2020 - Great Companies - connect@greatcompanies.in

Contact US
arrow&v
  • Great Companies

Interview with Mr. Karma Bhutia, CEO and Founder of iShippo.com


Interviewer: How did you come up with the idea of your company?

Mr. Karma Bhutia: I’ve been in the IT industry for over 2 decades. I’ve seen a lot in those years. In 2004 I co-founded an IT services company and by March 2015 my company got acquired. We had built a reputation for ourselves by building a lot of cool stuff for many established companies like Apple, HP, SAP, Dell & startups like Cleartrip, HolidayIQ, TaxiForSure etc. My team and I had been providing IT services for over a decade and creating so much value for everybody else.

I wanted to create something valuable and sustainable & that’s how iShippo.com started. Initially we started out trying to solve the logistic challenge that prevails in our country but we quickly realized that there were many security & regulatory hurdles that needed to be resolved before we could open it up to the public and hence we pivoted into a marketplace for hand crafted products because we realized that it was a completely undeserved market and we had the right skills, tools and the execution prowess to service this market.

One of the most important lessons I have learnt is that a good team can lead you to success and a bad one to failure. Your team needs to be productive and efficient and you need to cultivate & hire A Players. You must work with a team with common vision and goals to smell success.

Interviewer: What is your inspiration to generate new ideas?

Mr. Karma Bhutia: Entrepreneurship is about creating, building and the thrill of solving problems that impact people’s lives

Interviewer: What three things are most important to become a successful entrepreneur?

Mr. Karma Bhutia:

  • Passion & Drive are the only things that will sustain your business in the long term. Hence inculcate the same drive in your team mates and let them share the same dream. If your team doesn’t share the same drive you will never generate enough momentum to launch spectacularly

  • There are no shortcuts - you have to keep improving, evolving & building. The moment you are thinking about shortcuts then you’ve probably given up.

  • Always keep your ears and eye open to learn new things. Even though they might seem insignificant at first it will help you somewhere down the line in your entrepreneurial journey.

Interviewer: How do you deal with failures and challenges in your business?

Mr. Karma Bhutia: One of the challenges was dealing with an unorganized sector on the supply side, which was patronized by folks who don’t purchase unless they can touch or feel these products.

As a startup there are a lot of moving parts when venturing out on your own: acquiring customers, acquiring sellers, balancing the marketplace (supply/demand), customer satisfaction, social media, marketing, etc. In my opinion having basic knowledge on best practices in these is crucial to running your business on a day-to-day operation but you still have to hire A players who are dedicate to their craft.

Interviewer: What mindset one should have to help the company achieve huge heights?

Mr. Karma Bhutia:

  • There are no shortcuts - you have to keep improving, evolving & building. The moment you are thinking about shortcuts then you’ve probably given up.

  • Hire ‘A’ players in your team even if it means giving an arm & a leg. Most of the times you might not find the right kind of talent in the mountains - never fear to tread far to seek the talent out.

  • Always keep your ears and eye open to learn new things. Even though they might seem insignificant at first it will help you somewhere down the line in your entrepreneurial journey.

  • Always be prepared to deal with the unknown. As an entrepreneur you will be faced with this question on a daily basis - quick thinking and effective decision making helps.

Interviewer: What are some of your habits which helped you become a successful entrepreneur?

Mr. Karma Bhutia:

  • Always watch for opportunities

  • Don’t take NO for an Answer

  • Be open to learning

  • Prepare short term daily goals and work on achieving them

“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”― Bill Gates

Interviewer: What would you advise budding entrepreneurs or the students who want to become an entrepreneur?

Mr. Karma Bhutia: There are just so many variables at play that it is impossible to create a winning formula right out of the gate. There are definite things that you need to do: you need to know your product, how you want to sell your product, marketing ideas, etc. But it is really up to you on what you feel are the best ways to approach it, how you build, how you plan and how you execute to scale. You also need to listen to feedback and be open to changes – always.

What it takes to become an entrepreneur is having a solid idea, determination, and ability to solve problems. There are so many resources available online that what you lack intuitively you can make up for by researching. The right attitude to have is to keep a curious mind.

You will probably have a bad week, month, or even quarter when starting. If you are only focused on the negative things you are probably going to sabotage your own success. I think it helps to create some type of time line or plan to help your progress. You also need to have realistic goals and expectations.

Keeping all that in mind you should coach yourself to Never Give Up.

Interviewer: Define your life as an entrepreneur in one word.

Mr. Karma Bhutia: Persistence

India is the land of handicrafts & handloom with a rich tradition of indigenous art/craft in every part of the country. However, with the growth in globalization and availability of industrial goods from all across the world, the local artisans often struggle to find a market for their products/craft/skill.

iShippo.com an online eCommerce marketplace where people connect to sell and buy handcrafted goods. At iShippo.com, we have begun a fascinating journey, a humble attempt to bring India a little closer to the world.

https://ishippo.com

#Handicartfs #Handlooom #iShippo