5 ways in which I turned my company into a Rs. 30 crore one
Its been 6.5 years since I founded my first company www.masterstrokes.in . When I look back upon my business journey, yes a journey from 5000 Rupees to the present situation, I have seen many highs and lows, positive appreciation and negative remarks but nothing could affect my determination, calmness, resolution and free will to go forward. Every second of my life has told me to go forward, no matter what advance! I have followed my truthfulness and intuition and went to on to acquire a 40 year old INS certified company (Union Advertising) in 4 years and founded my own E Business www.khaugalideals.com in 2012, both of them are now spread Pan India.
- Remember your Ideas and Re establish them in your business!
As a 22 year old girl who was about to jump into the vast ocean of marketing and advertising which is somewhat a male dominated industry was really a challenge. Let me tell you I am not a typical ultra feminist kind of person who oppose everything that men do in any field, but I accept the challenges as the truth and always keep myself prepared for adverse situations. I have realized from a very young age that I should work for myself and plan everything in my life according to it. As a student of fine arts, I nurtured my creative side of mind to the extend of imagining new ideas and its present day applicability. I used to draw random ideas in my mind and keep a record of it in my diaries. Ideas can appear at any time in our life, they are like waves, one after another, if we cannot remember the beautiful creative ideas of the past, there is no point in imagining further. So my take on this issue is whether you want to succeed in school or you want to be on top of any business career, one has to remember these ideas and re-establish them in the course of our work. Business ideas should be remembered, recited and recalled at critical situations and applied according to our common sense. Here comes the organization part, it has to be systematic, time testing and well engineered. I engineered my thoughts in a way that it help me overcome any challenge. Its because of this, I was able to create a stream of credit line to finance my business from the second year of operations, I could foresee what is going to happen, my thoughts calculated in advance and saved me from a wide range of difficulties.
- How to tackle the issue of funding ?
This is a million dollar question my friends! Finance is the backbone of every business whether big or small, without which you cannot move a single bit. So before starting my business I had a thorough and profound understanding about my financial situation. Let me tell you my bank balance was quite less, I did not even had a good credit history then plus I did’nt had any rich connections to seek help to! I started my company in 2009 that time, situations were not favourable for any entrepreneurs, I had to face several difficulties from banks especially when I applied for loans. So I had to seek for something which was substantial and could support me regularly. It was then when I came up with an innovative idea of sharing my office space and equipments with another startup on monthly rental basis. In the initial months of my business this helped me a lot in managing the working capital. Banks needs collateral, guarantees and personal recommendations… so I had to convince my father to give me a loan which he eventually agreed to after realizing my passion for my venture. He told me,”Do whatever you want to do with this money, but if you exhaust these funds, get ready for marriage!” I had to overcome the challenge of finance and marriage together. So next year onwards I decided to create a credit line from my friends, so whenever there was a need, I made sure that I had the finance coming in to support. Those were obviously small amounts but enough to keep things on move. I tried managing with them the best I could with good negotiations with my clients and vendors, but never compromised on the quality of my product. It helped to grow my business to new avenues!
- Conceptualize your business plan!
One has to conceptualize the business plan to achieve growth. Business concepts are many, we cannot copy it and apply to our business. Every business is unique and needs a unique plan for itself as per our potential and then work on it. In business rumours are many, don’t trust them completely. Experience each and every nuances in your business and then take decisions according to your personal experience. You are the master of your own growth! Take its reponsibility!
- Be competitive and flexible!
In the beginning people doubted my deliverables, and that was expected because as a beginner I had to prove myself, my capabilities and what I can do for my clients! For that purpose I have offered a very good price for my services, I focused on the creative and research side of my business. I created strategies and concepts that could give maximum audience and reach to my clients. As a beginner I completely focused on faster delivery of my services coupled with great quality and piercing ideas. This resulted me with a bag of great clients like NSG (National Security Guards), NIBSCOM, NIESBUD, INSA, Samsung, Hitachi, Bry Air (Asia), Atlas Cycles, Rathi Steel Bars to name a few.
- Work for your company as if you are an employee!
I have worked for my company just like any other employee in the company. In the beginning I faced difficulties in hiring the right talent, which I had to manage through my own skills and smart work. I have looked after the graphic and production works of my company in the beginning along with guiding & motivating my employees on client satisfaction, quality work & time management. Most of my employees are still working with me as committed employees and I can proudly say I moulded them to elevate themselves to a workaholic situation without sacrificing their personal life. I have given them freedom of expression! As a creative company I always believed in the freedom of expression, clearly it reflects in my growth.
Today my companies are growing much faster than I imagined, investors are having optimism in its growth plus I am penetrating into the field of movie productions where I guess I can do a lot with my current experiences. Let me conclude this with a humble prayer, I think its in everyone’s heart…. we only need to listen to it, that to even if we are in the greatest chaos… something from the deep of our heart will say “no matter what, do not stop… go forward and advance” No help is coming from outside, my friends! Answers to all your questions lie within you!