Great Companies: How did you get your idea or concept for the business?
Shri Abhiram Gochhait: One of the easiest and first places to come up with a business idea is through your own experiences. Do you have a problem that no one else can solve for you? Can you come up with a solution to solve it or a similar problem for others? Write down all problems like this, even if you cannot solve them initially. Search for a solution to the problem and see if someone else has already solved it. If not, brainstorm ways to solve it yourself. If you want to get started, look into what resources are available to you. That's what I learned from my 30 years with Tata groups.
Great Companies: What are the various services provided by NextGen Educational Trust?
Shri Abhiram Gochhait: Research , Education for rural students, Training and Consultancy.
Great Companies: What makes NextGen Educational Trust different from hundreds of other similar service providers?
Shri Abhiram Gochhait: When you grow your startup, it's important to think about how to stand out from the competition. One of the most important things you can do for your business is to have a unique point of difference in a marketplace where being different means a better chance of surviving and getting funding. Developing a unique brand identity and positioning yourself in a way that sets you apart from others is key. Additionally, having a clear value proposition and a well-defined target audience can help you stand out from the crowd.
Great Companies: What were the struggles and challenges you faced and how did you overcome them?
Shri Abhiram Gochhait: Entrepreneurship can be an exciting and rewarding experience, but it can also be extremely challenging and difficult. In order to succeed as a new business owner, you must overcome a number of obstacles, ranging from finding the right funding to navigating the complexities of regulations. Any aspiring entrepreneur needs to be aware of the challenges startups face and know how to address them. Having a clear vision of what you want to achieve and a well-thought-out strategy to get there are essential for success. Additionally, having the right team in place, with the appropriate skills and attitude, is key to navigating the difficulties of running a startup.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for NextGen Educational Trust?
Shri Abhiram Gochhait: One of the biggest reasons small businesses fail is a lack of planning. A lack of planning is one of the biggest causes of small business failure. A surprising number of business leaders have not prioritised tangible growth strategies and have not expanded the size, revenue, and scope of their small businesses.
Next 5 years we like to register as Pvt Ltd Company and Register on Department for Promotion of Industry and Internal Trade (DPIIT)
Our startup declared winner for the idea on AI VIM (Artificial Intelligence Application)