This Story is about Deepak Kumar Founder of Socialite.in located in New Delhi.
What motivated you to start your Business?
Being able to lead from the front, independence and rewards that are directly proportionate to the hard-work.
Tell us about your Business…
Currently, we are a social networking & media platform for socialites in India. Very soon launching our own magazine catering to the luxury segment. Also, a luxury ecommerce platform and a niche social networking site is in works.
What is a Day in a life of you like?
I work from 11:00 AM till 2:00 AM. Day starts around noon and at times just never ends but I love my work and that’s what matters to me while Saturday’s and Sunday’s are only for family.
One particular skill you got right and gave you best results….
Being innovative in whatever I do. That helps me do things differently and add value to the entire proposition.
What have been your biggest challenges in running your Business so far?
Raising capital when idea is not yet proven and putting together team when low on cash. Every investor wants a pie of success but not interested in bearing the pain of early days when you need them most.
How did you overcome these challenges?
Innovation is the key and helps overcome most of the challenges. I have managed to create a prototype of what investors want to see with least capital off my pocket. Also, I am often ready to compromise luxuries of my own self to keep fueling the business.
What have you found the most effective way to get new clients?
Always try to meet them in person wherever possible. Find a way to make them feel the desired results they seek so they see a value in your product or service. Always deliver more than you commit and on time.
What advice to you gives to other business owners?
Running a business is a big responsibility and working hours are never defined so unless you can commit to such a lifestyle business is not for you. First start by defining your ultimate goal and lead by example for others in team to follow. Sharing of responsibilities, proper delegation are very important for scalability and value time.
How did you keep motivated through difficult times?
Deep inside I always know success is mine and my goals keep me motivated. However, I am not obsessed with success and also keep myself prepared for the worst to come. I take it easy and just try do my best.
What’s your Marketing, Funding and Team Building Strategy
Honesty, transparency in dealings and strong ethics make my strategies appealing to my clients, investors and team.
Professional: Started consulting dotcoms back in 2000 and have been part of several large multimillion exits. Started a multinational BPO when I was just 24 year old where I earned every penny and build strong foundation with offices in Las Vegas and New York; Sold my stakes just before sub-prime crisis and since then trying to launch some of the most innovative concepts from India that have a global appeal.
Personal: Have seen both success and failures that gives me a different perspective of life and I consider it as my personal achievement. Able to see beyond the obvious and relate to most situations.
What’s your favorite quote?
If you are not willing to risk the unusual, you will have to settle for the ordinary. – Jim Rohn an American entrepreneur, Author & Motivational Speaker.
Who inspires you?
Mother Teresa, Mahatma Gandhi, J.F Kennedy, Steve Jobs
Do you have a Business Philosophy?
Sharing wealth and social justice for all. I believe in creating wealth for sharing and fueling further growth by promoting entrepreneurship.
Know more about Socialite.In
Best Wishes from startup Freak to Deepak Kumar!