Cefinsights-june-magazine

JUNE-2023

Editorial Unlocking Entrepreneurial Excellence: Inspiring Stories, Expert Advice, and Cutting-Edge Strategies In the boundless realm of entrepreneurship, Let’s take a journey to look at those where dreams are ignited and fortunes are historical timelines. As we delve into the forged, lies a tapestry woven with the stories fascinating world of new startups, we of audacity, perseverance, and unwavering bear witness to the birth of belief. It is here, within the pages of our groundbreaking ideas and disruptive editorial section, that we embark on a innovations that have the potential to profound exploration of the human spirit and reshape industries and revolutionize lives. its limitless potential to create, innovate, and These bold enterprises, driven by transform. visionary leaders, emerge from the crucible of imagination and hard work, Journey with us as we unveil the narratives of visionary trailblazers who dared to challenge Through our editorial lens, we uncover the status quo and carve their own paths the intricacies of their business models, amidst uncertainty. These entrepreneurial the brilliance of their strategies, and the pioneers embody the essence of resilience, indomitable spirit that propels them confronting setbacks with unwavering forward. Whether it be a tech startup determination and transforming adversity revolutionizing the way we connect, a into opportunity. social enterprise tackling pressing global challenges Through their stories, we uncover the Join us on this exhilarating voyage as we intricacies of their journeys—the sleepless navigate the ever-changing currents of the nights, the relentless pursuit of knowledge, entrepreneurial ecosystem, guided by the and the sacrifices made along the way. Their stories of those who have navigated tales of triumph are not merely tales of uncharted waters and emerged triumphant success, but testaments to the power of to shape a brighter future for us all. tenacity, grit, and unwavering dedication

CEF INSIGHTS MAGAZINES Publisher Senthil kumar Chief Editor Akash Chandra Managing editor Arya Mukkirwar Srushti Kamdi Editorial Staff Manasvi Dhagat Mohd Saad Khan Copyright © 2023 Cef Insights Magazines. All rights reserved. Reproduction of the content in any form without the written permission of the publisher is strictly prohibited. Cef Insights Magazines assumes no liability or responsibility for any inaccurate, delayed, or incomplete information, nor any actions taken in reliance thereon. The publisher assumes no responsibility for unsolicited manuscripts, photographs, or illustrations. The authors who have submitted articles/interviews to the respective staff of Cef Insight Magazines have provided the byline published on their articles. Cef Insight Magazines did not verify any of that information. T

CONTENTS 06 Empowering Traditions : Poonam and Aakriti Rawal's Journey with House of Chikankari 08 COVER STORY Licksters: Redefining the Popsicle Industry with Real Fruit and Remarkable Success 12 Vijay Shekhar Sharma: The Visionary Behind Paytm's Spectacular Success

14 Know the man behind Desi' Dukaan app' 16 Ariro : This husband -wife duo's toy startup aids child development during the formative years 18 Bhupinder Madaan:His journey from selling pamphlets to owning a successful coffee brand, Theka Coffee

EMPOWERING TRADITIONS : POONAM AND AAKRITI RAWAL'S JOURNEY WITH HOUSE OF CHIKANKARI Over the past 12-15 months, the journey of Poonam and Aakriti Rawal, the mother and daughter duo behind House of Chikankari, has been nothing short of extraordinary. As entrepreneurs, they have faced and conquered numerous challenges while staying true to their vision of reviving and promoting the traditional art form of Chikankari, making it accessible to younger generations. In the face of adversity, Poonam and Aakriti demonstrated exceptional resilience and unwavering dedication. They effectively managed their cash flow, making careful spending decisions and negotiating favorable terms with suppliers and vendors. Embracing the digital era, they digitized their operations and harnessed the power of social media to engage with their customers on a deeper level. Their leadership approach has been commendable, as they believe in not only running a successful business but also fostering a community of individual leaders within their organization. Inspired by Indra Nooyi, they continuously seek growth, expand their knowledge, and approach their work with a fresh perspective. 064

