Millionnaire asia cover_story_uday_challu_(jan-feb_2015)

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90 Millionaireasia India, March-April, 2015

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Millionaireasia India, January-February, 2015 75

cover story

E quipped with traditional fi shing heritage, combined with knowledge

of new economies, Sangram Sawant brought to reality his dream of becoming a ‘shore to door’ entrepreneur as he founded India’s fi rst organised seafood retailing and distribution company, PescaFresh. What started as a shoe-string budget venture out of central Mumbai, is currently valued at over `10 crore, delivering fresh seafood to over 20,000 households in Mumbai with retail shop-in-shop outlets in Mumbai, Bengaluru, Hyderabad and also New Delhi. Having spent almost a decade in the seafood industry, Sangram understands the pluse of fresh seafood industry as well as the challenges that are faced in the supply chain to the last link. He is often invited by CII, National Council for Food Processing, and other such bodies to speak about his expertise in the fi eld.

The Challenges on Way The goal-setting is what makes any entrepreneur’s business plan a real plan. Right from working towards a model constructed around my passion to establishing a strong presence in the unorganised sector from ground up, milestones are more or less expectations that I have set for myself. Despite the initial incredulity, we have successfully been true to our magic mantra of ‘Shore to Door’ by constantly providing fresh seafood of top-notch quality. I still consider the initial customer satisfaction as a major milestone.

Till date, PescaFresh is the only company that took a leap of faith in the organised retail sector in order to provide products in a fresh chilled manner as opposed to what the market offered in terms of frozen, canned or the usual preserved products.

Being a First-generation Entrepreneur The Indian market teaches you the nuances of a diversifi ed market but it’s up to you to constantly adapt and evolve with the ever-changing needs of our customers. The zest to do more and inherent passion can sail you through choppy waters

in the world of entrepreneurship. Also, we owe our growth trajectory to colleagues and team members who have helped us use measurable goals to be in line with our potential. The ability to use data analytics to support your gut instinct is equally important and drives most business decisions. Of course, there can be no substitute for burning the midnight oil. Also, you need to be self-driven in order to drive an organisation.

(As told to Anuradha Kaul)

The Big

Sangram Sawant, Founder and CEO, PescaFresh

Catch

A self-driven new-age entrepreneur, Uday Challu is the CEO and Co-

founder of iYogi. Leveraging its proprietary Digital Service

Cloud software technology platform, iYogi delivers on-demand support services to scores of subscribers globally, while generating revenue to the tune of `100 million. Uday has held several key roles in start-up and growing companies. He also co-founded a boutique management consultancy business, and is a board member of Wizcraft.

Challenges of a Start-Up The foremost challenge was getting that very fi rst set of people to believe in our initiative. It was a struggle to gather the right people, and then get them to share and invest their prowess into our vision. What followed was a tumultuous journey which is the trademark of starting any venture from a scratch. There was exhaustive testing of market conditions, and the mammoth task of raising capital post the initial commercial launch which was rendered all the more

diffi cult owing to the fact that the global economy, including India, was just recovering from a fi nancial slump. Overcoming that crucial phase was the biggest milestone as per me.

Key to SuccessOne has to know the business they are in. Inside knowledge of the trade is an absolute must. When launching a venture, the improbables should not exceed over 15-20 percent. Another thing which is of utmost importance in this day and age is to have some understanding of technology. Next comes deciphering the math of cash. After all, businesses are built for success, and success is measured in profi ts and losses. If this accomplishment is not quantifi able in substantial fi gures, one cannot justify the risks undertaken either. Add to that dollops of luck, some great timing, a sense of good intuition and plenty of hard work.

Epithet of WisdomI believe luck favours the people who take chances and work hard. It’s important to start early in life. One needs to learn in the formative years itself that until you banish from your comfort zone, there is very little chance of you falling in the path of interesting opportunities. Now, these might even turn out to be wrong or ill-timed opportunities but that experience of failure is crucial too.

(As told to Megha Sharma)

The

Uday Challu, CEO and Co-founder of iYogi

Tech Seer

74 Millionaireasia India, January-February, 2015

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