Indian Entrepreneurs and The

Litmus Test

Features Co-founders should have

Complimentary Skills
Social Capital
Shared Values

How to find Co-founders?

Leveraging power of network
Identifying contacts that operate in different social circles

Leverage power of institutions

Same educational institutions or interest groups

Providence

Litmus test for the potential entrepreneur

Q 1: Are You Comfortable Stretching the Rules?
Q2: Are You Prepared to Make Powerful Enemies?
Q3: Do You Have the Patience to Start Small?
Q4: Are You Willing to Shift Strategies Quickly?
Q5: Are You A Closer?

Case Study: PepperFry

FURNITURE & HOME PRODUCTS ETAILER, FOUNDED IN
2012, HQed IN MUMBAI; OFFERS OVER 75000+ PRODUCTS
ABOUT
Founders: Ambareesh Murty (CEO) and Ashish Shah (COO)
Both worked in leadership positions in eBay India
Ambareesh: Former eBay Country Manager
Ashish: Former head of eBay Motors-India and Philippines
Managed workplace model
CURRENT SCENARIO
Won the Red Herring Top 100 Asia Award in 2012
Largest online furniture and home store
Works with close to 1000 merchants across India
They sell a piece of furniture every 20 minutes

The Founders Story

AMBAREESH: IIM-C graduate, 14 years experience in FMCG,
Financial services & Internet industries
ASHISH: IMT graduate, 15 yrs exp in Sales Operations, Supply
chain and logistics; B2C and B2B
Complimentary skills:
Ambareeshs FMCG & financial experience complimented
Ashishs Operations & procurement experience
Social capital
Vast experience and network in other industries including
logistics, internet and B2B business
Shared Values
Shared vision of: Ensuring employees, communities,
craftsmen and businesses who work with us, grow with us
and enjoy being part of the journey

How PEPPERFRY passed the Litmus

Q 1: Are You Comfortable Stretching the Rules?
Had features which no online store could offer
"Free Delivery and Assembly
"100% Satisfaction or Money Back Assurance
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How PEPPERFRY passed the Litmus

Q2: Are You Prepared to Make Powerful Enemies?
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How PEPPERFRY passed the Litmus

Q3: Do You Have the Patience to Start Small?
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Q4: Are You Willing to Shift Strategies Quickly?

SUCCESSFUL ENTREPRENEURS ARE AGILE AND
ADAPTABLE IN DECISION MAKING
Pepperfry started out as a multi-product departmental store featuring
apparel, bags, furniture & home decor, Jewellery, Cosmetics etc.
Found stiff competition from Myntra, Yebhi, Jabong etc.
Change in strategy: Realized that Pareto Principle actually is TRUE
80% of the purchase was happening in the furniture and home decor
space
Decided to sharpen focus on furniture & home dcor and brought in
huge variety

Q4: Are You Willing to Shift Strategies Quickly?

How to balance Online vs. Offline model in such a tricky industry?
Strategy: To provide design thought leadership and services to the
evolving Indian home shopper
Result: Opened first Concept Store STUDIO PEPPERFRY in
Mumbai (Dec2014)
It has iPad wielding interior design consultants to understand
consumers requirements and provide them consulting services
Objective:
To let customers understand and witness the quality and finish of
Pepperfry furniture products.
To build trust and confidence in the brand

How PEPPERFRY passed the Litmus

Q5: Are You A Closer?

QUICK DECISION MAKING IMPORTANT

Important that a decision be made than that it be the best possible choice
Case 1: Better late than never
The founders decided to go the e-commerce way and opened a multi-category
online store without any niche.
An year later, they narrowed their portfolio to home dcor
They made the decision first and then refined it as quickly as possible than wait
and watch for the right moment in e-commerce

Case 2: Ad campaign launched during Diwali and continuous ads involving

their TG of young couples sharing personal stories

Thank You!