eBazar Ninja is one of the rapidly growing e-commerce platforms in India. Thugstart catches up with Ankit Jain to understand his amazing journey from a startup rookie to a ‘high risk high return’ hustler. Ankit is all set to make EBazar Ninja as one of the household names for e-commerce shopping destination.
How did you start out as an entrepreneur?
I will have to jump a decade back to answer that question because that is when I embarked upon my journey as an entrepreneur. I was introduced to the marketing sector during my first job at a young age of 16 years. Catching up on my zeal, I decided to venture into my own business and since then I have never looked back.
Tell us something about your venture?
Ebazar.ninja is an e-commerce enterprise. We started out with 3 co-founders last year in july 2015. At present, we are a 40-50 member strong team and have been expanding exponentially. The USP of our enterprise is that we have focused on process innovation and not product innovation. Recognizing that the virtual customer base is expanding and the big shots of the market are experiencing dis-economies of scale, our firm tries to simplify the purchase process for our customers and make experience a comfortable one. To put it other way, we want our first time customers to become life time customers by providing them fine services throughout the engagement.
What were your initial challenges while starting out? Milestones of the journey in terms of challenges, opportunities and threats.
Entrepreneurship implies challenges. Since I was a marketing expert, there were hundreds of new things and problems that I encountered everyday. However, speaking broadly, the primary challenge was ofcourse technology. We decided to have an in-house software for cost reduction as well as data security purposes. At present, our firm has achieved this objective. Trust me minor changes are a part and parcel of this process. Next challenge was recruitment of competitive personnel. We did not want out employee attrition rate to be high. At ebazar, we therefore, choose to work like a family. Cautious efforts are made to make our people feel home. Another challenge was reducing the cost of marketing campaigns while raising the conversion rate. Here, my decade long experience in marketing was a great help. The list is long but the next most important challenge was product selection. For a self funded company like Ebazar, it is extremely important to be wise with campaign management and choose the products for the same.
How do you see the future of your already successful business?
Well, the future of this enterprise rests on the future of e-commerce industry which is absolutely bright. The people are inclined towards this mode of purchase, the government is extremely encouraging (start up India scheme) and our team is extremely professional. So I have high hopes, rest is destiny.
Have the failures helped you? If so, in what way?
A cliched but true answer will be yes, yes and absolutely yes. Failures help you to move out of your comfort zone and that is where real life begins. Failures can be encountered anywhere. There are times when we choose wrong products to run our marketing campaigns. That is a failure. We choose wrong people at wrong position. That is a failure. So for me not able to optimize on resources counts as a failure but that translates into an experience and we are wiser and better learned.
Where do you see this new startup revolution headed in the next five years?
Booming. That’s the only word I have for this industry. Although, I would be a bit worried of this translated into another dot com bubble.
Any role models? Why? What are the prime learnings?
I prefer to learn from ideas and their sources are varied.
How does your typical day as an entrepreneur look? (list out even healthy morning and evening habits)
I get up early by 6. Have my breakfast which I prefer to keep light and healthy. Then I proceed for work. There is no routine as I overlook multiple processes at the same time in one day. Some days, it may be a pep talk to my employees that may consume most of my time and some other days it may be operations. After I am done with my working hours which happens quite late, I sleep as it is important for me to have an 8 hour long break to function properly.
What according to you is the real meaning of success?
Being able to follow your dreams.
I'm a self confessed foodie, king of the kitchen, wannabe anthropologist, technology evangelist , curious, inquisitive & experimental entrepreneur at @DigiLands and an adrenaline junkie. Love spending time with my wife & two young children and faulty KitKats that consist purely of solid chocolate.