sweat patch matters. the label matters the feel of it matters. if you actually do a graphic t-shirts.

how you do the graphics matters can you. do some Innovation around that matters. right so for example could you basically. build in a interesting graphic with a QR. code that actually leads to some content. when somebody looks the T-shirt. these Details Matter right if you launch. your undifferentiated product in a. crowded Market it's hard to succeed. exactly right so I'm saying by the way. what I'm telling you though is the. product has to be differentiated early. on. see or you have to say look.

I'm from a large manufacturing house I. have a structural cost Advantage I'm. going to just make the cheapest t-shirt. and sell. different place yeah but then you're not. a d2c brand with pool so creating a. differentiated product matters right I. mean you know how you do your genes. matter what you know clothes actually. Details Matter the label matters yeah. the fit matters right yeah if it you can. talk about for hours actually getting. the fit and the size and fit right it's. the most difficult thing it's the most. difficult thing to get right in jeans. but if you get that right and you have a. reputation for it.

then the reputation carries right so I. think initially focus on product yeah. build a super product differentiated. product and something which can put out. a value which is enough for people to. talk about it that's right from 20 to. 100. you basically have to do 80. Performance Marketing. 20 brand Market right and I'll tell you. a bit of what I mean by that right 80. Performance Marketing is you have to. master. Amazon Flipkart myntra Nika ago.

algorithms. how do they work what works on. visibility what works on growth it's. actually a hard skill you know in the in. the old days for I mean I'll come to. Google and Facebook in a bit right but. 70 of Commerce still happens through the. marketplaces you have to figure out how. to in a in a retail store where the. product is placed matters. right yeah in Amazon the first four. swipes matter how do you get on those. first four swipes without paying the.

maximum amount of money that you can pay. right right that's the core skills right. and it's it's mathematical. it's analytical and you have to build. that capability you'll do hundreds of. experiments which keywords to bid on how. much to bid on. which um you know which panels do you. bid on yeah right do you do display. advertising versus product advertising. that's a skill so that's one big skill. that's where your performance marketer. really comes through right the second is. brand marketing and here my my.

counterintuitive thing is it's not about. running campaigns it is about having a. continuous all the time on marketing for. 24 7. that basically allows the brand to. become known you know you should build. up a social media following you should. build up engagement you should basically. be relevant and be in communities where. the brand is being talked about so this. is not a lot about you know. I get a celeb and I run a campaign right. it's much more about having.

conversations about the brand having. micro influencers talk about the brand. doing a whole bunch of things that. doesn't cost a lot of money on brand. building because you're still building. the business. right and then still making sure that. there's a brand presence of social media. presence that's interactive nice and. relevant to the brand. 100 cores and up you have to switch. right there you have to get to pull. that's the right time in my mind to do. TV that's the right time to do. aspiration right you won't pull now you. want people now the the single easiest.

metric is are you searching for shirts. and is your brand coming up. or are you searching for Brand X. right brand searches have to go because. from 100 to a thousand crores you're not. going to go there unless your brand. becomes a pool based brand right so we. have now a brand called pebble which uh. does you know smart watches and there we. have Tiger Shroff we're doing brand. campaigns Etc right which is doing well. um we have now a north of 100 tour brand.

which we're doing a brand campaign. called Dennis lingo which does great. shots and for that we're now going to. get a brand ambassador to TV Campus. North of 100. yeah and there you need to. be on TV on everything you know you need. to have both you need you that's by the. way a good time for you to go offline. because the brand becomes real yeah yeah. because you want to see stores because. the brand becomes real for you right so. all of that starts too because you have. to go from push to pull. up to 100 crores you can push from 100.

to a thousand you need to create pool. yeah okay now I have an interesting. question for all the three categories is. just quickly tell me one one brand each. who you feel is doing really great job. so people can learn from yeah so um from. 0 to 20 have you seen any Brands yeah so. I I you know well I I mean I'm gonna. name Mensa Brands but I think that's. because I've I've known them and we've. selected them from a large number of. Brands but I think um uh you know. karagiri did a superb job in the 0 to 20. crore range in terms of the product. product quality all of that was just.