just because you are CEO, don't think you have landed. You must continually increase your learning, the way you think, and the way you approach the organisation. In terms of revenue targets, Poonam and Steering towards the future, Poonam Aakriti surpassed their own expectations, achieving an astounding 600% growth and Aakriti Rawal are determined to compared to the previous year. Their unwavering commitment to quality, and enhance their brand's efficiency by customer satisfaction, and their ability to adapt and innovate have played pivotal streamlining online and offline roles in their remarkable success. To fuel their future aspirations, Poonam operations. Their strategic vision includes and Aakriti secured funding through their appearance on Shark Tank Season expanding their e-commerce footprint, 2. They raised Rs 75 lakh at a valuation of Rs 20 crore, forming strategic capturing greater market visibility, and partnerships with forward-thinking investors Aman Gupta and Peyush introducing an array of diverse product Bansal. This funding will propel House of Chikankari towards new horizons and offerings. With an unwavering focus on open doors to exciting opportunities. Chikankari kurtas for women and an From the early stages of their journey, Poonam and Aakriti faced unique ambitious expansion into menswear, challenges in an unorganized industry where standardization and awareness they aspire to captivate a broader were lacking. However, they transformed these obstacles into opportunities, audience while upholding their taking it upon themselves to educate customers about the intricacies and unwavering commitment to beauty of Chikankari. By making this traditional art form relevant and uncompromising quality and appealing to a modern audience, they have made significant strides in creating unparalleled customer satisfaction. As awareness and appreciation. trendsetters in the industry, their pursuit of excellence continues to redefine the realm of Chikankari fashion. 07

Dhivya S

As India's first brand of premium popsicles and ice creams, Licksters caters to ice cream enthusiasts seeking superior flavors and authentic taste. Their extensive product line includes an array of options such as popsicles, ice creams, pop it shakes, swirl it hot chocolates, waffle pops, and fruity cold brew coffees. Their vision is to become India's top premium ice cream brand. They were also featured in Shark tank India 09

For generations, popsicles have been Over time, Licksters developed a sugary, artificial treats with little range of six to seven flavors, gradually nutritional value. However, Licksters expanding to include milk-free and has revolutionized the industry by gluten-free vegan options that introducing popsicles and ice creams resembled fruits while remaining made with 100 percent real fruits, entirely natural and chemical-free. adding a positive twist to these beloved treats. With a strong focus on Licksters offers a diverse range of boosting the nutritional content, products, including fruit pops, ice Licksters offers an innovative range of cream pops, Greek yogurt pops, and premium popsicles and ice creams, innovative creations like ooey gooey free from artificial colors or flavors. center pops, fruit fusion, ice cream tubs, pop it shakes, and fruity cold Founded in 2019, Licksters is a unique brew coffees. During winter, they also ice cream brand based in Nagpur. introduce delightful options such as With an impressive 80 percent fruit Waffle Pops and the Swirl It Hot concentration and a selection of Chocolate range. Handling a higher vegan and gluten-free fruit pops, the concentration of fruit products company aims to become a requires meticulous care, ensuring household name synonymous with the fruits are adequately matured popsicles. before processing. Each fruit has its own processing method, perfected The idea for Licksters was born during through extensive research to achieve an emotional training program the desired taste and texture. challenge, where founders Dhivya and Parimal Kalikar had to avoid sugar, 10 dairy, and processed foods. Opting for fruit as a dessert, they fell in love with its taste and texture. However, their disappointment with traditional ice cream, which contained minimal fruit and artificial flavors, sparked the idea to create popsicles with higher fruit concentration.

\" Licksters is a unique ice cream brand based in Nagpur. With an impressive 80 percent fruit concentration and a selection of vegan and gluten-free fruit pops \" Licksters values customer feedback and continuously strives for improvement. They have implemented a robust feedback system through platforms like Zomato, Google, text messages, and phone calls. By studying various cities, they enhance the quality, flavor, and texture of their products, driving innovation. From humble beginnings with a 250- square-foot production space, Licksters has grown to over 3,500 square feet, with plans to expand further to 18,000 square feet. Their production quality is thriving, and Licksters is already available in Nagpur, Nashik, Raipur, Bhilai, Vadodara, with plans to open in Delhi, Pune, and Indore. In the next five years, the company aims to establish over 250 stores across India and other countries. Licksters' dedication to using real fruit and their commitment to innovation position them as leaders in transforming the popsicle industry. 11

