Shark Tank India Judge Ashneer Grover Opens Up On Quitting 9-5 Job And Being Entrepreneur | WATCH

Ashneer Grover shared interesting insights about entrepreneurship and explained that how can someone build a brand in India with an example of his own experience of building BharatPe

Image: Raj Shamani/ Youtube

New Delhi: Judges of the popular business reality show Shark Tank India are basking in the success of the show that concluded its finale season on February 4. Some of the sharks including Bharat Pe founder Ashneer Grover gave way to hilarious memes with their catchphrases becoming hit on social media.

In a recent interview with social media creator Raj Shamani in Figuring Out, Ashneer who is known for his straightforward and brutal comments shared interesting insights about entrepreneurship and explained how can someone build a brand in India with an example of his own experience of building BharatPe.

Ashneer shared that it is really ironic that Bira has been his biggest portfolio investment even when he is miles away from drinking. He elucidates why he left 9-5 join and ventured into entrepreneurship. He explained why the MRP of a product is problematic for India.

"Every product has a maximum retail price and this becomes a constraint.  Nobody wants to pay for services here and MRP being capped adds on to the difficulties in the consumer side business. Indian consumers don’t like to stock, hence building a grocery business was quite tough in India. Businesses have still not been able to crack this segment of the business," said Ashneer.   

"The category suffers due to low ticket size of orders. It is difficult for a business to scale because of lower margin and cost incurred in logistics along with discounts and warehousing costs,” added Grover.

Grover also discussed fundamentals that should be clear to anyone who wants to be an entrepreneur. During the conversation, Grover credited his father for his honesty.  

He stressed on ticket size of the business and said those which have lower delivery cost stands higher chances to succeed. “Business to consumer model is a good way to test if the product will sell and the starting game of any business,” he added.

Ashneer believes that it’s important to have a conversation with the founder face-to-face to understand his passion and whether the business is for the long haul. On building a brand and scaling up, Grover said, "For fintech business, the branding is mostly based upon trust. The brand is built upon consistency in delivering the promise which has to be simple."

In the interview, Ashneer shared his experience of working with different companies and startups like Kotak Investment Banking, Amex, Grofers, etc., and talks about his experience of being a part of Shark Tank India.

This show gave an opportunity to budding entrepreneurs to make it big by pitching business ideas to a group of business owners seeking their investment.

The show aired on Sony Entertainment Television on weekdays for over two months. Its first season ended where Ashneer was one of the 'sharks' on the show. The other judges on Shark Tank India include Namita Thapar of Emcure Pharma, Anupam Mittal of Shaadi.com, Vineeta Singh of Sugar Cosmetics, Ghazal Alagh of Mamaearth, Peyush Bansal of Lenskart, and Aman Gupta of Boat.