25 Lacs in Revenue, 90% Repeat, 15 Customers, Average Revenue per Customer– INR 50K, Average Gross margin 10%” The story seems picture perfect right? Well, these were the stats when I shut down my last start up because of lack of funds. Surprised? Yeah I was too. I felt that we had: 1. A great team 2. Awesome market size (B2B grocery E-Commerce is HUGE) 3. Crazy vision to be the biggest B2B grocery marketplace in India 4. 25 lacs in revenue = execution perfect (at least we thought) 5. Scalability — is enabled with a great tech product 6. Product — Only on paper, no execution, as we felt, let’s set up business first, pick up funds — then we will invest in product But we did not get funded. As you might have figured out up till now, the only differentiation you will have in today’s start-up scenario is your ability to Scale and Execute — both of which are enabled by a great product. When DIKY (www.diky.co) was conceptualized, the first thing we did was start working on the damn product. Focus was and is to create something which makes your life simpler and better in a cool and engaging way. There are a few things which we learned while building DIKY – 1. Get your flow and U/I in place before any coding starts as changes in the former will only lead to more iterations and frustration for the latter. 2. The sooner you can get your entire product’s vision on paper — “Element by Element” the faster it would be executed. 3. Design it in a way that leads the user to the “Aha” moment — i.e. when the user will engage on the app and share the experience. 4. If you yourself do not constantly strive to think of innovative ways to keep making you product better, then THOU SHALL SOON BE OVERTAKEN! There is a lot of talk about products, but the aim of this article is to help realize its importance– Your Product is not something you just brought online by making a website, it’s a lot more… and this is what keeps your competitors down on their knees.

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aditya_1diky

October 2015

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