In the fast-paced world of Indian startups, few stories have captivated the imagination quite like that of Paytm and its ingenious CEO, Vijay Shekhar Sharma. Paytm, a trailblazer in the e-wallet ecosystem, has reshaped digital payments and financial services in India. At the helm of this groundbreaking enterprise stands Vijay Shekhar Sharma, whose relentless determination and innovative thinking have propelled Paytm to unprecedented heights. Let's explore the exceptional qualities that Vijay Shekhar Sharma possessed, which played a pivotal role in Paytm's meteoric rise Unyielding Vision: Right from the outset, Vijay Shekhar Sharma exhibited an unwavering vision of transforming India's digital payment landscape. He recognized the immense potential of electronic wallets and foresaw a future where cashless transactions would redefine convenience and accessibility for millions. Strong Leadership: As the driving force behind Paytm, Vijay Shekhar Sharma exhibited exceptional leadership qualities. He nurtured a culture of innovation, collaboration, and excellence within the organization, attracting top talent and inspiring his team to achieve remarkable results. 12

\"If you don't give yourself a chance, who will? If you don't take a chance, who will? And I think you should take a chance on you.\" Entrepreneurial Spirit: Keen Eye for Innovation: Vijay Shekhar Sharma's entrepreneurial Vijay Shekhar Sharma's visionary spirit burned brightly within him. He approach and knack for innovation were possessed an inherent drive to create crucial to Paytm's success. Constantly something revolutionary, something seeking new ideas and technologies, that would have a lasting impact on Paytm remained at the forefront of the society. This inherent fire pushed him to industry, delivering enhanced user take risks, challenge norms, and experiences and streamlined financial embrace uncertainty. transactions. Customer-Centric Approach: Vijay Shekhar Sharma understood the importance of putting the customer at the center of everything. He recognized that user experience and convenience were paramount to the widespread adoption of digital payments. Paytm's Resilience in the Face of Adversity: user-friendly interface, seamless Every successful entrepreneur transaction process, and commitment to encounters obstacles along their customer satisfaction set it apart from journey, and Vijay Shekhar Sharma was competitors. no exception. He faced numerous challenges, including intense Conclusion: Vijay Shekhar Sharma's exceptional competition, regulatory hurdles, and qualities and leadership have propelled Paytm to unparalleled success, inspiring skepticism from industry experts. entrepreneurs with the power of determination and industry-shaping However, his unwavering resolve and innovation. resilience enabled him to overcome these obstacles and forge ahead with confidence. 13

Know the man behind Desi 'Dukaan app' Suumit Shah, now renowned as the founder of Dukkan, was born on December 25, 1990, into a middle-class family in Mumbai. His journey was a blend of highs and lows. Following his schooling, Suumit found employment at his uncle's shop in the serene town of Satara, Maharashtra. He pursued an engineering degree in Sangli and exhibited his aptitude for learning by acquiring skills in digital marketing, web designing, and development through online courses facilitated by one of his college roommates. Armed with his newfound knowledge, Suumit embarked on a professional journey, working with notable corporations such s McDonald's and Cred. However, his entrepreneurial spirit yearned for more, leading him to establish his own venture called Risemetric in 2014, alongside his friend and CTO, Subhash Choudhary, who, despite being a college dropout, possessed an innate passion for technology. Together, they embarked on a path of innovation and growth, laying the foundation for their future success in the business world. In 2014, Suumit, the founder of Dukaan, crossed paths with Subhash Choudhary through a fortuitous encounter on Facebook. Hailing from a small town in Bihar, Subhash had faced the early loss of his father at the tender age of 3. Despite this adversity, Suumit managed to pursue his education until the age of 17. Determined to carve a path for himself, he ventured to Mumbai in search of employment. 14

