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Covetlo Gives You A Unique Shopping Experience Using Big Data Analytics
Tell us a bit about yourself?
How did you start your career and where are you now?
How did you get your idea or concept for the business?
Millions of disconnected stores online, thousands of un discovered products online and shoppers are still wasting so much time researching for products that they want. Covetlo brings together all stores, products and people into a single social platform.
What is unique about your business?
This is web based platform which combines big data, social network, commerce, seamlessly on one platform.
What services do you offer?
We offer a B2B2C solution, where vendors are able to capture the fragmented digital footprint of a user and push products that align with customers' interests, preferences and online social behavior, leading to a higher conversion rate.
How do you advertise your business?
We have just finished building the product and not yet started the online marketing. However, we did some digital marketing during our Beta launch and user testing. Moving forward, we will rely heavily on the Digital Marketing and "word to mouth" from our user. There cannot be better recommendation other than coming from the user himself.
To what do you attribute your success?
Firm determination and hard work.
What made you choose your current location? Do you have exposure in working in other cities or countries other than Delhi-NCR?
Gurgaon has a vibrant Start up culture and eco system. I chose it for convenience. It is so close to the capital of India and hence the network and other amenities are exemplary. I have worked in Bengaluru in India and then again in Melbourne and Seoul. There are certain unique qualities that belong to every city I have mentioned, which makes it exciting to work there.
What are the obstacles did you face in your venture?
As an entrepreneur, if your company grows, you are doing everything for the first time, which always makes it a challenge. Finding the right people to start your company with and create the product is always the biggest challenge of all. Not everyone is cut for entrepreneurship or working in a start up, which is very different from the regular workplace. It's very hands on compared to an established company. There are no rules and that kind of throws a lot of people out of depth, especially those who have grown up in structured environment.
What are the challenges you face being a female entrepreneur?
Fund-raising to grow is another challenge in current scenario. After the 2014-15 frenzy has subsided and burning cash is not fashionable any more, it is a challenge to raise funds. We have bootstrapped Covetlo for more than a year now and hoping to raise funds soon. I feel that investors have less trust on a female founder.
What are your strengths and weakness?
My ability to connect the dots, tenacity and determination are my greatest strengths. Not doing due diligence and trusting people on their face value was my weakness. I have learned that business is business. There is no room for emotion while making the decision.
Do you think you have been successful in your venture?
I am very happy with what we have build and how far we have managed to come. However, I firmly believe that the best is yet to come. 2017 is going to be an amazing year for us.
If you had one piece of advice to someone just starting out, what would it be?
Journey itself is the destination.