superb a known Mensa brand I would say I. think Neiman shoes and what they're. doing now I think seems very interesting. right uh I think in the 2200 Pro range I. would say one brand that I think uh I. really like and what they're doing is. priyasi which does jewelry costume. jewelry it's growing really fast has a. great following right doing really well. right and you know north of 100 crores I. think there are very many I mean if I go. back to my early days of mint writing. hrx is on a superb job I feel really.

good I mean I was part of the birth of. that brand and I feel like you know. that's done a fantastic job right so I. think these are the three major yeah. right have you seen any other patterns. in terms of demography in terms of uh. people or like geography where there's a. highest pending power or these are the. people who are like heavily so I'll tell. you it depends a little bit on the ASP. okay right if you're talking about asps. between 500 and 1500 rupees it's.

actually quite evenly spread out there. is a larger growth happening in tier two. tier three cities than in the Metros. okay because there is no access if you. go beyond 1500 rupees in ASP then I. think it becomes very concentrated in. the top 30 cities. because the spending power is more there. right so if I look at demographics at. least in fashion it's quite. counterintuitive right um. uh Northeast. you know coimbatore Salem Chandigarh are. all large markets because they're.

spending power there are no real malls. so people buy a lot of Premium products. online right um. oh that's a good inside like because. there are not not like many branded real. there are no there are no real branded. malls so you buy online right and you. buy expensive stuff online yeah uh I go. back a little bit maybe a bit dated but. if I look at my Mantra experience right. first very counterintuitively men buy a. lot more. than women and the reason is by the way. men are very brand loyal so once you. find a shirt that fits you keep buying. the same shirt in the same platform. right whereas women generally try to try.

more things therefore men are lifetime. value to cost of customer acquisition. slightly better. um so I think that's that's one. interesting factoid the second I think. which is quite counterintuitive in my. mind is you know the growth in the. non-metrocities has been always for. example Northeast is one of the largest. markets for myntra you know you don't. think about it right I mean you know. there's a fairly large Warehouse in. gangtok for Mitra right and just it's. interesting because you know you don't. think of it that way but it's large.

large Market because people are very. fashion forward okay another question. like with d2c is a lot of people's face. is it retention yes like you sell it to. multiple people you do performance you. do marketing everything is good but the. making them buy again and again is a. challenge yes how do you I think the. first way to tackle it is through. category expansion. right. um it's very hard if you're a short plan. to get retention yeah because you don't. buy so many shots you have to then say I.

will sell accessories I will sell. trousers I will tell I will sell shoes. so increasing the occasions for purchase. from a single brand. has to be one big lever on retention so. if you like the one one see almost. anything in lifestyle can extend. I'll give you a cool example of one of. our Brands it's villain villain is a. fragrance brand right I mean we just. launched with hardik pandya and it's. been quite cool right but villain. actually sells gold chains. yeah but actually by the way twenty.

percent like ten percent died I think. twenty ten percent is now gold chains. and attire so you know there's a hoodie. there's a villain hoodie there's. sunglasses and there is gold chains that. are selling and that increases retention. because now you have more occasions to. come and buy. um right so I think category expansion. is one big piece. I think the second often talked about. but very hard to execute is customer. life cycle management. and. there the balance is not to be intrusive.

but to also be in touch. what do I mean by that right so you know. if you keep sending me notifications I. can get annoyed but on the other hand if. there is interesting new content that I. keep posting about villain which we do. then it's easier to stay in touch with. the brand remains relevant so when you. have an occasion to purchase a perfume. again you think villain so your top of. Mind recall goes on so there's always on. marketing where you're relevant for the. TGs the other way to improve retention. right because what happens is digitally.

at least you're aware right you've seen. the product recently so when you go. decide to go buy it's top of mind for. you yeah right so I think that's the. second way to do it right which is. important I think the third way to do it. is actually Ops which is one of the most. interesting things is the faster the. delivery of the first. the higher the lifetime value the. consumer at least in the case of almost. all e-commerce platforms yeah yeah so. the first delivery and Delight in the. first delivery is incredibly important. yeah I mean zap2 is clearly done that.

yeah I think it just makes a difference. right I mean just this thing between. satisfaction and Delight improves. retention yeah it does it does right. it's non-linear right you know you. satisfy this even returns but when. you're delighted. right your retention goes up like 4X so. I want to get to this part of. we were talking about. why becoming a job Creator is better. that's what he said yeah right it's much. better and then the right time to get.

