Starting a Successful Startup: A Founder's Journey
Crypto Entrepreneur Rishabh Jain's journey in building Shiftal - a business for the misunderstood asset
Building a million-dollar venture and startup from scratch isn’t easy. Rishabh Jain, founder and CEO of Shiftal, talks about how he gave life to his brainchild and what happened behind the screens!
Rishabh Jain, aka RJ, is a successful cryptopreneur to watch out for in 2022. At the young age of 25, he started his multi-national company, Shiftal - a P2P crypto exchange platform. Being a man of determination and action, Rishabh Jain realized that he is not into being just an employee in any organization. He wanted to be an entrepreneur.He goes by the idea to be consistent and show up.
How did the journey start?
Rishabh Jain recalls having done projects as a hobby. He made his first $300,000 through Crypto trading in a very short period of 6 months. He always wanted to launch one of the top 10 cryptocurrency companies in India. However, during the initial stage, there were hardly any resources that would normally be required to put up a company. “It was all trial and error that helped me understand it'', he says. He also explains that Shiftal was built with thorough research as its base. Being the forerunner of ‘an exchange that transacts at lightning speed’, Rishabh Jain says he has huge plans for Shiftal and is proud to see it grow.
What were the challenges en route?
It was a tough road ahead. Rishabh Jain calls his approach slow yet strategic. He also quotes his mother saying that delays are blessings in disguise. Lack of adequate investment was one of the toughest challenges that Rishabh Jain had to face in his early days. Being an amateur in business and starting an organization is not a cakewalk. He says, “Running a company and handling 40+ employees single-handedly without an office was a struggle in itself.” Above that, seeing the company go bankrupt time and again should have not been pleasant. He had to sell his personal belongings to fund the company’s survival. With nothing but his skill set and determination, it was yet again another huge challenge to increase the valuation of the company from 0.2 Million $ to 7 Million $, all organically. However, he succeeded in it over a span of 2 years.
Right decisions at the right time
Rishabh Jain, in his entrepreneurial career, has taken some very important decisions at the right time. This skill of his stood as a huge driving force to boost the company’s overall performance. One such decision was getting an influencer on board, despite the poor liquidity. This timely act of his ended up being so crucial, as Shiftal grew by 3000%. Another such major decision that he took was much earlier. It was after his post-graduation that he realized he wanted to be an entrepreneur. Acquiring the right mindset to be successful in one’s mission and set out with almost nothing can be dreadful for many. Even one wrong step could have pulled him away from achieving his dreams. Every second when someone hesitated to make such strong decisions, he took the decision and stood by it; This makes him unique.
What to Expect from Shiftal in 2022?
Shiftal is one of the top P2P crypto exchange companies, registered in four countries - India, USA, UK, and Estonia, providing services in 220+ countries, with regulations in 4+ countries making it a legit organization all over the world. Shiftal users can get to experience the whole new techno-shift that cryptocurrencies offer from the comfort of smartphones as Shiftal has just launched its full-featured Android and iOS mobile applications. Callback request, which is one of a kind in the market, is a major USP of Shiftal, alongside instant live chat support for better user experience and bidding system. Shiftal has also launched its own cryptocurrency - ShiftalCoin, a native coin to be used in Shiftal exchange. Shiftal users grew more than 50K in size over the last 2 months (at the time of writing). Furthermore, Shiftal would be expanding its arena beyond the P2P market. This successful crypto exchange is getting all set to launch spot exchange with margin and futures trading platform very soon. Their long-term goal is to build an all-inclusive ecosystem with a myriad of crypto products. Plans to develop and launch Forex, gold, and crude oil exchange are also on board.
Rishabh Jain’s tips to upcoming entrepreneurs
Rishabh Jain has many tips and suggestions for people who want to fly high as entrepreneurs. “Stop wishful thinking and stop getting influenced”, he says. He also suggests investing small in the right manner and with whatever one is left with. He recalls missing out on parties and investing the amount saved into crypto trades. He explains, “There is nothing instant in life. It is not cheap and most important of all, have a good financial advisor in place and a source of income because businesses take time and above that, a profit-generating business takes even more.”Note: Investment in cryptocurrency is subject to risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.