Rishi Naik

Rishi Naik

Elevate IELTS

“I never thought I would become an entrepreneur. However, I used to be involved in creative activities since my childhood, so I think this helped me a lot to drive through this journey.In my view, entrepreneurship begins with finding a real problem and finding a gap in the market. And the same thing happened to me, I was using Boat Wireless Bluetooth Airdopes, and I tried to find a protective and easy-to-carry cover for the product. I didn't find any on the local market as well as online platforms. So, I felt there was a huge potential in this product. Thus, at this point, I began thinking about entrepreneurship.As my entire family belongs to agriculture, I had to start from scratch as I had no idea of how to operate a business. So, firstly I did market research and found some interesting data regarding the actual demand for the product. Once I realized that there is a massive demand and no competition in the market, I designed the product and found the respective suppliers of raw materials.I had started with a single model and a little investment of just a few thousand rupees. I got an outstanding response from the market just after launching the product, and we expanded our product catalogue. Although the company is just in its initial phase, I can see a massive opportunity ahead.The Biggest challenge was market uncertainty as models keep changing very fast. So, investment in developing manufacturing facilities and tools may become risky; hence I decided to outsource and find a contract manufacturer. After wondering a lot, I created a successful supply chain without investing a large amount (fly light strategy). So, doing a startup with very few resources was challenging, and I overcame it by developing an innovative and sustainable supply chain. Deep thinking has to go sideways as it can increase the complexity of the idea or enhance creativity. So, It is our choice how to navigate our thinking process."

State : Delhi

Gender : Male

Sector : Consulting

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