Startup of the Week#3
1.
Let's start by telling the world what
your startup is all about.
‘frapp’ is a youth marketing platform, that currently allows brands to list their great offers and market them to an extremely mobile audience. Students are every brand’s target audience, and it isn’t easy for any brand communication to reach them since their consumption pattern is so erratic and unpredictable.
We realized though, that students do respond to one thing, and that’s a ‘good deal’. They make decisions as a group and are always looking to beat the system by winning a bargain. Customer lifetime value is critical for brands, and loyalty must be developed early on.
‘frapp’ is a youth marketing platform, that currently allows brands to list their great offers and market them to an extremely mobile audience. Students are every brand’s target audience, and it isn’t easy for any brand communication to reach them since their consumption pattern is so erratic and unpredictable.
We realized though, that students do respond to one thing, and that’s a ‘good deal’. They make decisions as a group and are always looking to beat the system by winning a bargain. Customer lifetime value is critical for brands, and loyalty must be developed early on.
2.
Who all form the backbone of your
team and what are they responsible for?
I, handle Product Design and Digital Marketing.
Armaan Vananchal (Co-founder) – handles Business Development and Marketing.
Niranjan Nakhate (Co-founder) – handles Finance and Strategic Alliances.
Dipen Patel (CTO) – handles Tech. Responsible for building the product.
Sri Ganapthy (Business Development Manager) – is responsible for bringing new business and servicing.
I, handle Product Design and Digital Marketing.
Armaan Vananchal (Co-founder) – handles Business Development and Marketing.
Niranjan Nakhate (Co-founder) – handles Finance and Strategic Alliances.
Dipen Patel (CTO) – handles Tech. Responsible for building the product.
Sri Ganapthy (Business Development Manager) – is responsible for bringing new business and servicing.
Devesh Kapadia (Operations Lead) – handles college associations and on-campus communication.
Charmie Shah (Design) – handles social media design.
Karan Singhal and Dhruv Agarwal are Business Development Executives who handle sales and client servicing.
3.
Did any of you have any prior
experience at marketing/sales/startup/business?
I personally had a little start-up experience since I was working at Fitternity.com, which is a health and fitness portal for products and services. And being the first employee there, allowed me to truly understand how a start up works. Armaan Vananchal has experience in events and marketing. He previously worked at PB Lifestyle (Playboy). Niranjan Nakhate worked in the financial sector. And since we all graduated with a BBA from NMIMS University, we knew how to ‘sell’ if nothing else.
I personally had a little start-up experience since I was working at Fitternity.com, which is a health and fitness portal for products and services. And being the first employee there, allowed me to truly understand how a start up works. Armaan Vananchal has experience in events and marketing. He previously worked at PB Lifestyle (Playboy). Niranjan Nakhate worked in the financial sector. And since we all graduated with a BBA from NMIMS University, we knew how to ‘sell’ if nothing else.
4.
What challenges did you face while
setting up your business?
This could be a long list, so I’ll just mention one that was probably the biggest issue when we started. Similar skill-sets. Since we graduated from the same place and had very similar backgrounds our tasks often overlapped, but over time we’ve taken charge of different aspects of the business. Each one of us final call on what we handle, and with a team in place we’ve solved that issue.
This could be a long list, so I’ll just mention one that was probably the biggest issue when we started. Similar skill-sets. Since we graduated from the same place and had very similar backgrounds our tasks often overlapped, but over time we’ve taken charge of different aspects of the business. Each one of us final call on what we handle, and with a team in place we’ve solved that issue.
5.
What is your greatest achievement
with FRAPP till date?
Personally, a reality-check. Till college you’re in a bubble. Very well protected physically and mentally by your parents and your set ideals and expectations. Start-up life isn’t for everybody, but it definitely puts everything into perspective. Everything is real, and survival becomes a real worry for the first time. Sure I’ve developed skills and built experience over time. But the real achievement is to grow up.
Personally, a reality-check. Till college you’re in a bubble. Very well protected physically and mentally by your parents and your set ideals and expectations. Start-up life isn’t for everybody, but it definitely puts everything into perspective. Everything is real, and survival becomes a real worry for the first time. Sure I’ve developed skills and built experience over time. But the real achievement is to grow up.
6.
What plans do you have for FRAPP the
future?
A lot. Can’t give out much but it involves making the product more sensitive and diversifying our offering.
A lot. Can’t give out much but it involves making the product more sensitive and diversifying our offering.
7. Is there any advice you or your team would like to give to upcoming
Entrepreneurs?
“Don’t fall in love with the idea”
“Don’t fall in love with the idea”
Always ask yourself if you’re truly solving a problem and if the problem is big enough. Focus on the team and launch only when ready. Premature ejaculation and premature product launch have one thing in common – leaves everyone unsatisfied.
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