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Entrepreneurial Story of Viraat Kothare who founded Deluxe Elite Info Solutions Pvt Ltd located in Mumbai, India
About:
- Mr Viraat Kothare,Director,Technology and Business Development,Bachelors in Computer Science University of North Texas,4 years experience in IT fieldResponsibility: Manage tech back end front end, R&D,implementation of new ideas/innovation, business development Special skills: Multi-tasking, drafting,communication,solving critical issues, sorting and error handling, handled development team of 6 people functional level
The Team!
When Started: 10th Sept 2010
Location: Mumbai,India
What motivated you to start your Business?
The sheer frustration and suppression at the current market trends and technologies made me think differently to make better valuable products through our flagship product mylifezy.com
Tell us about your Business
Our company flagship product ie Mylifezy.com a a social app platform provides a unique experience in bridging the gap by creation of several applications under various domains of social media, communications, digital marketing,information,networking,e-commerce,entertainment and value added services creation both SaaS(software-as-a-service) & PaaS(platform as a service) enabling the end user and businesses to market and promote products & services. with integrated social interactivity, marketing, social media tools providing 360 degrees turn key solutions in Omni channel solutions. Creation of a universal platform to end users to access and manage and control all virtual online accounts in one single centralized platform and sharing and collaboration of content and information with peers .
Tell us what an average day in your life looks like.
Average day in just dabbling between marketing,sales and handling various technologies,planning daily schedule and creating strategy with staff all at one go, apart from it to relax i play
pc games as a stress buster.
One particular skill you got right and gave you best results.
One particular skill i got right is decision making through strong analytical and logical thinking with a concrete strategy in mind.
What have been your biggest challenges in running your Business so far? How did you overcome these challenges?
The biggest challenges in running my business so far are:
- High recurring office space: I,had applied for a office space in IIT-Powai but they refused me because my co-founder is not an alumni of IIT, so i had start working from an another room in my building.
- Staff Hiring:During the recruitment drive i had interviewed many people out of which there were 1200 rejections from our side,until i got hold of a software developer whom i knew closely and started working with me at present.
- Finding key resources: I, had to research and find the best quality 3rd party vendors and solutions who could provide me not only quality services but at the same time affordable as well, we dont believe in compromise in terms of technology and security is concerned.
- Working on Budget: We had money crunch issues, therefore in order to tackle that and same time to stay ahead in terms of innovation, we worked upon on our product strategy to easy scale up and optimized our resources in such a way in which we are able to accomplish tasks quicker and faster all in our budget.
What have you found the most effective way to get new clients?
Since our launch inception in September 2014, currently the most effective way of getting clientele was through direct facebook private messaging to them who are actually active on facebook, apart from it in offline we closely meet with businesses during business events and exhibitions where we feel a personal interaction is much needed initially.
What advice do you give to other business owners?
The advice i would like to give other business owners is to have a clear sound strategy in all aspects in place and be your original and jump when necessary, as success relies on evolution and organic growth to be a differentiator in the market.
How did you keep motivated through difficult times?
I kept myself motivated through difficult times, by having a never say die attitude and also with suppression i had to think differently with different strategy, which led me to a different path at all times, and today we are proud of where we are in terms of uniqueness, differentiation, innovative technology breakthrough concepts.
What are your Marketing, Funding, and Team Building Strategy?
For Marketing activities we are having a balance mixed approach of offline and online marketing, and regarding funding,we had approached 2 vcs in debt and equity both of which we rejected due to
some issues ,although we look forward for a good VC who understands technology and believes in our concept, regarding Team building, currently we have outsourced work for marketing and over the years we have a good network of skilled people who are eager to help and resolve issues from outside,as we personally do not require an overhead of staff at the moment,but we will be expanding our in-house team at a later stage.
Your Achievements?
Personally am a 2 time limca book of records holder in hobbies and arts,MCSA & MCTS,a a patent holder for our flagship product and also applied for MVP(Most Valuable person for Microsoft),
developed around 60 plus applications till date ,apart from it received many national and international accolades & accreditions for our platform ie-
- National Application shortlisted at NRSCEL Open Challenge,IIM,Bangalore,India
- Company shortlisted in Top 16 Mumbai Angel Network ,Mumbai, India
- Company selected in Microsoft BizPark Program, India.
- Company selected in IBM Partner world Program, India.
- Company selected Top 10 in Destination India 2012 Event,Mumbai,India.
- Company selected acceptance in Startup Village Virtual Incubation Program, Kerala, India.
- Company selected in Future Fund, program supported by Freshdesk,Bangalore, India.
- Company Application shortlisted in IBM Developer Superstar Contest 2012,India
- Company received Discount of 50k on Startup MBA Program, Founders Institute,Mumbai,India
- Company selected as an esteemed partner on Pinpoint Platform by Microsoft.
- Company received sponsorship for product showcase by STPI,Startup Village,Bangalore,India.
- Company received special invitation by PMC Bank for Integration of IMPS Mobile Banking Solutions, India
International
- Company Qualified Semi Finalists of Digital Catalyst fund Bucharest, Romania.
- Company selected for Softlayer Catalyst Program, Dallas Texas.
- Company selected to showcase product at Startup Games Challenge,UKTI,London,UK.
- Company offered to East Labs Ventures, in Kiev, Ukraine, accelerator Program. (20k/15% stake).
- Company offered to join Springboard Program, in Cambridge,UK. In next program.
- Company offer to setup office by Innovation Centre,Prague,Czech Republic.
- Company shortlisted to participate in IDCEE 2012,Startup Competition Kiev, Ukraine.
- Company sponsored by Gyeonggi Business Center, Mumbai to participate in the G-Fair Korea Expo,in Korea 50% expense paid trip in Mid-October 2012.
- Company selected in IBM Global Entrepreneurship Program.
- Company project accepted in venture fund online program,London,UK for co-investment opportunities.
- Company accepted in Microsoft Windows 8 App Marketplace Platform.
- Company entry shortlisted in Top 200 out of 2100 for Startup Kilimanjaro
- Company accepted in Round 1 of 43 North Startup Fund
What’s your favorite quote?
Nothing is impossible and nobody is indispensable in this world
Who inspires you?
Leonardo da vinci and Thomas Alva edison are my role models who have inspired me in pursuit of my entrepreneurship path.
Share your Business Philosophy?
Our Business philosophy relies on –
- Cost cutting & optimization of resources
- Innovative Thinking
- Orthodox methods
- Own Methodologies & Usage
- Balance Approach of vertical & horizontal growth
- Quality & Security
- Harness best Technologies
- Organic Growth
- Consistency & Persistence
- Evolution Process and Adaptability with current trends
