Phani N Raj, founder of Zaggle Prepaid Ocean Services
Founded in: June 2011
What is Zaggle all about?
It is an online gifting service where in zaggle gift card recipients can use the website to shop from a spectrum of 50 odd brands across all metroes and tier II and tier III cities. This includes big stores like pantaloon, hypercity and Big bazaar, Lifestyle, Fab India, Shoppers Stop, Croma and Westside. Their gifting vouchers also extend to shoe shops, kids stores bookstores and restaurants in their bouquet.
You are entrepreneur because...?
Straight to the point- did not like any of the bosses I worked for. Thought I had much more to offer and that could get work executed much better. The ideas brimming within me, the creative energy and the unbridled passion had to be channelized somewhere and what better than entrepreneurship!
Your most critical moment while starting out?
I ran out of cash and had to decide whether I should continue the business or close down.
Did you goof up?
With no set precedents, acting and learning merged into one.
Along the way, there were quite a few fronts at which we have bettered our efficiency at recruitment, identifying the product construct, better estimation of the efforts involved leading to attainable project timelines.
Did you really cut it fine at some point?
Yes, there was once a situation when the payroll was just round the corner, and no cash in the bank! But from quite an unexpected corner we received a cheque just in the nick of time.
The quote that has stayed in your mind:
"Execution is everything"
What did I learn?
- Planning versus Execution- Execution wins
- Strategy versus Market- Market wins
Comments on your journey...
Loved the ups and downs of life with every moment being special. I wouldn't change any bit of it. "Entrepreneurship Zindabad!"
About the founder:
Phani N Raj, a management graduate (USA) has worked with PricewaterhouseCoopers in Chicago before moving to India and starting eYantra 10 years ago. He founded Zaggle a year ago as part the eYantra group of companies.