Recently we got the chance to interview Mr. Lalit Bhise, CEO, Bizom . He is an amazing person to talk to and a perfect leader to lead the organization. In an amazing conversation, he reveals a lot of interesting stuff about Startups.
Team BGD : How your company started?
Lalit : Our latest venture Bizom started after a casual discussion with our advisors on how to make Retail SME market in India more efficient and how to make money to “aam dukandar” in India. It was further refined by discussions with many stakeholders including more than 100 brand owners and distributors
Team BGD : What was the vision behind it?
Lalit : Make 2x profit to each one of 18 million Kirana shop owners in India through Just in Time stocking !
Team BGD : What your company actually do?
Lalit : Our company helps Kirana retailers order producs they need, right from their smartphone. We get these orders delivered in 24 hours through our ecosystem of stockists. We are profitable with more than $ 1 million in annual revenue.
Team BGD : What are the difficulties which you have faced or you are facing ?
Lalit : Many many difficulties but majority of them we have been overcoming over years. Few of them are :
1. Getting brands on board with their suspicions on working with small startups
2. Hiring right people
3. Raising money
Team BGD : How your company is helping India to grow?
Lalit : Retail is the largest GDP contributor to India with it’s $500 billion market size. 90% of this market is driven through Mom and Pop kirana stores . We are helping this $ 400 billion large ecosystem consisting of more than 1.8 crore retailers become more efficient and in the process earn as much as 2x of their current profits.
Team BGD : What will be your message to young entrepreneurs who wants to have their own startup?
Lalit : Don’t run after VC money, run after making something of value and proving product market fit and traction. Money will follow.
Here is a team pic of Bizom :
Message from Lalit to all young entrepreneurs :
Don’t run after VC money, run after making something of value and proving product market fit and traction. Money will follow.