\"People in the west don't realise their privilege.\" Suumit's passion for technology led him to During his computer course, Suumit formed enroll in a computer hardware and a fortuitous friendship with Subhash, fueled networking course, where his talent quickly by their shared passion for digital marketing. garnered attention. He was soon recruited by Nurturing their bond, they decided to a multinational corporation in Mumbai, where translate their collective skills into a his skills found a suitable platform for growth. partnership, giving birth to the marketing agency known as Risemetric, as previously During his computer course, Suumit and mentioned. Witnessing success in their Subhash discovered their shared enthusiasm agency endeavors, the duo set their sights on for digital marketing, forging a deep a new venture. friendship that eventually evolved into a In May 2020, their joint efforts materialized fruitful partnership. Building upon their collective expertise, they established a in the launch of the groundbreaking Dukaan marketing agency named Risemetric, as App. Dukaan quickly distinguished itself mentioned earlier. As the agency thrived, their through its innovative approach and swiftly ambitions soared even higher. emerged as a resounding success, establishing its position as a \"successful In May 2020, their collective efforts startup\" in a remarkably short span of time. culminated in the launch of the groundbreaking Dukaan App. Dukaan swiftly He achieved remarkable success in 2020, gained recognition for its innovative approach coinciding with the nationwide lockdown and rapidly emerged as a resounding success imposed across the country. Today, the in the realm of startups, capturing the Dukaan app boasts an impressive count of attention and admiration of many. over 2 million stores and offers a diverse range of 7 million products spanning 40 In 2014, Suumit, the founder of Dukaan, different business categories. With a crossed paths with Subhash Choudhary presence in over 400 cities, the app has through an encounter facilitated by Facebook. facilitated more than 75,000 orders. In Suumit's natural affinity for technology led essence, Dukaan is empowering India's small him to enroll in a computer hardware and businesses, enabling them to establish an networking course, where his exceptional online presence and embodying the true talent swiftly garnered recognition spirit of \"Digital India.\" 15

THIS HUSBAND-WIFE DUO’S TOY STARTUP AIDS CHILD DEVELOPMENT DURING THE FORMATIVE YEARS Ariro came into existence alongside the birth of Simultaneously, Nisha recognized that their own baby girl. As co-founders, Nisha, a small-scale toy manufacturers and artisans Montessori teacher, and Vasanth, an often lacked the understanding and entrepreneur, welcomed their daughter in 2016. analysis necessary to cater to children's Fueled by their desire to provide her with a needs effectively. nurturing Montessori environment for optimal development, they embarked on a journey. To bridge this gap, she collaborated with them, providing clear explanations of the Their quest for wooden teethers began when desired products and working closely to they discovered the limited options available in refine the samples until they achieved the market, primarily comprised of imported perfection. The designs themselves were products. Determined to find a solution, they took conceptualized by Nisha and a team of matters into their own hands and collaborated Montessori teachers, who took into with a skilled carpenter to create their own account children's sensitivity and physical teethers using Neem wood. The positive development, ensuring that even a four- reception from friends who were parents led to a month-old could comfortably interact realization: this concept had captured their with the toys admiration, prompting requests for more teethers for their own little ones. Ariro's product range includes an array of items such as pikler triangles, learning During their visit to a toy expo in China, the towers, puzzles, rattles, teethers, sliders, founders of Ariro were exposed to the innovative step stools, and indoor gym accessories, solutions presented by leading toy companies, with prices ranging from Rs 200 to Rs leading them to observe that India had 19,000. Initially funded with an investment considerable ground to cover in the toy market. of Rs 1 to 2 lakh, the company is projected Upon returning to India, they embarked on a to generate revenue close to Rs 2.5 crore search for toy manufacturers and soon discovered by the end of the current financial year. the immense talent and capabilities of artisan clusters. 16

Operating on both B2B and B2C models, Ariro's Dedicated to thorough research and finding products are available on nearly 20 platforms, the right product-market fit, Nisha and including popular online marketplaces like Vasanth dedicated two years to sampling, Amazon and Flipkart. While the COVID-19 studying market trends, and gathering pandemic has temporarily halted B2B feedback. They embarked on journeys to various countries, including showcasing operations due to the closure of local Montessori their products at the China Toy Expo, continuously refining their approach based schools, the company has experienced an on valuable input. increase in online orders during the lockdown as parents seek engaging activities for their Fortunately, the positive responses they children at home. Looking ahead, Ariro plans to received during their primary research launch an experience store in Chennai in provided the validation and confidence November, marking its entry into the brick-and- needed to pursue their idea as a viable mortar retail model. The company is also business. However, the couple made it clear actively seeking funding opportunities to that had their research yielded negative support its future growth and expansion. feedback, they would have reconsidered their plan. Nisha and Vasanth enlisted the help of a skilled carpenter to bring their teether designs to life, Bootstrapping their venture, Nisha and utilizing Neem wood as the ideal raw material Vasanth independently operated Ariro Toys due to its natural anti-fungal and anti-bacterial until they recently secured funding through properties, ensuring the safety of toddlers who the Shark Tank India platform, marking a tend to explore objects with their mouths. new phase in their entrepreneurial journey. Impressed by the products they had created, Nisha and Vasanth shared them with friends ``We were clear about one thing. We’ll only and family, receiving enthusiastic requests for proceed with the business after thorough similar toys. research and market sizing. , share the couple. 17

