Startups are tricky. Making profits out of them are trickier. Are they taking a startup to the unicorn status and making billions out of it? Well, good luck with that! And with all the businesses going online, eCommerce in India is reaching new heights. Technologically advanced startups are the rays of the rising Sun. The live example will be to study Sandeep Aggarwal’s both the foundation ShopClues and Droom.
The youth of today is dreaming beyond traditional jobs and exploring new possibilities. The startup market is brimming with new ideas every single day and watching the rise of new shining entrepreneurs.
But here’s to the bitter truth: do they all succeed? Do they all manage to make the profits that they dreamt of in the beginning?
The reality is that most of them are unable to reach the status they wanted to. Truth be said, only a fraction of the new startups emerge to become profitable enough. Most of them just lose the enthusiasm and drown away into oblivion.
This gives rise to the fundamental question: what does it take to build a billion-dollar startup company or business?
Taking excerpts from Sandeep Aggarwal, Shopclues and Droom Founder, we shall know all about Droom and automobile eCommerce in India.
All About Droom
Droom is an online platform that supports automobile eCommerce in India. Established in 2014 by Sandeep Aggarwal, it is the first and the largest platform that enabled automobile eCommerce in India.
The platform is house to millions of buyers and sellers, with a particular target on buying and selling used vehicles. Additionally, there are various other features related to the automobile industry that users find very helpful.
While there have been other platforms that operate offline in the used automobile industry, Droom was the first to blend in technology with the basic concept.
If you, too, are planning to buy or sell a vehicle soon, do go check out Droom.in, and you would be flooded with options that match your priority!
Now that we know all about Droom let’s check out some suggestions from the founder himself on how to run a successful eCommerce in India.
Build your Unicorn Startup
It can be troublesome to dive into the ocean of startups without a guardian to turn for help. While we cannot walk you through the hurdles, we sure can help you with a few tips. Here are some tips from Sandeep Aggarwal that you need to keep in mind while building your billion-dollar company:
Your idea is going to be your business, so make it count! Think about the sector you want to work in, the revolution (tiny or huge) you wish to make and think BIG.
Polish Your Idea
Because just thinking of it won’t get you to places. For a successful eCommerce, make sure to get your facts and research to the point. This will give you a better understanding of your market and your users (target audience matters!).
Manage your Cash Burn
A common issue with many startups is learning to manage your funds to make the best out of them with low to zero wastage.
Grab the Opportunity
Bring out the opportunist in you and make use of every candy! Be it the technological benefit or personal connections, and it takes all of them to reach unicorn status.
And most of all, do not let go of your dreams. That itself is enough to take you to the heights of success!