Interview with Founders of GoVasool.com

Oct. 12, 2009 - PRLog -- Q:How did you start your business? What made you to think to enter into a business?

Aditya: I saw that there was a lot of value that we could add to a consumer by launching GoVasool and that was the biggest reason to do this. Apart from this, there is a lot of opportunity and satisfaction to contribute and make a difference as an entrepreneur. This is what inspired me to quit my job and start on my own.
Srikanth: Starting a business was always part of the plan since the last 10 years. I chose to work at reputed organizations that would give me the breadth of experience needed to someday start my own enterprise in India. Consumer Service sector in India today is in a nascent stage and hence is filled with painpoints and inefficiencies which we believe can be mitigated with the use of technology and thus expand the sector. Personally, I have been inspired by the previous generation of entrepreneurs and strongly believe that they have passed on the baton of inspiration to us. So, here I am trying to do my bit to run with the baton and do what we should be doing.

Q: Tell us in detail about your business, your idea and how it can benefit others?
On GoVasool.com, you will find the best, biggest & the most popular stores of you city selling your favourite products. You can compare prices across these stores, read user reviews, watch product demos & and can buy the product in a few clicks from the store offering the best deal. In addition to this standard “Buy It Now” option, GoVasool.com also gives you the option to start a reverse auction or a “Group” on any product that you are looking to buy. In this option, popular stores compete with each other and bid prices down for you. Also, other people looking to buy similar products start joining you so that all of you together can enjoy Bulk discounts from a vendor at the end of the reverse auction! Hence with GoVasool.com, you don’t have to haggle with multiple shopkeepers to save money – they will compete against each other to get you the best deal and save money.

Q:What are the important things which differentiate your business from other? What is your USP?
Today, when one wants to buy any product (say a TV or a Mobile or a Laptop), one can never be sure if one did indeed get the right deal on the product. With so many stores – each claiming to offer the best discounts, there is a thick clutter in the market and it’s never easy to know if you did indeed utilize the best discounts that stores in your city have to offer! Plus, it can be disappointing to realize later that a friend of yours was able to bargain and get a better price than you because he/she was a better negotiator. – This is where GoVasool steps in. We make the entire buying process smooth for you and ensure that you have peace of mind even in complex purchases. Plus, we are always there for post-sale support and ensure that you get proper help & support on your product – which typically is not supported by many stores.

Q: What is your revenue or business model?
Anyone who is buying a product in any of the categories on our marketplace is our potential customer because we add value to her/him that is otherwise not available through any other source! Our target is NOT the narrow intersection of Internet users & those shoppers who have credit cards and are comfortable using them online – we believe that GoVasool.com is a must have service that anyone who wants to shop will need to use. We are convenient, informative & accessible from everywhere. We offer innovative payment options and nowhere else will an individual consumer get access to bulk discounts!

Q:What are your expansion plans and where do you see your business 5 years down the line?
Given that our service is aimed at being a ubiquitous shopping utility for all Indians, we will be expanding to newer geographies as and when we see the time is right for us. Over the next few years, we will be serving most cities in India and serving a larger range of customer needs.

Q:What were the biggest challenge(s) you faced in your journey as entrepreneur till now?
Aditya: As we started on our journey of building this company, a big test of our concept was when we were selling it to our vendor partners to sign up with GoVasool.com. Before we approached vendors to sign up and list their products with us, we invested a lot of time understanding the vendor’s business and were able to clearly draw out the value add to them. Our dedication and persistence paid off and today, we have some of the largest & most popular stores of Bangalore listed with us.
Srikanth: As we started out on our journey, one of the key challenges we faced was in finding the right team members who are passionate about the business and have the risk appetite to work with startups. Working with startups can provide one with the best learning curve in whichever function one chooses to start contributing to. What is required though is an overdose of passion and commitment to ride along the curve. Finding folks with a good mix of aptitude and attitude was definitely a challenge we faced initially.

Q:What is the biggest mistake you made as an amateur entrepreneur?
Aditya: Finding people who are equally passionate and committed to the idea to join us is a big challenge for us as a start-up. And given that we are a small company, ensuring that the value systems of each member in the team match is a very critical. In this area, we learned along the way where we committed a few initial errors in hiring the wrong people – we realized later that there was a mismatch in our values and work ethics and so we had to take the hard decision of letting people go. We have now become even more rigorous in our entire selection process and spend a lot of time before we recruit anyone into the team. Over the next few months, building a strong leadership team will be critical for us.
Srikanth: We made mistakes, learned along the way, hired the wrong people, and then had to let them go, and spent money in the process. So, we have now become even more rigorous in our entire selection process and spend a lot of time analyzing the “culture-fit” before we recruit anyone into the team.

Q: What you want to say to the new entrepreneurs or the one who wants to start his/her own business?
Aditya: Entrepreneurship cannot be taught and explained. It has to be experienced and each one of us will have to chart our own path. Hence, my only suggestion to other budding entrepreneurs would be to jump in and learn to swim! It’s a fantastic experience and it is important to enjoy being an entrepreneur. There is nothing like being able to pursue your dream. I can promise that the learning would be immense in this journey!
Srikanth: Entrepreneurship is like life. You have to make choices. And once you make your choice, your survival instinct kicks in and you will learn everything you need to learn. Most people have a larger risk appetite than they know or were convinced about.

Q: Who is your business idol and why?
Aditya :I have no single idol. There are a number of people I look up to – some of them for the values that they upheld through their lives and some for the quantum of value they have been able to create for the consumers. Some such people are Mahatma Gandhi for his dedication to a cause; Narayana Murthy for creating a value based organization that is so successful and Sam Walton for creating the world’s largest company.
Srikanth: It is very hard to identify one person as an idol. I idolize the strength, conviction and vision of some personalities who, I believe, will always inspire future generations – Gandhi’s large scale inspiration of Indians towards the Swaraj Movement, Sam Walton’s ability to pick himself up after the Ben Franklin Store failure and build Wal- Mart, or Dr. Verghese Kurien’s vision and implementation of the White Revolution

Source: http://webneetech.com/2009/10/01/interview-with-founders-...