into entrepreneurship yep what's the. right time to get into entrepreneurship. it's one of my favorite questions so um. I don't think there's the right time. right and I think um. I'll give you an example. for a business that we have started like. Mensa right where you have to convince a. set of Founders to actually partner up. with you. and you have to grow and scale Brands. which are quite complicated. if you're a 25 year old entrepreneur.

it's hard to do because you need a set. of life experiences that allow you to. actually do this so here by the way. being a second third time entrepreneur. and being having a little bit gray hair. helps right of course you need to have. energy and passion and all that right. but I think it's actually better. experience to have experience true if on. the other hand you're sort of trying to. create a Facebook right then it doesn't. matter right because you've created. something new but how many Facebooks are. there not many right or or instas or. whatever else right so I think it's the.

nature of the problem you're trying to. solve much in if you're solving a first. to the world problem and it doesn't and. it's a digital product then I think. earlier is better because you're more. creative you're more in tune with the. problem all of that right anything that. involves. what I would call boring operations. execution type work. right I think it's actually good as an. entrepreneur to have some experiences. let me give you another Factor. I think failure makes up for a better.

entrepreneur if you've not gone through. a tough time in your life it's hard. right I'll tell you we between myntra. you know most people think about life is. like this it doesn't happen that way. right. um you know medlife was such a tough. Journey such a tough journey I mean we. ran out of money you know. um we had to borrow we had to get debt. in order to continue I mean it ended. well but we went through huge stress it. is one of the best learning experiences. to start your business because you. understand the value of cash and you.

understand the value of a business. without an investor if you have burnt. your own money yeah building a business. it's very different right you run it. very differently right so I would say. life experiences are also important. because I think failure for example. teaches you a lot if you do it too early. in life right you haven't gone through. that. I think the third is look almost all. startups take some form of external. Capital there are rare exceptions but. you know almost everybody takes some. form of external Capital the minute you. take external Capital especially.

institutional external capital. right. uh governance matters. which we've spoken about and there again. by the way experience matters because. sometimes you just don't know what you. don't know right yeah if you haven't. closed books in the past it's hard to. know what to do if you've never had an. internal audit function you don't know. what to do right so I think. back to your question I think it depends. on the problem you're trying to solve. anything that needs I I would say. therefore there's no right age you can. you can do it at 25 you can do it at 45. but some problems are better.

to solve when you're a little bit more. age and experience I really love that. answer like when you're building a. digital first product when they're your. first to the world yeah it's okay to. just go out fresh it's just good. absolutely the other thing which is a. little bit more practical is the later. you start in life you're less. financially dependent on the startup. you've made some money you know your you. know your food and your clothing and. your children's education don't depend. on the startup right that helps because. it gives you enormous Freedom mentally.

yeah to be able to take risks to be able. to do things right your risk taking. ability just increases massively. massively and not only that your ability. to do the right thing increases method. because you're not chasing evaluation. yeah you know you're basically saying. I'm gonna build this. I'm gonna do it in what I think is the. right way yeah this is my next gig this. is my next gig right exactly so I think. that's the other thing that I think is. very very different right because if you. have a little bit of that fallback. option that gives you enormous freedom. and therefore second time founders.

if especially about a successful exit. actually are able to build and do things. very very well right because they have. the they have the flexibility yeah yeah. how is this you know while this answer. though I was focusing on the wisdom. you're giving I was just taking the box. I said for me I was like validation. okay like two three things which you. talked about I'm like okay for this I. need a senior person. no but I'll tell you when I decided to.

start this like you know multiple people. came out and asked me are you mad why. are you doing this yeah I mean you're. like in your 40s. I think. for all the people I know many young. people listen to your podcast for people. who are older 23 people who are above 40. years superb for all of them right now's. the best time to start. because you have life experiences you. have some fallback options and you have. a lot of wisdom in terms of being able.

to make the right calls yeah and you. have an opportunity to create something. special yeah. and if you guys are really like. entrepreneur you can join me as well. I need experience I need people to like. do this yeah exactly okay just I wanna. take this part yeah really well about. the hiring right you yeah. experience yeah over the time you've had. you go from like Ground Zero to become a. c-suite okay and then you start like you.

