“Inside Every Problem Lies an Opportunity.”Robert Kiyosaki
The journey of Reelo has its roots in the problem faced by Parin’s father. Owner of a small-scale retail business in Ahmedabad, his father was dependent upon every customer that walked into the store for the sale. Irrespective of the high quality of garments that were available at the store, there was no assurance that the customer would return to the store again. Though he really wanted to help his father, at that point, he had no solution to it. Parin realised that this is a common problem faced by all small businesses across India.
Parin was working in the US and was a regular customer at Starbucks there. He even enrolled for their personalised Rewards Program. Impressed by such personalised experience, it stuck to Parin and his brother – Prit (Co-founder of Reelo) that this is how they could help their father and numerous other people like him. They saw an enormous opportunity to leverage the rapid adoption of business and digital technology to empower retail entrepreneurs of India and Abroad. This led to their own business venture – Reelo. The aim of the company was to provide a simple and affordable solution for problems related to customer retention and engagement for the Small and Medium-Enterprise Businesses (SMBs).
The process of establishing Reelo, in a country like India, from scratch, is quite challenging for the majority of our customers. The merchants here are from traditional, family run-business backgrounds who are unaware of the true potential of data and digital technology for a business. Hence, the major challenge for the co-founders was to educate these merchants and help them realise the opportunity. Having said that, because of limited resources the co-founders had to carry out every task like sales, client servicing, marketing, designing and building the product everything on their own. They even had to deliver print materials and train the staff. In fact, the co-founders acquired the first 80-100 clients by themselves.
Today, it has been two years since the company and the co-founders have had many realisations.
1) The need to understand the desire and pain-point of every customer.
2) The impact of a user-friendly service
3) The importance of feedbacks from the customers
4) A successful way to engage this target audience is through Direct Sales Force.
5) The true value of proposition for the business.
According to Parin, their initial clients were super supportive and have played a significant role in the growth story of the company. They contributed a lot to the product as well as to its various aspects of business.
Reelo now has a talented team of 25 experts from the industry who help businesses turn every transaction into a relationship. Parin aspires to take the company forward and make the experience accessible to SMB merchants across India. Such a development will help these merchants to build brand value and customer loyalty.
Furthermore, the company supports ‘Make in India’, an initiative launched by our PM in 2015 to empower local businesses and encourage skill-oriented labour as well. They strongly feel that the scheme lends immense support to numerous passionate native business owners across India.
Parin has always believed in principle of– ‘How we work is just as important as what we work on.’
Thus, it is necessary to put the needs and requirements of the customer first.
Furthermore, he firmly believes that thinking big is the key to every achievement in life. Endless pursuit towards achieving it is another facet of the same coin.
Last but not the least, a vital advice to the Budding Entrepreneurs out there from this Gujpreneur – “Make decisions, backed by data. Measure everything and use tools to measure everything. Setting the processes from day 1 is extremely important for a strong foundation for growth.”
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