Entrepreneurial Story of Vikram & Sameer who founded Terimeriboli.com located in Mumbai – India
- Vikram Khare – Founding Partner and CEO
- Sameer Shaikh – Founding Partner and COO
Email – firstname.lastname@example.org
When Started: 02/03/2015
Location: Mumbai – India
What motivated you to start your Business?
Address a gap in the existing local services market in India
Tell us about your Business
Terimeriboli.com brings together consumers and businesses in a unique way.
Consumers post their jobs on the website. Local businesses bid on them.
The consumer chooses the most relevant bid.
Businesses get rewarded with a unique points system that offsets the cost of their bid and job commission fees.
Consumers use the service totally free.
More than 400 service categories to choose from means that there is something for everyone.
Tell us what an average day in your life looks like.
Vikram – Managing the way forward for the business by looking at the growth figures and making small adjustments to the business model accordingly. This could translate into putting more focus on certain geographical areas or certain skill/service categories etc so as to maximise usage of the website.
Sameer – is the man on the ground taking care of all the Operations for TMB which involves Marketing, SEO, New Business, Tie Up’s etc. Sameer also ensures that the day to day Operations of the website are smooth.
One particular skill you got right and gave you best results.
Understanding your target market and it’s needs.
What have been your biggest challenges in running your Business so far? How did you overcome these challenges?
Generating new sign up’s for the Business/Supply side.
We have been overcoming this by informing potential businesses about Terimeriboli.com using multiple avenues such as email, phone, face to face and affiliate marketing.
What have you found the most effective way to get new clients?
Direct pitch to potential clients
What advice do you give to other business owners?
Perseverance is essential to achieve results
How did you keep motivated through difficult times?
Keep a focus on the end goal that you have in mind for your business
What are your Marketing, Funding, and Team Building Strategy?
Marketing – Identify your target client base and work out the best form of selling your business to them. IN our case this meant trialing various different methods before we worked out which gave us the 80% benefit using 20% of our resources.
Funding – The co-founders fund the business and stick to a pre arranged budget for operational and long term business funding.
Team Building Strategy – the business has less than 10 people at the moment and team building is focused on ensuring each member of the team understands their role within the business and is empowered to provide input into building and growing the business.
Terimeriboli.com has since it’s launch acquired 50,000 plus businesses and is servicing a niche customer segment in roughly 30-40 service categories in Mumbai.
What’s your favorite quote?
Just Do it..!
Who inspires you?