almost became a part of a startup which. was technically like you kind of. partnered with them in order to like. grow like a very crucial part yes and. then now you're starting as a Founder. yeah are you like hired I mean I don't. know like the top of the top people like. I'm going through your yeah yeah team. section I was like Wow boss like this. this team looks incredible right yeah so. you get something right about hiring. right people. as far as it looks like right okay yeah. what is your take on. so.

hiring the because team is the most. essential part yes and you need people. who are smarter than you yes fully how. do you check like so somebody who's like. super smart you don't have corrective. measures to actually test them. how do you hire them like let's say I'll. give you an example of what my problem. is sure. I need to hire someone. of like for something which I've already. done yep at let's say uh 24 to 30 CTC. Wala cost because I've done that part. yeah I understand what are the key.

Essentials and I have five questions if. he's like done with that right I know. he's the right person yeah right but. when I go to like let's say a crore CTC. or like a 70 CDC right I've never done. this yep I'm getting them because they. can teach me yep. how do we so I think. three parts to the very practical answer. right the first. is actually solve a problem with that. [Music]. it doesn't matter how senior the higher.

I always always give them three. questions of a current problem that I'm. facing and I get them to put down on. people how they would solve it. they take three four days they can do. their research they come back and tell. me here's how I would have done it what. does that how does it help me it helps. me understand how they think. what level of detail do they get into. how hungry are they how much research. have they done some people come and give. you some general gown right saying you.

know yeah. others on the other hand have gone and. done some research they've said I've. gone to your website here's how the page. looks here's what I think you should do. I some people go one step further and. said I looked here at your page load. speed and it wasn't great some others go. back and say look I compared it to four. competitors and here is the pricing. difference that I think you should do so. if I give them a problem I give. everybody the same problem so I can. compare horizontally yeah nice so give. them a problem make them write down the.

answer let them actually do real. research and come back it doesn't matter. if they can be like 20 or experienced. guy you still make them do this. right that's really important because if. you don't do it and you're sort of in. awe of their experience Yeah because. sometimes that so I'm hired by the way. people in myntra who dramatically more. senior than me who had a lot more. experience right. um and it's worked out well and I by the. way I did the same thing in medlife and. I've done the same thing in Mensa I. think your point of having people who.

are better than you is true but I'm. saying first you have to test on whether. they're ready to go I love this uh like. this whole thing that where you ask them. three questions of your current problem. yeah and look at their approach that's a. brilliant way to do it and just get them. to write stuff right so that's one the. second. most important do ref checks. right and you know if I have a simple. rule in a ref check. if somebody doesn't say one negative. thing about the person I discovered.

yeah yeah everything works right I don't. get off the phone till I hear one thing. that the person has to do differently. from a development standpoint only then. you know you're getting a reasonable. rough check yeah otherwise it's a. superficial I never Outsource I do it. myself. right so second is do a Rapture right. third is I mean easier to do in a mental. like setup maybe harder for a very early. startup is have a panel.

have at least three people interview the. person. individually but three people and then. you and then you actually ask for their. opinions in an unbiased man and the. reason is sometimes you don't pick up on. things that others will pick up on and. vice versa so having three different. people talk to them even if you don't. have those three people in your company. right for the first few hires at Mensa I. had somebody one of my investors do it. right in addition to me so you know get.

three different perspectives on that. person that really helps. nice that's a it's a good one I'm. bothering you then yeah so show but. here's a here's another layer to that. this is what I used to tell me if it's. wrong because it relates to your second. Point yeah check one right you know so. any some every time like somebody refers. me to some person like some person like. hey you should hire this guy and it's. like really good I asked them let's say. if one year later we meet and things. didn't work out between him and me what. do you think would be the reason why I.

didn't work out no it's a great way to. ask the question. it's basically the what what are the. things to look out for in that person. right it's the second thing I told you. on the ref checks right exactly getting. something about the person I think it's. a great way to ask the question so like. I I just yeah it's a great way to ask. the question but I think you could get. to that level of detail right otherwise. superficially everybody looks good right. I mean nobody's gonna say oh I you know. I suck and this person is terrible. exactly you should hire them right yeah. okay let me ask you a hard question sure. you've had a great run tell me the three.

biggest mistakes you've made uh I think. the first. is probably. not taking risks earlier in life. right I mean waited for a long time to. sort of take risk okay I think that's. one thing that I would if I were to. change I would like to change right. second is sometimes not prioritizing. Health and Family. uh over success however you define it I. think I've gotten better now with age. but I didn't do it in the early days and.

