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Badal_Cloud : Which are the top traits of successful entrepreneurs? Also which are traits that are inherent and which ones can be attained?
Anil Thomas

Anil Thomas

One of the top traits is the ability to take risks. Taking risk does not mean that you got to say yes to every opportunity to take risk. Infact your success as an entrepreneur depends on your ability to say no and not as much on your ability to say yes to every opportunity. The second trait of successful entrepreneurs is the ability to anticipate and manage change The third is the ability to articulate and persuade. These traits if not inherent, can be accquired with right associations and increased awareness.
nikitap18 :As the topic suggest, what do you mean by the term Platform & Aggregators?
Jappreet Sethi

Jappreet Sethi

It`s a very broad question. When we use terms `platform and aggregators` we mean online companies which have provided an online platform for small and medium-sized retailers to use the platform to sell their products and services. Flipkart, Snapdeal, and Amazon are prime examples of a platform. Examples of aggregators are OLA and Uber in India.
Badal_Cloud :What is your advice to startup founders like me in order to maintain a good leadership quality, and since we are startup how do we manage our work pressure?
Anil Thomas

Anil Thomas

Your ability to build a business is largely dependent on your ability to be resourceful. At a the start-up stage you have limited resources and many a times Entrepreneurs tend to justify the lack of growth and momentum due to lack of resources. My advice to you would be to create an enviroment of resourcefulness.
santosh.janvi :Who according to you are the best government platform & aggregators available in India for my small business
Jappreet Sethi

Jappreet Sethi

On the government front, I don`t belive the Indian government has famous platforms or aggregators apart from IRCTC which is running an e-commerce platform. So, yes, that could be the best government run platform for your small business if you are in the business of selling consumer goods. There is a new platform for startups being developed as a part of the Startup India program for listing recognized facilitators for helping startups. Check this site http://startupindia.gov.in/
desperado1988 :With the big players already fighting for the market share in the Indian Market, how easy or difficult is to consolidate ones` position?
Jappreet Sethi

Jappreet Sethi

I think if one wants to setup an e-commerce store/website in India today, the biggest challenge that it would face is the competition. Companies like Flipkart, Snapdeal, and Amazon, have become colossal and can kill competition quickly. Having said that, I think there could be space for niche e-commerce websites in India. I think because of that reason companies like Myntra and Jabong could do what they have done when it comes to fashion and pepppertap, and urban ladder could do in furniture. If you could find a niche space, I think there are enormous opportunities in India. I am yet to see a service industry based e-commerce website do well in India considering we are a service providing nation. So, there may well be an opportunity for you there.
guest :There?s a lot of news buzzing about GST these days, what will the effect of GST on small entrepreneurs/ startups like us
Jappreet Sethi

Jappreet Sethi

This is a very good move by the government, it will make work and taxation easier for smaller players. Because of simplified tax regime, you will have more time on hand to focus on customers and building your brand.
guest :What is the biggest challenge for setting up an E-commerce store in India
Jappreet Sethi

Jappreet Sethi

The biggest challenge is to identify and build a niche category that can help you scale without attracting big dollars from biggies to kill you.
guest : Do you think marketplace model works in India?
Jappreet Sethi

Jappreet Sethi

In my view, marketplace model is best suited for India because of the presence of so many small businesses in the country. For one, it does not steal the trade opportunities of small businesses in India. This is crucial for a country like ours. Also, the marketplace model has advantages like better inventory management and larger inventory. Also, the marketplace model is a very lean way of conducting business as the operational costs are much lower than an inventory based model.
guest : Are we going to see next Flipkart or Snapdeal in Indian Ecommerce market?
Jappreet Sethi

Jappreet Sethi

You never know, Google was the last search engine. India and China are known for springing surprises. Both these companies have set up the market and mindset, someone can now come in and build up on that. Amazon just did that.
ankit-1111 :What strategy would you suggest for a bootstrapped startup to better some traction in this sector so as to grow enough to get to funding round?
Jappreet Sethi

Jappreet Sethi

Firstly one need to find a niche segment. Secondly, the startup should invest its resources to create an inventory of articles, FAQs and other relevant content on the chosen segment. Content marketing is something hard to build and consolidate, but it is most efficient and cost effective medium to maintain your brand.

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Manish Kumar

Manish Kumar

Co-founder
REALX, GREX, iVentures

Mar,27,2017 - 12.00 PM

Building a truly competitive company

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