Abhishek Sharma, Founder at Magnanimous Design Minds Pvt Ltd
Great Companies: How did you get your idea or concept for the business?
Abhishek Sharma: There are Two Different aspects of the story behind the origin of My Design Minds.
The first one was the scarcity of good Designers in the industry as well as the expensive costs of the Design software that don’t allow Small and Medium Scale industries to afford good designers in their teams. Thus We decided to start a company that can help Startups, Small, Medium, and Large Scale Industries with brilliant minds of Amazing Industrial Designers, to Fulfill their design requirements. My Design Minds is helping them developing New Products and supporting their business with our expertise in design software's and Knowledge of Industrial Products Design and Development.
The other aspect was to Build a Design Services Provider company that must be recession proof, and should never go out of business in any worldly scenario. The US recession of 2008, did teach us a lesson that we should never rely on One Income stream, so we decided to incorporate all kind of Design Services under one roof with the Brand name of My Design Minds.
Great Companies: What are the various Services provided by Magnanimous Design Minds Private Limited
Abhishek Sharma: At My Design Minds, we provide all Kind of Design Services that a Company (Any company) would require at some or all time of business operations. Technically the service which are provided by My Design Minds are as following:
Mechanical CAD Design
Civil CAD Design
Architectural CAD Design
Interior CAD Design
Electrical CAD Design
Great Companies: What makes Magnanimous Design Minds Private Limited different from hundreds of other Design Service providers?
Abhishek Sharma: If we compare My Design Minds with Other service provider companies out there, then yes definitely we are not doing anything different from the other companies.
But there are few problem areas that we have identified in the Industry while providing design service
· Hassle of Finding a Good Designer / Design Company / Agency : Whenever a Company requires a Design service for any of the above mentioned area of business operations, They need to face a great hassle of searching, shortlisting and selecting a Good design company for that particular service. At My Design Minds they can share all the requirements at once and we will take care of all the Designs with the quality that the customer needs.
· Hassle of Co-ordinating with Multiple Design Vendors: As finding Great designers or Design service provider companies is a Hassle, Coordinating and working with all different vendors for different design services is another hassle to keep a track on overall projects and delivery timelines. At My design Minds We are the One stop solution to all their design needs, hense they need to share and coordinate with only one person that removes the difficulties of sharing the information and the project management, by saving their time and hassle.
· Cost Effectiveness: Considering Profits of all different vendors the customer pays comparatively higher cost than the actual cost of the services. We at My Design Minds keeps our profit margins lower with commutative orders and hence the customer pays a lot less then the amount he was paying in the earlier case.
Great Companies: What are the struggles and challenges you face?
Abhishek Sharma: Being a Bootstrapped Startup, Scaling and finding a right team are always the biggest challenges that we are facing. Usually a Designer or Design Engineer chooses one Industry and tries to stick to that particular Industry for their career lifetime, that restricts them to learn and work on different manufacturing and innovative engineering technologies which somehow slows down their subject knowledge. This is the one reason why most of the designers working in small and medium scale industries lack the creativity and the broad perspective of seeing things for an innovative design that functions exactly that it is supposed to.
To overcome these challenges we decided to hire designers with basic design Knowledge and train them with expertise in all areas.
Great Companies: How do you plan to grow in the future? What do 5 years down the line look like for Magnanimous Design Minds Private Limited?
Abhishek Sharma: Considering Business today, we started with limited Design services to serve to our clients. Being a Bootstrapped startup, it was our first priority to launch an MVP to the market to start with the revenues. We are planning to incorporate all other services to be fully functional by mid of 2022.
5 Year down the line we are looking forward to build a headquarter for all our Designers with an Innovation hub. We are also exploring the possibilities of creating a franchisee model to the same.
Great Companies: If you had one piece of advice to someone just starting, what would it be?
Abhishek Sharma: My advice for anyone who is starting up or thinking about starting up with his/ her business would be, only one.
“Don’t rush into Startups, just to get out of your boring corporate job, or just to look cool among your friends or colleagues or to create a better image of yourself. If you are passionate about solving problems, and you have actually find out a problem that you can solve better than most of the people out there and willing to do whatever it takes to bring that change into the society by solving a particular problem, then and then only you should think about starting up. Do your research, plan your business and revenue models an