I think that actually matters right you. end up like working your ass off and. yeah you look like the ones who are like. Workaholics no no come on. um no but I think that's the second I. would say. um. you know thing that I would say I think. Tom I would say these other two I think. these are the two yeah I think this. would be the two. that's a very good question no thank you. finally it's a good question we got one. question yeah it's a very good question. it's a very good question no no I don't. know it's a very good question one last.

question and then I'm gonna ask you one. more question because we asked that to. everybody okay okay so the last question. is so when you're hiring specifically. like when you're interviewing the senior. person right you're in awe yep for. example let's say you are not a Founder. I come to you and I want to pitch you my. startup and I want to hire you as a CEO. and like I'll be the oh like I won't be. able to command the I don't know the. like yeah yeah no I by the way. interestingly I've had that happen to me. right I've hired like board members who.

have been in oaf yeah right I've hired. like senior people who have been in. oauth yeah because you're you're. dreaming of that person to join you and. then 100 right I think no no the only. thing I do is see if you have a standard. method of how you're going to do the. interview then you know you have to get. through these three questions you know. you have to get them to do some work. that's why this method works because you. know then you don't let the emotions. emotions control you right so I think. you can you can tell them you're a no. other person I've done it many times. is actually you tell them you go to hey.

you know what I'm like yeah but we have. a standard person yes I say that right I. tell people right saying look I mean. this is like such a privilege to be able. to have this conversation with you but. you know we go through the same thing so. I hope you don't mind. it's good one to say actually it just. it's your bread butter sandwich. like you butter them up then you put a. bread then you put like the core. vegetables yeah yeah. nice nice man like just the one last. question I know it's gonna be very.

obvious answer for you but uh what do. you feel like is the. until the next big opportunity for India. like the best next billion dollar okay. so now I know that for you it's going to. be consumer business yeah but pick up a. category so where do you think that the. founders if they start solving problems. they look into a particular category you. think the billion dollar businesses can. be built. um. I think um I think there are billion.

dollar Brands waiting to be built in the. lifestyle category I think in Beauty. I would sort of go Beauty First fashion. second. food I think this billion dollar Branch. waiting to be built in food I would say. these are in the consumer side three. immediate opportunities that I think are. big. um if you don't build a billion dollar. business and here's the distinction for. me a billion dollar business is not a. billion dollars a valuation a billion. dollar business a billion dollars of. Revenue yeah right that's what we should. all aspire to do I think we should.

create a new term not like a unicorn but. we should build a term for a billion. dollar business that becomes sexy and. something that people aspire to do and I. think you can build multiple billion. dollar Revenue businesses over the next. 10 years profitcon yeah I love it right. I'm just saying we have to create one of. these where I think in any of these. three spaces you can build a billion. dollar Revenue business in 10 years yeah. know you can I I also believe the same. way because the same inside that 80. brands are yeah an organizer correct.

correct therefore you should be able to. write if you have a 120 billion dollar. market in this case that you're talking. about a 180 billion dollar market should. be able to build it yep yep yep that's. it thank you wonderful thanks for having. thanks for being here and actually. having this conversation with me yeah no. I really love it I think the time flew. by yeah I I didn't think of it yeah I. think it was like five six more. questions in my head I'm like oh I need. but I think we're short on time thanks. for doing that thank you so much for. watching this episode I'm really. grateful that you spent time to watch it.

till the end but now is the real time to. action now is the time that you share. with the people who you believe has. potential to build billion dollar. startups because you never know just. this one share that one conversation can. spark an idea in your head or in your. friend's head on your family or some. stranger's head. that can help them turn around their. lives completely so please make sure. that you like subscribe comment and. share it with as many people as you can.

because. one conversation is all it takes to. change your life thank you so much for. being a part of figuring out until the. next episode keep figuring out.

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