You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Chirag Virani, CEO and founder of Viranigems.com, believes that consumer mind-set is slowly changing when it comes to buying valuable items online starting from electronics and clothes to diamond jewellery.
I am fascinated by the fact that I would not only be able to witness this change in consumer mind-set, but also be the driver of this change in the growing jewellery e-commerce ecosystem.
From an idea stage to the implementation, I have come across many unique challenges that have helped me grow both personally as well as professionally on my never ending journey as an entrepreneur. In this article, I would like to share some insights that I hope would help anyone who is going through a similar journey I have am currently going though.
Idea and Concept Development Stage
Your idea could be a billion dollar idea, but if you, yourself do not have full faith in your own idea and doubt your logic every time someone challenges you, the idea is most likely not going to turn into an action. Not everyone you seek approval from would share the same vision, enthusiasm or passion. If I had doubted myself when many of my close friends, including some of the biggest industry players failed to see the potential in jewellery e-commerce portal, I would have not launched my online diamond jewellery brand. Despite as many doubts you may have, have the courage to defend your idea, especially at the very early stage.
After your Idea turns into Action
Once you decide to go ahead with your idea and invest your time, energy and money into your vision, you must have a well balanced team that is working towards the same vision with clear and measurable goals. At the very early stage, I and my wife were able to handle majority of the tasks ourselves, but we soon realised that we needed to build a strong team with technical expertise as well as PR and marketing background. No matter how talented you are, you would not be able to handle all the different aspects of your business effectively on your own. If you cannot afford to have an in-house expert of your domain, you should seek consultation or outsource some of the services at the early stage.
At the growth Stage
Having a sense of urgency is one of the key factors that have allowed my online diamond jewellery portal grow as fast it has so far. Whether it was identifying and understanding my target market, or coming up with creative ways for providing my customer the best online shopping experience, I had to act fast before my competitors. Without a sense of urgency, it’s very easy to lose momentum.