Interviewer- How did you get the idea of bringing a revolution in education and establishing 'IIDE'?
Karan Shah- During my college days, I interned and was in the founding team at today one of Asia's largest Digital Marketing Companies 'Social Kinnect' where I got exposed to Digital transformation and Digital Marketing as a technique to increase sales for brands. Post graduation, when I entered the job market I realized that there is HUGE demand for digitally skilled resources and there is literally zero supply for the same. I mean 'Digital' wasn't even there as a subtopic in our University textbooks. The supply and demand ratio seemed like an opportunity to me. I am a passionate public speaker since childhood and I instantly combined my digital marketing knowledge and my passion for public speaking to form IIDE - Indian Institute of Digital Education - India's premier school for digital skills.
Interviewer - What obstacles did you face in the initial years?
Karan Shah - Everyone thinks that you are a young kid with bubbling ideas and most people don't take you that seriously. From gaining credibility, meetings, being considered serious is something I faced a lot in the initial years. We run courses in collaborations with a lot of colleges as of today. 1 of the college took me 14 meetings with 4 hours per day sitting outside the principal's office just to get a meeting with him.
Interviewer- What are the challenges you are facing till date?
Karan Shah- Challenges have faced today. Most of the challenges are people management, quality control, increasing customer lifetime value increment and many more. But most of the problems today are happy problems. These are problems you need to have if you are a growing business. Happy to face these challenges every day.
Interviewer- What measures are taken by your institution to keep following your core values?
Karan Shah- No Pain, No Gain. Winning isn't everything, its the ONLY thing. These are 2 of our favourite quotes at IIDE. We also have an induction day at IIDE where each and every employee on their first day has to drink a cup of black coffee. It's forced down your throat. But today its a part of our culture. Everyone embraces it and makes fun of the new person joining.
Interviewer- Through your experience , what words of advice would you like to give to small budding entrepreneurs to make them grow?
1) Time is money. Think of things as investments and not expenses.
2) Aim to have zero profit on your books of accounts in the first year. If you have a profit on your books of accounts and there is no expense against it (for the growth of business) then that's the entrepreneurs mistake.