His journey from selling pamphlets to owning a successful coffee brand, Theka Coffee Back in 2017, the coffee culture in India was flourishing, albeit mainly catering to the affluent population. This left the middle-class yearning for a taste of the experience but feeling excluded by the high prices charged by premium brands like Starbucks. Bhupinder Madaan, a young and enterprising entrepreneur, recognized this gap in the market during a visit to a bar in Delhi and wasted no time in taking action. With the launch of Theka Coffee, Bhupinder aimed to democratize the specialty coffee scene, ensuring that everyone could indulge in unique experiences. He kickstarted the venture with creatively named offerings like Palang Tod and Coffee ki Jawani, packaged in beer bottles. The exceptional quality of 100% Arabica coffee beans and the implementation of distinctive roasting methods quickly won over millennials, establishing Theka as a resounding success. Today, Theka boasts an impressive network of over 55 franchises spread across various locations in India. Bhupinder's compelling pitch for Theka Coffee even earned him a coveted spot on Shark Tank India, attracting significant attention, although funding eluded him on the show. However, this exposure proved to be a turning point as renowned brands like Microsoft and Reliance approached Bhupinder with partnership offers. Thanks to its growing reputation, Theka has now become a popular destination for coffee enthusiasts, serving as a go-to hangout spot for those seeking exceptional coffee experiences. 18

\"HOME GROWN WITH PRIDE\" The inspiration behind my venture stems Fundamentally, the inspiration behind my from my past experiences and the lessons I venture was to inject a sense of excitement learned along the way. Although I had been into the coffee-drinking experience. involved in various businesses within the food Traditional coffee options often lack variety industry, I encountered challenges when it and fail to capture the essence of Indian came to scaling them up. This realization flavors. Most cafes offer a standard menu became a driving force for me, motivating me featuring cappuccinos and lattes, lacking any to create a brand with the potential for unique Indian touch. significant growth. Even local coffee chains serve their coffee in Another source of inspiration emerged during glasses that I personally find unappealing to a moment of reflection while enjoying a beer hold. Thus, the true inspiration behind my at a place called SOCIAL. I noticed a fellow venture was to transform coffee consumption patron sitting next to me, sipping on a coffee into a cool and enjoyable habit, allowing served in a lackluster and unappealing glass. people to relish the experience of holding The stark contrast between my enjoyable their chosen drink. beer experience and their uninspiring coffee prompted me to think differently. I thought, Additionally, we aimed to revolutionize the why not present cold coffees in a unique and ordering process, injecting humor and joy exciting manner, akin to holding a beer into the act of placing an order. Ordering a bottle? Personally, I found the act of holding Palang Tod, for instance, evokes laughter and the beer bottle more enjoyable than actually adds a refreshing change to the entire coffee drinking from it. This realization sparked the industry idea of serving cold coffees in beer bottles, combining the fun factor of the packaging \"I think it’s just very simple. Never give up. with the refreshing taste of coffee That’s what I always say. But you should also not be foolish that if you’re doing something Driven by my pursuit of perfection, I bad, and the product is really not that great, meticulously developed the product and accept your defeat. But then, if you know that ensured that it was served in an appealing you have put your hard work into it, please way. Initially, my intention was simply to sell don’t give up. That’s it. Just something works any kind of coffee. However, as I delved out for you. It’s like something will happen, deeper into the coffee industry, I recognized a and things just work in your favor if you have significant gap between premix or powdered not given up.\" he said. coffee and freshly brewed coffee. 19

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