WHAT I LEARNT FROM MY COMPETITOR(11)
“Continue to be Fearless When
You Get Bigger“
Richa Kar, Founder & CEO, Zivame
CLAIM TO FAME: Pioneer in
launching an online lingerie retail company in India. The company has raised
$48 million from investors, including IDG Ventures and Kalaari Capital
THE LESSON: “I identify two
kinds of competition: in the offline retail space and people in the horizontal
segment, whatever they might be selling, because I look at how well they are
selling,“ says Richa Kar, the founder of Zivame. Kar says it is important to
treat competition with respect rather than get angry with them and she uses what
she learns from them to critique herself. “What I've learnt from my competition
in the horizontal segment is being courageous because they take a lot of risk.
When you get bigger, you tend to become risk-averse and it's important for
entrepreneurs to be fearless,“ she says, adding that she also observes the pace
of execution of horizontal play ers. From the offline world, Kar looks at how
her competition is building their brand and the way they understand the
consumer.
(As told to Indulekha
Aravind)
ETM27DEC15
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